Lexington House

Key facts from Lexington House's documents

Community type

Condominium

Legal name

Lexington House

Developer / declarant

Omega Development Group, Inc.

Governing law

KRS 381.806 to 381.910 (Kentucky) (Article 1 (page 3))

Assessments & dues

Determined by Council at least every 12 months; includes operating funds and reserves (Article 5 Section 2(a) (page 9))

Special assessments

Council may levy special assessments for reasonable purposes, apportioned by square feet unless unfair (Article 5 Section 2(c) (page 9))

Collections & liens

Assessments are a continuing lien on the Unit, can be foreclosed like a mortgage; includes costs and attorneys' fees (Article 5 Section 1, 6, 7 (pages 8-10))

Reserves & fees

Council must include reserve funds for future capital improvements in a separate account held for the benefit of all Unit Owners (Article 5 Section 2(a) (page 9))

Pets

Yes, dogs, cats or other household pets may be kept, but not for commercial purpose, and pet weight less than 30 pounds; no dangerous animals (Article 11 Section 1(f) (page 19))

Leasing & rentals

Yes, but no lease less than entire Unit; minimum term of six months unless Owner is Developer or first mortgagee in possession (Article 12 Section 7 (page 22))

Parking & vehicles

Prohibited from parking on Common Areas except temporary loading/unloading (Article 11 Section 1(c) (page 19))

Architectural approval

Prior written consent of Council required for alterations in portions maintained by Council, structural changes, painting exterior, or placement of antennas/signs, etc. (Article 11 Section 1(e), (h); Article 12)

Maintenance

Roof is a Common Element (Article 1(e)(ii)) so Council responsible (Article 1(e)(ii) (page 4))

Insurance

Council carries fire, extended coverage, vandalism, malicious mischief, liability, workers' compensation insurance; must cover 100% replacement value of buildings and improvements including fixtures, cabinets, appliances, etc. (Article 6 Section 1 (pages 12-13))

Use restrictions

Each Unit shall be used only as a residence; no part of project used for other than housing and common recreational purposes (Article 11 Section 1(a) (page 19))

Voting & meetings

One vote per Unit; membership automatically upon ownership; Developer holds irrevocable proxy until control period ends (Article 4(a) and (b) (pages 7-8))

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