Timber Ridge (IL)

Key facts from Timber Ridge (IL)'s documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Developer / declarant

TIMBER RIDGE DEVELOPMENT, LLC

Governing law

Condominium Property Act of the State of Illinois (Article IV, Section 1)

Assessments & dues

Not fixed; determined annually by Board as 'estimated cash requirements' (Article VI, Section 1(a))

Special assessments

Board may levy further assessment if estimated cash requirements prove inadequate; also non-recurring common expenses not in budget may be separately assessed; if total per unit exceeds greater of 5 times monthly common expense assessment o (Article VI, Section 1(c) and (j))

Collections & liens

Unpaid charges and assessments become a lien on the unit; Board may foreclose the lien; costs, interest, and attorney's fees added (Article VI, Section 1(i))

Reserves & fees

Board shall build up and maintain a reasonable reserve for contingencies and replacements (Article VI, Section 1(c))

Pets

Yes, domesticated cats or dogs only (Article VII, Section 1(e))

Leasing & rentals

Yes, subject to Declaration provisions; Developer may lease unsold units without restriction (Article VII, Section 1(n))

Parking & vehicles

All vehicles parked on driveway must be operable and properly tagged; no vehicles on blocks (Article VII, Section 1(b))

Fences

Privacy fence allowed with Board approval; fence cannot exceed 14 feet in length from exterior wall, nor exceed width of unit; cannot be chain link; wood must be properly stained and sealed and kept in good repair (Article VII, Section 1(l))

Architectural approval

Board approval required for decorating, landscaping, or adorning patios/porches; for alterations or construction in common elements; for fences (Article IV, Section 3(a); Article VII, S)

Insurance

Board shall acquire insurance including replacement cost of improvements, liability insurance, worker's compensation (Article V, Section 6(a)-(c))

Use restrictions

Each unit shall be used only for residential purposes (Article VII, Section 1(a))

Voting & meetings

Each unit owner entitled to vote based on percentage of common elements ownership; total votes 100%; multiple owners may divide vote; proxy allowed; installment contract purchasers may vote under certain conditions (Article V, Section 2)

Amendments

Change/modification/rescission by instrument signed and acknowledged by owners of at least 66.6668% of units sold, recorded, must comply with Act; changes to ownership of common elements require unanimous approval of all unit owners except (Article X, Section 5)

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