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News Article

4/9/2010 - Amendment to Condo Docs Mailed to Homeowners

The letter below is being mailed to all condo homeowners.

In summary the amendment adds the stipulation that homeowner lessees shall be required to pay their rent directly to the association if the homeowner is delinquent in paying their HOA fees.

This change takes effect immediately and applies to all new and renewal leases but not to current leases.

 ***** Start Letter

To: Condominium Homeowners

Subject: Amendment to Condominium Declaration

Pursuant to the Developer's right to amend the condominium documents prior to turnover, and because the process is easier then after turnover to amend the docs, the Developer amended the Condominium Declaration on March 29, 2010. The Developer, along with the input of the non-developer board members, made the following changes to incorporate a section on the leasing of units by homeowners.

Section 15.9 is hereby amended to include the following: Every lease of a Unit shall specifically provide (or, if it does not, shall be automatically deemed to provide) an express statement that a material condition of the lease shall be the Owner's collateral assignment of rents of the leased Unit to the Association ("Collateral Assignment of Rents"). Only in the event an Owner of a leased Unit defaults on the obligation to timely make payments of Assessments, as the same may arise from time to time, the Collateral Assignment of Rents shall become effective. Upon the Collateral Assignment of Rents becoming effective, the Association shall have the right at any time to provide ten (10) days written notice to the Owner and the tenant that all subsequent lease payments are to be forwarded by the tenant directly to the Association, until otherwise notified by the Association. The Association shall immediately apply collected rents to outstanding Assessment due from the Owner and immediately remit the balance of the rent to the Owner. Notwithstanding anything to the contrary herein, in the event the tenant fails to forward rent directly to the Association, the Association may immediately commence legal action to terminate the lease subject to the provisions of Florida law and this Declaration, and secure the removal of the tenant. Any and all fees and costs incurred, including attorney's fees, shall be recoverable by the Association from the Owner. This subsection shall also apply to any subleases, assignments or renewals of leases. The Association shall have the right to require that each lease contain certain uniform provisions, including those reflected herein and any promulgated rules and regulations regarding resident conduct. Notwithstanding anything to the contrary set forth herein, these restrictions and limitations shall not apply to the Developer, its designees, successors and assigns as set forth in Section 15.14 of the Declaration and the Developer shall have the right to enter into leases of its Lots with any tenant it deems appropriate in its sole and absolute discretion.

This change takes effect immediately and applies to all new and renewal leases but not to current leases.

A copy of the amendment is attached for your files.

Signed,

Green Cay Condominium
Board Of Directors

***** End Letter

Click here for a copy of the amendment.


Peter Schulz - Editor - Email CM

 
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