Glenmary Village Subdivison

Key facts from Glenmary Village Subdivison's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

residential planned unit development (Recitals, page 1)

Legal name

Glenmary Village Residents Association, Inc.

Developer / declarant

Glenmary Village, LLC and Renaissance Glenmary Village Apartments, LLC

Governing law

Kentucky nonprofit corporation law (implied) (Article I, Section 3 and Section 7 (Asso)

Assessments & dues

Residents Association maximum: $30 per month per Residential Unit until January 1, 2005 (text reads "$3e 0" likely $30); Recreational Association maximum: $300 per month per Residential Unit until January 1, 2005 (Article VI, Section 3(a) and (b))

Special assessments

Allowed for capital improvements; must be applicable to that year only (Article VI, Section 4(a) and (b))

Collections & liens

Assessments (plus interest, costs, attorney fees) constitute a continuing lien on the Residential Unit; lien subordinate to first mortgage; enforceable by foreclosure or otherwise (Article VI, Section 1 and Section 8)

Reserves & fees

Assessment not paid within 15 days of due date subject to late charge as determined by Board (Article VI, Section 7)

Voting & meetings

Class A: one vote per Residential Unit owned; Class B (Developer): five votes per Residential Unit owned until conversion (Article IV, Section 2; Article V, Sectio)

Amendments

May be cancelled, altered or amended by instrument signed by Owners holding 75% of votes in Residents Association and Recreational Association; also requires any necessary consents for specific provisions (Article VII, Section 3)

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