Reynolds Lofts

Key facts from Reynolds Lofts's documents

Community type

Condominium

Legal name

Reynolds Lofts Condominium Association, Inc.

Governing law

Horizontal Property Law of the Commonwealth of Kentucky, KRS 381.805 to KRS 381.910, as amended (Master Deed, WITNESSETH paragraph)

Assessments & dues

Common expense assessments are made pursuant to Bylaws; each Unit Owner's share is the same as their undivided interest in General and Limited Common Elements as shown on Exhibit C, but Board may adjust based on floor area, number of occupa (Master Deed Article VII(A) (page 17-18))

Collections & liens

Unpaid common expenses constitute a lien on the Unit, prior to all other liens except first mortgage and tax liens. Council may foreclose the lien after 30 days' default, in like manner as a mortgage. Lien secures legal interest and reasona (Master Deed Article VII(D) (page 18-19))

Reserves & fees

Not mandatory; during Declarant's Marketing Interval, Board cannot create or increase reserves without Declarant's written consent if the effect would raise reserves beyond a defined proportion of the budget. (Master Deed Article VIII(F)(3) (page 20-)

Pets

Yes, dogs, cats, or caged birds not to exceed two (2) per Unit, subject to compliance with Bylaws and Rules and Regulations. (Master Deed Article III(C)(1) (page 10))

Home business

Permitted: a Unit Owner may use the Unit for a 'Home Occupation' and/or 'Home Office' in compliance with the property's zoning classification under Louisville-Jefferson County Government Zoning Ordinance. (Second Amendment, Section 1 (page 2-3) a)

Signs & flags

Only signs identifying the Condominium Project, signs installed by Declarant during construction, and 'for sale', 'for rent', or 'for lease' signs not larger than 1'x2' and not offensive are allowed. No other signs, window displays, or adve (Master Deed Article III(A)(10) and (11) )

Use restrictions

Units shall be used for residential purposes; no industry, business, trade, occupation or profession of any kind except as expressly provided (home occupation/home office allowed per zoning, and short-term rentals allowed per amendment) (Master Deed Article III(B)(1) as amended)

Voting & meetings

Each Unit Owner (Owner of record) is a member of the Council and is entitled to vote; voting details are in Bylaws (Master Deed Article I(G) (page 2) and Ar)

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