Mercado Fiesta Condominium

Key facts from Mercado Fiesta Condominium's documents

Community type

Condominium (Recital B: "two Units")

Units / lots

2 (Unit D1 and Unit D2) (Recital B)

Developer / declarant

BPC Larkspur Mercado, LLC, a Delaware limited liability company (Recital A)

Governing law

Arizona Revised Statutes Title 33, Chapter 9 (Arizona Condominium Act) (Recital C)

Assessments & dues

Set by Board each year; not specified in declaration. (Section 8.3, 8.8)

Special assessments

May be levied for capital improvements, approved by Declarant and Majority of Members. (Section 8.4)

Collections & liens

Assessment becomes a lien; Association may record Notice of Claim of Lien and foreclose in manner of realty mortgage. (Sections 8.2, 8.9)

Reserves & fees

Association may establish reserves for repair, maintenance, taxes, insurance, etc. (Section 8.3(b))

Pets

No animals, reptiles, fish (except aquarium inside Unit), or birds unless approved in writing by the Board. (Section 6.4)

Leasing & rentals

Leasing allowed; must be in writing, subject to Declaration, copy delivered to Board before term; lease must contain clause binding tenant to Declaration. (Section 6.19)

Parking & vehicles

Parking Spaces are Common Elements; assigned covered/reserved spaces per Exhibit C (future insertion); uncovered spaces on first-come, first-serve basis; overnight parking not permitted. (Sections 4.1, 4.2, 4.3, 6.11)

Architectural approval

Architectural Control Committee (or Board) approval required for any structure, exterior addition, change, or alteration visible from any part of the Property. (Section 6.24)

Home business

Property may be used for mixed-use general commercial uses including retail, legal, financial, medical, etc.; certain uses specifically prohibited (discotheque, adult store, pawn shop, etc.). (Section 6.8)

Signs & flags

No exterior signs or interior signs visible from outside without prior Board approval. (Section 6.10)

Maintenance

Association maintains Common Elements; Owners maintain their Units (excluding common elements). Owners responsible for their HVAC equipment located in Common Elements. (Sections 7.1(a), 5.4(d))

Use restrictions

No portion may be utilized for housing purposes; allowed uses: healthcare, professional offices (medical, dental, chiropractic, podiatric, optometric, and related ancillary uses). (Section 6.1)

Voting & meetings

Class A (owners except Declarant): votes equal to square footage of Unit; Class B (Declarant): votes equal to 10 times square footage of Units owned. Class B ceases when Class A votes exceed Class B or 4 years after Declarant ceases offerin (Section 7.3)

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