Fireside at Norterra Stacked Flats Condominiums

What Fireside at Norterra Stacked Flats Condominiums's governing documents say

This is a 2008 amendment to the condominium declaration for Fireside at Norterra Stacked Flats Condominiums in Phoenix, AZ. It primarily updates the rules to meet FHA/HUD requirements, affecting insurance, mortgage-holder rights, and annexation of additional land. This document is a partial amendment—it does not contain the full set of rules for the community.

• Insurance & fidelity bonds: The association must carry general liability insurance of at least $1,000,000 per occurrence and $2,000,000 aggregate. A blanket fidelity bond is required for all officers, directors, employees, and anyone handling association funds, covering at least three months of aggregate assessments plus reserve funds.
• Mortgagee rights & notifications: First mortgage holders who request notice in writing must be notified of proposed amendments affecting unit boundaries, common element interests, assessments, voting rights, insurance lapses, or termination of the condominium. Certain major actions (e.g., adding or amending provisions on voting, assessments, leasing) require approval by mortgage holders representing at least 51% of votes from units with eligible mortgages; termination for reasons other than destruction requires 67% approval.
• Annexation of additional land: The developer may annex adjacent land (Annexable Land) into the condominium within seven years of the declaration's recording, but only with prior written consent from HUD, VA, or Fannie Mae if they hold or insure any mortgages. Improvements on annexed land must be substantially completed and of consistent quality, and taxes must be paid before annexation.
• Utility easements & access: The association may grant utility easements over common elements if no unit owner is materially adversely affected. The developer retains access rights for completing improvements, renovations, warranty work, or modifications when other access is not reasonably available.
• What this document doesn't cover: This amendment does not set rules on pets, leasing, age restrictions, architectural review, parking, or unit maintenance responsibilities. For those rules, refer to the full Declaration of Condominium.

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.