The Lost Arrow Estates

What The Lost Arrow Estates's governing documents say

The Lost Arrow Estates is a small condominium project in Fountain Hills, AZ, with two units (Unit A and Unit B). You own your unit and share common elements with the other unit owner. The association maintains the common elements and carries master insurance, funded by unit assessments.

• What you own & maintain: Each unit includes the interior space defined by exterior surfaces, slab, and roof. Unit A also owns the adjacent yard, pool, and pool area; Unit B owns its yard. Limited common elements (patios, driveways, exterior doors/windows) are for your exclusive use. The association maintains common elements like shared entryways, driveways, and steps.
• Common expenses & assessments: Annual assessments are set by the board to cover operating costs, insurance, maintenance, and reserves. Special assessments require unanimous member consent for capital improvements. Unpaid assessments become a personal obligation and a lien on the unit, foreclosable like a mortgage but subordinate to first mortgages and tax liens.
• Use restrictions & rules: Trash must be in sanitary containers; no storage of furniture in the common center area except limited patio furniture (2 lounge chairs or table+4 chairs) with a 3-foot walkway kept clear. No exterior fires except in approved barbecue receptacles on back patios. Parking allowed in designated common areas at night. Only Unit A may fence the pool area; no fences down the middle of properties.
• Damage & reconstruction: If common elements are damaged, the board uses insurance proceeds to rebuild; any shortfall may be levied as a special assessment. Unit owners must rebuild their damaged units substantially in their original appearance or clear the lot. Changes to original specs require prior written board approval.
• Governance & meetings: The association has a two-member board elected annually by unit owners (one vote per unit). Regular meetings are held annually; special meetings as needed. The board can adopt rules, hire managers, impose fines for violations, and enforce covenants. Amendments to the declaration require a unanimous board vote and approval by the City of Fountain Hills.
• What this document doesn't cover: This document does not specify pet restrictions, leasing terms, age restrictions, or architectural review procedures. It is a declaration of condominium and bylaws; additional rules may exist separately.

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.