Fairfield Vil Homeowners

Key facts from Fairfield Vil Homeowners's documents

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

Community type

Homeowners' Association ("Long Grove Common Homeowners’ Associati)

Legal name

Long Grove Common Homeowners’ Association

Developer / declarant

First Illinois Bank of Wilmette, as Trustee under Trust Agreement dated October 15, 1986 known as Trust No. 9 (First paragraph of Declaration)

Governing law

General Not-For-Profit Corporation Act of the State of Illinois (Section 2.1)

Assessments & dues

Determined each year by Board; not specified in declaration (Section 3.3)

Special assessments

Board may levy special assessments; if exceeding $[blank] per Lot per year, requires approval of at least one-half of votes cast at meeting (Section 3.4)

Collections & liens

Unpaid assessments constitute a lien on the Lot and Dwelling Unit; Board may foreclose (Section 3.7)

Reserves & fees

Such reasonable reserves, if any, as Board deems appropriate (Section 3.2(b))

Voting & meetings

Two classes: Class A – one vote per Lot; Class B (Developer) – five votes per Lot until conversion (Section 2.3)

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