Caroline Lane

What Caroline Lane's governing documents say

Caroline Lane is a single-family home HOA in Phoenix, AZ. The association's only role is to maintain the private road (Caroline Lane) and a drywell at the east end. All homeowners of the listed parcels are members and must pay assessments for those limited purposes. There are also limited members (owners of certain adjoining property) who have access rights but no voting power unless they convert to full membership with unanimous consent.

• What the association does: The association owns, maintains, and manages only the private road (Caroline Lane) and the drywell at its east end. It cannot extend into any parcel except to collect assessments. It also provides insurance for common areas and the board, and covers administrative costs.
• Assessments: Each parcel owner pays an initial assessment of $300 and an initial annual assessment of $150. After the first year, the board can increase the annual assessment by up to 5% per year without membership approval. Special assessments require approval of 75% of members.
• Members & voting: Each parcel owner is a member with one vote per parcel. Limited members (owners of property on Exhibit B) have no voting rights for board elections and can only vote on amendments affecting their rights. They become full members only with unanimous written approval of all full members.
• Delinquency & liens: Unpaid assessments become delinquent 30 days after levy, bearing 15% annual interest and a late fee of the greater of $15 or 10% of the unpaid amount. The association may sue or foreclose the assessment lien, recovering attorneys' fees and costs.
• Amendments & term: The declaration can be amended by an instrument signed by owners of at least 75% of the parcels. The covenants run with the land and are binding on all successors.
• Limited members: Limited members (owners of property described in Exhibit B) have rights to use the common areas (road and drywell) and an easement for ingress/egress, but they are not subject to Article III assessments unless they consent. If the county abandons adjacent roads, those roads become association common areas.
• What this document doesn't cover: This document does not regulate pets, leasing, architectural changes, or any other typical HOA rules. The association's powers are strictly limited to maintaining the road and drywell and collecting assessments for that purpose.

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.