Villas Chestnut Ridge Buffalo Grove Homeowners

Key facts from Villas Chestnut Ridge Buffalo Grove Homeowners's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Villas of Chestnut Ridge of Buffalo Grove Homeowners' Association

Developer / declarant

Parkway Bank and Trust Company, as Trustee under Trust Agreement dated February 7, 2006, a/t/n/t/a #14116 (Preamble)

Assessments & dues

$145.00 per month until December 31, 2007 (Section 6.3)

Special assessments

Permitted for capital improvements, repairs, maintenance, or replacements on Common Area (Section 6.4)

Collections & liens

Assessments are a continuing lien on the Single Family Unit; may be foreclosed like a mortgage lien (Sections 6.1, 6.7)

Reserves & fees

Association may establish reserve fund for repair, maintenance, replacements, taxes (Section 6.2)

Pets

Yes, dogs, cats or other common household pets (Section 9.7)

Leasing & rentals

Yes, but subject to restrictions (Section 10.12)

Parking & vehicles

Prohibited: no trucks, buses, commercial vans, or vehicles with lettering or signs (Section 9.18)

Home business

Permitted: maintaining personal professional library, keeping business records/accounts, handling telephone calls/correspondence (Section 9.3)

Signs & flags

One 'For Rent' or 'For Sale' sign not exceeding 5 square feet per unit; no other advertising signs, billboards, unsightly objects (Section 9.5)

Use restrictions

Single Family Units used only for residential purposes as private residence; no professional business or commercial use except as specified (Section 9.3)

Voting & meetings

Two classes: Class A (all members except Declarant before Transfer Date) - one vote per unit; Class B (Declarant) - three votes per unit until Transfer Date (Section 3.1)

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