Shelby Gardens

Key facts from Shelby Gardens's documents

Community type

Condominium

Legal name

Shelby Gardens

Developer / declarant

Covenant Housing Fund, Inc.

Governing law

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

Assessments & dues

Determined annually by Board; not fixed in document (Section 6.4, 7.2(a))

Special assessments

Council may levy special assessments for reasonable purposes, apportioned by square feet or other reasonable method; one Unit or group as circumstances warrant (Section 7.2(c))

Collections & liens

Unpaid assessments become continuing lien on Unit; Council may foreclose in same manner as mortgage; lien attaches automatically without recording; priority over subsequent liens except real estate taxes and first mortgages/vendors liens re (Section 7.1, 7.6, 7.7, 7.13(c))

Reserves & fees

Funds for capital improvements shall be held in account in name of Council for benefit of all Unit owners (Section 7.2(a)(B))

Leasing & rentals

Yes, any lease must be in writing, subject to Declaration and Bylaws, and copy delivered to Board (Section 5.3)

Maintenance

Unit Owner responsible for maintenance, repair, replacement of plumbing, heating, A/C, electrical, hot water heater, telephone, cable TV, window panes, doors, windows, etc. serving that unit exclusively; Council responsible for maintenance (Section 1.4, 6.3(a)-(d))

Insurance

Council shall carry master policy of fire and extended coverage, vandalism, malicious mischief, liability insurance, workers compensation; buildings, improvements, personal property insured at 100% replacement value (Section 8.1)

Use restrictions

Unit shall be used only for single family residential purposes (Section 5.1)

Voting & meetings

Each Unit Owner has one vote for each Unit owned; if multiple owners of a unit, they determine how vote is cast but cannot split; if cannot agree, no vote allowed (Section 6.1)

Amendments

Declaration may be amended by majority of Unit Owners, effective upon recording signed instrument; alterations to Regime (unless from casualty) require unanimous approval of all Co-Owners and consent of affected lien holders (Section 11.2, 9.1)

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