Oaks of Second Street

Key facts from Oaks of Second Street's documents

Community type

Condominium

Legal name

The Oaks Of Second Street Condominiums

Developer / declarant

David R. Mills and J. Clifford Todd

Governing law

Kentucky Horizontal Property Law (WHEREAS para)

Assessments & dues

by Council based on common expenses; proportionate to undivided interest in common elements (Each unit owner shall be personally liab)

Special assessments

possible for insufficiency in insurance proceeds for reconstruction; also generally by Council per bylaws (a special assessment shall be made again)

Collections & liens

unpaid common expenses constitute a lien on the unit; foreclosure available; priority limited by first mortgage and tax liens (any unpaid common expenses assessed to a)

Reserves & fees

not explicitly stated (no mention)

Pets

yes, with restrictions (this shall not prohibit the keeping of d)

Leasing & rentals

yes, with conditions (Any owner of a Unit may lease said Unit )

Parking & vehicles

restricted; no overnight on streets unless in garage; limited common elements parking space if designated (No vehicle... shall be parked overnight )

Fences

fencing visible from outside requires prior written approval via application with details (No further improvements of any nature (i)

Architectural approval

yes, for alterations affecting common elements or exterior changes (No alteration or improvement to the unit)

Home business

not explicitly prohibited; only non-residential uses as permitted by Board; no commercial vehicle parking etc. (All Units shall be used for private resi)

Signs & flags

not explicitly addressed (no mention of flags)

Maintenance

Association (roofs of the buildings (other than inter)

Insurance

All Risk; covers general common elements; minimum amount equal to 100% replacement cost; liability insurance minimum $2,000,000 (Section 11, Coverage)

Use restrictions

yes (All buildings and the units therein are )

Voting & meetings

not explicitly stated in this document; bylaws referenced but not included (bylaws of the Council)

Amendments

not fully detailed in this document; mentions amended declaration and master deed but no thresholds; refer to Horizontal Property Law (as may be filed with the recording of an)

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