Shelby Terrace

Key facts from Shelby Terrace's documents

Community type

Condominium

Legal name

SHELBY TERRACE CONDOMINIUMS

Developer / declarant

NEW DIRECTIONS HOUSING CORPORATION

Governing law

Kentucky Condominium Property Law, Sections 381.805 through 381.910 (Page 1: "under the Kentucky Condominium )

Assessments & dues

Council annually determines estimated common expenses; monthly assessments based on percentage of common interest (Section H(7): "annually determine the es)

Collections & liens

Unpaid assessments constitute a lien prior only to tax liens and first mortgage; enforceable by suit like mortgage (Section K: "All sums assessed for common)

Reserves & fees

Maintenance Reserve Fund established, funded by monthly installments based on percentage interest (Section P: "Council ... shall establish )

Architectural approval

Approval required for decorating/landscaping entrance, hallway, balcony, stoop, planting area; for installing wiring, antennas, air conditioning on exterior (Bylaws Article IV Section 3(g) and (m))

Use restrictions

Units used only for residential purposes; one-family residential (Section F(1): "unit shall be used only f)

Voting & meetings

6 unit owners present in person or by proxy (Bylaws Article I Section 6: "presence at)

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