Alpine Townhomes Association

Key facts from Alpine Townhomes Association's documents

Reflects the 1994 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (HOA) for townhomes (Article 1, Section 1.01 - 'The Alpine To)

Legal name

Alpine Townhomes Homeowners' Association

Units / lots

At least 48 (Lots 1 through 48 in Block 9, plus potential future additions from Blocks 24 and 25) (Exhibit C (page 36) and Recital C)

Developer / declarant

Bank One as Trustee under a Trust Agreement dated February 12, 1993 and known as Trust No. yer

Governing law

Illinois not-for-profit corporation law (Recital B - 'has formed an Illinois not-)

Assessments & dues

Initial monthly assessment $20.00 per Lot from commencement through December 31, 1995 (Article 5, Section 5.11)

Special assessments

Board may levy special assessments for capital improvements; if exceeding $5,000 in one year, must be approved by majority of Board and then by majority of members (or 2/3 of Lots in lieu of meeting) (Article 5, Section 5.04)

Collections & liens

Unpaid assessments are a continuing lien on the Lot, enforceable by foreclosure; also personal obligation of Owner; subordinate to first mortgages (Article 5, Sections 5.01, 5.11, 5.13)

Reserves & fees

Annual budget must include a capital reserve amount, segregated into a separate capital reserve account for repairs and replacements to Common Areas and Lot improvements for which Association is responsible (Article 5, Section 5.05)

Pets

Dogs, cats or other household pets may be kept subject to Board rules, provided not kept for commercial purposes and not causing nuisance; must be removed if nuisance upon 10 days written notice (Article 7, Section 7.05)

Leasing & rentals

Yes, with no restriction on right to lease; lease must be in writing and subject to the Declaration, Articles, By-Laws, and Rules & Regulations; failure of lessee to comply is default (Article 10)

Architectural approval

Yes, for any building, fence, wall, antenna, awning or other structure, and any exterior addition, change or alteration; plans and specifications must be submitted to Board or architectural committee for written approval (Article 9, Section 9.01)

Home business

Prohibited: no industry, business, trade, occupation or profession of any kind shall be conducted on any Lot; however, personal professional library, business records, telephone calls and correspondence are permitted as customarily incident (Article 7, Sections 7.07, 7.10)

Maintenance

Association maintains Common Area (including snow removal, street lights, storm water management, insurance, taxes); Owner maintains dwelling and Lot (including exterior surfaces, roofs, siding, landscaping) (Article 4, Sections 4.01, 4.02)

Insurance

Association obtains property insurance on Common Area improvements (all risk, 100% replacement cost); comprehensive general liability insurance ($1,000,000 per occurrence); worker's compensation and fidelity bond for fiscal officers/employe (Article 13, Sections 13.03, 13.04, 13.05)

Use restrictions

Each dwelling shall be used as a residence for a single family and for no other purpose (Article 7, Section 7.01)

Voting & meetings

One vote per Lot, designated Voting Member; before Turnover Date all voting rights in Developer (Article 2, Section 2.02)

Amendments

Articles 3, 5.08, 12 (and certain others) require consent of all Owners; other provisions may be amended by 51% of total votes; Declarant/Developer may record special amendments without other consent for compliance with FNMA, etc., to corre (Article 11, Section 11.05; Article 6, Se)

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