This declaration is used when a unit operator desires to supplement and amend a Declaration of Pooled Unit to include in the unit the oil, gas and mineral leases described in Exhibit A to this Supplement, covering lands within the confines of the Unit Area.
The Arizona Supplemental Declaration of Pooled Unit is a legally binding document that outlines the rights and obligations of property owners in a condominium or planned community development. This declaration is an essential component of property management in Arizona and provides a framework for the governance and operation of the community. The purpose of the Arizona Supplemental Declaration of Pooled Unit is to establish the boundaries and common areas of the community. It delineates the units or lots that are a part of the condominium or planned community and specifies the undivided interest or percentage of ownership allocated to each unit. This declaration also defines the common elements and facilities, such as parking areas, recreational spaces, and amenities, that are shared by all property owners within the community. Furthermore, the Arizona Supplemental Declaration of Pooled Unit outlines the rights and responsibilities of property owners. It may include provisions related to the use and maintenance of common areas, architectural guidelines for individual units, payment of assessments and dues, restrictions on modifications or alterations to units, and the establishment of a homeowner's association (HOA) to manage the community. Depending on the specific development and its unique characteristics, there may be different types of Arizona Supplemental Declarations of Pooled Unit. For example, some declarations may be tailored to condominium complexes, while others may be applicable to planned communities or mixed-use developments. Additionally, the declaration could differ based on whether the community is residential, commercial, or a combination of both. It is important for property owners to carefully review and understand the Arizona Supplemental Declaration of Pooled Unit before purchasing a unit within a condominium or planned community. This document governs the rights and responsibilities of all property owners and plays a crucial role in ensuring harmonious living and well-maintained common areas.
