My WebLink
|
Help
|
About
|
Sign Out
Browse
Search
RecDoc 2011-155321
RedwoodCity
>
City Clerk
>
Recorded Docs 2010-2012
>
2011
>
RecDoc 2011-155321
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
1/3/2012 5:00:15 PM
Creation date
12/20/2011 3:47:58 PM
Metadata
Fields
Template:
Recorded Docs
Recorded Docs - Type
Agreement
Subject
Affordable Housing Agreement
Rec Date
12/15/2011
APN
052-383-250
Address
333 Main St.
Parties
333 Main St. RWC. LLC
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
37
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
, i <br /> I <br /> . � <br /> available at law or in equity, including without limitation, seeking injunctive relief to <br /> ' prevent or enjoin the prohibited transfer and/or damages as provided in this Agreement. <br /> I <br /> Section 5.09. Occuoancv Standards. ! <br /> I <br /> During the Owner-Occupied Affordability Restrictions Term, each Affordable Unit <br /> shall be occupied as the Principal Residence of Qualified Buyer and for no other purpose. <br /> A Qualified Buyer shall not enter into agreements for the rental or lease of the Affordable I <br /> Units or otherv✓ise allow for the rental or lease of the same. The maximum occupancy of <br /> the Affordable Units shall not exceed the maximum occupancy allowed pursuant to the <br /> general requirements of the United States Department of Housing and Urban � <br /> Development, which as of the date of this Agreement, is two (2) persons per bedroom, <br /> plus one (1) person. � <br /> Section 5.10 Release of Prooertv From Aqreement. <br /> This Agreement shall initialiy be recorded against the entire Property. Except as � <br /> othervvise provided in this Section, the covenants and conditions contained in this <br /> Agreement shall apply to and bind, during their respective periods of fee ownership, I <br /> OWNER and its heirs, executors, administrators, successors, tra�sferees, and assignees i <br /> having or acquiring any right, title or interest in or to any part of the Affordable Units within <br /> the Property and shall run with and burden such portions of the Property until terminated <br /> in accordance with this Section 5.10 Until portions of the Property are released from the � <br /> burdens of this Agreement pursuant to this Section 5.10, the owners of fee title to the � <br /> Property shail expressly make the conditions and covenants contained in this Agreement <br /> a part of any deed or other instrument conveying any interest in such Property. As and <br /> when the Project units are made available for sale and sold as condominium units, (i) <br /> concurrently with the sale of each unit which is not an Affordable Unit, this Agreement will <br /> be terminated as to such unit and the lien of this Agreement shall be reconveyed as to <br /> such unit, and (ii) concurrently with the sale of each Affordable Unit to a Qualified Buyer in <br /> compliance with this Agreement, this Agreement shall be terminated as to such Affordable <br /> Unit and the Resale Restriction Agreement required by Section 5.01 of this Agreement <br /> shall be recorded against such Affordable Unit. <br /> Article VI <br /> General Provisions � <br /> Section 6.01. Maintenance of Prooertv. i <br /> During such time as the Affordabiiity Covenants set forth in this Agreement are in � <br /> effect, all improvements developed upon the Property, including without limitation, the <br /> Affordable Units, hardscaping and landscaping, shall at all times be maintained in a neat <br /> and orderly condition, good order and repair, consistent with good ownership practices, I <br /> and in accordance with all applicable Federal, State and local laws. � � <br /> Section 6.02. Events of Default: Enforcement. � <br /> In the event of a default in the performance or observance of any covenant, <br /> agreement or obligation as set forth in this Agreement and, if such default remains � <br /> uncured for a period of thirty (30) days after notice thereof shall have been given by the i <br /> City, or such longer period as may be approved by the City in writing in its sole discretion; I <br /> 11 j <br /> I <br /> i <br /> i <br />
The URL can be used to link to this page
Your browser does not support the video tag.