Fairmont Gardens Homeowners Association, Inc.

Key facts from Fairmont Gardens Homeowners Association, Inc.'s documents

Community type

Condominium (Title and throughout)

Legal name

FAIRMONT GARDENS HOMEOWNERS ASSOCIATION, INC. (Article 1.3 (Page 5))

Developer / declarant

GRAND CANYON STATE INVESTMENT COMPANY, an Arizona corporation (Opening paragraph of Declaration)

Governing law

Arizona Horizontal Property Regime, Arizona Revised Statutes, sections 33-551 - 33-561 (as amended) (Recital B)

Assessments & dues

Initial maximum annual assessment per unit was left blank ($) in original text (Article 4.3 (Page 14))

Special assessments

Board may levy special assessment for capital improvements, repairs, unanticipated expenses, or taxes on Common Area. Aggregate special assessments in a fiscal year not to exceed 5% of budgeted gross expenses without 51% vote of non-Declara (Article 4.4 (Pages 14-15))

Collections & liens

Assessments, interest, costs, and attorneys' fees constitute a continuing lien on the unit, prior and superior except to taxes and first mortgages. Lien may be enforced by sale under Arizona Revised Statutes 33-721/33-730 or other legal mea (Articles 4.1, 4.8 (Pages 13, 16))

Reserves & fees

Annual assessments shall include an adequate reserve fund for maintenance, repairs, and replacement of the Common Area. (Article 4.2 (Page 14))

Pets

Yes, usual and ordinary household pets such as dogs, cats, or birds may be kept upon approval of Association. (Article 7.5 (Page 22))

Leasing & rentals

Owners have absolute right to lease units, subject to restrictions. (Article 7.8 (Page 22))

Parking & vehicles

Each unit has an exclusive easement for one or more assigned parking spaces (as designated on deed or by Declarant/Board). All other parking spaces are common area subject to rules. (Articles 2.2.1, 2.2.3 (Pages 8, 9-10))

Architectural approval

No building, fence, wall, structure, alteration, or improvement may be commenced, erected, painted, or maintained until approved in writing by the Architectural Control Committee. Also no foil or darkening screens on windows, no storage on (Article 8.1 (Page 23))

Home business

No trade or business may be conducted in any unit, except Declarant may use units for model home, display, or sales office during construction and until last unit sold. (Article 7.1 (Page 20))

Signs & flags

No signs displayed to public view except those approved by Board or committee. "For Sale" or "For Rent" signs allowed if approved as to size and content. (Article 7.4 (Page 22))

Maintenance

Association maintains Common Area (exterior, roofs, common utilities, recreational facilities). Owner maintains unit interior, windows, doors, Limited Common Area (patio, balcony, assigned parking, storage), and separate air conditioning/wa (Articles 5.1.1, 5.2, 9.6 (Pages 17, 18, )

Insurance

Association shall maintain master property insurance on a replacement cost basis, minimum 100% of insurable value, covering fire, extended coverage, and other perils required by institutional lenders/FHLMC. Also comprehensive public liabili (Articles 9.8.2, 9.8.3 (Pages 32-33))

Use restrictions

Units may be used only for single family residential purposes. (Article 7.1 (Page 20))

Voting & meetings

Class A (non-Declarant owners): one vote per unit; if multiple owners, only one vote per unit. Class B (Declarant): three votes per unit owned; converts to Class A when total Class A votes equal or exceed Class B's tripled vote or when last (Articles 3.4, 3.4.1, 3.4.2, 3.5 (Pages 1)

Amendments

By vote or written assent of 67% of total voting power of Association, provided specific clauses may require their own prescribed percentage. All Institutional Lenders with first mortgages must consent in writing if amendment affects their (Article 9.3 (Pages 26-27))

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