Chandler Airport Tower Hangar Leasehold Condominium

What Chandler Airport Tower Hangar Leasehold Condominium's governing documents say

This is a leasehold condominium at Chandler Airport Tower Hangar in Chandler, AZ — you own a hangar unit (leasehold interest) and share the common elements, but the land is leased from the City of Chandler. The rules bind unit owners, who must use their units primarily for non-commercial aircraft storage and aviation purposes; residential use is strictly forbidden.

• Use restrictions: Units may be used only for non-commercial aviation purposes, primarily aircraft storage. Residential use is strictly forbidden. All activity must comply with the Ground Lease and city regulations.
• Leasing & rentals: Unit owners may lease or rent their unit on a month-to-month or longer term, but the lease must be in writing, subject to the Declaration, Bylaws, and Ground Lease, and requires prior approval from the City of Chandler. Owners must notify the Association and city within 5 business days of any lease.
• Ground lease & ownership: The land is leased from the City of Chandler under a Ground Lease with an initial 30-year term (expires Nov 19, 2043) plus one optional 20-year renewal (to 2063). Upon termination or expiration, all improvements revert to the city; unit owners have no right to purchase the land or remove improvements.
• Assessments & common expenses: Regular and special assessments are levied per unit based on square footage. Unpaid assessments bear interest and become a lien on the unit. After two delinquencies, the Board may require a security deposit up to three months' assessments.
• Insurance & maintenance: The Association maintains master property and liability insurance covering the common elements and building. Unit owners are responsible for interior maintenance and must insure their own contents and improvements. Owners must notify the Board of improvements over $1,000.
• Board & voting: The Association is governed by a Board; Declarant controls appointments until 75% of units are sold (or 2 years after last sale). Each unit has voting power proportional to its allocated interest. Bylaws require 60% vote to amend.
• What this document doesn't cover: This excerpt does not specify pet rules, age restrictions, parking fees, or architectural review procedures. Those may appear in the full Declaration, Bylaws, or separate Association rules.

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.