Mark Plaza

What Mark Plaza's governing documents say

Mark Plaza is a commercial condominium in Phoenix, AZ, established in 1973. There are seven commercial units intended for professional and office use only — not residential. Unit owners share ownership of common elements and are members of the Mark Plaza Association.

• Permitted use: Units may only be used for professional or commercial office purposes. No residential, industrial, or other use is allowed without approval of a majority of owners.
• Leasing & subleasing: Leasing is permitted but subject to a right of first refusal by the Association. Leases for six months or less are exempt from this right. The Association must be given notice and 15 days to find an alternative buyer/tenant before any transfer.
• What you own & maintain: Unit owners are responsible for all interior finishes, fixtures (including air conditioning and heating equipment), and interior surfaces. The Association maintains the common elements (e.g., exterior walls, roof, structural components, parking areas) and pays for common expenses like utilities, insurance, and landscaping.
• Assessments & fees: Each unit's share of common expenses is one‑seventh (1/7th) of the total annual assessment, paid monthly in advance. The Board may levy special assessments. Unpaid assessments become a lien on the unit and may be foreclosed.
• Association & governance: The Association is governed by a three‑member Board of Directors. Until more than half the units are sold, the developer may appoint a majority of the board. Each unit owner gets one vote per unit.
• Insurance & reconstruction: The Association carries master insurance (liability, fire, hazard) for the common elements. Owners must insure their own interior improvements and contents. In case of damage, reconstruction follows the Declaration.
• Signs & exterior changes: No exterior signs are allowed without Board approval, except one ‘For Rent’ or ‘For Sale’ sign per unit (max 5 sq ft, location approved). No painting or exterior decorating without prior written Board approval.

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.