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RELEASE OF LAND USE RESTRICTION AGREEMENT - HOME INVESTMENT PARTNERSHIP AGREEMENTPrepared by: Kara Grande City of Clearwater Dept. of Economic Development & Housing - P.O. Box 4748 Clearwater, FL 33758-4748 CITY OF CLEARWATER ECONOMIC DEVELOPMENT & HOUSING DEPARTMENT RELEASE OF LAND USE RESTRICTION AGREEMENT HOME INVESTMENT PARTNERSHIP AGREEMENT The City of Clearwater does hereby release the property hereinafter described from a certain Land Use Restriction Agreement Home Investment Partnership Program filed by The City of Clearwater in Official Records Book 20018, Page 1262, in the office of the Clerk of the Circuit Court of Pinellas County, Florida, on the 18th day of April, 2018 on said property and we hereby declare said Land Use Restriction Agreement fully satisfied. Said property described on said Land Use Restriction Agreement as follows: LOT 4, VILLAS OF SUNSET GROVE PHASE 1,11,111, IV, AS RECORDED IN PLAT BOOK 81, PAGES 65 THROUGH 67, PUBLIC RECORDS OF PINELLAS COUNTY, FLORIDA Commonly known as: 2048 Sunset Grove Lane, Clearwater, Florida 33765 IN WITNESS WHEREOF, the City of ClearwaXgr, in its corporate capacity, has caused this Release of Land Use Restriction Agreement to be executed this 1 day of Number , 2021 by its City Manager, City Clerk and Senior Assistant City Attorney, and the seal of the City to be here affixed. Approved as to form: Laura Mahony, Senior Assistant Cit t/Attorney STATE OF FLORIDA] COUNTY OF PINELLAS] CITY OF CLEARWATER, FLORIDA By: p'.., 'C• ..ci Jon Jennings, City Manager Rosemarie Call, City Clerk The foregoing instrument was ackno.le er lfor means of Cephysical presence or 0 online notarization, this i 1 b �-1 (date) by , t e City Manager of the City of Clearwater, who is personally known to me or who has produced (type of identification) as identification. WITNESS my hand and official seal this 1 jj1 day of X3 X 2021 My commission expires: (/b (0 tgef. Signature of Notary Public `; tt,:, Scott Burrows ,i_ COMMISSION # GG261179 EXPIRES: October 1, 2022 "4,,% Bonded Thw Aaron Notary I#: 2018121477 BK: 20018: 1248, 04/18/2018 at 04:44 , RECORDING 14 PAGES $120.50 M DOC STAMP COL CTION $70.00 KEN BURKE, C OF COURT AND COMPTROLLER PINELLAS COUNTY, FL BY DEPUTY CLERK: CLKDMC4 Return to: Terry Malcolm -Smith City of Clearwater Dept. of Economic Development & Housing. P.O. Box 4748, Clearwater, FL 33758 ibM instrument prepared by Carrie M. Vitak, Tampa Bay CDC CITY OF CLEARWATER DOWNPAYMENT AND CLOSING COSTS SUBORDINATE MORTGAGE THIS SUBORDINATE MORTGAGE ("Subordinate Security Instrument") is made this 13TH day of APRIL of 208. The grantor is JUDY DAYNE. an unmarried person (Borrower). This Subordinate Security Instrument is given to the City of Clearwater, organized and existing under the laws of the State of Florida whose address is 112 South Osceola Avenue, Clearwater, Florida 33756 (Lender). In this Mortgage, whenever the context so requires, the terms "Lender" and "Borrower" shall include heirs, legal representatives, successors and assigns of such parties. WITNESSETH: Borrower owes Lender the principal sum of TWENTY THOUSAND AND 00/100 Dollars (U.S. 520.000.00. This debt is evidenced by Borrower's Note dated the same date as this Subordinate Security Instrument ("Note"), which provides for monthly payments. The Borrower will make monthly payments to the Lender at 112 S. Osceola Avenue, Clearwater, Florida 33756, or at a different place if required by the Note Holder. There shall be no principal or interest payments due during the first 5 (FIVE' years (Deferral Period). Beginning on APRIL L 2023 the Borrower will start to make payments on the first day of every month until the Borrower has paid all the principal and interest, if any, and any other charges described below that may be owed under this Note or the Mortgage. If on MARCH). 2043 (the Due Date or Maturity Date), the Borrower still owes amounts under the Note, the Borrower will pay those amounts in full on that date. The Note Holder shall have the optional right to declare the amount of the total balance hereof to be due and forthwith payable in advance of the Maturity Date upon the occurrence of any Event of Default or failure to perform in accordance with any of the terms and conditions set forth in the Subordinate Mortgage. Upon exercise of this option by the Note Holder, the entire principal shall bear interest at the rate of three percent (3%) per annum. Forbearance to exercise this option with respect to any failure or breach of the Borrowershall not constitute a waiver of the right as to any continuing failure or breach or any subsequent failure or breach. In addition to this Loan, the Borrower obtained a mortgage loan (the "First Mortgage Loan" from RAYMOND JAMES BANK, N.Q„ ISI1OA ATIMA (the "Senior Lien Holder"), which loan is secured by a first mortgage lien on the property (the "First Mortgage"). Notwithstanding any of the provisions of this Subordinate Mortgage, the requirements of the Lender hereunder shall be subordinate to the requirements of the Senior Lien Holder of the First Mortgage executed by JUDY DAYNE. an unmarried person , in favor of RAYMOND JAMES BANK, N.A.. ISAOA ATIMA executed on APRIL E , 2018 , which is recorded simultaneously herewith in Public Records of Pinellas , County in the State of Florida. In addition to this Loan, the Borrower obtained a mortgage loan (the "Second Mortgage Loan" from HOUSING FINANCE AUTHORITY OF PINELLAS COUNTY. ISAOA ATIMA (the "Second Lien Holder"), which loan is secured by a second mortgage lien on the property (the "Second Mortgage"). Notwithstanding any of the provisions of this Subordinate Mortgage, the requirements of the Lender hereunder shall bo subordinate to the requirements of tZk. $emend Lien Holder oft the Sewed Mortgage executed by JUDY DAYNE, an uuwarried person , in favor of HOUSING FINANCE AUTHORITY OF PINELLAS COUNTY. ISAOA ATIMA executed on APRIL 13 2018 , which is recorded simultaneously herewith in Public Records of Pinellas , County in the State of Florida. Page 1 of 9 Initials • • This Subordinate Security Instrument secures to Lender (a) the repayment of the debt evidenced by the Note, with interest, if applicable, as provided in the Note, and all renewals, extensions and Modifications of the Note; (b) the performance of Borrower's covenants and agreements under this Subordinate Security Instrument and the Note. For this purpose, Borrower irrevocably mortgages, grants and conveys to Lender and Lender's successors and assigns with power of sale, subject to the rights of the Senior Lien Holder under the First Mortgage, the property located in Pinellas County, Florida, which has the address of: 2048 SUNSET GROVE LANE, CLEARWATER, FLORIDA 33765 andisfighzr described as: Exhibit "A" attached. TO HAVE AND TO HOLD this property unto Lender and Lender's successors and assigns, forever, all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Subordinate Security Instrument. All of the foregoing is referred to in this Subordinate Security Instrument as the "Property". BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and, subject to the First Mortgage and other encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to such encumbrances of record. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Indebtedness. Borrower shall promptly pay, when due, the principal, and interest (if applicable) on the debt evidenced by the Note. 2. Funds for Taxes, Insurance and Assessments. Subject to applicable law, Borrower shall pay to Lender, until the Note is paid in full, a sum "Funds" for: (a) yearly taxes and assessments which may attain priority over this Subordinate Security Instrument as a lien on the property; (b) yearly leasehold payments or ground rents on the Property, if any; (c) yearly hazard or property insurance premiums; (d) yearly flood insurance premiums, if any; (e) yearly mortgage insurance premiums, if any; and (f) any other charges and encumbrances which now or hereafter are a lien upon the premises or any part thereof. The Borrower shall not be obligated to make such payments of Funds to the Lender to the extent that the Borrower makes such payments to the Senior Lien Holder in accordance with the First Mortgage. 3. Prior Mortgages; Charges; Liens. The Borrower shall perform all of the Borrower's obligations under the First and Second Mortgage, including Borrower's covenants to make payments when due. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property that may attain priority over this Subordinate Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to the person owed payments. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Except for the lien of the First Mortgage, Borrower shall promptly discharge any other lien which shall have attained priority over this Subordinate Security Instrutnent unless Borrower: (a) agrees in writing to the paytnent of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Subordinate Security Instrument. Except for the lien of the First Mortgage, if Lender determines that any part of the Property is subject to a lien that may attain priority over this Subordinate Security Agreement, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy such lien or take one or more of the actions set forth above within 10 days of the giving of notice. 4. Subordination. Lender and Borrower acknowledge and agree that this Subordinate Security Agreement is subject and subordinate in all respects to the liens, terms, covenants and conditions of the First Mortgage and to all advances heretofore made or which may hereafter be made pursuant to the First Mortgage, not to exceed, in the aggregate, the original principal sum and face amount of the First Mortgage Note, including all sums advanced for the purpose of (a) protecting or further securing the lien of the First Mortgage, curing defaults by the Borrower under the First Mortgage or for any other purpose expressly pennitted by the First Mortgage or (b) constricting, renovating, Page 2 of 9 Initials • • repairing, furnishing, fixturing or equipping the Property. The terms and provisions of the First Mortgage are paramount and controlling, and they supersede any other terms and provisions hereof in conflict therewith. In the event of a foreclosure or deed in lieu of foreclosure of the First Mortgage, any provisions herein or any provisions in any other collateral agreement restricting the use of the Property to low or moderate income households or otherwise restricting the Borrower's ability to sell the Property shall have no further force or effect on subsequent owners or purchasers of the Property. Any person, including his successors or assigns (other than the Borrower or a related entity of the Borrower), receiving title to the Property through a foreclosure or deed in lieu of foreclosure of the First Mortgage shall receive title to the Property free and clear from such restrictions. 5. Hazard of Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards, including floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by the Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgagee clause. All requirements hereof pertaining to insurance shall be deemed satisfied if the Borrower complies with the insurance requirements under the First Mortgage. All original policies of insurance required pursuant to the First Mortgage shall be held by the Senior Lien Holder; provided, however, that Lender be named as a loss payee as its interest may appear and be named as an additional insured. If Lender requires, Borrower shall promptly give to Lender copies of all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier, the Senior Lien Holder and Lender. Lender may make proof of loss if not made promptly by the Senior Lien Holder or the Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and the Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Subordinate Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a written notice from Lender that the insurance carrier has offered to settle a claim, the Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by the Subordinate Security Instrument, whether or not then due. The 30 -day period will begin when the notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the Note or change the amount of the payments. If under paragraph 17 the Property is acquired by the Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Subordinate Security Instrument immediately prior to the acquisition. Notwithstanding the above, the Lender's rights to collect and apply the insurance proceeds hereunder shall be subject and subordinate to the rights of the Senior Lien Holder to collect and apply such proceeds in accordance with the First Mortgage. 6. Occupancy, Preservation, Maintenance and Protection of the Property; Hazardous Substances; Borrower's Loan Application. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Subordinate Security Instrument. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgement could result in forfeiture of the Property or otherwise materially impair the lien created by this Subordinate Security Instrument or Lender's security interest. Borrower may cure such a default and reinstate. as provided in paragraph 16, by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material impairment of the lien created by this Subordinate Security Instrument or Lender's security interest. Page 3 of 9 Initials • • Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall not destroy, damage, or impair the Property, allow the Property to deteriorate or commit waste on the Property. Borrower shall maintain the Property in order to prevent the Property from deterioration or decrease in value due to its condition. Borrower shall comply with all City Codes relating to maintenance of the Property and shall repair or restore the Property upon Notice by the City. Failure to comply with this provision may result in Borrower's loan being placed in default. As used in this paragraph, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Prior to taking any such remedial action, however, the Borrower shall notify the Senior Lienholder that such remedial action is necessary and shall obtain the Senior Lien Holder's prior written consent for such remedial action. Borrower shall also be in default if Borrower, during the loan application process, if Borrower gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning (a) Borrower's occupancy of the Property as a principal residence, (b) Borrower's income and (c) other parties who will be occupying the property. 7. Protection of Lender's Rights in the Property. If Borrower fails to perforin the covenants and agreements contained in this Subordinate Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Subordinate Security Instrument (including suns secured by the First Mortgage), appearing in court, paying reasonable attorney's fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Subordinate Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the rate of three percent (3%) per annum and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. Prior to taking any actions under this Section 7, however, Lender shall notify the Senior Lien Holder of such default in the manner provided in Section 17 of this Subordinate Security Instrument, and shall provide the Senior Lien Holder with the opportunity to cure any such default under this Subordinate Security Instrument. All amounts advanced by the Senior Lien Holder to cure a default hereunder shall be deemed advanced by the Senior Lien Holder and shall be secured by the First Mortgage. In addition, the Lender agrees that it will not comtnence foreclosure proceedings or accept a deed in lieu of foreclosure, or exercise any other rights or remedies hereunder until it has given the Senior Lien Holder at least 60 days' prior written notice. Page 4 of 9 Initials • • Any action by Lender hereunder to foreclose or accept a deed in lieu of foreclosure shall be subject to the "due on sale" provisions of the First Mortgage. Lender and Borrower further agree that a default hereunder shall constitute a default under the First Mortgage. In the event of a default hereunder, the Senior Lien Holder shall have the right to exercise all rights and remedies under the First Mortgage. 8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, subject to the terms of the First Mortgage. In the event the Property, or any part thereof, shall be condemned or taken, the Lender shall have the right to demand that all money awarded for the appropriation thereof, or damage to the Premises, shall be paid to Mortgagee up to the amount of the sums secured by this Subordinate Security Instrument, whether or not the sums are then due, with any excess paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award of settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Subordinate Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the Note or change the amount of such payment. 10. Forbearance by Lender Not A Waiver. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right of remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co -Signers. The covenants and agreements of this Subordinate Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 15. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Subordinate Security Instrument only to mortgage, grant and convey the Borrower's interest in the Property under the terms of this Subordinate Security Instrument; (b) is not personally obligated to pay the sums secured by this Subordinate Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forebear or make any other accommodations with regard to the ternis of this Subordinate Security Instrument or the Note without that Borrower's consent; provided, however, that such modification or accommodation shall not be made without the prior written consent of the Senior Lien Holder. 12. Notices. Any notice to Borrower provided for in this Subordinate Security Instrument shall be given by delivering it or by mailing it by first class nail unless applicable law requires use of another method. The notice shall be directed to the Property Address. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice required to be given to the Senior Lien Holder shall be given by first class mail to the following address: 710 CARRILON PARKWAY, ST. PETERSBURG, FLORIDA 33716 or such other address the Senior Lien Holder designates by notice to the Borrower. Any notice provided for in this Subordinate Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. Page 5 of 9 Initials • 13. Governing Law; Severability. This Subordinate Security Instrument shall be govemed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Subordinate Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Subordinate Security Instrument or the Note which can be given effect without the conflicting provision. To this end, the provisions of this Subordinate Security Instrument and the Note are declared to be severable. 14. Borrower's Copy. Borrower shall be given one copy of the Note and of this Subordinate Security Instrument. 15. Transfer of the Property or a Beneficial Interest in Borrower. Except for a conveyance to the Senior Lien Holder under the First Mortgage, if the Borrower transfers, assigns, sells, refinances, or in any manner disposes of all or a portion of the Property, or any interest therein, then the sums secured by this Subordinate Security Instrument will become immediately due and payable, and such outstanding indebtedness shall bear interest at the rate of three percent (3%) per annum from the date of such transfer, assiglunent, sale, refinance, mortgage or other conveyance until paid in full. The amount of the Note is payable, either upon the conveyance of this title (legal or equitable) to all or any portion of the Property used to secure the Note, or upon the death of the undersigned unless title to the Property vests in an eligible person pursuant to the City and NSP rules and regulations, or upon the termination of occupancy or abandonment of the subject property or use of the property for nonresidential or income production purposes. If Lender exercises this option, Lender shall give Borrower, Senior Lien Holder prior written notice of acceleration. The notice shall provide a period of time not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Subordinate Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may foreclose and invoke any other remedies permitted by this Subordinate Security Instrument without further notice or demand on the Borrower. In the event the sums are collected by law or through an attorney at law, or under advice therefrom, the Lender will have the right to be paid back for all of its costs and expenses in enforcing the Note and this Subordinate Security Instrument, to the extent not prohibited by applicable law. In the event suit is instituted to foreclose or to enforce payment of the sums secured by this Subordinate Security Instrument, or to enforce performance of any covenant or obligation hereunder, Lender shall be entitled to the appointment of a Receiver to take charge of the Property, to collect the rents, issues and profits therefrom, and to complete any construction and care for the Property, and such appointment shall be made by the court having jurisdiction thereof as a matter of right to the Lender, and all rents, profits, incomes, issues and revenues of the Property are hereby assigned and pledged as further security for payment of the sums hereby secured. Notwithstanding Lender's right to invoke any remedies hereunder, as provided in Section 7 above, Lender agrees that it will not continence foreclosure proceedings or accept a deed in lieu of foreclosure, or exercise any other rights or remedies hereunder until it has given the Senior Lien Holder at least 60 days' prior written notice. 16. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Subordinate Security Instrument discontinued at any time. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Subordinate Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants and agreements; (c) pays all expenses incurred in enforcing this Subordinate Security Instrument, including, but not limited to, reasonable attorney's fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Subordinate Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Subordinate Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Subordinate Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 15. Page 6 of 9 Initials • • 17. Acceleration; Remedies. Lender shall give notice to Borrower and to the Senior Lien Holder prior to acceleration following Borrower's breach of any covenant or agreement in this Subordinate Security Instrument. The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower (and with respect to the Senior Lien holder, 60 days from the date the notice is given to the Senior Lien Holder), by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Subordinate Security Instrument, foreclosure and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration. If the default is not cured by the Borrower on or before the date specified in the notice, and the Senior Lien Holder has not exercised its right to cure the default, then Lender at its option may require immediate payment in full of all sums secured by this Subordinate Security instrument without further demand and may foreclose by judicial proceeding, and may invoke the power of sale and any other remedies permitted by applicable law. Notwithstanding Lender's right to invoke any remedies hereunder, as provided in Section 7 above, the Lender agrees that it will not commence foreclosure proceedings or accept a deed in lieu of foreclosure, or exercise any other rights or remedies hereunder until it has given the Senior Lien Holder at least 60 days' prior written notice. Lender shall be entitled to collection all expenses incurred in pursuing the remedies provided in this paragraph, including, but not limited to, reasonable attorney's fees and costs of title evidence. 18. Release. Upon payment of all sums secured by this Subordinate Security Instrument, Lender shall release this Subordinate Security Instrument without charge to Borrower. Borrower shall pay any recordation costs. 19. Land Use Restriction Aereement. The HOME Investment Partnership Program ("Program") is authorized under Title II of the Cranston -Gonzalez National Affordable Housing Act, as amended. In accordance with Program regulations as provided for in 24 CFR Part 92, this mortgage shall be subject to all terns and conditions of the Land Use Restriction Agreement executed and recorded of even date herein. 20. Notice to Borrower. Do not sign this Mortgage if it contains blank spaces. All spaces should be completed before you sign. [The remainder of this page intentionally left blank] Page 7 of9 initials • • BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Subordinate Security Instrument. Witnesses: Borrowers: cf rinted Name: Chloe Gibbs JUDY DAYNE (Borrower) Printed Name: CUU,(Q ,(ct l L i J f (Non -Purchasing Spouse) Printed Name: (Co -Borrower) State of: Florida County of Pinellas I hereby certify that on this day, before me, an officer duly authorized in the state aforesaid and in the county aforesaid to take acknowledg°ents, persona+ly appeared JUDY DAYNE, an unmarried person , who is personally known to me or who has produced �t/ti , ww L3Cs�•�+� as identification, who did/did not take an oath, and who executed the foregoing instntment and acknowledged before me that SHE executed the same for the purpose therein expressed. Witness by hand and official seal in the county and state aforesaid this 13T11 day of APRIL , 2018. My Commission expires: Page 8 of 9 Initials PAMELA CWRIGHT Notary Public - State of Florida Commission 9 GG 140913 My Comm. Expires Sep 16, 202 Bondedtfircagr national nctary Rsu. • • Exhibit "A" LEGAL DESCRIPTION: LOT 4, VILLAS OF SUNSET GROVE PHASE I, II, III, IV, AS RECORDED IN PLAT BOOK 81, PAGES 65 THROUGH 67, PUBLIC RECORDS OF PINELLAS COUNTY, FLORIDA. I'age 9 of 9 initials :4010,41: First American Schedule A • Loan Policy of Title Insurance ISSUED BY First American Title Insurance Company POLICY NUMBER 5011312-2512951B Name and Address of Title Insurance Company: FIRST AMERICAN TITLE INSURANCE COMPANY, 1 First American Way, Santa Ana, California 92707 File No.: 2038-25129516 Loan No.: Address Reference: 2048 Sunset Grove Ln Clearwater, FL 33765 Amount of Insurance: $20,000.00 Premium: $115.00 Date of Policy: 04/13/2018 (or the date of recording of the instrument executed at closing vesting title in the insured, whichever is later) 1. Name of Insured: City of Clearwater, ISAOA/ATIMA, its successors and/or assigns as defined in the Conditions of the policy, as their interests may appear. 2. The estate or interest in the Land that is encumbered by the Insured Mortgage is: Fee Simple 3. Title is vested in: Judy Dayne 4. The insured mortgage and assignments thereof, if any, are described as follows: Mortgage by and between Judy Dayne and City of Clearwater, ISAOA/ATIMA, dated April 13, 2018 and sent for recording contemporaneously with the closing, referred to above, in the public records of the county where the insured Land is located, as further described in this Policy, securing unto the insured lender a loan in the original face amount of $20,000.00. 5. The Land referred to in this policy is described as follows: See Exhibit "A" attached hereto and made a part hereof Form 5011312 (7-1-14) Page 7 of 14 ALTA Loan Policy of Title Insurance (6-17-06) (with Florida modifications) • • Return to: Terry Malcolm -Smith City of Clearwater Dept. of Economic Development & housing - P.O. Box 4748 Clearwater, FL 33758 This instrument prepared by: Carrie M. Vitale, Tampa Bay CDC CITY OF CLEARWATER DOWNPAYMENT AND CLOSING COSTS NOTE Exhibit B $20,000.00 Clearwater, Florida APRIL 13, 2018 Property Address: 2048 SUNSET GROVE LANE CI,EARWATER, FLORIDA 33765 (the "Property") Parcel ID # 01-29-15-94139-000-0040 1. BORROWER'S PROMISE TO PAY For value received, the undersigned ("Borrower") promises to pay the sum Twenty Thousand $20,000.00 of and 00/100 in U.S. currency (this amount is called "Principal") to the order of the Lender. The Lender is the City of Clearwater, organized and existing under the laws of the State of Florida and located at 112 S. Osceola Avenue, Clearwater, Florida 33756. The Lender or anyone who takes this Note by transfer and who is entitled to receive the value as evidenced by this Note, ("Security Instrument") is called the "Note Holder". This payment of this Note is secured by that mortgage entered into of even date herewith and recorded in the public records of Pinellas County. 2. INTEREST There will be no interest charged on the loan during the first FIVE (5) years (Deferral Period). After this period, interest will begin to accrue on the unpaid Principal at a rate of zero percent (0%) per annum until the full amount of principal has been paid. If, during the Deferral Period, the Borrower does not occupy the property as the Borrower's principal residence or transfers, assigns, sells, rents, mortgages, refinances or in any manner disposes of all or a portion of the property which is subject to this Note and the Mortgage described below without prior written approval of the Lender, or fail to meet the obligations established by this Note and Mortgage and all other applicable related documents ("Mortgage Documents"), restrictions or laws, then the principal amount hereunder shall immediately become due and payable, and such outstanding principal shall begin to bear interest immediately at the rate of three percent (3%). per annum from the date of such sale, rent, transfer, assignment, mortgage, refinance or utiwt cutncyttrtec"paid in Cull. Page 1 of 5 Initials • 3. PAYMENTS (A) Time and Place of Payments The Borrower will make monthly payments to the Lender at 112 S. Osceola Avenue, Clearwater, Florida 33756, or at a different place if required by the Note Holder. There shall be no principal or interest payments due during the first FIVE (5) years (Deferral Period). Beginning on APRIL 1. 2023 the Borrower will start to make payments on the first day of every month until the Borrower has paid all the principal and interest, if any, and any other charges described below that may be owed under this Note or the Mortgage. If on MARCH 1, 2043 (the Due Date or Maturity Date), the Borrower still owes amounts under the Note, the Borrower will pay those amounts in full on that date. The Note Holder shall have the optional right to declare the amount of the total balance hereof to be due and forthwith payable in advance of the Maturity Date upon the occurrence of any Event of Default or failure to perform in accordance with any of the terms and conditions set forth in the Subordinate Mortgage. Upon exercise of this option by the Note Holder, the entire principal shall bear interest at the rate of three percent (3%) per annum. Forbearance to exercise this option with respect to any failure or breach of the Borrower shall not constitute a waiver of the right as to any continuing failure or breach or any subsequent failure or breach. The entire principal amount of the Note shall be due and payable if the Borrower sells, rents, refinances (subject to the Lender's Subordination Policy, as amended) or if the property ceases to be the principal/homestead property of Borrower or upon a default as described herein. (B) Monthly payments will be in the amount of $ 83.33 in (U.S. Dollars) 4. BORROWER'S RIGHT TO PREPAY The Borrower has the right to prepay the balance due on this Note. A payment of principal only is known as a "Prepayment". When a prepayment is made, the Borrower must notify the Note Holder, in writing, that they are doing so. Full prepayment or partial prepayments may be made without paying any prepayment charge. The Note Holder will use all prepayments to reduce the amount of Principal that is owed under this Note. If a partial prepayment is made, there will be no change in the Due Date, unless the Note Holder agrees, in writing, to this change. Should the borrower sell, refmance (subject to Subordination Policy of the Lender, as amended), rent or otherwise transfer title of the Property or if the property should cease to be the principal residence, or fail to meet the required obligations of this Note, the full amount of the Note will be due to the Note Holder. 5. LOAN CHARGES If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected in connection with this loan exceed the permitted limit, then any sum already collected which exceeded permitted limits shall be credited as a payment of principal, unless the Borrower shall notify the Note Holder, in writing, that the Borrower elects to have such excess sum returned to it forthwith. 6. BORROWER'S FAILURE TO PAY AS REQUIRED BORROWER'S FAILURE TO PAY AS REQUIRED (A) Late Charge for Overdue Payments If the Note Holder has not received the full amount of any monthly payments by the end of fifteen (15) calendar days after the date it is due, the Borrower will pay a late charge to the Note Holder. The amount of the charge will be the lesser of $25.00 or five percent (5%) of the overdue payment of principal and interest. The Borrower will pay th's late charge promptly hut only once for each late payment. Page 2 of 5 Initials • • (B) Default Except as otherwise provided in Section 3 above or the provisions of the Mortgage, if the full amount is not paid by the Due Date, the Borrower will be placed in default. (C) Notice of Default If the Borrower is in default, the Note Holder shall send a written notice which advises that the full principal amount, including any interest that may accrue (as defined in Section 2 and 3 above), is due and payable by a certain date. That date must be at least 30 days after the date on which the notice is delivered or mailed. The Note shall become due and payable if the borrower should sell, refinance (subject to the Lender's Subordination Policy, as amended), rent or otherwise transfer title of the property secured in this Note or if the Property should cease to be the principal/homestead residence of the borrower. Should the Borrower default against any provisions contained in this Note and corresponding Mortgage, or the Mortgage Documents, the outstanding principal will bear an interest rate of three percent (3%) per annum from the date of said default. (D) No Waiver By Note Holder The remedies of the Note Holder, as provided herein, or in the Mortgage Instrument shall be cumulative and concurrent and may be pursued regularly, successively or together, at the sole discretion of the Note Holder, and may be exercised as often as occasion therefore shall arise. No act of omission or commission of the Note Holder, including specifically any failure to exercise any right, remedy or recourse, shall be deemed to be a waiver or release of the same, such waiver or release to be effected only through a written document executed by the Note Holder, and then only to the extent specifically recited therein. A waiver or release with reference to any one event shall not be construed as continuing as a waiver or release of any subsequent right, remedy or recourse as to a subsequent event. Even if, at a time when the Borrower is in default, the Note Holder does not require immediate payment in full, as described above, the Note Holder will still have the right to do so if a default occurs at a later time. (E) Payment of Note Holder's Costs and Expenses In the event the Note is collected by law or through an attorney at law, or under advice there from, the Note Holder will have the right to be paid back for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses include, for example, reasonable attorney's fees, which are defined to include, without limitation, all fees incurred in all matters of collection and enforcement, construction and interpretations, before, during and after trial, proceedings and appeals, as well as appearances in reorganization or similar proceedings, and the cost of paraprofessional personnel working under supervision of an attorney. 7. GIVING OF NOTICES Unless applicable law requires a different method, any notice that must be given under this Note will be given by delivering it or by mailing it by first class mail to the Borrower at the Property address Noted above. Any notice that must be given to the Note Holder under this Note will be given by delivering it or by mailing it by first class mail to the Note Holder, at the address stated in Section 1 or at a different address if the Borrower is given a notice of that different address. 8. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of them together. This means that any one of them may be required to pay all of the amounts owned under this Note. Page 3 of 5 Initials 9. WAIVERS All persons now or at any time liable, whether primarily or secondarily, for the payment of the indebtedness hereby evidenced, for themselves, their heirs, legal representatives, successors and assigns respectively, hereby (a) expressly waive the rights of presentment, demand for payment, notice of dishonor, protest, notice of nonpayment or protest, and diligence in collection. "Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of Dishonor" means the right to require the Note Holder to give Notice to other persons that amounts due have not been paid. (b) consent that the time of all payments or any part thereof may be extended, rearranged, renewed or postponed by the Note Holder hereof and further consent that the collateral security or any part thereof may be released, exchanged, added to or substituted for by the Holder hereof, without in anyway modifying, altering, releasing, affecting or limiting their respective liability or the lien of any security instrument; (c) agreed that the Note Holder, in order to enforce payment of this Note, shall not be required first to institute any suit or to exhaust any of its remedies against the Borrower or any other person or party to become liable hereunder. This Note and the instruments securing it have been executed and delivered in, and their terms and provisions are to be governed and construed by the laws of the State of Florida. 10. UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note Holder under this Note, a Subordinate Mortgage (the "Subordinate Security Instrument"), dated the same date as this Note, protects the Note Holder from possible losses which might result if the Borrower does not keep the promises which are made in this Note. The Subordinate Security Instrument is and shall be subject and subordinate in all respects to the liens, terms, covenants and conditions of the First Mortgage and Second Mortgage. The Subordinate Security Instrument described how and under what conditions the Borrower may be required to make immediate payment in full of all amounts owed under this Note. The Note Holder may, at its option, require immediate payment in full of all sums secured by this Subordinate Security Instrument. However, this option shall not be exercised by the Note Holder if exercise is prohibited by federal law as of the date of this Instrument. If the Note Holder exercises this option, the Note Holder shall give the Borrower, the Senior Lien Holder and the Second Lien Holder prior written notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which the Borrower must pay all sums secured by this Subordinate Security Instrument. If the Borrower fails to pay these sums prior to expiration of this period, the Note Holder may invoke any remedies permitted by this Security Instrument without further notice or demand on the Borrower. 11. If more than one party shall execute this Note, the term "Borrower", as used herein, shall mean all parties signing this Note and each of them, who shall be jointly and severally obligated hereunder. In this Note, whenever the context so requires, the neuter gender includes the feminine and/or masculine, as the case may be, and the singular number includes the plural. 12. COPY RECEIVED Borrower hereby acknowledges receipt of a copy of this instrument. [The remainder of this page intentionally left blank] Page 4 of 5 Initials Notice to Borrower Do not sign this Note if it contains blank spaces. All spaces should be completed before you sign. IN WITNESS WHEREOF, this Note has been duly signed by the Borrower on or as of the day and year first above written. •0T�' ttne : 4 Chloe Gibbs STATE OF FLORIDA COUNTY OF PINELLAS i The foregoing instrument was acknowledged before me this 13TH day of APRIL 2018 by JUDY DAYNE, an unmarried person, personally known to me or who have produced a drivers license as identification. My Commission expires: Page 5 of 5 Notary Public .a'��; PAMELA C WRIGHT Notary Public - State of Florida Commission # GG 140915 My Comm. Expires Sep 16, 2021 Bonded through National Notary Assn. Initials • • Prepared by: Terry Malcolm -Smith City of Clcarwater- Dept. of Economic Development & Housing - P.O. Box 4748, Clearwater, FL 33758 LAND USE RESTRICTION AGREEMENT HOME INVESTMENT PARTNERSHIP PROGRAM HOME BUYER THIS DECLARATION is entered into this 13TH day of APRIL , 2018 between JUDY DAYNE, an unmarried person ,his/her successors, assigns and transferees regarding the real property described below, hereinafter called (" Borrower") and the City of Clearwater, Florida, unit of local government organized and existing under the laws of the State of Florida hereinafter called ("City"), whose address is 112 South Osceola Avenue, Clearwater, Florida 33756 (Lender). WHEREAS, the Borrower shall purchase certain real property described herein and agrees to the City that the real property which is the subject of a Mortgage and Note executed by Borrower of even date herewith, shall contain the restrictive covenants set forth herein, WHEREAS, Borrower agrees that the hereafter described restrictive covenants shall remain in full force and effect against the real property until the end of the Period of Affordability, WHEREAS, these covenants shall be properly filed and recorded by City in the Official Public Records of the Pinellas County, Florida and shall constitute a restriction upon the use of the property subject to and in accordance with the terms contained herein, and IN CONSIDERATION of funds the City has provided to the Borrower for a loan to finance the down payment and closing costs on real property located in the City of Clearwater, Pinellas County Florida described as: (LEGAL DESCRIPTION) LOT 4, VILLAS OF SUNSET GROVE PHASE I, II, III, IV, AS RECORDED IN PLAT BOOK 81, PAGES 65 THROUGH 67, PUBLIC RECORDS OF PINELLAS COUNTY, FLORIDA. which has the address of: 2048 SUNSET GROVE LANE, CLEARWATER, FLORIDA 33765 (herein "Property Address") and which real property is described in the mortgage between the City and the Borrower, the Borrower acknowledges that these Restrictive Covenants are necessary to comply with the program requirements of the HOME program stated at 24 CFR §92.254, from which funds were obtained to finance such loan and covenants and agrees with the following: 1. Covenants and Restrictions on Use of HOME Funds. HOME funds provided to this project will be used for down payment and closing costs for the acquisition of the real property. At the time of the application, the Borrower's annual income should not exceed 80 percent of the area median income, as determined and made available by the U.S. Department of Housing and Urban Development with adjustments for smaller and larger families at the time of purchase of the new home. The home must be the principal residence of the family. a. The value of the HOME assisted unit shall not exceed 95 percent of the median purchase price for that type of single family housing for the area (FHA 203(b) limits). The maximum per unit subsidy amount shall not exceed the per dollar limits established under section 221(d)(3)(ii) of the National Housing Act. b. The Borrower shall have fee simple title to the property. c. For the purpose of these Covenants, the Period of Affordability shall be a period beginning when the HOME funds are invested and ending at the end of the TEN (10 ) years thereafter. d During the Period of Affordability, the single family unit must be occupied by the Borrower. Should the Borrower sell the property to any willing buyer at whatever price the market will bear, the sale will trigger repayment of the 1 • • HOME assistance. In addition, if the Borrower should rent and/or transfer the property, or if the home shall cease to be the principal/homestead residence of the Borrower, it will trigger repayment of the HOME assistance. e. The City will use the recapture provision for repayment of the loan should the Borrower not abide with the affordability period or any other default provision in the mortgage, note or covenant. In the event of default, the Borrower shall repay the City in accordance with the following: (1) The " Net Proceeds" from the sale shall be determined by subtracting the amount of the seller's closing costs and repayments of the outstanding loans on the property, including the repayments of any loans of HOME or other funds provided by the City; (2) The Borrower may recover his or her initial investment from the Net Proceeds. The initial investment included the amounts he or she contributed to the down payment when the property was originally purchased, to any permanent improvements to the property and to payment of principal on the permanent financing. (3) Any balance remaining from the initial investment shall be divided proportionally between the Borrower and the City according to their investments and formulas. The City's investment shall include all grants and loans of HOME or other City funds provided to the Borrower, minus any repayments previously made to the City. (4) In the event the proceeds from the sale of the property are insufficient to permit the Borrower to recover any of the amounts indicated in (1), (2) or (3) above, neither the City nor any previous owner shall be liable for such insufficiency. f. In the event the housing is conveyed pursuant to a foreclosure sale, the provisions of Section 92.254 (a)(5)(ii) of the HOME Program shall apply. The recapture provision provides for shared net proceeds (if any) from the foreclosure sale. If there are no net proceeds from the foreclosure, repayment by the City or the Borrower is not required and HOME Program requirements are considered to be satisfied. g• Enforcement. Violation or breach of any restrictions or covenant herein contained shall give the City the right to institute any proceeding at law or in equity necessary to recover the applicable sum set forth in this agreement. If action is instituted by the City to recover the sum, Borrower or its successors in the title agree to pay all costs to collection, including court costs and reasonable attorney's fees. IN WITNESS WHEREOF, this document has been duly signed by the Borrower on or as of the day & year above written. In the r esence of: F, Ma VI iWTtv Borrower/Spouse — STATE OF FLORIDA, COUNTY OF PINELLAS The foregoing instrument was acknowledged before me this 13TH day of APRIL, 2018 by JUDY DAYNE, an unmarried person, personally known to me or who has produced a drivers 1 cense as identification. My Commission expires: PAMELA C WRIGHT Notary Public - State of Florida • Commission # GG 140915 My Comm. Expires Sep 16, 2021 Bonded through National Notary Assn. I#: 2018121478 BK: 2001 PG: 1262, 04/18/2018 at 04:4 PM, RECORDING 2 PAGES $18.50 KEN BURKE, Clt OF COURT AND COMPTROLLER I LLAS COUNTY, FL BY DEPUTY CLERK: CLKDMC4 Pn pand by: 'I eny Malcolm -Smith City of Ckarwat Dcpt. of Economic Development & Housing - P.O. !lox 4748, C1curwater, FL 33758 LAND USE RESTRICTION AGREEMENT HOMEOVESTMENT PARTNERSHIP PROGRAM HOMEBUYER THIS DECLARATION is entered into this 13TH day of APRIL , nig between JUDY DAYNE. an unmarried person ,his/her successors, assigns and transferees regarding the real property described below, hereinafter called (' Borrower) and the City of Clearwater, Florida, unit of local government organized and existing under the laws of the State of Florida hereinafter called ("City"), whose address is 112 South Osceola Avenue, Clearwater, Florida 33756 (Lender). WHEREAS, the Borrower shall purchase certain real property described herein and agrees to the City that the real property which is the subject of a Mortgage and Note executed by Borrower of even date herewith, shall contain the restrictive covenants set forth herein, WHEREAS, Borrower agrees that the hereafter described restrictive covenants shah remain in full force and effect against the real property until the end of the Period of Affordability, WHEREAS, these covenants shall be properly filed and recorded by City in the Official Public Records of the Pinellas County, Florida and shall constitute a restriction upon the use of the property subject to and in accordance with the terms contained herein, and IN CONSIDERATION of funds the City has provided to the Borrower for a loan to finance the down payment and dosing costs on real property located in the City of Clearwater, Pinellas County Florida described as: (LEGAL DESCRIPTION) LOT 4, VILLAS OF SUNSET GROVE PHASE I, II, III, IV, AS RECORDED IN PLAT BOOK 81, PAGES 65 THROUGH 87, PUBLIC RECORDS OF PINELLAS COUNTY, FLORIDA. which has the address of: 2048 SUNSET GROVE LANE. CLEARWATER. FLORIDA 33785 (herein "Property Address") and which real property is described in the mortgage between the City and the Borrower, the Borrower acknowledges that these Restrictive Covenants are necessary to comply with the program requirements of the HOME program stated at 24 CFR §92.254, from which funds were obtained to finance such loan and covenants and agrees with the following: 1. Covenants and Restrictions on Use of HOME Funds. HOME funds provided to this project will be used for down payment and closing costs for the acquisition of the real property. At the time of the application, the Borrower's annual income should not exceed 80 percent of the area median income, as determined and made available by the U.S. Department of Housing and Urban Development with adjustments for smaller and larger families at the time of purchase of the new home. The home must be the principal residence of the family. a. The value of the HOME assisted unit shall not exceed 95 percent of the median purchase price for that type of single family housing for the area (FHA 203(b) limits). The maximum per unit subsidy amount shall not exceed the per dollar limits established under section 221(dX3)(l1) of the National Housing Act. b. The Borrower shall have fee simple title to the property. c. For the purpose of these Covenants, the Period of Affordability shall be a period beginning when the HOME funds are invested and ending at the end of the TEN (10 ) years thereafter. d. During the Period of Affordability, the single family unit must be occupied by the Borrower. Should the Borrower sell the property to any willing buyer at whatever price the market will bear, the sale will trigger repayment of the 1 CLEARWATER BRIGHT AND BEAUTIFUL• BAY TO BEACH Interoffice Memorandum To: Terry From: Kara CC: Judy Dayne, Release a€ UIRA Date: 2/4/2021 Hi — pulled this file to file the insurance info today and noticed there was a LURA in it and a note that said release it from public records. Looks like it was filed erroneously. Checked public records but don't see that a release was done. Just wondered if it needed to be? TO: FROM: AUTHORIZED BY: COPY TO: SUBJECT: DATE: Laura Mahony Kara Grande Ext. Jae, 4056 CLEARWATER BRIGHT AND BEAUTIFUL. • BAY TO BEACH REQUEST FOR LEGAL SERVICES FORM David Margolis, City Attorney w/o attachments Request for Legal Services Re: Land Use Restriction Agreement - Judy Dayne November 4, 2021 -0 8 2021 City Attorney Service Required: (Click on appropriate box) Review and comment on document X Draft document ❑ Written opinion requested ❑ Advise ❑ 1 Brief factual background of the request or problem: The attached Land Use Restriction Agreement for Judy Dayne was recorded in error and needs to be released from public records. 2. Specific questions to be answered: Please review and approve the attached Release of LURA as to form. Please forward for signatures. 3. Identify prior legal assistance on this or a related matter and the name of the attorney who handled it: 4. List and/or attach (all supporting documentation, related materials and known authorities, i.e., statute, ordinance, resolution, administrative code, legal case, contract, lease letter, memorandum, prior legal opinion): Mortgage/Note Land Use Restriction Agreement s:\Forms\Legal services form