Eagle Creek (KY)

Key facts from Eagle Creek (KY)'s documents

Reflects the 1997 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (residential) (WHEREAS clauses)

Legal name

Eagle Creek Condominiums

Units / lots

Up to 124 units; initially eight (8) units built. (Article II(A))

Developer / declarant

Pinnacle-Eagle Creek, Inc., a Kentucky corporation, P.O. Box 43957, Louisville, Kentucky 40253-0957 (First paragraph)

Governing law

Horizontal Property Law of the Commonwealth of Kentucky, KRS 381.805 to KRS 381.910 (WHEREAS)

Assessments & dues

Assessments for common expenses are apportioned according to unit owner's undivided share in common elements (percentage set in Exhibit B). No waiver of contribution by non-use. (Article V(A))

Special assessments

Assessments may be made to cover costs of reconstruction/repair after casualty if insurance proceeds insufficient (Article IX(E)). Also, cost of alterations to common elements that benefit requesting unit owner(s) may be assessed to them (A (Article IX(E), Article III(G))

Collections & liens

Unpaid common expenses constitute a lien on the unit, prior to all liens except first mortgage and tax liens. After 30-day default, Council may foreclose as on a mortgage. Lien includes legal interest and reasonable attorney fees. (Article V(C))

Reserves & fees

Not explicitly required; common surplus may be retained as reserve for future expenses (Article V(A)). Declarant during marketing interval may not increase reserve fund beyond proportion of initial budget without consent (Article VI(F)(3)). (Article V(A), Article VI(F)(3))

Leasing & rentals

Yes, unit owner may lease unit, with written notice to Council prior to term. (Article X(A))

Architectural approval

No alteration or improvement affecting common elements or other units may be made without prior written consent of Board of Directors. This includes changes to exterior colors or building materials. (Article II(F))

Maintenance

Council maintains buildings (except unit interiors), roofs, structural components, exterior doors/windows (except interior washing/painting), screened porches, decks, patios, fences, and all common elements. Unit owner maintains interior su (Article II(D))

Insurance

Council shall maintain insurance on all buildings and improvements (excluding foundation/excavation) for maximum insurable replacement value; public liability insurance; workers' compensation; and other insurance as Board determines. Person (Article VIII(B))

Voting & meetings

Based on percentage of ownership in common elements (as set forth in Exhibit B). Each unit owner casts vote based on that percentage. (Article III(B) (percentage interest in c)

Amendments

May be modified by Declarant during marketing interval (subject to limitations in Article VI(F)), or by instrument signed by each unit owner and Declarant if required, or by vote of >50% interest in common elements at a meeting with notice (Article XIII)

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