Prairie Vista

Key facts from Prairie Vista's documents

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

Community type

condominium (Title and throughout)

Legal name

Prairie Vista Condominium Association (Section 8(b)(3))

Developer / declarant

CIP, I.O.C., an Illinois limited liability company

Governing law

Illinois Condominium Property Act (Paragraph 1, definition of "Act")

Special assessments

In case of insufficient insurance proceeds, proposed special assessment for restoration must be approved by 75% of Unit Owners of damaged building(s) at a meeting held within 30 days after final adjustment of claims or 90 days after disaste (Section 9(h))

Reserves & fees

Reserves defined as sums paid by Unit Owners separately maintained by Board for purposes specified by Board or Condominium Instruments. (Section 1 definition of "Reserves")

Home business

Permitted only to the extent of maintaining personal professional library, keeping personal business records, handling personal business calls, and conferring with clients in the Unit. (Section 11(p))

Insurance

Board may pay deductible as Common Expense or assess against the Unit Owner(s) who caused the damage after notice and hearing. (Section 9(i))

Use restrictions

Each Unit shall be used for residential purposes (apartments) or such other uses permitted by the Declaration, and for no other purposes. No industry, business, trade, occupation, or profession of any kind shall be conducted. (Section 11(a) and 11(b))

Voting & meetings

Each Unit Owner votes in proportion to percentage ownership in Common Elements; total votes = 100. Majority of Unit Owners means owners of more than 30% in aggregate interest. (Section 1 definitions (Majority) and Byl)

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