Norton Commons III

Key facts from Norton Commons III's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Norton Commons III Condominiums

Units / lots

3 (Lots 404, 405, 406 of Norton Commons Subdivision) (Doc 121786, Page 2 (Lot 405, 406); Doc 1)

Developer / declarant

THE BUILDERS GROUP, NORTON COMMONS, LLC, a Kentucky Limited Liability Company (Doc 121786, Page 1, lines 10-12)

Governing law

Kentucky Horizontal Property Law KRS 381.805 to 381.910 (Doc 121786, Page 1, lines 2-3)

Collections & liens

Unpaid common expenses constitute a lien on the unit, prior to all other liens except ad valorem taxes and first mortgage. Lien arises automatically. Enforcement by legal action after 30 days written notice to persons with interest. Include (Doc 121786, Section 9(a)(b), Pages 15-16)

Reserves & fees

Common expenses include creation of reserves to cover future replacement costs and contingencies. (Doc 121786, Section 8(e), Page 15)

Leasing & rentals

Yes, with restriction that tenant must not adversely impact parking ratio. (Doc 121786, Section 17(i), Page 34)

Parking & vehicles

Prohibited. (Doc 121786, Section 17(j), Page 34)

Architectural approval

Any alteration, construction, or removal from common elements or limited common elements requires written consent of Developer and/or Board. (Doc 121786, Section 17(h), Page 33)

Maintenance

Roof is part of general common elements; maintenance and repair responsibility of Council. (Doc 121786, Section 5, Page 11)

Insurance

100% full replacement value insurance including hazard, flood, casualty, liability, and employee workmen's compensation insurance if needed. (Doc 121786, Section 12(a), Page 19)

Use restrictions

Units and common elements may only be used for residential purposes and related common purposes. (Doc 121786, Section 17(a), Page 32)

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