Peoria Liberty Villas III

Key facts from Peoria Liberty Villas III's documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Peoria Liberty Villas Homeowners Association III

Units / lots

26 lots (based on Exhibit A enumeration) (Exhibit A lists Outlot B, Lot 58, Lots 6)

Governing law

Illinois Not-For-Profit Corporation Act (WHEREAS, the Association was organized o)

Assessments & dues

by the Board as Common Expenses, including reserves (the actual and estimated expenses incurr)

Special assessments

not explicitly addressed, but Board may allocate assessments on other than pro-rata basis for maintenance benefiting less than all Owners (If the repair, replacement or maintenanc)

Reserves & fees

defined as sums separately maintained by Board for specified purposes (Reserves — Those sums paid by Lot Owners)

Pets

yes, limited to two dogs or two cats or one dog and one cat per Dwelling Unit (for each Dwelling Unit there shall be pe)

Leasing & rentals

discouraged but not prohibited (Renting or leasing of Dwelling Units for)

Parking & vehicles

not allowed to be stored or parked on any Lot (No inoperable vehicle may be stored or p)

Home business

prohibited (no industry, business, trade, occupation, or profession of any kind, commercial, religious, educational, or otherwise, for profit, altruism, exploration, or otherwise) (No industry, business, trade, occupation)

Signs & flags

prohibited except Association-approved locations; Developer may place For Sale signs on unsold lots (No “For Sale” signs, advertising, or oth)

Insurance

Association obtains fire insurance for Common Areas, comprehensive public liability, property damage, and worker's compensation (Section 10A: The Association shall acqui)

Use restrictions

yes, single-family residential for the elderly (Each Dwelling Unit shall be used for sin)

Voting & meetings

one vote per Lot Owner (Each Lot Owner shall be a member of such)

Amendments

approval of a majority of Lot Owners; changes affecting Service Provider require prior written consent of Service Provider (Section 19: Amendments — provisions may )

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