Palm Valley 303 West

What Palm Valley 303 West's governing documents say

Palm Valley 303 West is a master-planned industrial and commercial business park in Goodyear, AZ. This governing document establishes an owners' association that maintains common areas, enforces design standards, and collects assessments from owners of individual parcels. The property is intended for industrial and commercial use only.

• Design review & approval: All improvements (buildings, landscaping, signs, parking areas, etc.) must be approved in writing by the Design Review Committee through a formal plan review process. Approved Plans must comply with the Design Guidelines and the City's requirements.
• Assessments & fees: Owners pay Regular Assessments (for common area operation and maintenance), Special Assessments (for extraordinary expenses), and Reimbursement Assessments (for certain costs benefiting specific parcels). Assessments are levied per parcel and become a lien if unpaid, with late fees and interest at the Prime Rate.
• Maintenance responsibilities: Owners must maintain their own buildings, landscaping (including Landscape Corridors), parking areas, delivery facilities, trash receptacles, signs, utilities, and other improvements on their parcel. The Association maintains common areas, tracts, and common facilities such as project signs, drainage easements, and landscaping within common areas.
• Parking & vehicle areas: Parking Areas on each parcel (driveways, spaces, circulation lanes, etc.) are for the use of that owner and its tenants. Owners must maintain them. The Association has no obligation to provide parking or maintain parking on private parcels.
• Permitted uses & restrictions: Uses are limited to those permitted by the City and approved by Declarant or the Board. The property is designated for industrial and commercial purposes. Further subdivision is restricted without approval. The document includes disclaimers about proximity to Luke Air Force Base, airports, highways, and a racetrack.
• Leasing & tenants: Owners may lease their buildings to tenants for office, industrial, or business purposes. Tenants must comply with the Declaration and Association Rules. Owners are responsible for their tenants' compliance and may be held liable for violations.
• Voting & membership: Each owner receives one membership per 1,000 square feet of gross land area in their parcel. There are two voting classes: Class A (all owners except Declarant) with one vote per membership, and Class B (Declarant only) with three votes per membership until conversion. Voting rights may be suspended for nonpayment or other defaults.
• Insurance: The Association is required to carry property and liability insurance on common areas and facilities. Owners must maintain insurance on their own improvements and may be required to pay deductibles or deficiencies. The Association may also purchase directors and officers insurance.

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.