September 15, 2010
To all: Caribe Resort Condominium Owners “PLEASE VOTE”
From: Caribe Resort Homeowners Association Board of Directors
Re: Proposed Amendment to Caribe Condominium Homeowner’s Association Documents (HIGH IMPORTANCE TO CARIBE RESORT PROJECT)
The Board of Directors is recommending a proposed amendment to the Caribe Condominium Association Documents that would restate the minimum length of a rental guest stay from (1) day to a minimum stay of (3) days. This proposal is to assist Caribe Owners in getting refinancing and helping new buyers with initial financing. It will lift some of the restrictions the lending institutions have on financing for Caribe Condominiums. This information is located in the condo docs under the following:
Offering Statement for Caribe Resort, A Condominium,
Orange Beach, Alabama
According to Section 35-8A-403 of the Code of Alabama. See page 14 of 17 paragraph (15.)
Reads as follows:
(… A minimum rental or leasing period is (1) day.)
Proposed Change:
(… A minimum rental or leasing period is (3) days.)
To make an amendment to the condominium documents can be found under the following:
Offering Statement for Caribe Resort, A Condominium
Orange Beach, Alabama
According to Section 35-8A-403 of the Code of Alabama
(15) Units may be leased or rented by the Unit Owners; and the rights of any tenant is hereby made subject to the power of the Association to prescribe reasonable rules and regulations relating to the leasing or rental of a Unit and to enforce the same directly against a tenant or other occupant by the exercise of such remedies as the Board of Directors deems appropriate, including eviction. Each Unit Owner who shall lease or rent his Unit irrevocable empowers the Association or its managing agent to enforce the rules and regulations and to terminate the lease and evict any tenant or occupant who fails to comply with the rules and regulations. The Association, the Board of Directors, or any agent thereof, shall not become liable to any Unit Owner or any person who sublets a Unit, or other party for any loss of rents or other damages resulting from the reasonable exercise of the provisions of this paragraph. Nothing to the contrary withstanding, a Unit owner is primarily responsible for the acts or omissions of its family, tenants, guests, invitees, or occupants. Individual rooms located within a Unit shall not be leased or rented. The minimum rental or leasing period is one (1) day.
___I agree with changing the minimum rental guest stay from (1) day to (3) days
___ I do not agree with changing the minimum rental guest stay from (1) day to (3) days.
Owner Signature ________________________Date_____________________
Caribe Unit(s) ____________________________________________________
Please fax back ASAP to Caribe Owners Association at 251.980.9035