Southbank

What Southbank's governing documents say

Southbank is a commercial/office park development in Phoenix, AZ, governed by a Property Owners' Association (HOA). It includes lots for offices, hotels, retail, and other commercial uses, with shared common areas maintained by the association. This declaration applies to all lot owners and establishes a general plan for the property's use and aesthetics.

• Property type & use: All lots must be used only for approved commercial purposes: offices, showrooms, hotels, banks, health clubs, restaurants, retail, and related uses. No residential or residential-style use is permitted.
• Assessments & fees: Owners pay Regular Assessments (for common expenses), Special Assessments (for costs benefiting a specific lot), and Capital Assessments (for capital improvements). Late payments incur a late charge of at least $150 and interest at 5% over the prime rate. Unpaid assessments become a lien on the lot.
• Architectural review: No building, improvement, or landscaping may be commenced or altered without prior approval from the Architectural and Development Control Committee (or the Board on appeal). Plans must conform to the Southbank Development Guidelines. The committee has 30 days to respond; failure to act results in deemed approval.
• Maintenance responsibilities: The association maintains common property (e.g., landscaping, utilities) to a high business-park standard. Each owner must maintain their lot's landscaping and building exterior to the same standard, and keep the lot free of weeds, trash, and debris.
• Parking & vehicles: No trucks, trailers, campers, or boats may remain on lots or common property unless approved. Temporary guest parking, deliveries, and service vehicles are allowed. The Board may set parking rules and assess charges for violations as special assessments.
• Insurance & disaster: The association carries blanket liability, casualty, and fire insurance on common property. Owners waive claims against the association for losses covered by insurance. In case of destruction, the association must restore common improvements using insurance proceeds, with the possibility of capital assessments if proceeds are insufficient.
• Utility & easement rules: All gas, electric, telephone, and other utility lines must be placed underground on lots and common property. Easements are granted for installation and maintenance of utilities and drainage facilities.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.