LAND USE RESTRICTION AGREEMENT HOME INVESTMENT PARTNERSHIP PROGRAM HOME BUYER - RESALE (2)KEN BURKE, CLERK OF COURT
AND COMPTROLLER PINELLAS COUNTY, FL
INST# 2025187699 07/01/2025 09:29 AM
OFF REC BK: 23213 PG: 2238-2240
DocType:AGM RECORDING: $27.00
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 PARTNERSHIPS PROGRAM
HOME BUYER -Resale
THIS AGREEMENT is entered into as of June , 2025, between Patricia Perafan, an unmarried person, 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 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 acquisition and rehabilitation of the fee simple
property (Project) on real property located in the City of Clearwater, Pinellas County, Florida described as: Lot 8, Block
"F", Oak Hills, according to map or plat thereof, as recorded in Plat Book 7, Page 66 of the Public Records of
Pinellas County, Florida.
which has the address of: 1537 Palmetto Street, Clearwater, FL 33755 (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 acquire and rehabilitate a single family unit
("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 Fifteenth (15th)
1
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
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.
2
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.
IN WITNESS WHEREOF, this document has been duly signed by the Purchaser on or as of the day and year first above
written.
In the presence of:
! 19 die
A.
Witness i a C/C.) Co wrt 5t. C( , r!• X375
i l CA
% h 1 %a k,
Sb All (ro-d2i94, L'-
�� Homeowner— Patricia Perafan
�
e 337"
STATE OF FLORIDA
COUNTY OF PINELLAS
The foregoing instrument was acknowledged before me by means /Physical presence or ❑ ons' a notarization, this _
day of (,(11 J, a'1 , 2025 by, who ❑ is/are personally known to me or Vwho has/have produced a
driver's license as identification.
My Commission exp
MIKELL L. ST. GERMAIN
MY COMMISSION # HH 591626
EXPIRES: September 24, 2028
3
.:�At M "
lic! `
f�lL‘i Lc(- 5T,G