Bay View Lofts Condominium Association, Inc.

Key facts from Bay View Lofts Condominium Association, Inc.'s documents

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

Governing law

Florida Condominium Act (Chapter 718 of the Florida Statutes) (Section 2.1)

Assessments & dues

Board of Directors shall prepare budget and determine Assessments annually. (Section 12)

Special assessments

Allowed for Common Expenses, capital improvements, etc. Board may levy, payable in lump sum or installments. (Section 13.2)

Collections & liens

Association has a lien on each Condominium Parcel for unpaid Assessments, interest, and attorney's fees. Lien effective from recording of Declaration (relation back) but as to first mortgages, from recording of claim of lien. Foreclosure ac (Section 13.3, 13.4, 13.5)

Reserves & fees

Reserves required by law or as established by the Association. (Section 2.11 (definition of Common Expen)

Architectural approval

Yes, prior written consent of Board of Directors required for any addition, alteration, or improvement in or to Common Elements, Association Property, Unit, or any Limited Common Element. (Section 9.1)

Maintenance

Roof within boundaries of Terraces: limited common element expense paid only by terrace owners. Roof not within Terraces: Common Expense paid by all Unit Owners. (Section 3.3(c))

Voting & meetings

Each Unit entitled to one vote. (Section 5.2)

Amendments

By Association: 67% affirmative vote of all Unit Owners (Section 6.1). Material Amendments: also require joinder of affected owners and mortgagees (Section 6.2). Mortgagee consent for changes affecting their rights (Section 6.3). Developer (Sections 6.1-6.5)

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