Tiffany Farms Homeowners

Key facts from Tiffany Farms Homeowners's documents

Community type

single_family_subdivision (Section 1.12 HOME definition: 'that port)

Legal name

Tiffany Farms Homeowners

Units / lots

134 (initial Unit 1 Subdivision) (Exhibit B: 'Lots 1 through 134, both inc)

Developer / declarant

United Homes, Inc. (First paragraph: 'This Declaration is ma)

Governing law

Illinois General Not-For-Profit Corporation Act (Introductory paragraph: 'The Association)

Assessments & dues

During Initial Development Period, max $80 per year per Lot multiplied by Index Ratio; after that, set by Board annually (Section 6.08(b); Section 6.02)

Special assessments

Levy allowed after Initial Development Period for specific purposes or unanticipated deficits; requires 2/3 vote of Voting Members present (Section 6.05)

Collections & liens

All Charges are a continuing lien on the Lot and personal obligation of Owner; Association may foreclose lien (Section 7.01; Section 7.03(ii))

Reserves & fees

Capital Reserve required; percentage of Community Assessment added to it. Also Wetland Reserve if required by Corps permit. (Section 6.06 CAPITAL RESERVE)

Pets

Yes, in Homes; Board may adopt rules including prohibiting certain species, requiring clean-up, and setting aside dog run areas (Section 8.06 PET)

Leasing & rentals

Yes, tenants and contract purchasers are permitted; Owner must delegate use rights to them (Section 3.04 DELEGATION OF USE; Section )

Architectural approval

Before Declarant no longer holds title to any portion of Development Area, exterior additions, alterations, improvements require prior written consent of Declarant (Section 9.06 ARCHITECTURAL CONTROL)

Home business

Limited: personal professional library, keeping business records, handling personal business calls or correspondence from Home (Section 8.03 proviso)

Signs & flags

Generally prohibited except as permitted by Board or under Article Nine (Declarant's promotional signs during development) (Section 8.01 INDUSTRY/SIGNS)

Insurance

Association shall obtain fire and all risk coverage on Community Area improvements; comprehensive public liability insurance; may obtain fidelity bonds (Section 4.01 COMMUNITY AREA INSURANCE)

Use restrictions

Homes shall be used only as a residence (Section 8.03 RESIDENTIAL USE ONLY)

Voting & meetings

Before Turnover Date: exclusively in Declarant. After Turnover Date: each Voting Member has one vote per Lot (Section 5.05 VOTING RIGHTS)

Amendments

By affirmative vote of Voting Members representing at least 75% of total votes or by instrument executed by Owners of at least 75% of Lots; certain sections require consent of all Owners, all Mortgagees, Declarant, or Village (Section 10.02 AMENDMENT)

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