First Place

Key facts from First Place's documents

Reflects the 1997 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

FIRST PLACE CONDOMINIUMS

Developer / declarant

BROOK & OAK II PARTNERSHTP

Governing law

Kentucky Condominium Property Law, Sections 381.805 through 381.910 (Declaration introductory paragraph)

Assessments & dues

Council annually determines estimated common expenses and collects monthly assessments based on percentage of common interest (Declaration H7)

Collections & liens

Unpaid common expenses constitute a lien on unit, prior to all liens except taxes and first mortgage; enforceable by suit like mortgage; 30 days written notice required before suit (Declaration K)

Reserves & fees

Maintenance Reserve Fund established from assessments, proportionate interest non-withdrawable, transferred with unit; distributed upon termination pro rata (Declaration P)

Use restrictions

Units shall be used only for residential purposes; one-family residential unit purposes (Declaration F1 and Bylaws Art IV Sec3(a))

Voting & meetings

Percentage of common interest basis (Declaration Q and Bylaws Art I Sec7)

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