Fountain Commercial Owners Association

What Fountain Commercial Owners Association's governing documents say

This is the governing document for Fountain Commercial Owners Association, a commercial (non-residential, non-condominium) property owners association in Fountain Hills, AZ. It applies to owners of commercial units (e.g., office, retail) within the development. The document establishes the association, its powers, and the rights and obligations of unit owners.

• Association type & membership: The association is a nonprofit corporation that manages common areas and enforces rules. Every unit owner is a member with one membership per unit. There are two voting classes: Class A (all owners) and Class B (the developer/Declarant, with special control rights that eventually terminate).
• Assessments & fees: The association levies Base Assessments (for common expenses shared by all units), Parcel Assessments (for expenses benefiting specific groups of units), Special Assessments, and Specific Assessments (e.g., for owner-caused damage). The assessment formula is detailed in Exhibit C. Delinquent assessments can lead to liens and suspension of services.
• Use of property: Use is subject to the Declaration, By-Laws, and rules adopted by the board. The initial Use Restrictions and Rules are in Exhibit D. Owners may lease their units, but leases over one year allow the lessee to become the 'Owner' for membership purposes if a copy is filed with the board. No short-term or vacation rentals are explicitly mentioned.
• Architectural review: An Architectural Review Committee (ARC) enforces Design Guidelines (Article IX). All exterior alterations, improvements, or construction require prior ARC approval. The Declarant initially adopts the guidelines; later, the board and ARC administer them. Variances are possible.
• Maintenance responsibilities: The association maintains common areas (landscaping, streets, lakes, signage, etc.) to a 'Community-Wide Standard.' Owners maintain their own units and adjacent rights-of-way. The association may perform maintenance if the owner fails and charge the cost as a specific assessment.
• Insurance & risk: The association carries property and liability insurance for common areas and officers’/directors’ liability. Owners are responsible for their own unit insurance. The association is not an insurer for safety or security, and disclaims liability for third-party acts.
• Dispute resolution: The document includes mandatory dispute resolution procedures (Article XIII) requiring non-binding arbitration before litigation, with cost allocation rules. The prevailing party in any enforcement action is entitled to recover attorneys' fees and costs.

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.