Bill Text: FL S0120 | 2013 | Regular Session | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Condominiums
Spectrum: Slight Partisan Bill (? 2-1)
Status: (Passed) 2013-06-06 - Chapter No. 2013-122, companion bill(s) passed, see CS/CS/CS/HB 73 (Ch. 2013-188) [S0120 Detail]
Download: Florida-2013-S0120-Comm_Sub.html
Bill Title: Condominiums
Spectrum: Slight Partisan Bill (? 2-1)
Status: (Passed) 2013-06-06 - Chapter No. 2013-122, companion bill(s) passed, see CS/CS/CS/HB 73 (Ch. 2013-188) [S0120 Detail]
Download: Florida-2013-S0120-Comm_Sub.html
Florida Senate - 2013 (Corrected Copy) CS for SB 120 By the Committee on Regulated Industries; and Senator Latvala 580-01097A-13 2013120c1 1 A bill to be entitled 2 An act relating to condominiums; amending s. 718.104, 3 F.S.; allowing condominium units to come into 4 existence regardless of requirements or restrictions 5 in a declaration; amending s. 718.105, F.S.; extending 6 the amount of time that a clerk may hold a sum of 7 money before notifying the registered agent of an 8 association that the sum is still available and the 9 purpose for which it was deposited; amending s. 10 718.110, F.S.; changing the requirements relating to 11 the circumstances under which a declaration of 12 condominium or other documents are effective to create 13 a condominium; making technical changes; amending s. 14 718.111, F.S.; revising the conditions under which 15 unit owners may vote on issues related to the 16 preparation of financial reports; making technical 17 changes; amending s. 718.112, F.S.; revising the 18 conditions under which a developer may vote to waive 19 or reduce the funding of reserves; making technical 20 changes; amending s. 718.114, F.S.; revising the 21 conditions under which a developer may acquire 22 leaseholds, memberships, or other possessory or use 23 interests; making technical changes; amending s. 24 718.301, F.S.; revising the conditions under which 25 unit owners other than the developer are entitled to 26 elect at least a majority of the members of a board of 27 administration; revising requirements related to the 28 documents that the developer must deliver to the 29 association; making technical changes; amending s. 30 718.403, F.S.; revising the conditions under which a 31 developer may amend a declaration of condominium 32 governing a phase condominium; providing for an 33 extension of the 7-year period for the completion of a 34 phase; providing requirements for the adoption of an 35 amendment; providing that an amendment adopted 36 pursuant to this section is exempt from other 37 requirements of law; providing an effective date. 38 39 Be It Enacted by the Legislature of the State of Florida: 40 41 Section 1. Subsection (2) of section 718.104, Florida 42 Statutes, is amended to read: 43 718.104 Creation of condominiums; contents of declaration. 44 Every condominium created in this state shall be created 45 pursuant to this chapter. 46 (2) A condominium is created by recording a declaration in 47 the public records of the county where the land is located, 48 executed and acknowledged with the requirements for a deed. All 49 persons who have record title to the interest in the land being 50 submitted to condominium ownership, or their lawfully authorized 51 agents, must join in the execution of the declaration. Upon the 52 recording of the declaration, or an amendment adding a phase to 53 the condominium under s. 718.403(6), all units described in the 54 declaration or phase amendment as being located in or on the 55 land then being submitted to condominium ownership shall come 56 into existence, regardless of the state of completion of planned 57 improvements in which the units may be located or any other 58 requirement or description that a declaration may provide. Upon 59 recording the declaration of condominium pursuant to this 60 section, the developer shall file the recording information with 61 the division within 120 calendar days on a form prescribed by 62 the division. 63 Section 2. Paragraph (c) of subsection (4) of section 64 718.105, Florida Statutes, is amended to read: 65 718.105 Recording of declaration.— 66 (4) 67 (c) If the sum of money held by the clerk has not been paid 68 to the developer or association as provided in paragraph (b) 69 within 53years after the date the declaration was originally 70 recorded, the clerk may notify, in writing, the registered agent 71 of the association that the sum is still available and the 72 purpose for which it was deposited. If the association does not 73 record the certificate within 90 days after the clerk has given 74 the notice, the clerk may disburse the money to the developer. 75 If the developer cannot be located, the clerk shall disburse the 76 money to the Division of Florida Condominiums, Timeshares, and 77 Mobile Homes for deposit in the Division of Florida 78 Condominiums, Timeshares, and Mobile Homes Trust Fund. 79 Section 3. Subsection (10) of section 718.110, Florida 80 Statutes, is amended to read: 81 718.110 Amendment of declaration; correction of error or 82 omission in declaration by circuit court.— 83 (10) If there is an omission or error in a declaration of 84 condominium, or any other document required to establish the 85 condominium, and thewhichomission or error would affect the 86 valid existence of the condominium, the circuit court mayhas87jurisdiction toentertain a petition of one or more of the unit 88 owners in the condominium, or of the association, to correct the 89 error or omission, and the action may be a class action. The 90 court may require that one or more methods of correcting the 91 error or omission be submitted to the unit owners to determine 92 the most acceptable correction. All unit owners, the 93 association, and the mortgagees of a first mortgage of record 94 must be joined as parties to the action. Service of process on 95 unit owners may be by publication, but the plaintiff must 96 furnish every unit owner not personally served with process with 97 a copy of the petition and final decree of the court by 98 certified mail, return receipt requested, at the unit owner’s 99 last known residence address. If an action to determine whether 100 the declaration or another condominium document complies with 101 the mandatory requirements for the formation of a condominium is 102 not brought within 3 years of the recording of the certificate 103 of a surveyor and mapper pursuant to s. 718.104(4)(e) or the 104 recording of an instrument that transfers title to a unit in the 105 condominium which is not accompanied by a recorded assignment of 106 developer rights in favor of the grantee of such unit, whichever 107 occurs first,recording of the declaration,the declaration and 108 other documents will effectivelyshall be effective under this109chapter tocreate a condominium, as of the date the declaration 110 was recorded, regardless of whetherwhether or notthe documents 111 substantially comply with the mandatory requirements of law. 112 However, both before and after the expiration of this 3-year 113 period, the circuit court has jurisdiction to entertain a 114 petition permitted under this subsection for the correction of 115 the documentation, and other methods of amendment may be 116 utilized to correct the errors or omissions at any time. 117 Section 4. Paragraph (d) of subsection (13) of section 118 718.111, Florida Statutes, is amended to read: 119 718.111 The association.— 120 (13) FINANCIAL REPORTING.—Within 90 days after the end of 121 the fiscal year, or annually on a date provided in the bylaws, 122 the association shall prepare and complete, or contract for the 123 preparation and completion of, a financial report for the 124 preceding fiscal year. Within 21 days after the final financial 125 report is completed by the association or received from the 126 third party, but not later than 120 days after the end of the 127 fiscal year or other date as provided in the bylaws, the 128 association shall mail to each unit owner at the address last 129 furnished to the association by the unit owner, or hand deliver 130 to each unit owner, a copy of the financial report or a notice 131 that a copy of the financial report will be mailed or hand 132 delivered to the unit owner, without charge, upon receipt of a 133 written request from the unit owner. The division shall adopt 134 rules setting forth uniform accounting principles and standards 135 to be used by all associations and addressing the financial 136 reporting requirements for multicondominium associations. The 137 rules must include, but not be limited to, standards for 138 presenting a summary of association reserves, including a good 139 faith estimate disclosing the annual amount of reserve funds 140 that would be necessary for the association to fully fund 141 reserves for each reserve item based on the straight-line 142 accounting method. This disclosure is not applicable to reserves 143 funded via the pooling method. In adopting such rules, the 144 division shall consider the number of members and annual 145 revenues of an association. Financial reports shall be prepared 146 as follows: 147 (d) If approved by a majority of the voting interests 148 present at a properly called meeting of the association, an 149 association may prepare: 150 1. A report of cash receipts and expenditures in lieu of a 151 compiled, reviewed, or audited financial statement; 152 2. A report of cash receipts and expenditures or a compiled 153 financial statement in lieu of a reviewed or audited financial 154 statement; or 155 3. A report of cash receipts and expenditures, a compiled 156 financial statement, or a reviewed financial statement in lieu 157 of an audited financial statement. 158 159 Such meeting and approval must occur before the end of the 160 fiscal year and is effective only for the fiscal year in which 161 the vote is taken, except that the approval may also be 162 effective for the following fiscal year. IfWith respect to an163association to whichthe developer has not turned over control 164 of the association, all unit owners, including the developer, 165 may vote on issues related to the preparation of the 166 association’s financial reportsfor the first 2 fiscal yearsof167the association’s operation, frombeginning withthe date of 168 incorporation of the association through the end of the second 169 fiscal year after the fiscal year in which the certificate of a 170 surveyor and mapper is recorded pursuant to s. 718.104(4)(e) or 171 an instrument that transfers title to a unit in the condominium 172 which is not accompanied by a recorded assignment of developer 173 rights in favor of the grantee of such unit is recorded, 174 whichever occurs firstdeclaration is recorded. Thereafter, all 175 unit owners except the developer may vote on such issues until 176 control is turned over to the association by the developer. Any 177 audit or review prepared under this section shall be paid for by 178 the developer if done before turnover of control of the 179 association. An association may not waive the financial 180 reporting requirements of this section for more than 3 181 consecutive years. 182 Section 5. Paragraph (f) of subsection (2) of section 183 718.112, Florida Statutes, is amended to read: 184 718.112 Bylaws.— 185 (2) REQUIRED PROVISIONS.—The bylaws shall provide for the 186 following and, if they do not do so, shall be deemed to include 187 the following: 188 (f) Annual budget.— 189 1. The proposed annual budget of estimated revenues and 190 expenses mustshallbe detailed and mustshallshow the amounts 191 budgeted by accounts and expense classifications, including, if 192 applicable, but not limited to, those expenses listed in s. 193 718.504(21). A multicondominium association shall adopt a 194 separate budget of common expenses for each condominium the 195 association operates and shall adopt a separate budget of common 196 expenses for the association. In addition, if the association 197 maintains limited common elements with the cost to be shared 198 only by those entitled to use the limited common elements as 199 provided for in s. 718.113(1), the budget or a schedule attached 200 to it musta schedule attached thereto shallshow the amount 201 budgeted for this maintenanceamounts budgeted therefor. If, 202 after turnover of control of the association to the unit owners, 203 any of the expenses listed in s. 718.504(21) are not applicable, 204 they need not be listed. 205 2. In addition to annual operating expenses, the budget 206 mustshallinclude reserve accounts for capital expenditures and 207 deferred maintenance. These accounts mustshallinclude, but are 208 not limited to, roof replacement, building painting, and 209 pavement resurfacing, regardless of the amount of deferred 210 maintenance expense or replacement cost, and for any other item 211 that has afor which thedeferred maintenance expense or 212 replacement cost that exceeds $10,000. The amount to be reserved 213 mustshallbe computed usingby means ofa formulawhich is214 based upon estimated remaining useful life and estimated 215 replacement cost or deferred maintenance expense of each reserve 216 item. The association may adjust replacement reserve assessments 217 annually to take into account any changes in estimates or 218 extension of the useful life of a reserve item caused by 219 deferred maintenance. This subsection does not apply to an 220 adopted budget in which the members of an association have 221 determined, by a majority vote at a duly called meeting of the 222 association, to provide no reserves or less reserves than 223 required by this subsection. However, prior to turnover of 224 control of an association by a developer to unit owners other 225 than a developer pursuant to s. 718.301, the developer may vote 226 to waive the reserves or reduce the funding of reserves through 227 the period expiring at the end of the second fiscal year after 228 the fiscal year in which the certificate of a surveyor and 229 mapper is recorded pursuant to s. 718.104(4)(e) or an instrument 230 that transfers title to a unit in the condominium which is not 231 accompanied by a recorded assignment of developer rights in 232 favor of the grantee of such unit is recorded, whichever occurs 233 first,for the first 2 fiscal years of the association’s234operation, beginning with the fiscal year in which the initial235declaration is recorded,after which time reserves may be waived 236 or reduced only upon the vote of a majority of all nondeveloper 237 voting interests voting in person or by limited proxy at a duly 238 called meeting of the association. If a meeting of the unit 239 owners has been called to determine whether to waive or reduce 240 the funding of reserves, and no such result is achieved or a 241 quorum is not attained, the reservesasincluded in the budget 242 shall go into effect. After the turnover, the developer may vote 243 its voting interest to waive or reduce the funding of reserves. 244 3. Reserve funds and any interest accruing thereon shall 245 remain in the reserve account or accounts, and mayshallbe used 246 only for authorized reserve expenditures unless their use for 247 other purposes is approved in advance by a majority vote at a 248 duly called meeting of the association. Prior to turnover of 249 control of an association by a developer to unit owners other 250 than the developer pursuant to s. 718.301, the developer 251 controlled association shall not vote to use reserves for 252 purposes other than that for which they were intended without 253 the approval of a majority of all nondeveloper voting interests, 254 voting in person or by limited proxy at a duly called meeting of 255 the association. 256 4. The only voting interests thatwhichare eligible to 257 vote on questions that involve waiving or reducing the funding 258 of reserves, or using existing reserve funds for purposes other 259 than purposes for which the reserves were intended, are the 260 voting interests of the units subject to assessment to fund the 261 reserves in question. Proxy questions relating to waiving or 262 reducing the funding of reserves or using existing reserve funds 263 for purposes other than purposes for which the reserves were 264 intended shall contain the following statement in capitalized, 265 bold letters in a font size larger than any other used on the 266 face of the proxy ballot: WAIVING OF RESERVES, IN WHOLE OR IN 267 PART, OR ALLOWING ALTERNATIVE USES OF EXISTING RESERVES MAY 268 RESULT IN UNIT OWNER LIABILITY FOR PAYMENT OF UNANTICIPATED 269 SPECIAL ASSESSMENTS REGARDING THOSE ITEMS. 270 Section 6. Section 718.114, Florida Statutes, is amended to 271 read: 272 718.114 Association powers.—An association may enter into 273 agreements to acquire leaseholds, memberships, and other 274 possessory or use interests in lands or facilities such as 275 country clubs, golf courses, marinas, and other recreational 276 facilities, regardless of whetheror notthe lands or facilities 277 are contiguous to the lands of the condominium, if such lands 278 and facilities are intended to provide enjoyment, recreation, or 279 other use or benefit to the unit owners. All of these 280 leaseholds, memberships, and other possessory or use interests 281 existing or created at the time of recording the declaration 282 must be stated and fully described in the declaration. 283 Subsequent to the recording of the declaration, agreements 284 acquiring these leaseholds, memberships, or other possessory or 285 use interests which are not entered into within 12 months of the 286 date of the recording of the certificate of a surveyor and 287 mapper pursuant to s. 718.104(4)(e) or the recording of an 288 instrument that transfers title to a unit in the condominium 289 which is not accompanied by a recorded assignment of developer 290 rights in favor of the grantee of such unit, whichever occurs 291 first, arefollowing the recording of the declarationarea 292 material alteration or substantial addition to the real property 293 that is association property, and the association may not 294 acquire or enter into such agreements except upon a vote of, or 295 written consent by, a majority of the total voting interests or 296 as authorized by the declaration as provided in s. 718.113. The 297 declaration may provide that the rental, membership fees, 298 operations, replacements, and other expenses are common expenses 299 and may impose covenants and restrictions concerning their use 300 and may contain other provisions not inconsistent with this 301 chapter. A condominium association may conduct bingo games as 302 provided in s. 849.0931. 303 Section 7. Subsections (1) and (4) of section 718.301, 304 Florida Statutes, are amended to read: 305 718.301 Transfer of association control; claims of defect 306 by association.— 307 (1) If unit owners other than the developer own 15 percent 308 or more of the units in a condominium that will be operated 309 ultimately by an association, the unit owners other than the 310 developer are entitled to elect at least one-third of the 311 members of the board of administration of the association. Unit 312 owners other than the developer are entitled to elect at least a 313 majority of the members of the board of administration of an 314 association, upon the first to occur of any of the following 315 events: 316 (a) Three years after 50 percent of the units that will be 317 operated ultimately by the association have been conveyed to 318 purchasers; 319 (b) Three months after 90 percent of the units that will be 320 operated ultimately by the association have been conveyed to 321 purchasers; 322 (c) When all the units that will be operated ultimately by 323 the association have been completed, some of them have been 324 conveyed to purchasers, and none of the others are being offered 325 for sale by the developer in the ordinary course of business; 326 (d) When some of the units have been conveyed to purchasers 327 and none of the others are being constructed or offered for sale 328 by the developer in the ordinary course of business; 329 (e) When the developer files a petition seeking protection 330 in bankruptcy; 331 (f) When a receiver for the developer is appointed by a 332 circuit court and is not discharged within 30 days after such 333 appointment, unless the court determines within 30 days after 334 appointment of the receiver that transfer of control would be 335 detrimental to the association or its members; or 336 (g) Seven years after the date of the recording of the 337 certificate of a surveyor and mapper pursuant to s. 338 718.104(4)(e) or the recording of an instrument that transfers 339 title to a unit in the condominium which is not accompanied by a 340 recorded assignment of developer rights in favor of the grantee 341 of such unit, whichever occurs first;recordation of the342declaration of condominium;or, in the case of an association 343 that may ultimately operate more than one condominium, 7 years 344 after the date of the recording of the certificate of a surveyor 345 and mapper pursuant to s. 718.104(4)(e) or the recording of an 346 instrument that transfers title to a unit which is not 347 accompanied by a recorded assignment of developer rights in 348 favor of the grantee of such unit, whichever occurs first, 349recordation of the declarationfor the first condominium it 350 operates; or, in the case of an association operating a phase 351 condominium created pursuant to s. 718.403, 7 years after the 352 date of the recording of the certificate of a surveyor and 353 mapper pursuant to s. 718.104(4)(e) or the recording of an 354 instrument that transfers title to a unit which is not 355 accompanied by a recorded assignment of developer rights in 356 favor of the grantee of such unit, whichever occurs first 357recordation of the declaration creating the initial phase,358whichever occurs first. The developer is entitled to elect at 359 least one member of the board of administration of an 360 association as long as the developer holds for sale in the 361 ordinary course of business at least 5 percent, in condominiums 362 with fewer than 500 units, and 2 percent, in condominiums with 363 more than 500 units, of the units in a condominium operated by 364 the association. After the developer relinquishes control of the 365 association, the developer may exercise the right to vote any 366 developer-owned units in the same manner as any other unit owner 367 except for purposes of reacquiring control of the association or 368 selecting the majority members of the board of administration. 369 (4) At the time that unit owners other than the developer 370 elect a majority of the members of the board of administration 371 of an association, the developer shall relinquish control of the 372 association, and the unit owners shall accept control. 373 Simultaneously, or for the purposes of paragraph (c) not more 374 than 90 days thereafter, the developer shall deliver to the 375 association, at the developer’s expense, all property of the 376 unit owners and of the association which is held or controlled 377 by the developer, including, but not limited to, the following 378 items, if applicable, as to each condominium operated by the 379 association: 380 (a)1. The original or a photocopy of the recorded 381 declaration of condominium and all amendments thereto. If a 382 photocopy is provided, it mustshallbe certified by affidavit 383 of the developer or an officer or agent of the developer as 384 being a complete copy of the actual recorded declaration. 385 2. A certified copy of the articles of incorporation of the 386 association or, if the association was created prior to the 387 effective date of this act and it is not incorporated, copies of 388 the documents creating the association. 389 3. A copy of the bylaws. 390 4. The minute books, including all minutes, and other books 391 and records of the association, if any. 392 5. Any house rules and regulations thatwhichhave been 393 promulgated. 394 (b) Resignations of officers and members of the board of 395 administration who are required to resign because the developer 396 is required to relinquish control of the association. 397 (c) The financial records, including financial statements 398 of the association, and source documents from the incorporation 399 of the association through the date of turnover. The records 400 mustshallbe audited for the period from the incorporation of 401 the association or from the period covered by the last audit, if 402 an audit has been performed for each fiscal year since 403 incorporation, by an independent certified public accountant. 404 All financial statements mustshallbe prepared in accordance 405 with generally accepted accounting principles and mustshallbe 406 audited in accordance with generally accepted auditing 407 standards, as prescribed by the Florida Board of Accountancy, 408 pursuant to chapter 473. The accountant performing the audit 409 shall examine to the extent necessary supporting documents and 410 records, including the cash disbursements and related paid 411 invoices to determine if expenditures were for association 412 purposes and the billings, cash receipts, and related records to 413 determine that the developer was charged and paid the proper 414 amounts of assessments. 415 (d) Association funds or control thereof. 416 (e) All tangible personal property that is property of the 417 association, which is represented by the developer to be part of 418 the common elements or which is ostensibly part of the common 419 elements, and an inventory of that property. 420 (f) A copy of the plans and specifications utilized in the 421 construction or remodeling of improvements and the supplying of 422 equipment to the condominium and in the construction and 423 installation of all mechanical components serving the 424 improvements and the site with a certificate in affidavit form 425 of the developer or the developer’s agent or an architect or 426 engineer authorized to practice in this state that such plans 427 and specifications represent, to the best of his or her 428 knowledge and belief, the actual plans and specifications 429 utilized in the construction and improvement of the condominium 430 property and for the construction and installation of the 431 mechanical components serving the improvements. If the 432 condominium property has been declared a condominium more than 3 433 years after the completion of construction or remodeling of the 434 improvements, the requirements of this paragraph do not apply. 435 (g) A list of the names and addresses, of which the436developer had knowledge at any time in the development of the437condominium,of all contractors, subcontractors, and suppliers 438 utilized in the construction or remodeling of the improvements 439 and in the landscaping of the condominium or association 440 property which the developer had knowledge of at any time in the 441 development of the condominium. 442 (h) Insurance policies. 443 (i) Copies of any certificates of occupancy thatwhichmay 444 have been issued for the condominium property. 445 (j) Any other permits applicable to the condominium 446 property which have been issued by governmental bodies and are 447 in force or were issued within 1 year prior to the date the unit 448 owners other than the developer tooktakecontrol of the 449 association. 450 (k) All written warranties of the contractor, 451 subcontractors, suppliers, and manufacturers, if any, that are 452 still effective. 453 (l) A roster of unit owners and their addresses and 454 telephone numbers, if known, as shown on the developer’s 455 records. 456 (m) Leases of the common elements and other leases to which 457 the association is a party. 458 (n) Employment contracts or service contracts in which the 459 association is one of the contracting parties or service 460 contracts in which the association or the unit owners have an 461 obligation or responsibility, directly or indirectly, to pay 462 some or all of the fee or charge of the person or persons 463 performing the service. 464 (o) All other contracts to which the association is a 465 party. 466 (p) A report included in the official records, under seal 467 of an architect or engineer authorized to practice in this 468 state, attesting to required maintenance, useful life, and 469 replacement costs of the following applicable common elements 470 comprising a turnover inspection report: 471 1. Roof. 472 2. Structure. 473 3. Fireproofing and fire protection systems. 474 4. Elevators. 475 5. Heating and cooling systems. 476 6. Plumbing. 477 7. Electrical systems. 478 8. Swimming pool or spa and equipment. 479 9. Seawalls. 480 10. Pavement and parking areas. 481 11. Drainage systems. 482 12. Painting. 483 13. Irrigation systems. 484 (q) A copy of the certificate of a surveyor and mapper 485 recorded pursuant to s. 718.104(4)(e) or the recorded instrument 486 that transfers title to a unit in the condominium which is not 487 accompanied by a recorded assignment of developer rights in 488 favor of the grantee of such unit, whichever occurs first. 489 Section 8. Subsection (1) of section 718.403, Florida 490 Statutes, is amended to read: 491 718.403 Phase condominiums.— 492 (1) Notwithstanding the provisions of s. 718.110, a 493 developer may develop a condominium in phases, if the original 494 declaration of condominium submitting the initial phase to 495 condominium ownership or an amendment to the declaration which 496 has been approved by all of the unit owners and unit mortgagees 497 provides for and describes in detail all anticipated phases; the 498 impact, if any, which the completion of subsequent phases would 499 have upon the initial phase; and the time period(which may not500exceed 7 years from the date of recording the declaration of501condominium)within which all phases must be added to the 502 condominium and comply with the requirements of this section and 503 at the end of which the right to add additional phases expires. 504 (a) All phases must be added to the condominium within 7 505 years after the date of the recording of the certificate of a 506 surveyor and mapper pursuant to s. 718.104(4)(e) or the 507 recording of an instrument that transfers title to a unit in the 508 condominium which is not accompanied by a recorded assignment of 509 developer rights in favor of the grantee of such unit, whichever 510 occurs first, unless the unit owners vote to approve an 511 amendment extending the 7-year period pursuant to subsection (b) 512 of this section. 513 (b) An amendment to extend the 7-year period shall require 514 the approval of the owners necessary to amend the declaration of 515 condominium pursuant to s. 718.110(1)(a). An extension of the 7 516 year period may be submitted for approval only during the last 3 517 years of the 7-year period. 518 (c) An amendment must describe the time period within which 519 all phases must be added to the condominium and such time period 520 may not exceed 10 years from the date of the recording of the 521 certificate of a surveyor and mapper pursuant to s. 522 718.104(4)(e) or the recording of an instrument that transfers 523 title to a unit in the condominium which is not accompanied by a 524 recorded assignment of developer rights in favor of the grantee 525 of such unit, whichever occurs first. 526 (d) An amendment that extends the 7-year period pursuant to 527 this section is not subject to the requirements of s. 528 718.110(4). 529 Section 9. This act shall take effect upon becoming a law.