Cherokee Lions

Key facts from Cherokee Lions's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Cherokee Lions Condominiums

Developer / declarant

Cherokee Lions, LLC

Governing law

KRS 381.810 (Definition 1, Definition 2)

Assessments & dues

Initial 17.4 cents per square foot per month (based on unit floor area from Exhibit A). After developer control ends, set by Association. (Article II, Section 4)

Collections & liens

Assessments constitute a lien upon the unit and improvements, subordinate only to first mortgage or vendor's lien, enforceable by foreclosure or otherwise. (Article II, Section 3)

Reserves & fees

A reserve shall be included in the Regime’s Common Expense budget for capital expenditures such as roof replacement, road/driveway/parking resurfacing. (Definition 4 (Common Expenses))

Pets

Dogs, cats or other household pets (traditional domestic pets) may be kept, not for commercial or breeding purposes. (Article III, Section 4)

Maintenance

Foundations, main wall, roofs are Common Elements, thus Association responsibility. (Definition 1(b))

Insurance

Master policy of fire, extended coverage, vandalism, malicious mischief, liability insurance with minimum $500,000 per occurrence, plus workers comp if required. (Article II, Section 9)

Voting & meetings

Class A: one vote per unit; Class B (Developer): ten votes per unit. After transfer of control, voting according to percentage of ownership interest (Exhibit A). Amendments require 87% of Unit Owners. Cancellation/alteration requires 75% of (Article II, Section 6; Article III, Sect)

Amendments

Developer may amend while owning lots. After all lots transferred, amendment requires consent of 87% of Unit Owners. Restrictions may be canceled/altered/amended by affirmative action of owners of 75% of units. Association may amend its Art (Article III, Section 16, 17, 20)

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