Poplar Creek Homeowners Association, Inc

What Poplar Creek Homeowners Association, Inc's governing documents say

This is a mortgage deed of trust for a single-family home at 103 Poplar Dr in Clayton, NC, not a community association rulebook. It is a financing document that binds the borrower (Billy Ray Lucas) and the lender, and it does not describe the rules of the Poplar Creek Homeowners Association. If you are a homeowner or buyer, this document tells you about your mortgage obligations, not about HOA covenants.

• What this document is: This is a North Carolina single-family deed of trust (a mortgage) securing a $359,925 loan on the property, with a VA assumption policy rider. It is not a set of community rules.
• Occupancy requirement: The borrower must occupy the property as their principal residence within 60 days of signing and continue for at least one year, unless the lender agrees otherwise.
• Property maintenance: The borrower must not damage or let the property deteriorate, and must keep it in good condition to prevent loss of value.
• Insurance and escrow: The borrower must maintain property insurance as required by the lender, and may be required to pay escrow for taxes, insurance, and HOA dues if the lender demands it.
• Rental and assignment of rents: If the property is rented, the borrower assigns the rents to the lender upon default, and cannot collect more than one month's rent in advance except for security deposits.
• What this document doesn't cover: This document does not contain any HOA rules, fees, pet restrictions, lease minimums, or other community regulations. It only addresses the mortgage loan terms.

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.