Riviera Horizontal Property Regime

Key facts from Riviera Horizontal Property Regime's documents

Reflects the 2013 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

horizontal property regime (condominium) (Recitals, Page 1)

Legal name

Riviera Horizontal Property Regime

Developer / declarant

Riviera Partners, LLC (Grantor) (Page 1)

Governing law

Act 60 of the First Extraordinary Session of the 1961 General Assembly of the State of Arkansas, as amended, codified at Ark. Code Ann. Section 18-13-101, et seq (Exhibit E, Page 52)

Assessments & dues

Board fixes assessments based on basic values of Units (Bylaws Section 7(h), Page 57)

Reserves & fees

Yes, assessments for reserves included in expenses (Section 5, Page 10 (item vi))

Leasing & rentals

Yes, implied by assignable parking licenses to tenants; lease of Unit not restricted (Section 3(b), Page 6)

Parking & vehicles

Residential Unit Owners: Parking Facility (limited common) and Surface Parking (general common); no assigned spaces in Surface; Heartland may reserve 20 spaces along Old Cantrell Rd/Magnolia St for retail; revocable licenses, assignable to (Section 3(b) and Section 9, Pages 5-6 an)

Home business

Quiet office use allowed with traffic level restriction; not more than 30% of 80 units may have primary office use (Section 2, Page 3 and Section 6(e) Nuisa)

Signs & flags

Restricted; no signs on Common Elements without Board approval; exceptions for sale/rent signs, legal signs; retail units allowed specific signs (lettering ≤4" high, overall ≤15" on door; larger signs with Board approval). Approval response (Section 6(e) Signs, Page 12-13)

Use restrictions

Retail Units: retail/commercial/office only; Residential Units: primarily residential, quiet office allowed but not over 30% of floors 2-11 (Section 2, Page 3)

Voting & meetings

Each Member votes proportionally to percentage of basic value of their Unit (Bylaws Section 4, Page 59-60)

Amendments

Requires signatures of all Unit Owners and Lenders (per Section 11 of Initial Master Deed) (Section 5, Page 17)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.