Estates at Gurnee Homeowners

Key facts from Estates at Gurnee Homeowners's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (1.01 ASSOCIATION: The Estates at Gurnee )

Legal name

Estates At Gurnee Homeowners

Governing law

Illinois General Not-For-Profit Corporation Act; not intended to be a master association under 605/18.5 of Illinois Condominium Property Act or a common interest community association under 735 ILCS 5/9-102(a)(8) (Recitals: formed under the Illinois Gene)

Assessments & dues

Board adopts annual budget before December 1; Community Assessment = (estimated Community Expenses + reserves - other income) divided equally among Lots. (6.02: On or before December 1, Board sha)

Collections & liens

Each Charge is a continuing lien on the Lot and personal obligation of Owner. Association may foreclose lien. Lien subordinate to first mortgagee’s mortgage recorded prior to due date. Upon foreclosure by first mortgagee, lien for unpaid Ch (7.01, 7.04: Liens and subordination.)

Reserves & fees

Capital Reserve maintained for capital expenditures; built up from separate/special assessments or Community Assessment. Board determines appropriate level. Boards after Turnover may choose not to build reserves, and no liability for failur (6.06: Capital Reserve.)

Pets

Dogs, cats or other common household pets may be kept on Lot, but not for commercial purposes. No animals, livestock, poultry on Community Area or on Lot other than such pets. (8.04: dogs, cats or other common househo)

Home business

Permitted to extent allowed by law; Resident may keep personal professional library, business records, and handle business calls/correspondence from home. (8.01(b), (c).)

Use restrictions

Each Lot shall be used only as a residence; no industry, business, trade, occupation except in-home business as permitted by law. (8.01(a): each Lot shall be used only as )

Voting & meetings

Prior to Turnover Date, all voting rights vested exclusively in Declarant; after Turnover Date, each Voting Member has one vote per Lot. (5.05 VOTING RIGHTS: Prior to the Turnove)

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