Gardens of Fern Creek

Key facts from Gardens of Fern Creek's documents

Community type

Condominium

Legal name

Gardens Of Fern Creek

Units / lots

Up to 50 Units maximum (per original Master Deed); as of Sixth Amendment, 42 Units built, up to 50 (Article II, Section A of Master Deed (or)

Developer / declarant

Red Bud Hill Development, Inc.

Governing law

Horizontal Property Law of the Commonwealth of Kentucky (KRS 381.805 et seq.) (WHEREAS clauses, Master Deed)

Assessments & dues

Per Bylaws; each Unit Owner pays proportionate share based on percentage of common elements (floor area ratio) (Article V, Section A; Article II, Sectio)

Collections & liens

Unpaid common expenses constitute a lien on the Unit prior to all liens except first mortgage and tax liens; Council may foreclose; attorneys' fees and interest included (Article V, Section C of Master Deed)

Reserves & fees

No specific reserve requirement; during Declarant control, creation/replacement of reserve fund cannot exceed amount equal to proportion of initial budget without Declarant consent (Article VI, Section F of Master Deed)

Leasing & rentals

Originally allowed with disclosure; as of Corrected Fourth Amendment (2007), only sale of Units is permitted; lease rights removed (Article X, Section A of Master Deed (ori)

Parking & vehicles

Automobile parking spaces designated as Limited Common Elements per Plans; all other parking spaces are General Common Elements available to all Unit Owners subject to Board rules (Article IV, Section C of Master Deed)

Architectural approval

Board must respond within thirty (30) days; consent requested through manager or president/secretary (Article I, Section G of Master Deed)

Home business

No industry, trade, business, or profession of any kind permitted other than as allowed by Board of Directors (and Declarant sales/model use) (Article I, Section D of Master Deed)

Signs & flags

Not explicitly restricted except that Declarant may erect signs for selling units; otherwise, Board may regulate through Rules and Regulations (Article I, Section D (Declarant's sign r)

Use restrictions

Each Unit (except unsold sales offices/models) shall be occupied as a residence by one family only (Article I, Section D of Master Deed)

Amendments

During Declarant Marketing Interval, Board may not amend Condominium Documents without Declarant's prior written consent; Declarant may unilaterally amend provided it does not alter undivided interests of other Unit Owners, increase their c (Article VI, Section F of Master Deed)

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