Porter Lake Park Condominium Association, Inc.

Key facts from Porter Lake Park Condominium Association, Inc.'s documents

Reflects the 1998 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (industrial) with an owners' association (Article I, section 2 and Article II)

Units / lots

9 suites (Article I, section 4)

Governing law

Chapter 718, Florida Statutes (Condominium Act) (Article I, section 2)

Assessments & dues

Common expenses apportioned according to undivided interest in common elements (1/9 per Suite). (Article VI, section 11)

Special assessments

Not explicitly named, but common expenses include all costs of operation, maintenance, repair, replacement, etc.; Association may assess as needed. (Article VII, section 1)

Collections & liens

Association has lien against a Suite for unpaid assessments and cost of repairs, to same extent as provided by Condominium Act. (Article VI, section 14)

Reserves & fees

Articles of Incorporation (Exhibit C) authorize interest and late charges on delinquent assessments. (Articles of Incorporation Article IV.4(c)

Leasing & rentals

Suite owners may lease without restriction except as provided in Declaration or By-Laws. (Article I, section 8)

Architectural approval

Replacement or modification of glass, screened surfaces, heating/air conditioning units must be approved by Association; no other explicit ARC. (Article III, section 2)

Signs & flags

Developer may erect signs for sales/lease during sales period. (Article IV, section 6)

Insurance

Association must obtain all-risk policy covering entire Condominium Property, common elements, building; fire, extended coverage, vandalism, malicious mischief; also public liability insurance. (Article VIII, sections 1, 3)

Use restrictions

Prohibited: 'No Suite owner may use any Suite for residential purposes'. (Article I, section 8)

Voting & meetings

One vote per Suite; joint owners must designate one vote; multiple Suites owned by same owner can be voted as aggregate total. (Article II, section 4)

Amendments

Majority vote of Suite owners; Developer may amend to correct errors/change boundaries without consent; certain amendments require consent of affected owners and lienholders. (Article V, sections 2, 3, 4)

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