First Place

Key facts from First Place's documents

Reflects the 1997 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

FIRST PLACE CONDOMINIUMS

Governing law

Kentucky Condominium Property Law, Sections 381.805 through 381.910 (Declaration introductory paragraph)

Assessments & dues

Council annually determines estimated common expenses and collects monthly assessments based on percentage of common interest (Declaration H7)

Collections & liens

Unpaid common expenses constitute a lien on unit, prior to all liens except taxes and first mortgage; enforceable by suit like mortgage; 30 days written notice required before suit (Declaration K)

Reserves & fees

Maintenance Reserve Fund established from assessments, proportionate interest non-withdrawable, transferred with unit; distributed upon termination pro rata (Declaration P)

Signs & flags

No signs, posters, or bills without Council approval; exception: 'FOR SALE' type sign in front of building for reasonable time (Bylaws Art IV Sec3(f))

Use restrictions

Units shall be used only for residential purposes; one-family residential unit purposes (Declaration F1 and Bylaws Art IV Sec3(a))

Voting & meetings

Percentage of common interest basis (Declaration Q and Bylaws Art I Sec7)

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