Monterra Ranch Condominiums

Key facts from Monterra Ranch Condominiums's documents

Reflects the 1997 governing documents — figures and rules are as originally recorded and may have changed since.

Developer / declarant

Monterra Ranch, L.L.C., an Arizona limited liability company (Recitals)

Governing law

Arizona Revised Statutes (A.R.S.) § 33-1212 referenced for unit boundaries (Article X, Section 2)

Assessments & dues

Until January 1 after first Unit conveyance, maximum Annual Assessment is $1,065.00 per Unit. (Article VII, Section 4(a))

Special assessments

Special Assessments require approval of not less than 67% of votes of each class present at a duly called meeting. Allocated equally among all Units. (Article VII, Section 6)

Collections & liens

A lien against each Unit secures payment of all Assessments. Lien is prior to all other liens except taxes and First Mortgage. May be foreclosed as a mortgage. (Article VII, Section 2)

Reserves & fees

Annual budget includes reserves for contingencies and replacements. Surplus monies held in reserve accounts. (Article VII, Section 4(a) and Section 7)

Pets

Reasonable number of generally recognized house pets (no more than two presumed reasonable). (Article IX, Section 2)

Leasing & rentals

Unit may be leased to a Single Family tenant, subject to Declaration. (Article IX, Section 28)

Parking & vehicles

Vehicles of Owners kept in garages or Assigned Parking Spaces. Undesignated spaces for temporary guest parking. No street parking. (Article IX, Section 7)

Architectural approval

Prior written approval required for any improvements, alterations, repairs, landscaping or other work that alters exterior appearance of any Unit or Common Area. (Article VIII, Section 3(a))

Solar & roof

Solar panels are subject to architectural review (included in list of items under Committee jurisdiction). (Article VIII, Section 2)

Home business

Allowed if minimal portion of Unit used, no business meetings or shipping, no excessive deliveries, and not violate zoning. (Article IX, Section 1 (exception))

Signs & flags

No signs except as required by legal proceedings and one 'for sale' or 'for lease' sign not larger than 16x24 inches, of reasonable appearance. (Article IX, Section 5)

Use restrictions

No gainful occupation, profession, trade or other non-residential use shall be conducted in any Unit. (Article IX, Section 1)

Voting & meetings

Each Owner (other than Declarant) has one vote per Unit. Declarant as Class B member has votes equal to three times the votes attributable to its Units. Class B converts to Class A upon conditions. (Article III, Sections 1 and 3)

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