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AgdaPkt 2011-10-10
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AgdaPkt 2011-10-10
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Last modified
9/23/2013 10:29:37 AM
Creation date
10/6/2011 2:22:42 PM
Metadata
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Redevelopment Agency
Date
10/10/2011
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6.1.E. - Page 13 <br /> � <br /> 5, Any appl�cable MefiaRoos ot ath�r sp�aial€GSSessmer�;�nd r <br /> B. Horneowners Assodatian Dues;end j <br /> 7. A r�easanable manthly tatili�es aliawance �("lJfiflties Allewan�"), � <br /> 6ssec� upan #he perfodic Al�owance AdJustrnerrts {es prov3ded � <br /> below):ancl � <br /> i <br /> 8. A ressor��ble morithly maintenance ar�d repa� �liowanoa � <br /> ("Metntenanoe AIlo�uvance'j ba�ed upnn the periodlc Allowance � <br /> AdJustments(as provided below), � <br /> �ce Aaliustmer�s, To provlde an ade�uate level af service a8 required undsr � <br /> Cali�orn� Code of Re�ulatior�s� Title 25, sec�lort BgZO� th� L1LiIFpes Allowamca e�nd <br /> MeiMenancs Allowance shall be�stabNshed perbdk�IJy��on#he.aa�s of e�ch qi�ar�able � <br /> Unit(the gAllowanc:�Adjuetnnents"). At the tfine vf a propo�d sale, the monthly Utfl�tles + <br /> Allowarx:e shall be th�t set farth by the Wousing AutPtarity of the Coun#y af Sar� AAateo's ' <br /> fiFieri�published applia�ble annua! �ous[ng ello�wanoe� for owner fum�shed utl�iffe� enrJ I <br /> other se�vioes (the "C�rrty St$nd�rd") tar e residenr�e witft tF3e particular fypg of � <br /> amgni��s includsd in ti�e Affiordable Un�t as developed upan t#�e Proper#y (i.e, $fr <br /> candltfanfng� gas ar elecfir�c stove, amtin� athers. alI �s lder�tted ur�der the Cour�ty � <br /> S#endar�d).At the fime of a proposed sale, th� mor�thly Matnten�nce Allowance slyafl be j <br /> rec�cuiated as ths produd of twenty�-flve p�rr�nt (259�) af�h� fhen-app�icable !l�ilities � <br /> Allovuance. By way of itlt�stration, Pf fihe U�lities A��owanae at the ttme of a pro�peed saie <br /> was �ne Hundt�! Nit�ety-Flve DolJars ($195�� the Maint�enance Albwance would be � <br /> Forly-Eight Doilars and Seventy�lve Cenls (�48.7a), calculsted�a One Hundred Ninety- <br /> Five Doilars($49�)rr�u{tiplEed by twenty fiva parverrt(259b). � <br /> Sect�on 6.05• [�In um A a le Unit R ss�le P c�. ; <br /> The maximum Affordable Unit r+asale price(�ha'Ma�cimum Affordaple Unit Resale � <br /> Pr1ce�shall be as defined and dstermined in the Fte�ale Rast�ccti�on ' <br /> , �Ireement <br /> ���6s F1t��fi . ` <br /> �tefusal. <br /> The CICy sFial[ have a can#nuing "righ# of first refu��al�fio purchase #he Affardab�e <br /> Uni#s upan the proposed resais by Qusll�ed Bt�yers as set forNt I�the Ressle Restrid�n <br /> l�reement. <br /> Sectbn 5.07. � '�I'�on,;Prohi�Itlon or�,.Home Eauilv L,jnes oi <br /> Cr_ad�t: Hom�Eaui[v IAan Rgstri ons <br /> Any refinance af the loans usad to purchase th� qli�rdsble Unils� hnme eq�ity <br /> loans and/ar home squity 11nes of credlt must canTo�m�Go the temtis and conditions ot the <br /> Resals R$�ri�n Agtaement. <br /> �lQ,�,�,Q$ roh '#ec!Transfers af Affordehle Uniis. <br /> Any sale or trar�er of�n Affnrdable Unft in vfolatian�f t�e�errns and condlHons ofi <br /> tttis ABreement!s expressty strictly prohit�ited,shal!be null erxi rro�� ar�d shall constitute i <br /> �.detau�t of OWNER under this A�reemeht, entiYdfng the Clty fiv exerase aIR remedies ' <br /> i <br /> 4Q f <br /> � <br /> f <br />
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