Montaverde

Key facts from Montaverde's documents

Community type

Homeowners Association (nonprofit corporation) (Intro para D; Article 5 Section 5.1)

Legal name

Montaverde

Developer / declarant

Taylor Morrison/Arizona, Inc., an Arizona corporation (Preamble)

Governing law

Arizona Revised Statutes (references throughout, e.g., Sections 6.8(b), 6.1) (Sections 6.8(b), 6.1 (reference to A.R.S)

Assessments & dues

Board prepares budget at least 30 days before each Assessment Period; Regular Assessment is same amount for each Assessable Lot, calculated by dividing Budget by total Lots in Property plus estimated lots in Annexable Property (Section 6.2)

Special assessments

May be levied for construction, reconstruction, repair, replacement on Common Area, or unbudgeted expenses. After Declarant Control Period, must be approved by Members holding at least 67% of votes cast, with quorum of >50% Eligible Votes. (Section 6.3)

Collections & liens

Association has a lien on each Lot for Assessments, late charges, collection fees, and reasonable attorney fees; lien may be foreclosed like a mortgage; full Assessment amount is lien from time first installment due (Section 6.8(b))

Reserves & fees

Budget includes contribution to reserve fund (mentioned in Section 6.2(a)); additional details in Sections 6.11-6.13 (not included in provided text) (Section 6.2(a))

Leasing & rentals

Rental of lots is addressed (Article 8 Section 8.14 heading visible). No details in visible text. (Table of Contents Article 8 Section 8.14)

Parking & vehicles

Regulations exist (Article 8 Sections 8.5 Vehicles and Parking, 8.7 Garages). "Permitted Motor Vehicle" excludes commercial vehicles. (Article 1 Definition of "Permitted Motor)

Architectural approval

No Construction or Modification without prior written approval of Design Review Committee (except for Declarant, repainting same color, interior work not affecting exterior, or exempted by DRC) (Section 3.2)

Signs & flags

Regulated (Article 8 Section 8.19 heading visible). (Table of Contents Article 8 Section 8.19)

Maintenance

Association maintains Areas of Association Responsibility (Common Area, certain Lot areas, public ROW if required). Owners maintain their Lots, subject to standards. (Article 1 Definition of "Areas of Associ)

Use restrictions

Lots are for residential use (implied by definition of "Residence" and Article 8 Section 8.1 heading). (Article 8 Section 8.1 "Residential Use" )

Voting & meetings

Two classes: Class A (all Owners except Declarant) – one vote per Lot; Class B (Declarant) – three votes per Lot owned (Section 5.5)

Amendments

Referenced in Article 11 Section 11.2 (not visible). Also for Supplemental Declarations: amendment requires >67% vote of Owners of lots subject to that declaration, Association, and Declarant (while owns lots). (Section 2.3(b))

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