Woodland Meadows HOA

Key facts from Woodland Meadows HOA's documents

Community type

Likely condominium regime under Illinois law; documents refer to 'Homeowners Association' but also 'Declaration of Condominium Ownership' and Condominium Property Act (2002 East Amendment uses 'Declaration Of)

Units / lots

Lots 1-9 in Woodland Meadows East Subdivision (Second Amendment, Exhibit A)

Governing law

Illinois Condominium Property Act (765 ILCS 605/18.5(h)(1)) referenced in voiding amendment for correction of errors (Voiding Amendment (2006), WITNESSETH par)

Assessments & dues

For Woodland Meadows North as of March 1, 2004: $94.00 for one-story units, $123.00 for two-story units (2004 North Amendment, Minutes of Meeting)

Collections & liens

Unpaid charges from leasing violation become a lien collectible as other assessments (2002 East Amendment, Article 10(5))

Reserves & fees

Excess funds may be placed in reserve account (East 2002 amendment) (2002 East Amendment, Article 5, Section )

Leasing & rentals

Owners prohibited from leasing units (East 2002 amendment); existing leases allowed until expiration; hardship waiver for 12 months (2002 East Amendment, Article 10)

Insurance

General liability insurance minimum $1,000,000; Directors and Officers liability coverage; property insurance for replacement cost; other insurance as Board determines (North 2004). For East (2003): property insurance, general liability min (Second Amendment (2003) Article 2, Secti)

Voting & meetings

Amendments require owners having at least 75% of total vote (East and North originally); attempted change to majority of units present or proxy (North 2005, voided) (Second Amendment (2003), WHEREAS; 2002 E)

Amendments

For East: instrument executed by owners having at least 75% of total vote, recorded. (Second Amendment (2003) and 2002 East Am)

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