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Agmt99 Shea Homes
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Agmt99 Shea Homes
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Last modified
6/21/2016 9:43:00 AM
Creation date
9/8/2003 1:16:13 PM
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Template:
Agreement
Contractor Name
Shea Homes Limited Partnership
PROJECT NAME
DDA - Disposition and Development Franklin Street Project
RMP File Number
100
Date
10/28/1999
Reso Ref
RD-99-31
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,~cc:.~? '.:~ :he Re. smcted Housing b'mt ffthe O,.~,ner ~s ii,, mgm the umt for at least e~ht <br />~ months out ore,ch calendar year Upon request by the Agency. the Owner of the <br />Restncted Housing Unit shall submit an affidavit to the Agency cemqving that the <br />Resmcted Housing Unit is the Ox~ner's pnnctpal residence. If the Owner vacates the <br />Resmcted Housing Unit, the Agency may exercise ~ts nghts under Section 2.02. <br /> <br /> [. No Other Sales or Transfers. FOLLO~G THE FIRST S~E OF <br />THE ~ST~CTED HOUS~G U%'IT BY SHEA, THE~ $H~L BE NO S~E OR <br />OTHER T~NSFER OF THE PROPERTY, OR PORTION THE~OF, BY THE <br />O~ER ~O A SL~SEQU%NT PL~CHASE~T~kNSFE~E ~O EXCEEDS THE <br />QU~IFY~G ~COME LIMIT FOR THE O~R'S ~ST~CTED HOUS~'G <br />U~T, ~ESS THE AGENCY ~ O~R ~ ~LE TO IDE~IFY ~N <br />ELIGIBLE HOUSEHOLD ~ THE AGENCY ~S ~SED TO P~C~SE <br />YHE ~ST~CTED HOUS~G ~IT. <br /> J. Agency Ce~iflcation. THE~ S~L BE NO S~E OR OTHER <br />T~SFER OF ~E PROPERS, OR~ORTION ~E~OF, ~O~ THE <br />CERT~ICATION BY ~ AGENCY ~T T~ P~C~E~SFE~E IS <br />~ ELIG~LE HOUSEHOLD ~ THAT ~ PROPERS, OF PORTION <br />THE~OF, IS BErG ~SFE~D AT ~ ~FO~LE HOUS~G COST, <br />EXCEPT AS PROV~ED ~ SECTIONS 2.02 OR 2.03, OR 2.~. ~ S~E OR <br />OTHER ~SFER OF THE PROPERTY, OR PORTION T~OF, ~ <br />VIOLATION OF THIS COVEN~ S~L BE VO~, EXCE~ ~ PROV~ED ~ <br />SECTIONS 2.02 OR 2.03 OR 2.0~. <br /> ~ Exertions. ~ following ~sf~ of title to ~ R~t~ Housing <br />Unit or ~y inter~t therein ~e not subj~t to ~ Agency's prior app~val: ~fer by gift, <br />devis~ or i~t~e to ~ spo~, issue or adopt~ ~ld of ~ o~er of ~ Restricted <br />Housing Unit; t~f~ resulting ~m the dea~ ofm o~er when ~e ~fer is to a <br />co-owner or joint t~t; tr~f~ by ~ owner to my pe~on who b~om~ a co-o~er o f <br />the Restricted Housing Unit provid~ ~e o~ retm~ at le~t a fi~ p~ent (~0%) <br />interest in the Res~et~ Housing Umt md the co-owner a~ees to b~ome a co-owner <br />pursuit to t~s Coven~t; ~f~ of title to ~ spo~e resulting ~m divo~e, decre~ of <br />dissolution or legal s~ion or ~m a pmpe~ settl~t a~t incidental to such <br />a decree in whic~e of ~e o~ b~om~ the sole o~e~ or acquisition of title to the <br />Restricted Housing Umt or inter train in conj~;tion wi~ m~age; ~ ~msfer <br />be~een co-owne~ or a ~fer by ~er into ~ int~ vivos ~t in w~ch ~er is a <br />benefici~ ~d O~ continue~ to ~cupy the Res~ct~ Housing U~t. Subs~uent <br />sales shall b~ subj~t to ~ ~i~le 2. <br /> <br /> 2.02, Ag~;y ~t ofFi~t R~s~[. If~ ~ner ofth~ Resmct~ Housing <br />Unit inten~ to sell ~ R~cted Housing Unit, ~d neith~ ~e ~ nor the Agony <br />~e able to identi~ m Eligibl~ Hog,hold to pu~h~ th~ R~m;t~ Ho~ing umt, <br />Agency shall have the option to excise it~ n~t to p~ch~ ~e Res~ct~ Housing Unit <br />pursuit to the following te~ ~d conditions: <br /> <br /> A. ~e Agency m~t exercise t~s fi~t fi~t to p~h~e by providing <br /> Own~ with ~tt~ notice of its elation to exercise t~s n~t pno~ to the expiration of <br /> the ninew (90) day pefi~ ~om Agency's r~eipt ofth~ ~eFs Notice of Sal~. <br /> <br /> B. ~e Agency may desi~am ~other gove~nt~l entiW, non-profit <br /> orgmization or m Eligible Household to purch~e the Restnct~ Housing Umt. <br /> <br /> <br />
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