Townhomes Grosse Pointe Circle Homeowners

Key facts from Townhomes Grosse Pointe Circle Homeowners's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (for The Townhomes of Grosse Pointe Circl)

Legal name

The Townhomes of Grosse Pointe Circle Home-Owners Association

Governing law

Illinois Common Interest Community Association Act (Section 1-20) (pursuant to Section 14(d) of the Declara)

Special assessments

May be levied if insurance proceeds insufficient for reconstruction; requires 75% vote of Parcel Owners. (Paragraph 9h(2)(3): estimate of cost tha)

Reserves & fees

Mentioned in context of fiduciary bond amount: at least 150% of estimated annual common expenses including Reserves; bond must cover funds including Reserves. (Paragraph 9a(4): bond in an amount at le)

Insurance

Board may pay deductible as a common expense or, after notice and hearing, assess it against the Parcel Owner(s) who caused the damage or from whose Parcel the damage originated. (Paragraph 9i)

Amendments

Declaration may be amended by a vote of 75% of the Members, executed by the Board of Managers, and recorded. (Section 14(d) of the Declaration provide)

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