Westland Homesites

What Westland Homesites's governing documents say

This is a recorded financial covenant (Property Agreement) from 1964 between the property owners and a bank, not a full set of homeowners association rules or CC&Rs. It applies to Lot 29, Block 9, Westland Homesites in Phoenix, AZ. The document imposes restrictions on the lot to secure the owner's indebtedness to the bank — it is not a governing document for a community association.

• Financial obligations: The owners must pay all taxes, assessments, dues, and charges on the property before they become delinquent. They must also refrain from creating or permitting any liens or encumbrances on the property without the bank's written consent.
• Transfer and sale restrictions: The owners may not transfer, sell, assign, or otherwise dispose of the property or any interest in it without prior written consent from the bank.
• Assignment of rents and proceeds: The owners assign to the bank all rent proceeds and any money from the sale or transfer of the property. The bank is authorized to collect these funds and apply them to the owner's debt.
• Default and acceleration: If the owners default on any term of this agreement, the bank may declare all remaining unpaid principal and interest on any related debt immediately due and payable.
• Duration and binding effect: This agreement remains in effect until all indebtedness to the bank is paid in full, or until 21 years after the death of the last surviving owner, whichever occurs first. It binds the owners, their heirs, and assigns.
• What this document doesn't cover: This document does not contain typical community rules such as pet restrictions, leasing terms, architectural standards, parking rules, or any homeowner association governance. It is a lender-required covenant, not a community rulebook.

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.