Brandywine Condominium Association

DECLARATION OF CONDOMINIUM as adopted January 2, 2006
and amended December 2, 2008, December 7, 2009, January 23, 2012 and December 7, 2021.

BYLAWS Exhibit "D' to the Declaration of Condominium
AMENDED AND RESTATED

6. FISCAL MANAGEMENT - The provisions for fiscal management of the Association set forth in the Declaration, to which reference is hereby made, shall be supplemented by the following provisions.

A. Maintenance and Assessment Roll - Rolls shall be maintained in a set of accounting books in which there shall be an account for each residential unit. Such an account shall designate the name and address of the owner or owners, the amount of each maintenance charge and assessment against the owners, the dates and amounts in which they come due, the amounts paid upon the account and the balance due.

1. The Board of Directors, subject to the provisions of the Declaration of Condominium, shall approve a budget for each calendar year which shall contain estimates of the cost of performing the functions of the Association. The budget shall include estimated common expenses and a reasonable allowance for contingencies, and reserves.

2. After Board approval, copies of the proposed annual budget shall be mailed to the unit owners not less than (thirty) 30 days prior to the annual meeting of the Association, at which time the budget will be considered. Should a quorum fail to be present or represented at the meeting or fail to adopt the budget presented or a revised budget, then in such event, the Board of Directors shall have the authority to adopt a budget.

3. Collection of the assessments against the owners based on the annual budget as adopted shall be monthly with payment due, without notice, on the first of each calendar month.

4. The adoption of the budget by the unit owners shall require a vote of not less than a majority vote of the members present or by proxy, and voting at a duly called meeting of the Association.

5. If the annual assessment proves to be insufficient, the budget and assessments may be amended by the Board of Directors at a special meeting thereof called for that purpose. The amended budget shall be subject to the majority approval of membership, at a duly called and noticed special membership meeting. Unpaid assessments for the remaining portion of the year for which an amended assessment is made shall be payable in as many equal installments as there are installment payment dates remaining in the budget year as of the date of the amended assessment. The budget shall not be amended for emergency or special nonrecurring expenses.

6. Assessments for unbudgeted common expenses which cannot be paid from the annual assessments, i.e. emergency or special nonrecurring expenses, shall be proposed by the Board of Directors and adopted by membership at a special or emergency meeting thereof called for that purpose, with notice given to the unit owners as provided for a regular meeting, except in an emergency. The time and manner of payment shall be determined by the Board of Directors.

7. A unit owner, regardless of how title is acquired, shall be liable for aU assessments coming due while he is the unit owner, and such owner, and his grantees in a voluntary conveyance, shall be jointly and severally liable for all unpaid assessments due and payable up to the time of such voluntary conveyance. Such liability may not be avoided by waiver of the use or enjoyment of any of the common elements or by abandonment of the unit for which the assessments are made. Provided, however, that a first mortgage who acquires title by a purchase at a public sale resulting from first mortgage's foreclosure judgment suit or a first mortgage who acquires title by deed in lieu of foreclosure is liable for the unpaid assessments that became due prior to the mortgage's receipt of the deed, but in no event shall the mortgage be liable for more than six (6) months of the unit's unpaid common expenses or assessments accrued before the acquisition of the title to the unit by the mortgage or one percent (I%) of the original mortgage debt, whichever amount is less. The first mortgage's liability does not commence until thirty (30) days after the date the first mortgage received the last payment of principal or interest. Such mortgage may obtain title, own, occupy, lease, sell, or otherwise dispose of such unit without the approval of the Association. This subsection shall be deemed amended as necessary to remain in accordance with Section 718.116, Florida Statutes, as it exists from time to time.

B. Depository - The depository of the Association shall be such bank or banks or investment brokerage firms as shall be designated from time to time by the Board of Directors and in which the monies of the Association shall be deposited. Withdrawal of monies from such accounts shall be only by check or other withdrawal instruments signed by such persons as are authorized by the Board of Directors.

C. Financial Reports - Within ninety (90) days following the end of each fiscal year of the Association, a complete financial report of the accounts of the Association shall be made, including, but not limited to, a complete financial report of actual receipts and expenditures for the previous twelve (12) months, and which shall otherwise comply with the provisions of Section 718.111(13), Florida Statutes. A copy of the report shall be available in the Office to each unit owner and to the Department of Business and Professional Regulation, Division of Florida Land Sales, Condominiums and Mobile Homes within thirty (30) days after its completion and delivery to the Directors or at the annual meeting. In lieu of the financial report required by Section 718.111 (13), Florida Statutes, the Association shall, if an absolute requirement of Section 718, Florida Statutes, and rules adopted thereafter, deliver to the unit owners a complete set of financial statements for the preceding fiscal year of the Association, in accordance with the requirements of law, provided, however, the requirement to have financial statements compiled, reviewed or audited may be waived by the unit owners as provided in Section 718, Florida Statutes.

D. Fidelity Bonds - Fidelity bonds will be required by the Board of Directors from all officers and employees of the Association who control or disburse funds of the Association, and from any contractor handling or responsible for Association funds. The amount of such bonds shall be determined by the Board, but shall be at least the amount of three (3) months maintenance assessments against the members for common expenses plus the reserves; however, the total amount of bonds required shall never be less than the minimum requirements contained in Chapter 718, Florida Statutes, as amended from time to time. A single blanket bond may be used to cover the Directors and the applicable employees. The premiums on such bonds shall be paid by the Association.

Association address

Brandywine Condominium Association
1398 S. Brandywine Circle
Fort Myers, FL 33919

Phone: 239-481-2326
Fax: 239-481-0744
E-Mail: brandywinecondo@embarqmail.com