Biltmore Financial Center Association

Key facts from Biltmore Financial Center Association's documents

Community type

office and commercial complex as of 1987 (Recital A of original declaration: "Plan)

Legal name

The Biltmore Financial Center Association, an Arizona nonprofit corporation as of 1993 (Opening paragraph)

Developer / declarant

Biltmore Financial Center Associates, a joint venture formed under the Arizona Uniform Partnership Act as of 1987 (First paragraph of Declaration)

Governing law

Arizona Uniform Partnership Act (joint venture) and Arizona Revised Statutes Section 33-801 et seq. (trustee) as of 1987 (Declarant definition and Section 1.35)

Assessments & dues

Annual Assessment and Special Assessments; Allocable Share determined by multiplying Assessments by a fraction: numerator is Floor Area of buildings on the Member's Parcel, denominator is total Floor Area of all buildings on all Parcels as of 1987 (Sections 1.02, 1.03, 1.05)

Special assessments

Allowed, levied pursuant to Section 8.03 as of 1987 (Section 1.45, Section 8.03)

Collections & liens

Assessment Lien created by Section 8.01 as of 1987 (Section 1.06, Section 8.01)

Leasing & rentals

Yes, every Owner has right to enter into any Lease for its Parcel (Section 2.03). Also subleases and lesser rights permitted. as of 1987 (Section 2.03)

Parking & vehicles

Each Owner has right to exclusive use of allocated parking spaces; allocation determined by Association subject to proximity to Owner's building, non-interference with lease commitments, and limitations on Southwest Parcel compact spaces. D as of 1987 (Section 4.05 (original and amendment))

Architectural approval

Architectural Committee approval required for any construction, excavation, grading, landscaping, or modification of improvements on the Property (except Declarant's initial improvements and repair/replacement of damaged improvements with s as of 1987 (Section 3.06, Article V)

Signs & flags

Exterior or interior signs visible from other Parcels prohibited except: signs required by law, business identification signs approved by Architectural Committee, directories, temporary signs conforming to City requirements, and project ide as of 1987 (Section 3.14)

Use restrictions

Property shall be used for commercial office purposes and amenities commonly incidental; Northwest Parcel may also be residential. Prohibited uses listed in Section 3.01. as of 1987 (Section 3.01)

Voting & meetings

All members having a right to vote voted affirmatively for the 1993 amendment; unanimous consent in writing as of 1987 (Recital D and Section 5 of amendment (DO)

Amendments

Declaration may be amended by recording a Certificate of Amendment signed by President or Vice President and attested by Secretary or Assistant Secretary, certifying that at a duly called election all members voted affirmatively, or by unan as of 1987 (Section 14.02 of original declaration (r)

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