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Agmt25 1900 Broadway Owner LLC
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Agmt25 1900 Broadway Owner LLC
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Last modified
1/22/2025 10:54:25 AM
Creation date
1/22/2025 10:50:44 AM
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Agreement
PROJECT NAME
Affordable Housing Land Donation Agreement
RMP File Number
304
Date
1/21/2025
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Developer and the lnVestor Limited Partner identifying the deficiencies of the management agent <br />with regards to the management of the Affordable Units. Within thirty (30) days of receipt by the <br />Affordable Developer of such written notice, City staff and the Affordable Developer shall meet <br />in good faith to consider methods for improving operating status of Affordable Development. The <br />City shall have the right to review and inspect documents related to the management and operation <br />of Affordable Development. The then acting Management Agent will have a period of thirty (30) <br />days to address the deficiencies identified by the City. If, after initial meeting or after the sixty <br />(60) day cure period runs (commencing from the date of the deficiency notice), the City staff <br />recommends in writing to the Affordable Developer for the replacement of the Management <br />Agent, the Affordable Developer shall identify a replacement Management Agent. <br />Section 5.5 Affordable Site Maintenance. <br />(a) The Affordable Developer agrees, for the entire Term of this Agreement, to <br />maintain all interior and exterior improvements, including landscaping, for Affordable <br />Development in good condition and repair (and, as to landscaping, in a healthy condition) and in <br />accordance with all applicable laws, rules, ordinances, orders and regulations of all federal, state, <br />county, municipal, and other governmental agencies and bodies having or claiming jurisdiction <br />and all their respective departments, bureaus, and officials, and in accordance with the following <br />maintenance conditions: <br />(1) Outdoor Common Areas. No outdoor common areas for Affordable <br />Development shall be left unmaintained, including: (A) Broken or discarded furniture, appliances <br />and other, household equipment stored in deck areas for a period exceeding one (1.) week; (B) <br />Packing boxes, lumber, trash, dirt and other debris in areas visible from neighboring properties; <br />and (C) Vehicles parked or stored in other than approved parking areas. <br />(2) Building. Affordable Development may not be left in an <br />unmaintained condition so that any of the following exist: (A) Violations of state law, uniform <br />codes, or City ordinances; (B) Conditions that constitute a private or public nuisance; (C) Broken <br />windows; (D) Graffiti (must be removed within seventy-two (72) hours from when discovered or <br />such reasonable period of time as is required to remove the same); and (E) Conditions constituting <br />hazards. <br />(3) Sidewalks. The Affordable Developer shall maintain, repair, and <br />replace as necessary all sidewalks bordering the Affordable Development. <br />(b) The City places prime importance on quality maintenance to ensure that all <br />affordable housing projects within the City are not allowed to deteriorate due to below-average <br />maintenance. Normal wear and tear of Affordable Development will be acceptable to the City <br />assuming the Affordable Developer agrees to provide all necessary improvements to assure <br />Affordable Development is maintained in good condition. The Affordable Developer shall make <br />all repairs and replacements necessary to keep Affordable Development in good condition and <br />repair. <br />(c) In the event that the Affordable Developer breaches any of the covenants <br />contained in this Section and such default continues for a period of thirty (30) days after written <br />ATTY/AGR/2024.193.1—AFFORDABLE HOUSING LAND DONATION AGREEMENT— EXHIBIT G —RESTRICTIVE COVENANTS AGR <br />REV: 10-22-24 V R <br />Page 18 of 41 <br />
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