HomeMy WebLinkAbout2000-053 Resale Restr-OScannell CITY OF ASHLAND AFFORDABLE HOUSING
RESALE RESTRICTION AGREEMENT (SDCs ONLY)
Owner:
Patricia M. O'Scannell
Property Address:
51 Crocker Rd.
AShland, OR. 97520
Agreement date: ,~-
Chautauqua
Name of development:Trace
Purchase Price: $121,300
Date of Purchase:
Recording Requested by:
When Recorded Return to:
City of Ashland
Affordable Housing Coordinator, City of Ashland,
20 E. Main Street, Ashland, Oregon 97520
Agreement entered into on the date specified above by the City of Ashland ("City") and
the Owner (also referred to as "You") named above regarding certain improved real
property located at the property address specified above ("the home").
RECITALS:
A. The home referred to in this agreement is described more fully on the
attached Exhibit A.
B. The home is being made available for purchase by an eligible
moderate-income purchaser pursuant to the City's Affordable Housing Program
("Program"). The Owner is an eligible moderate-income purchaser under the Program
and intends to live in the home as an owner-occupant
C. The Owner recognizes that in purchasing the home, the Owner is receiving
the benefits of the City's assistance to the developer of the property upon which the
home is located, and that without such assistance the Owner would not have been able
to purchase the home. The Owner understands that signing this Agreement and
complying with its terms are necessary to permit the City to fulfill its affordable housing
goals.
City and Owner agree:
1. Occupancy Requirement. You agree and acknowledge that the City's acceptance
of your participation in the Program and purchase of the home is conditioned upon your
continuing occupancy of the home. For purposes of this agreement, continuing
occupancy includes renting of the home by the Owner to others if you have established
a temporary residence outside Jackson County, Oregon. Any such rental, however,
shall not exceed 24 months in any five year period.
2. Deferment of Systems Development Charges (SDCs). City will defer the payment
of SDCs owed by you and due on the home. You will execute a promissory note
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