515 Valencia Condominium Association, Inc.

Key facts from 515 Valencia Condominium Association, Inc.'s documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1.3: name is '515 VALENCIA CONDO)

Legal name

515 VALENCIA CONDOMINIUM ASSOCIATION, INC. (Section 2.4 Definition of 'Association')

Governing law

Florida Condominium Act (Chapter 718 Florida Statutes) (Section 2.1 Definition of 'Act')

Assessments & dues

Based on percentage share from Exhibit 3, determined by unit square footage; Association may assess Communication Services equally among all Units (Section 5.1: 'percentage share of the Co)

Special assessments

Not explicitly defined, but Common Expenses include all expenses incurred by Association; Extraordinary Financial Event defined for natural disaster not covered by insurance (Section 2.15 (common expenses) and Secti)

Reserves & fees

Reserves required by the Act are part of Common Expenses (Section 2.15(b): 'all reserves required )

Leasing & rentals

Not explicitly prohibited; Cabanas may not be leased separately except with unit or to another unit owner, implying leasing of units is allowed (Section 3.3(d): 'in no event shall an Ow)

Architectural approval

Board approval required for changes to exterior face of patios, balconies, terraces, roof decks, lanais; also for floor coverings and improvements on limited common elements (Section 3.3(a): 'there shall be no chang)

Signs & flags

Developer may erect signs for sales/leasing during its sales period; otherwise not addressed (Section 3.4(h): 'to erect on the Condomi)

Maintenance

Unit Owner: maintenance, repair, replacement of Unit and Limited Common Elements (including interior, windows, HVAC, plumbing, etc.). Association: structural/mechanical of Limited Common Elements, Common Elements, exterior window washing, a (Sections 7.1, 7.2, 3.3(a), 3.3(d))

Insurance

Association insurance includes fire, windstorm, flood, liability, and other types; officers and directors insurance; also self-insurance fund if elected (Section 2.15(l): 'costs of fire, windsto)

Use restrictions

Not explicitly stated, but condominium is for dwelling purposes (implied by 'dwelling purposes' in Section 3.4(l)) (Section 3.4(l): 'will not prevent or unr)

Voting & meetings

Each Unit entitled to one vote, cast by Unit Owner per By-Laws and Articles (Section 5.2: 'Each Unit shall be entitle)

Amendments

By Association: majority vote of voting interests after notice; Material Amendment requires record owner and mortgagee joinder; Developer may amend unilaterally during control period (except time-share or Material Amendment); Mortgagee cons (Section 6 (6.1 through 6.6))

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