Park Central Conds

Key facts from Park Central Conds's documents

Reflects the 1988 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Park Central Condominiums

Developer / declarant

Park Central, Limited

Governing law

Kentucky Condominium Property Law, KRS 381.805 through 381.910 (Page 1, Witnesseth paragraph)

Collections & liens

Unpaid Common Expenses constitute a lien on the unit, prior to all other liens except taxes and first mortgage lien. Enforcement by suit with 30 days written notice to all persons having an interest. Council may bid at judicial sale and acq (Section K, page 10)

Reserves & fees

Reserves shall be included in the Common Expense budget for capital expenditures such as roof replacement, road and parking lot resurfacing. (Section A5, pages 4-5)

Leasing & rentals

Any unit or part thereof may be leased by the owner without restriction for the uses stated in G1 (single family residence). (Section G2, page 8)

Use restrictions

The unit shall be used only for single family residence. (Section G1, page 8)

Voting & meetings

Majority means more than 51% of units (13). Any specified percentage means unit owners to which such percentage of common interest appertains. Joint owners may cast one vote; if disagreement, vote divided according to ownership interest. (Section R, pages 16-17)

Amendments

Declaration may be amended by signatures of all unit owners and their mortgagees, effective upon recording. Except as provided in instrument or Condominium Property Law. (Section T, page 17)

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