Camelback Mountain Homeowners Association

What Camelback Mountain Homeowners Association's governing documents say

This document is an amendment to the Declaration of Covenants, Conditions and Restrictions for The Village at Camelback Mountain, a standard single-family homeowners association (HOA) in Paradise Valley, AZ. It adds a one-time Capital Accumulation Fee of $1,500 payable by new owners upon voluntary sale or transfer of a lot. This is a partial document; the full Declaration is not provided.

• Capital Accumulation Fee: New owners must pay a one-time fee of $1,500 to the Association within 30 days of recording the deed or sale agreement. The fee is nonrefundable and is used to fund the Association's reserve account (up to 80% funded) or other expenses as determined by the Board. Late payments incur charges and remedies.
• Exceptions and Increases: No fee is owed if an owner sells their lot and buys another in the same Association within six months. The Board may increase the fee by up to 20% annually without owner approval; any larger increase requires a majority vote of owners.
• Purpose of Fee: Proceeds initially fund the reserve account until it reaches 80% funding, after which the Board may apply the fee to current expenses or other purposes.
• What this document doesn't cover: This amendment adds only the capital accumulation fee. It does not address other typical rules such as architectural review, pet restrictions, leasing terms, parking, or annual assessments. Those are in the original Declaration, which is 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.