Biscayne Commercial Condominium Association, Inc.

Key facts from Biscayne Commercial Condominium Association, Inc.'s documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Commercial Condominium (Section 1.3: BISCAYNE COMMERCIAL CONDOMI)

Governing law

Florida Condominium Act, Chapter 718, Florida Statutes (Section 1.2)

Assessments & dues

Board of Directors prepares budget, determines Assessments to meet Common Expenses, allocates per Exhibit C percentages (Section 9.1)

Special assessments

Allowed; Board may levy assessments for nonrecurring costs or capital improvements; purpose must be stated in notice (Section 9.9)

Collections & liens

Association has lien on each Unit for unpaid Assessments and Charges; may foreclose like a mortgage; lien relates back to recording of Declaration (Sections 9.3, 9.4)

Reserves & fees

Budget shall contain reserves for capital expenditures and deferred maintenance; reserves may be waived per By-Laws (Section 9.1)

Parking & vehicles

Association may assign reserved parking spaces as Limited Common Elements; exclusive use appurtenant to Unit (Section 3.3(a))

Voting & meetings

Each Owner entitled to votes equal to the aggregate percentage interest described in Exhibit C (Section 4.3)

Amendments

Amendments generally require approval of owners owning >50% of Voting Interests plus not less than 66-2/3% of Board; certain changes require all affected owners and mortgagees; additional restrictions apply (Section 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.