Acacia Association

Key facts from Acacia Association's documents

Community type

Single Family Residential Homeowners Association (Declaration Article 1 and Recital B: 'si)

Developer / declarant

Acacia Credit Fund 9-A, L.L.C., a Delaware limited liability company (Declaration recitals and Section 2.6; We)

Governing law

Illinois Not-For-Profit Corporation Act (implied by Regency Association being an Illinois not-for-profit corporation) (Declaration recitals and Section 2.16)

Assessments & dues

Board of Directors establishes annual assessment; may include operating expenses, maintenance, reserves, etc. (Declaration Sections 4.7, 6.2, 6.3)

Special assessments

Authorized for capital improvements; requires two-thirds (2/3) vote of Members (Declaration Section 6.4 and 4.7.f)

Collections & liens

Each assessment, including fines and costs, constitutes a lien on the Lot and a personal obligation of the Owner; lien may be foreclosed (Declaration Section 6.1, 6.9)

Reserves & fees

Capital reserve fund established; amounts determined by Board (Section 6.5) (Declaration Section 6.5)

Pets

Only domesticated household birds, fish, dogs, and cats are allowed (Declaration Section 3.10)

Parking & vehicles

Not explicitly permitted; driveways and streets restricted to certain vehicle types; no overnight parking of recreational vehicles, trailers, etc. except in garage (Declaration Section 3.14)

Home business

Incidental occupations permitted only if no employees, customers, or clients on the Lot and with prior approval from all authorities; such use must be incidental to primary residential use (Declaration Section 3.1)

Signs & flags

Only the American flag may be flown on a short temporary flagpole attached to front porch with Board approval; free standing flagpoles prohibited; other flags require Board approval (Declaration Section 3.34)

Use restrictions

Each Lot shall be used for residential purposes only, except for marketing by Declarant/Developer (Declaration Section 3.1)

Voting & meetings

One vote per Lot; one vote per Lot maximum; membership appurtenant to Lot (Declaration Section 4.2)

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