Terra Cove Condominium Association, Inc.

Key facts from Terra Cove Condominium Association, Inc.'s documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Mobile Home Park Condominium) (Declaration: TERRA COVE MOBILE HOME PARK)

Units / lots

108 (Bylaws Article 2.2: 'There are one hundr)

Governing law

Chapter 718, Florida Statutes (Condominium Act) and Chapter 617, Florida Statutes (Not For Profit Corporation Act) (Articles 2.1, 3.1.1)

Assessments & dues

Board of Directors adopts annual budget and sets assessments accordingly. Special assessments may be levied. Emergency special assessments may be levied without unit owner vote. (Articles 3.1.2(1); Bylaws 8.1 (by implic)

Special assessments

Power to levy special assessments; emergency special assessments may be levied by Board without unit owner vote. (Articles 3.1.2(1), 3.1.3(12))

Collections & liens

Association may assign assessments, lien rights, collection authority, and execute mortgages encumbering association real property. (Articles 3.1.2(15))

Reserves & fees

Not explicitly mentioned in provided text, but likely required by statute. (No direct cite)

Maintenance

Association responsible for maintenance, repair, alteration, improvement, replacement, administration, and operation of Common Elements and Association Property (Article 3.1.2(3)). (Articles of Incorporation 3.1.2(3))

Insurance

Association may purchase insurance upon Common Elements and Association Property and for protection of Association, Directors, Officers, and Members as Unit Owners. (Articles 3.1.2(4))

Voting & meetings

Each Unit has one vote. Voting rights may be suspended if Unit Owner is delinquent more than $1,000 for more than 90 days in paying a fine, fee or other monetary obligation. No vote allocated to a Unit owned by the Association. (Articles 5.3; Bylaws 2.2)

Amendments

Articles: Proposal by majority of Board or by written petition of at least 25% of voting interests; adoption by affirmative vote of not less than 55 voting interests. Bylaws: Amendment at meeting by affirmative vote of not less than a major (Articles 10.1, 10.2; Bylaws table of con)

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