The Reserve II at Banyan Woods

Key facts from The Reserve II at Banyan Woods's documents

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

Community type

Condominium (Document title, Section 3)

Units / lots

56 maximum (initial Phase 1: 4 units) (Section 4.21, Section 5.4(J))

Developer / declarant

Banyan Woods, LLC, a Florida limited liability company (Preamble)

Governing law

Florida Condominium Act (Section 2 (Submission Statement))

Assessments & dues

Not fixed; quarterly assessments guaranteed not to exceed $819.84 ($273.28/month) until Dec 31, 2003, then $942.81 ($314.37/month) until Dec 31, 2004, then $1,084.23 ($361.41/month) until turnover, including reserves (Section 10.12)

Special assessments

Allowed for unusual, nonrecurring or unbudgeted expenses (Section 10) (Section 10 (Preamble))

Collections & liens

Association has lien on each Condominium parcel for unpaid assessments; perfected by recording Claim of Lien; may foreclose; lien subordinate to first mortgage, superior to other liens except as provided by law (Section 10.8, 10.9, 10.10)

Reserves & fees

Developer shall vote to waive reserves for first two (2) years of operation of the Association (Section 10.12 (final sentence))

Pets

Yes, up to 2 pets of normal domesticated household type (e.g., cat or dog), plus reasonable numbers of tropical fish or caged birds (Section 12.6)

Leasing & rentals

Yes, but restricted; must be in writing, lessee must be natural person, board approval required (Section 13)

Home business

Prohibited, but incidental personal/professional use (records, phone calls) is allowed (Section 12.1)

Setbacks / home size

For Additional Phases 2 through 14, minimum 2,000 sq ft, maximum 3,100 sq ft (Section 5.4(J))

Insurance

Association shall maintain property insurance (all risk including windstorm, flood, liability, fidelity bond) as determined by Board (Section 15.3)

Use restrictions

Each Unit shall be occupied by only one family as a residence and for no other purpose; no business or commercial activity, including use as public lodging establishment (Section 12.1)

Voting & meetings

One vote per Unit (Section 4.21, Section 5.4(G))

Amendments

Developer may amend Declaration without Unit Owner consent to add additional Phases; amendment effective upon recording in Public Records (Section 5.4(E))

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