My WebLink
|
Help
|
About
|
Sign Out
Home
Affordable Housing Reg Agmt APN 752812 7528112 04232020
CityHall
>
City Clerk
>
City Council
>
Recorded Documents
>
2020
>
Affordable Housing Reg Agmt APN 752812 7528112 04232020
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/22/2020 9:26:23 AM
Creation date
9/22/2020 9:26:05 AM
Metadata
Fields
Template:
CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
4/23/2020
Recorded Document Type
Declaration of Restrictions
Retention
PERM
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
21
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
4.3 Reconveyance. Upon the termination of this Agreement, the Parties <br />agree to execute and record appropriate instruments to release and discharge this <br />Agreement; provided, however, the execution and recordation of such instruments shall <br />not be necessary or a prerequisite to the termination of this Agreement upon the <br />expiration of the term specified in Section 4.1. <br />5. Binding Upon Successors; Covenants to Run with the Land. Owner hereby <br />subjects its interest in the Property and the Project to the covenants and restrictions set <br />forth in this Agreement. The City and Owner hereby declare their express intent that <br />the covenants and restrictions set forth herein shall be deemed covenants running with <br />the land and shall be binding upon and inure to the benefit of the heirs, administrators, <br />executors, successors in interest, transferees, and assigns of Owner, City, regardless of <br />any sale, assignment, conveyance or transfer of the Property, the Project or any part <br />thereof or interest therein. Any successor-in-interest to Owner, including without limitation <br />any purchaser, transferee or lessee of the Property or the Project (other than the tenants <br />of the individual dwelling units within the Project) shall be subject to all of the duties and <br />obligations imposed hereby for the full term of this Agreement. Each and every contract, <br />deed, ground lease or other instrument affecting or conveying the Property or the Project <br />or any part thereof, shall conclusively be held to have been executed, delivered and <br />accepted subject to the covenants, restrictions, duties and obligations set forth herein, <br />regardless of whether such covenants, restrictions, duties and obligations are set forth in <br />such contract, deed, ground lease or-other instrument. If any such contract, deed, <br />ground lease or other instrument has been executed prior to the date hereof, Owner <br />hereby covenants to obtain and deliver to City an instrument in recordable form signed <br />by the parties to such contract, deed, ground lease or other instrument pursuant to <br />which such parties acknowledge and accept this Agreement and agree to be bound <br />hereby. <br />Owner agrees for itself and for its successors that in the event that a court of <br />competent jurisdiction determines that the covenants herein do not run with the land, <br />such covenants shall be enforced as equitable servitudes against the Property and the <br />Project in favor of City. <br />6. Property Management; Repair and Maintenance; Marketing. <br />6.1 Management Responsibilities. Owner shall be responsible for all <br />management functions with respect to the Property and the Project, including <br />without limitation the selection of tenants, certification and recertification of <br />household income and eligibility, evictions, collection of rents and deposits, <br />maintenance, landscaping, routine and extraordinary repairs, replacement of capital <br />items, and security. City shall have no responsibility for management or maintenance <br />of the Property or the Project. <br />6.2 Management Entity. City shall have the right to review and approve <br />the qualifications of the management entity proposed by Owner for the Project. The <br />contracting of management services to a management entity shall not relieve <br />2890662.3 7
The URL can be used to link to this page
Your browser does not support the video tag.