Bridgewater Assn

Key facts from Bridgewater Assn's documents

Community type

condominium (Article II)

Legal name

BRIDGEWATER OFFICE CONDOMINIUM

Developer / declarant

BRIDGEWATER INVESTMENTS, L.L.C. (Preamble)

Governing law

Chapter 718, Florida Statutes (Condominium Act) (Article I)

Assessments & dues

Annual assessment based on budget adopted by Board of Directors, assessed in advance, due in equal monthly installments (Bylaws Section 5.3)

Special assessments

Permitted if annual assessment insufficient; Board may amend budget and assessment (Bylaws Section 5.3)

Collections & liens

Association has lien for unpaid assessments; may foreclose; lien subordinate to prior recorded mortgages; reasonable attorneys fees included (Article XVII C, D)

Parking & vehicles

Roads, driveways and vehicle parking spaces are common elements; use subject to Article XXIV H. (Article IX (Use of Common Elements))

Architectural approval

Alteration of common elements requires majority approval of unit owners; no exterior painting or decorating by unit owner (Article XVI B.4, Article XVI Common Elem)

Maintenance

Association (included in structural elements) (Article XVI A(1))

Insurance

Casualty insurance (fire, extended coverage, vandalism, windstorm, water damage, war risk if available) at replacement value; comprehensive general liability $1,000,000; workers compensation; flood if required; fidelity bonds; officers and (Article XIX B)

Voting & meetings

One vote per unit; voting interest based on square footage relative to total square footage of all units in that condominium (Article IX)

Amendments

Bylaws amendments require approval by all directors or 2/3 of board and 2/3 of membership, or 80% of membership; no amendment discriminating against member without consent; no amendment impairing mortgage without mortgagee approval; declara (Bylaws Section 8 and Article XVIII E)

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