Oak Point A-1-A Condominium Association, Inc.

Key facts from Oak Point A-1-A Condominium Association, Inc.'s documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Oak Point Property Owners' Association, Inc.

Units / lots

10 Condominium Units (Units 1-7 on the first floor; Units 21-23 on the second floor) (Article V.E.1)

Developer / declarant

Oak Point #1, Inc., a Florida corporation (Opening paragraph)

Governing law

Chapter 718, Florida Statutes (Condominium Act) (Article I (Purpose))

Assessments & dues

Board adopts a budget on or before December 1 of the prior year; contributions based on the budget and allocated one-ninth (1/9th) share per lot (Article VIII, Sections 1-2)

Special assessments

Board may assess a special assessment by majority vote; allocated one-ninth (1/9th) per lot unless the membership votes for a special area, in which case a majority of the lot owners to be assessed must approve (Article VIII, Section 4)

Collections & liens

Unpaid fees and assessments become a lien against the property owner's lot and may be foreclosed in the same manner as foreclosure actions pursuant to Florida law, including reasonable attorneys' fees and costs (Article VIII, Section 5)

Reserves & fees

Board of Directors may elect to fund a reserve for capital improvements and maintenance (Article VIII, Section 1)

Leasing & rentals

Owners may rent their Units after approval by the Board of Directors as elsewhere required (Article XV.H)

Parking & vehicles

Board has sole and absolute discretion to make reasonable regulations for control of parking and use of parking spaces, including designating location and number of spaces for Unit owners, lessees, employees, guests, licensees and invitees (Article VII)

Architectural approval

Structural alterations in portions of Units maintained by the Association require prior written approval of the affected Unit Owners and the Board; plans by a Florida-licensed architect or engineer must be filed unless waived in writing (Article X.A.4)

Home business

Units must be occupied and used in accordance with applicable zoning laws and for no other purpose; the building is commercial (Article XV.A)

Maintenance

Included in the Association's responsibility for all portions of the Condominium building except interior surfaces of Units (Article X.A.1.a)

Insurance

Association purchases casualty insurance for buildings/improvements, fire and extended coverage, flood, vandalism/malicious mischief, public liability, hired/non-owned automobile, workers' compensation, and other insurance the Board deems d (Article XIII.B)

Use restrictions

False - no Unit shall be used as a dwelling and no one shall reside in any Unit (Article XV.C)

Voting & meetings

Majority vote of lot owners may require all lot sales be subject to Board approval after the first election of Directors (Article IV, Section 4)

Amendments

By-Laws amended only by a two-thirds majority vote of property owners present at a regular or special meeting (Article XII)

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