Olde Towne Square Condominiums

What Olde Towne Square Condominiums's governing documents say

This is the governing document for Olde Towne Square Condominiums in Tempe, AZ — a commercial condominium with 5 units. The community is restricted to commercial office, professional services, or retail use only; no residential use is allowed. Unit owners share common elements and are bound by an architectural historic facade easement and a parking agreement with the City of Tempe.

• Permitted use of units: All units must be used exclusively as commercial offices, offices for professional services, or retail space. Residential use is strictly prohibited. A list of prohibited uses includes bars (unless over 50% food service), video arcades, massage parlors (unless part of a day spa), pornography, funeral homes, and others.
• What you own & maintain: You own the interior of your unit, including the exterior surfaces (walls, roof, windows, doors) and any attached porches/patios. The association maintains common elements (walkways, landscaping, lighting, private drives) and is responsible for certain utilities and trash. Unit owners must maintain their own units and limited common elements (e.g., meters serving only their unit).
• Assessments & fees: Each unit pays 20% of common expenses (equal share among 5 units). Assessments are set by the board, and special assessments require a 2/3 vote. There is also a reserve contribution and a transfer fee payable upon purchase (except from Declarant). Delinquent assessments bear interest and late fees and are secured by an assessment lien.
• Architectural restrictions & alterations: All modifications must comply with the Architectural Historic Facade Easement (city of Tempe). Nonstructural interior changes generally don't need board approval, but any exterior alteration or structural change requires prior written board approval. The board may impose conditions, require permits, and stop non-compliant work.
• Leasing & rentals: Unit owners may lease their units, but must provide the association with lease term, tenant names, and emergency contact at least 10 days before move-in. The lease must acknowledge the declaration and rules. Owners remain liable for tenant violations. No minimum lease term is stated in this document.
• Parking & vehicles: Parking rights are governed by a separate Parking Agreement with the City of Tempe (attached as Exhibit C). No unit includes a specific parking space. No vehicle repairs, inoperable vehicles, or recreational vehicles (boats, trailers, campers) are allowed on the property. The board may tow violating vehicles.
• Pets & animals: No animals, birds, reptiles, or livestock are allowed except fish in aquariums and animals kept by a veterinarian as part of their practice (if zoning allows).
• Signs & exterior appearance: No signs visible from the exterior are allowed without board approval. The board may permit identifying signs for owners/tenants subject to size, color, and location criteria, and must comply with the historic facade easement and city ordinances.

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.