Galleon Cove Condominiums

Key facts from Galleon Cove Condominiums's documents

Reflects the 1981 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Horizontal Property Regime) (Section 1 (Name) and Section 3 (Submissi)

Developer / declarant

Galleon Properties, Inc., a Nevada corporation (Preamble)

Governing law

Arizona Revised Statutes Sections 33-551 through 33-561 (the Act) (Section 2.1)

Assessments & dues

Total amount of regular assessment and each Owner's share (based on fractional ownership interest) determined by Board at reasonable intervals per Articles and Bylaws. (Section 13.3)

Special assessments

Allowed for unanticipated costs, charged in same proportion as regular assessments. Also can be levied for owner's failure to maintain. (Section 13.2(i) and (ii) and Section 13.)

Collections & liens

Each assessment constitutes a lien on the apartment. Association may foreclose like a mortgage or mechanic's lien, with power of sale. Also may bring personal action for debt. (Section 13.5(iv)-(v))

Reserves & fees

Board may establish and maintain a reserve fund from regular assessments (not special assessments) for periodic maintenance, repairs, replacements of Common Elements. (Section 13.1(ii))

Pets

Only household pets may be kept in Apartments. No animals raised, bred, or kept in any Apartment or Common Area. Board may limit number and kind, and otherwise regulate pets. (Section 6.6)

Leasing & rentals

Yes, only entire Apartments may be rented. (Section 6.5)

Parking & vehicles

Each Apartment has exclusive use of two Parking Spaces as shown on Plat. Parking Spaces used only for parking passenger motor vehicles. No campers, vans, trucks, trailers, boats, recreational vehicles allowed in parking spaces. (Section 4.5 and Section 6.14)

Fences

No fences, hedges, walls, or landscaping shall be placed or maintained outside except as initially installed by Declarant or approved by Board. (Section 6.9)

Architectural approval

No substantial alterations, additions, or improvements to Common Elements without Majority Owner approval. Any addition/alteration/improvement within an Apartment that is reasonably visible from other portions or neighborhood requires prior (Section 10)

Home business

Business activities prohibited, but Owner may maintain personal professional library, keep personal business records, handle personal business calls or correspondence. (Section 6.8)

Signs & flags

No advertising or other signs without Board approval. Board may designate a place for 'for rent' or 'for sale' signs not exceeding four square feet. (Section 6.7)

Maintenance

Association maintains: outside walls, floor/ceiling slabs, load-bearing walls, conduits/ducts/plumbing/wiring serving other parts, common elements, parking spaces (except Refrigeration Units). Owner maintains: interior surfaces, service equ (Section 9.1 and 9.2)

Insurance

Multi-peril policy covering entire Condominium Project, fire and extended coverage, vandalism, malicious mischief, 100% insurable value based on replacement cost. Also comprehensive public liability insurance minimum $1,000,000 per occurren (Section 14.2)

Use restrictions

Each Apartment shall be used as a residence and for no other purpose, occupied only by a single family, its servants and guests. (Section 6.1)

Voting & meetings

Class A: Owners (one vote per apartment owned); Class B: Declarant (three votes per apartment owned). Class B converts to Class A upon sale or when Class A votes equal or exceed Class B votes. (Section 12.2)

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