Monterra Scottsdale Residences

Key facts from Monterra Scottsdale Residences's documents

Community type

Condominium (Title, Section 1.13)

Legal name

Monterra Scottsdale Residences Condominium Association, Inc. (Section 1.06)

Units / lots

128 (Section 1.18 (Fractional Interest of 1/1)

Developer / declarant

Park Scottsdale Holdings, LLC, an Arizona limited liability company (Background A, Section 1.15)

Governing law

Arizona Condominium Act (A.R.S. §§ 33-1201 through 33-1270) (Section 1.01)

Assessments & dues

Board of Directors adopts annual budget; assessment per Unit = aggregate annual operating cost × Assessment Factor (Exhibit D). (Section 4.03, Section 4.06(a))

Reserves & fees

Annual assessment includes a reserve fund for taxes, insurance, insurance deductibles, maintenance, repairs, replacements of Common Elements and other improvements for which Association is responsible. (Section 4.02(b))

Insurance

Each Owner must carry all-risk casualty insurance on the Unit and any Limited Common Elements; also comprehensive personal liability insurance on use of Unit and Limited Common Elements. (Section 6.02(d))

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