929 on Michigan Condominium Association, Inc.

Key facts from 929 on Michigan Condominium Association, Inc.'s documents

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

Community type

Condominium (Section 1.3: 929 ON MICHIGAN, A CONDOMIN)

Governing law

Florida Condominium Act (Chapter 718 Florida Statutes) (Section 2.1: 'Act' means the Florida Con)

Assessments & dues

Board of Directors prepares annual budget, determines assessments, allocates among Unit Owners per Declaration and By-Laws (Section 12)

Special assessments

May be levied by Board for nonrecurring purposes not capital; if aggregate in any year exceeds $125,000 or causes total to exceed 115% of prior year, need majority approval of Units at a meeting (Section 13.2(c))

Collections & liens

Association has a lien on each Condominium Parcel to secure payment of Assessments, effective from date of recording of claim of lien or notice of intent to foreclose (subject to limitations) (Section 13.3 partial; see also Section 1)

Reserves & fees

Common Expenses include reserves required by Act or otherwise established by Association (Section 2.11(a)) (Section 2.11(a))

Pets

Section 17.3 Pet Restrictions exists but text not provided (Table of Contents: '17.3 Pet Restriction)

Leasing & rentals

Section 17.8 Leases exists but text not provided (Table of Contents: '17.8 Leases')

Parking & vehicles

Parking spaces are Limited Common Elements assigned to Units; Association responsible for maintenance; may be relocated by Board for handicap accessibility; parking facilities may be below flood plain (Section 3.3(b))

Architectural approval

Board must answer written request within 30 days after request and all additional information received; failure constitutes consent (Section 9.1)

Maintenance

Unit Owner responsible for maintenance, repairs, replacements of Unit and Limited Common Elements (structural and nonstructural) at Owner's cost; Association responsible for Common Elements and Association Property, cost charged as Common E (Sections 7.1, 7.2)

Use restrictions

Occupancy and Use Restrictions (Section 17) includes Section 17.1 Occupancy, but full text not provided; assumption based on typical condominium (Section 17 heading)

Voting & meetings

Each Unit entitled to one vote, cast by its Owner in accordance with By-Laws and Articles (Section 5.2)

Amendments

Amendments adopted by affirmative vote of in excess of 66 2/3% of voting interests, except Developer may amend unilaterally during control period; Material Amendments require joinder of affected Unit Owners and mortgagees; consent of lender (Sections 6.1, 6.2, 6.3, 6.5)

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