Waterford Place (IL)

Key facts from Waterford Place (IL)'s documents

Community type

single-family residential subdivision (The Subdivision and all Lots therein sha)

Legal name

Waterford Place

Developer / declarant

Waterford Place, LLC (by Waterford Place, LLC)

Assessments & dues

Board prepares annual budget assessed pro-rata to lot owners; equal monthly installments (Section 4. Annual Budget)

Special assessments

Board may levy further assessment if budget inadequate; if assessment for any lot exceeds $300, requires 66 2/3% approval of lot owners (Section 7. Special Assessments)

Collections & liens

Association may lien lot for unpaid assessments after 30 days due; lien must be recorded within 2 years of debt, expires 2 years after recording; foreclosure or other legal enforcement allowed (Section 24(g) Liens; Section 8(b))

Reserves & fees

Association may build up and maintain reasonable reserve for operation, contingencies, replacement (Section 6. Reserves)

Pets

Yes, only domesticated house pets (No animals other than domesticated house)

Parking & vehicles

Passenger cars prohibited overnight on public roadways within the subdivision (Passenger cars shall not be parked overn)

Fences

White vinyl fencing only; height between 4 and 6 feet; no fences without written permission except perimeter fence by Developer; swimming pool fences also white vinyl (Section 16. FENCING)

Architectural approval

Developer approval required for building, outbuilding, tower, satellite dish, swimming pool; exception for satellite dishes ≤20" diameter placed in rear and obscured (Section 4(k) Developer Approval)

Home business

Owner may maintain personal professional library, records, telephone calls (This Section shall not be construed to p)

Setbacks / home size

Front: 25 feet; side/rear: 8 feet; larger if required by zoning (Section 4(a) Setback Lines)

Maintenance

Owners maintain their Lots; Association maintains entryway signage, landscaped median, lake (with Crystals), and any perimeter fence built by Developer (Section 23; Section 22; Section 17)

Insurance

Association obtains insurance on Association Property (sign, median, lake, outlots) (Section 21. INSURANCE)

Use restrictions

Only single-family residences; no business, trade, profession, commercial, religious, educational uses (Section 3. PROPERTY USE)

Voting & meetings

One vote per lot; Developer entitled to votes per lots owned; multiple owners must agree on vote or first present casts it (Section 2. Votes and Voting Rights)

Amendments

Developer can amend until all lots sold; after that, 2/3 vote of lot owners; no amendment can divest Association of maintenance responsibilities in paragraphs 22 and 23 (Section 25. AMENDMENT OF PLAT/DECLARATIO)

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