Park Lane Business Center

Key facts from Park Lane Business Center's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 2: Establishment of the Condomin)

Legal name

Park Lane Business Center Owners Association (Article 1.4)

Units / lots

28 (planned) (Article 3.2: "There are or are planned t)

Developer / declarant

Deer Valley Airpark Venture III, LLC, an Arizona Limited Liability Company (Opening paragraph of Declaration)

Governing law

Title 33, Chapter 9 of the Arizona Revised Statutes (Recitals B and Agreement, and Article 1.)

Assessments & dues

The Board adopts budgets and levies annual, special, and supplemental assessments without ratification by Owners, subject to the procedures in Article 8. (Section 8.1, 8.3, 8.4, 8.5)

Special assessments

May be levied by the Association (not specifically defined in excerpt, but Article 8.4 is titled "Special Assessments" and is present in table of contents; full text not provided, but we can infer it exists. Since full article not extracted (Article 8.4 (title only, text not fully )

Collections & liens

Each assessment, together with interest, costs, reasonable attorneys' fees, is a lien on the Unit. It is also a personal obligation of the Owner at the time the assessment was levied. (Section 8.2)

Reserves & fees

Board may establish a reserve for repair, maintenance, taxes, insurance, management, etc. (if Association elects) (Article 8.3(2))

Pets

No animals, reptiles, fish (except aquarium inside a Unit), or birds of any kind unless approved in writing by the Board. (Section 6.4)

Leasing & rentals

Yes. Any lease must be in writing, subject to the Condominium Documents, and a copy delivered to the Board prior to commencement. (Section 6.18)

Parking & vehicles

All vehicles must be parked only in designated Parking Spaces. (Section 6.10)

Architectural approval

Yes. No building, fence, wall, antenna, tower, awning, sign, or other structure shall be constructed, erected, placed, or maintained, and no exterior addition, change, or alteration shall be made without written approval of the Board acting (Section 6.24)

Home business

Business use is limited to the purposes permitted within Exhibit C (not included in extract). (Section 6.7)

Signs & flags

No exterior signs or interior signs visible from outside, advertisements, name plates, etc. without prior approval of City of Phoenix and Board or Declarant; must conform to signage criteria on Exhibit B (Article 6.9)

Maintenance

Each Owner shall maintain his/her Unit and Limited Common Elements; the Association shall maintain the Common Elements. (Section 12.1)

Insurance

The Association shall obtain and maintain property insurance covering the Common Elements and the Units (excluding improvements and betterments installed by Owners) against fire and other perils. (Section 9.2)

Use restrictions

No. Units shall be utilized only for office use, not for housing or living purposes. (Section 6.1)

Voting & meetings

Class A: each Unit Owner votes proportional to undivided interest in Common Elements; Class B: Declarant votes 4 times the percentage per Unit owned. Class B converts to Class A upon sale of unit or when 75% of units sold to non-Declarant o (Section 7.3)

Amendments

Allocation of common elements may be modified only by unanimous vote of all Unit Owners (Section 3.5). Article 13 (amendment) is not fully provided; specific provisions may apply. Article 4 (Parking) requires 100% Owner approval to amend. (Section 3.5(1), 4.3)

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