Lakeside Homeowners Assoc Inc

What Lakeside Homeowners Assoc Inc's governing documents say

This is a mortgage deed of trust for a single-family home in Clayton, NC, not a community rulebook. It binds the borrower (homeowner) and the lender, and it does not govern the community's rules or lifestyle. If you're looking for HOA rules, this document is not the right source.

• What this document is: A standard North Carolina mortgage/deed of trust securing a $247,000 loan on a single-family property at 407 Damon St, Clayton, NC. It defines the lender's rights and the borrower's obligations regarding the loan, not community rules.
• Who it binds: Binds the borrower (Sarah H. Smith) and the lender (Primary Residential Mortgage, Inc.), and any successors. It does not bind residents or homeowners as a community association.
• 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.
• Property maintenance: The borrower must maintain the property to prevent deterioration or decrease in value, and must promptly repair damage. The lender may inspect the property with reasonable notice.
• Leasing & rentals: The borrower assigns rents to the lender if in default, but there is no community rule about leasing. The document does not restrict rentals beyond the lender's rights.
• What this document doesn't cover: This is not a declaration of covenants, conditions, and restrictions (CC&Rs) or an HOA rulebook. It contains no community rules about pets, parking, architectural review, age restrictions, or fees. For those, you'd need the actual HOA governing documents.

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.