Mirage Condominiums IV

Key facts from Mirage Condominiums IV's documents

Reflects the 1993 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 2, Submission of Property)

Legal name

Mirage Condominiums IV Home Owners Association, Inc. (Section 1.1(H): "organized under the nam)

Developer / declarant

Scott Properties, Inc., an Arizona corporation (Preamble)

Governing law

Arizona Condominium Act, A.R.S. § 33-1201 et seq. (Section 1.1(Q))

Assessments & dues

Maximum $10 per Unit until January 1 of year following first conveyance; thereafter may increase by CPI, or greater with 2/3 vote. (Section 7.1(B))

Special assessments

May be levied for capital improvements or other lawful purpose, but requires approval of 2/3 of votes present and voting. (Section 7.2)

Collections & liens

All Assessments are secured by an Assessment Lien; recording of Declaration gives notice; Association may foreclose like a realty mortgage. Lien is subordinate to first mortgages. (Section 7.5(B), (C); 7.6)

Reserves & fees

$10.00 per delinquency. (Section 7.5(A))

Architectural approval

Architectural Committee approval required for any structural addition, alteration, or improvement within a Unit, and for any addition/alteration/improvement within a Unit that would be visible from the exterior of the building (need also ap (Section 4.3)

Home business

No gainful occupation, profession, trade or other nonresidential use; Unit Owner may maintain personal professional library, keep personal business records, handle personal business calls or correspondence from the Unit. (Section 4)

Signs & flags

Declarant may maintain advertising signs on Common Elements during sales period. No other sign restrictions specified; Architectural Committee may govern. (Section 3.3(A); Section 6.3 (Architectur)

Maintenance

Association: maintains Common Elements. Unit Owner: maintains Unit and Limited Common Elements allocated to his Unit. Owner liable for damage caused by negligence or willful conduct. (Section 5, 5.1, 5.2)

Insurance

Association may elect to maintain insurance coverage to protect Association and Unit Owners to extent deemed reasonably necessary. (Section 8 (last sentence))

Use restrictions

All Units and Limited Common Elements shall be used exclusively for residential use by a Single Family. (Section 4 (first line))

Voting & meetings

Each Unit has one vote in the Association. (Section 2.3)

Amendments

Declaration may be amended by vote of Unit Owners holding at least 67% of votes. Certain changes (increase Special Declarant Rights, increase number of Units, change Unit boundaries, allocated interests, or use restrictions) require unanimo (Section 10.4)

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