Terracina at Lake Forest Property Owners Association, Inc.

Key facts from Terracina at Lake Forest Property Owners Association, Inc.'s documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Commercial/Retail Property Owners Association (Article I Section 5: 'Terracina Commerci)

Units / lots

4 (Lots C-1, C-2, C-3, C-4) plus 3 tracts (J, K, M) designated as Roads (Article I Sections 11, 19 and 22)

Developer / declarant

Robert T. Hattaway, as Successor Trustee of Agreement for Land Acquisition by Co-Tenants dated December 1, 1970, and as Successor Trustee of Agreement for Land Acquisition by Co-Tenants dated January 5, 1973 (Opening paragraph)

Governing law

Chapter 617, Florida Statutes (nonprofit corporations) (Article I Section 5)

Assessments & dues

Not fixed; determined by Board via budget; initial amount not stated (Article V Section 5)

Special assessments

For capital improvements; requires 75% approval of Members present and voting (in person or by proxy) (Article V Section 3)

Collections & liens

All assessments secured by continuing lien; subordinate to first priority mortgage; foreclosure in same manner as mortgages in Florida (Article V Sections 7, 9, 11)

Leasing & rentals

Yes; Lessee defined as person in possession under written lease; Owner may delegate Common Area use rights to Lessees (Article I Section 16; Article II Section)

Fences

Height, type, materials approved by Architectural Committee; height measured from existing property elevations (Article VII Section 10)

Architectural approval

Yes for all Structures, buildings, parking covers, sheds, fences, outbuildings, color changes, additions, exterior alterations (Article VI Section 1)

Signs & flags

American flag allowed on flagpole; other flagpoles and flags restricted (Article VII Section 15)

Setbacks / home size

As shown on Plat and per applicable governmental ordinances (Article VII Section 14)

Voting & meetings

Two classes: Class A (owners other than Developer) with votes per Exhibit D based on lot area; Class B (Developer) with 3 votes for every Class A vote (Article IV Section 2)

Amendments

By approval of Members casting not less than 2/3 of votes (excluding Developer); no amendment impairing Developer or institutional Mortgagee without written approval; Developer may amend within first year for corrections (Article VIII Section 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.