Westbrook Terrace Association

Key facts from Westbrook Terrace Association's documents

Reflects the 1997 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

townhome (Title: 'WESTBROOK TERRACE TOWNHOMES')

Legal name

Westbrook Terrace Townhomes Association

Developer / declarant

Standard Bank & Trust Co., as Trustee under Trust Agreement dated October 24, 1991 and known as Trust No. 3378

Governing law

Illinois Condominium Property Act (implied by 'the Act') (Article 6 (insurance) and Article 10 (By)

Assessments & dues

Not fixed; determined annually by Board based on estimated Common Expenses (Article 13, Section 1)

Special assessments

Allowed; requires approval by majority of Unit Owners if total specially assessed exceeds greater of 5 times monthly common expense or $500 (Article 13, Section 2)

Collections & liens

Unpaid assessments constitute a lien on the Unit; may be foreclosed like real estate liens; mortgagee priority except for assessments due after mortgagee takes possession (Article 5, Section 1; Article 13, Sectio)

Reserves & fees

Required; initial payment from each purchaser at closing (amount not to exceed an unspecified limit, possibly 2% of purchase price); non-refundable (Article 13, Section 2)

Pets

Dogs, cats, other customary household pets allowed, subject to Board rules (Article 14, Section 7)

Home business

Limited to professional library, personal business records, telephone calls, correspondence; not a violation (Article 14, Section 15)

Use restrictions

Each Unit shall be used as a residence for a single family (Article 14, Section 1: 'shall be used as)

Voting & meetings

One vote per Unit; total 41 votes; cumulative voting allowed (Article 12, Section 1; Article 11(b))

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