Shadow Lake Homeowners Assoc

What Shadow Lake Homeowners Assoc's governing documents say

This is a mortgage deed of trust, not a homeowners association rulebook. It is a financing document that secures a loan on a single-family home at 823 Shadow Lake Drive in Willow Spring, NC, and it binds the borrower (the homeowner) and the lender. It does not describe community rules or amenities.

• What this document is: A deed of trust used to secure a $363,750 mortgage loan on a single-family home; it grants the lender a security interest in the property and outlines the borrower's repayment and maintenance obligations.
• Who it binds: It binds the borrowers, Rachael Delaney and Sergio Sudarsky, who must occupy the home as their primary residence within 60 days and keep it for at least one year, unless the lender agrees otherwise.
• Property maintenance & insurance: The borrower must maintain the property, keep it insured against hazards as the lender requires, and promptly repair any damage to prevent deterioration.
• Leasing & rentals: If the property is rented, the borrower assigns the rents to the lender, and the lender can collect them after a default notice; the borrower cannot collect more than one month's rent in advance.
• What this document doesn't cover: This document does not contain any community association rules, such as architectural guidelines, pet restrictions, or common area maintenance. It is solely a mortgage instrument.

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.