Villas Fairway Harbor Homeowners

Key facts from Villas Fairway Harbor Homeowners's documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

The Villas of Fairway Harbor Homeowners Association, Inc.

Units / lots

30 residential lots plus Outlot A (WHEREAS: 'lots 1 through 30 and outlot A)

Developer / declarant

West Suburban Bank, as Trustee under Trust Agreement dated May 1, 1995 and known as Trust No. 10312 (Opening recital)

Assessments & dues

Board adopts budget estimating cash requirements; each Owner pays pro rata share; numerator 1, denominator 30. Due in installments per Board schedule. (Article IX, 1 and 4.a)

Special assessments

Allowed for capital improvements or unforeseen expenses; subject to Member petition (20%) and vote; majority can reject (Article IX, 4.d)

Collections & liens

Assessment constitutes lien on Dwelling Unit; Association may foreclose; lien subordinate to first mortgage recorded prior; Association may bid with 2/3 Owner approval (Article IX, 6 and 7)

Reserves & fees

Board shall establish reasonable reserves for contingencies and replacements; replenished through budget or supplemental assessment (Article IX, 4.f)

Leasing & rentals

All lease agreements must be in writing and subject to this Declaration (Article VI, 3)

Parking & vehicles

Trucks, Boats (not in Outlot A), snowmobiles, recreational vehicles, trailers must be parked in garage; repair only in garage (Article VI, 8)

Architectural approval

Yes, for Piers and sea wall changes; no Pier or sea wall change without prior written approval of Property Governor (Article VII, 1 and 2)

Maintenance

Association performs repair or replacement of roofs (Article V, 1(a)(iv): 'repair or replacem)

Insurance

Association obtains insurance on Outlot A improvements (fire and other hazards) and comprehensive public liability ($1,000,000 per occurrence); also directors and officers liability (Article X, 1 and 3)

Use restrictions

All Dwelling Units shall be used only for housing and related purposes; incidental personal business activities allowed (Article VI, 1)

Voting & meetings

One vote per Dwelling Unit; co-owners determine among themselves but only one vote cast per unit (Article IV)

Amendments

Amendment requires 2/3 of Owners, written, acknowledged, recorded; Property Governor may amend without Owner consent to comply with governmental requirements or correct errors until last Dwelling Unit sold (Article XIII, 1 and 2)

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