Regency Falls Professional Park

What Regency Falls Professional Park's governing documents say

This is a condominium declaration for Regency Falls Professional Park, a commercial/professional office condominium in Pinal County, Arizona. It governs the ownership structure, unit boundaries, common elements, and association operations. The document is an excerpt covering definitions, property submission, easements, and development rights; many detailed use restrictions and rules are not included in this partial text.

• What you own & maintain: You own your unit's interior (finished surfaces, fixtures serving only your unit). The association maintains common elements (structural walls, roofs, common areas) and limited common elements (e.g., parking spaces, utility rooms) allocated to your unit. The boundaries are defined by interior unfinished surfaces of perimeter walls and party walls.
• Assessments & fees: Common expense assessments are levied per unit based on percentage interest (square footage). There are also special assessments, enforcement assessments, and a transfer fee. The association may impose liens for nonpayment.
• Use restrictions: The declaration includes a use and occupancy restrictions article (Article 4) covering nuisances, improvements, motor vehicles, trash, signs, and rentals, but the full text is not included in this excerpt. Rules must be followed.
• Parking & vehicles: Parking spaces are limited common elements allocated to specific units, as shown in Exhibit C. There are restrictions on trucks, trailers, campers, boats, and towing (mentioned in table of contents).
• Leasing & rentals: Rental of units is addressed in Article 4.15, but specific terms (e.g., minimum lease duration) are not provided in this excerpt.
• Development rights: The Declarant (developer) retains extensive rights, including adding units, creating easements, subdividing units, and using common elements for marketing and construction until the condominium is substantially sold.
• Insurance: The association carries master insurance (fire, casualty, liability); unit owners may obtain their own coverage. Insurance proceeds are distributed per the declaration.
• Dispute resolution: Disputes between the association and owners are subject to mediation and binding arbitration before litigation (Article 11).

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.