San Marino Subdivision Homeowners Association, Inc

What San Marino Subdivision Homeowners Association, Inc's governing documents say

This is a mortgage deed of trust for a single-family home in the San Marino Subdivision, not a set of HOA rules. It is a financing document between the borrower and lender, and it does not describe the community's covenants or restrictions.

• What this document is: A deed of trust securing a $485,700 loan on a single-family property at 24 E Lunata Ct, Clayton, NC. It is a mortgage document, not an HOA rulebook.
• Who it binds: It binds the borrowers (Leslie T. Carter and Cassandra Carter) to the lender (CrossCountry Mortgage, LLC) and trustee, governing the loan repayment and property as collateral.
• Occupancy requirement: The borrowers must occupy the property as their principal residence within 60 days of signing and continue for at least one year, unless the lender agrees otherwise.
• Property maintenance: Borrowers must maintain the property to prevent deterioration and repair damage promptly, and the lender may inspect the property with reasonable notice.
• Leasing & rentals: If the property is rented, the borrowers assign the rents to the lender upon default, and they cannot collect rent more than one month in advance except for security deposits.
• What this document doesn't cover: It does not contain HOA rules, community restrictions, fees, or amenities. It only addresses the mortgage terms and lender protections.

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.