The Villas of Fairway Terrace

Key facts from The Villas of Fairway Terrace's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

The Villas of Fairway Terrace, Inc., a Florida corporation not for profit (Section 1.1)

Units / lots

At least 10 but no more than 30 Lots and Living Units (WHEREAS: 'consisting of at least ten (10)

Governing law

Chapter 720, Florida Statutes (2004) as amended (Section 3.3 and 3.10)

Assessments & dues

Annual and special assessments levied by Association; each Lot pays an equal share (numerator 1, denominator total Lots with certificate of occupancy as of January 1 each year) (Sections 4.1 and 4.2)

Special assessments

Yes, for expenses not provided for by the annual budget (Section 4.1(B))

Collections & liens

Unpaid assessments and service charges constitute a continuing lien on the Lot, subordinate to Institutional Mortgages recorded before Claim of Lien. Lien may be foreclosed like Section 718.116, Florida Statutes. (Sections 4.4, 4.5, 4.6(C))

Reserves & fees

Greater of $25.00 or such other maximum as provided by law (Section 4.6(A))

Pets

Yes, up to 2 commonly accepted household pets (dog or cat) plus reasonable numbers of tropical fish or caged birds (Section 9.14)

Leasing & rentals

Yes, without prior Association approval but subject to restrictions (Section 9.3)

Parking & vehicles

No boat, trailer, camper, motor home, etc. unless kept fully enclosed inside a structure (open carport not a structure); 'kept' means present for 48 consecutive hours; such vehicles may not be kept more than 2 times in any month (Section 9.15(B))

Fences

No fence, wall, hedge, or similar structure except as originally installed by Developer or approved by Board (Section 9.9)

Home business

Prohibited if it changes the residential ambiance or makes it obvious a business is being conducted; personal records and telephone calls allowed (Section 9.1)

Signs & flags

Subject to Association control; Board may summarily remove unauthorized signs; exception for Developer's marketing signs (Section 9.6)

Use restrictions

Each Living Unit shall be occupied by only one family and its temporary guests as a residence and for no other purpose (Section 9.1)

Voting & meetings

One vote per Lot owned (Section 3.5 and Section 6.1(A))

Amendments

By vote of members; 2/3 of voting interests present required; certain changes require unanimous owner consent; Developer has unilateral right until no longer holding lots for sale (Sections 15.2, 15.3, 15.4, 15.6)

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