Cornerstone Villas Condominiums

Key facts from Cornerstone Villas Condominiums's documents

Reflects the 2000 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Heading and Article 2.0 submission to a )

Legal name

Cornerstone Villas Condominiums

Developer / declarant

Gallery Homes, Inc. (Page 1: 'by GALLERY HOMES, INC. (the Dec)

Governing law

Arizona Condominium Act, A.R.S. §33-1201 et seq. (Article 1.0, page 1)

Assessments & dues

Maximum $1,500 per Unit until January 1 following first conveyance to a Purchaser (Section 7.1(B)(i), page 23)

Special assessments

Approved by Unit Owners representing 2/3 of votes; due 30 days after levy unless otherwise specified (Section 7.2, page 24)

Collections & liens

Assessment Lien secured by Condominium Act; recording of Declaration constitutes notice; foreclosure in manner of realty mortgage; subordinate to First Mortgage (Sections 7.5 and 7.6, pages 25-26)

Reserves & fees

Budget includes amounts for general operating reserves and reserves for contingencies and replacements (Section 7.0(A)(iv), page 22)

Pets

Yes, single house pet not exceeding 20 pounds; only Unit Owners may have pets (no lessees or invitees); must be inoculated and registered with Association (Section 4.6, page 17)

Leasing & rentals

Yes, but cannot lease less than entire Unit; leases must be in writing and subject to Condominium Documents (Section 4.18, page 19)

Architectural approval

Prior written approval of Architectural Committee required for structural additions/alterations inside Unit, and for any addition visible from exterior, including window coverings and solar/antenna devices (Sections 4.3 and 4.17, pages 16 and 19)

Home business

Prohibited generally; limited allowance for personal professional library, business accounts, calls, correspondence (Section 4.0, page 15-16)

Maintenance

Roof is part of Common Elements (Section 2.1(A)), thus Association maintains (Section 2.1(A) and 5.0, pages 8 and 20)

Use restrictions

Units and Limited Common Elements used exclusively for residential use by a Single Family (Section 4.0, page 15)

Voting & meetings

Each Unit has one vote; votes allocated equally among all Units (Section 2.3: 'allocated equally among al)

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