Everett Farm Homeowners

Key facts from Everett Farm Homeowners's documents

Reflects the 1997 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Article I, Section 1: "Everett Farm Home)

Legal name

Everett Farm Homeowners

Developer / declarant

American National Bank and Trust Company of Chicago as Trustee under Trust Agreement dated September 10, 1997 and known as Trust No. 60029907

Assessments & dues

Maximum $0 per Lot until December 31, 1998 (Article III, Section 3(a))

Special assessments

Board authorized to adopt supplemental budget and adjust assessments if estimated cash insufficient; assessment becomes effective 60 days after notice (Article III, Section 3(c))

Collections & liens

Assessments together with interest and collection costs are a charge on the Lot and a continuing lien; Association may record notice of lien; personal obligation of Owner at time due; grantee jointly and severally liable; lien subordinate t (Article III, Sections 4 and 5)

Reserves & fees

Any surplus assessments held as reserves shall be held in trust for the Members and applied to future budgets (Article III, Section 2)

Insurance

Association may maintain comprehensive public liability insurance, workers compensation, property damage, vandalism, malicious mischief (Article II, Section D(1) and (2))

Use restrictions

Lots intended for improvement with single family dwelling units (Article I, Section 7)

Voting & meetings

Two classes: Class A (all Members except Declarant) one vote per Lot; Class B (Declarant) three votes per Lot until either (a) 75% of Lots conveyed to non-Declarant Owners or (b) three years after conveyance of a Lot by Declarant, whichever (Article II, Section C(2))

Amendments

Prior to any conveyance, by Declarant; after conveyance, by written instrument signed by not less than 75% of outstanding Owners (including Declarant) (Article VI, Section 3)

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