Arizona Lofts Condominium

Key facts from Arizona Lofts Condominium's documents

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

Community type

Condominium (Paragraph 1)

Legal name

Arizona Lofts Condominium Association, Inc. (Paragraph 2(f))

Units / lots

115 (Paragraph 4)

Developer / declarant

Arizona Partners, L.L.C., a Georgia limited liability company (First page and Paragraph 2(n))

Governing law

Georgia Condominium Act, O.C.G.A. § 44-3-70, et seq. (Paragraph 1 and 2(a))

Assessments & dues

Board prepares budget at least 21 days prior to annual meeting; assessment becomes effective unless disapproved by majority vote at annual meeting (Paragraph 10(d))

Special assessments

Board may levy special assessment; if average total special assessments per fiscal year exceeds $200 per Unit, must be approved by majority of total Association vote (Paragraph 10(e))

Collections & liens

Assessments are a continuing lien on the Unit; personal obligation of Owner; priority as provided in Act (Paragraph 10(b))

Reserves & fees

Board shall annually prepare capital reserve budget and set required contribution (Paragraph 10(f))

Leasing & rentals

Yes (implied by section on Leasing in Table of Contents and definition of Occupant) (Paragraph 2(w) and Table of Contents)

Architectural approval

Yes, for any encroachment onto Common Elements, exterior change, alteration, construction, including painting, landscaping, signs, etc. (Paragraph 13(a) and (b))

Home business

Permitted in Residential Units if not apparent by sight/sound/smell, no excessive traffic, legal, consistent with residential character, etc. (Paragraph 14(a)(i)(a)-(g))

Maintenance

Common Elements (Association responsible) (Paragraph 5)

Insurance

Deductible apportioned among affected parties; no Owner assigned more than $1,000 per occurrence (Paragraph 11(i))

Use restrictions

Residential Units shall be used for residential purposes only, subject to ancillary business activity exceptions (Paragraph 14(a)(i))

Voting & meetings

One equally weighted vote per Unit (Paragraph 7)

Amendments

Refer to Paragraph 22 (not in excerpt) (Table of Contents)

Amenities

Swimming pool, fitness facility, cabana, courtyard, limited access gated entry system (Paragraph 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.