Brook Place

Key facts from Brook Place's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Brook Place Condominiums

Developer / declarant

PURYEAR DEVELOPMENT GROUP, INC.

Governing law

Horizontal Property Law of Kentucky, KRS 381.805 to KRS 381.910 (Preamble, page 1)

Assessments & dues

Each unit owner's share of common expenses is the same as the undivided share in common elements (per Exhibit B) (Article V(A), page 8)

Collections & liens

Unpaid assessments constitute a lien on the unit, prior except first mortgage and tax liens; Council may foreclose and seek appointment of receiver to collect rent (Article V(C) and V(F), pages 9-10)

Reserves & fees

During declarant control, Board may not create or increase a reserve fund beyond proportion of initial budget without Declarant consent (Article VI(F)(3), page 12)

Architectural approval

No alteration to common elements or units affecting common elements or other units without prior written Board approval; includes exterior changes (Article II(F), page 5)

Maintenance

Council maintains roofs (Article III(F)(1), page 7)

Insurance

Council insures buildings at replacement value, common elements personal property, and public liability insurance (Article VIII(A)-(B), pages 14-15)

Use restrictions

Condominium declared as residential condominium project (Preamble, page 1)

Voting & meetings

Each unit owner votes in proportion to the percentage interest in common elements (Exhibit B) (Article V(A), page 8)

Amendments

Requires 67% of unit owners and 51% of eligible mortgage holders; material changes listed; notice 30 days in advance; recorded (Article XII, pages 22-23)

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