Dayspring Maryland Garden Office Condominiums

Key facts from Dayspring Maryland Garden Office Condominiums's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 1 Definitions; 4.1 Use Restricti)

Developer / declarant

Dayspring Maryland Garden Offices, LLC, a Delaware limited liability company (First paragraph; Section 1.2(o))

Governing law

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

Assessments & dues

Board of Directors adopts budget at least 60 days before fiscal year. Common Expense Assessments are levied in proportion to each Unit's Common Expense Liability (equal 1/4 share). Board may increase assessments during fiscal year if funds (Section 7.1, 7.2(a))

Special assessments

May be levied by unanimous approval of Board of Directors for capital improvements or any lawful Association purpose. (Section 7.3)

Collections & liens

All assessments, penalties, and charges secured by Assessment Lien per Condominium Act. Association may foreclose lien like a realty mortgage, or bring personal action against unit owner. (Section 7.4(b)(c))

Reserves & fees

Budget includes amounts for general operating reserves, contingencies, and replacements. Surplus funds may be returned to unit owners, credited, or added to capital reserve fund. (Section 7.1(a)(iv); 7.9)

Leasing & rentals

Leasing permitted but must be in writing; lease must be subject to Condominium Documents. Unit Owner must notify Association of lease dates and lessee names. (Section 4.17)

Parking & vehicles

Parking spaces are part of Common Elements. Handicapped and Public Parking Spaces are General Common Elements. No inoperable vehicles; no repair except emergency; parking only in designated areas. Association may tow violators at owner's ex (Section 2.9; Section 4.10; Section 4.11)

Architectural approval

Structural additions, alterations, or improvements require prior written Board approval and certification by a licensed architect or engineer. Nonstructural alterations visible from exterior require Board approval; Association may establish (Section 4.4)

Maintenance

Roofs are Limited Common Elements allocated to Units in the Building. Maintenance, repair, replacement performed by Association, costs allocated as Common Expenses to all Units. (Section 2.8(x); Section 5.4)

Use restrictions

Condominium restricted to nonresidential, professional office uses. (Section 4.1)

Voting & meetings

Total votes in Association = 100. Each Unit allocated one vote for each one percent of its percentage interest in the Common Elements. Each Unit's percentage interest is 1/4 (25%) per Section 2.6, so each Unit gets 25 votes. (Section 2.7; Section 2.6)

Amendments

Declaration (including Plat) may be amended by vote of Unit Owners representing at least 2/3 of votes in Association. Unanimous consent required for amendments that increase number of Units, change boundaries, change allocated interests, or (Section 10.5)

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