Mason Park Homeowners' Association, Inc

What Mason Park Homeowners' Association, Inc's governing documents say

This is a mortgage deed of trust for a specific property in Mason Park Subdivision, not a community rulebook. It records a $70,000 loan from Coastal Federal Credit Union to the Newman Living Trust, secured by Lot 28, Phase 3, Mason Park. It binds the borrower (the trust) and the lender, not homeowners generally, and contains no HOA rules or community guidelines.

• What this document is: A deed of trust filed in Johnston County, NC, securing a loan on a single lot (Lot 28, Phase 3) in Mason Park Subdivision. It is a mortgage document, not a set of community rules.
• Who it binds: The borrower is the Newman Living Trust (Aisha and Jacuos Newman as co-trustees). The lender is Coastal Federal Credit Union. It does not bind other homeowners or renters.
• Loan terms: The loan is for $70,000, with monthly payments and a maturity date of January 26, 2046. The borrower must pay principal, interest, and any late charges.
• Taxes and insurance: The borrower must pay monthly escrow for taxes, assessments (including any HOA or condo fees), hazard insurance, and mortgage insurance if required. The lender holds these funds and provides an annual accounting.
• Property maintenance: The borrower must keep the property in good repair and comply with any condominium or planned unit development declarations, bylaws, and regulations if applicable. This is a general mortgage covenant, not a specific HOA rule.
• Transfer restrictions: The lender can demand full repayment if the property is sold or transferred without its consent, unless prohibited by federal law. This is a due-on-sale clause, not a community restriction.
• What this document doesn't cover: This document contains no HOA rules about pets, leasing, architectural review, parking, age restrictions, or community amenities. It is a financing instrument, 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.