Woods of Penn Run

Key facts from Woods of Penn Run's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Woods Of Penn Run

Units / lots

Number not specified; subdivision will be subdivided into lots as per recorded plat (Recital A, page 7 (355); Section 2.10)

Governing law

Kentucky law (State defined as Commonwealth of Kentucky); no specific HOA statute cited (Section 2.19, page 5 (359))

Assessments & dues

Prior to Dec 31, 2014, no event exceed $300 per year per Lot. (Note: document effective 2016, but provision stated.) Prior to Turnover, maximum increase 10% per year. After Turnover, set by Board based on budget. (Section 6.3, page 8 (362))

Special assessments

Permitted for capital expenditures, interest on capital debt, unanticipated operating deficiencies, or any other purpose determined by Board. Developer not required to pay Special Assessments on Lots owned by Developer. (Section 6.4, page 8 (362))

Collections & liens

All unpaid Assessments constitute a lien on the Lot. Lien arises by recordation of Declaration; formal Notice of Lien not required unless by law. Lien subordinate to first mortgage of record. Association may file certificate of lien. Owner (Section 7.2, 7.3, page 9 (363-364))

Reserves & fees

Board shall establish and maintain a Reserve Fund for financing operation, repair, maintenance of Association and Common Property. (Section 6.1, page 8 (362))

Pets

Yes, but no breeding, boarding, raising for commercial purpose. Livestock, reptiles, poultry not allowed unless expressly permitted by Rules. (Section 10.6, page 12 (366))

Leasing & rentals

Yes, but no hotel/transient uses. Leases must be in writing and subject to Declaration, Governing Documents, and Rules. (Section 10.10, page 12 (366))

Parking & vehicles

Board may create and enforce rules concerning parking. Commercial vehicles, snowmobiles, watercraft, trailers, campers, buses, mobile homes not allowed on street or Lot (except in enclosed structure). Board may permit occasional non-recurri (Section 10.11, page 12-13 (367))

Fences

Fencing allowed only if approved by DRB and Board. Standards: materials must be wood, wrought iron, stone, brick; certain aluminum/plastic/vinyl may be approved; no chain link or wire. Max height 48 inches above finished grade (unless safet (Section 10.19, page 14-15 (368-369))

Architectural approval

Yes, Design Review Board (DRB) must approve all Improvements, including construction, modifications, alterations. No construction shall commence until written approval obtained. (Section 9.1, 9.2, page 10-11 (364-365))

Signs & flags

Allowed: (i) Developer marketing signs; (ii) Association/Developer street/ID signs; (iii) one temporary real estate sign ≤6 sq ft; (iv) up to 3 temporary political signs ≤6 sq ft each, displayed reasonable period before and ≤3 days after el (Section 10.5, page 11-12 (366))

Setbacks / home size

One-story: minimum 1,200 finished, habitable square feet (excl. garage and basement). Two-story: minimum 1,500 sq ft. (Section 10.2, page 11 (366))

Maintenance

Owner responsibility (as part of Lot maintenance). (Section 8.2 (maintain 'structures on' Lo)

Insurance

Association shall obtain comprehensive public liability insurance covering Association and Owners/occupants. Additional insurance may be obtained: fidelity bond, workers' comp, general liability, D&O, etc. (Section 5.7, page 7 (361))

Voting & meetings

Until Turnover Date, Developer has sole and exclusive voting power. After Turnover, voting per Association Governing Documents. Each Owner one membership per Lot; multi-owner membership as tenants in common. No meetings required during Deve (Section 4.1, 4.2, page 5 (360))

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