Beverly Place Homeowners Association, Inc

What Beverly Place Homeowners Association, Inc's governing documents say

This is a mortgage deed of trust for a single-family home in Four Oaks, NC, not a community rulebook. It binds the borrower (homeowner) to the lender, not residents to an HOA. It covers loan repayment, escrow, insurance, and property maintenance obligations.

• What this document is: This is a security instrument (deed of trust) for a $367,185 mortgage on a single-family home at 472 Barbour Farm Lane, Four Oaks, NC. It is not an HOA or condo rulebook.
• Who it binds: It binds the borrower (Joel Lauren Heath and Dean Alan Heath) to the lender (Mattamy Home Funding, LLC) and its successors. It does not impose rules on residents or owners beyond mortgage-related obligations.
• Occupancy requirement: The borrower must occupy the property as their principal residence within 60 days of closing and continue for at least one year, unless the lender agrees otherwise or hardship exists.
• Property maintenance: The borrower must not damage or let the property deteriorate, and must promptly repair damage to prevent further decline. The lender may inspect the property with notice.
• Leasing & rentals: If the property is rented, the borrower assigns rents to the lender upon default. The borrower cannot collect rent more than one month in advance, except for security deposits.
• What this document doesn't cover: This document does not contain HOA rules, fees, pet restrictions, architectural guidelines, or community amenities. Those would be in a separate declaration or covenants 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.