Lakeshore at Andersen Springs Condominium

Key facts from Lakeshore at Andersen Springs Condominium's documents

Community type

Condominium (Title and throughout)

Legal name

Lakeshore at Andersen Springs Homeowners Association, Inc. (Section 1.06)

Developer / declarant

Lakeshore Fee Owner LLC, a Delaware limited liability company (Preamble and Section 1.16)

Governing law

Arizona Condominium Act, A.R.S. §§ 33-1201 through 33-1270 (Article I, Section 1.01)

Assessments & dues

Determined by Board of Directors; initial assessment set by Board. (Section 4.03)

Special assessments

May be levied for capital improvements or extraordinary expenses, approved by 75% of votes cast at meeting. No approval needed for assessments arising from Owner noncompliance. (Section 4.04)

Collections & liens

Assessments constitute a consensual and continuing lien on the Unit. Association may foreclose lien in same manner as mortgage. Lien superior except subordinated to First Mortgagee for assessments accruing after foreclosure sale. Personal o (Section 4.01, 4.07, 4.08)

Reserves & fees

Required. Reserve Contribution from each new Owner (except initial from Declarant) of two monthly installments. Reserve study required prior to first Unit sale and at least every 3 years. Reserve funds held in trust, segregated, used only f (Section 4.11)

Pets

Pets allowed subject to Association rules and limits on number/type for Common Element use. (Section 2.05(a))

Leasing & rentals

Leasing regulated (Section 8.13 in table of contents, not text provided) (Table of Contents – Section 8.13)

Parking & vehicles

Each Unit entitled to one covered Unit Parking Space (Limited Common Element). Additional Designated Spaces may be purchased. Open Parking Spaces available first-come, first-served. Parking spaces cannot be used for storage. Leasing of spac (Section 2.07)

Architectural approval

Architectural Approval required (Section 7.01). (Table of Contents – Section 7.01)

Home business

Business uses restricted; Permitted Commercial Use allowed only for Clubhouse as per Municipal Stipulations. (Section 1.30, 2.04, 8.02)

Signs & flags

Signs are restricted (Article VIII, Section 8.03); no details in excerpt (Section 8.03)

Maintenance

Association responsible for Common Elements (including exterior and structural elements of Buildings and Improvements). Owner responsible for Unit and certain Limited Common Elements (defined in Section 1.23). (Section 5.01, 5.03, 1.23)

Use restrictions

Single Family Residential Use (Section 1.37)

Voting & meetings

Two classes: Class A (all Owners except Declarant) – one vote per Unit; Class B (Declarant) – three votes per Unit owned until conversion to Class A. Joint owners considered one Member. (Section 3.02)

Amendments

Amendment procedure established in Section 14.04. (Table of Contents – Section 14.04)

Amenities

Clubhouse, pool, spa, gazebo, barbeques, and other recreational amenities are part of Common Elements. (Section 1.21)

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