Quail Run Addn

What Quail Run Addn's governing documents say

This is a deed restriction for a specific property (326 Deer Run, Sanger, TX) in Quail Run Addition, placed as part of an Affordable Housing Program (AHP) subsidy. It binds the current and future owners to affordability terms for a 5-year retention period, not a full community rulebook.

• Affordability & subsidy repayment: The property received a Direct Subsidy up to $6,000. During the 5-year retention period (starting September 6, 2006), if sold, the seller must repay a pro-rata share of the subsidy (reduced by 1/60 per month owned) from net gain after sales expenses, unless the buyer is a Low-or-Moderate Income Household (income at or below 80% of area median, adjusted for family size).
• Retention period: The retention period is 5 years from September 6, 2006. During this time, any sale or refinancing triggers notice to the Bank and potential repayment of the subsidy.
• Sale & refinancing conditions: On sale during retention period, repayment is required from net gain. On refinancing during retention period, repayment is required unless the property remains subject to these deed restrictions. Foreclosure of a prior recorded lien extinguishes these restrictions.
• What this document doesn't cover: This document does not contain typical HOA or condominium rules such as pet limits, leasing restrictions, architectural guidelines, parking, or common area maintenance. It is a single-property affordability covenant, not a community-wide rulebook.

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.