Palos Point Townhome

Key facts from Palos Point Townhome's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

townhome (Palos Point Townhomes)

Legal name

Palos Point Townhomes Owners’ Association

Governing law

Illinois Not-For-Profit Corporation Act (the Association is an Illinois Not-For-P)

Collections & liens

Unpaid assessments, City cure costs, and leasing violation charges become a continuing lien on the townhome and common area (Paragraph 14: 'become a continuing lien )

Reserves & fees

Unpaid charges (including from leasing violations) are collectible with late fees (Paragraph 29: 'including late fees on th)

Leasing & rentals

Yes, with restrictions (max 7 units, owner must occupy 3 years, etc.) (Paragraph 29 (pages 6-7))

Maintenance

Association responsible for repair of shingles and flashing, and replacement of roofs (Paragraph 14: '2. Repair of shingles and)

Voting & meetings

Two-thirds (2/3) or more of total votes for amendments; two-thirds of those appearing in person or by proxy for capital expenditures over 10% and contracts over 3 years (Paragraph 20: 'approved by the townhome )

Amendments

By instrument signed and acknowledged by majority of Board and approved by owners with two-thirds (2/3) or more of total votes; Board by two-thirds (2/3) vote without membership vote can amend to conform to law, correct errors/omissions/inc (Paragraph 20 (pages 8-9))

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