Northsight Village III

Key facts from Northsight Village III's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

commercial mixed-use development (Section 10.1 (Permitted Uses))

Developer / declarant

Northsight, LLC, an Arizona limited liability company (Preamble and Section 13.9)

Assessments & dues

Not fixed; set by Declarant in its sole discretion based on budget and commercial reasonableness (Section 4.3)

Special assessments

Allowed for reconstruction, capital improvements, or extraordinary costs; must be commercially reasonable (Section 4.4)

Collections & liens

Assessment Lien attaches to parcel; can be foreclosed like a mortgage under Arizona law; subordinated to first mortgages (Sections 4.1, 4.7, 5.4, 5.6)

Reserves & fees

Budget includes reasonable reserves for contingencies and replacement of capital improvements (Section 7.1)

Leasing & rentals

Yes; Declarant approval not required for leases of all or part of Owner's parcel (Section 11.2(g) (last sentence))

Parking & vehicles

Non-exclusive, first-come-first-serve basis; Declarant controls with reasonable rules; no closure or segregation without consent (Sections 9.1 and 8.3)

Architectural approval

Yes; all improvements, modifications, changes in exterior design, color, grade must be approved in writing by Declarant (Section 11.1(a))

Signs & flags

Monument signs require City of Scottsdale approval and Declarant consent; other signs subject to Declarant approval under Section 11.1 (Section 10.4 and 11.1)

Insurance

Commercial general liability insurance covering all property on Owner's parcel; casualty/property damage insurance on a 'Special Risk' form for buildings; evidence furnished to Declarant upon request (Sections 7.2 and 11.2(d))

Use restrictions

Prohibited; includes rubbish, odors, loud noises, exterior speakers except security devices (Section 11.2(b))

Amendments

Written consent of Declarant and all Owners required; recorded certificate of amendment (Section 12.2)

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