Derby Bay North Condominium Association, Inc.

Key facts from Derby Bay North Condominium Association, Inc.'s documents

Reflects the 1994 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title and Article 1.11)

Units / lots

10 (maximum) (Article 1.29)

Governing law

Florida Condominium Act (Article 1.12)

Assessments & dues

Set by Board; developer guaranteed not exceed $750 per quarter per unit during Guaranty Period (Article 9.9)

Special assessments

Capital additions over $25,000 in calendar year require majority approval; up to $25,000 without approval (Article 8.4)

Collections & liens

Lien for unpaid assessments; subordinate to first mortgage of Institutional Lender; Association may accelerate assessments (Articles 9.7, 9.5)

Reserves & fees

Set by Board, not exceeding permitted by law (Articles 9.4, 9.6)

Pets

Yes, subject to Association rules; only Unit Owners may keep pets; tenants and guests cannot bring pets (Article 7.7)

Use restrictions

Each Unit used and occupied as single family residence only (Article 7.2)

Voting & meetings

One vote per Unit owned (Article 10.11)

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