Canyon Residences Condominium

Key facts from Canyon Residences Condominium's documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Condominium Declaration for Canyon Resid)

Units / lots

Initially five (5); maximum five (5) Units (Section 2.4)

Developer / declarant

Parcel G Development, LLC, an Arizona limited liability company (Recitals and opening paragraph)

Governing law

Arizona Condominium Act, A.R.S. §33-1201, et seq. (Section 1.1)

Assessments & dues

Common Expense Liability allocated based on Unit square footage relative to total square footage (percentage interest in Common Elements) (Section 2.6: 'undivided interests in the)

Special assessments

Provided for in Section 7.3 (Table of Contents and Section 7.3)

Collections & liens

Association has Assessment Lien to secure unpaid Assessments; subordination to mortgages (Section 7.5) (Section 1.2.4 definition of Assessment L)

Reserves & fees

Reserve Contribution paid by each Person acquiring a Unit from Declarant (Section 7.11) (Section 1.2.35, Section 7.11)

Leasing & rentals

Entire Unit may be leased, subject to conditions (Section 4.9)

Architectural approval

Board approval required for structural additions, alterations, improvements; also for nonstructural changes visible from exterior; prior approval required for any changes to Common Elements (Section 4.6.1, 4.6.2, 4.6.7)

Maintenance

Association maintains Common Elements; Unit Owners maintain Units and Limited Common Elements allocated to them (Section 5.1 and Section 5.3 (referenced )

Use restrictions

Property shall be used exclusively for condominiums and ancillary purposes (Section 4.1)

Voting & meetings

Each Unit has one vote (Section 2.7)

Amendments

Provided in Section 14.5; includes amendments by Declarant during Period of Declarant Control for specified purposes (Section 1.2.20(vi)-(vii)) (Section 14.5, Section 1.2.20)

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