Silverstone Ranch

Key facts from Silverstone Ranch's documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned residential community with equestrian lots and amenities (Recitals, Article 1 (Definitions: Equest)

Developer / declarant

DMB Property Ventures Limited Partnership, a Delaware limited partnership, and its successors and assigns (including UDC Homes, Inc. under certain conditions) (Section 1.13, Recitals)

Governing law

Arizona Revised Statutes (references to statutes and regulations of the State of Arizona) (Section 1.4, 1.8, 1.10)

Assessments & dues

Determined annually by Board based on budget; subject to Maximum Annual Assessment per Section 8.7 (Section 8.5, 8.7)

Special assessments

May be levied by Board per Section 8.9; for Common Expenses, allocated equally among Lots (Section 8.1, 8.9)

Collections & liens

Lien for assessments against each Lot, prior except for taxes and first mortgages; foreclosable as mortgage; Association may bid and acquire Lot; no vote while owned by Association; no assessments during such ownership (Section 8.3)

Reserves & fees

Surplus monies may be used for Common Expenses or placed in reserve account for contingencies or capital improvements (Section 5.3.2, 8.12)

Pets

Not explicitly in excerpt; Equestrian Lots allow horses; Stables and Bridle Path are provided; no general pet restriction stated

Leasing & rentals

Yes; Owner may lease Lot; rights under Article 2 delegated to lessee; lessee may be assigned voting rights under conditions (Section 10.22, Article 2, Section 3.4)

Parking & vehicles

Garages and Driveways: Section 10.4; Vehicles: Section 10.13 (not quoted); no specific on-street parking restrictions in excerpt (Sections 10.4, 10.13 (referenced))

Fences

Section 10.17 Fences, Interferences and Obstructions; also boundary walls maintained by Association or Owner per Section 4.1.6 (Sections 10.17, 4.1.6)

Architectural approval

Architectural Committee approval required for construction, alteration, or landscaping changes; plans must be submitted and reviewed (Section 9.3, 9.4)

Solar & roof

Section 10.9 Solar Collecting Panels or Devices; regulated (Section 10.9 (referenced))

Home business

Not expressly mentioned in excerpt

Signs & flags

Not explicitly in excerpt; Table of Contents does not list signs; Section 12.17 mentions Temporary Sign Easement (Section 12.17 (referenced))

Maintenance

Association maintains Common Area (including Bridle Path, Stables, Pathway, landscaping in public areas, perimeter walls); Owner maintains structures on Lot (including fences, stables, and other horse containment) and side of boundary wall (Sections 4.1, 4.2, 4.1.6)

Insurance

Hazard: lesser of $10,000 or 1% of face; Flood: lesser of $5,000 or 1% of face (unless higher required by law) (Sections 5.1.1(e), 5.1.3)

Use restrictions

Property shall be used for residential, recreational and equestrian purposes; Dwelling Units for Single Family (Section 10.1, 1.15, 1.34)

Voting & meetings

Two classes: Class A (all Owners except Declarant) - one vote per Lot; Class B (Declarant) - three votes per Lot owned. Class B converts to Class A upon certain events. Multiple owners must designate one voter. (Section 3.1, 3.3, 3.4)

Amendments

Section 12.2 Amendment; requires specified percentage of votes and Eligible Mortgage Holder approval for certain changes; details not quoted (Section 12.2 (referenced))

Amenities

Common Area includes Bridle Path, Stables, Pathway; recreational facilities are mentioned (use subject to rules); no pool, clubhouse, gym, lake specified (Sections 1.9, 1.28, 1.36, 7.1)

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