La Oua Plaza

What La Oua Plaza's governing documents say

La Qua Plaza is a commercial condominium in Scottsdale, AZ, with 40 commercial units. The community is governed by the La Qua Plaza Association, Inc., and this declaration establishes the horizontal property regime. This document is for commercial unit owners and their tenants, outlining ownership boundaries, use restrictions, and association governance.

• What you own & maintain: You own your commercial unit's interior space, including finished surfaces and half of interior non-bearing walls. The association maintains the common elements (structural walls, roofs, utility lines serving multiple units, and common areas).
• Permitted uses: Units are restricted to specific commercial uses: business/professional offices, medical/dental, schools, museums, animal hospitals (with soundproofing), printing, wholesale labs, and public/institutional buildings. No residential use is allowed.
• Occupant approval: No unit may be occupied without prior written approval from the Board of Directors. The board must approve or disapprove within 30 days of a written request that includes the occupant's name, business address, three business references, and lender approval (if applicable). Failure to disapprove within 30 days constitutes approval.
• Leasing & rentals: The association has a right of first refusal to lease or purchase any unit before the owner can lease or sell to a third party. The owner must notify the association in writing of any bona fide offer, and the association has 10 days to exercise its option. No minimum lease term is specified in this declaration, but the right applies to leases as well as sales.
• Assessments: Annual assessments for common expenses are set by the board and paid in 12 equal installments (or as determined). Each unit owner is liable for a share based on percentages in Exhibit B. Delinquent assessments accrue 6% interest after 30 days and can be enforced by lien or lawsuit, with attorney's fees recoverable.
• Insurance: The association carries master casualty and liability insurance on the building, common elements, and personal property (excluding owner-owned items). Premiums are common expenses. Owners may obtain their own policies for personal property and liability, but must include a waiver of subrogation. Insurance proceeds are held by the association and distributed for repairs or to owners/mortgagees as detailed.
• Right of first refusal: The association has a right of first refusal to lease or purchase any commercial unit on the same terms as a bona fide offer received by the owner. The owner must provide written notice with a copy of the offer and a 5% earnest money deposit (for sales). The association must respond within 10 days, and the owner cannot close until 15 days after notice.
• Maintenance responsibilities: The association maintains structural elements, utility systems (excluding appliances/fixtures), and common areas. Unit owners maintain interior surfaces, all fixtures, and any plumbing or refrigeration installed at their request. Owners must not impair easements or make alterations to structural portions without board consent.

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.