Parkside Libertyville Homeowners

Key facts from Parkside Libertyville Homeowners's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

homeowners association (Definition 1.1: "Parkside of Libertyvill)

Legal name

Parkside of Libertyville Homeowners Association

Units / lots

56 Lots and 3 Outlots (WHEREAS paragraph: "56 Lots and 3 Outlot)

Developer / declarant

GTIS-HOV Parkside of Libertyville, LLC

Governing law

Common Interest Community Association Act (765 ILCS 160) (Section 1.6, Article X)

Assessments & dues

Declarant (pre-Turnover) or Board (post-Turnover) prepares Proposed Budget by November 1; then assessment equally among Owners except Declarant (Section 7.3)

Special assessments

For additions/alterations not in annual budget, subject to simple majority approval of total Members at meeting called for that purpose (Section 7.6)

Collections & liens

Unpaid assessments become lien on Lot; may be foreclosed like mortgage; Association may bid at sale (Section 7.12)

Reserves & fees

Contingency & Replacement Reserve required; expenditures over $15,000 after Turnover require prior approval of 2/3 Members (Section 7.7)

Pets

Only common domestic household pets (dogs, cats); must reside within Dwelling Unit; not kept outdoors overnight; no breeding for sale (Section 5.1(h))

Parking & vehicles

Commercial vehicles not permitted in any driveway or alleyway overnight (Section 5.1(g))

Maintenance

Association maintains exterior of Buildings including roof (implied by 'exterior of the Building' and listed components like gutters, downspouts, chimneys) (Section 6.3(d))

Use restrictions

Lots used exclusively for attached single-family Dwelling Units (Section 5.1(b))

Voting & meetings

Class A (each Owner, one vote per Dwelling Unit) and Class B (Declarant) until Turnover Date; after Turnover, each Member one vote per unit (Section 3.1, By-Laws 3.1)

Amendments

Prior to Turnover, Declarant may amend unilaterally; after Turnover, 2/3 vote of Members with Declarant's consent so long as Declarant owns any Lots; also requires consent of Village of Libertyville for amendments affecting Common Area or P (Section 8.5)

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