Old Henry Place

Key facts from Old Henry Place's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Old Henry Place Condominiums

Units / lots

46 units originally (more or less); after Fourth Amendment added units, total 13 units in Exhibit A of that amendment (but originally described as 46 units, later adjusted) (B. Description of Units; Fourth Amendmen)

Developer / declarant

LV Capital, LLC

Governing law

Kentucky Condominium Property Law, KRS 381.805 through 381.910 (original Act); later Kentucky Condominium Act, KRS 381.9101 to 381.9207 (New Act) incorporated (WITNESSETH; Fourth Amendment § “New Act”)

Assessments & dues

Not fixed; determined annually by Board subject to Council approval (Section J: “determine annually … estimat)

Special assessments

Not explicitly mentioned; but loans may be taken for major repairs (Section U) and repayments become part of Common Expenses (Section U)

Collections & liens

Unpaid Common Expenses are a lien on the unit, prior to all liens except taxes and first mortgage. Foreclosure suit allowed; 30-day notice required. (Section L)

Reserves & fees

Capital Replacement Fund established after developer surrenders power; funded from Common Expense budget; used for major capital improvements. (Section S)

Leasing & rentals

Board may absolutely limit rental of units owned by any entity. (Section G(2): “may be absolutely limited)

Fences

Each unit owner responsible for maintenance of privacy fences (Section M(2)); no other rules. (Section M(2))

Architectural approval

Alterations to Common Elements require mutual agreement of Unit owner affected and Board or Developer (Section E). Additional buildings or structural alterations require unanimous Board approval and consent of lienholders (Section Q). (Section E; Section Q)

Setbacks / home size

Council shall observe setback lines shown on plans (Section I(5)). (Section I(5))

Maintenance

Roofs are part of Common Elements (definition: outside walls and roofs), so Council is responsible. (Section A(3): “outside walls and roofs o)

Use restrictions

Units shall be used only for residential purposes; developer may use unsold units as models/sales offices. (Section G(1))

Voting & meetings

Each unit entitled to vote; percentage interest based on floor area (51% majority); joint owners may cast one vote; proxies allowed (Section V; Section C)

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