East Portland Condo - Lot 16 Condominiums

Key facts from East Portland Condo - Lot 16 Condominiums's documents

Reflects the 2024 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 1.2; Declaration title)

Developer / declarant

1122-1130 EAST PORTLAND STREET LLC, an Arizona limited liability company (Recitals (page 8))

Governing law

Arizona Condominium Act A.R.S. Section 33-1201 et seq. (Article 1.2)

Assessments & dues

Set by Board in annual Budget (Section 6.3.1 (page 18))

Special assessments

Allowed; Board may levy; if ≤5% of budgeted gross expenses, needs Board majority; if >5%, needs majority consent of Owners (Section 6.7.1) (Sections 6.4 and 6.7.1 (pages 18-20))

Collections & liens

Assessments become a lien upon recordation of notice of delinquent assessment; personal obligation also exists (Section 6.1 (page 17))

Reserves & fees

Reasonable reserves as deemed appropriate by Board; included in Common Expenses (Section 2.15.6); Special Assessments may replenish reserve account (Sections 2.15.6, 6.4 (pages 3, 18))

Leasing & rentals

Provision exists: Section 7.3 'Rental Of Units' (Table of Contents); details not included (Table of Contents (page iv))

Parking & vehicles

Provision exists: Section 7.7 'Parking and Vehicular Restriction' (Table of Contents); Association may control parking in Common Area (Section 3.4.6(c)) (Table of Contents (page iv); Section 3.4)

Fences

Provision exists: Section 8.2 'Maintenance of Fences' (Table of Contents) (Table of Contents (page v))

Signs & flags

Provision exists: Section 7.6 'Signs and Displays' (Table of Contents) (Table of Contents (page iv))

Insurance

Association obtains property insurance and liability insurance as described in Article 11 (Article 11 (pages 39-43))

Use restrictions

Provision exists: Section 7.1 'Residential Use' (Table of Contents); details not included (Table of Contents (page iv))

Voting & meetings

Class A (non-Declarant Owners): 1 vote per unit; Class B (Declarant): 3 votes per unit owned (Section 5.2 (page 16-17))

Amendments

Before close of first sale: by Declarant alone. After close of first sale: as per Article 15 (details not fully included) (Article 15 (pages 53-55))

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