Lyndon Place

Key facts from Lyndon Place's documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (commercial)

Legal name

Lyndon Place Condominiums

Developer / declarant

SHERRIN AVENUE PARTNERSHIP (Opening paragraph)

Governing law

Kentucky Condominium Law KRS 381.805 to .910 (Preamble)

Assessments & dues

Common expenses allocated per percentage interest in common elements (Paragraphs 6 and 7)

Collections & liens

Common expenses constitute a lien prior to all except taxes and first mortgage; may be enforced like mortgage; also termination of ownership for violations (Paragraphs 8 and 16)

Reserves & fees

required to cover future replacement costs and contingencies (Paragraph 7)

Architectural approval

Consent required for alterations to common elements, exterior signs/awnings, structural changes, locks (Paragraphs 15(e), (g), (i), (j))

Maintenance

Council maintains general common elements; unit owners maintain limited common elements and their own units (Paragraphs 4, 5, 7, 15(c))

Insurance

Full replacement value insurance; casualty, liability, workmen's compensation (Paragraph 11)

Amendments

During construction, Developer may amend for errors; thereafter requires instrument signed by owners of majority of units and majority of first mortgagees; recordation required (Paragraph 22)

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