Executive Suites Association

Key facts from Executive Suites Association's documents

Reflects the 1974 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Horizontal Property Regime (condominium) (Article II: Submission of Property, PAGE)

Legal name

Executive Suites Association (I(b))

Governing law

Arizona Revised Statutes §33-551 through §33-562 (the Act) (WHEREAS paragraph, PAGE 1; also Article )

Assessments & dues

Not fixed; determined as Common Expenses by Board per By-Laws (Article VII: "Payment of Common Expenses)

Special assessments

Levied for deficiency in insurance proceeds (Article X(c)), condemnation (Article XI), or alterations (Article XIII); secured by lien (Article X(c), PAGE 13; Article XI, PAGE )

Collections & liens

Unpaid Common Expenses constitute a lien on the Owner's Apartment, subordinate to a first mortgage or deed of trust; foreclosable in same manner as realty mortgages (Article VII, PAGE 8-9; Article XVIII, PA)

Leasing & rentals

Yes, but subject to Association's first option to purchase or lease on same terms; 30-day notice required (Article XVI, PAGE 21-22)

Parking & vehicles

Each Owner entitled to exclusive use of one covered parking space per Apartment, assigned by Board; additional parking must be negotiated with Board (Article VI, PAGE 8)

Architectural approval

No alterations of Common Elements without prior written approval of Board; nonstructural alterations within an Apartment may be made without approval (Article XIII, PAGE 19-20)

Home business

Permitted: maintaining personal professional library, keeping personal business records, handling personal professional telephone calls or correspondence, as customarily incident to residential use (Article XVII, PAGE 26)

Signs & flags

Declarant reserves right to maintain sales offices, model apartment units, and signs on Property until all Apartments sold (Article XVII, PAGE 25)

Maintenance

Owner responsible for maintenance, repairs, replacements within his Apartment; Association responsible for Common Elements as part of Common Expenses (Article XII, PAGE 18)

Insurance

Board shall obtain insurance against fire and other hazards for not less than 80% of full insurable value of Common Elements and Apartments; also comprehensive public liability insurance (Article IX, PAGE 9-10)

Use restrictions

No part of Property used for other than housing and related common purposes; each Apartment shall be used as a residence and for no other purpose (Article XVII, PAGE 25-26)

Voting & meetings

Aggregate number of votes is 100, divided among Owners in proportion to their percentage interests in Common Elements; cumulative voting in election of directors per Arizona Constitution Article XIV, §10 (Article IV, PAGE 6)

Amendments

May be changed by instrument signed by Owners of at least 80% of total ownership of Common Elements and acknowledged, with written consent of all first mortgage holders and beneficiaries under first trust deeds; Declarant may amend until al (Article XIX, PAGE 29-30)

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