Deerpath Inn Condo

Key facts from Deerpath Inn Condo's documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Deer Path Inn Condominium Association

Developer / declarant

Cole Taylor Bank as Trustee under Trust No. 956416 (preamble)

Governing law

Condominium Property Act of the State of Illinois (Article I.A)

Assessments & dues

Board prepares annual budget and sets assessments based on budget; each unit owner pays proportionate share based on percentage of common element ownership. (Article V.G)

Special assessments

Any non-recurring common expense not in budget or increase over budget, subject to approval by affirmative vote of at least 2/3 of unit owners voting at a meeting if the total payment assessed per unit exceeds two times the most recent mont (Article V.G)

Reserves & fees

Interest at prime rate (as defined by Harris Trust and Savings Bank, Chicago) plus 5% per annum, or such greater percentage as permitted by Illinois law. (Article V.C)

Voting & meetings

Each unit owner has one vote; total 12 votes equally divided among unit owners. (Article V.A 'The aggregate number of vot)

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