Ctpc Condominiums

What Ctpc Condominiums's governing documents say

CTPC Condominiums is a commercial condominium project in Phoenix, AZ — units must be used exclusively as commercial office or medical space, not for residential or retail use. This document establishes the condominium regime, the association, and rules for owners (who are commercial tenants or owner-occupiers).

• Use restrictions: Every unit must be used exclusively as commercial office or medical space. No retail (except incidental sales related to a unit's office use) and no residential use are allowed.
• Leasing & rentals: Leases must be for a term of at least one year. All leases must be in writing, subject to the declaration, and the owner must notify the association of tenant names and contact information.
• Animals: No animals, birds, reptiles, or insects may be raised, bred, or kept in any unit or on the property, except fish in aquariums (non-commercial). Service animals are allowed as required by law.
• Parking & vehicles: Each unit owner may purchase exclusive covered parking spaces ($1,000 per space) for every 1,000 square feet of unit space (rounded down). Additional parking is non-exclusive. No boats, campers, trailers, or commercial vehicles (except standard pickup/van) may be parked on common areas.
• Assessments & fees: Annual and special assessments are levied per square foot of unit floor area. The association maintains reserves for common area maintenance, insurance, utilities, and capital improvements. Unpaid assessments bear 20% interest per year, plus late charges. Delinquent owners may lose voting rights.
• Voting rights: Each unit owner gets one vote per 1,000 square feet of unit space (rounded). The developer (Declarant) holds class B membership with five votes per 1,000 sq ft of unsold units and per 3,000 sq ft of undeveloped Phase 2 land, until 80% of total square footage is sold.
• Declarant's reserved rights: The declarant retains extensive rights to develop Phase 2, modify unit boundaries, subdivide or combine units, and is exempt from most use restrictions until units are sold. The declarant's control ends when 80% of total square footage is sold to the public.
• Architectural review: An Architectural Control Committee (appointed by the board) must approve any modifications to units or common elements, including joining adjacent units. Owners must post a bond for such work, and all costs are borne by the owner.

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.