Indian Bend Corporate Centre

Key facts from Indian Bend Corporate Centre's documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Header and passim)

Developer / declarant

Indian Bend Corporate Centre L.L.C., an Arizona limited liability company (Opening recital)

Governing law

Arizona Condominium Act, A.R.S. § 33-1201 et seq. (Section 1.1)

Assessments & dues

Common Expense Assessment based on annual budget adopted by the Board; each Unit pays its Common Expense Liability percentage (from Exhibit C) of the total budget (Sections 7.2.1, 7.2.2, 2.6)

Special assessments

May be levied by Board if total Special Assessments do not exceed 20% of budgeted Common Expenses; if exceeded, requires approval of Unit Owners holding at least 66 2/3% of the votes (Section 7.3)

Collections & liens

Assessment Lien granted by Condominium Act; subordination to First Mortgages (Section 7.5); remedies include foreclosure (Section 7.4 and 7.5)

Reserves & fees

Required; Section 7.9 (Section 7.9)

Pets

No animals, birds, reptiles, fowl, poultry, or livestock may be kept in any Unit or on any portion of the Condominium (Section 4.16)

Leasing & rentals

Yes, leases are permitted; must be in writing and subject to Condominium Documents; breach of Documents by lessee constitutes default under lease (Section 4.15)

Parking & vehicles

Only in designated parking spaces; no construction/reconstruction/repair of motor vehicles; no inoperable vehicles (Section 4.8)

Architectural approval

Board of Directors approval required for structural improvements, additions, alterations, exterior changes visible from outside the Unit, and any improvements to Common Elements (Section 4.4)

Signs & flags

No signs visible from exterior of Building without prior written Board approval; all signs must conform to the Master Sign Plan for Indian Bend Corporate Centre (Section 4.11)

Maintenance

Association: Common Elements (inspection, maintenance, repair, replacement) including obligations under Reciprocal Easement etc. Unit Owners: their Unit, Improvements, and allocated Limited Common Elements (Section 5.2) (Section 5.1 and 5.2)

Insurance

Required by Article 8; scope described in Section 8.1 (not fully quoted in excerpt) (Article 8)

Use restrictions

Residential use is expressly prohibited; all use must be in compliance with applicable zoning and Section 4.2 restrictions (Section 4.2(xiii))

Voting & meetings

Total votes in Association = 100; allocated among Units in proportion to each Unit's percentage undivided interest in Common Elements (based on square footage per Exhibit C) (Section 2.7)

Amendments

Article 12.4 (not fully extracted) provides for amendment of Declaration; Article 12.9 addresses amendment of Articles; also Section 2.8.4 and 2.8.6 provide for amendments to allocate/reallocate Limited Common Elements (Sections 12.4, 12.9, 2.8.4, 2.8.6)

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