Eastland 2B

What Eastland 2B's governing documents say

This is a deed restriction recorded for a property in Eastland 2B, part of an affordable housing program (Homebuyer Equity Leverage Partnership). It binds the owner to income and resale restrictions in exchange for a direct subsidy, and is not a full community rulebook.

• Affordability & subsidy: The property received a Direct Subsidy of up to $25,000 to assist with purchase. The owner must maintain affordability for low- or moderate-income households (80% or less of area median income) for the retention period.
• Resale restrictions: If the owner sells or transfers title during the 5-year retention period, they must repay a pro rata share of the subsidy, reduced by 1/60 for each full month of ownership. The subsidy repayment comes from net proceeds.
• Retention period: The retention period is 60 months (5 years) from the disbursement date. During this time, the owner must notify the Bank's Community Investment Department of any sale, transfer, or refinancing.
• What this document doesn't cover: This document is a single deed restriction and does not include typical HOA rules such as architectural standards, pet restrictions, parking, or common area maintenance. It applies to this specific property only.

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.