Alpine Townhome Association

Key facts from Alpine Townhome Association's documents

Reflects the 1994 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Recital B)

Legal name

Alpine Townhomes Homeowners' Association

Developer / declarant

Bank One as Trustee under a Trust Agreement dated February 12, 1993 and known as Trust No. 10601 (Opening paragraph)

Governing law

Illinois not-for-profit corporation (Section 1.01)

Assessments & dues

For the period from commencement through December 31, 1995, monthly assessment is $20.00 per lot. Thereafter, set by Board annually. (Section 5.09)

Special assessments

Board may levy special assessments for capital improvements. If total in one year exceeds $5,000, must be approved by majority of Board and then by majority of votes cast at a meeting (or by instrument signed by owners of 2/3 of lots). (Section 5.04)

Collections & liens

Assessments are a continuing lien on the lot. Association may foreclose by action, also may bring Forcible Entry and Detainer action. (Section 5.11)

Reserves & fees

Annual budget includes a capital reserve amount, segregated and used solely for repairs/replacements to Common Areas and portions of lots Association is responsible for. (Section 5.05)

Pets

Dogs, cats or other household pets may be kept subject to Board rules and regulations, provided not for commercial purposes. (Section 7.06)

Leasing & rentals

Any Owner may lease any lot; no restriction on right to lease. (Article 10)

Architectural approval

If Board or committee fails to approve or disapprove within 90 days after submission, approval not required. (Section 9.01)

Use restrictions

Each dwelling shall be used as a residence for a single family and for no other purposes. (Section 7.01)

Voting & meetings

Prior to Turnover Date, voting rights exclusively in Developer. After Turnover Date, each Voting Member (one per unit) has one vote. (Section 2.02)

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