Stonestreet

Key facts from Stonestreet's documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (commercial)

Legal name

Stonestreet Condominiums Council of Co-Owners, Inc. (Paragraph 19, Page 20)

Developer / declarant

SHERRIN AVENUE PARTNERSHIP, a Kentucky General Partnership (Opening paragraph, Page 1)

Governing law

Kentucky Condominium Law KRS 381.805 to .910 (Preamble, Page 1)

Special assessments

Allowed; Board may levy special assessment against each unit owner based on percentage interest if maintenance fund insufficient (Paragraph 13(j), Page 15)

Collections & liens

Unpaid common expenses constitute a lien prior to all other liens except taxes and first mortgage; 30-day notice required before suit to enforce lien; suit for money judgment also allowed (Paragraph 8, Pages 8-9)

Reserves & fees

Reserves to be maintained to cover future replacement costs and contingencies (Paragraph 7, Page 8)

Leasing & rentals

Allowed but subject to right of first refusal: 15-day prior written notice to Council, Council has 30-day option to purchase or lease on same terms (Paragraph 13(a), Pages 12-13)

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