HomeMy WebLinkAboutORDINANCES-1989-103-O-89V
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AN ORDINANCE
Amending Sections 5-4-3-5(A) and
5-4-3-5(A)(10) Eliminating Inspections for
the Resale of Condominium Units
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: That Section 5-4-3-5(A) of the City Code of
the City of Evanston, 1979, as amended, be
and it is hereby further amended to read as follows:
5-4-3-5
RESALE OF UNITS:
(A) A unit owner other than a declarant offering for
sale his own unit, shall provide to the purchaser
concurrently with execution of any contract for
sale, a copy of the declaration, bylaws and rules
and regulations of the Association, and the items
as described below.
1. A statement setting forth:
a. The amount of the monthly common expense
assessment;
b. Any unpaid common expense or special
assessment currently due and payable from the
selling unit owner;
c. The information on the total actual
expenditures, by category, made for all
repairs, maintenance, operation or upkeep of
the common areas of the building in which the
unit is located within the last three (3)
years as found in the regular books of the
Association. If the property has not been
occupied as a condominium for a period of
three (3) years, the information, if
available, shall be provided for,such lesser
time as the property has been so occupied.
2. A statement of any other fees payable by the unit
owners.
3. A statement of any future capital expenditures
approved by the Association or the Board of Directors.
4. A statement of the amount of the reserves for
capital expenditures and of any portions of those
reserves designated by the Association for specified
projects.
5. The most recent regularly prepared balance sheet and
income and expense statement, if any, of the
Association.
6. The current operating budget of the Association.
7. A statement of any judgments against the
Association, and the status of any pending suits to
which the Association is a party, of which it has
knowledge.
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103-0-89
8. A statement describing any insurance coverage
provided for the benefit of unit owners.
9. A statement of whether the board of managers has
received written notice from any Federal, State or
local government of any violations of any applicable
codes with respect to the unit or of the condominium
common elements.
• SECTION 2: All ordinances or parts of ordinances
in conflict herewith are hereby repealed.
SECTION 3: This ordinance shall be in full force
and effect from and after its passage,
approval and publication in the manner provided by law.
- - introduced: LAG- ��� y 1989
Adopted: ��v��lL..y9�( 1989
Approved: ;C6 , �% 1989
Mayor
ATTEST:
City C erk
r
Ap ray ed as to f r
Corporati'ln Counsel
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