Restrictive Covenants & By-laws

Governing the operation of the Association.

contents


details

ARTICLE 01 - DEFINITIONS
For the purpose of brevity and clarity, certain words and terms used in this Declaration are defined as follows:

1.01 Act:
Common Interest Community Association Act.

1.02 Association:
The Lake Wildwood Association, Inc. an Illinois not-for-profit corporation, its successors and assigns.

1.03 Board:
The Board of Directors of the Association, as constituted at any time or from time to time, in accordance with the applicable provisions of the By-Laws.

1.04 By-Laws:
The Amended and Restated By-Laws of the Association, attached hereto as Exhibit B.

1.05 Charges:
The Community Assessment, any special assessment levied by the Association and/or any other charges or payments which an Owner is required to pay or for which an Owner is liable under this Declaration or the By-Laws.

1.06 Common Interest Community:
Real estate other than a condominium or cooperative with respect to which any person by virtue of his or her ownership of a partial interest or a unit therein is obligated to pay for the maintenance, improvement, insurance premiums or real estate taxes of Community Areas described in the Declaration which is administered by the Association.

1.07 Community Instruments:
All documents and authorized amendments thereto recorded by the Association, including, but not limited to, the Declaration, By-Laws, Plat, and rules and regulations.

1.08 Community Area or Common Property:
All portions of the Property other than the Lots.

1.09 Community Assessment:
The amounts which the Association shall assess and collect from the Owners to pay the Common Property Expenses and accumulate reserves for such expenses, as more fully described in Article Six.

1.10 Declaration:
Shall mean and refer to this Declaration and any amendments made hereto.

1.11 Development:
All portions of property that forms the Association including Common Property and Lots.

1.12 Home:
A single family home.

1.13 Lot:
A subdivided area which is designated in the Plat as a “Lot.”

1.14 Management Company or Community Association Manager:
A person, partnership, corporation, or other legal entity entitled to transact business on behalf of others, acting on behalf of or as an agent for an association for the purpose of carrying out the duties, responsibilities, and other obligations necessary for the day to day operation and management of any property subject to this Act.

1.15 Meeting of the Board or Board Meeting:
Any gathering of a quorum of the members of the Board of the common interest community association held for the purpose of conducting Board business.

1.16 Member:
Means the person or entity designated as the legal owner and recognized by the Association as having voting and membership privileges.

1.17 Original Declaration:
Means the Declaration recorded by the Original Developer with the Marshall County Recorder of Deeds Office on March 15, 1968 and any Amendments thereafter.

1.18 Owner:
A Record owner, whether one or more persons, of fee simple title to a Lot, including a contract seller, but excluding those having such interest merely as security for the performance of an obligation.

1.19 Person:
A natural individual, corporation, partnership, trustee or other legal entity capable of holding title to real property.

1.20 Plat:
A plat of subdivision which is recorded with the Original Declaration with respect to the Premises, incorporated herein by reference only.

1.21 Prescribed Delivery Method:
Mailing, delivering, posting in an Association publication that is routinely mailed to all Owners, or any other delivery method including electronic, that is approved in writing by the unit owner and authorized by the community instruments.

1.22 Property Owners Association:
The Association or the Lake Wildwood Association, both of which may be used interchangeably.

1.23 Record:
To record in the office of the Recorder of Deeds for the County.

1.24 Reserves:
Those sums paid by Owners which are separately maintained by the Association for purposes specified by the Declaration and By-Laws of the Association.

1.25 Voting Member:
The individual who shall be entitled to vote in person or by proxy at meetings of the Owners, as more fully set forth in the By-Laws.