Chadbourne Homeowners Association Inc

What Chadbourne Homeowners Association Inc's governing documents say

This is a Performance Deed of Trust, not a community rulebook. It is a financing document that gives a company (Unlock Partnership Solutions Inc.) a lien on a specific home at 106 Wyndham Dr, Garner, NC, in exchange for a $50,000 payment. It binds the property owner, Cynthia Giles, and any future owner, but it does not contain HOA rules or community guidelines.

• What this document is: A Performance Deed of Trust securing an agreement where the owner received $50,000 and granted the company an option to buy a future share of the home's value. It is a lien on the property, not a set of community rules.
• Who it binds: It binds the current owner (Cynthia Giles) and any future owner of the property, as the covenants run with the land until the agreement is fulfilled or terminated.
• Key financial terms: The owner received a $50,000 investment payment. The owner does not have to repay that amount, but may owe a 'Settlement Payment' or transfer a percentage of the home's value if certain events occur under the Exchange Agreement.
• What this document doesn't cover: This document does not contain any HOA rules, community restrictions, or resident obligations. It is a financing/security instrument only, so it does not address pets, rentals, maintenance, or other typical community topics.

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.