Chariot Run

Key facts from Chariot Run's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (WITNESSETH)

Developer / declarant

Chariot Run, LLC, a Kentucky limited liability company (Opening paragraph)

Governing law

Kentucky Horizontal Property Law, KRS 381.805 through 381.910 (WITNESSETH)

Special assessments

Council may levy special assessments for reasonable purposes, apportioned among units benefited. (Section 7.2(c))

Reserves & fees

Council should include reserve funds for future capital improvements in the regular assessment. (Section 7.2(a))

Leasing & rentals

Yes, subject to Declaration, Bylaws, and Rules; lease must be in writing and a copy delivered to Board (rent may be redacted). (Section 5.3)

Architectural approval

prior written consent of Board required for alterations affecting Common Elements or exterior (Section 9.1)

Signs & flags

no signs or exhibits on outside walls or Common Elements without Board consent (Section 5.4)

Insurance

Each unit owner must obtain coverage on furnishings, interior improvements, betterments and improvements insurance; comprehensive personal liability insurance of at least $300,000. (Section 8.7)

Use restrictions

Each unit shall be used only for single family residential purposes. Developer may use one or more units as sales office or model during development. (Section 5.1)

Voting & meetings

One vote per unit owned; if multiple owners, they must agree on a single vote; otherwise no vote allowed. (Section 6.1)

Amendments

Declaration may be amended by majority of unit owners, effective upon recording. Developer may amend without joinder for corrections, clarifications, or to meet FHLMC/FNMA/HUD/FHA/VA requirements. (Section 11.2(a))

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