Riverside Village Association, Inc.

Key facts from Riverside Village Association, Inc.'s documents

Reflects the 1993 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Submission Statement (RIVERSIDE VILLAGE,)

Legal name

RIVERSIDE VILLAGE ASSOCIATION, INC. (Article IV, Section 1)

Units / lots

33 (12 apartment units and 21 commercial units) (Article V: 'twelve (12) are Condominium )

Governing law

Chapter 718, Florida Statutes (The Condominium Act) (Article I (Submission Statement))

Assessments & dues

Board of Directors estimates common expenses and assesses unit owners; assessments based on ownership interest in common elements (percentages per Exhibit #2) (Article IV, Section 2; Article VII, Para)

Special assessments

Permitted; Board may levy additional assessments to meet needs, including for emergencies or deficiency in reconstruction (Article XV, Paragraph D; Article XXII, P)

Collections & liens

Association has lien on each unit for unpaid assessments; includes reasonable attorneys' fees; lien effective upon recording (Article XVI)

Reserves & fees

Common expenses include 'creation of reasonable contingency or reserve requirements for the protection of the members and the Condominium property (i.e., reserve for replacements, operating reserve to cover deficiencies in collections)' (Article XV, Paragraph B)

Leasing & rentals

Yes, but subject to Association approval (except Developer and certain mortgagee transfers) (Article XIII, Paragraphs B, C, D, I)

Architectural approval

Yes, for structural modifications, alterations, changes to exterior, installation of antennas, etc. (Article XIX, Paragraph A)

Home business

Not explicitly prohibited for second floor? But units are for single-family residence only; commercial activities likely prohibited. (Article XII, Paragraph II(A): 'Second fl)

Signs & flags

For second floor units: no 'For Sale' or 'For Rent' signs or other signs on parcel or condominium property. For commercial units: signs allowed, must be illuminated, approximately 2'x8', prior approval from Association. (Article XII, Paragraph I (commercial sig)

Maintenance

Owner maintains interior (including HVAC, electrical from fuse box inward, glass, screening); Association maintains common elements and limited common elements, including exterior walls (if part of overall program) and electrical up to unit (Article XVIII, Paragraphs A, B)

Insurance

Association may accept deductible if coverage not reasonably available without (Article XXII, Paragraph A)

Use restrictions

Second floor apartments must be single-family residences; first floor commercial/office (Article XII, Paragraphs I, II)

Voting & meetings

One vote per unit owned (apartment or commercial) (Article X: 'each apartment owner is enti)

Amendments

By 2/3 vote of unit owners present and voting at a meeting with quorum; recorded; cannot change common element shares without owner consent; scrivener's errors may be corrected by Board or majority vote (Article XI, Paragraphs A, B, C)

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