Nathaniel Place Homeowners Association, Inc.

Key facts from Nathaniel Place Homeowners Association, Inc.'s documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Name: 'Nathaniel Place Homeowners Associ)

Legal name

Nathaniel Place Homeowners Association, Inc.

Developer / declarant

Nathaniel Place, L.L.C., a Florida limited liability company (DOC 154830 page 1; DOC 154855 page 1)

Governing law

Chapter 720, Florida Statutes (Homeowners' Association Act) (Bylaws 1.4: 'Florida Statutes Chapter 72)

Assessments & dues

Board adopts annual budget for common expenses. Assessments are made against owners not less than quarterly in amounts sufficient to cover anticipated operating expenses and unpaid past expenses. Owners' shares as per Declaration (ownership (Bylaws 6.1, 6.2, 7.1 (pages 21-22, 23))

Special assessments

Emergency assessments by Board after 30 days notice to owners. Non-emergency special assessments require 14 days written notice to owners posted on common property. Board can amend budget if insufficient, but not for emergency or nonrecurri (Bylaws 7.2 (page 23); 3.11 (page 16); 7.)

Collections & liens

Association has lien on each Lot for unpaid assessments, interest, late charges, costs and attorneys' fees. May foreclose lien like a mortgage. Also may sue for money judgment. 30 days notice required before foreclosure filing. (Bylaws 4.6, 7.7, 7.8 (pages 19, 24-25))

Reserves & fees

Reserves for capital expenditures and deferred maintenance (including pavement resurfacing) are included in budget. May be waived or reduced by majority vote at a meeting. Reserve funds not commingled with operating funds. (Bylaws 6.2(k), 6.7 (pages 22-23))

Maintenance

Association responsible for protecting, maintaining, repairing, replacing, and operating common areas and common elements, including Surface Water Management System. Owner responsibility for their Lot not specified in these documents. (Bylaws 4.1 (DOC 154855 page 19))

Insurance

Association shall use best efforts to obtain and maintain adequate insurance to protect the Association and the common elements as required in the Declaration. (Bylaws 4.11 (DOC 154855 page 19))

Voting & meetings

One vote per Lot owned. Joint owners must agree; if conflict, vote not counted. Corporate owners vote by designated officer. (Articles of Incorporation Art IV (DOC 15)

Amendments

Articles of Incorporation: amendment proposed by majority of Directors or 25% of membership; submitted to vote at next annual meeting; adopted by majority of voting interests; effective upon filing with Secretary of State and recording in S (Articles of Incorporation Art XI (DOC 15)

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