Park Lane Home Owners

Key facts from Park Lane Home Owners's documents

Reflects the 1999 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Park Lane Homeowners Association (Article 1.02 (page 9))

Governing law

Laws of the State of Illinois (Article 11.06 (page 36))

Assessments & dues

Board prepares stabilized budget by December 1, estimates annual assessment, notifies Owners by December 15; monthly installments begin January 1; each Owner pays 1/12 of assessment monthly. (Article 6.03 (page 30))

Special assessments

Board may levy special assessments for capital improvements; if cost exceeds $5,000 in one year, approval required by majority of Board and majority of votes cast at meeting, or by instrument signed by owners of 2/3 of Lots. (Article 6.04 (page 32))

Collections & liens

Assessments together with interest, costs, and attorneys' fees are a continuing lien on the Lot; Association may foreclose and also bring personal action against Owner. (Article 6.01, 6.11 (pages 29, 35))

Reserves & fees

Annual budget shall include reasonable amounts held in reserve; capital reserves are segregated in a special capital reserve account. (Article 6.03, 6.05 (pages 30, 33))

Pets

Yes, but limited to no more than 2 dogs and 2 cats over 6 months of age. No wild animals, livestock, poultry, goats, sheep, bees, horses or similar. (Article 4.04 (page 18))

Fences

Front yard fences in setbacks max 3.5 ft; rear/side yard fences behind front facade max 7 ft; fences over 4 ft in rear yard shall be landscaped; finished side facing outward; materials: wood, masonry, wrought iron, or PVC if approved. (Article 5.05 (pages 25-26))

Architectural approval

Yes, for any construction, alteration, including buildings, patios, fences, color scheme changes, and removal of trees or other flora. (Article 5.02 (page 23))

Home business

Home occupations permitted under City Zoning Ordinance. (Article 4.03 (page 18))

Setbacks / home size

Defined areas within each Lot shown on Plat of Subdivision where structures shall not be constructed. (Article 1.11 (page 10))

Maintenance

Association maintains Common Area (parks, drainage, signs, etc.), provides landscape maintenance (except watering and flower gardens), snow removal on Alley, Driveways and sidewalks, and exterior painting every 4 years. Owner is responsible (Articles 3.02-3.06, 4.12 (pages 14-16, 2)

Voting & meetings

One vote per Lot; maximum one vote per Lot; if multiple record owners, they designate voting in writing to Board; Declarant designates for Lots it owns (Article 2.02 (page 11))

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