Fulton Ranch Towne Center

What Fulton Ranch Towne Center's governing documents say

This is a commercial property governing document for Fulton Ranch Towne Center in Chandler, AZ — a shopping center development. It binds the owners of individual commercial tracts (retail buildings) and covers shared maintenance, cost-sharing, and easements for access, parking, and utilities. It is not a residential homeowners' association or condominium document.

• Who is governed: The rules apply to owners of commercial tracts within the shopping center — typically retail/restaurant businesses — not to residential tenants or homeowners.
• Common area maintenance: Declarant (initially the developer) acts as agent to maintain and repair common areas (parking, sidewalks, landscaping, lighting, signage, etc.) to a standard comparable to high-quality commercial developments in the Phoenix metro area. Owners pay their pro rata share of expenses plus a 15% administrative fee.
• Cost sharing & assessments: Each owner's share of common area maintenance costs is based on the land area of their tract relative to the total. Monthly payments are due; over/under amounts reconciled annually. Late payments accrue interest (prime + 3%) and can become a lien on the tract.
• Easements for access, parking & utilities: All owners and their customers/employees have non-exclusive perpetual easements over driveways, parking areas, and sidewalks. The developer also reserves easements for signs and utilities across common areas.
• Default and enforcement: Failure to pay within 10 days or to comply with other covenants within 30 days is a default. Non-defaulting owners may cure and bill the defaulting owner plus 15% administrative fee. A lien can be recorded and foreclosed after 90 days' notice, but is subordinate to institutional mortgages.
• Term and amendment: The declaration runs for 50 years and can be renewed for successive 10-year periods by a majority of owners. During the first 3 years, the developer can amend without other owners' consent, but cannot materially impair existing rights. After that, amendments require developer (if still acting) plus majority of owners.

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.