Full Circle Condominiums

Key facts from Full Circle Condominiums's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Title and Recitals)

Units / lots

2 (Units A and B) (Section 2.0: "Identifying Numbers of the)

Governing law

A.R.S. §§ 33-1211 et seq. (Recitals paragraph B)

Assessments & dues

Board adopts annual budget which serves as basis for determining annual assessments. Special assessments require approval of more than 50% of votes of units represented at a meeting. (Section 4.4 (budget); Section 4.6 (speci)

Special assessments

Special assessments require approval of more than 50% of votes of Units represented at a meeting. Allocated equally among units. (Section 4.6)

Collections & liens

Association has lien against each unit securing assessments, charges, fines, penalties. Lien superior except to first mortgage. May be foreclosed like mortgage. (Section 4.3)

Reserves & fees

Annual budget shall provide for reserve for contingencies and reserve for replacements. Surplus monies held in reserve accounts and not credited to owners. (Section 4.4 (budget reserves); Section 4)

Leasing & rentals

Yes, but unit must be leased in its entirety (no partial lease); minimum lease term 14 consecutive days; not for hotel/transient use. Leases must be in writing and subject to condominium documents; must notify all other owners of lease date (Section 3.10)

Parking & vehicles

Routine overnight parking of transportation vehicles used daily is permitted. No boats, RVs, trailers, or vehicles not in daily use stored in driveway >48 hours in 30-day period. Garage doors must be closed when not in use. No garage may be (Section 3.8; Section 3.9; Section 3.10 ()

Architectural approval

Yes, for painting or changing exterior color scheme or surfacing materials of patio/balcony or any portion of Limited Common Elements visible from Common Elements or other units, prior written consent of Board required. (Section 5.1(B) last sentence)

Signs & flags

Not explicitly addressed in extracted portions; possibly covered by general restrictions or rules. (No provision found in document)

Maintenance

Each unit owner shall maintain, repair, replace and restore all portions of roof above their respective unit. (Section 5.1(D))

Insurance

Deductibles are common expenses paid by Association (Section 7.2). (Section 7.2)

Use restrictions

Not explicitly stated, but leasing restrictions (minimum 14 days) and prohibition of hotel/transient use imply residential use. (Section 3.10)

Voting & meetings

Each unit has one vote; votes allocated equally among units. Voting rights may be suspended for violation of condominium documents. (Section 2.4; Section 2.4 also references)

Amendments

Declaration may be amended by instrument in writing signed and acknowledged by unanimous vote of the Board of Directors certifying adoption. (Section 10.5)

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