Villas by the River Condo Assn

Key facts from Villas by the River Condo Assn's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Declaration title and Section 1.2)

Developer / declarant

Sea Oaks Investment, Ltd. (Preamble)

Governing law

Florida Condominium Act, Chapter 718, Florida Statutes (Section 1.2)

Assessments & dues

Board prepares annual budget, determines Assessments based on Common Expenses, allocates per unit share (Section 9.1)

Special assessments

Board may levy nonrecurring costs or capital improvements; purpose must be stated in notice (Section 9.9)

Collections & liens

Association has lien for unpaid Assessments and Charges; may record claim of lien and foreclose like mortgage (Section 9.4)

Reserves & fees

Budget shall contain reserves for capital expenditures and deferred maintenance, but may be waived per By-Laws (Section 9.1)

Leasing & rentals

Implied by Right of First Refusal and leasing provisions in Article 14; timesharing prohibited (Article 14, Section 17.6)

Parking & vehicles

Each Unit entitled to exclusive use of one garage (Limited Common Element); also designated parking on Common Elements (Section 3.3(b) and 3.4(d))

Architectural approval

Yes, prior written consent from Board and Master Association for alterations (Section 7.2(a))

Signs & flags

Developer may erect signs for sales (Section 3.4(f)); otherwise, exterior improvements/landscaping subject to Board approval (Section 13.8). (Section 3.4(f), 13.8)

Maintenance

Owner maintains Unit and Limited Common Elements; Association maintains Common Elements and Association Property (Sections 6.1 and 6.2)

Insurance

Casualty insurance on Insured Property (building, fixtures, etc.) at 100% replacement value; general liability with $300k combined single limit (Sections 10.2(a) and 10.2(b))

Use restrictions

Prohibited (Section 13.5)

Voting & meetings

One vote per Unit (Section 4.3)

Amendments

By Association: resolution by >50% Units + >=66.67% of Board, or after turnover >=67% of Units present at quorum; By Developer while in control without other approval except for certain changes; mortgagee consent required for certain modifi (Sections 5.1, 5.2, 5.4)

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