Fairground Pointe Homeowners Association Inc

What Fairground Pointe Homeowners Association Inc's governing documents say

This is a Performance Deed of Trust, not a community rulebook. It is a financing document that secures an agreement between a homeowner and Unlock Partnership Solutions Inc., giving the company a share in the future value of the home in exchange for an upfront payment. It binds the homeowner (and future owners) to the terms of the underlying Exchange Agreement, but it does not contain community rules or HOA regulations.

• What this document is: This is a mortgage-like lien filed against a specific property (90 Carrousel Ct, Angier, NC) to secure an 'Exchange Agreement' where the owner received $120,564 in exchange for granting the company an undivided percentage interest in the home's future value.
• Who it binds: It binds the current owner, Kathy Willard Honeycutt, and any future owners of the property until the agreement is fulfilled or terminated. The lien runs with the land.
• Key obligations for the owner: The owner must maintain the property, pay taxes and assessments, comply with laws, not damage the property, and not change restrictive covenants or zoning. The owner also must allow the company to inspect the property and cannot lease it in violation of the Exchange Agreement.
• What happens on default: If the owner defaults, the company can foreclose and sell the property, collect rents, or take other legal action. The owner has a right to cure the default within at least 30 days of notice and may reinstate the loan under certain conditions.
• What this document doesn't cover: This document does not contain any community rules, HOA covenants, pet policies, rental restrictions, or other typical homeowners association regulations. It is solely a financing and lien document.

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.