Reserve at Lovers Lane

Key facts from Reserve at Lovers Lane's documents

Community type

Covenant / Planned Community

Legal name

The Reserves at Lovers Lane

Developer / declarant

Superior Builders Inc.

Assessments & dues

Governing body may fix assessment at amount not exceeding maximum; they determine when assessments are due. (Article IV Section 3B: 'The governing bo)

Special assessments

May levy special assessments for capital improvements on common areas for that year only. (Article IV Section 4: 'for the purpose o)

Collections & liens

Assessments are a continuing lien on the lot, enforceable by foreclosure in same manner as mortgages in Kentucky; also personal obligation of owner (Article IV Section 1: 'be a continuing l)

Reserves & fees

Late charge as determined by the Association's governing body (Article IV Section 7: 'subject to a late)

Signs & flags

One sign for sale/rent, max 9 square feet; Developer may erect larger signs; occupant name signs and lot numbers allowed per zoning (Article V Section 8: 'one sign for adver)

Use restrictions

Lots used only for private single family residential purposes (Article V Section 1: 'No lot shall be us)

Voting & meetings

Each member has one vote per lot owned; two classes: Class A (lot owners) and Class B (Developer). Class B membership ceases upon Developer's sole discretion or after 90 days following sale of 100% of lots. (Article II Section 2 A, C)

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