Lasalle Place

Key facts from Lasalle Place's documents

Reflects the 1994 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

La Salle Place Condominiums, Phase I

Units / lots

73 family dwelling units in Phase I (Master Deed Article II: 'sixteen buildin)

Developer / declarant

Housing Authority of Louisville

Governing law

Kentucky Horizontal Property Law, KRS 381.805 through 361.910 (Master Deed recitals and Page 1)

Assessments & dues

Council at annual meeting fixes common expenses based on budget prepared by management agent and approved by Board; assessed according to each unit's Percentage Interest (square footage ratio). (By-Laws Article V, Section 2: 'the Counc)

Collections & liens

Unpaid common expense assessments constitute a lien on the unit, inferior only to real estate taxes and prior recorded mortgages. Board may enforce. Voluntary sale must pay unpaid assessments. Mortgagee acquiring by foreclosure not liable f (By-Laws Article V, Sections 4 and 5; Mas)

Reserves & fees

Board may establish reasonable reserve funds for emergencies, unforeseen contingencies, repair and replacement of common elements. (By-Laws Article III, Section 2(f): 'To e)

Pets

Only common household pets permitted; not to be kept, bred, or maintained for commercial purposes. (By-Laws Article V, Section 8(d): 'No ani)

Maintenance

Owner: maintenance of unit interior (including windows, glass entry doors) and limited common elements (balcony, terrace, patio). Association: maintenance of general common elements as defined. (By-Laws Article V, Section 10 and Master)

Insurance

Board obtains casualty insurance covering buildings (including units and original fixtures) to 100% replacement cost; liability insurance $300,000 per occurrence, $50,000 property damage; workers compensation as required. (By-Laws Article VI, Sections 1 and 2)

Use restrictions

All units shall be used for private residential purposes except as permitted by Board for temporary non-residential uses. (By-Laws Article V, Section 8(b): 'All un)

Amendments

Master Deed cannot be revoked or amended unless all Co-Owners and holders of all deeds of trust, mortgages, or security interests unanimously agree, except as provided in By-Laws Article VI (destruction) or by operation of law. (Master Deed Article XII, page 6)

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