Superstition Promenade

Key facts from Superstition Promenade's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Commercial/Retail (Recitals C)

Developer / declarant

Superstition Promenade, LLC (First paragraph of Declaration)

Governing law

Arizona Revised Statutes §33-741 et seq. referenced for contracts, §33-1806 for statements of assessments (Section 1.22 and Section 8.8)

Assessments & dues

Not fixed; set annually by Manager based on proposed budget covering Common Expenses; each Lot pays proportionate share based on square footage (Sections 8.2.1, 8.3)

Special assessments

Allowed for capital improvements, major repairs, etc.; cannot be levied more than once every 3 Assessment Periods, and capital expenditures must be approved by Super-Majority (Section 8.4)

Collections & liens

Manager has right to impose Assessment Lien and foreclose in manner of realty mortgage; lien priority subordinate to first mortgages, taxes, and prior recorded liens (Sections 8.7, 8.7.2, 8.7.3, 8.7.5)

Reserves & fees

No reserve fund for capital improvements; Annual Assessment does not include reserves (Section 8.2.1: "The amount of the Annual)

Parking & vehicles

Each Lot must maintain sufficient parking to accommodate employees, customers, visitors, and company vehicles; parking prohibited on all public and private streets within Property; Lot 4 has 20 reserved parking spaces as Limited Common Area (Sections 5.3.4, 2.4)

Signs & flags

Each Owner has right to maintain a flagpole and flag on the Lot (Section 5.3.3)

Use restrictions

Each Lot may be used only for lawful purposes; specifically prohibited uses: adult bookstore/theater, pawn shop, flea market, massage parlor (except certain ), junk yard, auto sales/lease/storage, cemetery/mortuary, head shop, game arcade ( (Sections 5.1, 5.3.1)

Voting & meetings

Decisions by Super-Majority (80% of square footage) for certain matters; Manager has broad authority without owner vote (Sections 1.33, 14.3 (amendment by Super-)

Amendments

Requires written consent of Super-Majority of Owners of all Lots, recorded instrument signed by Manager and one other Owner (Section 14.3)

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