Grande Palms
Homeowners association — you own your lot and home; the association maintains common areas and enforces covenants.
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What Grande Palms's governing documents say
This is an ancillary document — a Declaration of Restrictive Covenants for a single-family home at 4032 Cypress Forest Way in Grande Palms, Bolivia, NC. It is not a full HOA or community rulebook; it binds only the owner of this specific lot as a condition of a third-mortgage loan from the North Carolina Housing Finance Agency (NCHFA) under the Community Partners Loan Pool (CPLP) program. The restrictions ensure the home remains affordable and owner-occupied for 15 years.
- Affordability period: The restrictions last 15 years from March 20, 2025 (the 'Period of Affordability'), and may extend beyond the loan term. The period automatically suspends upon foreclosure or deed-in-lieu but revives if the prior owner or related parties regain ownership.
- Owner-occupancy requirement: The owner must occupy the residence as their principal residence within 60 days of the declaration date and for the entire 15-year period.
- Leasing & rentals: Renting the residence or any part of it is prohibited. The owner cannot use the home as an investment property, recreational home, or second home.
- Home business restriction: The owner cannot use the residence primarily for a trade or business, nor deduct any portion of the home as a business expense on tax returns.
- Transfer & recapture: Any transfer of title or possession without NCHFA's prior written approval may result in legal enforcement. If the owner sells during the affordability period, NCHFA may accept net proceeds in full satisfaction of the note, but can demand full payment if the sale price doesn't reflect fair market value.
- What this document doesn't cover: This document does not contain community-wide rules about pets, parking, architectural review, common areas, or assessments. It applies only to this single lot and is not a full HOA declaration or condominium regime.
Key facts from Grande Palms's documents
- Community type
- Affordable Housing — income/rent restricted (LIHTC/HOME/etc.)
- Governing law
- North Carolina (Section 10: This Declaration shall be go)
- Amendments
- Written instrument executed by Lender and Owner, duly recorded in the Office of the Register of Deeds (Section 5: This Declaration shall not be)
Community details for Grande Palms
- Assessments & dues
- $384/year (estimated from 3 real-estate listings) (source)
About this HOA
Grande Palms is a homeowners association in Supply, NC.
HOAproxy has 1 document on file for Grande Palms: 1 CC&R. Last updated 2026-06-08.
Governing documents
- B5323 P1249 (4 pages) — PDF