Islamorada Yacht Basin Condominium Association, Inc.

Key facts from Islamorada Yacht Basin Condominium Association, Inc.'s documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Marina Association is a condominium association under Condominium Declaration) (Section 2w: "'Marina Association' means )

Units / lots

29 Dock Units (units 1 through 29) (Section 2n: "'Dock Unit' means units 1 t)

Developer / declarant

La Siesta Seas, LLC, a Florida limited liability company (Page 1, line 10-11: 'made by La Siesta S)

Governing law

Florida Condominium Act (Chapter 718, Florida Statutes) (Section 2g: "'Condominium Act' means the)

Assessments & dues

Not fixed; based on Project Budget adopted annually by Declarant. For 2014, budget estimated by Declarant. (Section 15f: "'Project Budget' means for)

Special assessments

Declarant may levy special assessments for capital improvements, unreimbursed costs, failure to pay Per Diem Damages ($150/day), failure to reimburse, failure to comply with indemnification, failure to pay pump-out fees, or any breach of Pr (Section 15g: "Declarant may levy special)

Collections & liens

Declarant has a lien against each Dock Unit for Project Assessments and Costs of Collection. Lien is foreclosed like mortgages under Florida law. Also possessory lien on Vessel of delinquent owner, exercisable under Florida Statute 328.17. (Section 15h iv, v, vii: "Declarant has a)

Reserves & fees

Common Costs include reserves for replacement of Marina Facilities. Start-up funds may be used to fund reserves. (Section 2d: "Common Costs means... repla)

Leasing & rentals

Yes, but only under a Project Permitted Dock Lease with minimum term of 6 consecutive months. Short-term, daily, or intermittent leasing allowed only through Dockmaster program. (Section 2jj: "'Project Permitted Dock Le)

Architectural approval

Yes; all alterations, additions, replacements, substitutions or changes to improvements, fixtures, and landscaping on Marina Parcel require Declarant's approval as 'Approved Construction'. (Section 2a: "'Approved Construction' mea)

Home business

Limited to Project Permitted Business, which includes fishing charter, fishing guide, sunset/bay tour businesses, or other approved by Declarant. Must be operated from Project Permitted Vessel, no operations on Common Elements. All other bu (Section 2ii: Definition of 'Project Perm)

Use restrictions

Prohibited uses include noxious or offensive activities (Section 16a v). Also conduct that would make any Subparcel uninsurable or increase insurance (Section 16a viii). (Section 16a v: "Conduct or allow any nox)

Amendments

Declarant may amend or modify without consent of Marina Association, Dock Owners, or other owners, provided no material adverse effect on rights to Necessary Easements (Section 4b). Also, Supplemental Declarations by Declarant (Section 4a). (Section 4: 'AMENDMENTS, SUPPLEMENTAL DEC)

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