Pioneer Addn

What Pioneer Addn's governing documents say

This is an ancillary document for the Terrell Senior Terraces (Tract I & II) rental community, a Low-Income Housing Tax Credit (LIHTC) project in Pioneer Addition, Heartland, TX. It is an amendment between the borrower (Windsor Senior Partners) and the Texas Department of Housing and Community Affairs, subordinating the existing land use restrictive covenants to a HUD-insured mortgage. These rules bind the owner/landlord, not the tenants directly, and are part of a larger set of restrictions not included here.

• What this document does: It amends prior restrictive covenants to subordinate them to a HUD-insured mortgage loan and related requirements, and allows HUD to enforce the covenants alongside the state agency.
• Effect on enforcement: HUD gains enforcement rights over the restrictive covenants, but the state agency's enforcement is limited to claims against surplus cash or residual receipts, not against the project or rents (except with HUD approval).
• Termination upon foreclosure: If the property is foreclosed, the restrictive covenants terminate, except for certain IRS Section 42 requirements if applicable.
• Amendments restricted: While the mortgage loan is outstanding, the borrower and agency cannot further amend the restrictive covenants except for clerical errors or non-substantive corrections, without HUD's written consent.
• This document does NOT cover: It does not contain the full set of community rules or resident obligations. It does not specify age restrictions, pet policies, lease terms, fees, or other typical HOA rules. For those, refer to the original restrictive covenants and the property's rental agreement.

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.