The Corridors - Phoenix

Key facts from The Corridors - Phoenix's documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Commercial/Mixed-Use (Section 5.4: 'commercial office, "flex s)

Units / lots

six Lots initially (east of 23rd Avenue); additional lots may be added via replat or annexation (Section 9.1)

Developer / declarant

TAG Land Pinnacle, L.L.C., NBS Pinnacle 2075, L.L.C., NBS Pinnacle 2155, L.L.C. (all Delaware limited liability companies) (Opening paragraph)

Governing law

Laws of the State of Arizona (Section 10.3)

Assessments & dues

Not fixed; determined annually by Association based on estimated Operating Costs and reserves. (Section 3.2(b))

Special assessments

Not termed 'special assessment' but Association may adjust Maintenance Charge to include reserves for future expenses and contingent liabilities; true-up after year-end. (Section 3.2(b)-(d))

Collections & liens

Delinquent Maintenance Charges plus interest and collection costs become a continuing lien on the property interest and a personal obligation of the Property Owner at the time of assessment. Association may bring action at law or equity to (Section 3.2(e)-(f))

Reserves & fees

Association may include reasonable reserves for future expenses and contingent liabilities in Maintenance Charge. (Section 3.2(b))

Leasing & rentals

Leasing is implicitly allowed; definitions of Ground Lessee and Lessee provided. (Sections 1.7 and 1.8)

Fences

Subject to ACC approval for construction; perimeter fence/wall is common area maintained by Association; Property Owner maintains own fences on their lot. (Section 5.3; Section 1.4 (common area pe)

Architectural approval

Yes, Architectural Control Committee approval required for any building, sign, fence, wall, trash container, structure, landscaping, grading, or exterior alteration. Plans and specifications must be submitted showing nature, kind, shape, he (Section 5.3)

Signs & flags

No signs on buildings except street address numbers. Outside signs must comply with City of Phoenix approved master signage plan and requirements; Committee has absolute authority to approve/deny. Signs in common area for project identifica (Section 5.3; Section 2.3)

Maintenance

Association maintains Common Areas. Property Owner fully maintains and repairs exterior of structures, driveways, parking lots, fences, paving, walkways, landscaping, undedicated streets, walkways, and Utility Lines on their lot, as well as (Sections 3.1, 5.4(b), 5.4(j))

Insurance

Operating Costs include property casualty, public liability, property damage, and workers' compensation insurance. Association decides what expenses are necessary. (Section 1.13)

Use restrictions

Violation of Protective Covenants is declared to constitute a nuisance, and every remedy allowed by law or equity applies. (Section 7.2)

Voting & meetings

Two classes: Class A (Property Owners other than Class B) and Class B (Declarants). Until Class B termination, Class A has no vote. Vote entitlement: one vote per acre owned, rounded to nearest 1/10 acre. Fractional votes allowed. If lot ow (Section 4.2)

Amendments

Declaration (except Article II) may be terminated, extended, modified, or amended by Association upon written approval of Property Owners having two-thirds of total Association votes. Must be in writing and recorded. Applicability uniform t (Section 6.2)

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