Paiute Way Townhomes

Key facts from Paiute Way Townhomes's documents

Community type

Condominium (horizontal property regime) (Recitals (page 2) and Section 2 (page 6))

Developer / declarant

Elite Investments, an Arizona partnership (Opening paragraph (page 1) and Section 1)

Governing law

Title 33, Chapter 4.1 of the Arizona Revised Statutes (Recitals (page 2) and Section 1.1 (page )

Assessments & dues

$80.00 per month per Unit initially (Section 7.2 (page 15): 'maximum monthly )

Special assessments

Special assessments for capital improvements require 2/3 vote of each class of members attending a meeting with written notice 10-50 days in advance; quorum 50% initially, then 2/3 of that quorum at subsequent meeting. (Section 7.3 (pages 16-17))

Collections & liens

Unpaid assessments plus interest, late fee, costs, attorneys' fees constitute a lien on the Unit, subordinate to recorded first mortgage. Lien may be foreclosed as real property mortgages. (Section 7.2 (pages 14-15))

Reserves & fees

Association shall maintain adequate reserve for replacement of Common Elements. (Section 7 (page 13): 'The Association sh)

Pets

Yes, commonly accepted household pets. (Section 17 (page 33): 'Subject to the fo)

Leasing & rentals

Yes, but lease must be in writing, comply with Declaration, term at least 30 days, and a copy delivered to Association prior to commencement. (Section 17 (page 32-33))

Parking & vehicles

Parking Spaces are part of Common Elements; Board has full authority to establish, operate, and manage them; use subject to Board rules. (Section 6 (page 12))

Architectural approval

Yes, for any exterior structure, addition, change, or alteration (including landscaping) visible from exterior; plans must be submitted to Board or architectural committee for approval. (Section 18 (page 36))

Home business

Not prohibited; permits personal and professional library and keeping personal business records. (Section 17 (page 32): 'The foregoing res)

Signs & flags

Only a dignified name/address sign allowed on Unit. No For Sale/For Rent signs except a master sign by the Board. Declarant exempt until last Unit sold. (Section 17 (page 34))

Maintenance

Association shall repair promptly all roof leaks or other damage to roofs, except damage due to owner's willful or negligent act. (Section 21 (page 37))

Insurance

Any insurance policy may contain deductible provisions as the Association deems consistent with good business practice. (Section 9 (page 19))

Use restrictions

No part of Property shall be used other than as a dwelling, except Declarant's sales offices and model units. (Section 17 (page 32): 'No part of the Pr)

Voting & meetings

Class A: one vote per Unit (owners other than Declarant). Class B: Declarant gets three votes per Unit owned. (Section 4.1 (pages 9-10))

Amendments

During first 20 years, amendment requires signature of Owners of 5/6 of undivided interest in Common Elements; thereafter 2/3. Certain changes require consent of 2/3 of Eligible Mortgage Holders. Consent of Veterans Administration needed wh (Section 25 (pages 40-41))

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