The Ponderosa Townhomes

Key facts from The Ponderosa Townhomes's documents

Reflects the 1987 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1(a) – reference to Condominium )

Developer / declarant

Marine American National Bank (formerly American National Bank) as Trustee under Trust Agreement dated April 17, 1987, Trust Number 01-1191 (Preamble and signature block)

Governing law

Condominium Property Act of the State of Illinois (Section 1(a), 2)

Special assessments

Board may levy further assessment if budget inadequate, upon notice, effective with next monthly payment due more than 10 days after notice. (Bylaws Article III Section 2)

Reserves & fees

Board shall build up and maintain a reasonable reserve for contingencies and replacements. (Bylaws Article III Section 2)

Pets

One dog or one cat per Unit may be kept, subject to rules. No other animals. No commercial breeding. Nuisance pet must be removed on 7 days written notice. (Section 19(f))

Leasing & rentals

Yes, but subject to Board’s first option to purchase or lease on same terms (30-day notice required). Lessee must be subject to declaration; lessor remains liable. (Section 18)

Use restrictions

Each Unit shall be used as a residence for a single family. No other purposes. (Section 19(a))

Voting & meetings

Majority of total votes (in person or by proxy) for Unit Owner meetings (Bylaws Article I Section 3)

Amendments

Declaration may be changed by instrument signed by all Unit Owners, with notice to all lien holders via certified mail, and recorded. Provisions conflicting with the Act may not be amended. Changes affecting Declarant/Developer require thei (Section 21)

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