Springcreek (IL)

Key facts from Springcreek (IL)'s documents

Community type

Condominium

Legal name

Springcreek Condominium Association

Developer / declarant

Springcreek, LLC (Preamble and Article I Sections 1.07, 1.)

Governing law

Condominium Property Act of the State of Illinois (WHEREAS and Article IV Section 4.01)

Assessments & dues

Board prepares and adopts annual budget and levies assessments (Section 5.07(h)(ii), (iii))

Special assessments

Board may authorize additions/alterations/improvements to Common Elements and pay by special assessment (Section 4.09(a))

Collections & liens

Board may impose lien for Common Expenses under the Act; foreclosure of lien for Common Expenses may be bid on by Board with 2/3 vote approval (Sections 5.07(j) and Act reference)

Reserves & fees

Board may impose charges for late payments (Section 5.07(h)(xii))

Architectural approval

Board prior written consent required for additions/alterations/improvements to Common Elements or to Unit if it alters structure or increases insurance cost (Section 4.09(b))

Maintenance

Association responsible for Common Elements, structural parts, systems serving more than one Unit; Unit Owner responsible for interior of Unit, doors, windows, internal installations, decorating, Limited Common Elements (Section 4.06(a), (b))

Insurance

Board may select substantial deductibles if economically justified (Section 5.08(k))

Use restrictions

Units designed and intended for one-family dwelling; other uses permitted by Declaration (Article I Section 1.17)

Voting & meetings

Each Unit Ownership entitled to number of votes equal to percentage of ownership in Common Elements (per Exhibit C); total votes = 100; if 30% or fewer Units own >50% of votes then percentage by number of Units applies (Article I Section 1.11, Article V Sectio)

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