Pierce Landing Community Association, Inc

What Pierce Landing Community Association, Inc's governing documents say

This is a mortgage deed of trust for a single-family home in Pierce Landing, a planned unit development (PUD) in Garner, NC. It is not a community rulebook; it is a lender's security document that binds the borrower (the homeowner) to the mortgage terms, including paying any HOA dues and maintaining the property.

• What this document is: This is a mortgage/deed of trust, not an HOA rulebook. It secures a $180,000 loan on a single-family home in a PUD and outlines the borrower's obligations to the lender.
• HOA dues & assessments: The borrower must pay all community association dues, fees, and assessments, and the lender may require them to be escrowed as part of the monthly mortgage payment.
• Occupancy requirement: The borrower must occupy the home as their principal residence within 60 days of closing and continue to do so for at least one year, unless the lender agrees otherwise.
• Property maintenance: The borrower must maintain the property in good condition and not let it deteriorate, and the lender may inspect it.
• Leasing & rentals: If the property is rented, the borrower assigns the rents to the lender upon default, and the borrower cannot collect more than one month's rent in advance (except security deposits).
• What this document doesn't cover: This document does not contain HOA rules, restrictions, or fees specific to Pierce Landing; those would be in the community's declaration or bylaws.

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.