The Colonnade on 5th

Key facts from The Colonnade on 5th's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (residential, mixed-use with commercial parcel) (Section 1)

Governing law

Chapter 718, Florida Statutes (Condominium Act) (Section 1, 4)

Assessments & dues

Developer guaranteed maximum: $1,725/quarter (2004), $1,750/quarter (2005), $1,775/quarter until turnover (Section 10.12)

Special assessments

Permitted for unusual, nonrecurring, or unbudgeted expenses; may be levied without Unit Owner vote in certain circumstances (e.g., common element damage less than very substantial) (Section 10 intro, 16.2(B))

Collections & liens

Association has lien on condominium parcel for unpaid assessments; perfected by recording Claim of Lien; may foreclose in manner provided by Condominium Act; lien subordinate to first mortgage, superior to other liens (Section 10.8, 10.9, 10.10)

Reserves & fees

Common expenses include amounts budgeted for funding reserve accounts (Section 10.1)

Pets

Yes, with restrictions (Section 12.5)

Leasing & rentals

Yes, with restrictions (Section 13)

Architectural approval

Yes; no material alterations or substantial additions to Unit or common elements, or changes to exterior appearance, without written approval of Board of Directors (Section 11.5)

Home business

Personal or professional library, personal business records, telephone calls, written correspondence are customarily incident to residential use and not prohibited (Section 12.1)

Maintenance

Association: all exterior building walls and roofs (Section 11.1(E)) (Section 11.1(E))

Insurance

Not explicitly stated; but Section 16.1 states Association not responsible for paying deductible for Unit damage—so owner likely pays (Section 16.1)

Use restrictions

Each Unit shall be occupied by only one family and its guests as a residence; no business or commercial activity (Section 12.1)

Voting & meetings

One vote per Unit; total 17 votes (Section 4.28)

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