River Beauty Loop

Key facts from River Beauty Loop's documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (DOC 119771, Deed Book 12695 Page 591: 's)

Legal name

River Beauty Loop Condominiums I

Units / lots

4 per building (River Beauty Loop Condominiums I, II, III each have 4 units; total 12 across all three regimes) (DOC 119771, Deed Book 12695 Page 594: 'o)

Developer / declarant

The Ramage Company, LLC

Governing law

Kentucky Horizontal Property Law (K.R.S. 381.005 through 381.910) (DOC 119771, Deed Book 12695 Page 591)

Assessments & dues

Not predetermined; set annually by Board subject to majority approval of Council based on estimated common expenses (DOC 119771, Section J.3, Deed Book 12695)

Special assessments

Board may levy special assessments for operation of project; also for capital replacement fund (DOC 119771, Section J.1, Deed Book 12695)

Collections & liens

Unpaid Common Expenses constitute a lien on Unit, prior only to tax liens and first mortgage liens. Board may enforce by suit with 30 days written notice to interested parties. Council may bid at judicial sale and acquire, hold, lease, mort (DOC 119771, Section L, Deed Book 12695 P)

Reserves & fees

Separate reserve and capital replacement fund; portion of monthly maintenance fee deposited; fund in insured institution; withdrawals require two signatures; disbursements only for substantially repairing, replacing, or erecting major capit (DOC 119771, Section J.4, Deed Book 12695)

Use restrictions

Unit shall be used only for residential purposes (DOC 119771, Section F.1, Deed Book 12695)

Voting & meetings

Each Unit has percentage of common interest for voting; majority means owners of Units with >50% of common interest of those present at quorum meeting; specified percentage means owners of Units with such percentage of common interest (DOC 119771, Section O, Deed Book 12695 P)

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