Central Park East

What Central Park East's governing documents say

Central Park East is a large mixed-use planned development in Phoenix, AZ, including office, retail, hotel, educational, and residential uses. This Declaration of Covenants, Conditions, Restrictions and Easements (CCRs) establishes the master framework for all parcels within the development. It is primarily a commercial/development document; rules that apply to actual residents (e.g., pet limits, lease terms) are not covered here and would be found in sub-association or condominium declarations for specific residential parcels.

• Assessments: The Declarant (developer) levies Annual and Special Assessments on each parcel to cover common area maintenance, repairs, insurance, and reserves. Assessments are based on a percentage schedule tied to gross building area. Special assessments over $100,000 require approval of owners owning a majority of gross building area. Late payments incur a 5% late charge and interest at the Default Rate (prime rate plus 5%).
• Maintenance & Repair Responsibilities: The Declarant maintains common areas (landscaping, walkways, lighting, etc.) to a high standard. Each owner maintains their own vertical improvements and appurtenant amenities. If an owner's negligence causes damage, they must pay a Maintenance Assessment. Owners must keep their parcels in good condition; failure allows the Declarant to step in and charge the owner.
• Self-Maintaining Owners: The Declarant may designate an owner as a 'Self-Maintaining Owner' for certain common area tasks (e.g., their own landscaping). Such owners are exempt from assessments for those specific costs. The designation can be revoked if they fail to maintain properly.
• Easements & Access: Numerous easements are granted for utilities, drainage, ingress/egress, parking, support, and construction across parcels. Each owner must comply with all easement rights and cannot interfere. The Declarant reserves broad rights to grant and manage easements for the overall development.
• Insurance Requirements: Each owner must maintain property insurance on their parcel and improvements, plus business income insurance. Minimum liability coverage is $5,000,000 (combined single limit, occurrence basis). Owners must provide evidence of insurance upon request.
• What This Document Doesn't Cover: This master declaration does not include specific residential rules such as pet limits, lease terms (minimum duration), noise restrictions, or homeowner association governance for individual residential units. Those details would be found in separate condominium or subdivision declarations for specific parcels within Central Park East.

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.