Exmoor Oaks Exmoor Oaks

Key facts from Exmoor Oaks Exmoor Oaks's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Article I Definitions, 'Unit Ownership' )

Legal name

Exmoor Oaks, an Association

Governing law

Condominium Property Act of the State of Illinois (Article I Definitions, 'Act' (Pg. 6) and)

Assessments & dues

Not fixed; determined annually by Board estimate; due semi-annually on Jan 1 and July 1. (Article VI, Sections 1-2 (Pg. 24-25))

Special assessments

Board may levy further assessment if estimated cash requirement inadequate; notice 10-30 days before meeting. Also assessments for additions/alterations to Common Elements require approval of 2/3 of total votes. Emergency assessments (dange (Article VI, Section 4 (Pg. 25) and Secti)

Collections & liens

Unpaid assessments become a lien against the Unit Ownership; may be foreclosed as a real estate mortgage. Lien effective per Act. Encumbrances have priority only after written notice to them of unpaid common expenses. Board may also bring a (Article VI, Sections 9-10 (Pg. 27))

Reserves & fees

Board shall consider reserves for contingencies and replacements; must consider replacement cost/estimated useful life, return on investment, reserve study, financial impact on Owners, ability to obtain financing. Excess funds allocated to (Article VI, Section 1 (Pg. 24) and Secti)

Pets

Yes, but limited. One household pet plus small caged birds and fish in tanks not larger than 3' x 2' x 2'. (Article VII, Section 7 (Pg. 29))

Leasing & rentals

Yes, subject to Article VIII. (Article VII, Section 1 (Pg. 27-28) and A)

Parking & vehicles

Overnight parking prohibited. (Article VII, Section 15 (Pg. 30): 'may n)

Home business

Prohibited, with exceptions: maintaining personal professional library, keeping personal business/professional records, handling personal business phone calls or correspondence. (Article VII, Sections 11 and 14 (Pg. 29-)

Use restrictions

Yes. 'No part of the Property shall be used other than housing and related purposes for which the Property was designed.' Each Unit to be used as a residence for a single family. (Article VII, Section 1 (Pg. 27-28))

Voting & meetings

One voting member per Unit Ownership; number of votes equals percentage of ownership in Common Elements (total votes = 100); voting member may be the Unit Owner or designated person in writing; proxy allowed. (Article V, Section 3 (Pg. 15-16))

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