Gardens at Bay Run

Key facts from Gardens at Bay Run's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Master Deed and Declaration, first parag)

Legal name

Gardens At Bay Run

Units / lots

Initially 4 units; expandable to approximately 34 units; by Eleventh Amendment 34 units are established (Section 2.4(a) and Exhibit A of Eleventh)

Developer / declarant

Southeast Property Development, LLC

Governing law

Kentucky Horizontal Property Law, KRS 381.805 through 381.910 (Master Deed and Declaration, preface)

Assessments & dues

Board determines estimated Common Expenses for succeeding 12 months, then assesses each unit based on its percentage of common interest (initial percentage in Exhibit A, subject to adjustment by amendments); Developer pays 80% assessment fo (Sections 6.4, 7.1, 7.2(a)-(b))

Special assessments

Allowed for reasonable purposes; may be levied against one unit, group, or all units; if apportioned, method based on square feet unless unfair (Section 7.2(c))

Collections & liens

Unpaid assessment is a continuing lien on the unit; may be foreclosed like a mortgage; lien priority over subsequent liens except taxes and first mortgages; automatic lien, no recording necessary (Sections 7.1, 7.6, 7.7, 7.13(c))

Reserves & fees

Council must include reserve funds for future capital improvements in regular total assessment; funds held in separate account for benefit of unit owners (Section 7.2(a)(B))

Signs & flags

Not explicitly restricted, but no fence, patio, wall, antenna, satellite dish, outbuilding, or shed may be erected without prior written approval of Developer or Board (Section 5.4); signs would likely fall under 'other structure' (Section 5.4)

Use restrictions

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

Voting & meetings

One vote per unit; if multiple owners, they must agree on how to vote or no vote is allowed (Section 6.1)

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