P.T.C. Owner’s Association

Key facts from P.T.C. Owner’s Association's documents

Community type

Commercial and professional office uses permitted; no residential, recreational, manufacturing, or industrial use except as specified (Section 3.1)

Units / lots

Lots 2 through 18 inclusive plus subdivided portions of Tract B (APNs 301-41-338C, D, H, J, L, M) (Section 1.9)

Developer / declarant

P.T.C. Owner's Association, Inc. (First paragraph: 'made and effective as )

Governing law

Arizona law (Article 8, Section 8.5(b) (reference to )

Assessments & dues

Set annually by Board; not specified dollar amount (Article 8, Section 8.3(a): 'the Board sh)

Special assessments

For capital improvements; requires Member majority approval (Section 8.3(c))

Collections & liens

Assessments constitute a lien on Lot; may be foreclosed like a mortgage; subordinate to first mortgage (Sections 8.1, 8.5(c), 8.6)

Reserves & fees

Board may allocate to reserves; reserve study required every 10 years; new Owner pays 50% of Annual Assessment as Reserve Contribution (Sections 8.3(a), 8.14(a), 8.15)

Leasing & rentals

Implied by owner responsibility for tenants and requirement to submit architectural submittals on behalf of tenants; no explicit leasing restrictions (Article 2, Section 2.5: 'Owners are resp)

Parking & vehicles

Adequate parking must be maintained on each Lot for occupants, employees, customers, etc.; parking permitted within setbacks as per Phoenix ordinance (Article 3, Section 3.6(a) and (b))

Architectural approval

All improvements, exterior changes, landscaping, signage require prior written approval of Board (Section 2.1)

Home business

Lots used principally for commercial and professional office uses; no residential, recreational, manufacturing, or industrial except as provided (Section 3.1)

Signs & flags

Strict regulation; wall signs, monument signs, freeway signs; prohibited: A-frame, flashing, moving, audible signs; hotel signs exempt; for-sale/lease signs limited to one ground sign 18x24 inches (Article 3, Section 3.7 (entire section, )

Setbacks / home size

Front: 30'; Side: 30' (or City of Phoenix lesser); Rear: 30' (or City lesser); exceptions for steps, overhangs, landscaping, planters, temporary signs, covered parking. Special for APN 301-41-338L: 15' from 51st St, 30' from centerline of L (Section 3.5)

Maintenance

Owner responsible for Lot and all Improvements; Association responsible for Common Area and may optionally maintain certain roadway walls and parkway areas (Article 4, Sections 4.1(a), 4.1(b), 4.3)

Insurance

Property insurance on Common Area (100% replacement cost), comprehensive general liability ($1M per occurrence minimum, umbrella $2M minimum), workers compensation, directors and officers liability, fidelity bonds (Article 10, Sections 10.1, 10.2)

Use restrictions

No residential use permitted; only commercial and professional office uses (Article 3, Section 3.1: 'No recreational)

Voting & meetings

Each Owner has pro-rata vote based on Lot acreage relative to total; each Owner casts one vote (joint owners must agree or forfeit) (Section 7.5)

Amendments

By affirmative vote of Members representing 60% of voting power (Section 11.2)

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