Alderbrook Homeowners' Association, Inc.

Key facts from Alderbrook Homeowners' Association, Inc.'s documents

Reflects the 2009 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

homeowners association (Section 5 of Article I defines Associati)

Legal name

Alderbrook Homeowners' Association, Inc.

Units / lots

23 lots initially (Lots 1-5, 7-14, 59-65, 190-192) (Exhibit A on page 2 lists those lots)

Developer / declarant

Manor Lake, LLC

Governing law

Kentucky Non-Profit Corporation statutes (Article III, Section 1: 'the Association)

Assessments & dues

$200 per lot per year for first five years, then as determined annually (Article VI, Section 4)

Special assessments

After fifth year, Association may levy special assessment for capital improvements, unexpected repairs, etc. Requires approval of 51% Class A and 51% Class B votes if Developer still owns 75% or more of lots. After Developer sells 75%, spec (Article VI, Section 5)

Collections & liens

Unpaid assessments become a lien on the lot after written notice. Lien is prior except for taxes, US/state liens, and first mortgages. Association may foreclose similar to a mortgage, with receiver, sale, deficiency judgment. (Article VI, Sections 8-10)

Reserves & fees

Amount determined by Board of Directors from time to time (Article VI, Section 8: 'with a late char)

Pets

Yes, dogs and cats and other household pets, but not for commercial purposes. (Article IX, Section 1J)

Leasing & rentals

Yes, Owners may lease entire Dwelling Unit subject to covenants. (Article IX, Section 1L)

Parking & vehicles

Not allowed to be parked on any part of Lot or street. May be stored in enclosed garage with door closed. (Article IX, Section 1C)

Architectural approval

Board must act within 90 days after submission; otherwise deemed approved. If construction not commenced within 6 months, approval lapses. (Article IX, Section V(5))

Home business

Allowed if activities do not interfere with quiet enjoyment, increase traffic, and are permitted by law. (Article IX, Section 1A: 'an Owner of a L)

Maintenance

Owner (not explicitly stated but part of dwelling maintenance) (Article VII, Section 2A)

Use restrictions

Yes, except Homeowners' Association Property and Storm Water Detention Pond Areas. Dwelling Unit used only as residence for single family. (Article IX, Section 1A)

Voting & meetings

Class A (owners except Developer): one vote per Single Family Residence. Class B (Developer): five votes per each Single Family Lot it owns. (Article III, Section 3A and 3B)

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