University Park Lane

What University Park Lane's governing documents say

University Park Lane is a condominium community in Tempe, AZ — but it is a commercial/office condominium, not residential. You would own a unit intended for professional or office use, and the association maintains common elements. Residential living is prohibited.

• Use restriction (professional/office only): All units are restricted to professional suite/office use. No residential use is permitted anywhere in the project.
• What you own & maintain: You own the interior of your unit (walls, floors, ceilings, fixtures, and HVAC). The association maintains all common elements (exteriors, roofs, landscaping, parking areas, etc.) and limited common elements (like assigned parking spaces) are your responsibility to keep clean.
• Architectural review: Any exterior alterations, additions, or changes (including signs, paint color, fences, etc.) require prior written approval from the Board of Directors. Plans must be submitted, and the Board has 30 days to respond (with possible 30-day extension). If no response within that time, approval is deemed granted.
• Assessments & fees: Annual assessments are levied on all units based on their undivided interest in common elements. Special assessments require a 60% vote of all unit owners. Delinquent assessments incur 18% annual interest and a 5% late fee. The association has a lien on your unit for unpaid assessments.
• Insurance: The association maintains master property and liability insurance covering common elements (minimum $1M per occurrence, $2M umbrella). You must insure your own unit's fixtures, improvements, and personal property. The association may assess deductibles to the responsible owner.
• Parking & vehicles: Parking is limited to designated spaces (limited common elements). No on-street parking is allowed in ordinary use. The Board may prohibit vehicles that are unsightly or create noise. All driveways must be paved, and parking structures require design approval.

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.