Ovation at Meridian

What Ovation at Meridian's governing documents say

Ovation At Meridian is a community in Queen Creek, AZ, but this document is not its governing rules. Instead, it is a Memorandum of Negative Covenants recorded by a lender (CIBC Bank USA) and the property owner (RMHSLB Owner-I, LLC) as part of a loan agreement. It places financial restrictions on the owner/developer—not on homeowners, buyers, or renters. This document does not contain the community's CC&Rs, architectural guidelines, pet rules, or other typical HOA rules.

• What this document is: This is a lender's security document that records negative covenants (promises not to do certain things) by the borrower/owner. It applies only to the owner/developer, not to individual residents.
• Restrictions on the owner (borrower): The borrower agreed not to incur additional debt beyond the loan, create new liens on the properties, merge or dissolve, make distributions to members under certain conditions, or engage in businesses outside approved lines. These restrictions protect the lender's interest.
• Properties covered: The document lists specific lots in multiple Arizona communities, including Ovation At Meridian (lots 220-223 on Collins Lane in Queen Creek), plus lots in Province at Estrella Mountain Ranch, Rancho Mercado, La Mira, Falcon Ridge, Summit at Deem Hills, and Stonehaven.
• What this document doesn't cover: This document does not contain any rules about leasing, pets, parking, architectural changes, age restrictions, or other typical HOA/condominium regulations. It does not establish homeowner obligations or community standards.

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.