Cambridge Townhomes

Key facts from Cambridge Townhomes's documents

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

Community type

townhome community (title: VILLAS OF CAMBRIDGE TOWNHOMES)

Legal name

Villas of Cambridge Townhomes

Governing law

Illinois General Not-For-Profit Corporation Act (text: the Association under the Illinois)

Assessments & dues

not fixed; determined annually by Board (6.02)

Special assessments

allowed after Turnover Date with 2/3 vote of Voting Members present (6.05)

Collections & liens

Charges are a lien on Parcel and personal obligation. Lien subordinate to first mortgages. Foreclosure extinguishes pre-transfer charges but may be reallocated. (7.01, 7.04)

Reserves & fees

Capital Reserve for capital expenditures; Board determines appropriate level (6.06)

Pets

Pets allowed in Home, not in Common Area. Board may adopt rules. Nuisance pets removed within 3 days. (8.07)

Leasing & rentals

Owner may lease all of Home (not less than all) (2.15)

Home business

not prohibited if limited to personal business activities (8.04)

Signs & flags

For Sale or For Rent signs not allowed except as permitted by Board. One sign allowed in window or front lawn subject to rules. (8.01)

Use restrictions

Each Home used only as residence; exceptions for personal professional library, business records, handling calls/correspondence (8.04)

Voting & meetings

Prior to Turnover Date, Declarant has all voting rights. After Turnover Date, each Voting Member has one vote per Parcel. (5.05)

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