Montello

Key facts from Montello's documents

Community type

Homeowners Association (HOA) (Association name and Article I, Section )

Developer / declarant

Declarant (not named) (Article V, Section 3)

Governing law

Arizona Non-Profit Corporation law (Article I, Section 3: 'The Association i)

Assessments & dues

Board prepares annual budget, determines pro-rata share per Lot based on Declaration (Article V, Sections 2 and 3)

Special assessments

May be levied with approval of two-thirds (2/3) of votes of each class at a meeting duly called (Article V, Section 6: 'provided such sup)

Collections & liens

Continuing lien, recorded, suit for money judgment without foreclosure (Article V, Sections 10-12)

Reserves & fees

Annual budget must include reserve for contingencies and for maintenance, repairs, and replacements of Common Areas (Article V, Section 2: 'provide for a res)

Voting & meetings

Each Voting Member (Owner) votes per Lot; classes A and B exist (Article II, Section 4)

Amendments

Bylaws may be amended by majority of Members at any regular or special meeting; FHA/VA has veto while Class B Membership exists; amendments affecting percentage interests require prior written approval of all first mortgage holders (Article VII)

Amenities

Recreational facilities (Common Areas) exist; use can be suspended (Article III, Section 11(j))

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