Email-based, real estate fraud schemes are on the rise. One common scenario is altering wiring instructions with the intention of rerouting funds.
Keeping this in mind, First American Title is changing the way we receive payment information. It is imperative that we are familiar with the people in our transactions.
RELYING ON EMAIL ALONE IS NO LONGER AN OPTION.
Fraudsters often use email to send falsified wire instructions to unsuspecting victims. Please warn your buyers and sellers to only follow wire instructions they receive personally from First American Title.
Additionally, we will not accept disbursement instructions for seller or buyer funds via email OR from any third party (attorney, real estate agent, etc).
ALTERNATIVE INSTRUCTIONS?
If your buyer or seller receives alternative wiring instructions that appear to be from First American Title, make sure they contact their escrow officer at a trusted phone number for confirmation.
Know that our wiring instructions do not change so any communication is suspect. Our banking institution is First American Trust.
IN SHORT – wire instructions will not be accepted by email. New wire instructions must be hand-carried or uploaded to the First American Secure Portal.
Thank you for joining First American Title in fostering a secure real estate transaction process. Have questions or concerns? Please contact our office or your escrow officer.
LIMITATION OF LIABILITY FOR INFORMATIONAL REPORTS
IMPORTANT -- PLEASE READ CAREFULLY:
This report is not an insured product or service or a representation of the condition of title to real property. It is not an abstract, legal opinion, opinion of title, title insurance commitment or preliminary report, or any form of Title Insurance or Guaranty. This report is issued exclusively for the benefit of the Applicant therefor and may not be used or relied upon by any other person. This report may not be reproduced in any manner without First Americans prior written consent. First American does not represent or warrant that the information herein is complete or free from error, and the information herein is provided without any warranties of any kind, as-is, and with all faults. As a material part of the consideration given in exchange for the issuance of this report, recipient agrees that First Americans sole liability for any loss or damage caused by an error or omission due to inaccurate information or negligence in preparing this report shall be limited to the fee charged for the report. Recipient accepts this report with this limitation and agrees that First American would not have issued this report but for the limitation of liability described above. First American makes no representation or warranty as to the legality or propriety of recipient's use of the information herein.
Subject Property
975 N Canyon Moonlight Pl Tucson AZ 85745 APN: 116-09-2090
Provided
Disclaimer
This REiSource report is provided "as is" without warranty of any kind, either express or implied, including without limitations any warrantees of merchantability or fitness for a particular purpose. There is no representation of warranty that this information is complete or free from error, and the provider does not assume, and expressly disclaims, any liability to any person or entity for loss or damage caused by errors or omissions in this REiSource report without a title insurance policy.
The information contained in the REiSource report is delivered from your Title Company, who reminds you that you have the right as a consumer to compare fees and serviced levels for Title, Escrow, and all other services associated with property ownership, and to select providers accordingly. Your home is the largest investment you will make in your lifetime and you should demand the very best.
Subject Property : 975 N Canyon Moonlight Pl Tucson AZ 85745
Owner Information
Owner Name : Elite Property Operations Llc
Mailing Address : 7670 E Broadway Blvd Ste 203, Tucson AZ 85710-3778 C047
Owner Occupied Indicator : A
Location Information
Legal Description : Beautiful Acres Final Plat Lot 4
County : Pima, Az
Census Tract / Block : 44.33 / 2
Township-Range- Sect : 14S-13E-8
Legal Book/Page : 48-18
Legal Lot : 4
Market Area : 21
Owner Transfer Information
Recording/Sale Date : 11/04/2024 / 11/03/2024
Document # : 3090387
Last Market Sale Information
Recording/Sale Date : 05/07/2024 / 04/26/2024
Sale Price : $675,000
Document # : 1280590
Deed Type : Warranty Deed
Title Company : Pioneer Title Agency
Seller Name : Alvarez Manuel A & Bethany
Prior Sale Information
Prior Rec/Sale Date : 02/06/2019 / 01/17/2019
Prior Sale Price : $470,000
Prior Doc Number : 370416
APN : 116-09-2090
Subdivision : Beautiful Acres
Map Reference : 08-14S-13E
School District : Tucson Unified
Munic/Township : Tucson Unified
Deed Type : Warranty Deed
1st Mtg Document # : 3090388
1st Mtg Amount/Type : $417,821 / Pp
1st Mtg Document # : 1280591
Price Per SqFt : $208.08
Prior Deed Type : Warranty Deed
Prior Lender : United Wholesale Mtg
Prior 1st Mtg Amt/Type : $446,500 / Conv
Customer Name : Kariann Keomaka Customer Company Name : First American Title Insurance Company Prepared On : 12/03/2025
Property Characteristics
Gross Area : 3,244
Living Area : 3,244 Roof Material : Tile
Total Rooms : 7 Heat Type : Forced Air
Year Built / Eff : 1999
# of Stories : 1
Cooling Type : Forced Air
Cond : Refrigeration
Excellent
Excellent
Exterior wall : Frame Wood Bath Fixtures : 11
Parking Type : Garage Patio Type : Covered Patio
Property Information
Information
Census Tract / block: 44.33 / 2 Year: 2020
Arizona Schools
PIMA COUNTY
SEARCH PARAMETERS
PARCEL: 116-09-2090
PARCEL: 116-09-2090
OWNER: ELITE PROPERTY OPERATIONS L AFFIDAVIT 2024 3090387 11/04/2024
SITUS: 975 N CANYON MOONLIGHT PL TUC
MAIL: 7670 E BROADWAY BLVD
PLAT: LOT 00004 BLOCK
LEGAL: BEAUTIFUL ACRES FINAL PLAT LOT 4
CURRENT TAXES INFORMATION THROUGH 11/28/2025
2024 1280590 WD ALVAREZ MANUEL A & BETHANY
02/06/2019
2019 370416 WD SIQUEIROS CHERYL L & SHAWN 03/04/2010
04/22/2003
13758 2425 WD EAGAR MARK A
12034 2789 WD LEYVES ALFRED/KIM
04/29/1998 71,500 10785 1811 D SYGALL DAVID L ADDITIONAL PROPERTY INFORMATION STANDARD LAND USE: SFR
END SEARCH
Covenants, Conditions & Restrictions
Thank you for the opportunity to be of service.
Restrictions indicating a preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status, or national origin are hereby deleted to the extent such restrictions violate 42 USC 3604(c).
This information is furnished without fee and without benefit of a complete title search. No liability is assumed by First American Title. If it is desired that liability be assumed, you may apply for a policy of title insurance with First American Title Insurance Company.
102119 NGW
DECLARATION OF ESTABLISHNENT OF OVENANTS. CONDITIORS AND RESTRICTIONS
THIS DECLARATION, made thlsdayofJun 1993 by LAURIE DEIBEL maried woman, dealing with her sole and separate propery, hereinafter referred to as Declarant. The property to be inicially affected by this Declaration is that property situated in the County of Pima, State of Arizona, and described as follows:
See Exhibit "A attached hereto and incorporated herein by tiis reference.
NOW THEREFORE, Declarant hereby declares that the Property is and shall be hcld, conveyed encumbered, leased and used subject to the following covenants, conditions, restrictions, uses, limitations, obligations, easements, equitable servitudes, charges and liens all of which cre for the purpose of enhancing and protecting the vahie, desirability and attractiveness of the Property. The covenants, conditions, restrictions, , limitations, obligations, easements and equitable servitudes, charges and liens set forth herein shall run with the Property; shallbe binding upon all persons having or acquiring any interests in the Property or any parnt thereof shall bureto the benefit of and be bindingupon Declarant, its successcrs in interest, each owner and his respective successors in interest, and may be enforced by Declarant or its successors in interest, by any owner or his raccessors in real interest or by any entity having an interest in their enforcement
ARTICLEI DEFINITIONS
Unless the context otherwise specifies or requires, the following words and phrases when uad herein shall have the meanings hereinafter assigned:
Secilon 1.01 Articler shall mean the Articies of Incorporation of the Assoclation and amcadments thereto which are, or shall be flled in the office of the Arizona Corporation Commission.
Sestion 1.02 Association" shall mean and refer to an Artzona corporation to be incorporated consistent with and referring to these Covenants, Conditions and Restrictions, its successors and assis
Section 1.03. "Board shall mean the Board of Directors ofthe Association
Section 1.04 Bylaws shall mean the Bylaws of the Association, together with any amendments thereto separate property.
Section 1.05. Declarant means LAURIE DEIBEL, a married woman, dealing with her sole and 9560 1150
thereto.
Section 1.06 "Declaration" or "Restrictions" shall mean this instrument and any amendments
Section 1.07. "Parcel shall describe any property owned or controlled by a single owner or joint owners on which more than one primary single family residence (including permitted related structures) could be constructed based on these restrictions. "Lof" shall generally describe the minimum parcel on which a primary single family residence (inciuding permitted related structures) could be constructed, based on these Restricsions, but said Lot shall not contain less than forty thousend (40,000) square feet
Section 1.08. "Member shall mean and refer to everyperson andr ertity who holds membership in the Association.
Section 1.09. "Owner(s)" or "Homeowner(s)" shall mean und refer to (1) the record owner, whether one or more persons or entities, of equitable or beneficial title (legal title if same has merged) of any parcel or lot as the case may be, or (2) the purchaser of a parcel or lot under an executory contract for the sale of real property. The foregoing does not include persons or entities who hold an interest in any parcel or lot merely as security for the performance of an obligation, or a lessee or tenant of any Owner as defined above.
Section 1.10. "Person" shall mean a natural individual or any entity with the legal right to hold title to real property.
Section 1.11. "The Rules" shall mean the rules and regulations governing the use of common property, including private roadways, adopted by the Board pursuant to the Bylaws.
Section 1.12 "The Property" shall mean all the real property described ns covered initially by these Restrictions and/or added with the consent of the initial owners as described in Article VI .
ARTICLE II GENFRAL RESTRICTIONS
All property within the subdivision shallbe held, sold, conveyed, encumbered, occupied, improved, used, and enjoyed subject to the following limitations, covenants, conditions, and restrictions.
Section 201. Antennas and Exterior Additions No exterior antennas or other devices for the transmission or reception of television or radio sigials shall be erected or maintained on any parcel or lot, to inchvde satellite dishes, except that television aerials or radio antennas, or the like, shall be allowed so lorg as such does not extend higher than eight (8) feet above rooflines. No unsightly antennas, such as those used by ham operators or for otherthan normal television and/or radio reception shall be erected on any residence or generally on the Subject Property. Satellite dishes will be allowed, but properly covered so that they are concealed from view by adjacent homeowners. The Association shall approve any satellite dish installation and cover.
Section 2.02 Signs. No signs of any kind shall be displayed which are visible from neighboring property without the approval of the Boant except:
A. Such signs as may be required by legal proceedings; and,
B. Such other signs as may be approved by the Board indicating a parcel or lot is for sale or lease. When the Board's approval is required, it shall approve the nature, composition, number, size and location of all signs, unless excepied hereunder.
Section 203. Animals. No animals of any kind shall be raised, bred, or kept, except that a reasonable number of generally recognized house or yard pets may be kept, provided that they are not kept, bred or maintained for any commercial purpose. All dogs must be kept under leash or controlled at all times so that they will not interfere with any other owner, and it shall be the responsibility of each pet owner to clean up after their pets. Upon the written request of an Owner, the Board shall conchusively determine, in its sole and absolute
discretion, whether, for the purpose of this Section, a particular animal is a generally recognized house or yard pet or a nuisance, or whether the number of animals is reasonable. "Hovse Pets or "Yard Pets" shall generally inchude smaller animals such as dogs and cats, but shall not inchude large animals such as horses.
Section 204. Nuisances, After completion ofconstruction on any parcel or lot and landscaping of lots, no rubbish or debris of any kind shall be placed or permitted to accumulate upon any property covered by these Restrictions, and no odors shall be permitted to arise therefrom so as to render ary such property or any portion thereof unsanitcry, unsightly, offensive, or detrimental to any other property in the vicinity thereof or to its occupants. No noise or other nuisance shall be permitted to exist or operate upon such property so as to be offensive or detrimental to any other property in the vicinity thereof or to its occupants. The Board in its sole discretion shall have the right to determine the existence of any such nuisance.
Section 2.05. Drainage. There shall be no interference with the established drainage pattern over any property covered by these Restrictions unless adequate provision is made for proper drainage conforming t0 County rules, regulations, ondinances, and dratnage criteria, and is approved by the Board For purposes hereof, established drainage is defined as the drainage which exists at the time ofthe recording of this Declaration, or which is shown on any plans conforming to County rules, regulations, ordinances, and drainage criteria approved by the Board.
Section 2.06 insightly Articles. No unsightly articles shall be permitted to remain soas to be visible from adjoining parcels or lois or from the street or public way. At no time shall there be any outside storage of boats, trailers, campers, motor coaches, mobile homes, house trailers, or recreational or commercial vehicles of any type on the Property except in such areas as may be designated by the Board. In the event an area is so designated for parking the Association shall not be liable for loss, injury or damage caused to or contributed by such vehicles for any reason whasever. At no time shall there be any ouiside storage of motor vehicles in stages of construction, reconstruction, modification orrebuilding, or parts of motor vehicles such as frames, bodies, engines or other parts or accessories. Any and all items stored in a garage area shall be stored so as to conceal the same from view from adjoining property or from the street or public ways. Grass, shrub or tree clippings and all clotheslines, machinery, storage piles, wood piles, garbage or trash containers shall be kept within an enclosed structure or appropriately screened from view of adjoining property or from streets or public ways except when necessary to make available for collection. For purposes of this Section, the shortest time reasonably necessary to effect such collection shall be that time after sunset on the night preceding the designated day for garbage or trash collection by the licensed or authorized collector. Such containers shall be returned to their concealed location reasonably soon after collection. The Board shall have sole discretion in determining if any activity by an owner is in violation of this Section 206
Section 2.07. Garbaze ard Trash. All rubbish, trash, or garbage shall be removed from the parcels and lots and shall not be allowed to accumulate thereon. No incinerators shall be allowed. The Board may specify the type, size and style of garbage or trash containers to be used
Section 2.08. Electrical Service and Telephone Lines. All electrical service and telephone lines shall beplaced underground andno outside electrical lines shall be placed overhead; provided that noprovisions hereof shall prohibit the erection of temporary power or telephone struchures incident to construction.
Section 2.09. Mail Baxes The Board may determine the location, color, size, design, lettering and all other particulars of all mailand paper delivery baxes and standards and brackets and name signs for same.
Section 210. Improvements and Alterations The native growth on the Property, including cacti mesquite and palo verde trees, shall not be removed or destroyed, except as may be necessary to construct building sites and subdivision improvements. No fences, hedges clotheslines, or walls shall be erected or maintained upon the Property except such as are installed in accordanw.e with the initial construction of buildings located thereon or as approved by the Board.
Section 211. Right ofInspection. During reasonable hours, any member of the Board, or any cuthorized representative of any ofthem shall have the right to enter upon and inspect any preperty covered by these
Restrictions (except the interior of residential structures), for the purpose of ascertaining whether or not the provisions of this Declaration have been or are being complied with, and such persons shall not be deemed guilty of trespass by reason of such entry.
Section 2.12 Violation of Law. No act shall be committed or maintained on any parcel or lot in violation of any law.
Section 2.13. Vegetation The native growth and planting shall not be destroyed or removed on any parcel or lot, except in connertion with construction of a residence or permitted structures unless written permission is first obtained from the Board.
ARTICLE PERMITTED USES, RESTRICTIONS AND RIGHTS - RESIDENTIAL STRUCTURES
Section 3.01. Private Residential Purposes, Residences shall be occupied and used by the respective Owners primarity for private single family residential use for the Homeowner, his family, tenants, and social guests; and to the extent a business activity is conducted from the residence, it shall not create any measurable increase of traffic nor other disturbance, and shall be limited to any business activity which can be conducied from the primary residential structure or a portion thereof or other permitted detached structures related to the private single family residential use.
Section 3.02 Renting. Owner shall have the right to lease or rent his primary residential structure; provided, however, that any lease agreement, verbal or written with a tenant or lessee shall provide that any such tenant shall abide by the Rules, Bylaws, Articles, andtheprovisions of this Declaration. In the event any such lease agreement does notcontain the provisions as described inthe preceding sentence, such lease agreement shall, at the option of the Board, be null and void.
tion 3.03. Minimum Lot for Construction of Primary Residence One singlefamity detached residence shall be allowed to be built on each lot, and each resident shall have a minimum ground floor living area of at least two thousand (2000) square feet, exchusive of covered porches, garages or carports and outbuildings (such as an approved guest house). No lot on which one single family detached residence is constructed shall contain less than forty thousand (40,000) square feet. No residence shall exceed two (2) stories in height, nor shall any dwelling be constricted for other than luse as a siniglefamily dwelling and the Architectural Committee shall be responsible for determining the appropriateness of any two (2) story structure, taking into account its affect on adjacent propery
Section 3.04. Architectural Control
ANo construction or alteration of any buikding wall, fence, coping, or other structure shall be commenced, erected, or maintained upon a lot or parcel, nor shall any exterior addition to, remodeling reconstruction, or change in, or alteration of a structure or the exterior color thereof be made until the plans, elevations, and specifications showing the nature, kind, shape, helght, materials, and location of the same, shall have been submitted to and approved in writing as to harmony of external design and location in relation to surrounding structures and topography by the Board, or by an architectural committee composed of three (3) or more representatives appointed by the Board. In the event the Board, or its designated committee, fails to approve or disapprove such design and location within thiny (30) days after said plans and specijications have been submitted to it, approval willnot be required andthe requirements ofthis Section will be deemed to have been met. Once begun, work is to be completed in a timely manner with regular process and not to exceed, exceptfor delays due to no fault of the owner, a period of nine (9) months.
B Neither the undersigned nor the Board or Architectural Committee shallbe responsible in any way for any defects in any plans or specifications submitted in accordance with the foregoing nor for any structural defects or any building or structure erected according to such plans or such specifications.
C. Any plans required tobe submitted by this Section shall inchude a plot plan showing the location on the property in question of the building wall, fence, coping or other structure proposed to be constructed or altered, together with the proposed color scheme thereof.
D Said Architectural Committee shallhave the right to approve any plans and specifications submitted to them as aforesaid. If such plans and specifications are not in accordance with all the provisions of this Declaration; or if, in the opinion of the Architectural Committee, the design or color scheme of the proposed building or other structure is notin harmony with the general surroundings, or if the plans and specifications are incomplete, the decision of the Architectural Committee shall be final. To the extent that an Architectural Committee is not appointed, then the Board shall be the responsible party for approval under this Section 3.0
E. Parcel or lot owners and members shall individually and collectively hold the Board ant the Architectural Commitee harmless from any actions undertaken within the scope of this Declaration and any and all actions arising from the Committee's duty as outlined in this Declaration.
ARTICLE I THE ASSOCIATION
A Association, The Association shall be a non-profit Arizona corporation charged with the duties and invested with the powers prescribed by Chapter 10, Article 5 of the Arzona Revised Statutes, and setforth in the Articles, Bylaws, and this Declaration.
B. Board of Directors and Officers The affairs of the Association shall be conducted by a Board of Directors and shall be conducted by a Board of Directors and such Officers-and committees as the Bond may elect or appoint, in accordance with the Articles and By-Laws, as same may be amended from tirs to time. The composition of the Board shall be defined in the Bylaws.
C Bylaws The Bylaws shall, among other things, establish the procedure for electinS members of the Board and officers of the Association,the duties ofthe Association, the procedure for regular and special meetings, and amendments to the Bylaws.
Section 4.02 Membership
A. Qualiicatlons. Each Owner of a parcel or lot, by virtue of being an Owner a.ad for so long as he is such Owner, shall be deemed a Member of the Association. The foregoing is not intended to inchude persons or entities who hold an interest in a parcel or lot merely as security for the performance of an obilgation No Owner shall have more than one membership for each lot or parcel owned.
Transier of Membershia Memberthin of each Owner in the Association shall-be appurtenant to the lot or parcel owned, and shall not be tranzferred, pledged, or alienated in any way except upon the transfer of ownership to said lot or parcel, and then only to the transferee thereof. Any attempt to make a prohibited transfer shall be void. Any transfer of ownership of a lot or parcel shall operate automatically to transfer said membership to the new Owner thereof.
CVoting Rights The Owner or Owners of each Lot shall allbe Members but shall be entitled collectively to one (1) vote to be cast as determined between the Members The Owner or Ownern of any parcel shallbe entitled to as many votes as there are potential separate single family residential lots of at least forty thousand (40,000) square feet. However, to the extent such parcel cannot be separated into individual lots for construction of private single family residential units (due to slope or other restrictions and limiting factors), then said parcel shallbe limited to the number ofvotes based upon the possible number of separate private single family residential units that could be constructed in accordance with these Restriction
ARTICLE V COVENANTS FOR ASSESSMENTS
Section 5.01. Creation of the Lien and Personal Obligation to Pay Assessments. Each Owner, by acceptance of a deed to any lot or parcel, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to the Association: (1) annaal assessments or charges, and (2) special assessments for road maintenance, if applicable, or other capital improvements, such assessments to be established and collected ashereinafter provided. The annual and special assessments, togetherwith interest, costs, and reasonable attorney's fees, shall be a charge on the lot or parcel and shall be a continuing lien upon the property against which each assessment is made. Delinquent assessments, together with interest, costs, and reasonable att mey's fees, shall also be the personal obligation of the person who was the Owner of such parcel or lot at the time when the assessment was levied. In the event the Board does not take action with respect to setting the annual assessment for any calendr year, then the assessment for the previous year shall continue in effect.
Section 5.02 Purpose of Assessments. The assessments levied by the Assoriation shall be used exclusively to promote the recreation, health, safety, and welfare of the Members and their guests, and for all purposes set forth in the Articles, Bylaws and this Declaration.
Section 5.03. Annual Assessment. At least thirty (30) days prior to the end of each calendar year (January 1st through December 31st) the Board shall prepare a budget for the forthcoming calendar year. The Board shall include provision for all anticipated expenses of the Association in the ordinary course of business, including without limitation, if applicable, daily operating expenses and costs, maintenance and repair, insurance, professional fees, and an adequate reserve fund for taxes; the Board shall consider the contingency reserve fund required, inchuding any accumulaton from prior years and adjust the budget accordingly. Based upon the budget, the Board shall determine the annual assessment.
Notwithstanding the foregoing the Board shall have the authority to revise, periodically within each calendar year, the annual assessment to reflect the then-current operating cost of the Association. Should the Board, in its absolute discretion,determine that the annual assessment should be coll.ed in installments rather than in one payment, the Board may offer a discount to any Owner who elects to pay the assessment in full on the due date of the first installment. Any Owner choosing to pay the Association assessments in this manner, shall, however, be obligated to pay any additional-assessments or entitled to a refund, which might be due to periodic revisions in the annual assessments.
Section 5.04. Special Assessment for Capital Imorovements. In addition to the annual assessments authorized above, the Association may levy, in any assessment year, a special assessment applicable to that year only for the purpose of defraying in whole or part, the cost of any construction, reconstruction, repair or replacement of any access road.
Section 5.05. Uniform Rate of Assessment. Both annual and special assessments for capital Improvements must be fixed at a uniform rate for all lots or parcels and may be collected on a monthly basis Uniform rates shall be based on the number of residential lots that may be separated from parcels; otherwise shall be by lot.
Date of Commencement of Annual Assessments: Due Dates: Both annual and
Section 5.06 special assessments for capital improvenents provided for herein shall commence as to any parcel or lot on the first day of the month following the conveyance of a parcel or lot to an Owner. The first annual assessment shall be adjusted according to the number of months remaining in the calendar year. The Board shall fix the amount of the annual assessment against each parcel or lot at least thirty (30) days in advance of each annual assessment period. Written notice of the annual assessment shall be sent to every Owner subject thereto in the event of its increase or decrease from the last annual assessment. The due dates shall be established by the Board The Association shall, upon demand, and for a reasonable charge, furnish a certificate signed by an officer of the Association setting forth wirether the assessments on a specified parcel or lot have been paid. A properly executed certificate of the Association as to the status of assessments on a parcel or lot is binding upon the Association as of the date of its issuance.
Section 5.07. Effect of Nonpayment Assessments: Remedies of the Association Each Owner shall be deemed to covenant and agree to paytothe Association the assessments provided for herein, and agrees to the enforcement of the assessments in the manner herein specified. All delinquent assessments shall bear interest at a rate of eight percent (8%) per annum, and late payments shall first be credited toward interest due, then toward assessments first due. In the event the Association employs an attorney for collection of any assessments, whether by suit or otherwise, or to enforce compliance with or specific performance of the terms and conditions of this Declaration, or for any other purpose in connection with the breach of this Declaration, each Owner agrees to pay reasonable attorney's fees and costs thereby incurred by the Association in addition to any other amounts due or any other relief or remedy obtained against said Owner. In the event of a default in payment of any such assessment when due, in which case the assessment shall be deemed delinquent, and in addition to any other remedies herein or by law provided, the Association may enforce each such obligation in any manner provided by taw or in equity, or without any limitation of the foregcing by either cr both of the following procedures:
A. Enforcement by Suit. The Board may cause a suit at law to be commenced and maintained.in the.name of the Association against an Ownerto enforce each such assessmient obligation. Any judgment rendered in any such action shall include the amount of the delinquency, together with interest thereon at the maximum rate permitted by law from the date of delinquency until paid, court costs, and reasoncble attorney's fees in such amount as the Court may adjudge against the delinquent Owner.
B. Enforcement by Lien. There is hereby created a right ofclaim of lien, with power of sale, on each and every parcel or lot to secure payment to the Association of any and all delinquent assessments levied against any and all Owners together with interest therein at the maximum rate permitted ty law per annum from the date of delinquency until paid, and all costs of collection which may be paid or incurred by the Association in connection there with, including reasonable attorney's fees. At anytime within ninety (90) days after the occurrence of any default in the payment of any such assessments, the Association, or any authorized representative may, but shall not be required to, make a written demand for payment to the defaulting Owner, on behalf ofthe Association. Said demand shall state the date and amount of the deiinquency. Each default shall constitute a separate basis for demand or claim of lien or a lien, but any number of defaults may be included within a single demand or claim of lien. If such delinquency is not paid within ten (10) days after deiivery of such demand, or, even without a written demand being made, the Associution may elect to fie such a claim of lien on behalf of the Association against the parcel or lot of the defaulting Owner. Such a claim of lien shall be executed and acknowledged by any officer of the Association, and shall contain substantially the following information
(1) The name of the delinquent Owner;
(2) The legal description of the parcel or lot against which ciaim of lien is made;
(3) The total amount claimed to be due and owing for the amount of the delinquency, interest thero collection costs, and reasonable attorney's fees (with any proper offset allowed); and
(4) That the claim of lien is made by the Association pursuant to this Declaration;
(5) That a lien is claimed against said parcel or lot in an amount equal to the amoun! stated. Upon recordation of a duly executed original or copy of such claim of lien, and malling a copy thereof to said Owner, the lien claimed there in shall immediately attach and become effective in favor of the Association as a lien upon the parcel or lot. Such a lien shall have priority over all claims of liens created subsequent to the recordation ofthe claim of lien thereof, except only tax liens for real property taxes on any parcel or lot, assessments on any parcel or lot in favor of any municipal or other governmental assessing unit, and the lien of any firs! mortgage. Any such lien may be foreclosed by appropriate action in Court or in the manner provided by law for the foreclosure of a realty mortgage or trust deed as set forth by the laws of the State of Arizona, as the same may be changed or amended. The lien provided for herein shall be in favor of the Association and shall be for the benefit of all other Owners. The Association shall have the power to bid in at any foreclosure sale and to purchase, acquire, hold, lease, mortgage, and convey any parcel or lot. In the event such foreclosure is by action in court, reasonable attorney's fees, court costs, title search fees, interest and all other costs and expenses shall be
allowed as a cost of suit. Each Owner hereby expressly waives any objection to the enforcement and foreclosure of this lien in this manner.
Section 5.08. No Exemption of Owner. No Owner is exempt jrom liability for payment of assessment by abandoament of his lot or parcel
Section 5.09. Subordination of the Lien to Mortrages. The lien of the assessments provided for herein shall be subordinate to the lien of any fivst morigage. Sale or transfer of any parcel or lot shall not affect the assessment lien.
Section 5.10. Morgage Protection and Addicional Assessments as Common Expense
Notwithstanding and prevailing over any other provisions of this Declaration, or the Association's Articles or Bylaws or the Rules, the following provisions shall apply to and benefit each holder of a first morigage upon a parcel or lot (called the first Mortgagee):
The first morigagee shallnot in any case ormanner be personally liableforthe payment of any assessment or charge, orfor the observance or performance of any covenant, restriction, regulation, Rule, Article, or Bylaw, except for those matters wnich are enforceable by injunctive or other equitable actions, nos requiring the payment of money, except as hereinafter provided.
B. During the pendency of any proceeding to foreclose the first mortgage, including any period of redemption, the first mortgagee (or receiver appointed in such action) may, but need not exercise cny or all of the rights and privileges of the Owner of the mortgaged parcel or lot, including but not limited to the righ: to vote as a Member of the Association to the exclusion of the Owner's exercise of such rights and privileges.
C. A! such times as the first morigagee shall become record Onnc of a parcel or lot, said first morigagee shall be subject to all of the terms and conditions of these Restrictions, including but not limited to the obligation to pay for all assessments and charges accruing thereafter, in the same manner as any Owner.
D. The first mortgagee, or any other party acquiring title to a mortgaged rcel or lot throuigt foreclosure suit or through any equivalent proceeding such as, but not limited to, the taking of a deed in lieu of foreclosure, shall acquire title to the ir wigaged parcel or lot free and clear of any lier cuthorized by or arising out of any of the provisions of this iDeclaration or Bylaws which secures the paymer: of any asressmert fo charges accreel prior to the final conchusion of any such foreclosure suit or equivalent proceeding including the expiration date of any period of redemption, except ar follows: Any such unpaid nssessment against the parcel or lot foreclosed against may be treated as an expense common to ail of the parcels o lots, which expense may be collected by a pro rata assessment agairst each of he parcels or lots, bichuding the parcel orlot foreclosed agains: and which pro rata assessment may be enforced as a lien against each parcel or lot in the manner provided for other as:23snents. ny such unpaid a essment chall nevertheless continue to exist as the personal obligation of the defaulting Owner of the respecitve parcel or lot to the Association, and the Board shall use reasonable efforts to collect the same from the Owner even after he isw longer Member of the Association. There shallbe a iien upon the inierests of the first mortgagee or other party which acquires title to a mortgaged unit by foreclosure suit or by equivalent procedures for all assessmer is authorizel by these Restrictions which accrue and are assessed after the date the acquirer has acaired title to the parcel or lot fre and clear of any right of redemption.
Sectics 5.11
Access Road Maintennce. The Board shall have the ahority to moke determinations with respect to any access road and she maintenance therecf and to inchude in any normal or special assessment provisions for maintenance of zaid road, to specifically include the access road which joins the inisial property the subject of this Declar llon with Speedway soulevard and any other access road which may becone an easement which is shared by any owners. To the extent an access rond does not benefis property owners covered by this Declaration, then the Board may only act to assess the poperty owners directly affected by said road or delegate to represcatatives of those owners the responsibility for such assessmer.t.
ARTICLE ANNEXATION
Sectica 6.01. Annexation, Additional residential property (Annexed Property") may be annexed to the Property initially covered by this Declaration with the consent of two-thirds (2/3) of the Members eligible to te. All owners of Annexed Property must join in any annexation of property and consent to the application of this Declaration in its entirety by Supplemental Declaration, except as specifically set forth in such Supplemental Declaration, such to be signed by at least two-thirds (2/3) of the Members as set forth above and all Owners of the Annexed Property."
Upon the recording of a Supplemental Declaration to Annexed Property and adopting the provisions set forth herein, the covenants, conditions and restrictions contained in this Declaration shall apply to the Annexed Property in the some manner as if it were originally covered by this Declaration except as amended in Supplemental Declarations pertaining to the Annexed property; and thereafter the rights, privileges duties and liabilities of the Owners, lessees and occupants of parcels or lots within the Annexed Property shall be the same as in the case ofthe Property except as amended in Supplemental Declarations pertaining to the Annexed Property. provisions:
Any Supplemental Declaration annexing property referred to herein shall contain the following
A i reference to this Declaration, which reference shall state the date of recordation hereof and the Book or Books of the Records of the County of Pima, State of Arizona, and the page numbers where this Declaration is recorded:
B. A statement that the provisions ofthis Declaration other than those specifically excepted shall apply to the Annexed Property as set forth herein and as amended from time to time;
C. An exact legal description of the Annexed Property.
ARTICLEE VII GENERAL PROVISIONS
Section 7.01. Term. The covenants, conditions, and restrictions of this Declaration shall remain in fullforce and effect for a period of twenty (20) years from the date this Declaration is recorded. Thereafter, they shall be deemed to have been renewed and automatically extended for ruccessive periods of ten (10) years cach
Section 7.02 Amendments. Initially, and for one year following the recordation of this Declaration, the initial owners ofthe subject property to whom the Declarant has conveyed following the fling of this Declaration, their successors and assigns, shall have the exclusive right to amend this Declaration. Thereafter, this Declaration may be amended at an annual meeting or at a special meeting called for that purpose, upon approval by a two-third's (2/3) majority of Owners entitled to vote pursuant to Section 4.02; provided that a copy of the proposed amendment to be considered had been mailed or delivered to each Owner at least thirty (30) days prior to the meeting at which it is considered. Upon approval, the President and Sccretary of the Association shall execute an instrument in wriing ce tifying that such amendment has been approver! by the Owners as provided herein and such amendment shall be effective upon its recordation with the Pima County Pecorder.
Section 7.03. Enforcement and Non-Waiver.
A. Enforcement. These provisions, restrictions and covenants shall be enforceable by the Association and any owner or owners of the property covered by same against any person or persons violating or attempting to violats any covenant. Enforcement may be made by action in the Superior Court, Pima County, Arizona, and the successful prosecution of such action shall entitle the successful party to reasonable costs and attorneys fees incurred by virtue of the prosecution of such action. The enforcement shall inchude the collection of any lirns or charges now or hereafter imposed by provision of this Declaration, and shall include enforcement rights by any proceeding at law or in equity available.
B. Pre-requisites to Litigation In the event a dispute between an Owner and the Board or the Association, the complainant Owner, as an absolute condition precedent to instituting a legal action against the Board or the Association, must first serve notice in writing on the Board or the Association in the manner hereinafter provided, advising them of the alleged grievance, the action or results desired and a date and time convenient for a meeting; the Board shall have a minimum offifteen (15) days, but not to exceed thirty (30) days, from receipt of said notice in which to schedule a meeting for the purpose of arriving at a settlement of the controversy with complainant. The Association may maintain an action against an Owner or member for any violation of these Restrictions without the condition precedent stated above first being satisfied
Violations and Nuisances. Every act or omission whereby any provision of this Declaration is violated in whole or in part is hereby declared to be a nuisance and may be enjoined or abased whether or not the relief sought is for negative or affirmative action, by the Association, or any Owmer or group of Owners of parcels or lots covered by this Declaration.
D. Violation of Law. Each and every provision of this Declaration and any amendment hereto shall be subject to all Pima County ordinances and subdivision regulations and any future amendments thereto. Any violation of any state, municipal or local law, ordinance or regulation pertaining to the ownership, occupation or use of any property covered by this Declaration is hereby declared to be a violation of these Restrictions and subject to any and all of the enforcement procedures set forth herein or in the Bylaws. not exchusive.
E. Remedies Cumulative. Each remedy provided by these Restrictions is cumulative ard
F. Non-Waiver. Failure by the Board, the Association or by any Owner to enforce any of the provisions of these Restrictions at any time shall not constitute a waiver of the right thereafter to enjorce any such provision or any other provisions of these Restrictions.
Section 7.04. Morigage Protection. Notwithstanding any other provisions of this Declaration, no amendment of this Declaration shall operate to defeat and render invalid the rights of the benesiciary under any Deed of Trust or mortgage upon a parcel or lot made in good faith and for value, and reconded prior to the recordation of such amendments, provided that after the foreclosure of any such Deed of Trust or morigage such parcel or lot shall remain subject to this Declaration, as amended
Section 7.05. Construction
A. Interpretation The provisions of this Declaration shallbe liberally construed to effectuate their purpose of creating a uniform plan for the development and operation of the property covered by this Declaration. This Declaration shall be construed in accordance with the laws of the State of Arizona.
B. RestnictionSeverable. Nortwithstanding theprovisions oftheforegoing Paragraph A each of the provisions of this Declaration shall be deemed independent and severable, and the invalidity or partial invalidity of any provision or portion thereof shall not affect the validity or enforceability of any other provision.
C. Rule Against Perpetuities. In the event the provisions hereunder are declared void by Court of competent jurisdiction by reason of the period of time herein stated for which the same shall be effective, then in the event said periods of time shallbe recuced to a period of time which shall not violate the rules against perpetuities in accordance with the laws of the State of Arizono.
D. Singular Includes Plural, Unless the context requires a contrary construction, the singular shall include the plural and the plural the singular, and the masculine, feminine or neuter shall each include the masculine, feminine and neuter.
E. Captions. All captions and titles used in this Declaration are intended solely for convenience or reference purposes only and in no way define, limit or describe the true intent and meaning ofthe provisions hereof.
Section 7.06. Detivery of Notices and Documents, Any written notice or other documents relating Lo or required by its Declaration may be delivered either perionally or by mail. If by mail, it shallbe deemed to have been delivered twenty (20) days after a copy of same has iveen deposited in the United States mail, postage prepaid, addressed as follows: If to the Association, to any officer or the statutory agent; ifto an Owner, to the address of any parcel or lot of the Property, in whole or in part, by him or to any other address lastfurnished by an Owner to the Association Each Owner of a parcel or lot shallfile the correct mailing address ofsuch Owner with the Association, and shall prompily notify the Association in writing of any subsequent change of address.
Section 7.09. Binding Effect. By acceptance of a deed or acquiring any ownership interest in any of the property included within this Declaration, each person or entity, for himself, or itself, his heirs, personal representatives, successors, transferees and assigns, binds himself, kis heirs, personal represeniatives, successors, transferrees and assigns, to all provisions, restrictions, covenants, conditions, rules and regulations now or hereafter imposed by this Declaration and amendments thereof. In addition, each such person by so doing thereby acknowledges that this Declaration sets forth a general scheme forthe Property and hereby evidences his interest that all restrictions, conditions, covenants, rules and regulations contained herein shall run with the land and be binding on all subsequent and future Owners, grantees, purchasers, assignees und transferees thereof. Furthermore, each such person fullyunderstands and acknowledges that this D-claration shall be mutuallybeneficial, prohibitive and enforceable by the various subsequent and future Owners.
IN WITNESS WHEREOF, the undersigned has executed this Declaration of Covenants, Conditions, and Restrictions the ith day of June 1993.
STATE OF ARIZONA
County of Pima
On this, the fte DEIBEL, who executed the foregoing i day ofu 1993, before me personally appeared LAURIE instrument for the purpcke therein set forth
YNotary Public
LAURIE DEIBEL
Eecrow No. 102119
PARCKL 1:
A portion of Section 8, Township 14 Scuth, Range 13 East, Gila and Salt River Base and Merdian, Pima County, Arizona, described as folloWB:
COMMENCING at the Northeast corner of said Section 8;
THENCE South 00 degrees 25 minutes 36 seconds East, along the East line of the Northeast one Quarter of said Section 8, 35.00 feet to a point on the South right-of-way line of Speedway Boulevard;
THENCE North 89 degrees 47 minutes 59 seconds West along the South right-of-way line of Speedway Boulevard, 1073.23 feet;
THENCE SOuth 37 degrees 50 minutes 26 seconds West, 217.95 feet to a point of tangent curvature to the right having a radius of 437.11 feet;
THENCE Southwesterly along the arc of said curve, through a central angle of 19 deqrees 34 minutes 42 econds (19 degrees 28 minutes 53 seconds recorded), 148.62 feet to a pint of compound curvature to the right, the radius bearing North 32 degrees 34 minutes 52 seconds West, 430.00 feet;
THENCE continue Southwesterly along the arc of said curve to the right, throuch central angle of 15 degrees 35 mirutes 04 seconds, 116.69 feet (15 dagrees 34 minutes 35 seconds, 116.90 feet recorded) to a point of inte section with a non-tangent line, the radius bearing North 16 degrees 59 minutes 40 seconds West, 430.00 feet;
THENCE North 59 degrees 20 minutes 23 secords East, 166.80 feet to the POINT OF BEGINNING.
(Portion of ARB 41)
Bo. 102121L DESCRIPTION
PARCEL 2:
A partion of Section 8, Township 14 South, Range 13 East, Gila and Salt River Base and Meridian, Pima County, Arizona, described as followI
COMMENCTNG at the Northeast corner of said Section 8;
THENCE South 00 degrees 25 minutes 36 seconds East, along the East line of the Northeast one Quarter of said Section 8, 35.00 feet to a point on the South right-of-way line of Speedway Boulevard;
THENCE North 89 degrees 47 minutes 59 seconds West, along the South right-of-way line of Speedway Boulevard, 1073.23 feet to THE POINT O BEGINNING;
THENCE North 00 degrees 15 mirutes 58 seconds West, 588.00 feet to a point the South right-of-way line of Speedway Boulevard; on
THENCE South 89 degrees 47 minutes 59 seconds East, along the South right-of-way line of Speedway Boulevard. 233.98 feet to the FOINT OF BEGINNING. a portion of ARB 41)
Count on First American Title.
Count on us for service.
First American Title’s professionals are proud to provide the title insurance that assures people’s home ownership. Backed by First American Title Insurance Company, your transaction will be expertly completed in accordance with state-specific underwriting standards and state and federal regulatory requirements.
Count on us for stability.
First American Title is the principal subsidiary of First American Financial Corporation, and one of the largest suppliers of title insurance services in the nation. With roots dating back to 1889, we’ve served families for generations.
Count on us for convenience.
First American Title has a direct office or agent near you. We also have an extensive network of offices and agents throughout the United States, and internationally.
Count on us to meet your needs.
First American Financial Corporation offers more than title insurance and escrow services through its subsidiaries. Our subsidiaries also provide property data, title plant records and images, home warranties, property and casualty insurance, and banking, trust and advisory services.
Benefits from a professional REALTOR® .
Before you make the decision to try to sell your home alone, consider the benefits a REALTOR® can provide that you may not be aware of:
Understands market conditions and has access to information not available to the average homeowner.
Can advertise effectively for the best results.
Knows how to price your home realistically, to give you the highest price possible within your time frame.
Is experienced in creating demand for homes and how to show them to advantage.
Knows how to screen potential Buyers and eliminate those who can’t qualify or are looking for bargain-basement prices.
Knows how to go toe-to-toe in negotiations.
Is always “on-call,” answering the phone at all hours, and showing homes evenings and weekends.
Can remain objective when presenting offers and counter-offers on your behalf.
Maintains errors-and-omissions insurance.
Will listen to your needs, respect your opinions and allow you to make your own decisions.
Can help protect your rights, particularly important with the increasingly complicated real estate laws and regulations.
Is experienced with resolving problems to facilitate a successful closing on your home.
For sale by owner.
Many people believe they can save a considerable amount of money by selling their homes themselves. It may seem like a good idea at the time, but while you may be willing to take on the task, are you qualified? The following are some questions to help you realistically assess what’s involved:
Do you have the knowledge, patience, and sales skill needed to sell your home?
If your buyer is aggressive, can you negotiate a successful outcome for yourself?
Do you know how to determine the current market value of your home?
Are you aware of conditions in the marketplace today that affect value and length of time to sell?
Do you know how to determine whether or not a buyer can qualify for a loan?
Are you concerned about having strangers walking through your home?
Do you understand the steps of an escrow and what’s required of you and the buyer?
Are you familiar enough with real estate regulations to prepare a binding sales contract? Counter-offers?
Are you aware that every time you leave your home, you are taking it off the market until you return?
Have you made arrangements with an escrow and title company, home warranty company, pest-control service and lender to assist you with the transaction?
Do you need to hire a real estate attorney? If so, do you know what the cost will be and how much liability they will assume in the transaction?
Only you can determine whether you should attempt to sell your home—probably your largest investment—all alone. Talk with a REALTOR® before you decide. You may find working with a professional is a lot less expensive and much more beneficial than you ever imagined!
Do you know how to advertise effectively and what the costs will be?
Are you aware that prospective buyers and bargain hunters will expect you to lower your cost because there’s no REALTOR® involved?
Do you understand the various types of loans buyers may choose and the advantages and disadvantages for the seller?
Are you prepared to give up your evenings and weekends to show your home to potential Buyers and “just-looking” time wasters?
Key professionals involved in your transaction.
REALTOR®
A REALTOR® is a licensed real estate agent and a member of the National Association of REALTORS®, a real estate trade association. REALTORS® also belong to their state and local Association of REALTORS® .
Real Estate Agent
A real estate agent is licensed by the state to represent parties in the transfer of property. Every REALTOR® is a real estate agent, but not every real estate agent has the professional designation of a REALTORS®
Listing Agent
A key role of the listing agent or broker is to form a legal relationship with the homeowner to sell the property and place the property in the Multiple Listing Service.
Buyer’s Agent
A key role of the buyer’s agent or broker is to work with the buyer to locate a suitable property and negotiate a successful home purchase.
Multiple Listing Service (MLS)
The MLS is a database of properties listed for sale by REALTORS® who are members of the local Association of REALTORS®. Information on an MLS property is available to thousands of REALTORS®
Title Company
These are the people who carry out the title search and examination, work with you to eliminate the title exceptions you are not willing to take subject to, and provide the policy of title insurance regarding title to the real property.
Escrow Officer
An escrow officer leads the facilitation of your escrow, including escrow instructions preparation, document preparation, funds disbursement, and more.
Lenders
A financial institution that provides money to a borrower to purchase real estate, often in the form of a mortgage. Lenders play a vital role in the home buying process by assessing the borrower’s ability to repay the loan and setting the terms of the mortgage.
Inspectors
A licensed professional who evaluates the condition and safety of a property for a buyer or seller. They inspect the property from top to bottom, looking for defects that could be a financial burden or safety risk.
Appraisers
A professional who provides an unbiased estimate of a property’s value.
Preparing your home for sale.
First impressions have a major impact on potential buyers. Try to imagine what a potential buyer will see when they approach your house for the first time and walk through each room. Ask your REALTOR® for advice; they know the marketplace and what helps a home sell. Here are some tips to present your home in a positive manner:
Mow and edge the lawn regularly, and trim the shrubs.
Make your entry inviting: paint your front door and buy a new front door mat.
Paint or replace the mailbox, if needed.
If screens or windows are damaged, replace or repair them.
Repair or replace worn shutters and other exterior trim.
Make sure the front steps are clear and hazard-free. Make sure the doorbell works properly and has a pleasant sound.
Ensure that all exterior lights are working.
Check stucco walls for cracks and discoloration.
Remove any oil and rust stains from the driveway and garage.
Clean and organize the garage, and ensure the door is in good working order.
Shampoo carpeting or replace if worn. Clean tile floors, particularly the caulking.
Brighten the appearance inside by painting walls, cleaning windows and window coverings, and removing sunscreens.
Repair leaky faucets and caulking in bathtubs and showers.
Repair or replace loose knobs on doors and cabinets. If doors stick or squeak, fix them.
Make sure toilet seats look new and are firmly attached.
Repair or replace loud ventilating fans.
Replace worn shower curtains.
Rearrange furniture to make rooms appear larger. If possible, remove and/or store excess furniture, and avoid extension cords in plain view.
Remove clutter throughout the house. Organize and clean out closets.
Clean household appliances and make sure they work properly.
Air conditioners/heaters, evaporative coolers, hot water heater should be clean, working and inspected if necessary. Replace filters.
Check the pool and/or spa equipment and pumps. Make sure all are working properly and that the pool and/or spa are kept clean.
Inspect fences, gates and latches. Repair or replace as needed.
Staging your home for show.
To make the best impression, keep your home clean, neat, uncluttered and in good repair. Please review this list prior to each showing:
Keep everything clean. A messy or dirty home will cause prospective buyers to notice every flaw.
Clear all clutter from counter tops.
Let the light in. Raise shades, open blinds, pull back the curtains and turn on the lights.
Get rid of odors such as tobacco, pets, cooking, etc., but don’t overdo air fresheners or potpourri. Fresh baked bread and cinnamon can make a positive impact.
Send pets away or secure them away from the house, and be sure to clean up after them.
Close the windows to eliminate street noise.
If possible you, your pets, and your children should be gone while your home is being shown.
Clean trash cans and put them out of sight.
If you must be present while your home is shown, keep noise down. Turn off the TV and radio. Soft, instrumental music is fine, but avoid vocals.
Keep the garage door closed and the driveway clear. Park autos and campers away from your home during showings
Hang clean attractive guest towels in the bathrooms.
Check that sink and tub are scrubbed and unstained.
Make beds with attractive spreads. Stash or throw out newspapers, magazines, junk mail.
Terms you should know.
Appraisal
An estimate of value of property resulting from analysis of facts about the property; an opinion of value.
Annual Percentage Rate (APR)
The borrower’s costs of the loan term expressed as a rate. This is not their interest rate.
Beneficiary
The recipient of benefits, often from a deed of trust; usually the lender.
Closing Disclosure (CD)
Closing disclosure form designed to provide disclosures that will be helpful to borrowers in understanding all of the costs of the transaction. This form will be given to the consumer three (3) business days before closing.
Close of Escrow
Generally the date the buyer becomes the legal owner and title insurance becomes effective.
Comparable Sales
Sales that have similar characteristics as the subject real property, used for analysis in the appraisal. Commonly called “comps.”
Consummation
Occurs when the borrower becomes contractually obligated to the creditor on the loan, not, for example, when the borrower becomes contractually obligated to a seller on a real estate transaction. The point in time when a borrower becomes contractually obligated to the creditor on the loan depends on applicable state law. Consummation is not the same as close of escrow or settlement.
Deed of Trust
An instrument used in many states in place of a mortgage.
Deed Restrictions
Limitations in the deed to a parcel of real property that dictate certain uses that may or may not be made of the real property.
Disbursement Date
The date the amounts are to be disbursed to a buyer and seller in a purchase transaction or the date funds are to be paid to the borrower or a third party in a transaction that is not a purchase transaction.
Earnest Money Deposit
Down payment made by a purchaser of real property as evidence of good faith; a deposit or partial payment.
Easement
A right, privilege or interest limited to a specific purpose that one party has in the land of another.
Endorsement
As to a title insurance policy, a rider or attachment forming a part of the insurance policy expanding or limiting coverage.
Hazard Insurance
Real estate insurance protecting against fire, some natural causes, vandalism, etc., Depending upon the policy. Buyer often adds liability insurance and extended coverage for personal property.
Impounds
A trust type of account established by lenders for the accumulation of borrower’s funds to meet periodic payments of taxes, mortgage insurance premiums and/or future insurance policy premiums, required to protect their security.
Legal Description
A description of land recognized by law, based on government surveys, spelling out the exact boundaries of the entire parcel
of land. It should so thoroughly identify a parcel of land that it cannot be confused with any other.
Lien
A form of encumbrance that usually makes a specific parcel of real property the security for the payment of a debt or discharge of an obligation. For example, judgments, taxes, mortgages, deeds of trust.
Loan estimate (LE)
Form designed to provide disclosures that will be helpful to borrowers in understanding the key features, costs and risks of the mortgage loan for which they are applying. Initial disclosure to be given to the borrower three (3) business days after application.
Mortgage
The instrument by which real property is pledged as security for repayment of a loan.
PITI
A payment that includes principal, interest, taxes, and insurance.
Power of Attorney
A written instrument whereby a principal gives authority to an agent. The agent acting under such a grant is sometimes called an “attorney-in-fact.”
Recording
Filing documents affecting real property with the appropriate government agency as a matter of public record.
Settlement Statement
Provides a complete breakdown of costs involved in a real estate transaction.
TRID
Tila-respa integrated disclosures
The life of an escrow.
Chooses a Real Estate Agent
Gets pre-approval letter from Lender and provides to Real Estate Agent.
Makes offer to purchase. Upon acceptance, opens escrow and deposits earnest money.
Finalizes loan application with Lender. Receives a Loan Estimate from Lender.
Completes and returns opening package from First American Title.
Schedules inspections and evaluates findings. Reviews title commitment/preliminary report.
Provides all requested paperwork to Lender (bank statements, tax returns, etc.) All invoices and final approvals should be to the lender no later than 10 days prior to loan consummation.
Lender (or Escrow Officer) prepares CD and delivers to Buyer at least 3 days prior to loan consummation.
Escrow officer or real estate agent contacts the buyer to schedule signing appointment.
Documents are recorded and the keys are delivered!
Accepts Buyer’s offer to purchase.
Completes and returns opening package from First American Title, including information such as forwarding address, payoff lender contact information and loan numbers.
Orders any work for inspections and/or repairs to be done as required by the purchase agreement.
Escrow officer or real estate agent contacts the seller to schedule signing appointment.
Documents are recorded and all proceeds from sale are received.
Upon receipt of order and earnest money deposit, orders title examination.
Requests necessary information from buyers and sellers via opening packages.
Reviews title commitment/ preliminary report.
Upon receipt of opening packages, orders demands for payoffs. Contacts buyer or seller when additional information is required for the title commitment/preliminary report.
All demands, invoices, and fees must be collected and sent to lender at least 10 days prior to loan consummation.
Coordinates with lender on the preparation of the CD.
Reviews all documents, demands, and instructions and prepares settlement statements and any other required documents.
Schedules signing appointment and informs buyer of funds due at settlement.
Once loan is consummated, sends funding package to lender for review.
Prepares recording instructions and submits docs for recording.
Documents are recorded and funds are disbursed. Issues final settlement statement.
Accepts Buyer’s application and begins the qualification process. Provides Buyer with Loan Estimate.
Orders and reviews title commitment / preliminary report, property appraisal, credit report, employment and funds verification.
Collects information such as title commitment / preliminary report, appraisal, credit report, employment and funds verification. Reviews and requests additional information for final loan approval.
Underwriting reviews loan package for approval.
Coordinates with Escrow Officer on the preparation of the Closing Disclosure, which is delivered to Buyer at least 3 days prior to loan consummation.
Delivers loan documents to escrow.
Upon review of signed loan documents, authorizes loan funding.
The Buyer
The Escrow Officer
Chooses a Real Estate Agent
The Seller
The Lender
Closing Costs: Who Pays Whats
The Escrow Process
What is an escrow?
The escrow is the process of having a neutral party manage the exchange of money for real property. The escrow holder is known as an escrow or settlement officer or agent. The buyer deposits funds and the seller deposits a deed with the escrow holder along with all of the other documents required to remove all "contingencies" (conditions and approvals) in the purchase agreement prior to closing.
How is an escrow opened?
Once a purchase agreement is signed by all necessary parties, the agent representing the party who will pay the fee selects an escrow holder and the buyer's earnest money deposit and contract are submitted to the escrow holder. From this point, the escrow holder will follow the mutual written instructions of the buyer and seller, maintaining a neutral stance to ensure that neither party has an unfair advantage over the other. The escrow holder also follows the instructions of the Buyer's new lender, the seller's existing lender, and both parties' agents. The escrow holder ensures the transparency of the transaction, while carefully maintaining the privacy of the consumers.
Your escrow professional may:
Open escrow and, if instructed to do so, deposit your good faith funds in a separate escrow account.
Order a title search to determine ownership and status of the subject real property.
Issue a preliminary report and begin the process of eliminating the title exceptions you and your lender are not willing to take title subject to.
Request payoff information for the seller’s loans, other liens, homeowner’s association fees, etc.
Coordinate with the buyer’s lender on the preparation of the Closing Disclosure (CD).
Prorate fees, such as real property taxes, per the contract, and prepare the settlement statement.
Set separate appointments allowing the seller and you to sign documents and deposit funds.
Review documents ensuring all conditions and legal requirements are fulfilled; request funds from lender.
When all funds are deposited, record documents with the County Recorder’s Office to transfer the subject real property to you.
After the recordation is confirmed, close escrow and disburse\funds, including seller’s proceeds, loan payoffs, etc.
Prepare and send final documents to all parties involved.
Understanding title insurance.
The title industry and title insurance in brief.
Prior to the development of the title industry in the late 1800s, a home-buyer received a grantor’s warranty, attorney’s title opinion, or abstractor’s certificate as assurance of home ownership. The buyer relied on the financial integrity of the grantor, attorney, or abstractor for protection. Today, home-buyers look primarily to title insurance to provide this protection. Title insurance companies are regulated by state statute. They are required to post financial guarantees to ensure that any claims will be paid in a timely fashion. They also must maintain their own “title plants” which house duplicates of recorded deeds, mortgages, plats, and other pertinent county property records.
What is title insurance?
Title insurance provides coverage for certain losses due to defects in the title that, for the most part, occurred prior to your ownership. Title insurance protects against defects such as prior fraud or forgery that might go undetected until after closing and possibly jeopardize your ownership and investment.
Why is title insurance needed?
Title insurance insures buyers against the risk that they did not acquire marketable title from the seller. It is primarily designed to reduce risk or loss caused by defects in title from the past. A loan policy of title insurance protects the interest of the mortgage lender, while an owner’s policy protects the equity of you, the buyer, for as long as you or your heirs (in certain policies) own the real property.
When is the premium due?
You pay for your owner’s title insurance policy only once, at the close of escrow. Who pays for the owner’s policy and loan policy varies depending on local customs.
5
Compare First American Title’s Eagle Policy® for Owners
Consider This
One escrow transaction could involve more than 20 individuals, including real estate agents, buyers, sellers, attorneys, escrow officer, escrow technician, title officer, loan officer, loan processor, loan underwriter, home inspector, termite inspector, insurance agent, home warranty representative, contractor, roofer, plumber, pool service, and so on. And often, one transaction depends on another.
When you consider the number of people involved, you can imagine the opportunities for delays and mishaps. Your experienced escrow team can’t prevent unforeseen problems from arising; however, they can help smooth out the process.
Closing Your Escrow
What to do before the closing appointment.
Your escrow officer or escrow technician will contact you to schedule your closing appointment and inform you of the funds you need to bring with you. Obtain a cashier’s check for that amount made payable to First American Title. If a wire transfer is necessary, arrange for it in advance with your escrow officer.
First American Title is required by law to have funds deposited before escrow funds can be disbursed. Expect delays if you submit a personal check! If you have questions or anticipate a problem, contact your escrow officer immediately.
Don’t forget your identification.
You will need valid identification with your photo; a driver’s license is preferred. This is necessary so that your identity can be sworn to by a notary public. It’s a routine step, but it’s important for your protection.
What happens next?
During your signing appointment at First American Title, you will sign loan documents for the home you are purchasing and you will present your identification so the documents can be notarized. You will review the settlement statement and give the escrow officer your cashier’s check. (The seller will sign at a separate appointment.)
First American Title will confirm that all contract conditions have been met and ask the lender to “fund the loan.” If the loan documents are satisfactory, the lender will send funds directly to First American Title. When all necessary funds are received we will disperse escrow funds to the seller and other appropriate payees. The signed loan documents will be returned to the lender. We will record the deed at the county recorder’s office. At this time your escrow is closed.
After the Closing
We recommend you keep all records pertaining to your home together in a safe place, including all purchase documents, insurance, maintenance and improvements.
Loan payments and impounds. You should receive a statement from your lender before your first payment is due. If you have not been notified, or if you have questions about your tax and insurance impounds, contact your lender.
Home Warranty Repairs. If you have a home warranty policy, call your home warranty company directly for repairs. Have your policy number available when you call.
Title Insurance Policy. First American Title will deliver your policy and your recorded deed.
Property Taxes. You may not receive a tax statement for the current year on the home you buy; however, it is your obligation to make sure the taxes are paid when due. Check with your mortgage company to find out if taxes are included with your payment. For more information on your property taxes, contact your county treasurer’s office.
Planning Your Move
Six Weeks Before:
Create an inventory sheet of items to move
Research moving options You’ll need to decide if yours is a do-it-yourself move or if you’ll be using a moving company.
Request moving quotes Solicit moving quotes from as many moving companies and movers as possible. There can be a large difference between rates and services within moving companies.
Discard unnecessary items Moving is a great time for ridding yourself of unnecessary items. Have a yard sale or donate unnecessary items to charity.
Packing materials. Gather moving boxes and packing materials for your move.
Contact insurance companies (Life, Health, Fire, Auto) You’ll need to contact your insurance agent to cancel/ transfer your insurance policy. Do not cancel your insurance policy until you have and closed escrow on the sale.
Seek employer benefits If your move is work-related, your employer may provide funding for moving expenses. Your human resources rep should have information on this policy.
Changing Schools If changing schools, contact new school for registration process.
Four Weeks Before:
Contact utility companies Set utility turnoff date, seek refunds and deposits and notify them of your new address.
Obtain your medical records. Contact your doctors, physicians, dentists and other medical specialists who may currently be retaining any of your family’s medical records. obtain these records or make plans for them to be delivered to your new medical facilities.
Note food inventory levels Check your cupboards, refrigerator and freezer to use up as much of your perishable food as possible.
Service small engines for your move by extracting gas and oil from the machines. This will reduce the chance to catch fire during your move.
Protect jewelry and valuables Transfer jewelry and valuables to safety deposit box so they can not be lost or stolen during your move.
Borrowed and rented items Return items which you may have borrowed or rented. Collect items borrowed to others.
One Week Before:
Plan your itinerary Make plans to spend the entire day at the house or at least until the movers are on their way. Someone will need to be around to make decisions. Make plans for kids and pets to be at the sitters for the day.
Change of address Visit USPS for change of address form.
Bank accounts Notify bank of address change. Make sure to have a money order for paying the moving company if you are transferring or closing accounts.
Service automobiles If automobiles will be driven long distances, you’ll want to have them serviced for a troublefree drive.
Cancel services. Notify any remaining service providers (newspapers, lawn services, etc) of your move.
Start packing Begin packing for your new location.
Travel items Set aside items you’ll need while traveling and those needed until your new home is established. Make sure these are not packed in the moving truck!
Scan your furniture. Check furniture for scratches and dents before so you can compare notes with your mover on moving day.
Prepare Floor Plan Prepare floor plan for your new home. This will help avoid confusion for you and your movers.
Moving Day:
Review the house Once the house is empty, check the entire house (closets, the attic, basement, etc) to ensure no items are left or no home issues exist.
Sign the bill of lading Once you are satisfied with the mover’s packing your items into the truck, sign the bill of lading. If possible, accompany your mover while the moving truck is being weighed.
Double check with your mover Make sure your mover has the new address and your contact information should they have any questions during your move.
Vacate your home. Make sure utilities are off, doors and windows are locked and notify your real estate agent you’ve left the property.
Central Arizona Branch Locator
1 Sun City West
623-299-3644
13940 W. Meeker Blvd, #119 Sun City West, AZ 85375 N of Meeker Blvd W of R.H. Johnson
2 The Legends
623-537-1608
20241 N. 67th Ave, #A-2 Glendale, AZ 85308 E side 67th Ave/N of 101
3 Arrowhead
623-487-0404
16165 N. 83rd Ave, #100 Peoria, AZ 85382
SE corner of N 83rd Ave and W Paradise Ln
4 Anthem
623-551-3265
39508 N. Daisy Mountain Dr, #128 Anthem, AZ 85086 NE corner Daisy Mtn Dr/Gavilan Peak Pkwy
5 Tatum Ridge
480-515-4369
11211 N Tatum Blvd, #A150 Phoenix, AZ 85028 N of Shea, E side of Tatum
6 Carefree
480-575-6609
7202 E. Carefree Dr, Bldg 1, #1 Carefree, AZ 85377 NE corner of Tom Darlington/Carefree Dr.
7 Scottsdale Forum
480-551-0480
6263 N. Scottsdale Rd, #110 Scottsdale, AZ 85250 E Side Scottsdale/S of Lincoln
8 Raintree
480-563-9034
8605 E. Raintree Dr, # 130 Scottsdale, AZ 85260 SW corner of E Raintree Dr and N 87th St
9 Chandler Portico
480-777-0051
2121 W. Chandler Blvd., #100 Chandler, AZ 85224 SW Corner Chandler Blvd./Dobson Rd.
10 Gilbert San Tan
480-777-0614
1528 E. Williams Field Rd. #101 Gilbert, AZ 85295 NW corner of Williams Field Rd./Val Vista Rd.
11 Mesa
480-401-3738
1630 S. Stapley Dr, #123 Mesa, AZ 85204 N of Baseline / W of Stapley
12 Gold canyon
480-288-0883
6877 South Kings Ranch Rd, #5 Gold Canyon, AZ 85118 E of 60/South Side Kings Ranch Rd.
Southern Arizona Branch Locator
1 Tanque Verde
6390 E Tanque Verde Rd Tucson, AZ 85715
phone 520-885-1600 / 520-202-2626
2 Broadway
3777 E Broadway, Ste 130 Tucson, AZ 85716
phone 520-747-1644
3 Cambric 1840 E River Road Ste 200 Tucson, AZ 85718
phone 520-577-8707 / 520-529-1944
4 Casa Grande
442 W Kortsen Road, Ste 101 Casa Grande, AZ 85122
phone 520-426-4600
5 Casas Adobes
6760 N Oracle Rd, Ste 100B Tucson, AZ 85704 phone 520-575-1900
6 Green Valley
210 W Continental Road, Ste. 248 Green Valley, AZ 85622 phone 520-625-1095
7 Oro Valley/La Canada 11165 N La Canada Dr, Ste 143 Oro Valley, AZ 85737 phone 520-877-9200
8 Oro Valley/Oracle 8500 N Oracle Rd, Ste 100 Oro Valley, AZ 85704 phone 520-297-2576 | 520-219-6451
