Devonshire Townhomes

Key facts from Devonshire Townhomes's documents

Community type

homeowners association for townhomes (not condominium) (Recitals: 'Townhomes of Justice at Devon)

Legal name

Townhomes of Justice at Devonshire Homeowners Association, NFP

Developer / declarant

State Bank of Countryside, not individually, but as Trustee under Trust Agreement dated August 7, 1997, and Trust Number 97-1820 (Recitals, Article 1 Section 1.05)

Governing law

Illinois General Not-For-Profit Corporation Act of 1986 (Bylaws Article II, Section 2.02)

Assessments & dues

Board prepares budget by December 1st each year; notifies Owners in writing by November 15th; monthly installments due on first of each month starting January 1st. (Article 5 Section 5.03)

Special assessments

Board may levy special assessments for capital improvements; if over $5,000 in one year, must be approved by majority of Board and thereafter by majority of votes cast at a meeting or by instrument signed by Owners of 2/3 of the Lots. Devel (Article 5 Section 5.04)

Voting & meetings

One vote per Townhome (Bylaws 4.02); Voting Member designated by Owner(s); prior to Turnover Date Developer holds all votes; after Turnover Date each Voting Member has one vote; action requires majority of Voting Members present except as o (Article 2 Section 2.02, Bylaws Article I)

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