Grace Court

What Grace Court's governing documents say

Grace Court is a commercial office and research & development property in Phoenix, AZ, governed by a Declaration of Covenants, Conditions and Restrictions (CC&Rs). This document binds all owners and lessees of the multiple parcels (buildings and parking structure) and establishes a Management Committee to oversee shared areas, costs, and rules. It is not a residential community — the property is limited to office and R&D uses.

• Permitted use: The property may be used exclusively for office and research & development activities (and related parking). No residential or other uses are allowed without the Management Committee's written approval.
• Who is bound: All owners and their lessees must comply with the declaration. Owners must require their lessees to follow the rules, and leases existing before the declaration may have conflicting terms that control.
• Management Committee & cost sharing: A Management Committee, composed of one representative per owner (one vote per parcel), oversees common areas and adopts rules. Each owner pays its share (based on percentages listed) of operating costs, real property taxes, and insurance for common areas.
• Maintenance obligations: Each owner maintains its own parcel and improvements, including easement areas. If an owner fails to maintain, other owners or the Declarant may step in and charge the owner, plus interest. The Parking Structure owner is responsible for its upkeep.
• Architectural & exterior changes: Exterior alterations (color, design, height, bulk) require Management Committee approval. Interior improvements do not need approval if they stay within the building footprint and are not major. Larger projects require 30 days' notice and approval.
• Parking: Parking in the Parking Structure is available on a first-come, first-served basis. If demand exceeds supply, spaces are allocated pro-rata by rentable square footage. Certain existing leases have exclusive parking areas shown on exhibits.
• Signage, noise & nuisances: Signs are restricted to those permitted by the Management Committee (existing signs as of the date are exempt). No loudspeakers or noises that can be heard in other buildings are allowed without approval. Noxious, illegal, or flammable activities are prohibited.
• Term & termination: The declaration runs for an initial 75 years from recording, then renews automatically for 10-year periods. It can be terminated only by a recorded notice signed by all owners and the Declarant within one year before the end of a term.

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.