Coral Key Cooperative

Key facts from Coral Key Cooperative's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowner Association (fee simple) (Title: "A fee simple, homeowner developm)

Units / lots

45 Residential Units (lots with homes) plus 3 vacant lots (54, 55, 56) (Section 1.3: "consisting of 45 lots with)

Developer / declarant

Coral Key Village Homeowners’ Association, Inc. and its Members (jointly referred to as Declarants) (Opening paragraph)

Governing law

Chapter 720 Florida Statutes (Homeowner Associations) (Title page)

Special assessments

May be levied with majority approval of Members voting at a meeting where quorum is present; also Limited Special Assessment for owner's failure to maintain (Section 6.2B, C)

Collections & liens

Assessments constitute a lien; may be foreclosed in same manner as mortgage; prior written demand required with 45-day cure period (Section 6.4, Section 7.2)

Reserves & fees

Required for capital expenditures and deferred maintenance; can be waived or reduced by 50% vote (Section 5.6)

Leasing & rentals

Yes; Units may be rented; Association cannot prohibit vacation rental use of at least 28 days; no fee for privilege to rent (Section 3.11)

Fences

Fence must meet standards in Rules and Regulations; definition of fence provided (Section 8.1A (condition for approval); S)

Architectural approval

Board must approve or reject within 30 days after delivery of all required materials; if not acted, deemed approved (Section 8.1A)

Use restrictions

All Residential Units shall be utilized for single family residential uses only; no manufacturing, storage of materials or business activities visible from exterior (Section 3.2)

Voting & meetings

One vote per Residential Unit; indivisible; cast by designated owner if multiple owners (Section 4.2)

Amendments

Reference to Section 15.3 Amendments (not fully excerpted) (Section 15.3 (title))

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