Canyon Trails Plaza

What Canyon Trails Plaza's governing documents say

This is a supplemental declaration for Canyon Trails Plaza, a shopping center in Goodyear, AZ, that adds use restrictions and exclusive rights for a specific commercial parcel. It binds the owners of that parcel (currently a Panda Express operator) and the developer, and is not a residential homeowners' association document.

• Use restrictions: The CFT Parcel must initially be used as a Panda Express restaurant selling Asian food, with incidental sushi sales capped at 15% of gross sales. Any change of use requires Developer's consent, which may be withheld for reasons like violating exclusives, duplicating a primary use of another tenant, or being an office, medical, financial, or auto repair use.
• Building & design constraints: Only a single building up to 3,000 square feet and 24 feet (exclusive of architectural treatments) or 27 feet (inclusive) is allowed. Developer must approve site plans, grading, drainage, and renderings at least 30 days before construction, with a 14-day review period and a deemed approval if no response after a second notice.
• Exclusive use rights for CFT: Developer cannot sell or lease other property in the shopping center (except the CFT Parcel and a designated McDonald's parcel) to a fast-food restaurant with primary Asian food business, a Chinese food restaurant, a fast-food restaurant that primarily prepares food in a wok, or an Asian food buffet, as long as CFT operates as specified. These exclusives terminate if CFT ceases Asian food operations for 6+ months.
• Repurchase rights (Developer): Developer can repurchase the CFT Parcel if construction isn't started within 365 days or completed within 365 days of commencement, or if business operations cease for 365 days. Certain cure periods and force majeure apply. Repurchase price is either the original price plus site work reimbursement (if triggered by construction failure) or fair market value determined by appraisal.
• Enforcement & remedies: Violations can be remedied by specific performance or damages. Default is curable within 15 days (or longer if reasonable). Prevailing party in a lawsuit recovers attorneys' fees. Developer must use commercially reasonable efforts to enforce CFT's exclusives against third parties.
• What this document doesn't cover: This is a supplemental declaration to a larger Common Operation and Reciprocal Easement Agreement. It does not contain rules for residential living, pet policies, leasing to tenants (other than commercial use restrictions), or typical HOA assessments. It only applies to a specific commercial parcel within the shopping center.

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.