Verde Grove Association

Key facts from Verde Grove Association's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Units / lots

4 (Lot 1, Lot 2, Lot 3, Lot 3A) (Exhibit A (Page 23))

Developer / declarant

Capital Industrial Holdings LLC, an Arizona limited liability company (Opening paragraph)

Special assessments

May be levied for capital improvements or other lawful purposes, but must be approved by 75% of votes voting in person or by proxy. (Section 7.3)

Reserves & fees

Budget shall include reasonable reserves for future periodic maintenance, repair, or replacement of Common Elements. (Section 7.11)

Signs & flags

Monument sign space divided equally among Unit Owners. Any other sign on Unit must comply with City of Scottsdale ordinances. Unit Owner pays for installation of name on monument sign. (Section 4.8)

Voting & meetings

Each Unit Owner has one vote. Certain actions require 75% vote (e.g., special assessments, amendments, not rebuilding after destruction, authorizing capital improvement financing). (Sections 2.6, 7.3, 9.1, 12.4, 6.1)

Amendments

Declaration may be amended by vote of Unit Owners holding at least 75% of votes; Declarant may amend during control period for limited purposes (12.4 (Page 21))

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