3201-3203 Shipping Avenue Condominium Association, Inc.

Key facts from 3201-3203 Shipping Avenue Condominium Association, Inc.'s documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Section 1.2 (submission to condominium f)

Units / lots

2 (Unit A and Unit B) (Section 3.1: "two Units identified as A )

Governing law

Florida Condominium Act (Chapter 718 Florida Statutes) (Section 1.2, Section 2.1)

Assessments & dues

Board of Directors prepares budget at least annually and determines assessments to meet common expenses (Section 12)

Special assessments

Board may levy Special Assessments and Capital Improvement Assessments; if aggregate in any year exceeds $20,000, must obtain approval of both unit owners (Section 13(6))

Collections & liens

Association has lien on each Condominium Parcel for unpaid assessments; effective from recording of original declaration but as to first mortgages effective from recording of claim of lien; may foreclose; 45 days notice required before fore (Section 13(5), 13(7), 13(8), 13(9))

Reserves & fees

included in Common Expenses; may be waived in accordance with applicable law (reference to Act) (Section 2.12 (definition of Common Expen)

Architectural approval

Yes, for any addition, alteration, or improvement visible from or affecting other Units or Common Elements; requires prior written consent of Board of Directors (Section 9.1)

Insurance

Casualty insurance on Insured Property (common elements and original portions inside units) at not less than 100% full insurable replacement value; Association purchases and names itself as insured as agent for owners and mortgagees (Section 14.1(a),(c); Section 14.2(a))

Voting & meetings

each Unit entitled to one vote cast by its Owner (Section 5.2, By-Laws reference)

Amendments

Requires favorable vote from both members (unit owners) after 14 days written notice; Institutional Mortgagee consent for certain amendments affecting their rights; Developer may amend unilaterally while holding units for sale (except Mater (Section 6.1-6.10, 6.12)

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