Grandview Terrace Condominium

Key facts from Grandview Terrace Condominium's documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Leasehold Condominium (Section 2.1)

Units / lots

290 (Section 3.6 (1/290th) and Section 1.2.32)

Developer / declarant

Grandview Terrace Limited Partnership (Section 1.2.15)

Governing law

Arizona Condominium Act, A.R.S. § 33-1201 et seq. (Section 1.1)

Assessments & dues

Board of Directors adopts budget; common expense assessment is each unit's proportional share of estimated common expenses, in sole discretion of Board (Section 8.1.1, 8.2.1)

Special assessments

Requires approval by two-thirds (2/3) of votes in Association voting in person or by proxy at a meeting (Section 8.3)

Collections & liens

Assessment Lien secures unpaid assessments; Association may foreclose by action similar to mortgage foreclosure; may bid at sale (Section 8.4.2, 8.4.3)

Reserves & fees

Budget shall include reserves for contingencies and replacements (Section 8.1.1)

Pets

No animals, birds, fowl, poultry, livestock or pets of any kind except as approved by rules adopted by Board in its sole discretion (Section 5.7)

Leasing & rentals

No leasing or subletting of unit in whole or in part (Section 5.17)

Parking & vehicles

Each unit allocated one uncovered parking space (Limited Common Element). Additional parking may be leased from Owner. (Section 3.8.1(ii), 3.10)

Architectural approval

Prior written approval of Board for any structural or nonstructural additions, alterations, improvements within unit; also for any visible change from exterior (Section 5.4)

Home business

Allowed if not detectable, conforms to zoning, no non-resident persons coming to unit, no door-to-door solicitation, consistent with residential character (Section 5.1)

Signs & flags

No signs on exterior without prior written approval of Board (Section 5.13)

Maintenance

Association maintains, repairs, replaces all Common Elements. Unit Owner maintains his Unit and Limited Common Elements (including windows). Owner may contract with Owner for services. (Section 6.1.1, 6.2.1, 6.2.2, 6.2.3)

Insurance

Property insurance on Common Elements and Units (exclusive of improvements installed by Unit Owners) at full replacement cost; general liability $1,000,000 minimum; workers comp; D&O liability (Section 9.1.1)

Use restrictions

Units used exclusively for residential use by a Single Family (Section 5.1)

Voting & meetings

Residential units: 1 vote each; Commercial units: 145 votes each (Section 3.7)

Amendments

Generally requires 67% vote of Unit Owners; certain changes (increase number of units, change boundaries, allocated interests, use restrictions) require unanimous consent; Declarant may amend during control period to comply with law, correc (Section 13.5)

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