Loading...
LAND USE RESTRICTION AGREEMENT HOME INVESTMENT PARTNERSHIP PROGRAM HOME BUYER - RESALEI#: 2025011438 BK: 23030 PG: 1148, 01/13/2025 at 01:08 PM, RECORDING 3 PAGES $27.00 KEN BURKE, CLERK OF COURT AND COMPTROLLER PINELLAS COUNTY, FL BY DEPUTY CLERK: CLKDU08 Prepared by: Terry Malcolm -Smith City of Clearwater - Dept. of Economic Development & Housing - P.O. Box 4748 Clearwater, FL 33758 LAND USE RESTRICTION AGREEMENT HOME INVESTMENT PARTNERSHIP PROGRAM HOME BUYER -Resale THIS AGREEMENT is entered into this 8th day of January, 2025 between CARLOS J. DAZA GIL and DIANA K. CORTES CARRILLO husband and wife, his/her successors, assigns and transferees regarding the real property described below, hereinafter called ("Homeowner") 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 P.O. Box 4748, Clearwater, Florida 33758. THIS AGREEMENT 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 WHEREAS, the Homeowner 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. IN CONSIDERATION of funds the City has provided to finance the construction of the fee simple (Project) on real property located in the City of Clearwater, Pinellas County, Florida described as: (LEGAL DESCRIPTION) Lot 1. REPLAT OF ARDMORE PLACE, according to the Plat thereof as recorded in Plat Book 25, Page 56, Public Records of Pinellas County, Florida, which has the address of. 1300 Milton Street, Clearwater, Florida 33756 (herein 'Property Address") the Homeowner acknowledges that these Restrictive Covenants are necessary to comply with program requirements of the HOME program stated at 24 CFR §92.254, from which funds were obtained to construct the Project and hereby covenants and agrees that he/she will comply, and will require the subsequent purchaser of the Property to comply, with the following covenants and restrictions in the use of the Property. Homeowner further acknowledges that the following covenants and restrictions may limit the future resale price of the property. 1. Affordability of Assisted Unit. During the Affordability Period as defined below, homeowner may sell the Property to income -eligible person or household. The Property may only be sold to buyer whose annual income does not exceed 80% of the Area Median Income at the time of purchase. Annual income for the purpose of this Agreement shall be as defined by the U.S. Department of Housing and Urban Development for the HOME Program, adjusted for family size. Buyer income documentation shall be submitted to the City or it's designee for approval prior to the sale of the Property. 2. Homeowner Rules. For the duration of the Affordability Period, as defined below, the Homeowner shall occupy the Property as a full-time primary residence. Homeowner shall not be permitted to rent or lease the unit at any time during the Affordability Period. These restrictions apply to the initial sale as well as future resale, for the duration of the Affordability Period; therefore, the Homeowner shall assure that a subsequent buyer sign a Land Use Restriction Agreement (LURA), Affidavit or other City approved Agreement for purchase. Such Agreement shall be submitted to the City or it's designee for approval prior to the sale of the Property. 3. Affordability Period. For the purpose of the Agreement, the Affordability Period shall commence upon the date of the initial purchase of the Property by the Homeowner and end on the same date of the Eighth (8th) year thereafter. Subsequent homebuyers of the Property must also agree to comply with homeowner rules, as described in Section 2, for the remainder of the Affordability Period. 4. Resale. The resale requirements ensure that the price at resale provides the original home -assisted owner a fair return on investment and ensure that the housing will remain affordable to a reasonable range of low-income 1 Prepared by: Terry Malcolm -Smith City of Clearwater - Dept. of Economic Development & Housing - P.O. Box 4748 Clearwater, FL 33758 ElefilliudiReuirded on V 1)74 2-5-, in.aA..Oick-'17.1county Florida LAND USE RESTRICTION AGREEMENT HOME INVESTMENT PARTNERSHIP PROGRAM HOME BUYER -Resale THIS AGREEMENT is entered into this 8th day of January, 2025 between CARLOS J. DAZA GIL and DIANA K. CORTES CARRILLO, husband and wife, his/her successors, assigns and transferees regarding the real property described below, hereinafter called ("Homeowner") 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 P.O. Box 4748, Clearwater, Florida 33758. THIS AGREEMENT 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 WHEREAS, the Homeowner 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. IN CONSIDERATION of funds the City has provided to finance the construction of the fee simple (Project) on real property located in the City of Clearwater, Pinellas County, Florida described as: (LEGAL DESCRIPTION) Lot 1, REPLAT OF ARDMORE PLACE according to the Plat thereof as recorded in Plat Book 25, Page 56, Public Records of Pinellas County, Florida, which has the address of. 1300 Milton Street, Clearwater, Florida 33756 (herein "Property Address") the Homeowner acknowledges that these Restrictive Covenants are necessary to comply with program requirements of the HOME program stated at 24 CFR §92.254, from which funds were obtained to construct the Project and hereby covenants and agrees that he/she will comply, and will require the subsequent purchaser of the Property to comply, with the following covenants and restrictions in the use of the Property. Homeowner further acknowledges that the following covenants and restrictions may limit the future resale price of the property. 1. Affordability of Assisted Unit. During the Affordability Period as defined below, homeowner may sell the Property to income -eligible person or household. The Property may only be sold to buyer whose annual income does not exceed 80% of the Area Median Income at the time of purchase. Annual income for the purpose of this Agreement shall be as defined by the U.S. Department of Housing and Urban Development for the HOME Program, adjusted for family size. Buyer income documentation shall be submitted to the City or it's designee for approval prior to the sale of the Property. 2. Homeowner Rules. For the duration of the Affordability Period, as defined below, the Homeowner shall occupy the Property as a full-time primary residence. Homeowner shall not be permitted to rent or lease the unit at any time during the Affordability Period. These restrictions apply to the initial sale as well as future resale, for the duration of the Affordability Period; therefore, the Homeowner shall assure that a subsequent buyer sign a Land Use Restriction Agreement (LURA), Affidavit or other City approved Agreement for purchase. Such Agreement shall be submitted to the City or it's designee for approval prior to the sale of the Property. 3. Affordability Period. For the purpose of the Agreement, the Affordability Period shall commence upon the date of the initial purchase of the Property by the Homeowner and end on the same date of the Eighth (8th) year thereafter. Subsequent homebuyers of the Property must also agree to comply with homeowner rules, as described in Section 2, for the remainder of the Affordability Period. 4. Resale. The resale requirements ensure that the price at resale provides the original home -assisted owner a fair return on investment and ensure that the housing will remain affordable to a reasonable range of low-income 1 buyers. Fair return on investment is defined as the average change on the Consumer Price Index (CPI) over the period of ownership by the Homebuyer. 5. Buyer Income. The City shall determine and verify income eligibility of the buyer of the Property in accordance with HUD Section 8 Housing Assistance programs in 24 CFR Part 5. The City shall calculate gross income by annualizing verified sources of income received by the household during the twelve (12) months preceding the effective date of the determination. 6. Assurance of Public Purpose. Should the homeowner materially default on the terms and conditions incorporated herein, or if the homeowner is unable or unwilling to operate the property in accordance with the terms and conditions incorporated herein, the Homeowner covenants that no lease, sale or title transfer to any third party shall occur prior to giving the City a ninety (90) day written notice, during which time the City shall have the right, solely at its discretion, to purchase or find another buyer to purchase the Property, in order to carry out the eligible activities of the HOME Program and other regulations incorporated herein by reference, for an amount not to exceed the appraised value. 7. Default/Remedies. If the Homeowner shall fail to observe or perform any covenant condition or agreement contained herein on its part to be observed or performed, then and in such event, the City shall be entitled, in addition to all other remedies provided by law or in equity. A. To compel specific performance by the Homeowner of its obligations under this Agreement. B. To rescind any and all incentives, either regulatory and/or financial, provided to the Homeowner. 8. Notice. Except for any notice required under applicable law to be given in another manner. (a) any notice to the Homeowner provided for in this Agreement shall be given by mailing such notice by certified mail to the Homeowner's address stated herein, or at such other address as the Homeowner may designated by notice to the City as provided herein, and (b) any notice to the City shall be given by certified mail, return receipt requested, to the City's address stated herein or to such other address as the City may designate by note to the Homeowner as provided herein. Any notice provided for in this Agreement shall be deemed to have been given to the Homeowner or City when given in the manner designated herein. 9. Successors Bound — Burden to Run with Property. This Agreement and the covenants and conditions contained herein shall run with the land and shall bind, and the benefits shall inure to, respectively, the Homeowner and its successors and assigned and all subsequent owners of the Property or any interest therein, and to the City for the Affordability Period set forth in this Agreement. The Homeowner shall expressly make the conditions and covenants of this Agreement a part of any deed or other instrument conveying any interest in the Property. 10. Severability. Should any section or any part of any section of this Agreement be rendered void, invalid or unenforceable by any court of law, for any reason, such determination shall not render void, invalid, or unenforceable any other section or any part of any section in this Agreement. 11. Enforcement of Terms. The benefits of this Agreement shall inure to and may be enforced by the City for the full duration of the Affordability Period. a. The affordability restrictions may terminate upon occurrence of any of the following termination events: foreclosure, transfer in lieu of foreclosure or assignment of an FHA insured mortgage to HUD. b. Enforcement. The benefits of this Agreement shall inure to and may be enforced by the City for the full duration of the Affordability Period. c. Violation or breach of any restrictions or covenant herein contained shall give the City the right to institute any proceeding at law. The Homeowner or its successors in the title agree to pay all costs to collection, including court costs and reasonable attorney's fees. 2 IN WITNESS WHEREOF, this document has been duly signed by the hornu ooi05 on or as of the day and year first above written. In the presence of: • td(C� �lit Hilda Garcia Signature, Name of Witness (Print) 11423 N. Dale Mabry Hwy. Tampa, FL 33618 Address of Witness (Si gt ture of Witness - l c -k S,4,.JY7I/1'1 Name of Witness (Print) 77 / 471 41, 4/ STT Address of Witness 71- k 01-?ct b Homeowner — CARLO J. DAZA GILL k COvi4eJ G 1 I G Homeowner — DIANA K. CORTES CARRILLLO STATE OF FLORIDA.,Hillsborough ] COUNTY OFfPTEttAS 6 ] / The foregoinginstrument was acknowledged before me this 8 day of 3CAr1(X 9 , 2025 by IlrioS I24 v& i , and ©i‘nc.K fit' Cs c*`rlb , husband and wife, personally known to me or who have produced a drivers' license as identification. (NOTORIAL SEAL) 3 Signa of Notary Public