Surprise Medical & Professional

Key facts from Surprise Medical & Professional's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Commercial office planned community (non-residential; can convert to condominium) (Recitals, Art. IV use restrictions, Art.)

Developer / declarant

MV Reems Investments, L.L.C., an Arizona limited liability company (Opening paragraph, Art. I 1.2(n))

Governing law

Arizona Condominium Act, A.R.S. §33-1201 et seq. (used for interpretation, project not yet a condominium) (Recitals, Art. I 1.1, 1.2)

Assessments & dues

Board adopts budget at least 30 days before fiscal year; total estimated Common Expenses (except those assessed to specific owners) divided among offices according to Common Expense Liability (Section 2.6). Board may increase mid-year if fu (Art. VII 7.1, 7.2(a))

Special assessments

Requires approval of Office Owners representing two-thirds of votes in person or by proxy at a duly called meeting (exception for damage/destruction under Section 9.1). Due 30 days after levy unless otherwise specified. (Art. VII 7.3)

Collections & liens

All assessments, penalties, and fees are secured by an Assessment Lien as under the Condominium Act. Recording of Declaration perfects lien. Lien may be foreclosed like a realty mortgage; Association may bid at sale. Lien has priority excep (Art. VII 7.5(b), (c), (e))

Reserves & fees

Required effective first day of fiscal year following 1 year after final Certificate of Occupancy. Board determines reasonable amounts; deposited in separate Reserve Account. Reserve study required at least every three years after end of De (Art. VII 7.11)

Leasing & rentals

Yes; Lessee is defined. Office Owner may lease. (Art. I 1.2(x), Art. III 3.3(b))

Parking & vehicles

Parking Area and Parking Spaces shown on Survey. Some parking may be Limited Common Elements. Association may adopt parking rules (Section 3.3(a)(i)). Declarant may reserve unallocated spaces for marketing. (Art. I 1.2(ee), (ff); Art. III 3.3(a)(i))

Architectural approval

Nonstructural additions within Office do not require approval; structural additions require prior written approval of Board of Directors and certification by licensed architect/engineer (Section 4.2(a))

Signs & flags

Board establishes rules for signs providing reasonable identification; rules must be consistent for all owners. 'For Sale' and 'For Rent' signs also addressed by rules. (Art. IV 4.5)

Maintenance

Cost of maintenance, repair, replacement of roof is a Common Expense borne by Association (Section 1.2(j)(i) — "including specifica)

Insurance

Association maintains: (i) property insurance on entire Project (excluding owner improvements/personal property) at 100% replacement cost; (ii) general liability insurance of at least $3,000,000 per occurrence/$3,000,000 aggregate; (iii) wo (Section 8.1(a))

Use restrictions

Offices shall be used exclusively for commercial office use; residential use specifically excluded (Section 4.1)

Voting & meetings

One vote per square foot of office; total votes equal total square footage of all offices. (Art. II 2.7)

Amendments

Limited Common Elements may be reallocated by amendment executed by affected owners, submitted to Board, recorded if not found unreasonable within 30 days. Boundaries between Offices may be reallocated similarly. Declarant may allocate unal (Sections 2.8(c),(d), 2.9)

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