Emerald at Sapphire Lakes

Key facts from Emerald at Sapphire Lakes's documents

Community type

Condominium (part of Sapphire Lakes multi-phase residential community) (Section 1.3 (name) and Section 3.1)

Governing law

Florida Condominium Act (Chapter 718 of the Florida Statutes) (Section 2.1)

Assessments & dues

Not set in Declaration; Board determines amount based on budget (Section 14) (Section 14)

Special assessments

Not specifically named; but Section 15.2 allows acceleration of quarterly installments upon default and after notice; capital improvements costing > $10,000 require unit owner vote (Section 10) (Sections 15.2, 10)

Collections & liens

Association has a lien on each condominium parcel for unpaid assessments (Section 15.2); foreclosure action may be brought; notice required; receiver may be appointed (Section 15.4); institutional mortgagees have protections (Section 15.5) (Sections 15.2, 15.3, 15.4, 15.5)

Reserves & fees

Reserve for Common Expenses required if required by law (Section 14 - 'reserve for (if required by law)') (Section 14)

Architectural approval

Board must answer written request within 30 days after request and all additional information received; failure to do so constitutes consent (Section 11.1) (Section 11.1)

Insurance

Association shall obtain casualty insurance on Building and improvements (100% replacement value, excluding foundation); comprehensive general liability ($1,000,000 CSL, $300,000/person, $100,000 property); fidelity bond optional (Section 1 (Section 16.2)

Use restrictions

Implied by definition of 'Residential Unit' intended for residential uses (Section 2.26) and the development being residential; not explicitly stated as exclusive use (Section 2.26)

Voting & meetings

Each Unit entitled to one vote cast by its Owner in accordance with By-Laws and Articles (Section 7.2); voting may be by proxy (Section 8.1 - 'Directors and members not present ... may express their approval in writing') (Sections 7.2, 8.1)

Amendments

By Association: affirmative vote of >50% units and >=66.67% of Board, or >66.67% of units (Section 8.1). Prior to turnover: Developer may amend to correct error without materially affecting property rights (Section 8.2). Execution and recor (Article 8 (Sections 8.1-8.5))

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