Durham Eastway Village Association Inc
Homeowners association — you own your lot and home; the association maintains common areas and enforces covenants.
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What Durham Eastway Village Association Inc's governing documents say
This is a restrictive covenant declaration for a specific condominium unit (521-B) in Eastway Village Condominiums, Durham, NC, tied to an affordable housing loan from the North Carolina Housing Finance Agency (NCHFA). It binds the owner (and future owners) to affordability and occupancy restrictions for a 5-year period, not a full community rulebook. The document is for anyone considering buying or living in this unit, as it imposes income and occupancy limits.
- Affordability period: The property is restricted for 5 years from June 18, 2010, to ensure affordability under the NCHFA New Homes Loan Pool program. The period may extend beyond the loan term and can revive after foreclosure under certain conditions.
- Owner-occupancy requirement: The owner must occupy the unit as their principal residence within 60 days of the declaration and continue to do so for the entire affordability period. Renting the unit or using it as a second home or investment property is prohibited.
- Transfer and sale restrictions: Any transfer of title or possession without prior written approval from NCHFA may trigger legal enforcement. A sale or refinancing does not end the affordability period, and NCHFA has recapture rights if the sale price is below fair market value.
- What this document doesn't cover: This is not a full condominium rulebook. It does not cover pet rules, leasing terms, maintenance responsibilities, or other typical HOA/condo regulations. Those are in the separate Eastway Village Condominium declaration and bylaws.
Key facts from Durham Eastway Village Association Inc's documents
- Community type
- Condominium (Exhibit A: 'ALL OF CONDOMINIUM UNIT 521-)
- Governing law
- Laws of the State of North Carolina (Section 10: 'governed by the laws of the)
- Leasing & rentals
- No renting of Residence or any part, nor use as investment property or second home (Rider #1, Section 6: 'Owner will not ren)
- Home business
- Owner will not use Residence primarily in trade or business, nor deduct any portion as home business expense (Rider #1, Section 5: 'Owner will not use)
- Use restrictions
- Residence shall remain a one-family residence (Rider #1, Section 3: 'Such Residence is )
- Amendments
- Amendment or termination only by written instrument executed by Lender and Owner, recorded in county (Section 5: 'shall not be amended... exce)
About this HOA
Durham Eastway Village Association Inc is a homeowners association in Durham, NC.
HOAproxy has 1 document on file for Durham Eastway Village Association Inc: 1 recorded document. Last updated 2026-06-08.