Annandale Homeowners' Association, Inc

What Annandale Homeowners' Association, Inc's governing documents say

This is a mortgage deed of trust, not a community rulebook. It is a financing document that secures a $390,000 loan on a single-family home in Johnston County, NC, and it binds the borrower (the homeowner) to the lender's terms. It does not describe the rules of any homeowners association or community.

• What this document is: This is a standard North Carolina single-family mortgage deed of trust, not a set of community rules. It creates a lien on the property to secure repayment of the loan.
• Who it binds: It binds the borrowers, Thurman Lee Johnson Jr. and Sasha B. Johnson, who are the homeowners, to the lender, Primary Residential Mortgage, Inc. It does not bind renters or other residents.
• Loan terms: The loan is for $390,000, with a maturity date of February 1, 2056, and requires regular monthly payments. The document does not specify the interest rate or monthly payment amount.
• Occupancy requirement: The borrower must occupy the property as their principal residence within 60 days of the loan closing and continue to do so for at least one year, unless the lender agrees otherwise in writing.
• Property maintenance: The borrower must maintain the property to prevent deterioration or decrease in value, and must promptly repair any damage. The lender may inspect the property with reasonable notice.
• Insurance and escrow: The borrower must maintain property insurance as required by the lender, and may be required to pay escrow funds for taxes, insurance, and community association dues if the lender requires it.
• What this document doesn't cover: This document does not contain any community rules, such as pet restrictions, leasing rules, architectural guidelines, or fees. It only addresses the mortgage loan and the lender's rights.

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.