04-22-14 09:23 FROW- 7-168 P0002/0064 F-464 ily O7GER4612 Pe DECLARATION OF CONDOMINIUM OWNERSHIP AND BYLAWS, EASEMENTS, RESTRICTIONS AND COVENANTS FOR THE ‘THE INGLESIDER CONDOMINIUK DEPT-O1 RECORDING $527. Teonid TRAN ees) 0g/26/97 s1s08200 WWFECG K—-97—-224617 ‘COOK COUNTY RECORDER i Ny This Declaration is made and entered into this isth day of I May, 1997. by. ‘The Irving Schonbrun Revocable Trust by ite trustees (hereinafter sometimes referred to as "the Declarant" © i é WITNESSETE: 3 3 WHEREAS, the Declarant has heretofore executed a certain Declaration of Easements, Covenants and Restrictions relating to JT inglesider Homeowners* Association (hereinafter referred to as the Master Declaration") which was recorded on , 1997, as Document No. ; and WHEREAS, the Declarant is the owner in fee simple of certain veal estate, hereinafter described, in Chicago, Cook County, Tllinois: and which real estate is portion of the Parcel described in the Master Declaration; and My WHEREAS, the Declarant intends to and does hereby submit said real estate together with the building, structure, improvements, and other permanent fixtures of whatsoever kind now or hereafter thereon, and all rights and privileges belonging or in any way pertaining thereto to be owed by Declarant and by cach successor Pn interest of Declarant, under that certain type or method of ownership commonly known as “CONDOMINIUMY, and to submit the property to the provisions of the condominium Property Act of the State of fllinois, as amended from time to time; and WHEREAS, the Declarant, has elected by this Declaration to establish, for the benefit of such Declarant and for the mutual benefit of ali future unit owners or occupants of the Property, oF any part thereof, which shall be known as ‘TRE INGLESIDER CONDOMINIUK 1 20% securing ptt aod Z - e DATED: G8 aires i ay 1. 3 i04-22-"14 09: iF | iH 23 FROM 7-168 = P0003/0064 F-464 Ma MM cf such other name as may be subsequently adopted pursuant to the Act by the Declarant or the Board, certain easements: and rights in, Ret by ENT upon said real estate and certain mutually beneficial Sestrictions and obligations with respect to the Proper use, conduct, and maintenance thereof; and WHEREAS, the Declarant has further elected by this Declaration to declare that the several unit owners, occupants, mortgagees; and wo ue*Nersons acquiring any interest in the Property shall at ali opner Rujoy the benefits of, and shall at all times hold their {Rterests subject to the rights, easements, privileges. and in fuvtnerance of a plan to promote and protect the cooperative aspect fertntership and to facilitate the proper administration of suck property and are established for the purpose of enhancing and perfecting the value, desirability, -and attractiveness of the property. NOW, THEREFORE, THE IRVING SCHONBRUN REVOCABLE TRUST, as the legal title holder heretofore described, and for the purposes above set forth, DECLARES AS FOLLOWS: ARTICLE DEFINITIONS For the purpose of brevity and clarity, certain words and terms used in this Declaration are defined as follow: 4. "Act" means the *Condominium Property Act", as amended from time to time, of the State of Tllincis. 2. "Declaration" means the instrument by which the Property ig submitted to the provisions of the Act, and as hereinafter H provided, and such Declaration as from time to tine amended. 3. "Parcel" means the lot or lots, tract or tracts of Land, * described in the Declaration, submitted to the provisions of the Act. sent ZTIPZILS04-22-14 09:24 FROW- i fi ii 7-168 P0004/0064 F-464 (a) "Property" means all che jend, property and space compromising the Paxcel, 21) improvements and structures erected, Sengtructed ox contained therein of ere reen, including the building cor gi) easements, rights. and appurtenances belonging thereto: and and gl xeures and equipment intended foe"tne mutual use, benefit oF enjoyment of the unit owners, nded feed to the provisions OF the Act. {e) ‘“unit" means part of theProperty designed and intended for any type of independent use and eeeth ig designated on the plat as a unit. (f) "Common Elements" meang all portions of the property except the units, including Limited Common elements unless otherwise specified. (g) "Person" “means natural individual, corporation, partnership, Trustee or other ‘Tegal entity capable of nolding title to real property- (ny “Unit Owner" means the person OF persons whose estates OF interest, individually 07 Gnitectively. aggregate tee simple absolute ownership of @ unit. (4) *Majoricy" ox, "Majority of Ee Unit Owners" means the owners of more than fifty percent (50%) in the aggregate in Gnterest of the undivided Ywnership of the common, elements. ANY inttified percentage of the unic Ouirr! means such percentage in speciggregate an interest of such owneyided ownership. *MajOrity® Che Magonsty of the Members of the, Gourd of Managers" means more chan fifty percent (50%) of the ‘total number of persons ll Constituting such Board pursuant to the Bylaws. Any specified percentage of the total number OE persons constituting such board pursuant to the Bylaws, 7 (Gj) "Plae* means a plat or plats of survey of the Parcel and of all units in the Property. Junmicted to the provisions of the vertical delineation of all such units. 9 (k) "Record" means £0, record in the Office of the recorded + oz, whenever required, to file Da the Office of the Registrar of B ie a » a04-22-14 09:24 FROW- 7-168 P0005/0064 F-464 Titles of the county wherein the property is located. i lt 4. “Condominium Instruments" means all documents and guthotized Srendmants thereto recorded pursuant to te provisions authorise neluding the Declaration, bylaws, and Plat~ 5. "Common Expenses" means the proposed or actual expenses attecting the Property, including reserves, if 70¥. lawfully assessed by the Board of Managers of the unit Owners’ Association. 6. "Reserves" means those sums paid by unit owners which are separately maintained by the Board of Managers for purposes specified by the Board of Managers of the condominium instruments. 7. ‘Unit Owmers' Association" means the association of all unit pmers, acting pursuant to Bylaws through its duly, elected poard of Managers. ii 8. "Purchaser" means any person or persons, other than the peveloper, who purchase (5) a unit in a bona fide transaction for value. | “peclarant" means the Irving Schonbrun Revocable Trust, and its successors and assigns, or such other persons o2 entities as the declarant or his executor or trustee or peneficiary of the Trustee may from time to time designate. 10. “Limited Common Elements" means a portion of the Pomme elements so designated in the declaration as being reserved for the elements so train unit or units to the exclusion of other units, Bee, ee Eat ‘not Limited to balconies, terraces, Patios and parking spaces or facilities. * 11, "Building" means all structures, attached or unattached containing one of more units. i 52. ‘Occupant means a person, or persons, other than 4 unit owner, ia possession of one or more units. 33, *voting Member" means the person entitled to exercise all voting power in respect to each unit ownership. 14. "Common Expenses” means the proposed or actual expenses aftecting the property including reserves, if ay: lawfully assessed by the Board of Managers of the Unit ‘Owners’ Association. STIPZILGsiete: 04-22-"14 09:24 FROM 15. "Reserves" means those 5 7-168 P0006/0064 F-464 sums paid by Unit Owners which are separately included by the Board sue dnagers and so designated by ghe Board of Directors. 2. Des delineated on the survey, ¥ G’part of the Declaration and “ION described as follows: ‘The West 170.80 fe gubdivision of 34, Township 3: ARTICLE 1I UNITS All units located eferred hereto as are situated on et. of the North 50 feet 0! on the property are ‘Exhibit "A" and made ‘the parcel legally ¢ Block 4 of Busby's the South half of the Southwest g North, Range 14, Meridian intending to North 50 Feet which lic “include and ‘including all Rast of the quarter. of Section ‘Third Principal ‘chat part of said eBGidst of the 20 Foot alley running North & seth through the center of caid Blo ALL units ownership as set forth ac follows: the following are the percentage of UNIT UNIT UNIT 6101-1 6103-1 952-2 953-2 955-1 957-2 959-1 6103-2 6103-2 951-2 953-2 955-2 957-2 959-2 6101-3 6103-3 951-3 953-3 955-3 957-3 959-3 943.80 746.52. 580.14 621.09 616.83. 628.72 952-41. 851.29 739.16 578.20 611.87 619.34 626.59 856.27 855.42, 755.59 580.00 612.32 614.81 629.90 866-15 ck. jocated on the property have the percentage each unit: sq. ft. 5.74668 sq. ft. 5.0841¢ sq. ft. 3195098 sq. ft. 4.22998 oq. ft. 4.20088 sq. ft. 4128188 sq. ft. 5.79848 sq. ft. 5.7983% sq. ft. 5.0339 sq. ft. 3.93788 sq. ft. 4.16708 sq. ft. 4.21798 sq. ft. 4.26748 sq. ft- 5.83165 sq. ft. 5.82568 sq. ft. 5.1458 sq. ft. 3.95008 sq. ft. 4.17018 sq. £t- 4.18708 sq. ft. 4.27638 eq. ft. 5.89888 —~T00% “ ye a TIVLZIG04-22-"14 09: | 09:25 FROM 7-168 = P0007/0064 F-464 he real property or ite address is commonly known 36 6101 South, Ingleside, 951-959 Ingleside Street, Chicago, Tllinois: PERMANENT REAL ESTATE INDEX NUMBER: 14 000 Which survey is attached as exhibit "A" to the Declaration of Which suite recorded in the Office of the Recorder of Deeds of Cook County, Illinois: it is understood that each unit consists of the space enclosed or bounded by the horizontal and vertical planes set forth and YEeneified ae a unit in the delineation thereof in Bxhibit "A". The legal description of each unit shall consist of the identifying Tusberor symbol of such unit followed by the legal description of the Property, as shown on “Exhibit "A". Except as provided by the Ket, noUnie Owner shall, by deed, plat or otherwise, subdivide oF in any other manner cause the unit to be separated into any tracts or parcels different from the whole unit as shown on Exhibit "A". 2. _CERYAIN STRUCTURES NOT. structural components of the building, and no pipes Situuite, public utility lines, ducts, flues and shafts, situated “ithin a unit and forming part of any system serving one or wore ther units, or the common elements, shall be deemed part of said - unit but are part of the common elements. ARTICLE 11 COMMON ELEMENTS 1. DESCRIPTION. Except as otherwise in this Declaration provided, the conmon elements shall consist of all portions of the Property, oxeept the units. without limiting the generality of the Poregoing, the common elements shall include the land, outside seiko and driveways, landscaping, storage areas, stairways, Sierances and exits, halls, lobby, corridors, basement, roof, Structural parts of the building, component parts of walls, floors ska ceilings, and pipes, ducts, flues, shafts, and public utility Tines serving the common elements or more than one unit. LTIVEILG04-22-14 09:25 FROW- a 7-168 P0008/0064 F-464 2. OMERSHID OF COMMON ELEMENTS. Bach unit owner shall, own an undivided interest in the common elemancs o © tenant in common ae gil the other unit owners of the Property, and, except as with alge limited in the Declaration, shalt have the right to usc Che common elements for all purposes fmeidental to the use and Cheupancy of his unit as a place of Tesidence, amd such other Sec tpemeal uses permitted by this Declaration: which right shall be Zopurtenant to and un with his unit. Such right shall extend to appwunit owner, and the agents, servants. cenants, family members. eS invitees of each unit owner. each “anit owner's interest: shall and Spressed by a percentage amount ands, cope ‘determined, shall be expresastant and may not be changed withou’ unanimous approval zomayment ro this Declaration consented Co in writing by all unit aeiee. The Declarant has determined each unit's corresponding percentage of ownership in the common elements as set forth in vereene Gr ef this declaration and each ‘nit Owner accepts such determination. ARTICLE 2V GENERAL PROVISIONS AS TO UNITS AND COMMON ELEMENTS a (ISSION_OF TY TO _PROVISI LI) eee property is hereby submiteed to the provisions of the Act 2. NO.SEVERANCE OF OWNERSHIP. No unit ovtee shall execute any deed, mortgage, lease or other “instrument affecting title to any anit ownership without including Nnerein both nis interest in ERE nic and his corresponding percenrags of ownership im the thon elements, it being the intentio® tereof to prevent any comenage of such combined ownership. | ny such deed, mortgage. $eye or other instrument, purporting, 5° affect the jease fig also the other shall be deemed. and taken to exclude the sae meee go omitted even though the 1arter is not expressly mentioned or described therein, 3. ENCROACHMENTS AND _UTSLITY BASEMENTS. If any portion of the common elements encroaches upon SAY: unit, or if amy unit ene caches upon any portion of the comen elements or any other ore ag a result of che construction. repair, reconstruction unit gmeat or shifting of any buildings © valid mutual easement sectyaxist in favor of the owners of Che common elements and the respective unit owners involved 6° the extent of the encroachment pesesga easement shall not exist in favor of any unit owner who creates an encroachment by fis intentional willful or negligent 8 Conduct or that of his agent~ 2tevesds04-22-14 09:25 FROW- 7-168 P0009/0064 F-464 Ameritech, cable companies, Illinois Bell Telephone Company, eoples' Gas Company, Commonwealth Edison Company and al -ovher ‘Public utilities serving the property are hereby granted the right fo lay, construct, renew, operate, and maintain conduits, cables, pipes, wires, transformers, switching apparatus and other equipment elated to their service to the property, into and through the common elements and the units, where reasonably necessary for the purpose of providing utility services to the property. 4. BASEMENTS AND RIGHTS 70 RUN WITH.LAND. All easements and rights described ‘herein are easements and rights running with the land, perpetually in full force and effect, and at all times shall inure to the benefit of and be binding on the, and its successors and assigno, and any unit owner, purchaser, mortgagee, and other person having an interest in the property. or any part of portion Phereof. Reference in the respective Deeds of Conveyance, or in any Mortgage or Trust Deed or other evidence of obligation, to the easements and rights described in this article, or described in any other part of this Declaration, shall be sufficient to create and reserve such easements and rights to the respective grantees, mortgagees, and Trustees of such unit ownership as fully and completely as though such easements and rights were recited fully and set forth in their entirety in such documents. S. EASEMENTS FOR CONSTRUCTION, The Declarant, its contractors and subcontractors, and their respective agents and employees shall have the right and easement to use the common elements for the purposes of ingress, egress and access to the building and the property as may be required to connection with construction work at the building on the parcel. 6. EASEMRNT IN PAVOR OF THE ASSOCIATION. Hach unit is hereby subject to an easement in favor of the Association, its employees and agents to enter such unit as may be necessary to carry out the duties imposed upon or permitted by the Association. 7. STORAGE SPACE LIMITED COMMON ELEMENTS. Bach deed, lease, mortgage, or other instrument affecting a unit which has a Storage Space Limited Common Element ("Storage Space") shall include the perpetual and exclusive use of the specific Storage Space 0 eilocated and appurtenant thereto. Any such deed, lease, mortgage or other instrument purporting to affect a unit without also Gneluding a reference to the Storage Space appurtenant thereto shall be deemed and taken to include the said Storage Space and the perpetual and exclusive use thereof even though not expressly Rentioned or described therein. No one other than the zr9v29e604-22-14 09:26 FROW- 7-168 P0010/0064 F-464 unit Owner or an Occupant shall nade any interest, in and CO 2 Srorage Space for any pUTpOses unless permission in writing Af ei¥en by the Association sad Che Unit Owner having the perpetual ges exclusive use of the Storage Space, Mai storage Spaces shall and Grject. to uch reasonable Tv18e ‘and requiations as may be be tished by the Association. Te storage space limited common cota tichall be assigned to the unite by deed. The Declarant has chemeyght to amend the allocstion Te Storage Spaces pursuant tO paragraph 6 hereof. pursuant to the Illinois Condomiajum act, the Declarant or the poard of Managers may provide for une assessment, in connection board Zpenditures for the limited conmon elements, of only those units to which such ‘Limited common”elements are assigned. 6 crantces_aNbD_MODIPICATIONS BY THE, PSCLARSTS, ‘until the first annual meeting of Unit owns ‘s callec the Declarant. or its successors or assigns. ‘shall have the right to change or modify the condominium instruments, “hich change or modification shall be the five upon che recording thereof Brovided, however, that the provisions of paragraph (P) Section 2 of Article XIv of the Bylaws shall not be amended, modified or changed without the consent of Gny Fixer Mortgagee affected | OF GheMShd provided further Chet any Fright shail only be exercised ay to bring the Declaration into compliance with the Act or to conform the Declaration to the itbairements of FHLMC, FNMA, HUD, OF WA. (aj) to correct clericay or typographical errors in the Declaration, OF (in) to add on pegEProperty co that which bee been submitted to the provisions of the Act pursuant to Section 35 of the Act. in Pretherence of the foregoing, a Powe *Crapied with an interest iS hereby reserved and granted to the Developer to make any change 07. Mi modification as authorized hereunder On pehalf of ‘each Unit Owner Lee ee eh EEh eek Bach Deed, Mortgage. Syst Deed, other evidence OF Setigation or othér instrument affecting 4 unit and the acceptance thereof shall be ‘deemed to be afbrant aad acknowledgment Of, ane & cherent to the reservation Of, the power to the Declarant ‘as aforesaid. ARTICLE V COMMON EXPENSES, MORTGAGES, AND REAL ESTATE TAXES 1. COMMON _EXPENSES. Bach Unit Owner shall pay his proportionate share of the Sous ‘of administration, ee Pr ee ae ea Tepences incurred in conformanc® wi Q oxner re Master Declaration and Py isd a len} ~ agreed upon. SASKAR 3.onas B8ch unae Owns 3 Ee je comton: eemeneg ownership04-22-14 09:26 FROW- 7-168 P0011/0064 F-464 payment thereof shall be in such amouaty and at such times a¢ Eulcenined in the manner provided in the ‘Bylaws - fl aeeerMjard shall collect the assessments ‘against Unit Owners provided for in the Master pS aration upon due notice thereor and Beer remit all. proceeds collected monthy to the conservancy Homeowners’ Association or its duly Guthorized agent. In the event tent a Unit Owner does not pay said Gssessment, the Board shall cnet reheless remit the Proper amount. to the ‘Conservancy Homeowners’ Revetiarion, the board shali have all of Che powers granted to it neeotn co collect Said assessments and said assessments shall be Seemed to be common expenses awfully agreed upon as set forth in the Illinois Condominium Property Act. qe shall be the duty of the Declarant to Day & proportionate share of the comon expenses for each Unit which has not been sold by such Developer. The proportionate Share shall be in the same by foeng ive percentage of ownership in the common elements set forth in this Declaration. il 3£ any Unit Owner shall fail or refuss 5 make any payment of the common expenses when due, the amount thereof shall constitute the coMn the interest of such Unit Owner in tne property, and upon ane recording of notice thereof by the board of Managers, or, if the Developer is the Manager or has 2 majority of seats on the tee eof Managers and the Manager ox board fails to do so, any Unit Sener may record such notice and upon the recording of such notice Chereot, by any Unit Owner, it shall ve © yen upon such Unit buner's interest as provided in the Act. 2. SEPARATE. MORTGAGES. Bach Unit Owner shall have the right, subject to the ‘provisions herein, to make a separate rittgage or encumbrance on his respective anit together with his respective ownership interest in the common element's. No unit Owner shall have the right or authority to Make or create or Cause to be made or created any mortgage oF @ncunbrance or other lien on or affecting the property or any part thereof, except only to the or atreciind Junic and his vaspective ownership qnterest in the common elements. 3. SEPARATE REAL. ESTATE TAXES It is understood that real estate taxes are to De separately taxed to each Unit Owner for his eeretend his corresponding percentage of ownership in the common unst wats. a8 provided in the Act. In the event that for any year shenentS os are not separately taxed to each ‘Unit Owner, but are such On the property as a whole, then each Unit Owner shall pay faxed joportionace share thereof in accoraence with his respective percentage of cwnership Unterest in the common elements. 10 LTIVEILG04-22-"14 09:27 FROW- ve 7-168 P0012/0064 F-464 upon authorization by the affirmative vote of not less than & ” majority of the unit Owners af 8 Testing duly called for such wpove, the Board of Managers Socing on behalf of all Unit Ovnere purpowhave rhe power ro seek relief from OF in connection with the shatsement or ievy of amy such | taxes: ‘special assessments OT aferges, and to charge and collect tu) Pexpenses incurred in chargction therewith aS common expenses. ARTICLE VI INSURANCE a. FIRE AND HAZARD INSURANCE. The hoard of Managers chall acquire as a common expense. Policy Oo policies of insurance acquire the common elements and the unhts against loss or damage inet tive, Lightning and other hazazde Sontained in the customary from ford extended coverage. vandalisiy ‘and malicious mischief ebereemants for the full insurable ‘Teplacement value of the common engeracs ana the units wrircen in the tm of, and to require a provision in such policy that the Sroceeds thereof shall be payso's Prove Menbers of the Board, as Trustess for each of the Unit to. re, an the percentages established in article Il. me full insurable zeplacement cost of Se units chal} include the zeplacoment -cost value of ment Cfons, betterments, alteration end improvements made in and to ny Gnit, provided, however, the ang ya shall not be responsible for Upraining insuzance on such BOaitions, betterments, alterations °F Ymproverents unless and agtil such Owner shall report same to the Board and request the otra, an writing, to obtain such snsurance, and shall make cerangements satisfactory to the wetea to reimburse phe board for any additional premiums Upon the failure of such Owner to do 50. ay Board shall not be obligated to. ‘apply any insurance proceeds. FO estore the affected Unit to 4 « caalPfon better chat the condition tisting prior to the making of Such additions, betterments, Siterations or improvements. all said policies of insurance () shall contain standard mortgage clause endorsemenes in FAver of the mortgagee OT mortdagees of each unit, if any, a¢ chert respective interest "AY appear, (2) shall provide that che Sagurance, as to the interest of 1.6 paved04-22-14 09:27 FROW- i 7-168 P0013/0064 F-464 the Board, shall not be invalidated by. any act or neglect of any U#it owner, (3) shall provide that notwithstanding any provision UHEC of which gives the insurer an election [0 restore damagé in ree be making a cash settlement therefore. such option shall not be ixercisable ia the event the Unit Ownect elect to sell the property or remove the property from ‘the provisions of the Ret. (4) PFeii contain an endorsement to the effect ‘that such policy shall shea terminated for nonpayment of premiuns without a lease ten not Gays’ prior #ritten notice to the mortdaghe of each unit, (5) Shall contain a clause or endorsement whereby the insurer waives ony Tight to be subrogated to any clan ‘against the Association, any Sfficers, Members of the Board, rhe Trustse, the Developer, the inaging agent. if any, their respective ‘employees and agents and ree SAIL Owners and occupants. and (6) shail contain a “Replacement the VEndorsement". The proceeds of such insurst™® ‘shall be applied by the Board or by the corporate Trustee SF agent on behalf of the BY ra for the reconstruction of the building O ‘shall be otherwise Gisposed of, in accordance with the provisions of this Declaration and che Act; and the rights of the mortgage ‘of any unit under any Standard mortgage clause endorsement te such polities shall. Sorwithstanding anything to the contrary ‘therein contained, at all cee be subject to the provisions of the het with respect to the applicacion of insurance proceeds f° reconstruction of the building. iil the Board may engage the services of, and such insurance may be payable to, a bank or trust company authorized to do, execute, be paveopt trusts in fiLinois to. act as insuran® ‘trustee, OF as agent or depository as an alternative to acting as Trustee, and to agetive and disburse the insurance proceeds ‘resulting from any loss Upon such terms as the Board shall deren? ‘consistent with he provisions of the Declaration. The fess ‘of such bank or trust Fompany shall be common expenses. 7 in the event of any loss in excess of §20,000.00 in the aggregate, at the Board's discretion ‘of upon the request of any aggredeymer, the Board shall solicit bids from reputable contractors. payment by an insurance company to the poard, or to such corporate Trustee or agent, of the proceeds of any policy, and the cope t of a release from the Board or such corporate Trustee OF Jgent of the company’s liability under such policy, shall 8 zrev ILS04-22-" : | il 14 09:27 FROW- 7-168 P0014/0064 F-464 constituce a full discharge of such insurance company, and such EQmpany shall be under no obligation to inquire into the terms of any trust or agency agreement under which proceeds may: beheld purouane hereto, or to take notice of any standard mortgage clause Bidorsement inconsistent with the provisions hereof, or see to the Spplication of any payments of the proceeds of any policy to the board of the corporate Trustee. Each Unit Owner shall inform the Board, in writing, of additions, alterations or improvements made by said Unit Owner to fis unit and the value thereof which value may be included in the full replacement,.insurable cost for insurance purposes. | aY {Nerease premium charge therefore shall be assessed to that Unit Qunes under the provisions of Section 9 of the Act. If a Unit- Owner fails to inform the Board as provided above and a penalty is Seeessed in the adjustment of loss settlement, the Unit Owner shall be responsible for such penalty. 2. APPRAISAL. The full, insurable replacement cost of the property, including the units and common elements, shalt Pe Setermined from time to time (but not less frequently than once in any twelve month period) by the board. The board shall have the guthority to obtain an appraisal by a reputable appraisal company $s selected by the Board. The cost of such appraisal shall be common expense i 4. PUBLIC LIABILITY AND PROPERTY DAMAGE INSURANCE. The Board of Managers. shall acquire, as 2 common expense, and shall have the authority and duty to obtain, comprehensive public jiability insurance against claims and liabilities arising i? connection with the ownership, existence, use or management of the property in anounts deemed sufficient in the judguent of the Board Bf Managers, insuring the Board of Managers, the Unit Owners esociation, the management agent, if any, and their respective employees, agents and all persons acting aS agents. The Develepes Shall be included as an additional insured in his capacity as Unit Guner and Board Member. The Unit Owners shall be included as _ additional insureds but only with respect to that portion of the bremises not reserved for their exclusive use. The insurance shal’ Rover clains of one or more insured parties against other insured parties. The insurance shall contain a waiver of any rights 5¢ Etbrogacion by the insuring company against any of the above named insured persons. 32.6 1B. ov t04-22-14 09:28 FROW- 7-168 P0015/0064 F-464 4. WORKMEN! S COMPENSATION AND OTHER INSURANCE. The Board of Managers shall acquire, as a common expense, workmen's compensation inguranee as may be necessary to comply with applicable laws and such other forms of insurance as the Board, in its judgment, shall glect to obtain, including, but not limited to, insurance for the - $esociation, its officers and manager against liability from good faith actions allegedly beyond the scope of their authority. S. WAIVER. Rach Unit Owner hereby waives and releases any and all claims which he may have against any other Unit Owner, the Association, the Homeowners' Association, its officers, Members of the Board,’ and the board of Directors of the Homeowners’ Association, the declarant, the managing agent of the building, if any, and their respective employees and agents, for damage to the common elements, caused by fire or, other casualty, to the extent that such damage is covered by fire or other form of casualty insurance. 6. NOTICE. ‘The Board of Managers shall notify insured persons concerning the cancellation of, insurance obtained pursuant to the terms of this Article. ARTICLE VIL ADMINISTRATION AND OPERATION 1. ADMINISTRATION, The administration of the property shall be vested in the board of Managers consisting of the number of persons, who shall be elected in the manner provided in the Bylaws Contained herein, as Articles XIII, XIV, XV, XVI, XVi1, and XVIII. The Developer, after the recording of this Declaration, may cause to be incorporated under the laws of the State of Illinois, a not- for-profit corporation (herein referred to as "the Association” under the name of THE INGLESIDER, or similar ame, which corporation, or the board of Managers if nine is forméd, shall be the governing body for all the Unit Owmers for the maintenance, repair, replacement, administration, and operation of the property, including the common elements and for such other purposes as are hereinafter provided. The board of Directors of the Association : shall be deemed to be the Board of Managers referred to herein and in the Act. 2. PWTIES AND POWERS OF THE ASSOCIATION. The Unit Owners; Association is responsible for the overall administration of the 14. LTIVZILG04-22-14 09:28 FROW- 4 7-168 P0016/0064 F-464 _ property through its duly elected soard of Managers. The Duties PePGowers of the Association and its Board ‘shall be those set and power ats Articles of Incorporation, the BYlaN ‘and this eelaration; provided. however, that (i) the terme and. provisions Re the Act shall control in the event of an inconsistency between of the Acro che one hand, and this Declaration, | tie articles of Theorporation and the Bylaws on the other hand, (ad) the terms and provisions of this Declaration shall contro? ‘in the ovent of any provneistency between this Declaration, on the one nand, and the seegeles of incorporation and the Bylaws on the other hand. 3. INDEMNITY. The Members of the board and the officers therest or of the Association shall not be liable to the unit Guners for any mistake of judgment, or amy acts OF omissions made Qnngood faith as such member or officers of pehalf of the Unit grades or the Association unless any such contract shall have beer fade in bad faith or contrary to the provisions of this made ition’ The lisbility of any Unit Omer arising oof of any peeteret nade by such members or officers or out of the aforesaid Sortrity shall be limited to such proportion of the total indore), thereunder as his percentage interest in the common Liabitie’ bears to the tota) percentage interest of ‘all the Unit caer ta the common elements. Each agreement made by such members Owners Gare or by the managing agent, if any, on pehaat of the Unit or Officsrsife Aesociation shall be executed by such members oF Oeticers or the managing agent, as the case may be, a agents for the Unit Owners or for the Association. 4. BORRD\G DETERMINATION BINDING, in the event. of 377 aispute or disagreement between any Unit Owners Telating to the Sroperty. or any question or interpretation of ‘appligation of the provisions of the Declaration or Bylaws, the determination thereof by the Board shall be final and pinding on each and all of such unit Owners. at ADMINISTERING OF PROPE! RIOR TO EI ON_OF_INITI BOARD OF MANAGERS. Uneil the election of the initial Board of Managers, the same rights, titles, powers: privileges, trusts, duties and obligations vested in or imposed upon the Board of Managers by the Act and in the ‘Declaration and Bylaws shall be heid Monagerformed by the Developer, The election of The initial Board of Managers shall be held not later than sixty (60) days after the conveyance by =ne Declarant of three-fourths (3/4) of the 15. STIVZILG04-22-14 09:29 FROW- 7-168 P0017/0064 F-464 units or three(3) years after the recording of the Declaration, units clr is earlier. The Developer shall give 2° east twenty-one a1) days notice of such meeting to elect ‘the initial Board of Managers and shall provide to any ‘unit Owner within three (3) wana ger days of the request, the names, addresses ‘and the telephone Nombers (af available), of each unit Qwne® jntitied to vote at such Resting. any Unit Owner shall be provided with the same meeting. «on within three (3) working days of the request, with iBgpect to each subsequent meeting to cece menbers of the Board of Managers. In the event the ‘Developer does not call = meeting for the purpose of election of the Board of Managers within the time provided in this section 5, Unit owert holding twenty percent (20%) of the interest in the association may call a meeting by ollg’a petition for such mecting with the ‘Developer, after which said Unit Owners shall have Quthority to send notice of said Sasting to the Unit Owners and to hold such meeting. ig the initial board of Managers is not. elected by the Unit owners at the time ‘so established- che ‘Developer shall continue Oenete gor a period of thizty (30) days whereupoy written notice of SiS cesiqnation shall be sent to ali the Unit Owners entitled to vote at such election. within sixty (60) days following the election Of 4 majority of the Board of Managers other than the Developer, ‘the Developer shall deliver to the board of Managers: (a) All original documents as recorded or Ft 4 pertaining to the property, its administration, and the ‘Association, such as the Declaration, Bylaws, Articles of Incorporation. other condominium Deci@tnents, annual reports, minutes, Tulse and regulations, instracts, leases, or other agreements ‘entered into by the Developer, If any original documents are unavailable, a copy "2y Pe provided if certified by affidavit, of ‘che developer, or a officer or agent of the Developer, a5 being 2 complete copy of the actual document recorded or filed; tb) A detailed accounting by the Developer. setting forth the source and nature of receipts and expenditures in connection with searcenagenent, maintenance, and operation of the property and copies of all insurance policies and a list of any loans or advances to the Association which are outstanding; 16. LPIVEILG04-22-14 09:29 FROW- N 7-168 P0018/0064 F-464 (c) Assceiation funds, which shalt hove been at all time - segregated from any other monies of the Declarant; (4) A schedule of all real oF personal property. equipment and fortures belonging to the Association, {neluding documents and Jeorring the property, warranties, 2f 0Y: ‘for ali xeal and bérsonal property and equipment, deeds, title insurance policies, and all tax bills; (e) A list of all litigation, administrative action and arbitrations involving the Association, 27 notices of governmental bodies involving actions taken or Which may be taken. engineering bodies WTeccural drawings and specifications 38 ‘approved by any governmental authority, ei) other documents filed with any other governmental, all governmental Cortificates, correspondence involving enforcement of any Association involving Unit Owners, originals of all documents relating to everything listed in this subparagraph; (£) any contract, lease, or other agreement made prior to the etection of a majority of the Board of Managers other than the Seclarant by ox on behalf of Unit Owners. 6. CANCELLATION OF CONTRACTS. Any contract, other than iaundey machine leases, Or other agresten made prior to the laundyy of a majority of the board of Nanager® other than the electtant. by or on behalf of Unit Owers, individually OT - Collectively, the Unit Owners’ Qesociation or the board of Schagers, which extends for a period of mor that two (2) years Manaderne recording of the Declaration, Shall be subject to from siueiom by more than one-half (2/2) of the votes of the Unit Gainers other than the Declarant cast && ‘special meeting of oenhars called for that purpose during 3 period of ninety (90) days forlowing expiration of the two (2), ¥See period. At lease sixty (2a) days prior to the expiration of the twa (2) year period, the (OO Oe? Managers. ox, if the Board 46 still under Declarant Bosra oi, than the ‘Board of Managers oF th ‘Declarant shall send conte to every Unit Owner, notifying thes ‘of this provision, what Roti Cects, leases and other agzeements, ar affected, and the procedure for calling a meeting of ‘he Unit Owners for the purpose Pree eeting on termination of such conbessri: leases or other Sgreoments. During the ninety (207 day period the other party to ego contract, lease oF other agresment Ynall also have the right of cancellation L ts 71904-22-14 09:29 FROW- 7-168 P0019/0064 F-464 ARTICLE VIIT MAINTENANCE, ALTERATIONS, DECORATING = 1. x 2 ,_REPI REPLACEMENTS. Bach Unit Ownes snail furnish and be responsible for, af tis own expense, all Of” the maintenance, repairs, and replacements within bis own unit the maiance, repaire and replacements of ‘che common elements shall waaaceng@ned by the Board as part of the ‘common expenses, subject pe [he rules and regulations of the Board. ._) _A statement of any liens, including a statement of the account of the unit setting forth the amount of unpaid assessments and other charges due and owing. (c) A statement of any capital expenditures anticipated by the Association within the current -or succeeding two (2) fiscal years. (d) A statement of the status and amounts of any reserve for replacement fund and any portion of such fund earmarked for any specific project by the Board of Manaders. (e) A copy of the statement of financial condition of the Association for the last fiscal year for which such statement is available. lt - _ _ (£) A statement of the status of any pending suits or judgments in which the Association is a party. (9) A statement setting forth what insurance coverage is provided, for all Unit Owners by the Association. (h) A statement setting forth whether or not any improvements or alterations made to the Unit, or the limited Common Elements assigned thereto, by the prior Unit Owners, are in good faith believed to be in compliance with the condominium instruments. (i) The President of the Association or such other officer as is designated by the Board shall furnish the above information when requested to do so in writing and within thirty (30) days of the request. (J) The board of Managers shall establish a reasonable fee covering the direct out-of-pocket cost of providing such sé. ZESPLILG04-22-14 09:45 FROW- 7-168 P0058/0064 F-464 information and copying. 14. All provisions of this Declaration, Bylaws and other condominium instruments are severable. 1S. HEADINGS. The headings and captions contained herein are inserted for convenient reference only and shall nor be deemed to construe or limit the sections and articles to which they apply. 16. LAND TRUST UNIT OWNERS' EXCULPATTON. In the event title to any unit ownership is conveyed to a land title-holding trust, under the terms of which all powers of management, operation and control of the unit ownership remain vested in the trust beneficiary or beneficiaries, then the unit ownership under such trust and the beneficiaries thereunder from time to time shall be responsible for payment of all obligations, liens, or indebtedness and for the performance of all agreements, covenants, and undertakings chargeable or.¢reated under this Declaration against such unit ownership. No claim shall be made against any such obligation hereunder created and the Trustee shall not be obligated to sequester funds or trust property to apply in whole or in part against such lien or obligation. The amount of such lien or obligation shall continue to be a charge or lien upon the unit ownership and the beneficiaries of. such trust notwithstanding any transfers if the beneficial interest of any such trust or any transfers of title of such unit ownership. 37. STILLS7-168 P0059/0064 can peep strong soos caret Suns Ae og a8 emt gee OF HON BP sean ere oospeayn eee pron A PML TOL ‘yokany in sete, rioncm yopub enarenoae HON ws ap Deepes canteen span eH ose mae OF HE ROASAS BB IDE 04-22-14 09:45 FROW- NLRC IOS MBean EHRs EN TAL aa30Ls asl? 183 garssta HANGS garany7-168 P0060/0064 F-464 14 09:46 FROW- 04-22-" inarasva ry taavaan same UF Snetearh vase eve, nana ROAD wivceawan res ear boksag BBSte Aaverne verano 7-168 P0061/0064 F-464 naam sep aud panjene na prmnar 20 Om ee IL SSR We facion 20 7a oda. w0H presser mina jor ed uno 78 0 Sratmgy one mem ae a GEARS BO WEE rennieatan Savant 3H, 04-22-"14 09:45 FROW- som:7-168 P0062/0064 F-464 14 09:46 FROW- 04-22-" anaane 2001 anooas > meataaatosres 97624612 sro sandy mea nee samen conn en pL Fey Giyro mags mooie ra ng par] peaen say parwoprno Ley mr ee en Someone eee sarasota cee Eieceereint nena ae a= te he) 7-168 0063/0064 F-464 IN WETNESS WMRRROP, the said IRVING SCHONBRUN TRUST by ite tees the declarante have caused their signature to be affixed and caused their name to be sigaed on thie 2S day of. ", 1997 ZTIPZILE04-22-14 09:47 FROW- 2 hoace STPEler ‘State aforesaid do 8 oe AND STEE is personally known t names and delivered said inst; ‘for the uses and purpose! forth. : 997. my commission expires: ee a ee eee Cena, sriTrueR, SE cots Sy CONBUSSION ERR OOo, 957 i ay hand and notarial seal this tC 9 OF RID: y 7-168 P0064/0064 F-464 a Notary Public in hereby certify tbat be ome 0 be Co the foregoing Conant a3 Die on e herein set ony of ‘subser! o a x a a p ve