Encumbrances
Statement of Assurance KRS 42.355
Capital projects in area development districts require written assurances by beneficiary agencies. KRS 42.355 requires that the written assurance must be lodged and recorded in the county clerk’s office where the proposed project is located. Record this document in the Encumbrance Book or book where you record liens (this can also be recorded in the Mortgage Book.
The document requires:
• Granting party
• Recipient (Area Development District)
• Return mail address (KRS 382.240)
• Preparation Statement (KRS 382.335)
• The grantee must sign the document and signature must be acknowledged.
