The Santa Fe Fountains

What The Santa Fe Fountains's governing documents say

The Santa Fe Fountains is a phased condominium community in Phoenix (Maricopa County), Arizona, where you own your individual unit and hold an undivided interest in shared common areas. The association maintains all common elements and infrastructure, funded through equal per-unit assessments; membership and voting rights are automatic upon purchase and terminate upon sale.

• What you own & maintain: You own your unit's interior (finished surfaces, windows, doors, electrical outlets in perimeter walls) plus an undivided share of the common area (building structure, utilities, parking, grounds, recreational facilities). You maintain your patio/balcony landscaping; the association maintains common areas, garage exteriors, and all shared infrastructure.
• Parking: Each unit includes one assigned covered parking space reasonably near your unit. The board may reassign parking spaces to improve overall owner convenience.
• Assessments & monthly fees: All unit owners pay equal annual assessments, divided into 12 monthly installments. The maximum first annual assessment is $780 per unit. Future annual increases are capped at the Consumer Price Index increase unless a two-thirds supermajority votes for a higher amount. Decreases are limited to 20% below the prior year without a two-thirds vote. Unpaid assessments accrue 12% annual interest if not paid within 30 days of the due date.
• Assessment liens & enforcement: Unpaid assessments create a lien on your unit that is senior to all other liens except property taxes and first mortgages. The association may foreclose on your unit and sell it to recover unpaid assessments, late fees, interest, attorney fees, and costs.
• Membership & voting rights: You automatically become an association member upon buying your unit; membership automatically terminates when you sell. Each unit owner (Class A) has one vote per unit. The developer (Class B member) holds three votes per unit, which convert to Class A voting when either (a) Class A members' total votes equal Class B votes, or (b) five years after the first unit sale, whichever occurs first. Decisions require 51% of members present at a meeting. Notably, you have no voting rights on your unit until an assessment is levied against it.
• Architectural review: You must obtain approval from the Architectural Control Committee before making any alterations or improvements to your unit. Submitted plans must be approved before work can begin.
• Party walls: The community is subject to party wall agreements governing shared walls between units. Rights, duties, and liability (including for damage caused by negligence) are addressed in the declaration, with disputes subject to resolution procedures outlined in the bylaws.
• Phased development: The Santa Fe Fountains is being developed in phases. Phase 1 (currently subject to this declaration) contains 24 units. Phases 2–6 will eventually contain 21, 15, 21, 24, and 21 units respectively and will become subject to the same declaration once the developer records them into the system.

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.