The Overlook at Firerock

What The Overlook at Firerock's governing documents say

This is a partial amendment to the condominium declaration for The Overlook at Firerock, a condominium in Phoenix, AZ. It adds rules that primarily protect mortgage lenders (first mortgagees) rather than unit owners. As a single amendment, it does not contain the community's full rules on pets, leasing, age restrictions, or other typical topics.

• Rights of mortgage lenders: The amendment grants first mortgagees (lenders) certain rights: the association must notify them of termination proposals, major casualty losses, payment delinquencies beyond 60 days, insurance lapses, and actions requiring lender consent. Lender approval (by 51% of units with mortgages) is required for amendments that materially harm lender protections, for using insurance proceeds outside of repair, and for terminating the condominium.
• Lender approval process: Written requests for lender approval are sent by certified mail; if a lender does not respond negatively within 60 days, they are deemed to have approved. Declarant amendments during development rights are exempt from lender approval.
• What this document doesn't cover: This amendment only addresses lender rights. It does not cover pet limits, leasing rules, age restrictions, parking, architectural review, or other typical homeowner rules. You must read the full original Declaration and other amendments for complete community rules.

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.