Larkspur Gardens

What Larkspur Gardens's governing documents say

Larkspur Gardens is a condominium community in Phoenix, AZ, established as a horizontal property regime. It consists of 16 buildings containing a total of 64 units, each with an undivided interest in the common elements. The community is governed by the Larkspur Gardens Homeowner's Association, with a two-class voting structure (Class A for owners, Class B for the declarant).

• What you own & maintain: You own the interior of your unit (including floor coverings, cabinets, fixtures, and appliances installed by the builder). The association maintains the common elements (e.g., roofs, structural walls, common HVAC systems, land) and common areas (e.g., guest parking, open spaces). Owners must maintain their own unit, patio, and balcony.
• Association & voting: The association has two classes: Class A (all unit owners, one vote per unit weighted by floor space) and Class B (declarant, three votes per unit weighted similarly). Class B membership automatically converts to Class A upon sale of units or after 120 days from when Class A votes equal Class B, or 3 years after the first unit sale. While Class B exists, Class A members cannot vote for directors.
• Assessments & fees: Each owner pays a proportionate share of common expenses (based on their unit's interest in common elements). Late charges up to 10% may apply. Unpaid assessments become a lien on the unit, subordinate to first mortgages. The association must maintain a working capital fund equal to at least two months' estimated expenses for the first year.
• Insurance: The association carries casualty insurance covering the buildings (excluding owner's personal property) for at least 90% of replacement cost, plus liability insurance (minimum $1M per injury, $5M per occurrence) and workers' compensation. Owners may obtain their own insurance for personal property and liability, but it must not conflict with the association's policies.
• Parking: Each unit is assigned one or more restricted parking spaces with an exclusive easement. Parking spaces cannot be sold or transferred separately from the unit. Guest parking is available in perimeter areas and is managed by the board.
• Common element use & restrictions: Each unit has a non-exclusive right to use common elements and common areas for access and enjoyment, subject to rules set by the board. The board may lease or grant easements over common elements. The declarant retains exclusive access to unsold units until conveyance.
• Destruction & restoration: In case of substantial destruction, condemnation, or obsolescence, restoration requires approval of 75% of unit owners (by common element interest) and unanimous consent of institutional mortgage holders. If not approved, the property may be sold and proceeds distributed according to ownership interests. Special assessments may be levied for restoration.

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.