Mattingly Homes

What Mattingly Homes's governing documents say

This is a 1968 Agreement for Sale (contract for deed) for Lot 24 in Mattingly Homes, a Phoenix subdivision. It is not a set of community rules or an HOA governing document; it binds only the buyer and seller in this specific transaction. The document outlines payment terms, insurance requirements, and buyer obligations, but does not establish ongoing community restrictions.

• Purchase price & payment terms: Total price $14,000. Buyer paid $500 cash down, assumed a first mortgage of $11,315.88 at 5.75% interest, and owes $2,184.12 to the seller at 7% interest. Monthly payments total $121 (first mortgage $64.98 plus interest; balance applied to seller).
• Insurance & taxes: Buyer must keep buildings insured for fire to reasonable insurable value, with the policy held by American Title Insurance Company. Buyer also pays all taxes, special improvement liens, and assessments levied after Dec 31, 1967, and Salt River Valley Water Users Association charges.
• Property maintenance & possession: Buyer may take possession during the agreement and must maintain the premises in good repair, prevent waste, and care for the property as a prudent owner would.
• Default & forfeiture: If buyer fails to make payments or perform obligations, seller may enforce forfeiture, cancel buyer's rights, and retain all payments and improvements as liquidated damages. Buyer must then surrender possession immediately.
• Transfer & assignment: No transfer or assignment of rights is allowed unless done through American Title Insurance Company, with all escrow fees paid and new title insurance issued.
• What this document doesn't cover: This is a sale contract, not a community declaration. It does not address HOA rules, pet limits, leasing restrictions, architectural controls, common area maintenance, or any ongoing association obligations. No rules for future homeowners or renters are established.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.