Lexington House

Key facts from Lexington House's documents

Community type

Condominium

Legal name

Lexington House

Developer / declarant

Omega Development Group, Inc.

Governing law

KRS 381.806 to 381.910 (Kentucky) (Article 1 (page 3))

Assessments & dues

Determined by Council at least every 12 months; includes operating funds and reserves (Article 5 Section 2(a) (page 9))

Special assessments

Council may levy special assessments for reasonable purposes, apportioned by square feet unless unfair (Article 5 Section 2(c) (page 9))

Collections & liens

Assessments are a continuing lien on the Unit, can be foreclosed like a mortgage; includes costs and attorneys' fees (Article 5 Section 1, 6, 7 (pages 8-10))

Reserves & fees

Council must include reserve funds for future capital improvements in a separate account held for the benefit of all Unit Owners (Article 5 Section 2(a) (page 9))

Pets

Yes, dogs, cats or other household pets may be kept, but not for commercial purpose, and pet weight less than 30 pounds; no dangerous animals (Article 11 Section 1(f) (page 19))

Leasing & rentals

Yes, but no lease less than entire Unit; minimum term of six months unless Owner is Developer or first mortgagee in possession (Article 12 Section 7 (page 22))

Parking & vehicles

No parking of any trailer, truck, boat, motorcycle, RV, scooter, or anything other than operative, currently licensed automobiles (Article 11 Section 1(c) (page 19))

Architectural approval

Prior written consent of Council required for alterations in portions maintained by Council, structural changes, painting exterior, or placement of antennas/signs, etc. (Article 11 Section 1(e), (h); Article 12)

Signs & flags

No signs hung or displayed on outside of windows or transparent doors, or placed on outside walls without prior written consent of Council (Article 11 Section 1(e) (page 19))

Maintenance

Roof is a Common Element (Article 1(e)(ii)) so Council responsible (Article 1(e)(ii) (page 4))

Insurance

Council carries fire, extended coverage, vandalism, malicious mischief, liability, workers' compensation insurance; must cover 100% replacement value of buildings and improvements including fixtures, cabinets, appliances, etc. (Article 6 Section 1 (pages 12-13))

Use restrictions

Each Unit shall be used only as a residence; no part of project used for other than housing and common recreational purposes (Article 11 Section 1(a) (page 19))

Voting & meetings

One vote per Unit; membership automatically upon ownership; Developer holds irrevocable proxy until control period ends (Article 4(a) and (b) (pages 7-8))

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