Woods of Farnsley Moorman

Key facts from Woods of Farnsley Moorman's documents

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

Community type

condominium (p. 1 (submits Property to Horizontal Pro)

Legal name

Woods of Farnsley Moorman Condominium Association, Inc. (Section 1.1(j))

Units / lots

116 (Section 2.1 (There shall be one hundred )

Governing law

Horizontal Property Law of the Commonwealth of Kentucky, KRS 381.805 to KRS 381.910 (p. 1 (WHEREAS clauses))

Assessments & dues

Each Unit Owner's share of common expenses is equal to their undivided share in Common Elements as set forth in Exhibit B, potentially modified per Section 3.2. Initial assessments may be uniform until project completed. (Sections 5.1, 3.2(a))

Special assessments

Not explicitly provided; however, assessments for reconstruction costs after casualty are provided (Section 9.5). Board may make alterations/improvements to Common Elements at cost as common expense (Section 3.6). (Section 3.6, 9.5)

Collections & liens

Unpaid common expenses constitute a lien on the Unit, prior to all liens except first mortgage and tax liens. Association may foreclose in like manner as mortgage, including costs and attorney's fees. (Section 5.3)

Reserves & fees

Not explicitly required, but Board may create/contribute to reserve, contingency, or surplus fund; subject to limitations during Declarant controlled period (cannot increase beyond proportion of initial budget). (Section 6.5(a)(3))

Leasing & rentals

Unit Owner may sell but not lease Unit; only Declarant may lease Units owned by it. (Section 10.1)

Parking & vehicles

Not explicitly addressed; pedestrian and vehicular easements exist over driveways, parking areas (subject to rights) and other portions. (Section 7.1)

Fences

Not explicitly addressed; but exterior alterations require Board approval under Section 2.8. (Section 2.8)

Architectural approval

Prior written consent of Board required for any alteration or improvement that would alter or affect Common Elements or any other Unit. Also, exterior changes (e.g., painting, storm doors) require Board approval. (Section 2.8)

Signs & flags

Declarant may erect and store signs within Units and distribute promotional materials. Otherwise signs restricted: security doors with bars/grates prohibited; exterior changes require Board approval. (Sections 2.5(b), 2.8 (exterior alteratio)

Setbacks / home size

Not explicitly addressed; Units as built per Plans (Exhibit A reference). (Section 2.1 (Plans recorded))

Maintenance

Association responsible (Section 2.6(a)(1) includes roof). (Section 2.6(a)(1))

Insurance

Association shall insure Buildings, Common Elements, and other improvements for maximum insurable replacement value, including fire, extended coverage, vandalism, malicious mischief, earthquake, plate glass. Also public liability and worker (Section 8.2)

Use restrictions

Units not owned by Declarant shall be occupied and used for private single-family residential purposes only, with single kitchen, not to exceed two stories. (Section 2.5(a))

Voting & meetings

Each Unit Owner has voting rights as provided in Bylaws; no specific percentages given in this document. (Section 6.6 (decision expressed by perso)

Amendments

Master Deed may be amended by Declarant subject to Sections 3.1 and 6.5, or by instrument signed by at least 80% of Unit Owners and 80% of first mortgagees, after notice and meeting, with Board approval (and Declarant consent if required). (Section 13.1)

Amenities

Recreational facilities are included as Common Elements but not detailed. No specific amenities (pool, gym, etc.) listed. (Section 1.1(f) (recreational facilities )

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