7000 Island Boulevard Condominium Association, Inc.

Key facts from 7000 Island Boulevard Condominium Association, Inc.'s documents

Community type

Condominium (Section 1.2 and 1.3)

Units / lots

314 (299 Residential, 15 Parking) (Section 3.1)

Governing law

Florida Condominium Act (Chapter 718 Florida Statutes) (Section 2.1)

Assessments & dues

Board of Directors prepares budget, determines assessments, allocates among Unit Owners per their fractional shares (Section 12)

Special assessments

Defined as nonrecurring costs not capital improvements; may be levied by Board; if aggregate exceeds $100,000 or causes total assessments to exceed 115% of prior year, must be approved by majority of Units at a quorate meeting (Section 13.2)

Collections & liens

Association has lien on each Condominium Parcel; effective from recording of Declaration, but as to first mortgages effective from recording claim of lien; claim must state description, owner, Association, amount, due dates; lien effective (Section 13.3, 13.4, 13.5)

Reserves & fees

Required by Act or otherwise established; Common Expenses include reserves (Section 2.11 and Section 12)

Architectural approval

Yes, prior written consent of Board of Directors required for any addition, alteration, or improvement to Common Elements, Unit, or Limited Common Element (Section 9.1)

Maintenance

Unit Owner maintains Unit and Limited Common Elements (except storage spaces maintained by Association); Association maintains Common Elements (other than those Limited Common Elements maintained by Unit Owners) and Association Property (Section 7.1, 7.2)

Insurance

May have reasonable deductible as determined by Board (Section 14.2(a))

Voting & meetings

Each Residential Unit: 1 vote; each Parking Unit: 1/15th of 1 vote (Section 5.2)

Amendments

By Association: 67% vote of all Unit Owners; material amendments: majority of voting interests; by Developer alone during control period (except time-share estates and material amendments); requires mortgagee consent for certain changes; re (Section 6)

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