Baylofts Condominium Association, Inc.

Key facts from Baylofts Condominium Association, Inc.'s documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1.3: 'The name ... is BAYLOFTS, )

Legal name

BAYLOFTS CONDOMINIUM ASSOCIATION, a Florida corporation not for profit (Section 2.4: "'Association' ... means BA)

Governing law

Florida Condominium Act (Chapter 718, Florida Statutes) (Section 2.1: "'Act' means the Florida Co)

Assessments & dues

During developer guarantee period: Type A $2,662/yr; Type B $2,623/yr; Type C $2,657/yr; Type D $3,078/yr; Type E $3,381/yr. Monthly amounts: $222, $219, $221, $257, $282 respectively. (Section 13.7 table)

Special assessments

Board may levy Special Assessments for non-recurring purposes or capital improvements, payable in lump sum or installments. Approval for capital improvements costing >$10,000 in aggregate in a calendar year requires majority vote of unit ow (Sections 13.2 and 8)

Collections & liens

Association has lien on each Condominium Parcel for unpaid assessments. Lien effective from recording of Declaration; as to first mortgages, from recording of claim of lien. Foreclosure action allowed. Receiver may be appointed to collect r (Section 13.3, 13.4, 13.5)

Reserves & fees

Greater of $25 or 5% of each delinquent installment (Section 13.3: 'subject to an administrat)

Voting & meetings

Each Unit entitled to one vote cast by its Owner. Voting interests as per percentage shares (see Section 5.1). (Section 5.2: 'Each Unit shall be entitle)

Amendments

Amendments by Association: 67% or more of voting interests of all Unit Owners. Material Amendments: require join of affected Unit Owners and mortgagees, plus 67% vote. Mortgagee consent required for certain amendments. Developer may amend a (Section 6.1 - 6.5)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.