3 Island Condominium Association, Inc.

Key facts from 3 Island Condominium Association, Inc.'s documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 1.1: submitted to Condominium ow)

Units / lots

144 (Article 2.10.G: "all 144 Units")

Governing law

Chapter 718, Florida Statutes (Condominium Act) (Article 1.1)

Assessments & dues

Board fixes and determines sums necessary and adequate for Common Expenses (Article 6.1)

Special assessments

Permitted for unanticipated expenditures (Article 6.1) and to cover reconstruction cost deficiencies (Article 9.1.G) (Articles 6.1, 9.1.G)

Collections & liens

Association has a lien on each unit for unpaid assessments, foreclosable in the same manner as a mortgage (Article 6.4)

Reserves & fees

Mentioned: Working capital reserve, general operating reserve, repair and replacement reserve (Article 6.1.C-E); assessment for reserve deficits (Article 6.1.I) (Article 6.1.C-E, I)

Pets

Yes, with prior written approval of Board; up to 2 pets, except dogs (birds, fish, cats allowed) (Article 10.7)

Leasing & rentals

Yes, with prior approval of Association (Article 11.1)

Architectural approval

Yes, for any structural addition or alteration requiring a municipal permit; also for changes to Common Elements (Article 5.3.A, C)

Home business

Allowed under conditions: not apparent from outside, conforms to zoning, no solicitation, consistent with residential character (Article 10.2)

Maintenance

Association maintains roof and all roofing components (Article 5.1.B)

Insurance

Reasonable deductible determined by Board (Article 8.3.A)

Use restrictions

Yes; Units and Common Elements shall be used for residential purposes only (Article 10.2)

Voting & meetings

One vote per Unit, weighted according to each Unit Owner’s respective ownership interest (percentage from Exhibit D) (Article 7.3)

Amendments

Three-fourths (3/4) vote of voting interests present in person or by proxy at a meeting with quorum; 100% required to amend percentages of Common Elements or voting rights (Article 4 & 7). Material alterations: one-third (1/3) majority if o (Articles 12.2, 5.3.A)

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