Apex Motor Club Private Garage Condominiums

What Apex Motor Club Private Garage Condominiums's governing documents say

Apex Motor Club Private Garage Condominiums is a condominium community in Arizona designed for automobile enthusiasts — you own a private garage unit (not a dwelling) and share common elements. The condominium adjoins a separate racetrack and commercial development. Each unit owner must purchase and maintain a separate Apex Motor Club racetrack membership. The rules bind unit owners.

• Permitted use of units: Units may be used only as private garages and storage for non-commercial purposes. Sleeping accommodations and residential uses are prohibited. The property is not zoned residential.
• Leasing & rentals: Renting or leasing a unit is absolutely prohibited — no rentals or leases of any kind or duration are allowed.
• Racetrack membership required: Every unit owner must purchase and maintain a separate racetrack membership in the Apex Motor Club, including initiation fees and dues. A material violation of club rules or the membership agreement may result in loss of membership and give the association the option to repurchase the unit.
• Parking & vehicles: No commercial vehicles, campers, boats, RVs, or trailers may be parked on the condominium except inside units. Parking is limited to designated areas; each unit is allocated two parking spaces. The board may tow vehicles in violation at the owner's expense.
• Architectural review & improvements: Non-structural interior changes do not require board approval, but structural additions, exterior alterations, or installation of automotive equipment (lifts, hoists) require prior written approval from the board (and Declarant during declarant control). Plans must be submitted; decisions occur within 60 days.
• Assessments & liens: Common expense assessments are levied per unit based on floor area. Special assessments require approval of two-thirds of unit votes. Delinquent assessments bear interest and are secured by a statutory lien that may be foreclosed. A transfer fee of 1% of fair market value is due from the new owner upon sale.
• Ownership & transfer restrictions: No unit owner may own more than 10% of the total units in the project. Transfers are subject to a 1% transfer fee. The association has a repurchase option if a unit owner loses racetrack membership due to rule violations.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.