Golden Keys Subdivision

Key facts from Golden Keys Subdivision's documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Golden Keys Homeowners Association, Inc.

Units / lots

184 (Article IX Section 4 (prorated equally a)

Governing law

U.S. Housing for Older Persons Act of 1995 (Title Page; Article II)

Age restriction

Qualified under Housing for Older Persons Act; at least one resident per Lot 55+; all residents 18+; no person under 18 more than 45 days per calendar year unless Board exception (Article II (a)-(d))

Assessments & dues

$385 for fiscal year 2002-2003 (May 1, 2002 to April 30, 2003) (Article V Section 6)

Special assessments

For capital improvements; requires majority vote of Members at a meeting with quorum per Section 8 (Article V Section 7)

Collections & liens

Unpaid assessment plus interest, late fees, penalties, costs, attorney's fees become a lien on the Lot; may foreclose like a mortgage; power of sale granted (Article V Sections 3, 11)

Reserves & fees

Association may establish reserve fund for periodic maintenance, repair, replacement of Common Area improvements; funded from regular assessments (Article V Section 14)

Pets

Yes, limited (Article XI Section 2)

Leasing & rentals

Yes, with restrictions; total leased Lots capped at 5% of total Lots (Article III Section 5)

Parking & vehicles

Must comply with City of Scottsdale regulations (Article XI Section 12(e))

Architectural approval

Yes, for all exterior construction, additions, alterations, fences, walls, paint colors; plans submitted to Architectural Standards Committee (Article VI and Article XI Sections 13, 1)

Home business

Permitted if not detectable from outside, conforms to zoning, no visitor traffic, no solicitation, consistent with residential character, no signs on Common Area; child care considered business (Article XI Section 1(a)-(g))

Insurance

Owner of Lot incurring damage responsible for paying deductible (Article IX Section 1(a))

Use restrictions

All Lots used exclusively for single family residential use; no trade or business except limited home business with conditions (Article XI Section 1)

Voting & meetings

One vote per Lot owned; voting may be suspended for non-payment or delinquency over 30 days (Article IV Sections 4 and 5)

Amendments

Requires written consent of Owners representing at least 67% of the votes; any amendment must be recorded; termination of planned unit development also requires 67% vote. Certification states 75% approval for this amendment. (Article XIV Section 4)

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