Palm Place Plaza

Key facts from Palm Place Plaza's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 2.01)

Legal name

Palm Place Plaza, a Condominium

Units / lots

Not explicitly stated; multiple Units mentioned, Exhibit C lists allocations but not count (Recital D; Exhibit C reference)

Developer / declarant

145 Ave. & McDowell, Inc., an Arizona corporation (Section 1.17)

Governing law

Arizona Condominium Act, A.R.S. §33-1201 et seq. (Recital C)

Assessments & dues

Based on advance estimates of Association's cash requirements (Section 9.01)

Special assessments

May be levied upon affirmative vote of at least 60% of Total Votes; also without vote if Common Expense Fund inadequate (Sections 9.03, 9.1.5)

Collections & liens

All assessments, costs, fines, penalties secured by lien on Unit in favor of Association; may be foreclosed like mortgage; Board may bid at sale (Section 9.05)

Reserves & fees

Board shall establish Reserve Fund for capital replacement and major maintenance; contributions are capital contributions; must be funded within 3 years after declarant control period (Sections 8.01, 9.1.2)

Leasing & rentals

Unit may be rented; Owner must notify Association and provide lessee with copies of Declaration and Rules (Section 6.7.20)

Parking & vehicles

Adequate parking must be provided on site; no on-street parking in ordinary use; parking areas must be paved; parking shelter structures permitted with approval (Sections 6.2.5.4)

Fences

All walls must be located within building envelope; material and finish consistent with adjacent buildings unless otherwise approved (Sections 6.2.5.5)

Architectural approval

Board acts as Architectural Control Committee; all exterior changes, signs, structures require prior written approval (Section 6.01)

Signs & flags

All signs must be approved by Declarant and/or Board; must be professionally prepared; window signs, exterior wall signs, monument sign panels assigned to Units per Exhibit E (Unit F4 and Unit E2 assigned panels as per Third Amendment) (Sections 6.2.5.9, 5.06; Third Amendment )

Maintenance

Association responsible for repair and replacement of roofs (Section 8.01)

Insurance

Property insurance for full replacement cost of all Common Elements; comprehensive general liability ($1M per occurrence, $2M umbrella); workers compensation; directors and officers liability ($1M); other as determined (Sections 10.1.1-10.1.5)

Use restrictions

No residential use permitted; Units for professional suites/offices; Building D Units D1 and D2 may be showrooms with limited retail (Sections 6.03, 6.09)

Voting & meetings

Total votes 100, allocated among Units in proportion to Allocated Interest; each Unit has one membership and associated votes; voting suspended if Owner delinquent (Section 7.03)

Amendments

During declarant control, Declarant may amend without vote (Section 7.03, A.R.S. §33-1243(E)); after control, unanimous written consent of all Owners required (Section 7.03); also, Board may amend for minor corrections or as required by law (Sections 7.03, 8.07)

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