Glencourt I Townhouses

What Glencourt I Townhouses's governing documents say

This is an amendment to the Covenants, Conditions & Restrictions (CC&Rs) for Glencourt I Townhouses, a townhome community in San Tan Valley, AZ. It modifies only three specific rules about assessments, late fees, and lien priority. A full set of rules is not included here.

• Annual assessment increases: The board may increase regular assessments up to the greater of 5% or the cost-of-living index without a membership vote. Any increase beyond that requires approval by two-thirds of members voting in person or by proxy at a meeting.
• Late charges on assessments: The board may now impose a maximum late charge amount (previously the board could set any amount). The specific maximum is not stated in this amendment.
• Assessment lien priority: Assessment liens are subordinate (not superior) to the lien of any first mortgage, regardless of the dates when the liens were recorded.
• What this document doesn't cover: This amendment only addresses three sections of the CC&Rs. It does not include pet rules, leasing restrictions, parking rules, architectural standards, or any other typical HOA provisions. Those would be in the original CC&Rs or other 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.