26th Street Townhomes

Key facts from 26th Street Townhomes's documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 2.2)

Governing law

Arizona Condominium Act, A.R.S. Section 33-1201, et seq. (Section 1.1, 1.1(l))

Assessments & dues

Board adopts annual budget; assessments allocated equally per Unit (1/9th of Common Expenses) (Sections 7.1(a), 7.2(a), 2.6)

Special assessments

Requires approval of two-thirds (2/3) of votes in Association voting in person or by proxy at a meeting (Section 7.2(e))

Collections & liens

Assessment Lien secures unpaid assessments; Association may foreclose lien; lien subordinate to First Mortgage; foreclosure of First Mortgage extinguishes prior unpaid assessments (Sections 7.4(b), 7.4(c), 7.5)

Reserves & fees

Budget includes operating reserves and reserves for contingencies and replacements (Section 7.1(a)(iv))

Pets

Yes, Permitted Pets allowed (Section 4.7)

Leasing & rentals

Yes, Units may be leased (Section 4.18 (implied by lease provision)

Parking & vehicles

Declarant may restrict parking spaces during sales period; Board may tow vehicles parked in violation (Sections 3.4(c), 4.15)

Architectural approval

Yes, for structural additions/alterations/improvements, exterior-visible changes, and any Common Element changes; written approval of Board required (Sections 4.4, 4.5)

Home business

Business activity allowed if not apparent/detectable from outside, no visitors/solicitation, consistent with residential character, not a nuisance; leasing not considered a business (Section 4.1)

Signs & flags

No signs except name/address sign not exceeding 9x30 inches and one 'for sale' or 'for rent' sign not exceeding 24x30 inches, with prior written Board approval; no signs in Common Area without approval (Section 4.15)

Maintenance

Association maintains Common Elements; Unit Owners maintain their Units at own expense (Sections 5.1, 5.2)

Insurance

Property insurance on Common Elements and Units (100% replacement cost), broad form comprehensive liability insurance, workers' compensation, directors and officers liability, flood insurance if applicable (Section 8.1(a))

Use restrictions

All Units shall be used and devoted exclusively to residential use by a Single Family (Section 4.1)

Voting & meetings

One vote per Unit; total votes equal number of Units (Section 2.7)

Amendments

Declaration may be amended by vote of Unit Owners with at least 66% of votes; certain amendments require consent of Eligible Mortgage Holders (51% or 66% depending on subject); Declarant may amend during Declarant Control for compliance/cor (Sections 10.5, 9.2)

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