Audubon Park Place

Key facts from Audubon Park Place's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (MASTER DEED Establishing AUDUBON PARK PL)

Legal name

AUDUBON PARK PLACE CONDOMINIUMS

Developer / declarant

L. E. Gardner and W. L. Gardner

Governing law

Horizontal Property Law of the Commonwealth of Kentucky, KRS 381.805 to KRS 381.910 (submitting…to the Horizontal Property La)

Assessments & dues

Percentage interest in common elements (floor area ratio) per Exhibit B (Article III(B): Each unit shall have app)

Collections & liens

Unpaid common expenses constitute a lien on the unit after 30 days default; council may foreclose like a real estate mortgage; includes attorney fees and costs (Article V(C): lien created; if in defaul)

Reserves & fees

Mentioned; during marketing interval board cannot assess increases to reserve fund beyond proportion of initial budget (Article VI(F)(3): assess any common char)

Leasing & rentals

Yes, with written notice to council of fact, lessee identity, and term (Article X(A): right to sell or lease, pr)

Architectural approval

Yes, for alterations affecting common elements or other units; board consent required in writing (Article II(G): No alteration or improvem)

Home business

Only incidental business meetings permitted; not primary purpose; board may permit other uses taking into consideration interests of all owners; no industry, trade, business or profession otherwise (Article II(D): incidental business meeti)

Maintenance

Council responsibility (Article II(E)(1): includes roofs)

Insurance

Council shall maintain insurance on building, common elements, and other improvements to max insurable replacement value; personal property in common elements; public liability; workers' compensation; and other insurance as board deems desi (Article VIII(B))

Use restrictions

Yes, each unit shall be occupied as a residence by one family only (Article II(D): each unit shall be occupi)

Amendments

During marketing interval, board cannot amend condominium documents without declarants' written consent; declarants may unilaterally amend subject to limitations (not alter undivided interest of other units, increase share of common expense (Article VI(F) and Article XIII)

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