Homepage for the Rose Condominium Association

Key facts from Homepage for the Rose Condominium Association's documents

Reflects the 1987 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Governing law

Illinois Condominium Property Act (Article I Section 3(b), Article II Secti)

Special assessments

Board may levy further assessment if estimated cash requirement proves inadequate; notice in writing giving amount and reasons; effective with next monthly payment due more than 10 days after notice (Article III Section 2: "if said 'estimat)

Collections & liens

If default in payment for 30 days, Board may bring suit to enforce collection or foreclose lien; costs, interest, attorneys' fees added; lien becomes effective as provided in Illinois Condominium Property Act; first mortgage or trust deed r (Article III Section 6: "If a Unit Owner )

Reserves & fees

Board shall build up and maintain a reasonable reserve for contingencies and replacements (Article III Section 2: "The Board shall )

Use restrictions

Property to be used for housing and related common purposes; each Unit or two adjoining Units used together shall be a residence for a single family or other uses permitted by Declaration (Article IV Section 1: "No part of the Pr)

Voting & meetings

Total votes = 100; each owner gets votes equal to percentage of ownership in Common Elements (Exhibit C). Multiple owners: if one present, casts all votes; if more than one, majority agreement required. Developer votes for units owned by De (Article I Section 2: "The total number o)

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