The Plaza Lofts at Kierland Commons

What The Plaza Lofts at Kierland Commons's governing documents say

This document is a First Amendment to the Condominium Declaration for The Plaza Lofts at Kierland Commons, a condominium in Phoenix, AZ. It modifies specific provisions in the original declaration, primarily adding new residential units and updating ownership percentages. It is not a complete set of rules; the original declaration still governs most aspects of living in the community.

• Unit additions & allocations: The amendment adds new residential units (e.g., numbers 301-322, 530-538, etc.) and updates the table of percentage ownership interests and special allocation percentages for each unit (e.g., common expense shares). Ownership percentages are now fixed per unit as listed in the amendment.
• Voting rights & assessments: Voting rights are tied to the updated percentage interests. The amendment also changes the threshold for certain association actions (e.g., termination or substantial alteration) from 67% to 85% approval of both unit owners and eligible mortgage holders.
• Insurance responsibilities: The amendment clarifies that unit owners are responsible for insuring improvements and betterments within their unit. It also assigns 10% of the association's liability and property insurance premiums to the owners of the underground parking garage and above-ground parking garage units.
• Limited common elements access: Limited common elements on the ninth floor of the central building are reserved for exclusive use by unit owners on that floor. The association must provide security (e.g., card readers) to restrict access.
• Amendment approval thresholds: The amendment increases the required approval for certain actions (e.g., termination, substantial alteration) from 67% to 85% of unit owners and mortgage holders, as specified in the original declaration.
• What this document doesn't cover: This amendment does not cover typical resident rules such as pet limits, lease restrictions, noise, parking, or architectural review. Those are presumably addressed in the original declaration and any other governing documents.

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.