Austins Pond Owners Association Inc

What Austins Pond Owners Association Inc's governing documents say

This is a Deed of Trust (a mortgage document) for a single-family home at 182 Dory Ln in Austin's Pond Subdivision, Clayton, NC. It is not a community rulebook; it is a financing agreement between the homeowners and First-Citizens Bank, securing an equity line of credit. It does not contain HOA rules, covenants, or community guidelines.

• What this document is: A Deed of Trust securing a home equity line of credit up to $66,400, recorded in Johnston County, NC. It is a lender's security instrument, not a set of community rules.
• Who it binds: It binds the property owners (Asher Eli Texeira and Antonette Thomas) and their property, not residents or tenants. It grants the lender rights to the property and rents if the borrowers default.
• Property maintenance & use: The owners must maintain the property in good condition, not cause waste or nuisance, and comply with all laws. They cannot demolish or remove improvements without lender consent.
• Leasing & assignment of rents: The owners assign all present and future leases and rents to the lender as security. If they default, the lender can collect rents directly from tenants.
• Insurance & taxes: The owners must keep hazard insurance (and flood insurance if in a flood zone) and pay all property taxes and assessments. The lender can force-pay these if the owners fail.
• What this document doesn't cover: This document contains no HOA rules, architectural guidelines, pet restrictions, lease terms, or community amenities. It is purely a mortgage/security 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.