The Phoenix Plaza Commercial Association, Inc.

Key facts from The Phoenix Plaza Commercial Association, Inc.'s documents

Reflects the 1988 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Commercial Mixed-Use (Office, Hotel, Retail) (Recitals paragraph C)

Units / lots

5 (Lot 1, Lot 2, Lot 3, Lot 4, Lot 5) (Section 1.15)

Developer / declarant

Beta Koll I, a California general partnership, and Equity Koll Phoenix Venture, a Colorado general partnership (First paragraph of Declaration)

Assessments & dues

Common Expenses determined by the Association (Section 5.1). Special Assessments require Majority approval of Owners who will pay (Section 5.2). (Section 5.1, 5.2)

Special assessments

Special Assessments may be levied for construction, reconstruction, repair or replacement of Common Improvements or personal property, approved by Majority of the Owners who will pay (Section 5.2). Lot 1 cannot be assessed special assessmen (Section 5.2)

Collections & liens

Unpaid Assessments, interest, late charges, costs and attorneys' fees constitute a lien on the Owner's Lot. Lien may be evidenced by a recorded notice. Subordinate to First Mortgage except for assessments accruing after a First Mortgagee's (Section 5.5)

Reserves & fees

Association shall maintain a reasonable reserve for insurance premiums and for repair and replacement of Common Improvements, and such other reserves as deemed appropriate. All reserves are Common Expenses (Section 5.1). (Section 5.1)

Leasing & rentals

Not restricted; Occupant defined (Section 1.23) includes tenants. No cap or disclosure requirement mentioned. (Section 1.23)

Parking & vehicles

Parking Facilities (parking garage on Lot 1) subject to control of a Parking Coordinator employed by Association and Lot 1 Owner. Parking coordinator to manage, promote car pooling, etc. Fees for certain duties paid by Association as Common (Section 2.2)

Architectural approval

Architectural Control Committee shall approve or disapprove plans within 30 days of receipt; failure to act constitutes disapproval (Section 10.4). (Section 10.4)

Solar & roof

Subject to Architectural Control Committee regulation of exterior color (Section 10.2, 10.3). Repainting with same color does not require approval (Section 10.3). (Section 10.2, 10.3)

Signs & flags

No signs or graphics visible from exterior of any Building permitted except as approved in writing by Declarants (so long as they own three or more Lots) and thereafter by Architectural Control Committee (Section 2.7). (Section 2.7)

Maintenance

Part of Building, thus Owner's responsibility (Section 4.1). (Section 4.1)

Insurance

May contain deductible and co-insurance provisions as Association deems consistent with good business practice (Section 9.1). (Section 9.1)

Use restrictions

No Owner shall engage in or permit any activity which interferes with the reasonable enjoyment by other Owners of their Lots or the Common Areas (Section 2.3). (Section 2.3)

Voting & meetings

Three classes: Class I (owners of Lots 2-5 except Declarants) have Base Votes: Lot2=35, Lot3=15, Lot4=25, Lot5=25; Class II (Declarants while they own three or more of Lots 2-5) have 300% of Base Votes; Class III (Owner of Lot 1) votes only (Section 11.3)

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