HomeMy WebLinkAboutResolution 582 Actions Related 2 Conveyance APN 627-092-050 and 627-092-006PALM DESERT REDEVELOPMENT AGENCY
STAFF REPORT
REQUEST: CONSIDERATION FOR APPROVAL OF ACTIONS RELATED TO THE
CONVEYANCE OF TVVO SINGLE-FAMILY LOTS TO HABITAT FOR
HUMANITY OF THE COACHELLA VALLEY, INC. (PURSUANT TO
HEALTH AND SAFETY CODE 33433 (c)) KNOWN AS APN NOS. 627-
092-050 AND 627-092-006
SUBMITTED BY: Janet Moore, Director of Housing
Jessica Gonzales, Management Analyst - Housing
DATE: February 24, 2011
CONTENTS: Agency Resolution No. 582
Disposition and Development Agreement
Habitat for Humanity of the Coachella Valley Letter
Site Map
Recommendation
1) That the Agency Board:
1) Conduct a public hearing and accept testimony on the conveyance of two
single-family lots located at San Benito Circle known as APN 627-092-050
and APN 627-092-006 (the "Property") to Habitat for Humanity of the
Coachella Valley, Inc. ("Habitat") for the purpose of constructing two single-
family dwellings to be made available to qualified households of lower
income.
Following public testimony:
2) Waive further reading and adopt Agency Resolution No. 582 pursuant to
California Health and Safety Code Section 33433 (c) approving the
conveyance of the Property to Habitat pursuant to a disposition and
development agreement between the Agency and Habitat in substantially the
form presented to the Agency at this meeting (the "Agreement").
3) By Minute Motion, approve deferred payment ("Silent Second") Trust Deeds
in favor of the Agency in amounts necessary, not to exceed $20,000.00 per
lot; and if necessary an additional amount of $20,000.00 for homebuyer
assistance to secure an affordable housing cost pursuant to the
Redevelopment Law. Funds are available in Housing Mitigation Account No.
214-4490-466-3901 and Housing Set Aside Account No. 870-4699-464-4001.
4) By Minute Motion, reaffirm reimbursement from Housing Set -Aside funds to
the Agency for acquisition and auxiliary costs associated with the subject
property. Funds are available in Housing Set Aside Account No. 870-4492-
464-4001.
Staff Report
Public Hearing APN Nos. 627-092-050 and 627-092-006
February 24, 2011
Page 2 of 3
Executive Summary
The Agency has received a letter from Habitat requesting the donation of vacant lots to build
single-family dwelling units in connection with a vocational program with the College of the
Desert. Habitat has built nine (9) homes in the City of Palm Desert and has been successful in
building quality housing for low income families. The lots would be suitable for this purpose and
staff recommends that the above -mentioned lots be donated to Habitat subject to a deed of trust
in favor of the Agency in the amount of $20,000.00 per lot, and if necessary an additional
amount of $20,000.00 for homebuyer assistance to a lower income household to secure an
affordable housing cost pursuant to the Redevelopment Law.
Background
The above -referenced lots are owned by the Agency. On January 8, 2009, the Agency Board
authorized reimbursement for acquisition costs of the lots using Housing Set -Aside funds in the
event the property was designated for a lower income household. They were acquired as part
of the Alessandro Alley widening project with the specific intent to construct a single-family
dwelling on each lot to be made available to lower income households.
Health and Safety Code Section 33433(a) and (b) generally provide that before any property of
the Agency acquired, in whole or in part, directly or indirectly, with tax increment moneys is sold
for development pursuant to the redevelopment plan, the sale must first be approved by the City
Council by resolution after a public hearing and the resolution must contain certain findings.
Health and Safety Code Section 33433(c) provides that the requirements of subdivisions (a) and
(b) will not apply to the sale of a "small housing project" if the City Council adopts a resolution
that authorizes the Agency to sell small housing projects pursuant to Section 33433(c).
Pursuant to its Resolution No. 03-34, adopted on April 10, 2003, the City Council authorized the
Agency to sell small housing projects pursuant to Section 33433(c). The Property constitutes a
small housing project.
Health and Safety Code 33433 (c) provides that the sale of a small housing project must be
approved by the Agency following a public hearing. The purpose of the public hearing is to
receive public testimony as prescribed by law. Notice of the time and place of the public
hearing was published in a newspaper of general circulation in the community for at least two
(2) weeks prior to the hearing.
Attached for your review and approval is the proposed Agreement and related documents which
provide for the conveyance of the Property from the Agency to Habitat. The Agreement and
related documents provide, among other things, for the following:
1. The recordation of a deed of trust in favor of the Agency in the amount of
$20,000.00 per each lot.
2. The construction of a single family home on each lot by Habitat, which includes
the incorporation of energy efficient elements above Title 24 and sustainability
features.
3. The recordation of a 45-year affordability covenant in favor of the Agency for
each lot.
GArda\Patty Leon\JMM\staff report\San Benito Lots - RDA Habitat Donation - Staff Report 2-24-11.doc
Staff Report
Public Hearing APN Nos. 627-092-050 and 627-092-006
February 24, 2011
Page 3 of 3
4. The sale of each single family home by Habitat to a lower income household at
an affordable housing cost.
5. Resale price controls and an option for the Agency to purchase upon resale
Fiscal Analysis
The Agency previously purchased the Property for $296,711.84 (APN 627-092-050 $175,175.13
and APN 627-092-006 $121,536.71). The fiscal impact to the Agency in connection with the
proposed Agreement includes the auxiliary costs to the Agency related to the conveyance of the
land such as escrow fees, and any Agency Silent Seconds in amounts necessary to secure an
affordable housing cost.
Submitted by:
Department Head:
Jessi onzales, Man emenrAnalyst Jalpet More, Director of Housing
Approval:
Z
McCarthy, ACM/Redevelopment
MI. Wohlmuth, Executive Director
Paul Gibson, Director of Finance
/awl 5-6
• BY RDA
(7,7*
VERIFIED BY P1)/ airbrillj
Original on file with City C k'8 Office
GArda\Patty Leon\JMM\staff report\San Benito Lots - RDA Habitat Donation - Staff Report 2-24-11.doc
RESOLUTION NO. 582
A RESOLUTION OF THE PALM DESERT REDEVELOPMENT
AGENCY APPROVING A DISPOSITION AND
DEVELOPMENT AGREEMENT BETWEEN THE AGENCY
AND HABITAT FOR HUMANITY OF THE COACHELLA
VALLEY, INC., PURSUANT TO HEALTH AND SAFETY
CODE SECTION 33433(c)
THE PALM DESERT REDEVELOPMENT AGENCY HEREBY FINDS,
DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1. The Palm Desert Redevelopment Agency (the "Agency") owns
two lots located at San Benito Circle in the City of Palm Desert, California described as APN
No. 627-092-050 and APN No. 627-092-006 (collectively, the "Property"). The Agency
proposes to sell the Property to Habitat for Humanity of the Coachella Valley, Inc. ("Habitat")
for the purpose of Habitat constructing a single family dwelling on each lot for sale to and ,
occupancy by qualified low income households pursuant to the disposition and development
agreement (the "Agreement") presented to the Agency at this meeting and now on file in the
offices of the Agency Secretary and City Clerk of the City of Palm Desert.
Section 2. Following notice duly given, the Agency has held a full and fair
public hearing on the sale by the Agency of the Property to Habitat pursuant to Health and Safety
Code Section 33431. The Agency has made available to the public through the offices of the
Agency Secretary and City Clerk a copy of the Agreement prior to the public hearing.
Section 3. Health and Safety Code Section 33433(a) and (b) generally
provide that before any property of the Agency acquired, in whole or in part, directly or
indirectly, with tax increment moneys is sold for development pursuant to the redevelopment
plan, the sale must first be approved by the City Council by resolution after a public hearing and
the resolution must contain certain findings. Health and Safety Code Section 33433(c) provides
that the requirements of subdivisions (a) and (b) will not apply to the sale of a "small housing
project," as defined in Health and Safety Code Section 33013, if the City Council adopts a
resolution that authorizes the Agency to sell small housing projects pursuant to Section 33433(c).
Pursuant to its Resolution No. 03-34, the City Council authorized the Agency to sell small
housing projects pursuant to Health and Safety Code Section 33433(c).
Section 4. The Agency hereby finds and determines that the Property
qualifies as a "small housing project" as that term is defined in Health and Safety Code 33013.
Section 5. The Agency hereby approves the Agreement and the Executive
Director is hereby authorized and directed, for and in the name and on behalf of the Agency, to
execute and deliver the Agreement in substantially the form on file with the Agency Secretary
and the City Clerk and presented at this meeting, with such additions thereto or changes or
insertions therein as may be approved by the Executive Director (such approval to be
conclusively evidenced by such execution and delivery).
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Section 6. The officers of the Agency are hereby authorized and directed,
jointly and severally, to execute and deliver any and all necessary documents and instruments
and to do all things which they may deem necessary or proper in order to effectuate the purposes
of this Resolution and the transactions contemplated hereby; and any such actions previously
taken by such officers are hereby ratified, confirmed and approved.
Section 7. Agency staff is hereby directed, within 30 days after the end of the
Agency's fiscal year in which the sale of the Property to Habitat occurs, to file a report with the
City Council which discloses the name of the buyer, the legal description or street address of the
Property, the date of the sale, the consideration for which the Property was sold by the Agency to
the buyer, and the date on which the Agency held its public hearing for the sale.
2011.
ATTEST:
Secretary
PASSED, APPROVED and ADOPTED this day of
Chairman
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PgAill_f1(1111 \ 1 glild 11.'1 0nn ricinitn I nk. 00 00
DISPOSITION AND DEVELOPMEN i ENT
BY AND BE N THE
PALM DESE VELOP AGENCY
ANITY OF T E COACHELLA VALLEY, INC.
"Developer"
FEBRUARY , 2011
P6402-0201 \1309935v4.doc
DISPOSITION AND DEVELOPMENT AGREEMENT
THIS DISPOSITION AND DEVELOPMENT AG
as of February , 2011 (the "Effective Date") is enter
DESERT REDEVELOPMENT AGENCY, a public
and HABITAT FOR HUMANITY OF THE CO
profit public benefit corporation (the "Develop
hereinafter sometimes individually referred
"parties".
A L S
and co
T (this "Agreement"), dated
between the PALM
te and politic (the "Agency"),
LEY, INC., a California non -
the Developer are
'vely referred to as the
This Agreement is entered into wi erence to the following facts:
A. The purpo
Project Area No. 1 (the "R
California, by facilitating co
within the boundaries of Proje
B.
the City
functi
the State
California).
re
particular
Parcel A and
"Property"). Th
Developer to co
rty (the "Project'
his Agreement ffectuate the Redevelopment P
ment Plan") o gency, in ity of Palm Des
of low incom e-fa ces on real pro
1 (the "Proje
edevelopment
dopted on J
he Agen
powers, and o
lifornia (being
Area, p
the Projec
in accordance
the
'bed
B
public bo
ed and ex
33000 e
ency owns t
f Pal
(P
ope o acqu
the vements
Developmen
additional jobs,
and provide sin
the purposes an
F. The
provisions relating to
the provisions of the Re
e Proj '11
bstan
approved ed by Ordinance No. 80 of
rpora
under
. of the
interest in t
ounty of Ri
hereto and i
referred t
e to the
is
olitic, e
munit
d Safe
g governmental
velopment Law of
e of the State of
eels of r- serty Project
State of Cali
rated herein by ence as
ein collectively as
rty from the Agency to enable
in Section 1.1.26) on the
assist in the e of blight in the Project
mprove the econe c and physical conditions in
mily r ces to qualified households of low income, all
s of th velopment Plan.
cy has determ
pment oft
ment P
G. The Agency ha
Agreement is in the best interest
residents and taxpayers of the Proje
provisions of applicable state and loca
hat the la 1 ses specified in this Agreement and the
ect specified in this Agreement are consistent with
each of its applicable elements.
t the development of the Project pursuant to this
ncy, and the health, safety and welfare of the
ea, and is in accord with the public purposes and
laws.
P6402-0201 \1309935v4.doc
H. A material inducement to the Agency to enter into this Agreement is the
agreement by the Developer to develop the Project within a limited period of time, and the
Agency would be unwilling to enter into this Agreement in the absence of an enforceable
commitment by the Developer to develop the Project within such period of time.
NOW, THEREFORE, in reliance upon the foregoing Recitals, in consideration of the
mutual covenants in this Agreement and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
ARTICLE 1
DEFINITIONS
1.1 Definitions. The following terms as used i nt shall have the
meanings given unless expressly provided to the contrar
1.1.1 AHRLA means the Affordas d using Restriction en Agreement
in the form attached hereto as Exhibit F and inc ed herein y this referen
1.1.2 Agency means the Palm Des ent Agency, a pu • lie body,
corporate and politic, exercising govern ental functio owers, and organized and existing
under the Community Redevelopmen the State o fornia, with full power and
authority to execute this Agreement. office o gency is located at 73-510
Fred Waring Drive, Palm Desert, CA 9
1.1.5
be provided b the Age
Improve
the
eans thi elopment Agreement.
5.3.2.
s a certificate described in Section 3.15, to
isfactory completion of construction of the
ccupancv means a final certificate of occupancy issued by
s the City of Palm Desert, a municipal corporation, exercising
governmenta tions an. ers, and organized and existing under the laws of the State of
California. The ipa e of the City is located at 73-510 Fred Waring Drive, Palm Desert,
CA 92260-2578.
1.1.8 Close of Escrow and Closing are defined in Section 2.3.2.
1.1.9 Commencement Date is defined in Section 3.1.1.
1.1.10 Completion Date is defined in Section 3.1.1.
1.1.11 Deed of Trust means the Deed of Trust, Assignment of Rents and Security
Agreement in the form attached hereto as Exhibit G and incorporated herein by this reference.
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P6402-0201 \ 1309935 v4.doc
1.1.12 Deemed Disapproved Exceptions is defined in Section 2.5.2.
1.1.13 Default is defined in Section 6.1.
1.1.14 Developer means Habitat for Humanity of the Coachella Valley, Inc., a
California non-profit public benefit corporation. The principal office of the Developer for
purposes of this Agreement is , Palm Desert, California
Attention:
1.1.15 Disapproved Exceptions is defined in Sectio
1.1.16 Disapproval Notice is defined in Sectio
1.1.17 Due Diliaence Period is defined in e on 2.7.
1.1.18 Escrow is defined in Section
1.1.19 Escrow Holder means Fo
Escrow Holder for purposes of this Agreement is
California 92211, Telephone: (760) 773-5333; Fax: (
1.1.20 Force Maieure
1.1.21 Grant Deed is defi
1.1.22
hereafter defined as o
"hazardous materi
substances," "pollut
"hazardous air pollutan
,
Escrow, The principa e of the
Bo k, Suite G-2, Pa Desert,
289; Attention:
fined in S 6.7.
H terials chem aterial or substance now or
"hazardous substances," "hazardous wastes,"
" "restricted hazardous waste," "toxic
hazardous chemical substance or mixture,"
of similar import under any local, state or
s adopte Ications promulgated pursuant thereto
g, without limitation: the Comprehensive Environmental
Act of 1980, 42 U.S.C. § 9601, et seq. ("CERCLA"); the
,as amended, 49 U.S.C. § 1801, et seq.; the Federal
d, 33 U.S.C. § 1251, et seq.; and the Resource
of 1976, 42 U.S.C. § 6901, et seq. The term "Hazardous
of the following: any and all toxic or hazardous substances,
United States Department of Transportation Table (49 CFR
172.101) or by the ental Protection Agency as hazardous substances (40 CFR Part 302)
and in any and all am ents thereto in effect as of the date of the close of any escrow; oil,
petroleum, petroleum products (including, without limitation, crude oil or any fraction thereof),
natural gas, natural gas liquids, liquefied natural gas or synthetic gas usable for fuel, not
otherwise designated as a hazardous substance under CERCLA; any substance which is toxic,
explosive, corrosive, reactive, flammable, infectious or radioactive (including any source, special
nuclear or by-product material as defined at 42 U.S.C. § 2011, et seq.), carcinogenic, mutagenic,
or otherwise hazardous and is or becomes regulated by any governmental authority; asbestos in
any form; urea formaldehyde foam insulation; transformers or other equipment which contain
dielectric fluid containing levels of polychlorinated biphenyl's; radon gas; or any other chemical,
federal la
applica
Res
Haz
Water
Conservat
Materials" sh
materials or wa
the
the
e
, Compensat
Materials Tra
'on Control A
d Recovery
o includ
• ted '
ded in
extremely
cont..
in
d L
aft()
amen
definiti
rdous w
" "immin
P6402-0201 \1309935v4.doc
-3-
material or substance (i) which poses a hazard to the Property, to adjacent properties, or to
persons on or about the Property, (ii) which causes the Property to be in violation of any of the
aforementioned laws or regulations, or (iii) the presence of which on or in the Property requires
investigation, reporting or remediation under any such laws or regulations.
1.1.23 Holder is defined in Section 4.1.1.
1.1.24 Improvements means the improvements described in Section 3.1.1.
1.1.25 Outside Date is defined in Section 2.3.2.
1.1.26 Parcel A and Parcel B are described in
1.1.27 Plans and Specifications is define ction 3.
1.1.28 Project is defined in Recital
1.1.29 Proiect Area is defined in tal A.
1.1.30 Promissory Note means a Pro e Secured by Deed of Trust in
the form attached hereto as Exhibit H corporated • by this reference.
1.1.31 Property is defin
1.1.32 Prop ocuments
1.1.33
subject to the provi
reference and made
ed in Recital A. This Agreement shall be
which are incorporated herein by this
orth herein.
Section 2.8.
d is defined in Section 2.5.2.
eement is defined in Section 2.7.1.
of Performance means the schedule attached hereto as Exhibit B
and incorpora reference.
1.1. e of Development means the description the Improvements contained
in Exhibit D attached eto and incorporated herein by this reference.
1.1.39 Survey is defined in Section 2.5.1.
1.1.40 Title Company is defined in Section 2.5.3.
1.1.41 Title Policy is defined in Section 2.5.3.
1.1.42 Title Report is defined in Section 2.5.1.
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P6402-0201 \1309935v4.doc
1.1.43 Transaction Costs means all attorney's fees, staff time, appraisal costs, and
costs of financial advisors and other consultants.
1.1.44 Transfer is defined in Section 4.1.1.
ARTICLE 2
CONVEYANCE OF THE PROPERTY
2.1 Conveyance. Subject to and in accordance with the te s and conditions herein
set forth, the Agency agrees to convey the Property to the Develope the Developer agrees
to acquire the Property from the Agency.
2.2 Consideration. The Agency shall convey the rt
consideration for the Developer's agreement to construct e prove
Developer and use restrictions set forth in the AHRL the Develope
delivery of Promissory Notes in the amount of Tw ousand Dollars
of Trust with respect to each of Parcel A and Pa
2.3 Escrow.
2.3.1 Opening of Es
execution of this Agreement, the Deve
with the Escrow Holder for the transfer
deposit with the Escrow Holder a fully ex
shall serve as the escrow i
agreement of the partie
Agreement, and to c
2.3.2
Holder causes p e Grant
the Co
Close
Esc
the C
terminat
appropriate
connection wi
row.
e "Outside
does not occu
onies and d
, and each
h term.
s (whic
w. Th
s the E
ithin thirty
e Agenc
o the
e Developer in
the covenants of the
ecution and
0) and Deeds
(
days after the parties' full
open an escrow (the "Escrow")
oper. The parties shall
this Agreement, which
pp • in writing by mutual
w Holder i authorized to act under this
w Holder hereunder.
row" or "Closing" means the date Escrow
ere to be recorded in the Official Records of
sion of the Pros y shall be delivered to the Developer on the
shall occur within sixty (60) days following the opening of
y reason other than a default by the Agency or Developer
or be he Outside Date, this Agreement shall automatically
ents • eposited into the Escrow shall be promptly returned to the
shall pay its one-half (1/2) of any Escrow charges and fees in
n.
2.3. ery of Closing Documents.
(a) The Agency and Developer agree to deliver to Escrow Holder, at
least two (2) days prior to the Close of Escrow, the following instruments and documents, the
delivery of each of which shall be a condition precedent to the Close of Escrow:
(b) The Grant Deed, duly executed and acknowledged by the Agency,
conveying a fee simple interest in the Property to Developer, subject only to such exceptions to
title as Developer may have approved or have been deemed to approve pursuant to Section 2.5.2;
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P6402-0201 \1309935v4.doc
(c) Two (2) copies of the AHRLA (one pertaining to Parcel A and the
other to Parcel B), each duly executed and acknowledged by the Developer;
(d) Two (2) copies of the Promissory Note (one pertaining to Parcel A
and the other to Parcel B), each in the stated principal amount of Twenty Thousand Dollars
($20,0000 and duly executed by the Developer;
(e) Two (2) copies of the Deed of trust (one pertaining to Parcel A and
the other to Parcel B), each duly executed and acknowledged by the D -veloper;
(0 Two (2) copies of the Notice of Af ility Restriction on
Transfer of Property in the form attached hereto as Exhibit I a orated herein by this
reference (one pertaining to Parcel A and the other to Parce ac executed and
acknowledged by Agency and Developer;
(g) The Agency's affida ontemplated by C. ia Revenue and
Taxation Code Section 18662;
(h) A Certification of No
accordance with Internal Revenue Code Section 1445;
us signed by Agency in
(i) Such pro •ency's veloper's authority and
authorization to enter into this transactio ompan reasonably require in order
to issue the Title Policy.
The Age evelop r agree to ecute such reasonable and
customary additiona ments, uch ad • al escrow instructions, as may be reasonably
required to close t saction w is the su of this Agreement pursuant to the terms
hereof
2. ons se of Escrow. e obligations of the Agency and Developer to
close t bject of this Agreement shall be subject to the satisfaction, or
wai d thereby, of each of the following conditions:
enefit the Agency, the Developer shall have deposited such
funds as ar essary to pa costs and expenses payable by Developer hereunder.
enefit of the Agency, all actions and deliveries to be undertaken
or made by Develo prior to the Close of Escrow shall have occurred, as reasonably
determined by the Ag
2.4.3 For the benefit of the Developer, all actions and deliveries to be
undertaken or made by the Agency on or prior to the Close of Escrow shall have occurred, as
reasonably determined by the Developer.
2.4.4 For the benefit of the Agency, all Agency approvals required to be
obtained prior to the Close of Escrow shall have been so obtained.
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P6402-0201 \1309935v4.doc
2.4.5 For the benefit of the Agency, the Developer shall have executed and
delivered to Escrow Holder all documents and funds required to be delivered to Escrow Holder
under the terms of this Agreement and the Developer shall otherwise have satisfactorily
complied with its obligations hereunder.
2.4.6 For the benefit of the Developer, the Agency shall have executed and
delivered to Escrow Holder all documents and funds required to be delivered to Escrow Holder
under the terms of this Agreement and the Agency shall otherwise have satisfactorily complied
with its obligations hereunder.
2.4.7 For the benefit of the Agency, the represe s and warranties of the
Developer contained in this Agreement shall be true and con
Close of Escrow.
2.4.8 For the benefit of the Develop
committed to issuing in favor of the Developer the
endorsements reasonably acceptable to the Dev
2.5 Condition of Title: Survey: Title Ins
2.5.1 Within five (5) s da
Agreement, the Agency shall deliver to
(i) a current preliminary title report cove
of any instruments noted as exceptions the
Agency's possession. Th er at its
survey of the Property cc ith the
cooperate with the r updat
Developer shall be ed by a r ered sury
days following the De
or obtained evel
De
Deve
any exce
"Disapprov
reasonable pa
within the Revie
receipt of the Disap
btains a Surve
to title show
ceptions")
rity (t
aterial respects as of the
e Company sh irrevocably
olicy, in form and ance, and with
as provid in Section 2.
ys after
er for
arties' full execution of this
eloper's review and approval,
Report") and legible copies
the Property in the
in a current or updated ALTA
ce of the Ti le Policy and the Agency shall
urvey of the Property undertaken by the
and shall be completed within thirty (30)
port. Any survey provided by the Agency
reunder.
er shall have fifteen (15) days after the date of the
and the Survey (if the Agency provides a Survey or the
desc in Section 2.5.1) (the "Review Period") to disapprove
the Title Report or reflected on the Survey (collectively,
to provide Agency with notice thereof describing the defect with
isapproval Notice"). Any exceptions to title not disapproved
I be deemed approved. Within ten (10) days after the Agency's
otice, the Agency shall notify the Developer whether or not the
Agency intends to rem sve the Disapproved Exceptions. The Agency shall be under no
obligation to remove any Disapproved Exception, but the Agency agrees to cooperate in good
faith with the Developer in the Developer's efforts to eliminate any Disapproved Exception,
provided the Agency is not obligated to pay any sum or assume any liability in connection with
the elimination of any such Disapproved Exception. If the Agency notifies the Developer that
the Agency intends to eliminate any Disapproved Exception, the Agency shall do so at least five
(5) days prior to the Close of Escrow. If the Agency notifies the Developer that the Agency does
not intend to eliminate any Disapproved Exception(s), the Developer, by notifying the Agency
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P6402-0201 \1309935v4.doc
within five (5) days after its receipt of such notice, may elect to terminate this Agreement or take
the Property subject to the Disapproved Exception(s). Notwithstanding the foregoing, the
Agency covenants to pay in full all loans secured by deeds of trust, any mechanics' and
materialmen's liens, and any other monetary liens (other than liens for charges, assessments,
taxes, and impositions subject to proration as provided in Section 2.6.2) (collectively, the
"Deemed Disapproved Exceptions") prior to, or concurrently with, the Close of Escrow. The
Title Policy shall include such endorsements as the Developer shall reasonably request. Any
endorsements to the Title Policy are to be paid for by the Developer. Notwithstanding the
foregoing, the Developer may notify the Agency of its disapproval of exception to title
(including exceptions reflected on the Survey) first raised by Title any or the surveyor after
the Review Period, or otherwise first disclosed to the Developer he Review Period, by the
earlier of (a) within ten (10) days after the same was first rais osed to the Developer in
writing, and (b) fifteen (15) days prior to the Close of Escrs ith ct to any exceptions
disapproved by the Developer in such notice, the Agen I have the option to eliminate
such exceptions that applies to Disapproved Excepti d the Develope 1 have the same
option to accept title subject to such exceptions o mate this Agreemen the Close of
Escrow, the Developer shall receive title to the rty by gra eed substanti the form
attached hereto as Exhibit E and incorporated here this cc (the "Grant d").
2.5.3 At Closing, the
Coverage Policy of Title Insurance (th
by the Developer, issued by First Amen
amount to be designated by the Develop
all Disapproved Exception eemed Di
covenants, conditions, r • d other
and assessments of r overdu
matters set forth or enced in th ant Dee
(c) such other encum er ap
the Title Report for the
Develope 2.5.2. The
of title
loper shall r
hey"), to
ance
CLTA Owner's Standard
with all endorsements requested
ny ("Title Company") in an
operty is free and clear of
d all liens, easements,
rances o cord except (a) current taxes
delinquent taxes or assessments, (b) the
e AHRLA, and the Deed of Trust, and
es in writing including those reflected in
er, or as are deemed approved by
oper may obtain an extended coverage policy
: Prorations.
loper shall be solely responsible for and shall pay all
documentary fer taxes, the costs of (i) any Survey obtained by the Developer, (ii) all
title insurance p ms e Title Policy, (iii) any endorsements to the Title Policy, and
(iv) all other usual mary costs, expense and charges relating to the escrow and
conveyance of title to • roperty, including without limitation, recording fees, document
preparation charges and escrow fees. Each party shall be responsible for its own Transaction
Costs.
2.6.2 All non -delinquent and current installments of real estate and personal
property taxes, other governmental charges, regular assessments, and impositions against the
Property on the basis of the current fiscal year or calendar year, if any, shall be pro -rated as of
the Close of Escrow based on the actual current tax bill. If the Close of Escrow shall occur
before the tax rate is fixed, the apportionment of taxes on the Close of Escrow shall be based on
-8-
P6402-0201 \1309935v4.doc
the tax rate for the next preceding year applied to the latest assessed valuation after the tax rate is
fixed, which assessed valuation shall be based on the Property's assessed value prior to the Close
of Escrow and the Agency and Developer shall, when the tax rate is fixed, make any necessary
adjustment. All prorations shall be determined on the basis of a 365 day year. The provisions of
this Section 2.6.2 shall survive the Close of Escrow and the recordation of the Grant Deed and
shall not be deemed merged into the Grant Deed upon its recordation.
2.7 Due Diligence Period; Access.
2.7.1 During the period (the "Due Diligence Perio
of the parties' full execution of this Agreement and ending at 5:0
fifteen (15) days thereafter, the Developer may inspect the Pr
all zoning and land use matters relating to the Property, an
the Property. Subject to the terms of the Right of Entry
which is attached hereto as Exhibit C (the "Right of
agents shall have the right to enter upon the Prope
inspections and other examinations of the Prop
without limitation, the right to perform surveys, s
right to perform environmental site assessments and
Developer's entry upon the Property, t
The Agency shall reasonably cooperat
review during the Due Diligence Perio
condition of the Property by written notic
Diligence Period, this Agre shall te
this Agreement, neither ve any
2.7.
documents related t
"Property Documents'
may, upon
relatin
repr
the Deve
Agency has
as expressly an
through or under t
releases the Agency
officers, directors, employees, representatives, agents, advisors, servants, independent
contractors, attorneys, successors and assigns, and all persons, firms, corporations and
organizations acting on the Agency's or City's behalf (collectively, the "Released Parties") from
any and all claims, responsibility and/or liability that the Developer may now have or hereafter
acquire against any of the Released Parties for any costs, loss, liability, damage, expenses,
demand, action or cause of action arising from or related to the matters pertaining to the Property
described in this Section 2.8. This release includes claims of which the Developer is presently
unaware or which the Developer does not presently suspect to exist which, if known by the
e Agency
roperty
ad
usine
r warrant t
arties shall e
Develope
the De
nor
ghts or
mencing on the date
. on the date which is
necessary to (i) approve
e physical condition of
ent in the form of
veloper and its
'od to make
eluding
y and the
e Property. Prior to the
the Right of Entry Agreement.
s conduct of the due diligence
er does not approve of the
expiration of the Due
ot ervvise expressly stated in
gations to the other party.
the Developer copies of those certain
Exhibit J attached hereto (collectively, the
f the Due Diligence Period, the Developer
notice to ncy, review any additional documents
cy's offices. The Agency does not expressly or impliedly
of the Property Documents are complete or accurate.
pp
ccess A
greement"), t
ng the Due Diligen
the impr ements there
d geol tests of the Pro
delivere
h are liste
Condition o
n an "AS IS
ligation to
ific
Prop ,. The Property shall be conveyed from the Agency to
ndition and basis with all faults and the Developer agrees that the
e modifications, replacements or improvements thereto. Except
ovided in this Agreement, the Developer and anyone claiming by,
er hereby waives its right to recover from and fully and irrevocably
e City, and their respective council members, board members,
P6402-0201 \ 1309935v4.doc
-9-
Developer, would materially affect the Developer's release of the Released Parties. If the
Property is not in a condition suitable for the intended use or uses, then it is the sole
responsibility and obligation of the Developer to take such action as may be necessary to place
the Property in a condition suitable for development of the Project thereon. Except as
specifically provided in this Agreement and without limiting the generality of the foregoing,
THE AGENCY MAKES NO REPRESENTATION OR WARRANTY AS TO (i) THE VALUE
OF THE PROPERTY; (ii) THE INCOME TO BE DERIVED FROM THE PROPERTY;
(iii) THE HABITABILITY, MARKETABILITY, PROFITABILITY, MERCHANTABILITY
OR FITNESS FOR PARTICULAR USE OF THE PROPERTY; (iv) E MANNER,
QUALITY, STATE OF REPAIR OR CONDITION OF THE PRO ; (v) THE
COMPLIANCE OF OR BY THE PROPERTY OR ITS OPE WITH ANY LAWS,
RULES, ORDINANCES OR REGULATIONS OF ANY AP E GOVERNMENTAL
AUTHORITY OR BODY; (vi) COMPLIANCE WITH AN ENTAL
PROTECTION OR POLLUTION LAWS, RULES, R TIONS, RS OR
REQUIREMENTS; (vii) THE PRESENCE OR AB OF HAZARD MATERIALS
AT, ON, UNDER OR ADJACENT TO THE PR• Y; (viii) THE FAC T ALL OR A
PORTION OF THE PROPERTY MAY BE LO 4 DON 0 EAR AN EA SUAKE
FAULT LINE; OR (ix) WITH RESPECT TO AN HE ER, THE DE OPER
FURTHER ACKNOWLEDGES AND AGREES T G BEEN GIVEN THE
OPPORTUNITY TO INSPECT THE ERTY AN IEW INFORMATION AND
DOCUMENTATION AFFECTING T RTY, T VELOPER IS RELYING
SOLELY ON ITS OWN INVESTIGA AND REVIEW OF SUCH
INFORMATION AND DOCUMENTAT AN IN A NFORMATION
PROVIDED OR TO BE P D BY
THE DEVEL
FAMILIAR WIT
WHICH IS SET FO
EDGES THAT IT HAS READ AND IS
ORNIA CIVIL CODE SECTION 1542,
DOES END TO CLAIMS WHICH THE
OW OR SUSPECT TO EXIST IN HIS OR HER
XECUTING THE RELEASE, WHICH IF
ST HAVE MATERIALLY AFFECTED HIS
THE DEBTOR."
BY LING B r W, DEVELOPER HEREBY WAIVES THE PROVISIONS OF
SECTION 154 EL ONNECTION WITH THE MATTERS WHICH ARE THE
SUBJECT OF TH OING WAIVERS AND RELEASES.
Developer's Initials
The waivers and releases by the Developer herein contained shall survive the Close of
Escrow and the recordation of the Grant Deed and shall not be deemed merged into the Grant
Deed upon its recordation.
-10-
P6402-0201 \1309935v4.doc
2.9 Escrow Holder.
2.9.1 Escrow Holder is authorized and instructed to:
(a) Pay and charge the Developer for any charges payable by the
Developer under this Article. Before such payments are made, the Escrow Holder shall notify
the Agency and the Developer of the fees, charges, and costs necessary to close the Escrow;
(b) Pay and charge the Agency for any char es payable by the Agency
under this Article. Before such payments are made, the Escrow Ho all notify the Agency
and the Developer of the fees, charges, and costs necessary to do Escrow;
(c) Disburse funds and deliver th
the parties entitled thereto when the conditions of the Es
fulfilled by the Agency and the Developer; and
and other documents to
ement have been
(d) Record the Grant P he AHRLAs, Deeds of and any
other instruments delivered through the Escrow, essary o s er, to vest tit the
Developer in accordance with the terms and provisi f t i cement.
2.9.2 Any amendme
signed by both the Agency and the De
se escrow i tions shall be in writing and
2.9.3 All communication sm the Hol. the Agency or the
Developer shall be direct ddresse • ablished in Section 8.1 of this
Agreement for notices, ommu s between e Agency and the Developer.
2.9.
to performance of th
hereto.
ow Holder under this Agreement is limited
er this Article, and any amendments
ARTICLE 3
MENT OF THE PROPERTY
rovements" to be completed by Developer shall be those
described in the lopment. The Developer shall, subject to extension for force
majeure delays as n Section 6.7 below, commence construction of the Project no later
than the date one huni. eighty (180) days after the Closing ("Commencement Date"). Subject
to force majeure delays as provided in Section 6.7 below, the Project shall be completed no later
than three hundred sixty-five (365) days after the Commencement Date ("Completion Date").
The Developer shall not unreasonably postpone the construction or completion of the Project.
The Improvements shall be designed for single-family residential use and shall comply with all
zoning and general plan requirements applicable to the Property, and the Property and
Improvements shall be sold to Qualified Households (as defined in the AHRLA) by no later than
five hundred forty (540) days after the issuance of the Certificate of Occupancy. To the extent of
-11-
P6402-0201 \ 1309935 v4.doc
any inconsistency between the Schedule of Performance and this Section 3.1.1, this Section 3.1.1
shall control.
3.1.2 The Developer, at its sole cost and expense, shall construct the
Improvements, and all associated public infrastructure improvements required by the City
pursuant to its conditions of approval, if any, in accordance with the Schedule of Performance,
within the limitations established therefor in this Agreement, and as required by the City. The
Developer shall also comply with any and all applicable federal, state and local laws, rules and
regulations, and any applicable mitigation measures adopted pursuant the California
Environmental Quality Act.
3.2 Agency's Right to Review Plans and Specifica
the Improvements, the Developer shall submit basic conce
final plans and specifications (collectively, the "Plans a
the City for review by its Development Services Dep
consist of (a) all building elevations, rendered, at
conceptual landscape plan, all on standard 18"x
same plans in the same format in preliminary desi
Institute of Architects design contract, with the addit
the buildings, and a plant material sche e for the lan
Specifications shall consist of the set
built. The Developer shall construct th
Specifications approved by the Agency a
3.3 Approval
to the Improvements
Department shall r
review, and either a
with the time periods
Any disap
The De
relat
reas
Depa
revised po
of the Plans
Depal tment.
uments in
practicable re
The City's D
in the same
ecificati
in
cificatio
t. Basic cone
of V4=1'-0"; (b) a si
eets. Prelinary plans s
tus as• fled in a standa
ction docu
ts in co
connection with design of
eliminary plans, and
the Agency and to
awings shall
; and (c) a
nsist of the
American
erial schedule/color board for
plan. Final Plans and
from which the Project will be
nce with the final Plans and
Spec' IF itho iting the provisions pertaining
the Sco Development, City's Development Services
Specific s for appropriate entitlement. Submission,
val of the s and Specifications shall be consistent
ty's Development Services Department.
pecifica 11 state in writing the reasons for disapproval.
isapproval, shall revise such portion of the plans, drawings or
tisfies the reasons for disapproval and shall as soon as
vised portions to the City's Development Services
opmen ervices Department shall approve or disapprove such
er as provided in this Agreement for approval or disapproval
nitially submitted to the City's Development Services
3.4 Chan Plans and Specifications. If the Developer desires to make any
material change to any of the Plans and Specifications after their approval by the City's
Development Services Department, the Developer shall submit the proposed changes to the
City's Development Services Department for its approval. The City's Development Services
Department shall approve or disapprove such revised portions in the same manner and within the
same time limits as provided in this Agreement for approval or disapproval of the Plans and
Specifications initially submitted to the Agency.
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P6402-0201 \1309935v4.doc
3.5 Cost of Construction. The cost of constructing the Improvements, together with
all on and off -site improvements, as set forth in the Scope of Development or otherwise required
by the City, City Engineer, or City Planner, shall be borne solely by the Developer. The parties
hereby acknowledge and agree that any increase in costs above the amounts projected or
assumed by Developer, or decreases in revenues below the amounts projected or assumed by
Developer, shall be at the sole financial risk of Developer.
3.6 Further Development Matters. The Developer understands and agrees that as a
condition of the conveyance of the Property the Developer shall devel or cause to be
developed, two single-family residences in accordance with the Sc Development. The
Developer shall endeavor to install as many features set forth in ope of Development as
reasonably possible; however, any alternative features and/or may be proposed that will
provide more effective features or better performance. All alte e features and/or
products shall be subject to the prior approval of the Cit he Scope o elopment may be
revised from time to time as necessary and if mutual upon in wri etween
Developer and City.
3.7 City and Other Governmental Age
commencement of construction or development of
the Developer shall (at the Developer'
permits, which may be required by th
jurisdiction over such construction or d
3.8 Construction edule. Su
Section 6.7, the Develop n and
the Schedule of Perfo
3.9 Pro
Property, the Develop
of the Age fore
written
detai
reas
the De
3.10
to which the A
Scope of Develop
right of access to the
being performed at the
ense) secure,
ny other
aDrovals. Be
provements on the Property,
use to be secured, any and all
ental agency having
ys as provided in
on within the times specified in
struction of the Improvements on the
'thin ten (10) days following each request
quests s mitted no more frequently than monthly), a
ate of the construction. The report shall be in such form and
ency of the status of construction to date, and shall include a
o requested by the Agency) taken since the last report by
. In addition to those rights of access to and across the Property
ty may be entitled by law, and as additionally provided in the
ers of the staffs of the Agency and the City shall have a reasonable
erty, without charge or fee, at any reasonable time, to inspect the work
roperty.
3.11 Local, State and Federal Laws. The Developer shall carry out the construction of
the Improvements in conformity with all applicable laws, including all applicable federal, state
and local occupation, safety and health laws, rules, regulations and standards. Without limiting
the foregoing, the Developer shall construct or cause the Improvements to be constructed in full
compliance with all applicable provisions of state, federal and local prevailing wage laws and all
rules and regulations promulgated pursuant thereto, including, without limitation, the prevailing
-13-
P6402-0201 \1309935v4.doc
wage laws of the State of California set forth in the California Labor Code, Division 2, Part 7 and
California Code of Regulations, Title 8. The Developer agrees to indemnify, defend and hold the
Agency harmless from and against any cost, expense, claim, charge or liability relating to or
arising directly or indirectly from any breach by or failure of the Developer or its contractor(s) or
agents to comply with such laws, rules or regulations. The indemnification obligations described
in this Section 3.11 shall survive the termination of this Agreement and the recordation of the
Grant Deed and shall not be deemed merged into the Grant Deed upon its recordation.
3.12 Nondiscrimination During Construction. Developer fo 'tself and its successors
and assigns agrees that in the construction of the improvements on operty provided for in
this Agreement:
3.12.1 Developer will not discriminate agai
employment because of race, color, religion, creed, nati
sex or sexual orientation. Developer will take reaso
employed, and that employees are treated during e
religion, creed, national origin, ancestry, physic
status, sex or sexual orientation. Such action sha
employment, upgrading, demotion, or transfer; recru
termination; rates of pay or other form compensatio
ye
gin, anc
ction to ensure
ent without regar
dicap, me • al condition,
de, b e limited to, t
apprenticeship. Developer agrees to p spicuous p
applicants for employment, notices setti rovision
3.12.2 Deve
by or on behalf of Devel
employment without
age, marital status,
3.12.3
contracts f. e rk
each co
contr
allo
during
Agency.
r sub contr
resentatives o
ar business ho
will, in a
at all q plica
lor, reli
ation.
ee or applicant for
age, marital status,
pplicants are
eir race, color,
arital
ollowing:
ruitment advertising, layoff or
selection for training, including
available to employees and
his nondiscrimination clause.
erti ments for employees placed
I receive consideration for
creed, national origin, ancestry, disability,
ing provisions to be inserted in all
this Au o that such provisions will be binding upon
provided that the foregoing provisions shall not apply to
commercial supplies or raw materials. Developer shall
to its employment records related to this Agreement
ompliance with these provisions when so requested by
3.13 Use Reauirements: Environmental Review.
3.13. eloper will attend all proceedings, which may be necessary so that the
development and use o the Property shall be in conformity with applicable zoning and general
plan requirements of the City.
3.13.2 Developer shall take all necessary steps so that the development and use of
the Property shall be in conformity with applicable zoning and general plan requirements,
including the conditions of approval of any required land use entitlements, and that all applicable
environmental mitigation measures and other requirements shall have been complied with.
-14-
P6402-0201 \1309935v4.doc
Section 3093) with respect to the Improvements to be recorded i
Riverside County, California, the Agency shall, following wn
furnish the Developer with a Certificate of Completion for
days of such request. The Certificate of Completion sh
Exhibit K and incorporated herein by this reference.
withhold, condition or delay the issuance of the C
Completion shall be, and shall so state that it is,
completion by the Developer of all of its construc
Improvements.
3.15.2 If the Agency r
written request from the Developer to
provide the Developer with a written stat
furnish a Certificate of Corn
must take to obtain a Ce
refusal is confined to
any other non-stru
Dollars ($10,000), t
depositing with the Ag
other fin tion
work n
mad
with or sa
other secunt
completion as
3.15.3 The
tion of any o
ment. S
'bed i
on. The s
ompleti
ailabili
e n the fo
gency shall no
te of Completion.
elusive det ination of s
bligat der this Agree
3.14 No Agency Created. In performing this Agreement, the Developer is an
independent contractor and not the agent of the Agency or the City. The Agency and the City
are not agents of the Developer. Neither the Agency nor the City shall have any responsibility
whatsoever for payment to any contractor or supplier of the Developer.
3.15 Certificate of Completion.
3.15.1 After (i) completion of construction by the Developer of all of the
Improvements, (ii) the Developer has obtained a Certificate of Occup cy, and (iii) the
Developer has caused a notice of completion (as described in Calif. ivil Code
fficial Records of
est by the Developer,
nts within sixty (60)
ched hereto as
asonably
ertificate of
ctory
nt as to the
(60) days after receipt of a
etion, the Agency shall
ons t ency refused or failed to
the actions the Developer
Impri nts. If the reason for such
specific items or material for landscaping or
mpletion does not exceed Ten Thousand
te of Completion upon the Developer's
dby letter of credit issued by a bank or
le to the in an amount equal to the fair value of the
'ned by the Agency. The determination of fair value shall be
fits reasonable judgment.
fails withi
cate of
ificat Completion shall not constitute evidence of compliance
ation of the Developer to any holder of a mortgage, trust deed or
Certificate of Completion shall not be construed as a notice of
fornia Civil Code Section 3093.
ARTICLE 4
LIMITA IONS ON TRANSFERS AND SECURITY INTERESTS
4.1 Limitation As To Transfer of the Property and Assignment of Agreement.
4.1.1 Prior to issuance of a Certificate of Completion, the Developer shall not
sell, lease, assign, transfer, mortgage (other than as evidenced by the Deed of Trust),
hypothecate, or convey (collectively, a "Transfer") the Property or any part thereof, this
Agreement, or any of the Developer's rights or obligations hereunder, without the Agency's
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P6402-0201 \1309935v4.doc
prior written consent, which consent may be granted or withheld in the Agency's sole and
absolute discretion. The Developer acknowledges that the identity of the Developer is of
particular concern to the Agency, and it is because of the Developer's identity that the Agency
has entered into this Agreement with the Developer. Except for any transferee approved by the
Agency pursuant to this Section 4.1, and except for any lender of record holding any mortgage,
deed of trust or other security interest contemplated or permitted by this Agreement ("Holder")
that has taken possession of the Property, no voluntary or involuntary successor in interest of the
Developer shall acquire any rights or powers under this Agreement. No transfer or assignment
of the Developer's interest hereunder without the Agency's prior writ approval shall be
deemed to release the Developer from the obligations of the Devel ereunder.
4.1.2 After the issuance of a Certificate of C. , the Developer shall sell
or lease the Property to qualified low income households a e AHRLA.
4.2 Rights of Holders. The Agency shall
the Developer concerning any breach or default b
Holder who has previously made a written requ
Any notice of breach or default by the Developer
unless given to such Holder. Such Holder shall have
such default and to add the cost thereo the secured
such breach or default can only be re cured
such Holder may remedy or cure such b
obtaining possession, provided such Hol
foreclosure. Such Holder s
completion of the Impro
Improvements.
4.3 Nom
right of Holders to fore
instrument
pursue
Prop
or e
trust, t
Property s
covenants o
without limitati
The Agency agree
t be pe
ond the
r a copy of any e or demand to
eveloper under this ment to each
the Agenc or special no ereunder.
not be we against any ch Holder
its option to cure or remedy any
d the lien of its security interest. If
by s older upon obtaining possession,
it withi asonable period of time after
on wi igence through a receiver or
inue the construction or
cessar onserve or complete the
olders. T ovisions of this Agreement do not limit the
mortgage, deed of trust, or other security
portion • operty, and the Improvements thereon, or to
ement of any pledge or lien encumbering such portions of the
e sale under any such mortgage, deed of trust or other lien
power of sale contained in any such mortgage or deed of
rs an en- successors and assigns, and such portions of the
mue to be, subject to all of the conditions, restrictions and
nstruments recorded pursuant to this Agreement, including,
ns set forth in the Grant Deed, Deed of Trust and the AHRLA.
e such further documentation regarding the rights of any Holder as
is customary with res to construction or permanent financing, as the case may be, to the
extent that such documentation is reasonably requested by any Holder and is reasonably
approved by the Agency.
ARTICLE 5
USE OF THE PROPERTY
5.1 Use of Property. Developer shall develop the Property and any portion thereof
only for the construction of the Improvements, and the sale and/or lease of the Property and the
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P6402-0201 \1309935v4.doc
Improvements to a Qualified Household for occupancy as their sole and principal residence, and
for no other purposes. Developer covenants and agrees for itself and its successors and assigns,
and every successor in interest to the Property, or any portion thereof, that during construction of
the Improvements and thereafter, Developer and such successors and assigns shall use the
Property exclusively for the purposes herein stated and shall not devote the Property to any uses
which are inconsistent with this Agreement, the AHRLA or applicable City land use
entitlements. Leasing of the Property or the Improvements is expressly prohibited except as
otherwise permitted by the AHRLA.
5.1.1 After the issuance of a Certificate of Comple
make or permit to be made any substantial structural additions o
the Improvements, or permit a use other than as set forth here
of Agency.
5.2 Use and Operation Covenants. From
first sale of the Property to a Qualified Household
use and operate the Property in conformity with
and the affordability covenants contained in the A
5.3 Sale of Property.
5.3.1 Developer Cove
only to Qualified Households and in ace
to Qualified Households on o efore the
5.3.2
the event the Devel
and Parcel B (the"
assistance to the Buy
about the A If D
negotiat
appro
of the Pr
Agency rela
to be an eligib
5.3.3 Inc
to a potentia
verifying
sehol
eveloper shall not
fications to the exterior of
the prior written consent
ective Date an
eveloper hereby coy
edevelop t Plan, the
1 the date of the
s and agrees to
• al Code,
ell and/or lease the Property
. The Property shall be sold
e of Performance.
er. D er shall identify and select the buyers, or in
e as pro s in the AHRLA, such lessees, for Parcel A
eveloper ogram waiting list, and provide technical
fina g and provide education to the Buyers
annot r from its program waiting list, or cannot
tract with its preferred Buyer, the Developer (with the prior
er eligible Buyers from a list maintained by the Agency.
of Bu Prior to the sale of the Property to a Buyer, or the lease
yer, the Developer shall comply with all requirements of the
Buyer's income and obtaining certifications that Buyer continues
wer income.
5.3» tation on Sales Price. Developer shall sell the Property to a Buyer at
a price that does not ex eed an Affordable Housing Cost as defined in the AHRLA.
5.3.5 Agency Buyer Assistance. The Agency may (at is option and in the
exercise of its sole discretion) provide financial assistance to a Buyer in compliance with the
Agency's affordable housing program.
5.4 Maintenance of the Property. From and after the Close of Escrow to the date of
its sale as provided herein, Developer shall reasonably maintain the Property and shall keep the
Property free from any accumulation of debris or waste materials.
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P6402-0201 \1309935v4.doc
5.5 Effect and Duration of Covenants. The covenants of Developer set forth in this
Agreement, shall, without regard to technical classification or designation, be binding on
Developer and any successor in interest to the Property, or any part thereof, for the benefit and in
favor of Agency, its successors and assigns, and the City. Except as otherwise set forth in this
Agreement, the covenants contained in this Agreement shall remain in effect from the Effective
Date to the date of the first sale of the Property to a Qualified Household. The covenants against
discrimination (as described in Section 5.7) shall remain in perpetuity.
5.6 Obligation to Refrain from Discrimination. The Devel er covenants and agrees
for itself and its successors and assigns, and for every successor in • t to the Property, or any
part thereof, and their rights under this Agreement, that there sh o discrimination against
or segregation of any person, or group of persons, on account arital status, age,
handicap, race, color, religion, creed, national origin or anc in t e, lease, sublease,
transfer, use, occupancy, tenure or enjoyment of the Pro , and the per (itself or any
person claiming under or through the Developer) sh establish or pe y such practice
or practices of discrimination or segregation with ce to the selection, n, number,
use or occupancy of tenants, lessees, subtenants, eases, or v ors of the Pr or any
portion thereof. This provision, which is require w, sh be construed as ermitting
the leasing of the Property.
5.7 Form of Nondiscrimina Clauses. All deeds or contracts
for sale shall contain the following non
5.7.1 In de
or her heirs, executors, a
them, that there shall
persons on account
Government Code,
paragraph (1) of subdi
Governme the
herein
thro
with
herein
status, said par
Section 12955.9 o
said paragraph shall • nstrued to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of
the California Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51
and Section 1360 of the California Civil Code and subdivisions (n), (o) and (p) of Section 12955
of the California Government Code shall apply to said paragraph."
ation clauses:
"The gran by d for himself or herself, his
sand a all p claiming under or through
tion aga segregation of, any person or group of
n subdiv (a) or (d) of Section 12955 of the California
efined in ons 12926, 12926.1, subdivision (m) and
Section 12955.2 of the California
sfer, use, ncy, tenure or enjoyment of the premises
tee himself or herself, or any person claiming under or
it any practice or practices of discrimination or segregation
loc number, use or occupancy of vendees in the premises
g coy nts shall run with the land.
the immediately preceding paragraph, with respect to familial
be construed to apply to housing for older persons, as defined in
rnia Government Code. With respect to familial status, nothing in
5.7.2 In contracts: "The contracting party or parties hereby covenant by and for
himself or herself and their respective successors and assigns, that there shall be no
discrimination against or segregation of any person or group of persons, on account of any basis
listed in subdivision (a) or (d) of Section 12955 of the California Government Code, as those
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bases are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of subdivision
(p) of Section 12955, and Section 12955.2 of the California Government Code, in the sale,
transfer, use, occupancy, tenure or enjoyment of the premises, nor shall the contracting party or
parties, any subcontracting party or parties, or their respective assigns or transferees, establish or
permit any such practice or practices of discrimination or segregation.
Notwithstanding the immediately preceding paragraph, with respect to familial
status, said paragraph shall not be construed to apply to housing for older persons, as defined in
Section 12955.9 of the California Government Code. With respect to ilial status, nothing in
said paragraph shall be construed to affect Sections 51.2, 51.3, 51
the California Civil Code, relating to housing for senior citizens
and Section 1360 of the California Civil Code and subdivisio
of the California Government Code shall apply to said para
, 51.11, and 799.5 of
rvision (d) of Section 51
and (p) of Section 12955
The foregoing provisions, which are r d by law, shall e construed to
permit the leasing of the Property or the Improve
ARTI
EVENTS OF DEFAULT, REME
6.1 Developer Events of D
constitute a default ("Default") under t
6.1.1 The Developer's far
Improvements in compli d as re
6.1.2
money, and the co
defaulting party has
paym
non
breac
deemed
(30) day pe
oney
lting party ha
ot reasonably c
fault only ifs
d thereaft
breach
nce of sue
rift
Occurrenc
t:
is Age
each for a
RMINATION
y or all of the following shall
ent;
ete construction of the
t by any party involving the payment of
'od of thirty (30) days after the non -
mg party;
f any term o Agreement by any party not involving the
h party to cure such breach within thirty (30) days after the
notice to the defaulting party; provided, however, if such
uch thirty (30) day period, then such party shall be
arty oes not commence to cure such breach within such thirty
ils to diligently prosecute such breach to completion;
6. T. sfer of the Property, or any part thereof or interest therein, or any
rights or obligation eveloper under this Agreement, in violation of the terms hereof, or
Developer's failure to 1 the Property and Improvements to Qualified Households in
compliance with the AHRLA;
6.1.5 The Developer's failure or refusal to keep in force and effect any permit or
approval with respect to construction of the Improvements, and the Developer's failure to cure
such breach within thirty (30) calendar days after notice from the Agency of the Developer's
breach; provided, however, if such breach is not reasonably curable within such thirty (30) day
period, then the Developer shall be deemed in Default only if the Developer does not commence
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to cure such breach within such thirty (30) day period and thereafter fails to diligently prosecute
such breach to completion;
6.1.6 Filing of a petition in bankruptcy by or against any party or appointment
of a receiver or trustee of any property of any party, or an assignment by any party for the benefit
of creditors, or adjudication that such party is insolvent by a court, and the failure of such party
to cause such petition, appointment, or assignment to be removed or discharged within 90 days.
6.1.7 The Developer's failure to keep and maintain t
Improvements in good condition and repair as required by this Agr
limited to all front and back yard landscaping, connections to uti
electric), and overall maintenance, and the Developer's failur
(30) days after notice from the Agency of Developer's brea
enter onto the property and perform such deferred main n e, and t
promptly reimburse the Agency for all costs incurred e Agency i
maintenance.
6.2 Remedies in the Event of Default.
6.2.1 Remedies Prior t the Close of
party prior to the Close of Escrow, th aulting pa
Agreement provided it is not in breach ion unde
written notice thereof to the defaulting p
defaulting party to cure such I efault as pr
defaulting party any avai ies at la
receive damages or to e an a for sp
6.2.
by any party after the
party any a
reimbur
actio
rec
Section 6.2.
the exercise o
of the Property,
theretofore conveye
necessary to commenc
y, in
performance.
Property and the
t, including but not
natural gas, water,
such breach within thirty
shall have a right to
eloper shall
n pe ing such
In the event of a Default by any
11 have the right to terminate this
Agreement, by delivering
ubject to the rights of the
party may seek against the
but not limited to, the right to
fault Aft Close of Escrow. In the event of a Default
-de ting party may seek against the defaulting
or eq a mg but not limited to the right to receive
d out-of-pocket costs related to this transaction or to pursue and
tin no event shall such non -defaulting party be entitled to
es, as applicable.
emedv for Default by Developer. In addition to the provisions of
efault by Developer as described in Section 6.1, the Agency in
n, may terminate this Agreement and re-enter and take possession
ovements thereon, and revest in the Agency title to the Property
Developer (or its successors in interest), and take any and all actions
and complete the enforcement of its reversionary interest, and in such
event the Developer agrees promptly to take all actions and to execute all documents necessary
to revert title to the Property to the Agency free and clear of all liens and encumbrances created
by or with the consent of Developer.
6.3 Liberal Construction. The rights established in this Agreement are to be
interpreted in light of the fact that the Agency will convey the Property to the Developer for
development of the Improvements thereon and their sale to eligible households of lower income,
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and not for speculation in undeveloped land or for construction of different improvements. The
Developer acknowledges that it is of the essence of this Agreement that the Developer is
obligated to complete all Improvements.
6.4 No Personal Liability. No representative, agent, attorney, consultant, or employee
of the Agency shall personally be liable to the Developer or any successor in interest of the
Developer, in the event of any Default or breach by the Agency, or for any amount which may
become due to the Developer or any successor in interest, on any obligation under the terms of
this Agreement or as otherwise provided in the Deed of Trust or AHR
6.5 Rialits and Remedies are Cumulative. The rights
cumulative, and the exercise by either party of one or more of
preclude the exercise by it, at the same time or different ti an
the same default or any other default by any other party o the occ
default, except as to rights and remedies expressly de to be exclusiv
the injured party shall have all rights and remedie St the defaulting pa
available at law or in equity, or as provided in t ed of Trust AHRLA, to
remedy any event of default, to obtain specific pe ance, ver damages,
other remedy consistent with the purpose of this Agr
6.6 Inaction Not a Waiver
asserting any of its rights and remedies
default or of any such rights or remedies,
maintain any actions or proc ngs which
any such rights or remed• eptanc
other party shall not c r of su
amount due, unless party exec a specr
6.7 Force
Developer
the Sco
how
reas
Majeu
enemy, w
any strike, lo
employees of e
ch nonpe
any of the foil
ay"): (i) civil
• t, sabotage,
t or other
arty
t.
medies of the parties are
ts or remedies shall not
r rights or remedies for
e of an event of
is Agreement,
ay be
correct or
obtain any
Any fai or delays by either party in
ault sha operate as a waiver of any
such of its rights to institute and
ry protect, assert or enforce
y of n the full amount due from the
y's right to demand and receive the full
cord and satisfaction.
mg to the contrary in this Agreement,
r comp provements as required by this Agreement,
chedule of Per ormance shall be a breach hereof; provided,
be excused when performance is prevented or delayed by
for asonably beyond the control of such party (a "Force
rbanc ture order claiming jurisdiction, act of the public
kade, embargo, (ii) any delay or failure to perform attributable to
r or industrial disturbance (whether or not on the part of the
o), or the unusual inability to secure customary materials,
equipment, suppli through ordinary sources, but only to the extent that any such delay
referred to in this cla i) is an actual, industry wide condition affecting substantially all
similar works of construction in the Coachella Valley, California, area; (iii) delay attributable to
the failure of the Developer to secure plan checks, building permits, and other governmental
permits or approvals (including any failure to obtain a temporary certificate of occupancy) within
a reasonable period of time, where such delay is not due to any fault of the Developer; or
(iv) delay attributable to severe weather, lightning, earthquake, fire, storm, hurricane, tornado,
flood, washout, explosion, or any other similar cause (other than the availability of financing)
beyond the reasonable control of the Developer, or any of its contractors or other representatives.
Any prevention, delay or stoppage due to any Force Majeure Delay shall excuse the performance
-21-
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of the Developer for a period of time equal to any such prevention, delay or stoppage (except the
obligations with respect to the payment of money or to close Escrow).
ARTICLE 7
INSURANCE; INDEMNITY.
7.1 Insurance.
7.1.1 Before commencement of any demolition or co
Developer on any portion of the Property, the Developer shall obtai
expense to the Agency, with a reputable and financially responsi
reasonably acceptable to the Agency, commercial broad form
insuring against claims and liability for bodily injury, deat
construction, use, occupancy, condition, or operation of
provide combined single limit protection of at least $
$2,000,000.00 in aggregate. Such insurance polic
insureds.
7.1.2 Before commencement of an
Developer on any portion of the Prope
expense to the Agency, with a reputa
reasonably acceptable to the Agency, a
on a per occurrence basis with a single li
and property damage. Said s e, icy shall in
hired cars.
7.1.3
Developer on any p
completion of such w
and malicio ' hief,
Agency
Deve
con
risk in
furnishe
managers' t
employees.
n connec
ion of Improve
ce shall cover i
the Develop
nancially r
siness au
op
operty,
, 00.00 per oc
name the Released
truction work by the
maintain at no cost or
urance company
ublic liability insurance,
amage arising from the
insurance shall
ce or
s as additional
r construction work by the
obtain and maintain at no cost or
sible insurance company
bile liability insurance written
f $1,000,000 bodily injury
non -owned, leased and
ement demolition or construction work by the
y, the per shall obtain and maintain in force until
surance, including coverage for vandalism
ith a company reasonably acceptable to the
sation insurance covering all persons employed by the
on the Improvements, or any portion thereof. During the
on ortion of the Property by the Developer, such builder's
ovem • in place and all material and equipment at the job site
all exclude contractors', subcontractors', and construction
and property owned by contractors' and subcontractors'
7.1.4 eveloper shall also furnish or cause to be furnished to the Agency
evidence satisfactory to the Agency that any contractor with whom it has contracted for the
performance of work on the Property or otherwise pursuant to this Agreement carries workers'
compensation insurance as required by law.
7.1.5 With respect to each policy of insurance required above, the Developer
shall furnish to the Agency a certificate of insurance countersigned by an authorized agent of the
insurance carrier on the insurance carrier's form setting forth the general provisions of the
insurance coverage. Unless such certificates are provided to the Agency at an earlier date, the
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P6402-0201 \1309935v4.doc
required certificate shall be provided to the Agency prior to commencement of any demolition or
construction work on the Property.
7.1.6 All such policies required by this Section shall be nonassessable and shall
contain language to the effect that (i) the policies cannot be canceled or materially changed
except after thirty (30) days' written notice by the insurer to the Agency, and (ii) the Agency
shall not be liable for any premiums or assessments. All such insurance shall have deductibility
limits that shall be commercially reasonable.
7.2 Indemnity. Except for the gross negligence or willf onduct of the Agency,
the Developer shall indemnify, defend, protect, and hold harmle 'eleased Parties, from and
against all losses, liabilities, claims, damages (including fores unforeseeable
consequential damages), penalties, fines, forfeitures, costs pe including all reasonable
out-of-pocket litigation costs and reasonable attorney's d dem any nature
whatsoever, related directly or indirectly to, or arisin for in connec ith:
7.2.1 the development of the I ments on se Property an use,
ownership, management, occupancy, and possess the Pr
7.2.2 any breach or De ult by the De ereunder, or
7.2.3 any of the Devel *ties on t erty (or the activities of the
Developer's agents, employees, lessees, ese licens uests, invitees, contractors,
subcontractors, or independent contractors s of whether such losses
and liabilities shall accru covered o fte ation or expiration of this
Agreement.
7.2.
Property to the extent
employees,
perf
opera
regardle
after termin
Property.
7.2.
nce hereunder,
r disposition o
whether such
or expirati
azardous Substances on, in or under the
er or Developer's affiliates, agents or
ct, circumstance or event related to the Developer's
arise from the Developer's ownership, use, possession,
Prop nd the construction and sale of the Improvements,
ages, losses or liabilities shall accrue or be discovered before or
f this Agreement, or before or after the conveyance of the
The Develo defend, at its expense, including attorneys' fees, the Released Parties
in any legal action bas upon such alleged acts or omissions. The Agency and the City may in
their discretion participate in the defense of any such legal action.
The Developer's indemnity obligations contained in this Section 7.2 shall survive the
termination or expiration of this Agreement and shall not be deemed merged into the Grant Deed
on recordation.
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P6402-0201 \1309935v4.doc
ARTICLE 8
GENERAL PROVISIONS.
8.1 Notices. All notices and demands shall be given in writing by certified mail,
postage prepaid, and return receipt requested, or by personal delivery. Notices shall be
considered given upon the earlier of (a) personal delivery, or (b) one business day following
deposit or delivery with a nationally recognized overnight courier delivery charges prepaid, or
(c) three (3) business days following after deposit or delivery shown on the return receipt in the
United States mail, postage prepaid, certified or registered, return rece t requested. A copy of
all notices delivered prior to the Close of Escrow shall be sent to E older. Notices shall
be addressed as provided below for the respective party; provid if any party gives notice in
writing of a change of name or address, notices to such party after be given as
demanded in that notice:
8.2
the Agency as
The Agency:
Janet Moore, Dof Housing
Palm Desert elopment Agency
73-510 Fr ring Drive
Palm Dese , 'fornia
Telephone: 7
F 'mile: 760-
with a copy to: Ri r. on
A
355 and S h or
Los A iforrn 1-3101
ttentio lliam L. Strausz
elephon 13-626-8484
acsimile: -626-0078
Ha manity of the Coachella Valley, Inc.
Palm Desert, California 92255
lephone:
simile:
anties. The Developer warrants and represents to the City and
8.2.1 eveloper has full power and authority to execute and enter into this
Agreement and to cons mmate the transactions contemplated hereunder. This Agreement
constitutes the valid and binding agreement of the Developer, enforceable in accordance with its
terms subject to bankruptcy, insolvency of other creditors' rights laws of general application.
Neither the execution nor delivery of this Agreement, nor the consummation of the transactions
covered hereby, nor compliance with the terms and provisions hereof, shall conflict with, or
result in a breach of, the terms, conditions or provisions of, or constitute a default under, any
agreement or instrument to which the Developer is a party.
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P6402-0201 \1309935v4.doc
8.2.2 As of the Close of Escrow, the Developer will have inspected the Property
and will be familiar with all aspects of the Property and its condition, and will accept such
condition.
8.2.3 The Developer has not paid or given, and will not pay or give, to any third
person, any money or other consideration for obtaining this Agreement, other than normal costs
of conducting business and costs of professional services such as architects, engineers and
attorneys.
8.2.4 No commission or fee whatsoever is payable
corporation, partnership or other entity in connection with the tr
Agreement due to the acts of the Developer. The Developer
other person in connection with the transaction contemplat
other commission or fee may be payable.
person, firm,
ons contemplated by this
o broker, agent, finder or
horn a brokerage or
8.3 Interpretation. In this Agreement t er gender includes
masculine, and singular number includes the pl d the won "person" an
corporation, partnership, firm, trust, or associatio re ever •ntext so requi
8.4 Time of the Essence. Ti
8.5 Attorneys' Fees. If any
declare its rights hereunder, the prevailin
reasonable attorneys' fees to be paid by th
the Developer, without fa
party, such other party
including reasonabl
e is of the ess this Agreement.
8.6 Appro th
provided her •• herev
contract , p
not u ably be eld,
attachm
parties. Th
hereto, and su
to the subject ma
party hereto, or by o
Entire Aar
d exhibits he
eement int
es all
er
e a part
gainst
urred i
minine and
y" include
an actio force the terms hereof or
uch ac all be entitled to its
e court. If the Agency, or
gati tuted by or against the other
ye it harmless from all costs and expenses
ection with such litigation.
o er. Unless otherwise specifically
eem e Agency or the Developer to approve any
al, specification, drawing or other matter, such approval shall
tioned or delayed.
rs and Amendments. This Agreement, together with all
, constitutes the entire understanding and agreement of the
tes all of the terms and conditions mentioned herein or incidental
rations or previous agreements between the parties with respect
o subsequent agreement, representation or promise made by either
employee, officer, agent or representative of either party, shall be of
any effect unless it is 1 writing and executed by the party to be bound thereby. No person is
authorized to make, and by execution hereof the Developer and the Agency acknowledge that no
person has made, any representation, warranty, guaranty or promise except as set forth herein;
and no agreement, statement, representation or promise made by any such person which is not
contained herein shall be valid or binding on the Developer or the Agency.
8.8 Counterparts. This Agreement may be executed simultaneously in one or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.
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P6402-0201 \1309935v4.doc
8.9 Severabilitv. Each and every provision of this Agreement is, and shall be
construed to be, a separate and independent covenant and agreement. If any term or provision of
this Agreement or the application thereof shall to any extent be held to be invalid or
unenforceable, the remainder of this Agreement, or the application of such term or provision to
circumstances other than those to which it is invalid or unenforceable, shall not be affected
hereby, and each term and provision of this Agreement shall be valid and shall be enforced to the
extent permitted by law.
8.10 Survival. The provisions hereof shall not terminate bu .ther shall survive any
conveyance hereunder and the delivery of all consideration.
8.11 No Third Party Beneficiaries other than the Ci
party beneficiary of this Agreement. This Agreement is m
protection and benefit of, and shall be binding upon, the
successors and assigns. No other person shall have a
of this Agreement.
8.12 Governing Law: Jurisdiction: Se
Agreement and the rights of the Parties. The Parties
California Superior Court for the Coun
Developer against the Agency, or by
Agency shall be made by personal servi
or in such other manner as may be provi
Agency against the Develo
service on the President
The Developer agrees
of process in the St
Secretary of State o
authority to receive su
shall survi
ervice of p
oper, o
f the A
he ma
rnia is de
and be 1
of Riverside.
ainst the
xecutiv
leg
de
s, the Ci
t of action ba
ity shall be a named third
into for the sole
their respective
on any provision
Proce lifornia law s govern this
e exclusive jurisdiction of the
egal action is commenced by the
per, service of process on the
ctor or secretary of the Agency
a in is commenced by
e all be made by personal
ther as may be provided by law.
y, that it shall designate an agent for service
rescribed by law, and if it fails to do so, the
ted as agent for the Developer, with full
if, which designation and authorization
e.
P6402-0201 \1309935v4.doc
-26-
IN WITNESS WHEREOF, the parties hereto have entered into this agreement as of the
day and year first above written.
"Developer"
"Agency"
ATTEST:
Secretary
APPR
Ric
A Pro
By:
HABITAT FOR HUMANITY OF THE
COACHELLA VALLEY, INC., a California non-
profit public benefit corporation
By:
Name:
Title: President
By:
Name:
Title: Sec
PAi IESERT EVELOPME GENCY,
a publ ate and politic
P6402-0201 \1309935v4.doc
-27-
LIST OF EXHIBITS
Exhibit A Legal Description
Exhibit B Schedule of Performance
Exhibit C Form of Right of Entry Agreement
Exhibit D Scope of Development
Exhibit E Form of Grant Deed
Exhibit F Form of Affordable Housing Restriction and ent
Exhibit G Form of Deed of Trust, Assignment of and Secunt'cement
Exhibit H Form of Promissory Note Secured ed of Trust
Exhibit I Form of Notice of Affordability Re sfer of Propert
Exhibit .1 Property Documents
Exhibit K Certificate of Completio
P6402-0201 \1309935v4.doc
EXHIBIT A
LEGAL DESCRIPTION
PARCEL A
LOT 98 OF PALMA VILLAGE UNIT NO. 7, IN THE CITY OF PALM DESERT, COUNTY
OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 21 OF MAPS,
PAGES 16 THROUGH 18, IN THE OFFICIAL RECORDS OF SAID COUNTY, LOCATED
WITHIN THE SOUTH HALF OF THE NORTHWEST QUARTE ECTION 20,
TOWNSHIP 5 SOUTH, RANGE 6 EAST, S.B.M.
EXCEPTING THEREFROM THE SOUTHERLY 27.00 F
APN: 627-092-006
PARCEL B
A PORTION OF LOT 99 OF PALM LAGE UNI
DESERT, COUNTY OF RIVERSIDE, S F CALI
MAPS, PAGES 16 THROUGH 18, IN
RECORDER OF SAID COUNTY, MOR
BEGINNING AT THE TERL
THENCE SOUTH
DISTANCE OF 93,
CERTAIN GRANT
11, 2008
THENC
PARALLE
OF SAID LO
NORTHEASTER
SAID POINT BEAR
NORTHERLY PROPE
IN THE CITY OF PALM
IA, FILED IN BOOK 21 OF
OF THE COUNTY
RIBED AS FOLLOWS:
EASTERLY LINE OF SAID LOT 99, A
CORNER OF PARCEL "A" PER THAT
DESERT RECORDED SEPTEMBER
FFICIAL RECORDS OF SAID COUNTY;
ALONG THE NORTHERLY LINE OF SAID
. 2008-0499627, A DISTANCE OF 116.22 FEET;
RTHERLY LINE NORTH 38°17'00" EAST ALONG A LINE
FEET SOUTHEASTERLY FROM THE WESTERLY LINE
CE OF 133.36 FEET TO A POINT ON A CURVE CONCAVE
G A RADIUS OF 100.00 FEET, A RADIAL BEARING FROM
RTH 27°24'00" EAST, SAID CURVE ALSO BEING THE
TY LINE OF SAID LOT 99;
THENCE EASTERLY ALONG SAID CURVE AND NORTHERLY PROPERTY LINE OF
LOT 99, THROUGH A CENTRAL ANGLE OF 23°43'00" FOR AN ARC DISTANCE OF
41.39 FEET TO THE POINT OF BEGINNING,
APN: 627-092-050
A-1
P6402-0201 \1309935v4.doc
EXHIBIT B
SCHEDULE OF PERFORMANCE
1. Agency's Publication of Notice of Public Hearing
2. Approval of the Agreement by Agency Board
3. Opening of Escrow
4. Execution of the Agreement by the Developer, and
tender to the Agency
5. To the extent required, Developer shall prepare
submit Plans and Specifications and related
6. Before commencement of the constructio
Improvements on the Property, Developer s t its
own expense, secure or cause to be secured an
permits that may be required
February , 2011
February , 2011
30 days from Agency Board
A al.
days from Agency Board
val
30 da Agency Board
ents Approva
7. Developer's approval or disappro
8. Developer's appr
condition oft
9. Close of Escr
10.
11.
12. Tran
royal
sical
struction of Improvements
of Improvements
led Households
80 days from
Approval
cy Board
5 days from the date of
ipt
15 days from full execution of
the Agreement by parties
60 days from opening of
Escrow
180 days from Closing
365 days from
Commencement Date
No later than 540 days after
the issuance of the Certificate
of Occupancy
NOTE: Schedule may e amended with written approval of the Agency's Executive Director,
which approval may be given or withheld in the sole and absolute discretion of the Executive
Director.
B-1
P6402-020111309935v4.doc
purpose
Grante
coven
receipt an
covenant an
EXHIBIT C
FORM OF RIGHT OF ENTRY AND ACCESS AGREEMENT
RIGHT OF ENTRY AND ACCESS AGREEMENT
THIS RIGHT OF ENTRY AND ACCESS AGREEMENT (herein called this
"Agreement") is made and entered into as of , 2011 (the "Effective Date"), by
PALM DESERT REDEVELOPMENT AGENCY, a public body, corp rate and politic (herein
called "Grantor"), and HABITAT FOR HUMANITY OF THE CO LLA VALLEY, INC.,
a California non-profit public benefit corporation (herein called"e").
WITNESSETH.
WHEREAS, Grantor is the owner of the real p more parti described on
Exhibit A. attached hereto and incorporated herein erence (herein cal "Property");
WHEREAS, Grantor and Grantee have e d into a D sition and D ment
Agreement related to the Property (the "DDA");
WHEREAS, Grantee has requ e right of e son and access to the Property for
the purpose of undertaking tests, insp other due ence activities (herein called the
"Due Diligence Activities") in connecti • 1 osed • ition by Grantee of the
Property under the DDA;
WHEREAS, G
from Grantor, a non -
Diligence Activiti
ive, rev
ccordance
WHEREAS, Gr
h th
Pro
W, THEREF
d agreements
iciency of w
e as folio
ed to
le licen
the term
rantee, a rantee has agreed to accept
enter upon the Property to perform the Due
d provisions of this Agreement;
ecute and enter into this Agreement for the
ement wit ct to the Due Diligence Activities and
for a consideration of the foregoing premises, the mutual
ained ein, and other good and valuable consideration, the
are hereby acknowledged, Grantor and Grantee do hereby
1. A antee.
(a) ubject to Grantee's compliance with the terms and provisions of this
Agreement, until the earlier to occur of (i) the expiration of the Due Diligence Period (as defined
in the DDA), or (ii) the earlier termination of this Agreement, Grantee and Grantee's agents,
employees, contractors, representatives and other designees (herein collectively called
"Grantee's Designees") shall have the right to enter upon the Property for the purpose of
conducting the Due Diligence Activities.
C-1
P6402-0201 \1309935v4.doc
(b) Grantee expressly agrees as follows: (i) any activities by or on behalf of
Grantee, including, without limitation, the entry by Grantee or Grantee's Designees onto the
Property in connection with the Due Diligence Activities shall not damage the Property in any
manner whatsoever or disturb or interfere with the rights or possession of any tenant or subtenant
on the Property, (ii) in the event the Property is altered or disturbed in any manner in connection
with the Due Diligence Activities, Grantee shall immediately return the Property to the condition
existing prior to the Due Diligence Activities, and (iii) Grantee, to the maximum extent allowed
by law, shall indemnify, defend and hold Grantor harmless from and against any and all claims,
liabilities, damages, losses, costs and expenses of any kind or nature tsoever (including,
without limitation, attorneys' fees and expenses and court costs) s d, incurred or sustained
by Grantor as a result of, by reason of, or in connection with the P iligence Activities or the
entry by Grantee or Grantee's Designees onto the Property. i ding any provision of
this Agreement to the contrary, Grantee shall not have the o un e any invasive
activities or tests upon the Property, or any environme sting on the erty beyond the
scope of a standard "Phase I" investigation, without or written conse Grantor of a
workplan for such "Phase II" or invasive testing, may be granted, deni conditioned in
Seller's sole and absolute discretion. If Granto not respo r reject any an within
n w
five (5) business days of Grantee's delivery of the
to the notice provisions of this Agreement, then Gran
the submitted workplan and Grantee t proceed w
2. Lien Waivers. Grantee
completion of the Due Diligence Activiti
engineer, architect and sury
satisfactory to Grantor
hereby indemnifies
lien claims made a
3.
Grantee's
comme
coy
agg
copy o
that such i
additional ins
be maintained
Insuranc
erfo
ene
ach of the
of not less tha
' ional insured
ce is in for
thereund
e th
i
ho migh
1. Tot
gainst
Propert
proposal to Gr tor pursuant
deemed to have not approved
ch testing.
en waivers following
actor, materialman,
and substance reasonably
permitt y applicable law, Grantee
laims or demands for payment, or any liens or
a result of the Due Diligence Activities.
erty, Grantee shall, and shall cause all of
e Due Di Activities to, procure or maintain a policy of
nce issued by an insurer reasonably satisfactory to Grantor
ctivities with a single limit of liability (per occurrence and
0, and to deliver to Grantor a certificate of insurance and
rseme naming Seller as named additional insured, evidencing
d effect, and evidencing that Grantor has been named as an
th respect to the Due Diligence Activities. Such insurance shall
out the term of this Agreement.
4. Succe . To the extent any rights or obligations under this Agreement remain
in effect, this Agreement shall be binding upon and enforceable against, and shall inure to the
benefit of, the parties hereto and their respective heirs, legal representatives, successors and
permitted assigns.
5. Limitations. Grantor does not hereby convey to Grantee any right, title or interest
in or to the Property, but merely grants the specific rights and privileges hereinabove set forth.
C-2
P6402-0201 \1309935v4.doc
6. Notices. Whenever any notice, demand, or request is required or permitted under
this Agreement, such notice, demand, or request shall be in writing and shall be delivered by
hand, be sent by registered or certified mail, postage prepaid, return receipt requested, or shall be
sent by nationally recognized commercial courier for next business day delivery, to the addresses
set forth below the respective executions of the parties hereof, or to such other addresses as are
specified by written notice given in accordance herewith, or shall be transmitted by facsimile to
the number for each party set forth below their respective executions hereof, or to such other
numbers as are specified by written notice given in accordance herewith. All notices, demands,
or requests delivered by hand shall be deemed given upon the date so ivered; those given by
mailing as hereinabove provided shall be deemed given on the dat posit in the United
States Mail; those given by commercial courier as hereinabove ed shall be deemed given
on the date of deposit with the commercial courier; and those acsimile shall be deemed
given on the date of facsimile transmittal. Nonetheless, the pen any, in which a
response to any notice, demand, or request must be giv 1 commen run from the date of
receipt of the notice, demand, or request by the addr ereof. Any no s emand, or
request not received because of changed address e imile number of whic otice was
given as hereinabove provided or because of re accept d ery shall be d received
by the party to whom addressed on the date of han very e date of facsimi transmittal,
on the first calendar day after deposit with commerci or on the third calendar day
following deposit in the United States as the case e.
7. Assienment. This Agree
8. Governing L. his Agre
accordance with the law of Cali
be assi • y Grantee.
, enforced and interpreted in
9. Te on. This ement c terminated by Grantor at any time and for
any reason, or no re notice fro antor to Grantee.
1 O. Agree e executed in several counterparts, each of
which s and all of sue counterparts together shall constitute one and
the s
this Agre
County, Ca
of this Agreem
f A r ent or Memorandum of Aereement. In no event shall
dum hereof be recorded in the Official Records of Riverside
recordation or attempted recordation shall constitute a breach
esponsible for such recordation or attempted recordation.
P6402-0201 \1309935v4.doc
C-3
IN WITNESS WHEREOF, Grantor and Grantee have caused this Agreement to be
executed and sealed, on the day and year first written above.
GRANTOR:
ATTEST:
Address for notices:
PALM DESERT REDEVELOPMENT AGENCY,
a public body, corporate and politic
By:
Name:
Title:
Janet Moore, Director of
Palm Desert Redevelopm
73-510 Fred Waring Drive
Palm Desert, California 92260
Telephone: 76P 1611
Facsimile: 760-
with a copy to: Richards, Watson
AP al Corp
3 001"
71-3101
g
ency
C-4
P6402-0201 \1309935v4.doc
GRANTEE:
HABITAT FOR HUMANITY OF THE
COACHELLA VALLEY, INC., a California non-
profit public benefit corporation
By:
Name:
Title:
By:
Name:
Title:
Address for notices: Habitat for Humanity of the Co a Valley, Inc.
Palm Desert, California 9
Attention:
Telephone:
Facsimile:
With a copy to:
At
P6402-0201 \1309935v4.doc
C-5
EXHIBIT A
LEGAL DESCRIPTION OF THE PROPERTY
PARCEL A
LOT 98 OF PALMA VILLAGE UNIT NO. 7, IN THE CITY OF PALM DESERT, COUNTY
OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 21 OF MAPS,
PAGES 16 THROUGH 18, IN THE OFFICIAL RECORDS OF SAID COUNTY, LOCATED
WITHIN THE SOUTH HALF OF THE NORTHWEST QUARTE ECTION 20,
TOWNSHIP 5 SOUTH, RANGE 6 EAST, S.B.M.
EXCEPTING THEREFROM THE SOUTHERLY 27.00 F
APN: 627-092-006
PARCEL B
A PORTION OF LOT 99 OF PALM LAGE UNI
DESERT, COUNTY OF RIVERSIDE, S F CALI
MAPS, PAGES 16 THROUGH 18, IN THE
RECORDER OF SAID COUNTY, MOR
BEGINNING AT THE TERL
THENCE SOUTH
DISTANCE OF 93,
CERTAIN GRANT
11, 2008
THENC
PARALLE
OF SAID LO
NORTHEASTER
SAID POINT BEAR
IN THE CITY OF PALM
IA, FILED IN BOOK 21 OF
OF THE COUNTY
RIBED AS FOLLOWS:
LONG EASTERLY LINE OF SAID LOT 99, A
ORTHE 1 CORNER OF PARCEL "A" PER THAT
DESERT RECORDED SEPTEMBER
FFICIAL RECORDS OF SAID COUNTY;
ALONG THE NORTHERLY LINE OF SAID
. 2008-0499627, A DISTANCE OF 116.22 FEET;
RTHERLY LINE NORTH 38°17'00" EAST ALONG A LINE
FEET SOUTHEASTERLY FROM THE WESTERLY LINE
CE OF 133.36 FEET TO A POINT ON A CURVE CONCAVE
G A RADIUS OF 100.00 FEET, A RADIAL BEARING FROM
RTH 27°24'00" EAST, SAID CURVE ALSO BEING THE
NORTHERLY PROPERTY LINE OF SAID LOT 99;
THENCE EASTERLY ALONG SAID CURVE AND NORTHERLY PROPERTY LINE OF
LOT 99, THROUGH A CENTRAL ANGLE OF 23°43'00" FOR AN ARC DISTANCE OF
41.39 FEET TO THE POINT OF BEGINNING,
APN: 627-092-050
C-6
P6402-0201 \ 1309935 v4.doc
EXHIBIT D
SCOPE OF DEVELOPMENT
A. Development of two single-family residences of approximately 1,280 square feet with
three or four bedrooms, two baths, and two -car attached garage meeting the requirements and
submitting proper documentation to obtain [LEED for Homes Platinum certification]. City of
Palm Desert Sustainability Coordinator shall review complete design plans, and all specifications
prior to permitting, and build -out should change orders occur. Develo
Palm Desert to offer community educational demonstration tours t
period not less than 60 days, prior to turning the residence over t
The homes should portray energy conserving, aesthetically pl
architectural and landscape designs to offer suggestions an
touring the spaces after completion. Interior finish mate
and/or recycled content to the maximum extent possi
Materials should be available from local businesse
B. Developer shall endeavor to install in AD
standards set forth in the 2008 edition of the Califo
California Green Building Standards C:e as many of
411
that meet or exceed those described b
Platinum homes:
1) Architectura
a.
esign
all conta
serve as a com
in the Coachella Va
der to con
r must allow the City of
both homes for a
see or new homeowner.
w-maintenance
unity residents
tamable features
ty exhibit.
imum energy ciency
ode Title 24 and the 2010
owing energy efficiency features
two net -zero residences/LEED
sign fo y conserva ion shall incorporate structural
hitectur ojections a minimum of 18" in depth for
tern, sou and western facing glazing. Must meet
ID
nstruction of 4 walls with a minimum R-13 insulation
en studs and R-5 rigid insulation provided at exterior walls or
ls with a minimum R-19 insulation
11 glazing shall consist of the following:
Thermal break design window and/or door frames.
U factor of .35 or less (NFRC certified label)
3. SHGC value of 0.30 or less (NFRC certified label)
4. Provide natural lighting in all interior spaces through
typical glazing, skylights or sola-tubes.
c) All roof surfaces, except integrated solar roofing systems, shall
have a Cool Roof rating as follows:
P6402-0201 \1309935v4.doc
D-1
1. Solar reflectance greater than or equal to .70
2. Thermal emittance greater than or equal to .75
b. Renewable Flooring Products
a) Consider when choosing flooring products environmentally
friendly flooring made from renewable sources, including natural
linoleum, wool carpeting, renewable wo ds such as bamboo, cork,
eucalyptus and polished concrete floo
2) HVAC Equipment
a. Minimum standards:
a) Fuel type: All heatin e by natural gas.
b) Furnace efficienc e a minim FUE rating
c) SEER: 16 minimum
d) EER: 13
e) Duct insula
tilation) a
surface
shall be
s in the 20
lances.
wing Energy Star rated appliances (In the event this
ed by developer.):
shwashers (not using more than 5.8 gallons of water per cycle)
efrigerators
Clothes Washers
d) Natural Gas Clothes Dryers
e) Ceiling fans
0 Exhaust fans
4) Water Heater
r provide a sealed (no attic
-38 insulation at all exterior
sure tested for leakage conforming to current
dition of the California Energy Code Title
D-2
P6402-0201 \ 1309935v4.doc
a. Water Heater installation options may include either of the following:
a) Install Energy Star qualified natural gas tankless water heater(s) as
necessary with a minimum energy factor of .82. Determine hot
water needs necessary for the size of house and family to ensure
hot water needs are continuously met. More than one system may
be required.
b) Install Solar water heater with electric b k-up with an energy
factor of .93 or greater, 30 gallons mi
5) Lighting
a. All lighting throughout the reside erior a erior, shall be LED
controlled by a manual - on, au c - off occup ensor. All lighting
must be certified by the Cali nergy Commissi ee website
http://www.energy.ca.gov ances/) Ou door landsca ting shall be
restricted to the minimum t possib limited to so xtures
only.
6) Site
a. Permeable pavers ay approach
b. Li eas to no total landscaped area with the
r native la or dro t tolerant plant and tree species
codes t gh the City of Palm Desert and CVWD. Turf
n the rear d only. Drought tolerant design must
and les and/or boulders integrated with low-
e visual interest.
er underlayment may be used below drought tolerant areas
owth of grass or weeds.
rd wa to the adjacent material proposed for Alessandro Alley
aterial that compliments the color and texture of the alley wall.
n- drip and smart controller
Smart Controller required
b) Drip irrigation, bubblers, or drip emitters may be used in desert
landscape design; new generation turf sprays must be used in turf
design with turf located a minimum distance of 24" away from any
hard surfaces or walls.
f. Outdoor patio spaces and walkways should incorporate permeable pavers
as the finished ground cover.
D-3
P6402-0201 \1309935v4.doc
7) Recycled Content / Recycling
a. Obtain the maximum of 8 credits under the LEED for Homes rating
system in Materials and Resources Credits 2.2
b. Provide separate containers for recycling built into the kitchen cabinets for
proper separation of recyclables and trash.
8) Construction and Demolition Recycling Guidelines
a. Contractor and Developer shall comply wi of Palm Desert
Guidelines and Plan for recycling of 10 waste and 75% other. See
Attachment A for details.
9) Low Flow Fixtures
a. Showerheads 2 gpm @ 80 psi
b. Lavatory Faucets @ 60 psi, but it less than
@ 20 psi
c. Kitchen Faucets @ 60 psi
d. Gravity Tank Type ns / flush
10) Gray W
a ay water be colle i and treated from clothes washer, showers,
xcept for t itchen to supply landscaping irrigation.
ith the 2010 California Plumbing Code,
Potable y be used in conjunction with this system,
enough waste water be produced and to ensure landscaping
d residents be away from home for a period of time.
e a solar system, taking into account all of the equipment and
pgrades to maintain a net -zero balance of electrical use for a
fa e photovoltaic panels shall be designed as a finished roof product
and n d ed onto the top of another finished roofing material.
D-4
P6402-0201 \ 1309935 v4.doc
EXHIBIT E
FORM OF GRANT DEED
Recording Requested By, and
When Recorded return to and Mail To:
Palm Desert Redevelopment Agency
73-510 Fred Waring Drive
Palm Desert, California 92260
Attn: Housing Division
APN: 627-092-006 and 627-092-050
(Exempt from Recording F
The undersigned grantor(s) declare(s).
Documentary transfer tax is: County
computed on full value of property
computed on full value less value of
unincorporated area; of Pal
[
[
[
FOR A VAL
PALM DESERT
("Grantor") hereby
OF THE COACHELL
("Grante '
this re
Cal'
Area No.
Development
dated February
the Agreement is a
Waring Drive, Palm
(Space ab or Recorder's use.)
r Govt Code §6103.)
ning at time of sale,
receipt of which is hereby acknowledged, the
public body, corporate and politic,
ISES to HABITAT FOR HUMANITY
a non-profit, public benefit corporation
cribed in Ex A attached hereto and incorporated herein by
ted in the City of Palm Desert, County of Riverside, State of
of the roperty is subject to the Redevelopment Plan for Project
edevelopment Agency and the provisions of a Disposition and
Agreement") entered into by and between Grantor and Grantee
terms of which are incorporated herein by reference. A copy of
or public inspection at the offices of the Grantor, 73-510 Fred
ert, California 92260. The Property is conveyed further subject to all
easements, rights of way, covenants, conditions, restrictions, reservations and all other matters of
record.
2. The Property is conveyed subject to the condition that the Grantee covenants by
and for itself, its successors and assigns and every successor in interest to the Property or any
part thereof, that the Grantee and such successors and assigns shall use the Property, and every
part thereof, only for the construction of certain improvements thereon as described in the
Agreement and as permitted by the Redevelopment Plan for Project Area No. 1, as adopted by
E-1
P6402-0201 \1309935v4.doc
the City of Palm Desert by its Ordinance No. 724 of the City of Palm Desert adopted July 16,
1975. The Grantee further covenants and agrees for itself, and its successors and its assigns, that
the Property and the improvements constructed thereon shall be conveyed only to "Qualified
Households" as defined in that certain Affordable Housing Restriction and Lien Agreement
entered into by and between Grantor and Grantee dated
are incorporated herein by this reference.
3. By acceptance hereof, Grantee covenants, for himself or herself, his or her
successors and assigns, and all persons claiming under or through the that there shall be no
discrimination against or segregation of, any person or group of pe
listed in subdivision (a) or (d) of Section 12955 of the Californi
bases are defined in Sections 12926, 12926.1, subdivision (m
, 2011, the terms of which
n account of any basis
rnment Code, as those
aph (1) of subdivision
(p) of Section 12955, and Section 12955.2 of the California e ode, in the sale,
transfer, use, occupancy, tenure or enjoyment of the pre s erein co d, nor shall the
Grantee himself or herself, or any person claiming u through him o establish or
permit any practice or practices of discrimination egation with referen the use or
occupancy of the premises herein conveyed. T egoing sha e a covenant g with the
land for the benefit of, and as a burden upon the p des herein.
Notwithstanding the immediate
said paragraph shall not be construed
12955.9 of the California Government
paragraph shall be construed to affect Se
California Civil Code, relat
Section 1360 of the Cali
the California Gove
4. Asp
Grantor shall have the
conveyed,
to Gr
Gr
shall run
Grantor, or t
and assigns, wi
therein to which s
Grant Deed, Grantor
equity.
All covenan
he land and s
*ty of Pal
rega
housing
Code an
apply t
receding par
housing
spect to
51
isions
paragraph.
with respect to familial status,
er persons, as defined in Section
'hal status, nothing in said
, 51.11, and 799.5 of the
ision (d) of Section 51 and
and (p) of Section 12955 of
6.2.3 of th cement, in the event of a default the
take possession of the Property hereby
thereon, vest in Grantor the Property hereby conveyed
crest), and in such event title to the Property shall revert to
action on the party of Grantee.
n this Grant Deed, or incorporated herein by reference,
be binding for the benefit of, and shall be enforceable by,
ert (as a third party beneficiary) and their respective successors
hether the Grantor is or remains an owner of any land or interest
nts relate. In the event of a breach of any covenant contained in this
have the right to exercise any right or remedy available at law or in
P6402-0201 \1309935v4.doc
E-2
IN WITNESS WHEREOF, the undersigned has executed this Grant Deed as of the date
set forth below.
Dated:
ATTEST:
Rachelle Klassen, Secretary
State of California )
) SS.
County of Riverside )
On
appeared
to be the person(s) w
to me that he/she/t
his/her/their signatur
person(s) acted, execut
the
PALM DESERT REDEVELOPMENT AGENCY,
a public body, corporate and politic
By:
Jean Benson, C• an
11 before , a Notary Public, personally
, wh to me o basis of satisfactory evidence
e subsc d to the within instrument and acknowledged
e in his their authorized capacity(ies), and that by
t the pe (s), or the entity upon behalf of which the
OF PERJURY under the laws of the State of California that
rrect.
offic seal.(Seal)
P6402-0201 \1309935v4.doc
E-3
EXHIBIT A
LEGAL DESCRIPTION OF THE PROPERTY
PARCEL A
LOT 98 OF PALMA VILLAGE UNIT NO. 7, IN THE CITY OF PALM DESERT, COUNTY
OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 21 OF MAPS,
PAGES 16 THROUGH 18, IN THE OFFICIAL RECORDS OF SAID COUNTY, LOCATED
WITHIN THE SOUTH HALF OF THE NORTHWEST QUARTE ECTION 20,
TOWNSHIP 5 SOUTH, RANGE 6 EAST, S.B.M.
EXCEPTING THEREFROM THE SOUTHERLY 27.00 F
APN: 627-092-006
PARCEL B
A PORTION OF LOT 99 OF PALM LAGE UNI
DESERT, COUNTY OF RIVERSIDE, S F CALI
MAPS, PAGES 16 THROUGH 18, IN S THE
RECORDER OF SAID COUNTY, MOR
BEGINNING AT THE TERL
THENCE SOUTH
DISTANCE OF 93,
CERTAIN GRANT
11, 2008
THENC
PARALLE
OF SAID LO
NORTHEASTER
SAID POINT BEAR
IN THE CITY OF PALM
IA, FILED IN BOOK 21 OF
OF THE COUNTY
RIBED AS FOLLOWS:
LONG EASTERLY LINE OF SAID LOT 99, A
ORTHE 1 CORNER OF PARCEL "A" PER THAT
DESERT RECORDED SEPTEMBER
FFICIAL RECORDS OF SAID COUNTY;
ALONG THE NORTHERLY LINE OF SAID
. 2008-0499627, A DISTANCE OF 116.22 FEET;
RTHERLY LINE NORTH 38°17'00" EAST ALONG A LINE
FEET SOUTHEASTERLY FROM THE WESTERLY LINE
CE OF 133.36 FEET TO A POINT ON A CURVE CONCAVE
G A RADIUS OF 100.00 FEET, A RADIAL BEARING FROM
RTH 27°24'00" EAST, SAID CURVE ALSO BEING THE
NORTHERLY PROPERTY LINE OF SAID LOT 99;
THENCE EASTERLY ALONG SAID CURVE AND NORTHERLY PROPERTY LINE OF
LOT 99, THROUGH A CENTRAL ANGLE OF 23°43'00" FOR AN ARC DISTANCE OF
41.39 FEET TO THE POINT OF BEGINNING,
APN: 627-092-050
E-4
P6402-0201 \1309935v4.doc
EXHIBIT F
FORM OF AFFORDABLE HOUSING RESTRICTION AND LIEN AGREEMENT
RECORDING REQUESTED BY
AND WHEN RECORDED RETURN TO:
Palm Desert Redevelopment Agency
73-510 Fred Waring Drive
Palm Desert, California 92260
Attention: Housing Division
EXEMPT FROM RECORDING FEES PURSUANT TO G
AFFORDABLE HOUSING RESTRICT!' D LIEN A MENT
THIS AFFORDABLE HOUSING REST ON AND LIEN AGR NT (the
"Restrictive Agreement") including DECLARA S OF CS TIONS, CO NTS
AND RESTRICTIONS dated as of the day of F
and between the PALM DESERT RED VELOPME
politic (the "Agency"), and HABITA UMANIT
California nonprofit corporation (the"
A. The Ow
the City of Palm De
Redevelopment A
and incorporated her
Developm
Owner has a
and the Agency
collectively referre
ntly he
erside,
No. 1, le
ite").
the "Effective Da e"), is by
CY, a public body, corporate and
COACHELLA VALLEY, INC., a
cquiring t certain real property located in
of California within the Palm Desert
described in Exhibit "A" attached hereto
Ageemen effectuate the disposition of the Site to
the Site, and its sale to a Qualified Household (as defined
the 0 ner are parties to that certain Disposition and
February , 2011 (the "DDA"). Pursuant to the DDA, the
single-family residential dwelling unit on the Site (the "Unit"),
onvey the Site to the Owner. The Site and Unit are herein
"Property".
D. Pursuant to the DDA, the Owner at the time construction of the Unit is completed,
is required to sell the Property to a Qualified Household who as "Owner" shall be subject to the
terms and provisions of a new Affordable Housing Restriction and Lien Agreement as herein
provided.
E. Concurrently herewith, the Owner is executing a promissory note secured by deed
of trust (the "Note"), which Note is made and delivered to Agency in consideration of the
Agency's transfer of title to the Site to Owner, in the sum of Twenty Thousand Dollars ($20,000)
F-1
P6402-0201\1309935v4.doc
(the "Loan") to be secured by a Deed of Trust, Assignments of Rents and Security Agreement of
even date herewith (the "Deed of Trust") to be recorded against the Property in the official
records of the County Recorder of Riverside County (the "County Recorder").
F. To further the interests of the Agency, and as required by the DDA, Owner has
agreed to enter into and record this Restrictive Agreement, the purpose of which is to regulate
and provide certain restrictions with regard to occupancy, resale, and ownership of the Property.
NOW, THEREFORE, the parties agree as follows:
AGREEMENT
1. Fundamental Provisions. The following sha basic terms of this
Restrictive Agreement:
(a) The name of the Owner is H or Humanity of lla Valley, Inc.
(b) The Property is known as and legally d
attached in Exhibit "A".
ed as
(c) References her tatutes or re ons shall be to such statutes or
regulations as amended from time to ti any succe tatutes and regulations.
2. Residential Dwelling. The
particularly described in t
3. Term
upon the date of re
continue until the da
"Term"). Upon expirat
instrume
Coven
con
the
Housin
as the Age
discretion) at
five (45) years
this Restrictive
trictive
tion hereof
n whi
e in
the Term o
y shall at the t
*ction and Li
Executive
to the
he
A
nit on the Site as more
eement. is Restrictive Agreement shall commence
he offici cords of the County Recorder and shall
erty i t sold to a Qualified Household (the
gency shall promptly execute and record an
the Agenc evidencing the termination of this Restrictive
tried that the Term is the longest period feasible for
e Agreement. The first Qualified Household to purchase
f the ng of such purchase enter into a new Affordable
greem nt in the form of Exhibit F-1 (with such changes thereto
tor may approve in the exercise of his sole and absolute
(the "Purchaser's Restrictive Agreement") with a term of forty-
f such purchase. The repayment of the Loan shall not terminate
4. Definitions. For purposes of this Restrictive Agreement, the terms listed below
shall have the meanings thereinafter specified.
(a) Agency's Executive Director means the Executive Director of the Agency
or a designee as he or she may so designate from time to time.
(b) AMI means the median family income of the Riverside -San Bernardino
Statistical Area (SMSA), as determined and published annually by the United States Department
F-2
P6402-0201 \1309935v4.doc
of Housing and Urban Development ("HUD"), pursuant to California Health and Safety Code
Section 50093, and the regulations promulgated thereunder. The AMI shall be adjusted for
family size in accordance with state regulations adopted pursuant to California Health and Safety
Code Section 50052.5.
(c) Affordable Housing Cost means a housing cost which is calculated
pursuant to California Health and Safety Code Section 50052.5, as amended from time to time,
and for the purposes hereof, the term "housing cost" shall have the meaning ascribed to such
term in 25 California Code of Regulations Section 6920, as amended rim time to time, and the
term "gross income" shall have the meaning ascribed to such term e 25 of the California
Code of Regulations Section 6914.
(d) Person, Family, or Household of Ver
person, family or household of one or more persons occ
household income does not exceed the limits set fort
Sections 50105 and 50079.5, and Title 25 of the C
seq., as the case or context may require, adjuste
the sam
lifornia Healt
ia Code of Regulati
Income means a
sing unit whose
Safety Code
ection 6910, et
(e) Oualified Household means a or Household of Very Low
or Low Income that is a First -Time Ho buyer and tha I not cause the occupancy of the
Unit to exceed the maximum occupan d by the esert Municipal Code.
(0 Escrow and Title
escrow agent & title insuranc
include loan fees, refin
other fees not directly
(g)
and his or her spouse
purchase of
may not
company s
roker c
nsfer
se fees charged by an
f escrow. These are not to
ems, homeowner's dues, or
an individual or individuals or an individual
*ng the three-year period before the
ssistan at the following individual or individuals
eration as a Firs -Time Homebuyer under this definition:
ed homemaker who, while a homemaker, owned a home
with h er spouse or r. . in e owned by the spouse. A displaced homemaker is an
adult whs not, within th eceding two (2) years, worked on a full-time basis as a member
of the labor ve twelve-month period and who has been unemployed or
underemploye fficulty in obtaining or upgrading employment and worked
primarily without en to care for his or her home and family;
) a single parent who, while married, owned a home with his or her
spouse or resided in a home owned by the spouse. A single parent is an individual who is
unmarried or legally separated from a spouse and has one or more minor children for whom the
individual has custody or joint custody or is pregnant; and
(h) Owner means both the party identified as "Owner" in first paragraph of
this Restrictive Agreement, and any successor in interest of such Owner with respect to the
Property.
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5. Restriction on Transfer.
(a) The Owner shall not voluntarily or involuntarily, in whole or in part, sell,
convey, transfer, lease, sublease, assign, encumber, mortgage, refinance, or hypothecate the
Property, or enter into agreements to sell, convey, transfer, lease, sublease, assign, encumber,
mortgage, refinance, or hypothecate the Property, except in compliance with the terms of this
Restrictive Agreement and the DDA, and with the prior written approval of the Agency's
Executive Director. Failure to obtain the prior written approval of the Agency's Executive
Director will be deemed a breach of this Restrictive Agreement and, a e option of the Agency,
shall result in an acceleration of the Note requiring the Owner to 1 tely repay the Note in
full. Notwithstanding the foregoing, Owner may lease, in antici • of selling, the Unit to a
Qualified Household for a period not to exceed ; provided that Owner
shall give Agency sixty (60) days advance written notice of ten s lease the Unit, and
such lease shall be made pursuant to a lease agreement t a rental r ceptable to the
Agency in the exercise of its sole and absolute discre
(b) Any violation or breach
or other transfer of the Property prohibited in Sec
Term shall be null, void and unenforceable and shal
result in an acceleration of the Note re ng the Owne
6. Covenant to Maintain A
(a) The Si
community's supply of 1
Cost in accordance wi
Law (California He
assign, or transfer o
cannot obtain compara
and Safety
Propert
Qual.
tion
is being co
derate-i
housin
e, Secti
ncy of th
pr
ovisions
a ab
reof is prohi nd any sale
whole or in pa during the
, at the option of the Agency,
mediately repay the Note in full.
to rease and improve the
sing ble at an Affordable Housing
irements o the Community Redevelopment
000, et seq). The Owner shall sell, convey,
perty only to Qualified Households who
n the open market as provided in Health
e)(8). , the Owner agrees that during the Term the
ffordable Housing Cost and shall only be occupied by a
primary residence.
dition elling the Property, Owner shall require the buyer of the
Property cute, ackno e and deliver to the Agency's Executive Director an assumption
of the Note e Purchas Restrictive Agreement, in fon-n and substance acceptable to the
Agency's Exec
7. Perm ransfers and Mortgages.
(a) Conveyance of Property. Any permitted transferee shall acquire the
Property subject to the terms and conditions of the Purchaser's Restrictive Agreement.
(b) First Trust Deed - Purchase. The Owner may encumber the Property with
a deed of trust or mortgage securing a purchase money loan for the benefit of a Qualified
Household on the condition that the first position trust deed complies with the terms of the
Purchaser's Restrictive Agreement. No other encumbrance of the Property is permitted without
F-4
P6402-0201 \ 1309935v4.doc
purchaser a
provide
and s
esc
is a Qualifi
hereof, the Ow
notify the Agenc
which the Owner int
providing the Agency
the prior written consent of the Agency's Executive Director, which consent may be granted or
withheld in the Executive Director's sole and absolute discretion.
8. Controls and Procedures Regarding Sale of the Property.
(a) When the Owner elects to sell the Property, the Owner shall, prior to
signing a listing agreement or other authorization to sell with a real estate broker, first provide to
the Agency's Executive Director a notice (the "Notice of Proposed Sale") setting forth the
Owner's intention to sell the Property, and a property information fo • to be prepared by the
Agency.
(b) The escrow instructions pertaining to t sall provide for conditions
or contingencies of the type and nature customarily include 1 purchase escrows
(including but not limited to financing contingencies, in rights, sreliminary title
report approvals), provided that any such conditions ngencies (oth n the status of
title to the Property at the time of conveyance and • conditions which b nature cannot
be satisfied prior to closing) must be satisfied o ed on or be ore the close row.
Escrow shall close within a reasonable time after ng therr ut not earlier t sixty (60)
days following the date upon which the notice of sa y the Agency' Executive
Director.
(c) The Owner shall
person's execution of escrow instruction
whichever is earliest, that the 'tie to the P
Purchaser's Restrictive the fo
prospective purchaser 0) days
aser in writing prior to such
ment or similar agreement,
the manner described in the
sha ivered by Owner to the
to the proposed date of sale of the Property).
(d) require a esit to open escrow in an amount not to
exceed three percent to the Property shall be delivered to the
se of netary liens and encumbrances, except as
eement. Closing costs shall be allocated between the buyer
practices in Riverside County in effect at the time the
urpose of confirming with the Agency that a proposed purchaser
11 be paying a purchase price that is in compliance with the terms
-five (45) days prior to the close of escrow for the Property) shall
e Director in writing of any offer from a prospective purchaser
o accept, disclosing the identity of such prospective purchaser and
ith such financial, credit, and other information on such prospective
purchaser as required by the Agency, including the following:
(i) Name and address of the purchaser.
(ii) Number of persons comprising the purchaser's household and their
names and ages.
F-5
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(iii) Proposed purchase price of the Property, and any other
consideration for the purchase of the Property.
(iv)
(v)
Verification purchaser is a First Time Home Buyer.
Amount of down payment.
(vi) Terms of any loan that will be used by the purchaser to finance the
purchase of the Unit, including, but not limited to, principal, interest r e, term, and loan fees.
(vii) Closing date.
(viii) Aggregate annual income of t 's household.
(ix) Most recent federal and
and all other members of the purchaser's household
verification of the proposed purchaser's salary or
current pay stubs showing year to date as well a
calendar years.
(x) Copy o
instructions, loan application, or other
Property or relating to the sale of the Un
documentation that the Agency deems ap
roposed pur
between
sing
en state
will be occupied by t ch Unit
In lie
deemed to have been sa
certificat egoi
positio
Age
Prop
information
which case the
Director fails to di
deemed approved by
ncome tax r of the purchaser
e preceding two endar years, and
from the purchaser's yer or from
payrol the preceding (2)
and sale agreement, escrow
wner and the purchaser of the
nts or any other
ed by t. .roposed purchaser that the Unit
used as his or her primary residence.
e oing ation, these requirements shall be
cy's Executive Director of a written
rmation fro purchaser's lender who shall hold a first
e Property, which certification shall be furnished to the
orty-five (45) days prior to the close of escrow for the
cy's Executive Director shall have 30 days to review the
received the certification from prospective purchaser's lender, in
ye 15 days to review the information). If the Agency's Executive
he purchaser within such period of time, then the purchaser shall be
Agency. The Agency's Executive Director may require the purchaser
to submit other written documentation reasonably requested by the Agency's Executive Director
to verify the information set forth therein and to determine that the requirements of the
Restrictive Agreement are being satisfied. If the Agency's Executive Director receives all such
prospective purchaser information requested by the Agency's Executive Director, the Agency's
Executive Director shall determine whether the prospective purchaser is a Qualified Household,
and shall thereafter immediately notify the Owner in writing that the prospective sale is
authorized and approved, or that the prospective purchaser does not qualify to purchase the Unit
as a Qualified Household.
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(i) If the Agency's Executive Director notifies the Owner that the sale is
authorized and approved, the Owner shall proceed to complete the sale of the Property as soon as
practicable.
9. Nondiscrimination Covenants. By the Owner's acceptance hereof, the Owner
agrees, for itself and its successors and assigns, to refrain from restricting the transfer of the Unit
on the basis of race, color, creed, religion, ancestry, sex, marital status, national origin or age of
any person. All such deeds and leases entered into with respect to the Property shall contain or
be subject to substantially the following nondiscrimination or nonsegr, • ation clauses:
(a) In deeds: "The grantee herein covenants
or her heirs, executors, administrators and assigns, and all per
them, that there shall be no discrimination against or segre
persons on account of any basis listed in subdivision (a)
Government Code, as those bases are defined in Sect
paragraph (1) of subdivision (p) of Section 12955
Government Code, in the sale, lease, sublease, t
the premises herein conveyed, nor shall the Grant
under or through him or her, establish or permit any
segregation with reference to the selec location, nu
lessees, subtenants, sublessees or yen remises
covenants shall run with the land.
Notwithstand.
status, said paragraph sh
Section 12955.9 of th
said paragraph sha
the California Civil
and Section 1360 of th
of the Cali
or h
or her,
there sha
account of a
Government C
paragraph (1) of s
Government Code, in
(b)
*rs, executors, a
is lease is ma
ornia
onstrued t
relatin
'fo
ases.
stra
o discriminat
is listed i
s tho
he imme
nstrued
ernmen
ect Secti
ousing for
e shall a
of Sect
926, 12926.1,
ection 12955.2 of th
for himself or herself, his
ing under or through
erson or group of
r, use, occ
self o
ancy, tenure
55 of the California
ivision (m) and
'fornia
oyment of
elf, or any pers claiming
ractices of discrimination or
se or occupancy of tenants,
conveyed. The foregoing
, with respect to familial
o hou er older persons, as defined in
e. With respect to familial status, nothing in
51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of
or citizens. Subdivision (d) of Section 51
divisions (n), (o) and (p) of Section 12955
aid paragraph."
e lessee herein covenants by and for himself or herself, his
d assigns, and all persons claiming under or through him
ed upon and subject to the following conditions: That
against or segregation of any person or group of persons, on
division (a) or (d) of Section 12955 of the California
es are defined in Sections 12926, 12926.1, subdivision (m) and
(p) of Section 12955, and Section 12955.2 of the California
easing, subleasing, transferring, use or occupancy, tenure or
enjoyment of the premises herein leased nor shall the lessee himself or herself, or any person
claiming under or through him or her, establish or permit any such practice or practices of
discrimination or segregation with reference to the selection, location, number, use or occupancy
of tenants, lessees, sublessees, subtenants or vendees in the premises herein leased.
Notwithstanding the immediately preceding paragraph, with respect to familial
status, said paragraph shall not be construed to apply to housing for older persons, as defined in
Section 12955.9 of the California Government Code. With respect to familial status, nothing in
F-7
P6402-0201 \1309935v4.doc
said paragraph shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of
the California Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51
and Section 1360 of the California Civil Code and subdivisions (n), (o) and (p) of Section 12955
of the California Government Code shall apply to said paragraph."
(c) In contracts: "The contracting party or parties hereby covenant by and for
himself or herself and their respective successors and assigns, that there shall be no
discrimination against or segregation of any person or group of persons, on account of any basis
listed in subdivision (a) or (d) of Section 12955 of the California Gov ent Code, as those
bases are defined in Sections 12926, 12926.1, subdivision (m) and aph (1) of subdivision
(p) of Section 12955, and Section 12955.2 of the California Gov nt Code, in the sale, lease,
sublease, transfer, use, occupancy, tenure or enjoyment of th nor shall the contracting
party or parties, any subcontracting party or parties, or thei ecti igns or transferees,
establish or permit any such practice or practices of dis nation or s- '..tion.
Notwithstanding the immediately p ng paragraph, with r t to familial
status, said paragraph shall not be construed to housing •r older perso defined in
Section 12955.9 of the California Government Co ith r to familial stat nothing in
said paragraph shall be construed to affect Sections .4, 51.10, 51.11, and 799.5 of
the California Civil Code, relating to h ng for senior ns. Subdivision (d) of Section 51
and Section 1360 of the California Ci d subdivi (n), (o) and (p) of Section 12955
of the California Government Code sha
The foregoing shall
burden upon the Propert
10. Mai
waste upon the Pro
Property. The Owner
improvem
maintai
Exec
def
by the
11.
Restrictive A
the defaulting pa
after service of the n
irector, t
aintenance,
cy in performi
covenant
emain
e benefit of, and as a
Against Waste. The Owner shall not commit
e or demolish the improvements on the
f, keep and maintain the Property and the
dition a . If the Owner at any time fails to so keep and
dition and repair, after 30 days notice from the Agency's
have a right to enter onto the Property and perform such
all promptly reimburse the Agency for all costs incurred
enance.
party defaults with regard to any of the provisions of this
defaulting party shall serve written notice of such default upon
fault is not cured by the defaulting party within thirty (30) days
f default, or if the default is not commenced to be cured within thirty
(30) days after service of the notice of default and is not cured promptly within a reasonable
period of time after commencement, the defaulting party shall be liable to the other party for
damages caused by such default.
12. Notices. All notices to be delivered to the parties pursuant to the terms hereof
shall be in writing and shall be delivered in person or by U.S. Mail or other delivery service to
the addresses listed below.
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P6402-0201 \1309935v4.doc
Any of the following addresses may be changed by written notice. If notice is given it
shall be deemed effective upon 3 business days after deposit of same, postage prepaid, in the
U.S. Mail, or the date of actual receipt as evidenced by personal acknowledgment, return receipt
or other comparable means.
If to Owner:
Habitat for Humanity
P.O. Box 11738
Palm Desert, CA 92255
If to the Agency: Palm Desert Redevelopment
73-510 Fred Waring Drive
Palm Desert, California
Attn: Executive Dire
13. Covenants to Run With the Land. S
established in this Restrictive Agreement shall be
interest of the Owner, and shall be for the benef
assigns, the City of Palm Desert, and Alphonso
ub. • Section 7 he e covenants
g on the Owner an uccessor in
in favor of he Agency, it essors and
z the r y in interest u :rthat
certain Stipulation for Entry of Judgment, Riverside
51124; subject to Section 6 hereof, the venants shall
and shall be a burden upon the Prope 11 be for t
the Project Area owned by the City of s descn
recorded on December 22, 198
deemed the beneficiary oft
covenants running with t
interests of the comm
benefit this Restric
The covenants here
and Safety Code Sectio
shall be in
Owner
to a
inst
breach
remedies,
enforce the c
however the 0
performance hereo
the "transferee" Own
obligations hereunder.
by
essors in i
ts secured by t
e Owner of an
o maintain
of such b
nd
nor Court Case No. INDIO
the land in favor of the Agency
efit of the parcels that comprise
Instrument No. 23610,
Rive County. The Agency is
e Agreement and of the
ts an he purposes of protecting the
or private, in whose favor and for whose
s running with the land have been provided.
he persons or entities set forth in Health
tablished in this Restrictive Agreement
in all de eying all or any portion of the Property. The
rest, as the case may be) shall furnish a copy of this instrument
me all restrictions and conveyances as recorded on all said
ed o t. The Agency shall have the right, in the event of any
venan agreement herein, to exercise all the rights and
ctions at law or suits in equity or other proper proceedings to
h of covenant or agreement. Notwithstanding the foregoing,
ccessors in interest to the Owner named herein shall be liable for
ng their respective period of ownership of the Unit, provided that
s in writing assumed and agreed to perform the "transferor" Owner's
1 in the 0
s and pr
and in
arties,
the cove
ble by an
14. No Speculative Investment. The Owner acknowledges that the acquisition of the
Property by the Owner pursuant to this Restrictive Agreement is not intended as a speculative
financial investment.
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15. Administration. The Agency may administer the terms hereof or may, from time
to time assign its rights hereunder or designate another entity, person, licensed real estate broker
or organization to administer the terms hereof.
16. Independent and Severable Provisions. If any provision of this instrument is held
by a court of competent jurisdiction to be unenforceable or invalid, such holding shall not render
unenforceable any other provision hereof, each provision hereof being expressly severable and
independently enforceable to the fullest extent permitted by law.
17. Further Assurances and Recordations. The Owner c ts that upon request of
the Agency's Executive Director, the Owner, or its heirs, succes assigns, will execute,
acknowledge and deliver, or cause to be executed, acknowled elivered, such further
instruments and agreements and do such further acts as ma ece desirable or proper to
carry out more effectively the purpose of this instrumen t e expira ef the Term, the
Agency's Executive Director agrees to provide to the an instrumen ecordable form
that has the effect of confirming the termination o fordable housing re ents of this
instrument.
18. Captions and Section Headings. Cap tion headings used herein are
for convenience only and shall not be d in construm nstrument.
19. No Waiver. No waiver
the Owner of any covenant, restriction, o
such waiver is in writing, si
Owner. Any waiver by t
covenant, restriction,
right or remedy wit
relinquishment for
condition nor bar any
heret
Si
2
enforce or t
be entitled to
the provi
the party to b
dition
ect to any
ture of a
T r
ee
er
ged.
Attorneys' F
ret any o
rd of
d by the A
of its po
n cont
ach or b
ts regar
of its
n con
hereunder, or of any breach by
, shall be effective unless
and delivered to the
ma wner's estate herein or of any
or the failure by the Agency to exercise any
es, shall not constitute a waiver or
subsequent sales, or of any such covenant or
respect of any subsequent breach.
This instrument constitutes the entire agreement of the parties
y be modified or amended only by a written instrument
In any action brought to declare the rights granted herein or to
terms of this Restrictive Agreement, the prevailing party shall
nable attorney's fees in an amount determined by the court.
22. Ame s. Only the Agency, its successors and assigns, and the Owner and its
successors and assigns, hall have the right to consent and agree to changes in, or to eliminate in
whole or in part, any of the covenants, easements, or other restrictions contained in this
Restrictive Agreement, or to subject the Property to additional covenants, easements or other
restrictions.
23. Successors and Assigns. This Restrictive Agreement shall be binding upon and
inure to the benefit of the Agency and the Owner, and their respective successors and assigns.
The terms and provisions hereof shall run with the land and shall be a burden upon the land,
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P6402-0201 \1309935v4.doc
including the Unit, and shall be binding upon the Owner's successors in interest as purchasers of
the Unit, for the benefit of the Agency.
24. Insurance. Owner shall maintain, during the Term, an all-risk Property insurance
policy insuring the Property in an amount equal to the full replacement value of all
improvements on the Property. The policy shall name the Agency as loss payee and shall
contain a statement of obligation on behalf of the carrier to notify the Agency of any material
change, cancellation or termination of coverage at least thirty (30) days in advance of the
effective date of such material change, cancellation or termination. 0 er shall transmit a copy
of the certificate of insurance and loss payee endorsement to the A s Executive Director
within thirty (30) days of the effective date of this Agreement, ner shall annually transmit
to Agency a copy of the certificate of insurance and loss paye ment, signed by an
authorized agent of the insurance carrier setting forth the g pro s of coverage. The
copy of the certificate of insurance and loss payee endo ent shall be mitted to the
Agency's Executive Director as follows:
Palm Desert Redevelopm gency, it's ccessors or a
73-510 Fred Waring Drive
Palm Desert, California 9226
Attention: utive Directo
Any certificate of insurance mu
Agency's Executive Director.
conte • with companies approved by
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IN WITNESS WHEREOF, the parties hereto have executed this Restrictive Agreement
as of the day and year first above written.
"AGENCY"
"OWNER"
PALM DESERT REDEVELOPMENT AGENCY,
public body, corporate and politic
By:
,Chairman
HABITAT FOR
VALLEY, IN
benefit co
By:
ITY OF COACHELLA
a non-profit, public
P6402-0201 \1309935v4.doc
F-12
State of California
County of Riverside
On
personally appeared , who proved to me on the
basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the ii ment the person(s), or
the entity upon behalf of which the person(s) acted, executed the i ent.
, 2011, before me,
, a Notary Public,
I certify under PENALTY OF PERJURY under the laws oft f California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal. (Seal)
Signature
State of California
County of Riverside
On
personally appeared
basis of satisfactory evi
instrume
autho '
the
I certif
foregoing
me that he/s
his/her/their signature(s) on the instrument the person(s), or
rson(s) acted, executed the instrument.
WITNESS my I seal.
Signature
, a Notary Public,
, who proved to me on the
se name(s) is/are subscribed to the within
ey executed the same in his/her/their
under the laws of the State of California that the
(Seal)
P6402-0201 \1309935v4.doc
F-13
EXHIBIT A
LEGAL DESCRIPTION
That certain real property situated in the City of Palm Desert, County of Riverside, State of
California, described as follows:
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EXHIBIT F-1
FORM OF PURCHASER'S RESTRICTIVE AGREEMENT
RECORDING REQUESTED BY
AND WHEN RECORDED RETURN TO:
Palm Desert Redevelopment Agency
73-510 Fred Waring Drive
Palm Desert, California 92260
Attention: Housing Division
EXEMPT FROM RECORDING FEES PURSUANT TO G
PURCHASER'S RESTRICT
GREEME
THIS PURCHASER'S RESTRICTIVE EMEN
including DECLARATIONS OF CONDITION VENAN
as of the day of , 20 (the "E
DESERT REDEVELOPMENT AGEN Y, a public b
and
A. The Owner
with a single-family re
of California within
described in Exhib
B. The Age
nonprofit
Devel
Dev
and a
Owner 1
t Agre
r has construe
to sell the Pro
alified House
ently h
ated in
edevelo
o and inc
T (the "Restricti i eement")
ND RESTRI NS dated
, is by and between the PALM
orate and politic (the "Agency"),
(the "Owner").
certain real property improved
y of Palm esert, County of Riverside, State
nt Agency's Project Area No. 1, legally
rated herein by reference (the "Property").
of Coachella Valley, Inc., a California
ion ("Develop are parties to that certain Disposition and
ruary , 2011 (the "DDA"). Pursuant to the DDA, the
ily residential dwelling unit on the Property (the "Unit"),
ved, to a Qualified Household (as defined below). The
C. currentl ewith, the Owner has purchased the Property from Developer
and has assume note secured by deed of trust (the "Note"), which Note was made
and delivered to A consideration of the Agency's transfer of title to the Property to
Developer, in the sum Dollars ($ ) (the "Loan") and
secured by a Deed of Trust, Assignments of Rents and Security Agreement recorded against the
Property in the official records of the County Recorder of Riverside County (the "County
Recorder") as Instrument No. (as amended, the "Deed of Trust").
D. To further the interests of the Agency, and as required by the DDA, Owner has
agreed to enter into and record this Restrictive Agreement, the purpose of which is to regulate
and provide certain restrictions with regard to occupancy, resale, and ownership of the Property.
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NOW, THEREFORE, the parties agree as follows:
AGREEMENT
I. Fundamental Provisions. The following shall serve as the basic terms of this
Restrictive Agreement:
(a) The name of the Owner is
(b) The address of the Property is and legally described
as attached in Exhibit "A".
(c) References herein to statutes or regul
regulations as amended from time to time, and to any su
2. Term of Restrictive Agreement. Th.
upon the date of recordation hereof in the officia
continue through 45 years thereafter (the "Term
the longest period feasible for continuing the Term
the Property, the Agency reserves the ri
Affordable Housing Restriction and L
The Owner's repayment of the Loan sh
3. Definitions. For purposes
shall have the meanings t specifi
t to require
eement wit
mate this
(a)
or a designee as he
Statistica
of Ho
Sec
fami
Code Sc.
nd Ur
093, and the
in accordance
50052.5.
ncy's E
so designa
tive Dir
om time e.
s r statut
e to such statutes or
regulations.
ctive Ageemen commence
ds of the County Recor nd shall
Agenc determined t 5 years is
ive Agreement. pon resale of
uyer to enter into a new
-year term from the date of resale.
*ctive Agreement.
t, the terms listed below
r means the Executive Director of the Agency
b) income of the Riverside -San Bernardino
ined and p ed annually by the United States Department
t ("HUD"), pursuant to California Health and Safety Code
mulgated thereunder. The AMI shall be adjusted for
lations adopted pursuant to California Health and Safety
,a
vel
atm
stat
Affo e Housing Cost means a housing cost which is calculated
pursuant to Cali • H nd Safety Code Section 50052.5, as amended from time to time,
and for the purpose ,the term "housing cost" shall have the meaning ascribed to such
term in 25 California e of Regulations Section 6920, as amended from time to time, and the
term "gross income" shall have the meaning ascribed to such term in Title 25 of the California
Code of Regulations Section 6914.
(d) Person, Family, or Household of Very Low or Low Income means a
person, family or household of one or more persons occupying the same housing unit whose
household income does not exceed the limits set forth in California Health and Safety Code
Sections 50105 and 50079.5, and Title 25 of the California Code of Regulations Section 6910, et
seq., as the case or context may require, adjusted for family size.
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(e) Oualified Household means a Person, Family, or Household of Very Low
or Low Income that is a First -Time Homebuyer and that would not cause the occupancy of the
Unit to exceed the maximum occupancy allowed by the Palm Desert Municipal Code.
(f) Escrow and Title Costs are to include only those customary fees charged
by an escrow agent and title insurance company with respect to the administration of escrow and
the issuance of an owner's policy of title insurance. These are not to include loan fees,
refinancing fees, broker commissions, prepaid items, homeowner's dues, or other fees not
directly related to the transfer of ownership.
(g) First -Time Homebuver means an individ
and his or her spouse who have not owned a home during the
purchase of a home with subsidy assistance, except that the win
may not be excluded from consideration as a First -Tim ebuyer
(i) a displaced homema
with his or her spouse or resided in a home own
adult who has not, within the preceding two (2) y
ndividuals or an individual
period before the
*vidual or individuals
un is definition:
o, while a homema wned a home
the spouse A displaced aker is an
worke. full-time basis member
of the labor force for a consecutive twelve-month pe o has been unemployed or
underemployed, experienced difficulty • obtaining or ng employment and worked
primarily without remuneration to car r her horn family;
(ii)
spouse or resided in a home
unmarried or legally sep
individual has custod
a single pa
ed by the
a spous
or is p
(h) th the pa
this Restrictive Agre i n
Property.
convey,
Property, o
mortgage, refi
Restrictive Agree
Executive Director.
Director will be deeme
ned a home with his or her
an individual who is
minor children for whom the
entified as "Owner" in first paragraph of
st of such Owner with respect to the
ner s ot voluntarily or involuntarily, in whole or in part, sell,
, assign, encumber, mortgage, refinance, or hypothecate the
ts to sell, convey, transfer, lease, sublease, assign, encumber,
cate the Property, except in compliance with the terms of this
e DDA, and with the prior written approval of the Agency's
e to obtain the prior written approval of the Agency's Executive
a breach of this Restrictive Agreement.
(b) Any violation or breach of the provisions hereof is prohibited and any sale
or other transfer of the Property enumerated in Section 4(a) above, in whole or in part, during the
Term, as defined herein, shall be null, void and unenforceable and shall additionally, at the
option of the Agency, result in an acceleration of the Note requiring the Owner to immediately
repay the Note in full.
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(c) In the event of the death of the Owner with no qualified surviving joint
tenants, the Agency will work with the heirs, probate court, or other responsible party to either
exercise its option to reacquire the Property in accordance with Section 8 hereof or identify a
Qualified Household to purchase the Property.
5. Covenant to Maintain Affordability.
(a) The Property is being conveyed to the Owner to increase and improve the
community's supply of low- and moderate -income housing available an Affordable Housing
Cost in accordance with the affordable housing requirements of the unity Redevelopment
Law (California Health and Safety Code, Section 33000, et seq)
assign, or transfer ownership or occupancy of the Property o
comparable housing at affordable costs on the open market
Code Section 33334.2(e)(8). To this end, the Owner a
shall, except as provided in Sections 6, 8 and 9 hereo
Housing Cost and shall only be occupied by Qual.
Agency's Executive Director's consent, the Ow
and primary residence for a period of 90 calendar
the Owner shall be in breach of this Restrictive Agre
(b) Subject to the p of
entire Term the Owner has not either ( )
except to a Qualified Household, where e
subleased the Property in vi n of the t
encumbered, or mortga
at a price exceeding t
breached the terms
restriction and forgi
Note.
who
also
to the
form and
requirement
deliver to the A
er sells th
"Owner", sha
's Executive
nce accepta
ny subse
's E
6. Permi
rty in v
e perm
of, then
cc outst
t
at during
am available o
ouseholds. In addi
its to occu the Unit as t
cum y, in any calen
wner shall sell, convey,
ons who cannot obtain
Health and Safety
erm the Property
an Affordable
'f, without the
ner's sole
year, then
Section reof, if after the expiration of the
ed, tran d, or assigned the Property
d by en 6 hereof, or (ii) leased or
need, hypothecated,
f the te ereof, or (iv) sold the Property
under Section 11 hereof, or (v) otherwise
gency shall remove the affordability
ng and any accrued interest owed under the
ion to selling the Property, Owner and any person or entity to
y other successors in interest to the Property, who will then
uire yer of the Property to execute, acknowledge and deliver
tor a ssumption of the Note and this Restrictive Agreement (in
o the Agency's Executive Director) which shall include a
buyer of the Property shall also execute, acknowledge and
ive Director such an assumption agreement.
ransfers and Mortgages.
(a) Conveyances to Qualified Households Property. Subject to the option
rights of the Agency herein, the Owner may convey the Property to Qualified Households, on the
condition that (i) the Owner complies with the requirements of Sections 9 and 11 hereof, (ii) the
purchaser covenants to occupy the Unit as such party's sole and primary residence, and (iii) the
purchase price does not exceed the maximum permitted resale price set forth in Section 11
hereof Any permitted transferee shall acquire the Property subject to the terms and conditions
hereof or a new Affordable Housing Restriction and Lien Agreement at the Agency's Executive
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Director's discretion. Any permitted transferee shall execute in recordable form any documents
necessary to accommodate the transfer in form and content satisfactory to the Agency's
Executive Director.
(b) Intra-Family Conveyances. The following transfers of title shall not be
breaches of this instrument: transfer by gift, devise, or inheritance to the Owner's spouse; taking
of title by surviving joint tenant that is the Owner's spouse; transfer of title to a spouse as part of
a divorce or dissolution proceeding; acquisition of title in conjunction with marriage; transfers of
title to adult child when the child is approved by the Agency's Execut. Director or his designee
as a Qualified Household at the time of transfer. A transfer to chili the Owner where the
income of such children exceeds the maximum household inco i Med hereunder shall give
rise to the option in favor of the Agency to purchase the Prop 'bed in Section 8;
provided, however, such option shall be exercised by the A wr 0 days after receipt by
the Agency of written notice of such transfer, and the p se price sh the amount set forth
in Section 8(e).
(c) First Trust Deed - Purcha • e Owner y encumber t operty with
a first position deed of trust or mortgage securing chase loan on the co ftion that
the first position trust deed complies with the terms o ctive Agreement.
(d) Refinancing of t Deed. standing any restriction or
covenants to the contrary that are supen o of the I f Trust, the Owner, may
refinance any first trust deed or mortgage *ded that prior written
approval of the transaction • med fro the notification and
approval process design n 10 b- .prova •e subject to the limitations that
the principal amount st, te d cond s are reasonable at the time the refinancing
takes place (in the the principal amount thereof does not exceed
the original principa e first trust deed or mortgage being
refinanced (plus reason gether with all subordinate deeds of trust
ber t y. Farlu tain prior Agency approval to refinance any
bering the Unit shall be deemed a violation or breach of terms
he option of the Agency shall constitute a default
eds of Trust. Notwithstanding any restriction or covenants to the
contrary that uperior to lien of the Deed of Trust, any loan to be secured by a junior deed
of trust encumb rty shall require the prior written approval of the Agency's
Executive Directo to the notification and approval process designated in Section 10
below. The Agency' ecutive Director shall consider in good faith whether to permit a loan of
the aforementioned type, subject to the restrictions that the proceeds of said loan are to be used to
pay for repairs or the construction of improvements to the Property, on the following terms and
conditions: (i) the principal amount of such loan shall not exceed the cost of the repairs or the
improvements (plus loan fees and loan costs), (ii) the loan is originated by a bank, savings and
loan association, or other institutional lender, (iii) the interest rate and payment terms thereon are
reasonable (in the Agency's Executive Director's opinion), (iv) the Owner shall be capable of
meeting the monthly payments provided by such loan (in the Agency's opinion), and (v) the
Property is not over encumbered. The improvements to be finance with the proceeds of any loan
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borrower's expense, shall c
request for a special noti
(b) The
refinancing of a dee
with the applicable
subordinat
Restric
savi
con
shall not include any items that are of a luxury nature, i.e., in or above ground pools or spas,
interior or exterior decorative items. Failure to obtain prior Agency approval for any loan to be
secured by a junior deed of trust encumbering the Property shall be deemed a violation or breach
of the terms of this Restrictive Agreement and at the option of the Agency shall constitute a
default hereunder.
7. Subordination to First Trust Deed Encumbrances.
(a) The Agency recognizes that immediately prior to the re
Owner is or may be recording a deed of trust that shall be superior
and the Deed of Trust, and the Agency agrees that, in such even
prior hereto shall be superior to this Restrictive Agreement a
the event of the foreclosure of such deed of trust, or the co ce
foreclosure of the Property to a bank, savings and loan, ther institu
beneficiary of such deed of trust superior to the lien
and be of no force or effect; provided, however, if
Property pursuant to a deed in lieu of foreclosur
the Agency has been given written notice of a de
Agency shall not have cured the default under the se
curing of the default as determined by enior lien ho
notice is sent to the Agency.
rdation hereof, the
Restrictive Agreement
deed of trust recorded
d of Trust. Therefore, in
ed in lieu of
lender that is the
, the provisions
nior lien holder acqu
the term ereof shall te
der t
f shall terminate
'tie to the
te only if (i)
ior deed of trus d (ii) the
trust, or diligently pursued the
ithin 60 days after the date the
On recording any such first deed he borrower, at the
ounty Recorder a written
o be reco
in favo
gency.
e event of a resale of the Property or a
lien hereof (in each case in compliance
ement), the Agency agrees to execute a
and subs eptable to the Agency, subordinating this
ed of Trust to any first deed of trust, in favor of any bank,
institutional lender, subject to the following terms and
ipal amount of the new loan does not exceed the original
principal am of the ba ng refinanced, plus reasonable loan fees and costs;
(11 s and provisions of the loan secured by such deed of trust,
including interest rat amortization, fees, acceleration clauses, late payment charges, and
prepayment charges, shall conform substantially to the provisions in the lender's loan documents
for comparable loans, unless deviations are pre -approved in writing in advance of the
subordination by the Agency;
(iii) The borrower shall deliver to the Agency true and accurate copies of the
loan agreement, proposed promissory note, deed of trust, and a written statement from the
borrower certifying that such documents are true and accurate copies of the loan documents
which the borrower intends to execute in connection with the loan;
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(iv) On recording the new first trust deed, the borrower, at the borrower's
expense, causes to be recorded in the office of the County Recorder a written request for a
special notice of default in favor of the Agency;
(v) The borrower shall deliver to the Agency, at the owner's expense,
evidence of insurance coverage satisfying the requirement of Section 30 hereof; and
(vi) The Agency may condition any such subordination upon its receipt of
assurances from a reputable title company that this Restrictive Agree t is not being
subordinated to any liens or encumbrances other than such new loa e result of such
subordination.
If the Agency, at its sole election, advances
that are due and payable by the Owner to the senior lien
be due and payable by the Owner to the Agency toge
legal rate permitted under California usury laws.
8. Agency Option to Purchase.
r, such a
ith interest the
y senior lien holders
ts shall immediately
t the maximum
(a) Option. In order o maintain an that the Unit shall remain
affordable to and only occupied by a Househol Agency is hereby granted an
option, throughout the Term hereof, to Propert e Owner desires to transfer the
Property, or to find another Qualified Ho ole ase th • erty. The option shall be
exercised in writing by the A ency's Exec in sixty (60) days after the
Agency's Executive Dire t of th otice otice of Proposed Sale") of
the Owner's desire to er the certy as ded in Section 9(a), below. During such sixty
(60) day period Ow n-ently a ept to market the Property to sell it to a
Qualified Househo ection 9 h . With Agency approval, the Owner may
enter into an agreemen ell Q ied Household at a price that does not
in Se eof. Provided the Agency's Executive
ousehold that t e owner presents, then the Agency shall not
er buyer. If the Agency exercises the Option, then the
ptly open escrow thereafter and shall close escrow for
that is sixty (60) days after the Agency opens escrow.
ivered to the Agency at the close of escrow free and clear of
es, and closing costs shall be allocated in the fashion as is
s in Riverside County.
exceed the
Directo
then
Ag
the pu
Title to th
monetary lie
customary for
se the opt!
Executive Dir
of the Unit p
(b) ncy's Failure to Close Following Exercise of the Option. If the
Agency exercises the option to purchase but, due to the Agency's sole fault, the Agency does not
close escrow within one hundred twenty (120) days after the date the Agency first received the
Notice of Proposed Sale, then the Owner shall be entitled to sell the Property to a person or
family that is not a Qualified Household, provided, however, (i) if the Property is sold to a
person or family that is not a Qualified Household or (ii) if the Property is sold at a price that
exceeds the maximum resale price set forth in Section 11 hereof, then the Owner shall repay the
Loan (including all accrued interest thereon) to the Agency as provided in Section 9(c) below.
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(c) Terms of Purchase. If the Agency exercises the option, the purchase price
to be paid by the Agency shall be paid all in cash at the close of escrow. The Owner may require
a deposit to open escrow in an amount not to exceed three percent (3%) of the purchase price.
Title to the Property shall be delivered to the Agency at the close of escrow free and clear of
monetary liens and encumbrances. Closing costs shall be allocated between the buyer and seller
according to the customary practices in Riverside County in effect at the time the option is
exercised.
(d) Conditions to Close of Escrow. The escrow in ctions may provide for
conditions or contingencies of the type and nature customarily incl n residential purchase
escrows (including but not limited to inspection by the Agency mination of pests, and
preliminary title report approvals), provided that any such co contingencies (other
than the status of title to the Property at the time of conve conditions which by
their nature cannot be satisfied prior to closing) must b ied or wai n or before the
close of escrow. The proceeds of the sale shall be u pay off all mone iens and
encumbrances upon the close of escrow. Escrow lose within 60 days a e Agency
exercises its option to purchase.
(e) Purchase Price. The purchase Property to be paid by the
Agency pursuant to the Agency's exer of the Optio be the lesser of:
(i) The actua r uce paid e Owner for the Property plus
reasonable and customary Escrow and Ti the Owner in purchasing
such Property, times a fract e numera or the year in which the sale
takes place, and the den hich is ner purchased the Property
(and subtracting there he am of the which the Agency shall assume from the
Owner); or
below, ass
at the ti
as purc
Property; or
e determined pursuant to Section 11(a),
f the same income category as was the seller
arket value of the Property, as determined by an appraiser
appro ector.
trols and Procedures.
(a wner elects at any time to sell the Property, then the Owner shall,
prior to signing a lis reement or other authorization to sell with a real estate broker, first
provide to the Agency' Executive Director a notice (the "Notice of Proposed Sale") setting forth
the Owner's intention to sell the Property, and a property information form to be prepared by the
Agency. Such Notice shall contain information about the Owner's original purchase price of the
Property. Agency's Executive Director shall have sixty (60) days from the time following the
receipt by the Agency's Executive Director of the Notice to find a new buyer for the Property
being sold, or sixty (60) days to exercise the Agency's option to purchase described in Section 7;
provided, however, the Agency or its designee may shorten such time period upon a showing of
hardship by the Owner. The Owner agrees to consider as purchasers those Qualified Households
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identified on a list that may be maintained by the Agency. Nothing contained herein shall be
construed as imposing on the Agency any obligation to find a purchaser of the Unit if the Owner
has elected to sell the Property.
(b) If the Owner resells the Property to a Qualified Household at a price that
does not exceed the price set forth in Section 11, then the provisions hereof shall continue to
encumber the Property, and the Agency shall subordinate its interest in this Restrictive
Agreement and the Deed of Trust as provided in Section 7 hereof. Each successor in interest to
Owner that is a Qualified Household shall acquire the Property subjec
covenants of forty-five (45) years, and restrictions on such propert
Agreement and the Deed of Trust; and if Agency purchases suc
Property, such acquisition shall not operate to merge this Res
Trust into the Agency's fee interest.
(c) If, after expiration of the sixty
failed to procure an eligible and qualified buyer a
the Owner shall then be free to seek a buyer for
price or income category of the purchaser; provid
Qualified Household, or (ii) if the resale price excee
Section 11 hereof, then the Owner sha
the Agency, plus an amount equal to 2
by the Owner exceed the maximum resa
(d) The
the type and nature cust
limited to financing c
provided that any
the time of convey
closing) must be satis
shall be u iff
shall cl
person
similar a
manner desc
(e)
cution of escr
nt, whichev
herein.
instruct
ded in
ection
ntingen
ions whi
ary liens
ay the Loan
amount b
rth in
the affordability
ided in this Restrictive
erty and resells the
reement and the Deed of
ay period, Age ar its designee has
Agency has not exer its option, then
roperty wit ut any limita resale
weve the purchaser i ot a
urn resale price set forth in
ding all accrued interest thereon) to
'eh the net sale proceeds received
11.
conditions or contingencies of
pure scrows (including but not
s, and preliminary title report approvals),
other than the status of title to the Property at
their nature cannot be satisfied prior to
lose of escrow. The proceeds of the sale
mbrances upon the close of escrow. Escrow
e after opening thereof.
ner notify any proposed purchaser in writing prior to such
struc s, deposit receipt, purchase and sale agreement or
earliest, that the title to the Property will be restricted in the
(f) ner may require a deposit to open escrow in an amount not to
exceed three percent of the purchase price. Title to the Property shall be delivered to the
purchaser at the close of escrow free and clear of monetary liens and encumbrances, except as
provided for in this Restrictive Agreement. Closing costs shall be allocated between the buyer
and seller according to the customary practices in Riverside County in effect at the time the
escrow is opened.
(g) For the purpose of confirming with the Agency that a proposed purchaser
is a Qualified Household that will be paying a purchase price that is in compliance with the terms
hereof, the Owner shall notify the Agency's Executive Director in writing of any offer from a
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P6402-0201 \1309935v4.doe
prospective purchaser which the Owner intends to accept, disclosing the identity of such
prospective purchaser and providing the Agency with such financial, credit, and other
information on such prospective purchaser as required by the Agency, including the following:
(i)
(ii)
names and ages.
(iii) Proposed purchase price of the Prope d any other
consideration for the purchase of the Property.
(iv) Verification purchaser is a Fi e e Buyer.
(v) Amount of down paym
(vi) Terms of any loan ill be used by the purch o finance the
purchase of the Unit, including, but not limited t ' cipal, i t rate, term, an fees.
Narne and address of the purchaser.
Number of persons comprising the purchaser's household and their
(vii) Closing date.
(viii)
MOSi
�r to
s household.
returns of the purchaser
�1X�
and all other members of t
verification of the brobc�
current pay stubs
calendar years.
's h hol dirig two (2) calendar years, and
s sal ges from purchaser's employer or from
as well eriod payroll for the preceding two (2)
se and sale agreement, escrow
the Owner and the purchaser of the
that
(xi)
will be oc by the pu
In �
deemed to have be
certification of the fo
Unit including closing documents or any other
,s appropriate to implement this Restrictive Agreement.
writt statement signed by the proposed purchaser that the Unit
�r of such Unit and used as his or her primary residence.
�f providing the foregoing information, these requirements shall be
i by delivery to the Agency's Executive Director of a written
information from the purchaser's lender who shall hold a first
position trust deed encumbering the Property, which certification shall be furnished to the
Agency's Executive Director at least I S days prior to the close of escrow for the Property.
(h) The Agency's Executive Director shall have 30 days to review the
information (unless the Agency received the certification from prospective purchaser's lender, in
which case the Agency shall have 15 days to review the information}. If the Agency's Executive
Director fails to approve the purchaser within such period of time, then the purchaser shall be
deemed approved by the Agency. The Agency's Executive Director may require the purchaser
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to submit other written documentation reasonably requested by the Agency's Executive Director
to verify the information set forth herein and to determine that the Affordable Housing Cost
restrictions of this instrument are being satisfied. If the Agency's Executive Director receives all
such prospective purchaser information requested by the Agency's Executive Director, the
Agency's Executive Director shall determine whether the prospective purchaser is a Qualified
Household, and shall thereafter immediately notify the Owner in writing that the prospective sale
is authorized and approved, or that the prospective purchaser does not qualify to purchase the
Unit as a Qualified Household.
(i) If the Agency's Executive Director notifies ner that the sale is
authorized and approved, the Owner shall proceed to complete t • e of the Property within
seventy-five (75) days of the date of such approval from the xecutive Director.
10. Notification Prior to Mortgage, Encumb or Hvnoth n. If Owner desires
to refinance any loan secured by a first trust deed en ring the Unit p t to Section 6(d),
or to borrow funds for a new loan to be secured b ior trust deed encum the Unit the
proceeds of which are to be used to pay for rep the const ion of impro ts to the
Property pursuant to Section 6(e), prior written ap 1 oft my's Executiv 'rector is
required. To request approval, at least 30 days prior ation of the intended deed of
trust or mortgage, the Owner shall sub • o the Agenc ecutive Director in writing the
following information:
(a) Name and address
(b) T oan, inc
term, and loan fees.
agreeme
appro
the informatio
propo
d the lender.
t not d to, principal, interest rate,
instructions, loan application, or other
ntation of compliance with the conditions for Agency
ction 6(e), whichever applies.
tten documentation reasonably requested by the Agency to verify
The s Executive Director shall have twenty (20) working days, after its
receipt of all of such i • rmation to approve or disapprove the proposed refinancing or loan.
11. Restriction on Resale Price. Except as otherwise provided in by Sections 8 and 9,
the Owner shall not resell the Property at a price higher than the lesser of the following:
(a) An Affordable Housing Cost for the prospective purchaser, assuming (i) a
reasonable down payment, and (ii) a 30 year fixed rate mortgage at prevailing interest rates.
(b) The sum of:
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(i) the selling Owner's original purchase price for the Property times a
fraction, the numerator of which is the AMI for the year in which the sale takes place, and the
denominator of which is AMI in which the Owner purchased the Property; plus
(ii) Escrow asid Title Costs; plus
(iii) if the Owner sells the Property after a default under a mortgage or
deed of trust, but prior to a trustee's sale or foreclosure sale, the purchase price shall be further
increased by all expenses actually incurred by the holder of such mort e or beneficiary under
such deed of trust due to the Owner's default including, but not lim' , trustee's fees,
attorney's fees, costs of sale and debt service on the debt secure ch mortgage or deed of
trust.
(c) the fair market value of the
approved by the Agency's Executive Director.
12. Repavment of the Loan. Upon
and payable, except as follows:
If the resale of the Property is to n�
from the date of the seller's acquisitio
the new Qualified Household shall be p
and after the closing date of the resale (
upon another resale to yet another Qualifie
Term hereof, if there hav esales 1
Qualified Household, ncip ance
forgiven by the Ag ubject to in ac
13.
requesting
Non i
agr r itself and its
on the ' of race, color,
any pers 11 such deeds
be subject t tantially tl
an appraiser
of the PYoperty, the
be due
,ehold, then (i) all interest accrued
the closing date of the resale to
�.interest shall then accrue from
inter in to be subject to payment
e e of the forty-five (45) year
n, a household other than a
ng and any accrued interest shall be
with the provisions of Section 5(b) hereof.
've Director shall have the option of
, to implement this Restrictive Agreement.
ovenants. By the Owner's acceptance hereof, the Owner
► assigns, to refrain from restricting the transfer of the Unit
, re , ancestry, sex, marital status, national origin or age of
leases entered into with respect to the Property shall contain or
llowing nondiscrimination or nonsegregation clauses:
(a I s: "The grantee herein covenants by and for himself or herself, his
or her heirs, executo inistrators and assigns, and all persons claiming under or through
them, that there shall b no discrimination against or segregation of, any person or group of
persons on account of any basis listed in subdivision (a) or (d) of Section 12955 of the California
Government Code, as those bases are defined in Sections 12926, 12926.1, subdivision (m) and
paragraph (1) of subdivision (p) of Section 12955, and Section 12955.2 of the California
Government Code, in the sale, transfer, use, occupancy, tenure or enjoyment of the premises
herein conveyed, nor shall the Grantee himself or herself, or any person claiming under or
through him or her, establish or permit any practice or practices of discrimination or segregation
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with reference to the selection, location, number, use or occupancy of vendees in the premises
herein conveyed. The foregoing covenants shall run with the land.
Notwithstanding the immediately preceding paragraph, with respect to familial
status, said paragraph shall not be construed to apply to housing for older persons, as defined in
Section 12955.9 of the California Government Code. With respect to familial status, nothing in
said paragraph shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of
the California Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51
and Section 1360 of the California Civil Code and subdivisions (n), ( nd (p) of Section 12955
of the California Government Code shall apply to said paragraph."
(b) In contracts: "The contracting party or
himself or herself and their respective successors and assig
discrimination against or segregation of any person or
listed in subdivision (a) or (d) of Section 12955 of th
bases are defined in Sections 12926, 12926.1, sub
(p) of Section 12955, and Section 12955.2 of th
transfer, use, occupancy, tenure or enjoyment oft
parties, any subcontracting party or parties, or their r
permit any such practice or practices o criminatio
Notwithstanding the im
status, said paragraph shall not be const
Section 12955.9 of the Cali
said paragraph shall be c
the California Civil C
and Section 1360
of the California Go
a burde
shall
Age
Gove
ffect S
ousing
'1 Code
1 apply to
f persons,
ornia Govern
ereby covenant by and for
all be no
count of any basis
ode, as those
n (m) and paragraph
fornia Govi ent Code,
mises all the contrac
f subdivision
sale,
g party or
signs or transferees, establish or
ns egation.
eding p ph, with respect to familial
lder persons, as defined in
ect o familial status, nothing in
.2, 51. .4, 51.10, 51.11, and 799.5 of
enior citizens. Subdivision (d) of Section 51
ubdivisions (n), (o) and (p) of Section 12955
paragraph."
be a co nning with the land for the benefit of, and as
all remain in effect in perpetuity. Nothing contained herein
wner or Successors to rent or lease the Property without the
1 Maintenance he Unit/Prohibition Against Waste. The Owner shall not commit
waste upon operty. Ti wner shall not remove or demolish the improvements on the
Property. The oughout the Term hereof, keep and maintain the Property and the
improvements the • d condition and repair. If the Owner at any time fails to so keep and
maintain the Propert ood condition and repair, after 30 days notice from the Agency's
Executive Director, the Agency shall have a right to enter onto the Property and perform such
deferred maintenance, and the Owner shall promptly reimburse the Agency for all costs incurred
by the Agency in performing such maintenance.
16. Default. If either party defaults with regard to any of the provisions of this
Restrictive Agreement, the nondefaulting party shall serve written notice of such default upon
the defaulting party. If the default is not cured by the defaulting party within thirty (30) days
after service of the notice of default, or if the default is not commenced to be cured within thirty
F-1-13
P6402-0201 \1309935v4.doc
(30) days after service of the notice of default and is not cured promptly within a reasonable
period of time after commencement, the defaulting party shall be liable to the other party for
damages caused by such default.
17. Notices. All notices to be delivered to the parties pursuant to the terms hereof
shall be in writing and shall be delivered in person or by U.S. Mail or other delivery service to
the addresses listed below.
Any of the following addresses may be changed by written not
shall be deemed effective upon 3 business days after deposit of sa
U.S. Mail, or the date of actual receipt as evidenced by personal
or other comparable means.
If to Owner:
Habitat for Huma
P.O. Box 1173
Palm Desert
255
e. If notice is given it
tage prepaid, in the
wledgment, return receipt
If to the Agency: Palm Dese evelop gency
73-510 Fred
P Desert, Cali 2260
ecutive Dir
18. Covenants to Run With th
Agreement shall be binding on the Owner
be for the benefit and in
and Alphonso Sanche
Judgment, Riversid
run with the land in
the benefit of the parc
described i
Rivers].
Rest
for
in who
the land h
entities set
Restrictive Agy
portion of the Pro
furnish a copy of this
ent
Agreeme
rposes of prote
or and for wh
een provided
' Health
t sh
blished in this Restrictive
st of the Owner, and shall
ssor signs, the City of Palm Desert,
er that certain Stipulation for Entry of
o. INDIO 51124; and such covenants shall
a burden upon the Property and shall be for
a owned by the City of Palm Desert, as
, recor. ember 22, 1981 in the Official Records of
deemed the beneficiary of the terms and provisions of this
venants running with the land, for and in its own rights and
sts of the community and other parties, public or private,
enefi s Restrictive Agreement and the covenants running with
e covenants hereof shall be enforceable by any of the persons or
afety Code Section 33334.3(0. The covenants established in this
incorporated by reference in all deeds conveying all or any
Owner (and each successor in interest, as the case may be) shall
ment to any successors in interest and assume all restrictions and
Agenc
intere
ourt Ca
y and sha
ect
conveyances as recorded on all said instruments secured by the Deed of Trust. The Agency shall
have the right, in the event of any breach by the Owner of any covenant or agreement herein, to
exercise all the rights and remedies, and to maintain any actions at law or suits in equity or other
proper proceedings to enforce the curing of such breach of covenant or agreement.
Notwithstanding the foregoing, however, the Owner and the successors in interest to the Owner
named herein shall be liable for performance hereof only during their respective period of
ownership of the Unit, provided that the "transferee" Owner has in writing assumed and agreed
to perform the "transferor" Owner's obligations hereunder.
F-1-14
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19. No Sneculative Investment. The Owner acknowledges that the acquisition of the
Property by the Owner pursuant to this Restrictive Agreement is not intended as a speculative
financial investment.
20. Administration. The Agency may administer the terms hereof or inay, from time
to time assign its rights hereunder or designate another entity, person, licensed real estate broker
or organization to administer the terms hereof.
2 L Independent and Severable Provisions. If any provisio f this instrument is held
by a court of competent jurisdiction to be unenforceable or invalid, olding shall not render
unenforceable any other provision hereof, each provision hereof expressly severable and
independently enforceable to the fullest extent permitted by 1
22. Further Assurances and Recordations. T �ner cove that upon request of
the Agency's Executive Director, the Owner, or its h' ccessors or as will execute,
acknowledge and deliver, or cause to be executed, wledged and delive ch further
instruments and agreements and do such further s may be cessary, desir r proper to
carry out more effectively the purpose of this inst t. At piration of the , the
Agency's Executive Director agrees to provide to th nstrument in recordable form
that has the effect of confirming the te ' ation of the le housing requirements of this
instrument.
23. Captions and Section
for convenience only and sh ot b
the Owner of any
headings used herein are
y of its riglits hereunder, or of any breach by
herein contained, shall be effective unless
•ecutive Director and delivered to the
inate the Owner's estate herein or of any
erein , or the failure by the Agency to exercise any
breach or breaches, shall not constitute a waiver or
'ghts regarding subsequent sales, or of any such covenant or
f the Agency in respect of any subsequent breach.
t. This instrument constitutes the entire agreement of the parties
f may be modified or amended only by a written instrument
26. Attor�A ees. In any action brought to declare the rights granted herein or to
enforce or to interpret a y of the terms of this Restrictive Agreement, the prevailing party shall
be entitled to an award of reasonable attorney's fees in an amount determined by the court.
27. Amendments. Only the Agency, its successors and assigns, and the Owner and its
successors and assigns, [in and to all or any part of the fee title to the Property] shall have the
right to consent and agree to changes in, or to eliminate in whole or in part, any of the covenants,
easements, or other restrictions contained in this Restrictive Agreement, or to subject the
Property to additional covenants, easements or other restrictions.
F-1-15
P6402-0201\1309935v4.doc
28. Successors and Assigns. This Restrictive Agreement shall be binding upon and
inure to the benefit of the Agency and the Owner, and their respective successors and assigns.
The terms and provisions hereof shall run with the land and shall be a burden upon the land,
including the Property Unit, and shall be binding upon the Owner's successors in interest as
purchasers of the Property Unit, for the benefit of the Agency.
29. Foreclosure of Su6erior Mortgage. In the event of the foreclosure of a deed of
trust or mortgage superior to the lien hereof, or the conveyance by deed in lieu of foreclosure of
the Unit to a bank, savings and loan, or other institutional lender holda deed of trust or
mortgage superior to the lien hereof, the provisions hereof shall te and be of no force or
effect; provided, however, if the senior lien holder acquires title Unit pursuant to a deed in
lieu of foreclosure, then the terms hereof shall terminate only gency has been given
written notice of a default under the senior deed of trust an he shall not have cured
the default under the senior deed of trust, or diligently ed the cunn he default as
determined by the senior lien holder, within 60 days e date the not ent to the
Agency's Executive Director.
30. Insurance. Owner shall maintain, the an all-risk Prop y insurance
policy insuring the Property in an amount equal to th ement value of the structure on
the Property. The policy shall name t ency as loss and shall contain a statement of
obligation on behalf of the carrier to n ency of. saterial change, cancellation or
termination of coverage at least thirty ( ance o ffective date of such material
change, cancellation or termination. Ow e certificate of insurance
and loss payee endorsemen Agency ec wi in thirty (30) days of the
effective date of this A Owner i ually tr it to Agency a copy of the
certificate of insuran loss pa endorse t, signed by an authorized agent of the
insurance carrier s al provis of coverage. The copy of the certificate of
insurance and loss 11 be tra itted to the Agency's Executive Director as
follows:
Any
Agency's Exec
elopment Agency, it's successors or assigns
rive
2260
Director
nce must be in a form, content, and with companies approved by
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IN WITNESS WHEREOF, the parties hereto have executed this Restrictive Agreement
as of the day and year first above written.
"AGENCY"
"O�
PALM DESERT REDEVELOPMENT AGENCY,
public body, carporate and politic
:
F-1-17
, Chairman
P6402-0201 \l 309935v4.doc
State of California
County of Riverside
On , 20 , before me, , a Notary Public,
personally appeared , who proved to me on the
basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the 1
the entity upon behalf of which the person(s) acted, executed the i ent.
ment the person(s), or
I certify under PENALTY OF PERJURY under the laws of t California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal. (Seal)
Signature
State of California
County of Riverside
On
personally appeared
basis of satisfa tory evi
instrume
autho •
the
I certify
foregoing
Signature
, a Notary Public,
, who proved to me on the
se name(s) is/are subscribed to the within
me that he/s ey executed the same in his/her/their
his/her/their signature(s) on the instrument the person(s), or
son(s) acted, executed the instrument.
ERJ Y under the laws of the State of California that the
correct.
al seal. (Seal)
F- 1- I 8
P6402-0201 \1309935v4.doc
EXHIBIT A
LEGAL DESCRIPTION
That certain real property situated in the City of Palm Desert, County of Riverside, State of
California, described as follows:
F- 1-19
P6402-0201 \1309935v4.doc
EXHIBIT G
Recording Requested By, and
When Recorded, Mail To:
Palm Desert Redevelopment Agency
73-510 Fred Waring Drive
Palm Desert, CA 92260
Attn: Housing Division
Free Recording Requested Pursuant To Government Code Sectio�3
DEED OF TRUST, ASSIGNMENT OF
APN(s):
This Deed of Trust, Assignment of Rents
, 2011, by HABITAT OF :
VALLEY, INC., herein called Trusto e ad
California in favor of First American
PALM DESERT REDEVELOPMENT
called Beneficiary,
Witnesseth:
TO TRUSTEE IN ".
California, describe
together with all im
owned by Trustor a
REEMENT
eement is made ttTis day of
F THE COACHELLA
ox 11738, Palm Desert,
�s Trustee, for the benefit of the
,orporate and politic, herein
ZANT�!�'�ANSFERS AND ASSIGNS
, that property in Riverside County,
incorporated herein by this reference,
�d all goods and other personal property
� "Property").
issues and profits thereof, SUBJECT, HOWEVER, to the
given to and conferred upon Beneficiary to collect and
�each agreement of Trustor herein contained.
2. Paym the indebtedness evidenced by a promissory note of even date
herewith, and any extension or renewal thereof, in the principal sum of $20,000.00 executed by
Trustor in favor of Beneiiciary or order.
3. The obligations of the Trustor, and its successors-in-interest to the Property, under
that certain Affordable Housing Restriction and Lien Agreement dated , 2011 (the
"Restrictive Agreement"), by and between Trustor and Beneficiary, and recorded concurrently
herewith.
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P6402-0201 \1309935v4.doc
------------------------------Space Above This Line for Recor s --
To Protect the Security of This Deed of Trust, Trustor Agrees:
(1) To keep said Property in good condition and repair; not to remove or demolish
any building thereon; to complete or restore promptly and in good workmanlike manner any
building which may be constructed, damaged or destroyed thereon and to pay when due all
claims for labor performed and materials furnished thereof; to comply with all laws affecting
said Property, or requiring any alterations or improvements to be made thereon; not to commit or
permit waste thereof; not to commit, suffer or permit any act upon said Property in violation of
law; and to do all other acts which from the character or use of said Pr' serty may be reasonably
necessary, the specific enumerations herein not excluding the gene
(2) To provide or cause to provide, maintain and d
satisfactory to and with loss payable to Beneficiary and any no
interests may appear. The amount collected under any e r other ins
applied by Beneficiary upon any indebtedness secure y and in such
may determine, or at option of Beneficiary the ent ount so collected or
be released to Trustor. Such application or relea 11 not cure
default hereunder or invalidate any act done purs s such
(3) To appear in and defend action or p
hereof or the rights or powers of Bene Trustee; a
including cost of evidence of title and a in a rea
proceeding in which Beneficiary or Trust
to foreclose this Deed of T
(4) To pay.
said Property, inclu
charges and liens,
superior hereto; all co
Bene
Tru
in suc
Beneficia
in and defen
powers of Ben
charge or lien whi
exercising any such
fees.
or Trust
d without rele
er and to suc
Trustee bein
action or
y or
s,
d in
waive any
Beneficiary fire insurance
deed holder, as their
e policy may be
as Beneficiary
art thereof may
or notice of
ng purporting to affect the security
ay all costs and expenses,
le sum, in any such action or
uit brought by Beneficiary
s befor quency all taxes and assessments affecting
appurt t water stock; when due, all encumbrances,
Property ny part thereof, which appear to be prior or
his st.
any payment or to do any act as herein provided, then
bligation so to do and without notice to or demand upon
om any obligation hereof, may: (a) make or do the same
ent as er may deem necessary to protect the security hereof,
thorized to enter upon said Property for such purposes; (b) appear
eeding purporting to affect the security hereof or the rights or
e; (c) pay, purchase, contest or compromise any encumbrance,
dgment of either appears to be prior or superior hereto; and (d) in
pay necessary expenses, employ counsel and pay his reasonable
(5) To pay immediately and without demand all sums so expended by Beneficiary or
Trustee, with interest from date of expenditure at the amount allowed by law in effect at the date
hereof, and to pay for any statement provided for by law in effect at the date hereof regarding the
obligation secured hereby any amount demanded by the Beneficiary not to exceed the maximum
allowed by law at the time when said statement is demanded.
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P6402-0201 \1309935v4.doc
(6) That any award of damages in connection with any condemnation for public use
of or injury to said Property or any part thereof is hereby assigned and shall be paid to
Beneficiary (and to any superior trust deed holder, as their interests may appear) who may apply
or release such moneys received by him in the saine manner and with the same effect as above
provided for disposition of proceeds of fire or other insurance.
(7) That by accepting payment of any sum secured hereby after its due date,
Beneficiary does not waive his right either to require prompt payment when due of all other sums
so secured or to declare default for failure so to pay.
(8) That at any time or from time to time, without lia ' erefore and without
notice, upon written request of Beneficiary and presentation o ed of Trust and said note
for endorsement, and without affecting the personal liabilit y for payment of the
indebtedness secured hereby, Trustee may: (a) reconvey art of sai erty; (b) consent to
the making of any map or plat thereof; (c) join in gra ny easement t ; or (d) join in
any extension agreement or any agreement subord� g the lien or charge h
(9) That upon written request of Bene s
been paid, and upon surrender of this Deed of Trust
retention and upon payment of its fees, stee shall re
then held hereunder. The recitals in s vevance o
conclusive proof of the truthfulness the�
as "the person or persons legally entitled
reconveyance, Trustee may oy said
request to retain them).
m
all sums
have
to Trustee for cancellation and
, without warranty, the Property
atters or facts shall be
conveyance may be described
a ' suance of such full
;�'ru unless directed in such
(10) Tha ditional se 'ty, subj o the rights of superior trust deed holders, as
their interests may a , Trusto by gives t d confers upon Beneficiary the right, power
and authority, during t ti s collect the rents, issues and profits of
said Propet -ving u or the n to any default by Trustor in payment of any
indebte reb performance o any agreement hereunder, to collect and retain
such , issues an ts as become due and payable. Upon any such default,
Ben y may at any with tice, either in person, by agent, or by a receiver to be
appoin a court, and ut re to the adequacy of any security for the indebtedness
hereby se enter upon take possession of said Property or any part thereof, in his own
name sue fo herwise c t such rents, issues and profits, including those past due and
unpaid, and ap sa s costs and expenses of operation and collection, including
reasonable attorne on any indebtedness secured hereby, and in such order as
Beneficiary may dete e. The entering upon and taking possession of said Property, the
collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure
or waive any default or notice of default hereunder or invalidate any act done pursuant to such
notice.
(11) That upon default by Trustor in payment of any indebtedness secured hereby, or
in performance of any agreement hereunder, or default by Trustor under the DDA or Restrictive
Agreement, Beneficiary may declare all sums secured hereby immediately due and payable by
delivery to Trustee of written declaration of default and demand for sale and of written notice of
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P6402-0201 \ 1309935v4.doc
default and election to cause to be sold said Property, which notice Trustee shall cause to be filed
for record.
After the lapse of such time as may then be required by law following the recordation of
said notice of default, and notice of sale having been given as then required by law, Trustee,
without demand on Trustor, shall sell said Property at the time and place fixed by it in said notice
of sale, either as a whole or in separate parcels, and in such order as it may determine, at public
auction to the highest bidder for cash in lawful money of the United States, payable at time of
sale. Trustee may postpone sale of all or any portion of said Property ublic announcement at
such time and place of sale, and from time to time thereafter may p e such sale by public
announcement at the time fixed by the preceding postponement. ee shall deliver to such
highest bidder its deed conveying the Property so sold, but w covenant or warranty,
express or implied. The recitals in such deed of any matters cts e conclusive proof of
the truthfulness thereof. Any person, including Trustor, tee, or Ben ry may purchase the
Property at such sale.
After deducting all costs, fees and expe Trustee
evidence of title in connection with sale, Trustee pply t
all sums expended under the terms hereof, not then r
allowed by law in effect at the date her all other su
remainder, if any, to the person or per entitled
(12) Beneficiary, or any succes
may from time to time, by i i ent in w
Trustee named herein or
duly acknowledged
said Property is si
Trustee or Trustees,
its title estate, rights, p
Trustor, T
recorde
hereto,
Beneficia
whether or n
requires, the m
includes the plura
Bene
3) That this
• heirs, legatees,
11 include th
ed as Be
•neg
nder,
e office
usive pr
conveyan
ereunder,
a of this Trust, ding cost of
ceeds of sale t yment of:
ccrued interest at the amount
secured hereby; and the
to.
ebtedness secured hereby,
cce or or successors to any
men uted by the Beneficiary and
e recorder of the county or counties where
f proper substitution of such successor
om the Trustee predecessor, succeed to all
ent must contain the name of the original
k and page where this Deed of Trust is
s of the new Trustee.
pplies to, inures to the benefit of, and binds all parties
visees, inistrators, executors, successors and assigns. The term
ner and holder, including pledges, of the note secured hereby,
ciary herein. In this Deed of Trust, whenever the context so
includes the feminine and/or neuter, and the singular number
(14) That Trustee accepts this Trust when this Deed of Trust, duly executed and
acknowledged, is made a public record as provided by law. Trustee is not obligated to notify any
party hereto of pending sale under any Deed of Trust or of any action or proceeding in which
Trustor, Beneficiary or Trustee shall be a party unless brought by Trustee.
(15) If the Trustor shall sell, lease, transfer, assign, convey, encumber, mortgage,
hypothecate or alienate the real Property described herein, or any part thereof, or any interest
therein, or shall be divested of title or any interest therein in any manner or way, whether
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P6402-020111309935v4.doc
voluntarily or involuntarily (except as permitted by Beneficiary pursuant to the terms and
conditions set forth in the DDA and Restrictive Agreement), or if Trustor shall fail to make any
payments due under the note secured by this Deed of Trust, or fail to perform any other
obligation under said DDA and Restrictive Agreement, this Deed of Trust or the note secured
hereby, or any other deed of trust encumbering the subject Property, then Beneficiary shall have
the right, at its option, to declare any indebtedness or obligations secured hereby, irrespective of
the maturity date specified in any note evidencing the same, immediately due and payable.
(16) Notwithstanding anything provided herein to the cc
to look solely to the Trustor's interest in the Property encumbered
thereon (or the proceeds thereo� for the satisfaction of any reme
the collection of a judgment (or other judicial process) requi '
Trustor, except where such judgment results from a claim d
misapplication; misappropriation; or wrongful retentio ental i
the Beneficiary agrees
and improvements
Beneficiary, and for
�ent of money by the
onal misrepresentation;
ualty insurance;
condemnation proceeds; or other funds attributable t roperty; the co ion of any act of
deliberate waste with respect to the Property encu d hereby; or the depo any hazardous
or toxic materials on the Property encumbered ; in which ents there sha no such
limitation on the Beneficiary's recourse against th tor.
(17) Any breach or default u the Restrict eement shall be deemed a breach
of this Deed of Trust.
(18) This Deed of Trust is also nde d sha stitute both a Security
Agreement and a"fixture fil' " as define the m rcial Code, the Trustor
being the Debtor and the being t d Pa stor hereby grants Beneficiary
a security interest in a res, all go ich are or are to become fixtures on the
Land, for the purp securing a debtedn d other obligations of Trustor now or
hereafter secured b eed of t. The pro of such collateral are also covered hereby.
This Deed of Trust, as ur co in the real estate records covering the
real prope • • her stor aut eneficiary to execute, deliver, file and record
(as nec i an 'nuation statements covering such property from time to time in
such as Benefici ay r to perfect and continue the perfection of Beneficiary's
secu ' terest with res to su perty, and to reimburse Beneficiary for any costs
incurre ling such fina state nts and any continuation statements. Trustor shall not
create or a the creation y other security interest in such property. Upon the occurrence
of any defau rustor he der, Beneficiary shall have the rights and remedies of a secured
party under the rni mercial Code, as well as all other rights and remedies available at
law or in equity or ed herein, all at Beneficiary's option. Trustor and Beneficiary agree
that the filing of a fin ng statement in the records normally having to do with personal
property shall never be construed as in any way derogating from or impairing this declaration
and the hereby stated intention of the parties hereto that everything used in connection with the
operation or occupancy of such property or the production of income therefrom is and, at all
times and for all purposes and in all proceedings, both legal and equitable, shall be regarded as
real property encumbered by this Deed of Trust and fixture filing, irrespective of whether (a) any
such item is physically attached to the buildings and improvements, (b) serial numbers are used
for the better identification of certain equipment, or (c) any such item is referred to or reflected in
any such financing statement so filed at any time. Such mention in the financing statement is
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P6402-0201\1309935v4.doc
declared to be for the protection of the Beneficiary in the event any court or judge shall at any
time hold that notice of Beneficiary's priority of interest must be filed in the Uniform
Commercial Code records to be effective against a particular class of persons, including, but not
limited to, the federal government and any subdivisions or entities of the federal government.
The undersigned Trustor requests that a copy of any Notice of Default and of any Notice
of Sale hereunder be mailed to him at his address hereinbefore set forth.
HABITAT FOR HUMA
COACHELLA VALL
profit public benefi
By:
Name:
Title: P
By
Na
Title:
TY OF THE
C., a California non -
ration
G-6
P6402-0201 \1309935v4.doc
State of California
County of Riverside
)
) ss.
)
On , 201 l, before me, , a
Notary Public, personally appeared , who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to
the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their signatu s) on the instrument the
person(s), or the entity upon behalf of which the person(s) acted, e d the instrument.
I certify under PENALTY OF PERJURY under the
the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
State of California
County of Riverside
On
Notary Public, pe�
to me on the basis
the within instrum
his/her/their a o
person(s
,a
, who proved
-son(s) whose name(s) is/are subscribed to
she/they executed the same in
;r/their signature(s) on the instrument the
i(s) acted, executed the instrument.
PERJURY under the laws of the State of California that
the
(Seal)
G-7
State of California that
(Seal
P6402-0201 \1309935v4.doc
EXHIBIT A
LEGAL DESCRIPTION
G-8
P6402-0201 \1309935v4.doc
EXHIBIT H
FORM OF PROMISSORY NOTE SECURED BY DEED OF TRUST
PROMISSORY NOTE
SECURED BY DEED OF TRUST
$20,000.00
FOR VALUE RECEIVED, the undersigned Habitat of H
Valley, Inc. ("Maker") hereby promises to pay to the order of
Agency, a public body, corporate and politic ("Holder"), at
deduction or offset, the sum of TWENTY THOUSAND s($ 20,
together with simple interest at the rate of 3% per ann more than
as Maker, then the obligations of the Maker shall b and several.
This Note is secured by that certain D
Agreement of even date herewith executed by Mak
Trust"). In addition, this Note is issued ursuant to an
a Affordable Housing Restriction and eement <
of Humanity of the Coachella Valley, I er (`
concurrently with the Deed of Trust secu thi
The principal
, 2056, or (ii) the
in the Deed of Trust
Agreement) (the "
conditions of any the
to forgive a��
lfst sold tc
ty Date");
Palm Desert, California
February _, 2011
y of the Coachella �
Desert Redevelopment
California, without
0) (the "Note"),
o son is signing this
►ent of Rents curity
t of Holder (the ` Deed of
of the terms and conditions of
aary _, 2011, between Habitat
e Agreement") and recorded
Note s b n� on the later of (i) February
annive f the date o which the Property (as defined
ualifie usehold (as defined in the Restrictive
vided, ho er, if Maker has not breached the terms and
this or the Deed of Trust, then Holder agrees
a , turitv Date.
er may , wi enalty or premium, any amount of the interest, if any, or
pri under this No 'or to ue date hereof. Prepayments shall be credited first against
accru erest, if any, an e bala hall be credited to principal.
Sho efault be m y the undersigned in the performance of any of the covenants or
agreements o aker c ned in the Restrictive Agreement, this Note, or the Deed of Trust,
then, at Holder's ' n ms owing hereunder shall, at once, become due and payable.
Thereafter, interest crue at the maximum legal rate permitted to be charged by non-
exempt lenders under usury laws of the State of California.
This Note and the Deed of Trust by which it is secured shall be governed by and
construed in accordance with the laws of the State of California.
All parties who are obligated to pay any portion of the indebtedness represented by this
Note, whether as principal, surety, guarantor or endorser, hereby waive presentment far payment,
demand, protest, notice of protest and notice of dishonor, and all other notices to which they
might otherwise be entitled, and further waive all defenses based on release of security,
H-1
P6402-0201\1309935v4.doc
extension of time or other indulgence given in respect to payment of this Note, to whomsoever
given, and further waive all defenses, generally except the defense of actual payment of this Note
according to its tenor.
The undersigned hereby covenants and agrees to pay all costs and expenses of collection,
whether by suit or otherwise, at any time or from time to time incurred, including without
limitation attorney's fees and all costs and expenses actually incurred in connection with the
protection or realization of the property secured by the Deed of Trust.
If Maker shall sell, lease, sublease, assign, convey, transfer, ber, mortgage,
hypothecate or alienate the real property (the "Property") encum sy the Deed of Trust, or
any part thereof, or any interest therein, or shall be divested o e in any manner or way,
whether voluntarily or involuntarily, except as expressly p in conformance with
the terms and conditions contained in the Deed of Trust estrictive ement, the
indebtedness evidenced hereby, irrespective of the m date expresse in, at the option
of the Holder, upon demand, shall immediately be due and payable.
The terms of this Note shall be binding up
context may require, of the respective heirs, success
and the Holder.
This note may be subject to Sec
that the Holder of this Note shall give w
prescribed information at lea 60 (sixty)
payment is due.
If a law whi
so that the interest
exceeds the permitted
amount nec o red
already
make
to t
d inure benefit, as th se or
and assigns of the undersigned
Civil Code, which provides
successor in interest, of
before any balloon
ote and h sets maximum loan charges is interpreted
s collectes to be collected in connection with this Note
t or loan charge shall be reduced by the
erest o ge to the permitted limit; and (b) any sums
ermitted limits will be refunded. The Holder may choose to
*ncipal owed under this Note or by making a direct payment
ipal, the reduction will be treated as a partial prepayment.
P6402-0201 \1309935v4.doc
H-2
Time is of the essence with respect to each and every provision hereof. If any provision
hereof is found to be invalid or unenforceable by a court of coinpetent jurisdiction, the invalidity
thereof shall not affect the enforceability of the remaining provisions of this Note.
HABITAT FOR HUMANITY OF THE
COACHELLA VALLEY, INC., a California non-
profit public benefit corporation
R..
H-3
P6402-0201\1309935v4.doc
EXHIBIT I
FORM OF NOTICE OF AFFORDABILITY RESTRICTIONS ON
TRANSFER OF PROPERTY
Recording Requested By, and
When Recorded, Mail To:
Palm Desert Redevelopment Agency
73-510 Fred Waring Drive
Palm Desert, CA 92260
Attn: Housing Division
Free Recording Requested Pursuant To Gove
APN(s):
Space Above This
NOTICE OF AFF
TRAN
Important notice
companies, and oth
property describ
with respect to t
"Property") which
These re
less t
of
Cali
Thi
OF PROPE
Palm Desert Re
t Code Sec 7383
or Recor er's Use-
LITY RICTIONS ON
OPE
ers, pu ers, escrow and title
gardi drdable h sing restrictions on the real
Restn ns are concurrently being recorded
bed beli referred to in this Notice as the
n which the Property may be sold.
he sales f the Property to an amount which is
of the Property. These restrictions limit the income
re permitted to purchase the Property pursuant to
Section 33334.3(0(1).
FORDABILITY RESTRICTIONS ON TRANSFER
ice"), is made this day of , 2011, by the
ent Agency ("Agency"), whose address is 73-510 Fred
Waring Drive, Pal lesert, CA and HABITAT FOR HUMANITY OF
COACHELLA VALLEY, INC., a California non-profit, public benefit corporation
("Owner") whose address is , Palm Desert, California, in connection
with that certain Affordable Housing Restriction and Lien Agreement,
("Restrictive Agreement") between Owner and the Agency,
I-1
P6402-0201 \1309935v4.doc
RECITALS
A. Owner is the owner of that certain real property described in
Exhibit A, in the City of Palm Desert, State of California bearing Assessor's Parcel
Number(s) (collectively, the "Property").
B. Owner is constructing a residential dwelling unit on the Property.
C. Owner and Agency have entered into the Res 've Agreement
which is being recorded substantially concurrently here n the official records
of the County Recorder of Riverside County ("Coun der").
D. Capitalized terms used herein but
set forth as described in the Restrictive A�re�t
TERMS
1. Reauirement for Recorded Noti
recorded pursuant to California and 5
2. A�reement.
the County Recorder su�
Restrictive A�reeme
This Not is
�
3. Re �
conditions thereo ,
Property to cupa
House
Affo e Housi
as t le and prir
term is the 1
date on the :
ve the meanings
CE
�tice is being executed and
Section 33334.3(�(3)(B).
official records of
�ation of the
of Aff abilitv rictions. Subject to the terms and
Zestr' reem restricts the occupancy of the
a old, being a Person, Family or
ow Income at is a First-Time Homebuyer, at an
st ch terms are defined in the Restrictive Agreement)
esi of the Owner (and subsequent owners) for a
45 y rs from the recording of this document, or the
: is first sold to a Qualified Household.
I-2
P6402-0201 \1309935v4. doc
IN WITNESS WHEREOF, this Notice has been executed as of the day and
year first above written.
"AGENCY"
"OWNER:
PALM DESERT REDEVELOPMENT
AGENCY, public body, corporate and
politic
By:
airman
HABITAT F ANITY OF THE
COACHEL A INC., a
Califo n-profit p benefit
corp
By.
Name.
Title: Pr
P6402-0201 \1309935v4.doc
1-3
State of California )
) SS.
County of Riverside )
On , 2011 before me, , a Notary
Public, personally appeared , who proved to me on
the basis of satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to at he/she/they
executed the same in his/her/their authorized capacity(ie that by his/her/their
signature(s) on the instrument the person(s), or the en ' on behalf of which the
person(s) acted, executed the instrument.
I certify under PENALTY OF PER
California that the foregoing paragraph is
WITNESS my hand and official
State of California
State of
�O I 'e, , a Notary
, who proved to me on
e to be the person(s) whose name(s) is/are
z t and acknowledged to me that he/she/they
hei authorized capacity(ies), and that by his/her/their
: the person(s), or the entity upon behalf of which the
instrument.
I certify un�NALTY OF PERJURY under the laws of the State of
California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal. (Seal)
Signature
I-4
P6402-0201\1309935v4.doc
EXHIBIT A
That certain real Property situated in the City of Palm Desert, County of Riverside,
State of California, described as follows:
1-5
P6402-0201 \1309935v4.doc
EXHIBIT J
PROPERTY DOCUMENTS
J-1
P6402-0201 \1309935v4.doc
EXHIBIT K
FORM OF CERTIFICATE OF COMPLETION
RECORDING REQUESTED BY:
AND WHEN RECORDED RETURN TO:
Palm Desert Redevelopment Agency
73-510 Fred Waring Drive
Palm Desert, California 92260
Attn: Housing Division
[The undersigned declares that this Certificate of Comp]
pursuant to California Government Code Section 27383
CERTIFICATE OF
This Certificate of Completion is given
the following matters:
A. The PALM DESERT
and politic (the "Agency") and HABI'I'�
VALLEY, INC., a California non-profit
into a certain Disposition and D
"AgreemenY'), which Agr
the Developer with a C ate
Improvements (as d
attached hereto an
be in such form as to
B
compl f the c
The A
satisfact erforrr
NO , R
l. As
construction of the Ir.
;d in the
�rated h
it it tai
day
Recording Fees
TION
20_,
to
,ENCY, a public body corporate
THE COACHELLA
a the "Developer") entered
as o bruary , 2011 (the
�f, that the Agency shall furnish
completion of the
ement) the real property described in Exhibit A
by this r ence (the "Property"), which certificate shall
�in th corder's Office of Riverside County; and
Completion s be conclusive determination of satisfactory
�nprovements required with respect to the Property; and
that the construction of the Improvements has been
party to this instrument hereby provides as follows:
the Agreement, the Agency does hereby certify that the
;nts on the Property has been satisfactorily performed and
completed as required by the Agreement.
2. This Certificate shall not constitute evidence of compliance with or satisfaction of
any obligation of the Developer to any holder of a mortgage, or deed of trust or any insurer of a
mortgage, or deed of trust securing money loaned to finance the improveinents or any part
thereof, nor does it constitute evidence of payment of any promissory note or performance of any
deed of trust provided by the Developer to the Agency under the Agreement or otherwise.
K-1
P6402-0201 \1309935v4.doc
IN WITNESS WHEREOF, the Agency has entered into this Certificate of Completion as
of the day and year first above written.
PALM DESERT REDEVELOPMENT AGENCY,
a public body, corporate and politic
By:
Name:
Title:
ATTEST:
Secretary
K-2
P6402-0201 \1309935v4.doc
State of California )
) SS.
County of Riverside )
On , 2011 before me, , a Notary Public, personally
appeared , who proved to me on the basis of satisfactory evidence
to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged
to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by
his/her/their signature(s) on the instrument the person(s), or the entity,�on behalf of which the
person(s) acted, executed the instrument. J�'
I certify under PENALTY OF PERJURY under the
the foregoing paragraph is true and correct.
WITNESS myhand and official seal.(Seal)
K-3
State of California that
P6402-0201\1309935v4.doc
EXHIBIT A
LEGAL DESCRIPTION OF THE PROPERTY
K-4
P6402-0201 \1309935v4.doc
lit Habitat for Humanity
P.O. Box 11738 • Palm Desert, CA 92255 • (760) 770-3723 • www.habitatcv.org
John M. Wohlmuth
City Manager
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, Ca. 92260
RE: Request for Lot Donation
Dear Mr. Wohlmuth,
As you are aware, Habitat for Humanity of the Coachella Valley and the City of Palm Desert
have had a long and successful relationship throughout the years. Habitat has built nine homes
in your wonderful city thanks to your support and generosity. Our partnership has helped realize
the vision of home ownership for families who felt that owning a home was an impossible dream
for them. Habitat is thankful to the City of Palm Desert for making their hopes come true.
We are once again humbly requesting your support and asking for the donation of 2 vacant lots
owned by the Redevelopment Agency.
Habitat is prepared to enter into an agreement with the City which will provide for the necessary
covenants as required by redevelopment law. In partnership with the College of the Desert, we
are prepared to begin construction of at least one of the tots in the first quarter of 2011.
We will be happy to appear before the City Council to make this request in person at a public
meeting of your choice. Again, thank you most sincerely for your years of support and we look
forward to entering into another successful partnership with the City of Palm Desert.
Sincerely,
Fred Bell
Managing Director
Habitat for Humanity of the Coachella Valley
Cc: Janet Moore, Director of Housing
SE P 3 0 2010
PALM DESERT RDA
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PALM DESERT REDEVELOPMENT AGENCY
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that a public hearing will be held before the
Palm Desert Redevelopment Agency (the "Agency") pursuant to Health and
Safety Code Sections 33433(c) and 33431 concerning the proposed conveyance
of two single-family residential lots owned by the Agency, located on San Benito
Circle in the City of Palm Desert, California and described as APN 627-092-050
and APN 627-092-006, by the Agency to Habitat for Humanity of the Coachella
Valley, Inc. ("Habitat") for the purpose of constructing two single-family dwellings
thereon to be made available for sale to two qualified households of low-income
at an affordable housing cost and the approval of a Disposition and Development
Agreement between the Agency and Habitat in connection with such
conveyance.
Said PUBLIC HEARING will be held on Thursday, February 24, 2011,
before the Agency at 4:00 p.m. in the Council Chamber in the Palm Desert City
Hall, 73-510 Fred Waring Drive, Palm Desert, Califomia, at which time and place
all interested persons are invited to attend and be heard. Written comments
concerning all items covered by this public hearing notice shall be accepted up to
the date of the hearing. Information pertaining to the proposed conveyance is
available for review in the Agency office at the above address between the hours
of 8:00 a.m. and 5:00 p.m. Monday through Friday (as of the date first published).
If you challenge the proposed actions in court, you may be limited to raising only
those issues you or someone else raised at the public hearing described in this
notice, or in written correspondence delivered to the Agency at, or prior to, the
public hearing.
In compliance with the Americans with Disabilities Act, if you need special
assistance to participate in a Palm Desert City Council or Agency meeting or
other services offered by the City of Palm Desert, please contact the City Clerk's
Office at (760) 346-0611. Notification at least 48 hours prior to the meeting or
time when services are needed will assist the City and Agency staff in assuring
that reasonable arrangements can be made to provide accessibility to the
meeting or service.
Signed this day, the 8th day of February, 2011.
RA H LLE D. KITA-SSEN, SECRETARY
PALM DESERT REDEVELOPMENT AGENCY
onenia enel GrallinemiTomntweent Inlerrul Filoolf,ntrant Mt 114,41141 InAlAtIlMen R•olln ATnno7.nnR A97,07.(1,1 Orld w.bs nnnelinn ihtle. Medina /./a1.11 nr11^PA4VO-nrin1111941 7R0rinr
Martinez, Gloria
From: MoeNer, Char{ene [CMOEL.LER@pafmspri.gannett.com}
Sent: Tuesday, February 08, 2011 11:43 AM
To: Martinez, Gloria
Subject: RE: Legal Notice - Public Hearing 02/24/2011 San Benito Donation to Habitat
Ad received ��Zd wi]1 puUlish on date(s) requestec�.
Charlene Moeiler � Media Sa1es Legai Notice Representative
The Desert Sun Media Group
750 N. Gene Autry Trail, Palm Springs, CA 92262
t 760.778.457$ � f 760.778.4731
IeaalsCc�thedesertsun.com � dqwlec�als tni.thedesertsun.com
The Goachella Valley's #1 Source in News & Advertising'
�� t� �� na}ci�•.���i.���,ni � t�r t[l��i I�;irrl�i,u�,
From: yn�artinez«r;c:ityof�3�ln.i�e���r#,,�rr� [m�iitt�:yr����rtin�z�ti>r_iiyuf�»dt��c�E�sei�t�ar�.�
Sent: Tuesday, February 08, 2011 11:39 AM
To: tds-legals
Ce: rYtiioredo;a�cityaf��ln�ciesc�rt,ar�; €�lc�nr�tc��cityc,t��»tmdese�t.or9; j.gactixales�.�itcityofpalmdesert.o�9
Subject: l.egal Notice - Public Hearing 02%24/2011 San Benito Donatian to Habitat
PLEASE PUBLISH THE FOLLOWING:
NOTICE OF PUBLIC HEARlNG
Cor►cerning the Proposed Canveyance af two single-famity residentia4 tots owned by the Agency, located on
San Benito Circle in the City of Patm Desert, Califarnia and described as APN 627-092-050 and APN 627-092-
Od6.
TW ICE f N THE DESERT SUN
Thursday, February 10, 2011
Thursday, February 17, 2011
If you have any questians or require additional information, please give me a call.
Thank you, Charlene!
?'Yl, �o�e:a ?'�?a�"-i�,�
Records Technician
City of Palm Desert
73-51Q Fred Waring Drive
Pa{m Desert, Caiifornia 92260
(760) 346-0611 Ext. 354