LAND USE RESTRICTION - OR BOOK 11928 PAGE 2470
\11\ K~ d
/ ,~ \V I'~~ SCOI1 And Return To:
t1) . ~ Carmen Canelas, elA
Museum Tower, Suite 2200
150 ~t Flagler Street
MiamI, Florida 33130
This document prepared by (and
after rec01:c1i~p,.~ .0):
Pamela Akin
City Attorney
P.O. Box 4748
Clearwater, FL 33758-4748
KARLEEN F. DE BLAKER, CLERK OF COURT
PItlLLAS COUNTY, FLORIDA
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8C192259 04-04-2002 16:35:09 TNB
51 AGR-ffiEENWOOD APARTMENTS LLC
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1#:02126878 BK:11928 SPG:2470 EPG:2475
RECORDING 006 PAGES 1 $28.50
OFFICIAl ClF1ES 5 $6.00
CERT1FCATION 6 $i.OO
Owner's
Name and Address:
TOT{l:
LAND USE RESTRICTION AGREEl\fENT DECK AMT. ~=:
BY ________ DEPUTY CLERK
$35.50
$35.50
$.00
Greenwood Apartments, LLC
c/o Banc of America Community Development
Corporation
400 N. Ashley Dr.
Tampa, Florida 33601
02- 126878 APR- 4-2002 4: 35PM
PINELLAS CO BK 11928 PG 2470
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CERT
OR219 __ Location of Property:
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Folio Numbers:
1001 N. Greenwood Avenue
Clearwater, Florida 33755
10/29/15/00000/240/0200
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FEES
MTF
REV
TOTAL V- THIS LAND USE RESTRICTION AGREEMENT (this "LURA") made and entered into
. this 1 st day of April, 2002, by and between Greenwood Apartments, LLC, a Florida
Limited Liability Company, whose business address is 400 N. Ashley St., 2nd Fl, Tampa,
Florida 33602 herein referred to as "GREENWOOD" and the City of Clearwater,
hereinafter referred to as "CITY", Attention: Housing Division, 112 S. Osceola Ave., 1st
Name ofProiect:
Greenwood Apartments
Fl, Clearwater, Florida 33758.
WITNESSETH:
WHEREAS, GREENWOOD will receive funding from the CITY's State Housing
Initiatives Partnership (SHIP) Program for the rehabilitation of a one hundred and ninety
two unit multifamily rental community, benefiting very-low and low income persons; and
WHEREAS, the rehabilitation of multifamily dwellings is an allowable activity
under the State of Florida SHIP program which is governed by Chapter 420.9071 - .9079
Florida Statutes (F.S.) and Rule 67-37 Florida Administrative Code (F.A.C.), and
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PINELLAS COUNTY FLA.
OFF.REC.8K 11928 PG 2471
WHEREAS, GREENWOOD will rehabilitate a 192 unit housing complex known
as the Greenwood Apartments for the benefit of very-low and low income persons; and
WHEREAS, as a condition of receipt of the SHIP funds, GREENWOOD agrees
to the restricted use of this property, as further described in Exhibit "A" attached; and
WHEREAS, this LURA shall be properly filed and recorded by CITY within the
official records of Pinellas County and shall constitute a restriction upon the use of the
property subject to and in accordance with the terms contained herein.
NOW THEREFORE, in consideration of providing the SHIP funding by the
CITY to GREENWOOD, and acknowledging that compliance with this Agreement is
necessary pursuant to FHFC regulations, the parties hereto agree as follows:
I. The property subject to this Land Use Restriction Agreement, as further described
in Exhibit A attached hereto and incorporated by reference, is a 192 unit multi-
family rental property known as Greenwood Apartments.
II. During the period of affordability as defined, 85% of the units which are part of
the project shall be rented or held available for rental on a continuous basis for
persons or families who, at the commencement of occupancy by each tenant of
such unit shall have annual incomes which do not exceed 60 percent of the
median family income for the area, as determined by the Department of Housing
and Urban Development ("HUD") and distributed annually by the Florida
Housing Finance Corporation as the tax credit allocating agency for the State
("FHFC") with adjustments for smaller and larger families. In addition, of the
85% of units mentioned above, 10% of the those units shall be rented or held
available for rental on a continuous basis for persons or families who, at the
commencement of occupancy by each tenant of such unit shall have annual
incomes which do not exceed 35 % of the median family income for the area, as
determined by the Department of Housing and Urban Development ("HUD") and
distributed annually by the FHFC with adjustments for smaller and larger
families.
III. The rents on the SHIP Assisted Units must remain affordable and must not be
above the maximum allowable rents per income group and unit type as published
by HUD and distributed annually by FHFC annually. Such rents shall be the
allowable SHIP rents and the CITY shall provide such allowable SHIP rents to
GREENWOOD annually.
IV. The income of the persons or families who will occupy the SHIP Assisted Units
will be verified by GREENWOOD by obtaining third party verification of current
income for each person who will occupy the rental unit or an income verification
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PINELLRS COUNTY FLA.
OFF.REC.8K 11928 PG 2472
and verification of assets as applicable for each person who will occupy the rental
unit. In the event that neither of the above methods are suitable, GREENWOOD
may use other methods acceptable to CITY to verify income.
V. While occupying the rental unit, a very-low-income household's annual income
may increase to an amount not to exceed 140 percent of 35 percent of the area's
median income adjusted for family size While occupying the rental unit, a low-
income household's annual income may increase to an amount not to exceed 140
percent of 60 percent of the area's median income adjusted for family size.
VI. GREENWOOD hereby agrees that the property will remain in use as a rental
property benefiting very low and low income persons and households for a period
of not less than eighteen (18) years from the date of issuance of the final
certificate of occupancy the "project period."
VII. This LURA shall remain in full force and effect until the expiration of the project
period, provided, however that this LURA shall automatically terminate in the
event of involuntary noncompliance with the provisions of this LURA caused by
fire or other casualty, seizure, requisition, foreclosure or transfer by deed in lieu
of foreclosure, change in a federal law or an action of a federal agency that
prevents the enforcement of the provisions in this Land Use Restriction
Agreement.
VIII. This LURA shall be deemed as covenants running with the land and shall pass
and be binding upon any assigns and successors and all subsequent owners of the
land or the project or any interest therein; provided however, that upon the
termination of this LURA in accordance with the terms hereof said covenants,
reservations and restrictions shall expire. Each and every contract, deed, or other
instrument hereafter executed covering or conveying the land or the project or any
portion thereof or interest therein shall conclusively be held to have been
executed, delivered and accepted subject to such covenants, reservations and
restrictions, regardless of whether such covenants, reservations and restrictions
are set forth in such contract, deed or other instruments. If a portion or portions of
the land or the project are conveyed, all of such covenants, reservations and
restrictions shall run to each portion of the land or the project.
IX. If a material violation of any of the provisions hereof occurs and is not cured
within a reasonable period of time, affected parties may institute and prosecute
any proceeding at law or in equity to abate, prevent, or enjoin any such violation
or attempted violation and to compel specific performance. The provisions hereof
are imposed upon and made applicable to the land and shall run with the land and
shall be enforceable against the owner of the property or any other person or
entity that has or had an ownership interest in the project at the time of such
violation or attempted violation. No delay in enforcing the provisions hereof as to
any breach or violation shall impair, damage, or waive the right of any party
entitled to enforce the provisions hereof as to any breach or violation shall impair,
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PINELLAS COUNTY FLA.
OFF.REC.8K 11928 PG 2473
damage or waive the right of any party entitled to enforce the provisions hereof or
to obtain relief against or recover for the continuation or repetition of such breach
or violation hereof at any later time or times.
X. The laws of the State of Florida shall govern this Agreement.
XI. GREENWOOD shall not discriminate, as defined by State and Federal Statutes,
on the basis of race, creed, color, sex, age, national origin or familial status in the
lease, use, or occupancy of the SHIP Assisted Units or in the employment or
application for employment of persons for the operation and management of the
project.
XII. Upon execution and delivery by the parties hereto, CITY shall cause this Land
Use Restriction Agreement and all amendments and supplements hereto to be
recorded and filed in the official public deed records of Pinellas County, Florida,
and shall pay all fees and charges incurred in connection therewith.
XIII. This LURA shall not be amended, revised, or terminated except by a written
instrument, executed by the parties hereto (or their successors in title), and duly
recorded in the official public records for Pinellas County, Florida.
XIV. If any provision hereof shall be invalid, illegal, or unenforceable, the validity,
legality and enforceability of the remaining portions hereof shall not in any way
be affected or impaired thereby.
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PINELLRS COUNTY FLR
~~~~REC.8K 11828 PG 2474
IN WITNESS WHEREOF, the Parties have executed this Land Use Restriction
Agreement by its duly authorized representatives.
ATTEST:
GREENWOOD APARTMENTS, LLC
a Flor' imited Liability Company
"
tr\
BY:
Autho . zed Signature
~~~e W\ ,A ~V'~ (:)
Print Name
U I L.~V res fot-e..~'"
Title
STATE OF FLORIDA
COUNTY OF PINELLAS
e foregoing instrument was acknowledged before me this 3 day ~ 2002, by
o Ifl. O~~;t1l~~)
a e of officer or agent) (Title) ame of rporatlOn) 1b"",~'J....h
F~ Corporation on behalf of the corporatio,\ ~ (f'(\CtJ(\f.O...lA- d. G,{~~ ~1IV'...1/
~~ ~-- ~ LLC
He/she is personally known to me or ha~ as identification and
did (did not) take an oath.
Signature of person taking acknowledgement
Name of acknowledger typed, printed or stamped
OFFICIAL N L
PATRICIA K GREEN
NafARY PUBUC STATE OF FLORIDA
COMMISSION NO. CC827063
MY COMMISS~Oi'''; ~P. MAY 7,2003
Title or rank
ARWATER, FLORIDA
fa.~~ 1-
William B. Horne II
City Manager
By:
~rre~ as to form:
Pamela K. i
City Attorney
Attest:
5
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EXHmIT "A"
LEGAL DESCRIPTION
PINELLAS COUNTY FLA.
OFF.REC.8K 11928 PG 2475
~ ~ ~. J'
Parcell:
All that certain parcel of land lying and being in the County of Pinellas, State of Florida, more
particularly described as follows:
The Southwest 'l4 of the Southeast 'l4 of the Northwest 'l4 of Section 10, Township 29 South, Range
15 East, less and except each of the following: The North 122 feet of the West 175 feet thereof, and
the portion thereof described as: Begin at the Southwest corner of said Southwest 'l4 of Southeast 'l4
of Northwest -lf4 for Point of Beginning; and run thence North 007'4111 East 663.23 feet along the
fractional section line; thence South 89023'2911 East 13.6 feet; thence South 004'711 East 643.96 feet;
thence along a curve to the left whose chord bears South 44037'2111 East 21.45 feet and whose radius
is 15 feet; thence South 89016'7" East 633.86 feet; thence South 006'30" West 2.9 feet; thence North
89023'811 West 664.76 feet to Point of Beginning, lying and being in Pinellas County, Florida.
And Less and Except the Following Parcel:
A portion of the Northwest 'l4 of Section 10, Township 29 South, Range 15 East, Pinellas County,
Florida, more particularly described as follows:
From the Southwest comer of the Southeast 'l4 of the Northwest lf4 of said Section 10, Township 29
South, Range 15 East, run North 30.0 feet; thence East 30.0 feet for a point of beginning; thence S
89023'45.35" East, 60.0000 feet; thence N 50000'00.00" West, 30.0000 feet; thence N 15000'00.00"
West, 100.0000 feet; thence N 05000'00.00" West, 115.7269 feet; thence S 00015'36.9411 West,
230.5325 feet to the point of beginning.
Parcel 2:
Lots 13 and 14, BlockB, of NO. 1 SPRINGFIELD SUBDN., LESS AND EXCEPT the South 6 feet
of said Lot 13, according to the map or plat thereof, as recorded in Plat Book 3, Page 56, ofthe
Public Records of Pinellas County, Florida.
Tax: Folio Numbers: 10-29-15-85014-002-0130
10-29-15-00000-240-0200
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