Key Largo Ocean Resort Condominium

Key facts from Key Largo Ocean Resort Condominium's documents

Reflects the 2013 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Preamble)

Legal name

Key Largo Ocean Resort Condominium Association, Inc. (Article I.D)

Units / lots

285 (Article II: 'two hundred eighty-five (28)

Developer / declarant

Key Largo Ocean Resorts Co-op, Inc., a Florida corporation (Article I.Q)

Governing law

Chapter 718, Florida Statutes (Florida Condominium Act) (Preamble and Article I.A)

Assessments & dues

Board prepares budget annually, determines assessments (Article XII.A)

Special assessments

Charge against each Unit Owner for specific nonrecurring purposes; Board may impose if operating Budget insufficient (Article I.Z and Article XII.A)

Collections & liens

Association has lien for unpaid assessments, may foreclose; 30-day notice required before filing lien (Article XII.D)

Reserves & fees

Budget shall include reserves unless waived or reduced by owners per Act (Article XII.A)

Parking & vehicles

Guest parking areas are Common Elements; Unit Owners must park within their own Unit; no boats or trailers in guest parking (Article II.C)

Architectural approval

Yes, for any additions, alterations, improvements to Unit, Limited Common Elements, or Common Elements (Article XI.A)

Maintenance

Owner maintains Unit and Limited Common Elements; Association maintains Common Elements (Article X.A, X.B)

Insurance

Determined by Board; may establish reserve for deductible (Article XIII.C)

Voting & meetings

Each Unit entitled to one vote, cast by Owner in accordance with By-Laws (Article VII.B)

Amendments

General amendment requires majority of Unit Owners present at meeting; Board may amend for as-built plans or conforming to building restrictions without member vote (Article IX.A and IX.B)

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