The Terraces at Mountain Park Ranch Condominium

Key facts from The Terraces at Mountain Park Ranch Condominium's documents

Community type

Condominium (Title of Document)

Developer / declarant

Coventry Homes, Inc., an Arizona corporation (Opening paragraph)

Governing law

Arizona Revised Statutes (A.R.S. §33-1255(F) and §33-1202 cited in text) (Section 5.0 and Section 6.1)

Assessments & dues

$1,020.00 per unit until January 1 following conveyance of first unit to a purchaser (Section 8.3: 'the annual assessment for )

Special assessments

May be levied for capital improvements or other lawful Association purpose, must be ratified by owners in same manner as annual budget ratification (Section 8.4)

Collections & liens

Delinquent assessment becomes a continuing lien on the unit; Association may bring action at law against owner personally or foreclose its lien in manner provided for foreclosure of a realty mortgage (Section 8.8: 'The ASSOCIATION shall have)

Reserves & fees

Association shall establish and maintain an adequate reserve fund for periodic maintenance, repair and replacement of improvements to the general common elements (Section 8.14)

Pets

Reasonable number of house pets permitted; no other animals, birds, fowl, poultry or livestock (Section 4.6: 'No animals, birds, fowl, p)

Leasing & rentals

Lease of a unit to a single family from time to time by owner is not prohibited (Section 4.0: 'Nothing herein shall be de)

Parking & vehicles

Unit owners to utilize their garages at all times for vehicles; all parking spaces available for use by members of owner's families, guests, and tenants (Section 2.7 and Section 4.12)

Architectural approval

Structural alterations, additions or improvements to any unit or general common elements require prior written approval of members entitled to cast at least 80% of votes; any addition visible from exterior requires prior written approval of (Section 4.3)

Solar & roof

Solar energy devices affecting exterior appearance require prior written consent of Architectural Committee (Section 4.16)

Home business

No gainful occupation, profession, trade or other non-residential use; but owner may maintain personal professional library, keep personal business records, handle personal business calls or correspondence from unit (Section 4.0: 'Nothing herein shall be de)

Signs & flags

No signs other than a name and address sign not exceeding 9 x 30 inches without written approval of Architectural Committee (Section 4.13: 'No signs... other than a )

Use restrictions

All units and limited common elements shall be used, improved and devoted exclusively to residential use by a single family (Section 4.0: 'All UNITS and LIMITED COMM)

Voting & meetings

One vote per unit owned (Section 7.0: 'each OWNER of a UNIT shall)

Amendments

Amendments by owners (Section 15.3) and by declarant (Section 15.4) - specific provisions not fully excerpted (Index reference to Sections 15.3 and 15.)

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