Ashbrook Townhomes

Key facts from Ashbrook Townhomes's documents

Community type

townhome_association (Recitals: 'Ashbrook Townhomes' and 'Resi)

Legal name

Ashbrook Townhomes

Developer / declarant

DONVEN HOMES, INC.

Governing law

Illinois General Not-For-Profit Corporation Act (Recitals: 'under the Illinois General No)

Assessments & dues

Not fixed; determined annually by Board budget; initially Basic Assessment set by Developer (see how_dues_are_set). (Section 6.02, 6.08)

Special assessments

May be levied by Board to pay expenses for specific purpose (including alterations, additions, improvements) or to cover unanticipated deficit. Requires affirmative vote of at least two-thirds (2/3) of Voting Members casting votes. Must be (Section 6.05)

Collections & liens

Each Charge is a continuing lien on the Dwelling Unit and a personal obligation of the Owner (Section 7.01). Residential Association can foreclose lien (Section 7.03). Lien is subordinate to first mortgages recorded prior to due date (Secti (Sections 7.01, 7.03, 7.04)

Reserves & fees

Capital Reserve segregated and maintained for capital expenditures on Dwelling Unit Exteriors. Board determines appropriate level based on periodic review of useful life of improvements. Budget must disclose percentage of Townhome Assessmen (Section 6.06)

Pets

Pets allowed inside Dwelling Units subject to Board rules; no animal raised, bred, or kept in Dwelling Unit Exterior or Lot Area. Board may prohibit certain species. Any pet causing nuisance may be removed upon 3 days written notice (Sectio (Section 3.16)

Leasing & rentals

Owner may lease all (not less than all) of Dwelling Unit, provided lease is in writing and subject to Declaration; no transient or hotel purposes (less than 30 days or with hotel services). Board may adopt rules (Section 3.19). Additionally (Sections 3.19, 14.01)

Home business

Prohibited; Owner may maintain personal professional library, keep personal business records, and handle personal phone calls/correspondence, but shall not meet with clients on the Lot (Section 3.14 A). (Section 3.14 A: 'Owner shall not meet wi)

Maintenance

Association (Section 3.09 A(i): 'Normal maintenance, repair and replacement of the roof'). (Section 3.09 A(i))

Insurance

Each Owner must maintain fire, extended coverage, vandalism, malicious mischief insurance on Dwelling Unit for 100% replacement value, deductible not more than $500, naming Residential Association as co-insured (Section 4.02). (Section 4.02)

Use restrictions

Each Dwelling Unit shall be used only as a residence; no industry, business, trade, occupation, or profession conducted (Section 3.14 A, C). (Section 3.14 A, C)

Voting & meetings

Prior to Turnover Date, all voting rights vested exclusively in Developer (Section 5.05). After Turnover Date, each Dwelling Unit has one Voting Member; majority vote of Voting Members present at a quorum meeting (Section 5.05). Special ass (Sections 5.05, 6.05, 11.02)

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