The Montego Club Condominium Association, Inc.

Key facts from The Montego Club Condominium Association, Inc.'s documents

Reflects the 1970 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

The Montego Club Condominium Association, Inc.

Units / lots

fifteen (15) apartments (Article I, page 1)

Developer / declarant

MONTEGO-BAY HARBOR CORPORATION, a Florida corporation (Article I, page 1)

Governing law

Florida Condominium Act, Section 711, Florida Statutes (1967), and Amendments thereto (Article I, page 2)

Assessments & dues

Board of Directors establishes annual budget, allocates common expenses according to share in common elements as shown on Exhibit B (Article VII(a), page 4)

Special assessments

may be made by Board for other needs; if not connected to actual operating, managerial or maintenance expense, requires prior approval of members owning at least a majority of apartments (Article VII(b), page 5)

Collections & liens

Association may foreclose its lien as provided in Condominium Act, plus attorneys' fees and costs (Article VII(e)-(f), page 5-6)

Reserves & fees

operating reserve not to exceed 15% of total projected common expenses for the year (Article VII(a), page 4)

Leasing & rentals

Leasing allowed subject to right of first refusal and board approval; lease must be in writing; lessee subject to declaration; lease cancellable for lessee default (Article XIII, page 12-14)

Parking & vehicles

Each apartment owner has right to exclusive use of one automobile parking space assigned by developer; board may reassign with mutual consent; board may charge reasonable rental, initially set by developer, no increase while developer owns (Article XX, page 15-16)

Architectural approval

Structural modifications require written consent of Board of Directors; exterior changes require consent (Article XI, page 11)

Signs & flags

Developer may display signs until all units sold (Article X(e), page 11)

Maintenance

Owner responsible for interior fixtures, equipment, windows, wall/celling/floor surfaces; Association responsible for common elements and limited common elements, exterior painting, cleaning (Article IX, page 9-10)

Insurance

Casualty insurance covering all improvements, amount equal to maximum insurable replacement value or 80% co-insurance basis; fire, windstorm, extended coverage, vandalism, etc. (Article VIII(b), page 6-7)

Use restrictions

Each Apartment is restricted to residential use; no transient, hotel or commercial purposes (Article X(a), page 10)

Voting & meetings

persons entitled to cast a majority of the votes of the entire membership (By-Laws, Section 2(b), page 23)

Amendments

Amendment requires vote of owners of at least 11 apartments, plus approval of institutional first mortgagees holding 1/3 or more apartments; changes to common element shares require unanimous vote (Article XIV, page 14)

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