Sandburg HOA Dick HOA

Key facts from Sandburg HOA Dick HOA's documents

Community type

Condominium (All documents refer to "Condominium Asso)

Governing law

Illinois Condominium Property Act (765 ILCS 605) (Multiple references; e.g., Recitals in A)

Assessments & dues

Assessed as Common Expenses by the Board. Not further detailed. (Amended, Restated Declaration No.2 Secti)

Special assessments

Not explicitly addressed.

Collections & liens

Amounts paid by Association for mechanic's liens or LCE restoration become a lien on the Unit and payable on demand. (Amendment to Declaration No.7 (Units 370)

Leasing & rentals

Yes, but with restrictions: lease of whole Unit permitted; minimum term 12 months (otherwise deemed transient/hotel); written lease required; copy to Board within 10 days of signing/occupancy; amendments must also be provided. (Fifth Amendment No.3 Section 7.01(m) (fo)

Insurance

Board may handle deductibles as common expense or assess to responsible owner. (Fifth Amendment No.3 Section 5.08(j))

Use restrictions

Implied by lease restrictions (no transient/hotel use) and designation as Units for independent use. (Fifth Amendment No.3 Section 7.01(m) def)

Voting & meetings

Voting based on percentage ownership in Common Elements. Majority defined as owners of >50% of undivided interest. Amendments require 2/3 vote of board unless petitioned. (Amended, Restated Declaration No.2 Secti)

Amendments

For No.2: Board may amend by 2/3 vote at board meeting; Unit Owners holding 20% of votes may petition within 30 days for unit owner meeting; unless majority of votes cast reject, amendment ratified. (Recitals in Amended, Restated Declaratio)

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