Q: What are my voting rights in the condominium association?
A: The owner of each apartment is entitled to one vote as a member of the Association. See “By-Laws” and “Declarations of Condominium” of Mayan Towers Condominium II, Inc.
Q: What restrictions exist in the condominium documents on my right to use my unit?
A: The “Current Rules and Regulations” booklet is given to each owner and includes these restrictions.
Q: What restrictions exist in the condominium documents on the leasing of my unit?
A: No apartment owner may dispose of an apartment or any interest in an apartment by lease or rental without prior approval of the Association. Any attempt to lease or rent an apartment without the prior approval of the Association shall be deemed a breach of this Declaration and shall be wholly null and void. An apartment may be leased only once in a rental year (July 1 – June 30) for a minimum of two (2) months with no assignment or subleasing. Owners shall rent only to a single person or married person and spouse with no pets. Owners who individually or jointly own more than (1) apartment shall not rent more than one (1) apartment in a rental year (July 1 – June 30).
Q: How much are my assessments to the condominium association for my unit type, when are they due and what is the mailing address?
A: Monthly assessment amounts vary by unit and are due and payable on the first of each month and are late if not paid by the 10th. Late payments are subject to interest charges at the rate of 18% per annum plus a late payment fee which is the greater of $25.00 or 5% of the delinquent installment. Monthly assessment payments are mailed to:
Mayan Towers Condominium II, Inc.
C/O Capital Realty Advisors Project 429
PO Box 2406
West Palm Beach, FL 33402
Q: Am I required to pay rent or land use fees for recreational or other commonly used facilities? If so, how much am I obligated to pay annually?
A: As of January 1, 2004, the monthly assessment for the recreational facilities is $81.55 per month (which is included in the monthly maintenance fee) and increases each year by $1.95 per month per unit. In the year 2015, owners will no longer pay this fee.
Q: Is the Condominium Association or other mandatory membership association involved in any court cases in which it may face liability in excess of $100,000.00? If so, identify each such case.
A: No.
NOTE: The statements contained herein are only summary in nature. A prospective purchase should refer to all references hereto, the sales contract, and the condominium documents.