Greystone Gurnee Townhome

Key facts from Greystone Gurnee Townhome's documents

Community type

townhouse association (Greystone Gurnee Townhouse Association)

Legal name

Greystone Gurnee Townhouse Association

Assessments & dues

$____ per month (initial amount blank in document) (Article V Section 6: "the monthly assess)

Special assessments

Approved by vote of Members entitled to cast 2/3 votes at a meeting, plus approval of Declarant until rights cease; emergency assessments by majority of Board (Article V Section 4)

Collections & liens

Unpaid assessments become a lien on the Unit and may be foreclosed; Association may also bring Forcible Entry and Detainer action (Article V Sections 1, 9, 10)

Reserves & fees

Annual budget shall include an amount specifically designated as a capital reserve; such funds aggregated and maintained by the Association (Article V Section 5)

Pets

Yes, dogs, cats, and other common household pets (non-commercial) (Article X Section 13)

Leasing & rentals

Yes, an Owner may lease all of his/her Unit (Article X Section 4)

Parking & vehicles

Cannot be parked >24 hours on Common Area or Unit unless screened (Article X Section 6)

Architectural approval

Yes, Architectural Control Committee has sole and absolute architectural control over any improvements; must comply with Village of Gurnee approved plans (Article VIII)

Signs & flags

Declarant signs until rights terminate; for-sale signs per Architectural Control Committee; family name designation not more than 14 square inches; no other signs (Article X Section 9)

Use restrictions

Each Unit shall be used as a residence for a single family and for no other purposes; garages for parking and storage only (Article X Section 3)

Voting & meetings

Two classes: Class A (owners except Declarant/Developer) - 1 vote per Unit; Class B (Declarant) - 3 votes per Lot held; Class B converts to Class A upon certain events (Article IV Section 1)

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