Palmetto Warehouse Condominium Association, Inc.

Key facts from Palmetto Warehouse Condominium Association, Inc.'s documents

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

Community type

Commercial Condominium (Page 1 (title) and Section 2)

Units / lots

23 (anticipated; actual may be as per recorded survey) (Section 4)

Governing law

Florida Condominium Act, Chapter 718, Florida Statutes (as of recordation date) (Section 1)

Assessments & dues

Not fixed; each Unit Owner's share of Common Expenses as per percentage in Exhibit C (based on unit square footage) (Section 3.1, Section 7.1, Exhibit C)

Special assessments

May be levied by Board without unit owner approval if insurance proceeds insufficient for reconstruction after casualty (Section 10.2.2); also general power to assess for Common Expenses (Section 3.1) (Section 10.2.2, Section 3.1)

Collections & liens

Association has lien on Unit for unpaid assessments, enforceable by foreclosure suit; also may recover money judgment; rent appointment allowed (Section 18, Section 6.2.13, Section 6.3.)

Reserves & fees

Referred to in Section 10.2.2 ('available reserves'); existence implied but no specific funding requirement (Section 10.2.2)

Leasing & rentals

Yes (term 'Lease' defined as grant of temporary right of use for valuable consideration; no explicit restriction on leasing) (Section 3.13)

Parking & vehicles

Common use for all Unit Owners, guests, invitees; assigned Limited Common Element spaces may be transferred; Association may regulate parking (including handicap, compact car spaces, and prohibitions on disabled vehicles and outdoor storage (Section 11.4, Section 11.5)

Signs & flags

Business names and suite numbers on windows/doors require Association approval; Developer may erect sales signs during unsold Units period (Section 6.2.12, Section 5.4.6)

Maintenance

Not explicitly assigned; likely part of Common Elements (exterior of building) but not specifically listed (Section 6.1 (covers exterior of building)

Voting & meetings

Each Unit has one vote, cast by Unit Owner or proxy (Section 3.17, Section 21)

Amendments

May be proposed by Board or 25% of voting interests; requires 67% vote at a meeting with quorum; Developer may amend unilaterally until turnover; mortgagee approval needed for amendments materially affecting mortgagees (Section 14 (14.1, 14.3, 14.4, 14.5))

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