Spring Villa

Key facts from Spring Villa's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title)

Units / lots

41 initially (Section 5.1)

Developer / declarant

CARL R. COX, LLC and Larry F. and Mary Ann Ogle; LLC (collectively Declarants) (Recital A)

Governing law

Kentucky Horizontal Property Law, KRS §§ 381.805-381.910 (Section 1.1, Recitals)

Assessments & dues

Association establishes annual budget and assesses Unit Owners in proportion to their percentage interest (equal per unit) (Sections 7.4, 16.3(a))

Special assessments

Permitted for capital improvements (Section 16.3(b)) and individual unit assessments for specific costs (Section 16.3(c)) (Section 16.1(b), (c))

Collections & liens

Condominium Association has a lien on a unit for unpaid assessments and may foreclose (Section 16.5)

Reserves & fees

Association shall maintain an adequate reserve fund for periodic maintenance, repair, replacement of Common Elements (Section 10.1)

Pets

Household domestic pets (not bred for commercial purposes) allowed, subject to Board rules on size, number, type; may be removed if nuisance (Section 4.2(m))

Leasing & rentals

Yes, but no transient/hotel purpose; lease must be of entire unit; must be in writing subject to documents; owner must notify Board of tenant names and term; Board may limit number of rentals (Section 4.2(g))

Parking & vehicles

Board may regulate parking; prohibited vehicles include trucks over 6000 lbs, length >21 ft, commercial vehicles, boats, trailers, campers; no overnight parking; no parking for longer than 12 hours in any 30-day period except in garages or (Section 4.2(f), Page 5)

Architectural approval

Yes, for any building, fence, wall, sign or other structure or improvement, and for any exterior addition or alteration; plans must be submitted to and approved in writing by Board (Section 4.2(p), Page 8)

Home business

Permitted if incidental, no customers/employees coming to unit (Section 4.2(a)(1))

Maintenance

Unit owner (Class II Limited Common Element includes roofs) (Section 7.3 and 10.2, Pages 10, 13)

Insurance

Lesser of $10,000 or 1% of policy face amount (Section 12.1(b)(5), Page 16)

Use restrictions

Units shall be used only as a residence for individuals living together as a single housekeeping unit; no rooming house, group home, etc. (Section 4.2(a))

Voting & meetings

Until construction completion or Declarant release, all voting rights exercised solely by Declarants (Section 8.3)

Amendments

By vote of Unit Owners as per Bylaws (threshold not specified in this document); also Declarant may amend to add units (Section 19.1); consent of mortgagees required (Section 20). (Section 19, Page 29)

Amenities

Playground, walking trails, green and landscaped areas, entry features (Sections 5.2, 8.5)

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