Terrace Walk

Key facts from Terrace Walk's documents

Reflects the 1985 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (Article I, Section 2: Association (Terra)

Units / lots

534 (Page 1, Lots 1 through 534 inclusive)

Developer / declarant

A-M COMPANY, a California limited partnership doing business in Arizona as A-M COMMUNITY DEVELOPERS (Page 1, beginning)

Assessments & dues

First year maximum $357 per Lot; thereafter automatically adjusted by CPI (Urban Wage Earners). Board may fix amount not exceeding maximum. (Article III, Section 3)

Special assessments

May be levied for capital improvements, unexpected expenses, or taxes assessed against Common Area. Requires affirmative vote of Declarant (while Class B exists) and 2/3 of Class A. (Article III, Section 4)

Collections & liens

Assessment lien on Lot, superior except taxes and first mortgage. Foreclosure allowed after 30 days delinquency, with sale similar to realty mortgage or deed of trust. Proceeds applied to costs, fees, unpaid assessments, then to Owner. Asso (Article III, Sections 1, 9)

Reserves & fees

Annual assessments shall include an adequate reserve fund for taxes, insurance, maintenance, repairs, and replacement of Common Area and other improvements Association is responsible for maintaining. (Article III, Section 2)

Pets

Customary household pets (dogs, cats, household birds) allowed, but not to create a nuisance or disturb health/safety/welfare/quiet enjoyment. (Article V, Section 3)

Leasing & rentals

Not explicitly; but Owner may delegate common area use rights to tenants (Section 2 of Common Area definition). No specific leasing prohibition. Implied allowed. (Page 2, Common Area delegation; Article )

Parking & vehicles

No abandoned or inoperative vehicles; no dismantling or accumulating of vehicles. No commercial vehicle, camper, boat, trailer, mobile home, or recreational vehicle may be parked in front of a Lot or in front driveway where visible from str (Article V, Section 11)

Fences

Max height 6 feet for side/rear fences. Must be cement block construction unless approved. Colors selected by Developer with ARC approval and cannot be changed without approval. Fences must be completed within 3 months of start. If damaged, (Article VI, Sections 1, 2)

Architectural approval

Yes for any building, improvement, fence, wall, antenna, landscaping, grade change, exterior color change. Approval also required for solar collectors and window cover materials. (Article VII, Section 2; Article V, Secti)

Solar & roof

Solar collectors and related equipment may be installed on roofs with prior written ARC approval. ARC may adopt guidelines on types and installation. (Article V, Section 7)

Home business

Not allowed; no business of any kind conducted in or from any Lot. (Article V, Section 4)

Signs & flags

No signs of commercial nature; only one 'For Rent' or one 'For Sale' sign per Lot, max 5 sq ft. No signs on Common Area except as provided in Bylaws (subarticles 3.3 and 5.1). Declarant/Developers may place temporary signs during constructi (Article V, Section 4)

Setbacks / home size

Minimum 800 square feet ground floor area, exclusive of open porches, ramadas, patios, balconies, pergolas, carports, detached garage or attached garage. (Article V, Section 6)

Use restrictions

All Lots shall be used for single-family residential purposes only; no business uses permitted except as stated. (Article V, Section 1)

Voting & meetings

Two classes: Class A (each Lot Owner other than Declarant) 1 vote per Lot; Class B (Declarant) 3 votes per Lot owned. Class B converts to Class A when Class A votes equal tripled Class B votes or 7th anniversary of first escrow close. (Article II, Section 4)

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