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Home My WebLink About2006-021 Resale Restr - Neuman Properties When Recorded Return Original to: Barbara Christensen, City Recorder 20 East Main Street, Ashland, Oregon 97520 Jackson County Official Records 2006-012893 ~~~~ Stn=6 HELMANC~3/14/2006 03:29:35 PM $40.00 $5.00 $11.00 Total:$56.00 1111111111111111111 111111 01180536200600128930080088 I, Kathleen S. Beckett. County Clerk for Jackson County, Oregon, certify that the instrument identified herein was recorded in the Clerk records. Kathleen S. Beckett - County Clerk CITY OF ASHLAND AFFORDABLE HOUSING RESALE RESTRICTION COVENANT Owner: Neuman Properties & Property Address: 928 Glendale Avenue, Development, LLC Units 5 & 6 Ashland, OR 97520 Agreement date!: Maximum Purchase Price: $146,744.00 Date of Purchase: Name of development: Glendale Condominium Covenant Agreenlent ("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 ("Home"). RECITALS: A. The Horne referred to in this Agreement is described more fully on the attached Exhibit A. B. Sale or rental of the Home is subject to certain restrictions which require that the Home be sold to an eligible moderate-income household, or rented to an eligible low-income household, pursuant to the City's Affordable Housing Program ("Program"). The Owner shall transfer or rent the Home only to an eligible household where the purchaser or rentBr intends to live, and actually does live, in the Home as a primary residence. C. The resale or rental restrictions were imposed on this Home when the Home was converted from one of seven apartment units into a condominium. Two of the condominium units, each refered to as the "Home", are to remain affordable in accordance with the requirements of Chapter 18.24.030.J of the Ashland Municipal Code. The Owner understands that signing this Agreement and complying with its terms are necessary to permit the City to fulfill its affordable housing goals. This Agreement fulfills condition 7 of Planning Action 2005-01055 that required the applicant in that planning action to sign an agreement prepared by the City stipulating that two of the units, as identified in the condominium bylaws, comply with the Program established by the City and for purchase or rental housing for a period of not less than 20 years. The Agreement is to be recorded in the deed records. PAGE i-Glendale Condominium RESALE RESTRICTION COVENANT 69352-1 POX 1357568vl City and Owner agree: 1. OccuDancv Reauirement. You agree and acknowledge that the City's acceptance of your participation in the Program and sale of the Home is conditioned upon continuing occupancy of the Home by qualified moderate-income households. Rental of the Home is conditioned upon continued occupancy of the Home by qualified low- income households. For purposes of this Agreement, continuing occupancy includes renting of the Honne by the Owner to others provided the renting household is qualified under the City's affordable rental program income limits and the rental costs do not exceed the limits established under the rental program. 2. Transfer of Home. Except as provided in paragraph 3, you agree to "transfer" the Home consistent lwith thiis Agreement and the provisions of Ashland City Council Resolution 93-39 as in effect on the date this covenant is signed. 2.1. Definition of transfer. To "transfer" the Home means any sale, assignment or transfer, whether voluntary or involuntary, of any interest in the Home, including, but not limited to, a fee simple interest, a co-tenancy interest, a survivorship interE~st, a life estate, a leasehold interest, any right to possession under a rental agreement, or an interest evidenced by a mortgage, trust deed or land sale contract in which possession of the Home is transferred and you retain title. 2.2. AssurTlotion reauirement. This Agreement shall apply to and bind any purchaser or transferee in an exempt or qualified transfer (see paragraph 3). Such purchaser or transferee (other than a renting household qualified under the City's affordable rental program) shall assume your duties and obligations under this Agreement in writing, or sign an agreement substantially similar to this Agreement, prior jto the transfer of the Home. If the purchaser or transferee fails to assume this Agreement or execute and deliver a substantially similar agreement to the City prior to the sale or transfer, then the sale or transfer shall be considered void and the City may enforce any of its remedies as contained in section 3.2.7 below. Recording of the Agreement in the official records of Jackson County, Oregon, shall be a condition of the City's approval of the proposed transfer. You agree to pay a reasonable assumption fee to the City and to reimburse the City for its expenses incurred in administering its rights and obligations in connection with any transfer under this Agreement. Upon the close of any transfer, you agree to provide the City with copies of the recorded trust deed, final sales contract, settlement statement, escrow instructions, and any other documents prepared or used in connection with the transaction. 3. ExemDt and Qualified Transfers. Notwithstanding paragraph 2 above, if a transfer is either an "exempt transfer" or a "qualified transfer" as provided in this paragraph, PAGE 2-Glendale Condominium RESALE RESTRICTIOhl CO\lENAhlT 69352-1 POX 1357568vl ~ ,..---- such transfer shall not be considered a violation of this Agreement. 3.1. Exemot transfer. An "exempt transfer" is: 3.1. '1. A transfer by the Owner of a home being rented to a low-income household under the Program to a transferee who will continue to rent the Home under the Prograrn 3.1.2. A taking of title by a surviving joint tenant; a court-ordered transfer of title to a spouse as part of a dissolution proceeding; or an acquisition of title, or of any interest in the title, in conjunction with marriage. If title is taken as described in this paragraph, and the Home is being rented to a low-income household under the Program, the transfer is only exempt if the transferee will continue to rent the Home under the Program. 3.1.3. A refinancing of the existing purchase money first mortgage or trust deed encul11bering the Home by securing a new first mortgage or trust deed on the Home in an alllount not to exceed the then maximum purchase price established by R€!solution 93-39 plus applicable loan fees and closing costs. An exempt transfer also includes a home equity loan secured by a third mortgage or trust deed on the Home, which shall be subordinate to this note and the trust deed securing it, provided the cumulative total of all mortgages upon the Home do not exceed the then present maximum purchase price established by Resolution 93-39. 3.2. Qualified transfer. A "qualified transfer" is a transfer to an eligible buyer under the Program for a sales price that does not exceed the affordable housing purchase~ price as determined by Ashland City Council Resolution number 93--39 as in effect on the date this covenant is signed. A qualified transfer shall include the rental of the Home to an eligible household as determined by Ashland City Council Resolution number 93-39 as in effect on the date this covenant is signed. At least 30 days prior to the transfer, you shall provide the following information to the City: 3.2. '1. The name, address and telephone number of the proposed buyer or renter(s); 3.2.2. A financial statement signed by the proposed buyer and his. or her spouse, if any, in a form acceptable to the City and accompanied by such supporting docurrlentation as requested by the City. Use of the property, as a rental, requires alii members of the rental household to provide income verification docurnentation to the City to qualify as an eligible renter. The financial information shall be used by the City to determine the income eligibility of the proposed buyer. To be an eligible buyer under the Program, a buyer shall certify that he or she will occupy the Home as his or her principal Home. The buyer and all oth€!r members of the buyer's household shall meet the income PAGE 3-Glendale Condominium RESALE RESTRICTION COVENANT 69352-1 PDX 1357568vl 3~ guidelines established from time to time by the City for participation in its affordable housing program. 3.2.:3. A copy of the proposed sales agreement or rental agreement and all related documents, which set forth the terms of the transfer; 3.2.4. A written certification signed by the proposed buyer or renter(s) and you in a form acceptable to the City stating that: 3.2.S. The transfer shall be closed in accordance with the terms of the sales agreement lOr rental agreement and other documents submitted and approved by the City; 3.2.13. Neither the proposed buyer nor any other party has paid or will pay to you or for your benefit, and you have not received nor will you receive from the proposed buyer, renter(s), or any other party, either directly or indirectly or for your benefit, money or any other consideration in addition to what is set forth in the sales agreement and related documents; 3.2.~7. In the event that a transfer is made in violation of the terms of this Agreement, or that false or misleading statements are made in any documents or certifications submitted to the City, the City shall have the right to file a legal action to force thE~ parties to terminate or rescind the sales agreement, or rental agreement, or to declare the sale void notwithstanding the fact that the sale may have closed and become final as between the buyer and you. 4. You Must Notify City of Transfer. If you desire to transfer the Home, you are required to notify City in writing to that effect. If the transfer is a qualified transfer, the notice and information provided must comply with paragraph 3.2. For any other transfer the notice shall state the street address of the Home, your full name or names, the address and telephone number at which you are to be contacted if not at the Home. The notice shall be given at least 30 days prior to the transfer and shall be delivered as provided in paragraph 9. 5. Priority and Effectiveness of this Aareement. This Agreement, or a memorandum of this Agreement, shall be filed for recordation in the County Clerk deed records, Jackson County, ()regon prior to any sale, conveyance, transfer or other disposition of the Home, or of any estate or interest in the Home, by you. The Agreement shall have priority over any subsequent sale, conveyance, transfer, lease or other disposition or encumbrance of the Home, or of any estate or interest in the Home. 6. Term of Aareement. The restrictions contained in this Agreement shall continue for a period of 20 years fronl the date of this Agreement. 7. Survival of Aareement UDon Transfer. The City's rights under this Agreement shall survive any transfer of the Home by you. PAGE 4-Glendale Condomlfllum RESALE RESTRICTION COVENA!\IT 69352-1 ~~ PDX 1357568vl 8. Notices. Except as otherwise specified in this Agreement, all notices required to be sent pursuant to this Agreement shall be made by personal delivery or by deposit in the United States mail, first class postage prepaid, and shall be deemed to have been delivered and received on the date of personal delivery or five days after deposit in the mail, if sent to the following addresses: City: Affordable Housing Coordinator City of Ashland 20 E. Main Street Ashland, Oregon 97520 Owner: Neuman Properties & Development 953, Emigrant Creek Rd. Ashland, Oregon 97520 The addresses above may be changed by notice given pursuant to this paragraph. 9. Waiver. No condition of this Agreement or of the note or trust deed shall be deemed waived unless expressly waived in writing by City. 10. Amendment This Agreement may be amended upon mutual agreement in writing signed by the City and the Owner or the Owner's successor in interest. 11. Default. A default shall occur if you fail to perform or observe any of the provisions of this Agreement:. If any default occurs, City may, at its option, require you to rescind any sale or rental:! or the City may seek specific performance of this Agreement by suit in equity. The rerrledies provided above shall be nonexclusive and in addition to any other remedies provided by law. 12. Bindina Effect. Throughout this Agreement, the terms "Owner" and "you" refer individually and collectively to all persons who sign this Agreement and all persons signing this Agreement shall be jointly and severally liable for its obligations. 13. Attornevs' fees. If either party is required to initiate legal proceedings to enforce its rights under this Agreement, the prevailing party in such action shall be entitled to an award of reasonable attorneys' fees and costs in addition to any other recovery under this Agreement. (Signatures on following page) PAGE 5-Glendale Condominium RESALE RESTRICTION COVENANT 69352-1 PDX 1357568vl 5~ .......\....::..::::n. -.....--=- 'P Yo i- ,!-~j. '-.. ;<,',',~-. 0'\ ~- ~ ~) ~ FEB 1 4 2.006 City l.:..shland o Field l_J Office 0 County Date: ~?ltJb - State of Oregon County of Jackson This instrument was acknowledged before me on J..' 1 , 2006, by D OVl ') tV &1-\ ~ 41u 1iIl'M'i- V114 Al4J liU 5 VVl G f11 ~ >"'-;""S'S<O~~;~:';S:,.$':S >. . (jFHCIAL SEAL ,J AUSTAD NOTt~i~'i PUBLIC-OREGON ":(:",iiM\SS!ON NO. 368759 MY COMMI~">(,;'; EX?IRES ,JUNE 21, 2007 ~ ~'~;:;..;..y;;~'~-?~~. c~ fJA Gino Grimaldi, City Administrator State of Oregon County of Jackson Public for Oregon mission expires: t'21.tJ1 nRb'!' ~h0" I ,/} This instrument was acknowledged before me on+ ~i,--, '-~ ,;2... /-./ - II J_ A' . . by (:7 (J"'!.,'.) (~r/ Y1-"Lc,,-L{{~c as <-I rc; d. r7t()U.':>(t ,,~t-r.:V Ashland! Oregon. . OFFICIAL SEAL : ; SONJA N ,t.\KERMAN ~. j NOTARY PUBLIC ~ OREGON ....... ....... COMMISSION NO. 355829 . MY COMMISSION EXPIRES APRIL 6. 2006 ",,;;:k~::o;"':~~,,:.~',.,' if. .!'>.....~i.'-..;.4... i.6'r.:"':" ~ ,2006, of the City of j. - J t /t. .' 1/' ' / / /. ,. -:z::. /)/ L- J it.--- ?i, ~.~ )'-{<: VA"-r~ Notary Ru Hc for Oregon / My comm,'ssion expires: .:.j - & -_. 0& ~/ PI JX I ii7ittXVL '- LAND SURVEYING, LLC """t;;.',',M" ,',. '..~. " + ../"~ ,. ,",' ",., .".' " ./ '-"-".' ,'" '. ';"'.' -". "" ,,,.,,,..,,,,;,;;'.',,,"=,,,-,.,,,,,,. , .., " ",-.",., . " '"'" "",_" ;.-.;, EXHIBIT "A" LEGAL DESCRIPTION UNIT 940, GLENDALE CONDOMINIUM ASSESSORS ~1AP NO. 39 IE 14 BC, Tax Lot 6500 A Condominium Unit within a portion of that tract of land described within Instrument No. 2005-013383 of the Official Records of Jackson County, Oregon, lying situate within the Northwest Quarter of Section 14, within Township 39 South, Range 1 East of the Willamette Meridian in Jackson County, Oregon, being more particularly described and bounded as follows, to wit; Unit 940 of Glendale Condominium, according to the official plat thereof, filed on /n/1'llcA- /~t ,2006 in Volume..J.L, Page~, of the Plat Records of Jackson County, Oregon. Together with that percentage of the Limited and General Common Elements of Glendale Condominium, appurtenant to said Unit, as described in the Declaration recorde:d on /'J?t9-rc.h l i ,2006 in Instrument No. 2006- z.~ . 1/~"t1 of the Official Records of said County. The land included in such property is described in the Declaration and such description is incorporated herein by reference. Prepared by: Shawn Kampmann Professional Land Surveyor r->."""',---""",....""""'--"',.,..,.."""~~". I y r., c~ [-; 'r:~ ^ t. c:~" n ~ [1 ?' r~' :'," ::, . '~: ,~,,,~ t:~ I' ! ' , ~ , . Polaris Land Surveying LLC P.O. Box 459 Ashland, Oregon 97520 (541) 482-5009 , " ~~'. Renewal Date: 6/30/07 Date: February 15,2006 C:\surveys\306-05\Unit: 940 LegaLdoc P. O. Box 459, ASihland, Oregon 97520 Phone: (541) 482-5009 Fax: (541) 488-0797 Mobile: (541) 601-:3000 www.polarlssurvey.com 7-- '- -- '" LAND SURVEYING, LLC + v.... ,~, ,,,.' ';!;'ie, """","" .","'.'"'''';''' --,'~'.. ,.. """,,,,,,,-,,,,,,,,,,,' . ""',.,..... "''''''',", ""~, . ,.c.;.... ""'''i'",;, ,;" """''';' . EXHIBIT" A" LEGAL DESCRIPTION UNIT 942, GLENDALE CONDOMINIUM ASSESSORS ~1AP NO. 39 IE 14 BC, Tax Lot 6500 A Condominiurn Unit within a portion of that tract of land described within Instrument No. 2005-013383 of the Official Records of Jackson County, Oregon, lying situate within the Northwest Quarter of Section 14, within Township 39 South, Range 1 East of the Willamette Meridian in Jackson County, Oregon, being more particularly described and bounded as follows, to wit; Unit 942 of Glendale Condominium, according to the official plat thereof, filed on /YlA-~ l'-l ,2006 in Volume '3 "2-, Page 2., , of the Plat Records of Jackson County, Oregon. Together with that percentage of the Limited and General Common Elements of Glendale Condominium, appurtenant to said Unit, as described in the Declaration recorded on /1I'Vr1"~ I "I~ , 2006 in Instrument No. 2006- o I '-, 'f b of the Official Records of said County. The land included in such property is described in the Declaration and such description is incorporated herein by reference. Prepared by: Polaris Land Surveying LLC P.O. Box 459 Ashland, Oregon 97520 (541) 482-5009 (-';r~. ';J~~mJ~ L <, n : . . .. "~ .. ,,',:._- "', ~.:~~~~ j L-'-;,.........-2. '. ~.._L____C__ " 5J~ .= .' rJ ~ :~:;.~.~"~....".:,,~:J Shawn Kampmann Professional Land SUDreyor Renewal Date: 6/30/07 Date: February 15, 2006 C:\surveys\306-05\Unit 942 Lega1.doc P. O. Box 459, Al;hfand, Oregon 97520 Phone: (541) 482-5009 Fax: (541) 488-0797 Mobfle: (541) 601-:3000 www.pofarlssurvey.com y~