Village at Grovers

Key facts from Village at Grovers's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Assessments & dues

Board prepares pro forma budget at least 60 days before fiscal year; determines Regular Assessment amount and notifies Owners (Section 5.3.2)

Special assessments

Allowed for special benefits, compliance costs, fines, or other charges designated in Property Documents (Section 5.4)

Collections & liens

Unpaid assessments create a continuing lien on the Lot; may be foreclosed like realty mortgages or deeds of trust in Arizona (Sections 5.1, 5.16)

Reserves & fees

Board may prepare reserve budget; contributions to reserves are part of Regular Assessment; reserves held in trust separate account; also initial contribution on transfer (Section 5.13)

Insurance

Association maintains property insurance (special form, full replacement cost), commercial general liability (min $1M per occurrence), fidelity, workers compensation, directors and officers liability (Section 6.3)

Voting & meetings

One membership per Lot, one vote per Lot; if multiple owners, must designate one individual to vote; no vote if no designation; voting rights suspended during assessment delinquency; mortgagee may pledge voting rights (Sections 2.2, 2.3, 2.4)

Amendments

Certain amendments require Owner approval (e.g., Sections 5.3.4, 5.5, 7.3, 16.4); otherwise Declarant may control amendments until Transition Date; specific percentages not given in excerpt (Section 2.16 references referendums; Sec)

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