Olde Schaumburg HOA

Key facts from Olde Schaumburg HOA's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Common interest community (Homeowners Association) (Article 2.1: 'a common interest communit)

Developer / declarant

United Land Development, Inc., a Nevada Corporation (First paragraph of Declaration)

Governing law

Illinois Code of Civil Procedure Section 9-102(a-d) and Illinois Compiled Statutes (as amended) (Article 2.1, Article 12)

Special assessments

Allowed for capital improvements; requires majority Board approval and majority vote of members (or 2/3 written consent) (Article 4.4)

Collections & liens

Delinquent assessments become a lien on the unit; may be foreclosed; Village may also file liens for maintenance work (Article 4.8, 4.9, 11.2)

Reserves & fees

Annual budget includes reserves for repairs and replacements; capital reserves segregated in special account (Article 4.3, 4.5)

Pets

Yes, dogs, cats, or other household pets subject to Board rules; no breeding or commercial purposes (Article 5.9)

Leasing & rentals

Yes (Article 10: 'Other than the foregoing, t)

Architectural approval

Yes, for all exterior construction or alterations (Article 9.1, 9.2)

Home business

Permitted only if occasional and not regular; personal professional library, records, phone calls allowed (Article 5.2: 'a resident will not be con)

Signs & flags

For Sale or For Rent signs only where determined by Board; Developer's sales sign allowed temporarily (Article 5.15, Article 3.1)

Setbacks / home size

Per permitted building line as shown on Plat of Subdivision; no nearer than that line; corner units have front yard determined by permanent address (Article 9.6(g))

Use restrictions

Yes; each unit for single family dwelling only; no commercial, industrial, religious, educational uses (Article 5.2: 'used only for housing... n)

Voting & meetings

Each member (owner) presumably has votes; majority of votes required for assessments and amendments (Article 4.4 (special assessments: 'major)

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