Cay Lagoon

Key facts from Cay Lagoon's documents

Reflects the 2025 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Title and Section 1: 're-submitted to co)

Units / lots

32 (condominium parcels, each Unit is a parcel) (Section 8.1; Section 6 'Each Unit and it)

Governing law

Chapter 718, Florida Statutes (Condominium Act) (Section 1)

Assessments & dues

Board adopts annual budget; Assessments based on Unit's ownership share of Common Elements (1/32 each) (Section 11.2; Section 11.2.1)

Special assessments

Board may levy additional Assessments if deemed necessary, in its sole discretion, consistent with Bylaws (Section 11.2, second paragraph)

Collections & liens

Association has lien on each condominium parcel for unpaid Assessments, interest, attorneys fees, costs. Lien subordinate to recorded first mortgage. Foreclosure requires 45-day notice. Lien effective upon recording claim of lien; must enfo (Sections 11.7, 11.8, 11.9)

Reserves & fees

General operating reserve may be included in annual budget, not to exceed 10% of current annual Assessment; no further contributions when reserve reaches 25% of current annual Assessment (Section 11.2.2)

Leasing & rentals

Yes, but privilege not right; subject to Board approval and regulations (Section 12 (introduction))

Architectural approval

Yes, for material modifications, substantial alterations, or changes in exterior appearance; written consent of Board required (Section 9.7)

Maintenance

Not explicitly stated for main building roofs; Association responsible for 'all exterior building walls' and 'concrete foundations' but not roof. Garage roof: Association responsible for roof and structural components of garages. (Section 9.1.8 (exterior walls and founda)

Use restrictions

Yes; purpose is 'to maintain a quiet, tranquil and Single Family oriented atmosphere' (Section 3; Section 12 (leasing section) )

Voting & meetings

Each Unit is entitled to one (1) vote, to be cast by its Owner in accordance with the Bylaws (Section 8.4)

Amendments

Material alterations to Common Elements costing >$10,000 require approval of majority of Voting Interests present and voting at a meeting; alterations costing less may be made with Board approval. No Owner approval needed for work necessary (Section 9.2 (additions, alterations, or )

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