Parkland Place

Key facts from Parkland Place's documents

Reflects the 1991 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Parkland Place Condominiums

Developer / declarant

Louisville Housing Services Corporation

Governing law

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

Assessments & dues

Determined annually by Council; calculated based on percentage of common interest. (Declaration Section H7: "To annually det)

Collections & liens

Unpaid common expenses constitute a lien on the unit, prior to all liens except taxes and first mortgage. Lien may be enforced by suit similar to mortgage foreclosure; 30 days' written notice required before suing. Council may bid at judici (Declaration Section K: "All sums assesse)

Reserves & fees

Maintenance Reserve Fund established from assessments payable monthly according to unit owner's percentage of interest; fund cannot be withdrawn or assigned; distributed on termination. (Declaration Section P: "The Council of C)

Parking & vehicles

Council assigns and supervises parking, may make reasonable rules and charges. (Bylaws Article III Section 1(j): "Assign)

Architectural approval

Council approval required for landscaping/decorating entrance, hallway, balcony, stoop, planting area; also for installing wiring, antennas, air conditioning units, etc. on exterior. (Bylaws Article IV Section 3(g) and (m): )

Maintenance

Unit owner responsible for interior spaces, cooling unit, hot water heater, ducts and pipes to unit (Section 4 of Declaration). Council responsible for common elements (H). Limited common elements maintained by Council (H4). (Declaration Section A4: "Unit ownership )

Insurance

Unit owners shall obtain insurance on unit interiors and personal property, and comprehensive personal liability insurance covering damage to others within their unit or common elements resulting from their negligence. (Declaration Section M1: "The unit owners)

Use restrictions

Each unit shall be used only for residential purposes. (Declaration Section F1: "Each unit shall)

Voting & meetings

Voting is based on percentage of common interest as set out in Declaration Section B. (Page 13: "Voting shall be on a percentag)

Amendments

Declaration may be amended by signatures of unit owners, effective upon recording (Section Q1). Bylaws may be amended by vote of more than two-thirds of unit owners at a meeting duly called (Bylaws Art V Sec 1). (Declaration Section Q1: "Except as other)

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