Shady Palms Condominium Association, Inc.

Key facts from Shady Palms Condominium Association, Inc.'s documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Article I: 'SHADY PALMS, A CONDOMINIUM')

Governing law

Florida Condominium Act (Chapter 718, Florida Statutes) (Article II A)

Assessments & dues

Not fixed; determined by Board based on annual budget (Article VII E and F)

Special assessments

Allowed if assessments insufficient or emergency; requires majority vote of membership at meeting with quorum; specific purpose must be stated and funds used only for that purpose (Article VII E 2)

Collections & liens

Common Expenses and Assessments constitute a lien on each Parcel; lien recorded in public records; foreclosure action may be filed after at least 30 days written notice; mortgagee's liability limited to lesser of 6 months unpaid assessments (Article VII E 6 (a)-(i))

Reserves & fees

Required for capital expenditures and deferred maintenance; may be waived or reduced by majority vote; also general operating reserve up to 10% of current annual assessment, stop when reaches 30% (Article VII G 1 and G 2)

Pets

Dogs, cats, or other household pets allowed, not kept for commercial purposes (Article V H 3)

Leasing & rentals

Yes; Parcels freely leaseable; daily transient rentals allowed without Association approval (Article V N and Article VIII)

Parking & vehicles

Not permitted to be stored or parked in open view (Article V H 10)

Fences

Fences require approval of the Association (Article V H 7)

Architectural approval

Yes; Architectural Control Committee must approve plans for any building, fence, wall, or other structure or improvement (including landscaping visible from exterior); interior alterations do not require approval (Article V G 1, 2, 12)

Home business

Prohibited except short-term rental of residential property (Article V A: 'Units shall not be used fo)

Maintenance

Parcel Owner responsible for maintenance, repairs, replacements of Parcel; Association responsible for Common Elements including Sewage System; Limited Common Elements (septic tanks) maintained by Association but cost charged to Parcel Owne (Article VII J 1 and J 2)

Insurance

Association maintains liability insurance for accidents on Common Elements; no casualty/windstorm insurance for improvements within Parcels (those are owner's responsibility) (Article IX B 1 and B 2)

Use restrictions

Units used only for transient occupancy (including daily rentals); not for full-time residence; single-family occupancy; no homestead declaration (Article V A)

Voting & meetings

One vote per Parcel; Parcel Owner entitled to vote; if multiple owners, only one vote per Parcel as determined among themselves (Article IV D and Article VII B)

Amendments

Change of undivided interest requires unanimous consent of Parcel Owners and record lienholders; not specified for other amendments but governed by Act (Article IV C)

Amenities

Swimming pool, deck, contiguous fenced area are Common Elements (Article II I)

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