South Adams Park Homeowners Association Inc

What South Adams Park Homeowners Association Inc's governing documents say

This is a deed restriction (a covenant running with the land) on a single-family lot in the South Adams Park subdivision in Durham, NC. It is not a full HOA rulebook; it binds the property owner to income and occupancy limits tied to a government affordable-housing program, and it is enforceable by the lender (Self-Help Ventures Fund).

• Affordability restrictions: The property must be sold only to a qualified household earning 120% or less of the area median income, and it must be used as the buyer's primary residence. These restrictions run with the land for 15 years from the date of the declaration (January 2013).
• Foreclosure and revival: If the property is foreclosed or transferred in lieu of foreclosure, the affordability period is suspended. However, if the prior owner (or a related entity) reacquires the property during the original 15-year term, the affordability restrictions are revived.
• Enforcement and remedies: The lender can enforce these restrictions through specific performance in court, and the restrictions bind all future owners. The declaration cannot be amended or terminated except by a written, recorded instrument signed by both the lender and the owner.
• What this document doesn't cover: This document does not contain any HOA-style rules about pets, parking, architectural review, or common-area maintenance. It only imposes the affordable-housing deed restrictions described above.

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.