Grand Isles Condominium Association, Inc.

Key facts from Grand Isles Condominium Association, Inc.'s documents

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

Community type

Condominium (Section 2, Section 3)

Units / lots

320 (Section 6.1: 'each unit in the Condomini)

Governing law

Florida Condominium Act (Chapter 718) (Section 2, Section 4)

Assessments & dues

Developer guarantees assessments will not exceed $230/month ($690/quarter) until Dec 31, 2005 or turnover date; if later, $245/month ($735/quarter) from Jan 1, 2006 until turnover, exclusive of reserves. (Section 10.12: 'units for common expense)

Collections & liens

Association has a lien on each condominium parcel for unpaid assessments, interest, and attorney's fees. Lien is recorded in public records. Foreclosure action may be brought after 30 days notice. Lien is subordinate to first mortgages of D (Sections 10.8-10.10: 'The Association ha)

Reserves & fees

Common expenses include amounts budgeted for funding reserve accounts. (Section 10.1: 'including any amounts bud)

Pets

Yes, but subject to restrictions. (Section 12.3)

Leasing & rentals

Yes, but subject to restrictions and Board approval. (Section 13: 'the leasing of units by own)

Parking & vehicles

Parking on streets, walkways, or lawns within Association Property is prohibited. (Section 12.7: 'Parking of any vehicle on)

Home business

No business, commercial activity, or profession shall be conducted in or from any unit. Use as a public lodging establishment is prohibited. Personal telephone calls, correspondence, and professional records are allowed. (Section 12.1: 'No business, commercial a)

Signs & flags

No unit owner other than Developer may post or display 'For Sale', 'For Rent', 'Open House' or other signs without written Board consent. Developer reserves right to place identifying, informational, or sales signs. (Section 12.5: 'No unit owner other than )

Maintenance

Association is responsible for roofs. (Section 11.1(H): 'Roofs, balconies and l)

Use restrictions

Each unit shall be used as a residence and for no other purpose. (Section 12.1: 'Each unit shall be used a)

Voting & meetings

Each unit owner has membership in the Association with voting rights as per Articles of Incorporation and Bylaws (Exhibits C and D). (Section 6.2(B): 'Membership in the Assoc)

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