Mercantile Gallery Lofts

Key facts from Mercantile Gallery Lofts's documents

Community type

condominium (Section 2.1 Submission and Plan)

Legal name

Mercantile Gallery Lofts

Developer / declarant

Mercantile Gallery Lofts, LLC (Introductory paragraph)

Governing law

Kentucky Horizontal Property Law, K.R.S. §§ 381.805-381.910 (Recital B)

Special assessments

Allowed (Section 14.2 Individual Expenses; Specia)

Collections & liens

Association has lien for unpaid assessments (Section 14.7 Lien of Association)

Reserves & fees

Established (Section 14.12 Reserve Fund)

Parking & vehicles

43 parking spaces (30 regular + 1 handicap in Garage Building, 12 surface); assigned as Limited Common Elements to Residential Units (Section 3 description and Section 4.4)

Signs & flags

Prohibited except as allowed (Section 13.11 Signs)

Maintenance

Association (exterior of buildings is Common Element (Section 6.2.C (included in Common Elemen)

Insurance

Amount found reasonable by Board after considering premium costs and risk (Section 7.1.A(ii))

Use restrictions

Prohibited (Section 13.6 Nuisances)

Voting & meetings

One vote per unit, weighted by percentage of common interest; commercial and residential units may have separate voting on matters affecting only their class (Section 5.2 Voting Rights)

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