Summit the Commericial Condominium

Key facts from Summit the Commericial Condominium's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Commercial Condominium (Preamble and §1)

Legal name

The Summit, a Commercial Condominium

Developer / declarant

Coastal Development & Consulting, LLC (Preamble)

Governing law

Florida Condominium Act (§2)

Assessments & dues

estimated total $135,268 for 2005-2006 (Exhibit G)

Special assessments

allowed (§13(c))

Collections & liens

Association has lien on each Unit for unpaid assessments; effective upon recording of claim of lien (§13(g))

Reserves & fees

yes, for painting, paving, roofing, elevator; annual reserve funding $17,300 (Exhibit G Notes)

Leasing & rentals

yes (§8(m))

Parking & vehicles

first come, first serve except limited common elements; allocation based on square footage: /250 (office) or /150 (restaurant) (§8(s))

Signs & flags

require written approval by Declarant or Board (§8(n))

Maintenance

Association (common element) (§5 and §7(b))

Use restrictions

no; commercial business offices only (§8 and §8(o))

Amendments

affirmative vote or written consent of 2/3 of total votes (§15(a))

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