Crystal Tree HOA

Key facts from Crystal Tree HOA's documents

Reflects the 1988 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Residential community with Townhomes and Single Family Homes (Definitions (1)(ss) and (1)(pp))

Developer / declarant

LaSalle National Bank as Trustee under Trust No. 111613 (not individually); beneficial interest held by Crystal Tree Venture (a joint venture between Crystal Tree Ltd. and PCF Investments II Limited Partnership) (Preamble and Definition (1)(p))

Assessments & dues

Not fixed; determined by the Annual Budget and allocated according to Percentage Interest (Definitions (1)(b), (1)(dd); Section 7(a)

Special assessments

Not explicitly named but Board may assess expenses directly caused by an Owner's action (Section 7(a)) and may assess party wall repair costs (Section 11(c)(v)). General authority to levy assessments to replenish reserves (Section 11(g)(iii (Sections 7(a), 11(c)(v), 11(g)(iii))

Collections & liens

Unpaid Common Expenses (including interest, costs, attorneys' fees) constitute a lien on the Owner's Townhome/Single Family Home. Lien is subordinate to first mortgagee but has priority for expenses first due after certain events. Associati (Section 7(a); Section 16(d) regarding in)

Reserves & fees

Maintenance Reserve for common property established from moneys deposited at closing and supplemented by regular assessments. Board may also establish other reserves required by government entities. (Section 11(g)(ii) and (iii))

Leasing & rentals

Yes, transfers are unrestricted (Paragraph 14(a) from Table of Contents) but subject to limits on lease terms (Paragraph 14(b)). Full text of 14 not provided; summary from Table of Contents. (Table of Contents: Paragraph 14 'Transfe)

Use restrictions

Implicit: each Townhome/Single Family Home is intended for use as a single family residence (Definition (1)(ss): 'intended for use as)

Voting & meetings

Voting Members as defined in Article II of the By-Laws; each Owner is a Voting Member (Definitions (1)(xx) and (1)(w); Section )

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