Crestwood Business Park Condominium Association, Inc.

Key facts from Crestwood Business Park Condominium Association, Inc.'s documents

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

Community type

Condominium (Section 1.3)

Units / lots

0 (condominium units, not lots) (Section 3.1: Units are identified alphab)

Governing law

Florida Condominium Act (Chapter 718, Florida Statutes) as it exists on the date of the Declaration (Section 2.1)

Assessments & dues

Not fixed; determined annually by Board of Directors in a budget. (Section 10.1)

Special assessments

Allowed for nonrecurring purposes, mostly for road repairs/improvements. Approval required if aggregate in any year exceeds $10,000 or causes total assessments to exceed 115% of prior year (majority vote at meeting with quorum). (Section 10.2)

Collections & liens

Association has lien on each Condominium Parcel for unpaid assessments, interest, late fees, costs, and attorneys' fees. Lien effective upon recording claim of lien. Association may foreclose like a mortgage. Notice of intention to foreclos (Section 11.2, 11.3)

Reserves & fees

Common Expenses include all reserves required by Act or otherwise established by Association. Budget shall include reserves required by law or determined appropriate by Board. (Sections 2.10, 10.1)

Leasing & rentals

Developer may lease or rent units during development; no general restriction on leasing for Unit Owners mentioned. (Section 17.2(c) mentions Developer's rig)

Architectural approval

Yes, any improvements must comply with Master Declaration's Design Review Committee review and approval. (Section 8: 'Design Review Committee revi)

Signs & flags

Developer reserves right to place signs and promotional material on the Condominium Property during development period; no other sign rules. (Section 17.2(c))

Maintenance

Not specifically allocated; if building exists on Unit, it is part of Unit per Section 2.24, so Owner responsibility. (Section 2.24: 'Any Building constructed )

Insurance

Not required by this Declaration. (No provision)

Use restrictions

Not residential; it is a business park. No use restrictions other than compliance with laws, Master Declaration, and certain deed restrictions. (Section 12)

Voting & meetings

One vote per Unit. Total votes equal number of Units (15). Voting shall be by written ballot for election of directors. Cumulative voting prohibited. (Section 5.2; By-Laws Article II Section )

Amendments

Amendment by Unit Owners requires affirmative vote of 75% of all Condominium Parcels at a meeting, or written consent of 90% without meeting. Developer may amend unilaterally until 51% of Units sold (for changes not materially affecting uni (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.