Stonebridge Homeowners

Key facts from Stonebridge Homeowners's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Page 9: "STONEBRIDGE HOMEOWNERS ASSOCIAT)

Legal name

Stonebridge Homeowners Association

Units / lots

60 single family homes (Recitals: "Stonebridge is planned to inc)

Developer / declarant

HDP Stonebridge LLC, an Illinois limited liability company (Page 9: "by HDP Stonebridge LLC an Illin)

Governing law

Illinois Not for Profit Corporation Act (Section 5.01: "Declarant has caused or s)

Assessments & dues

Set annually by budget; each Owner pays equal share per Lot; initial rate based on Stabilized Budget (Section 6.02: detailed calculation; Sect)

Special assessments

May be levied for specific purposes or to cover unanticipated deficit; requires 2/3 vote of Voting Members; notice must state purpose (Section 6.05: "No special assessment sha)

Reserves & fees

Reasonable late fee may be added by Managers if assessment not paid within 30 days of due date (Section 7.03: "the Managers may add a re)

Pets

Not explicitly; no animals, livestock, or poultry raised, bred, or kept on Common Area; Managers may adopt rules for pets on Common Area (Section 8.04: "No animals, livestock or )

Leasing & rentals

Not explicitly; but Section 2.07 allows delegation of use to tenants and contract purchasers, indicating leasing is implicitly allowed (Section 2.07: "An Owner shall delegate s)

Fences

Fences not permitted on any portion of the Premises except as provided in Village Municipal Code (Section 8.02: "sheds, above ground swimm)

Architectural approval

Yes, for any deck, pergola, fence, outbuilding, Jacuzzi, gazebo, flag pole, or other structures; also subject to Municipality requirements (Section 8.02 and Section 9.10 (Section 9)

Home business

Allowed as ancillary use: maintaining personal professional library, keeping personal business records, handling personal calls/correspondence, conducting an in-home business not prohibited by law (Section 8.01: limitations but exceptions)

Signs & flags

Advertising signs prohibited except 'For Rent' or 'For Sale' signs not more than five square feet; billboards, garage sale signs, unsightly signs prohibited on Common Area (Section 8.03: "f- advertising signs (exc)

Voting & meetings

Prior to Turnover Date: Declarant has all voting rights; after Turnover Date: each Voting Member has one vote per Lot. (Section 5.05: "Prior to the Turnover Dat)

Amendments

By recorded instrument executed by Owners of not less than three-fourths (3/4) of the Lots then subject to the Declaration after initial 40-year term; earlier amendment provisions not specified for initial term (Section 2.03: "for successive periods of)

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