Paradise Parkway

What Paradise Parkway's governing documents say

This is a Declaration of Horizontal Property (condominium) for UNIVERSITY EAST, a commercial condominium of 19 office units in 9 office buildings located in Mesa, Arizona. If you are buying or own an office unit here, you will own the interior space of your unit and share ownership of the common areas and facilities (such as roofs, walls, and utility lines) with other unit owners, managed by the University East Association.

• What you own & maintain: You own the interior decorated surfaces of your office space (walls, floors, ceilings) and any interior partitions, but not the perimeter walls, structural elements, or pipes and wires serving multiple units, which are common area. Common areas (roof, main walls, drives, utilities) are owned as tenants in common with other owners and maintained by the association.
• Assessments & voting: Each unit is assessed a share of common expenses based on its square footage (see Exhibit B). Assessments are set by the association and due monthly; unpaid assessments become a lien on the unit. Voting in the association is also proportional to the same percentage interest specified in Exhibit B.
• Insurance: The association must carry blanket property insurance (fire, extended coverage, liability) covering the common areas. Premiums are a common expense paid by monthly assessments. Unit owners may also obtain individual insurance.
• Party walls: Walls built on the dividing line between units are party walls. If damaged by one owner, that owner must repair at their own cost. If damaged by other causes, both adjoining owners share the cost equally. Alterations to a party wall require written consent of the adjoining owner; disputes go to arbitration.
• Lien & foreclosure: Unpaid assessments constitute a lien on the unit, prior except for tax and first mortgage liens. The association may foreclose in court like a mortgage, and a receiver may be appointed to collect rent.
• Amendment & revocation: This declaration cannot be amended or revoked unless all unit owners and all mortgagees of recorded mortgages unanimously agree.
• No partition of common areas: No owner may bring an action to partition the common areas; they must remain undivided.
• What this document doesn't cover: This document is a commercial condominium declaration; it does not address residential use, age restrictions, pet rules, leasing restrictions, or parking. Those topics may be covered in separate rules or covenants not included here.

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.