Clark Place

Key facts from Clark Place's documents

Reflects the 1998 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Council of Co-Owners of Clark Place Condominiums, Inc.

Governing law

Kentucky Revised Statutes §§ 381.805–381.910 (WHEREAS, Section 381.805 through 381.910)

Assessments & dues

Board estimates annual budget on or before Annual Meeting, notifies owners on or before December 15. Assessments based on percentage of Co-ownership in Common Elements. (XVI N)

Special assessments

Board may levy further assessment if budget inadequate. Notice given, effective more than 10 days after delivery or mailing. (XVI R.2)

Collections & liens

Unpaid common expenses plus interest, court costs and attorney’s fees constitute a lien against the unit and interest in property. Foreclosure as provided in KRS 381.883. (XVI T, VII B)

Reserves & fees

Board shall build up and maintain a reasonable reserve for contingencies and replacements. (XVI R.2)

Use restrictions

Each unit shall be used as a residence for a single family and for no other purpose. (XVII A)

Voting & meetings

Each unit owns percentage interest in Common Elements; voting percentage determined by that interest. If multiple owners, vote as if one person. (XVI A)

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