Magnolia Point Neighborhood Association, Inc.

Key facts from Magnolia Point Neighborhood Association, Inc.'s documents

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

Community type

Condominium

Legal name

ON THE POINT CONDOMINIUM

Developer / declarant

ROBERT F. MONINE and CAROLE F. MONINE

Governing law

Chapter 718, Florida Statutes (the 'Condominium Act') (Article I)

Assessments & dues

Set by annual budget adopted by the Board (Article XVII.3)

Special assessments

Allowed for extraordinary expenses, construction costs, owner defaults, etc. (Article XVII.2)

Collections & liens

Lien on unit for unpaid assessments; foreclosure as on a mortgage (Article 17.7, 17.9(c))

Reserves & fees

Developer may waive reserves for first two years; thereafter reserves may only be waived or reduced by vote of majority of nondeveloper voting interests (Article 17.4: 'Developer may vote to wai)

Pets

false (Article 10.2: 'A Unit Owner shall NOT be)

Leasing & rentals

true (Article 16.1: 'the foregoing shall not c)

Home business

Prohibited; no commercial occupation or activity except as permitted for Developer (Article 10.1: 'no commercial occupation )

Use restrictions

Single-family residential use only (Article 10.1: 'Each Unit... shall be for)

Voting & meetings

One (1) vote per Unit (Article XII.2: 'the Owner or the Owners )

Amendments

By majority of Board and two-thirds (2/3) of Unit Owners, subject to limitations; Developer consent required for changes affecting Developer's rights; Institutional First Mortgagee consent for certain changes; amendment to correct scrivener (Article 19.10.1, 19.10.2, 19.10.3)

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