Sapphire Lakes

Key facts from Sapphire Lakes's documents

Reflects the 1996 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1.2: 'condominium form of owners)

Governing law

Florida Condominium Act (Chapter 718, Florida Statutes) (Section 2.1: 'Act means the Condominium )

Assessments & dues

Board of Directors determines amount of Assessments payable by Unit Owners to meet Common Expenses (Section 14)

Special assessments

Not explicitly defined but capital additions/alterations/improvements costing more than $10,000 aggregate in a calendar year require Unit Owner approval; those costing $10,000 or less may be made without approval (Section 10)

Collections & liens

Association has lien on Condominium Parcel for unpaid Assessments; may foreclose in manner of mortgage; may accelerate next 12 months of assessments upon 30 days notice (Section 15.2, 15.3, 15.4)

Reserves & fees

Required if by law; Common Expenses may include reserves; otherwise not mandated in this Declaration (Section 14: 'reserve for (if required by)

Use restrictions

Yes, defined as 'Residential Unit' intended for residential uses (Section 2.24: 'Residential Unit means a )

Voting & meetings

Each Unit entitled to one (1) vote cast by its Owner (Section 7.2: 'Each Unit shall be entitle)

Amendments

Amendments by Association require either: (a) affirmative vote of Unit Owners >50% of Units and not less than 66 2/3% of Board, or (b) Unit Owners >66 2/3% of Units. Developer may amend while it has right to elect majority of Board to corre (Section 8.1, 8.2, 8.4)

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