The Montana Vista Studios

Key facts from The Montana Vista Studios's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Recital D)

Legal name

The Montafia Vista Studios Association (Recital E, Section 2.3)

Developer / declarant

MONTANA VISTA CAPITAL, L.L.C., an Arizona limited liability company (Opening paragraph)

Governing law

Arizona Condominium Act, A.R.S. §§ 33-1201 et seq. (Recital D, Section 2.1)

Assessments & dues

Not fixed; set annually by Board based on adopted budget (Section 10.3, 10.4)

Special assessments

Allowed. Special Assessment greater than 25% of total budget for that year requires majority vote of Owners and Declarant approval during Period of Declarant Control. (Section 10.5)

Collections & liens

Assessment Lien secures delinquent Assessments, interest, costs, attorneys' fees. Lien may be foreclosed in manner of realty mortgage. Personal obligation also exists. (Sections 10.1, 10.8(B)-(C))

Reserves & fees

Board may include reserve fund for maintenance, repairs, replacement of Common Elements and Association property in budget. (Section 10.2, 10.3(A)(v))

Leasing & rentals

Yes, subject to rules: leases must be in writing, subject to Association Documents, and Owner must notify Association of commencement and termination dates and lessees' names (Section 7.14)

Parking & vehicles

Parking areas are Common Elements; Association may assign spaces, reallocate, and impose fees; certain covered spaces may be designated for specific Buildings (Section 4.4(A))

Architectural approval

Structural additions/alterations/improvements require prior written Board approval; nonstructural visible from exterior also require Board approval; nonstructural interior not visible do not need approval (Section 7.3)

Signs & flags

No signs visible from exterior of Unit or Building without prior written approval of Declarant (during control) or Board thereafter, except: Declarant advertising signs, signs on Common Elements placed by Declarant during control, signs req (Section 7.10)

Maintenance

Association maintains Common Elements (including structural elements of Limited Common Elements); Owner maintains his Unit and certain Limited Common Elements (doors, windows, HVAC, etc.) (Sections 8.1, 8.2)

Insurance

Association must maintain property insurance on Common Elements (100% replacement cost), comprehensive general liability ($1M/$2M minimum), workers comp, directors & officers liability, flood if applicable (Section 11.1(A))

Use restrictions

No nuisance; no exterior sound devices except security or emergency devices (Section 7.12)

Voting & meetings

Each Owner has number of votes equal to net square feet of floor area of Unit (as set forth on Plat). (Section 4.7)

Amendments

During Period of Declarant Control, Declarant may amend to comply with law or correct errors without Owner vote under certain conditions; otherwise amendments presumably per Condominium Act (Section 5.1(C))

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