RELEASE OF LAND USE RESTRICTION AGREEMENT HOME INVESTMENT PARTNERSHIPS PROGRAM (HOME PROGRAM)Prepared 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 PARTNERSHIPS PROGRAM (HOME PROGRAM)
KNOW ALL MEN BY THESE PRESENTS, that the City of Clearwater, Florida, a Florida municipal corporation, does
hereby release the property hereinafter described from a certain Land Use Restriction Agreement bearing the date of
November 26, 2024 and recorded on November 26, 2024 in O.R. Book 22986 Page 2468 of the Public Records of Pinellas
County, Florida; on said property and does hereby declare said Land Use Restriction Agreement fully satisfied. Said
property described in said Land Use Restriction Agreement is as follows:
Lot 79, Carolina Terrace Annex, according to the map or plat thereof, as recorded in Plat Book 12, Page 30 of the
Public Records of Pinellas County, Florida.
Commonly known as: 1107 Howard Street, Clearwater, FL 33755 Parcel I.D. 22-29-15-13680-000-0790
IN WITNESS WHEREOF, the City of Clearwater, Fl } ida in its corporate capacity, has caused this Release of Land Use
Restriction Agreement to be executed this ( ^ day of �I i.t 2025 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:
Matthew Mytych, Assist.1. City Attorney
STATE OF FLORIDA)
COUNTY OF PINELLAS)
CITY OF CL " ;;� TER, I RIDA
By:
N( Jennifer Poirri
Attest:
, City ana
Rosema
AM-kt4 GOA pot,Si b►r
T fore oing instrument was acknowledged efore me by means of lAphysical presence or ❑ online notarization,
this SC $ (date) by r___:` - Poirri r, the ity Manager of the City of Clearwater, Florida, who is personally
known to me or who has produced ? (type of identification) as identification.
WITNESS my hand and official seal this . p day of T & uJ —, 2025
all,
ty
My commission expires:
IA) !1-bir
upsAylia
Notary Public (type or print name below)
Courtney M. Holzwarth
�'.% Comm.: HH 387361
Expires: April 17, 2027
Nota'/ P lic - Stole of Florin'
Z1y
Prepared by: Matthew J. Mytych, Es
Return to: Terry Malcolm -Smith
City of Clearwater
Economic Development & Housing
P.O. Box 4748
Clearwater, FL 33758-4748
a'lv7o/oC.
q.
Department
CITY OF CLEARWATER
1107 Howard Street, Clearwater, Florida 33756
KEN BURKE, CLERK OF COURT
AND COMPTROLLER PWIELLAS COUNTY, FL
INSTN 202429685811/26/2024 03:44 PM
OFF REC BK: 22986 PG: 2460,2476
DocType:AGM RECORDING: $T8.00
ECONOMIC DEVELOPMENT AND HOUSING DEPARTMENT
LAND USE RESTRICTION AGREEMENT
HOME INVESTMENT PARTNERSHIPS PROGRAM
THIS LAND USE RESTRICTION AGREEMENT (this "Agreement"), is made on November 26, 2024,
by and between CLEARWATER NEIGHBORHOOD HOUSING SERVICES INC, a Florida not-for-
profit corporation ("Borrower") its successors, assigns, and transferees of the project described below,
whose mailing address is 608 N Garden Avenue, Clearwater, FL 33755, and THE CITY OF
CLEARWATER, FLORIDA, a Florida municipal corporation (the "City"), whose mailing address is P.O.
Box 4748, Clearwater, Florida 33758-4748.
WHEREAS, Borrower shall construct a single-family dwelling on certain real property located at
1107 Howard Street, Clearwater, Florida 33756 (the "Property") for the development of an affordable
single-family unit for a low or moderate income homebuyer described herein (the "Project") and agrees
with the City that the real property, which is subject to a mortgage and note executed on even date with this
Agreement (the "Mortgage" and "Note" respectively) and shall be subject to the restrictive covenants set
forth herein; and
WHEREAS, Borrower shall cause to be improved in accordance with the plans and specifications
and any amendments thereto previously submitted by the Borrower to the City and which have been
approved by the City; and
WHEREAS, Borrower agrees that the restrictive covenants shall remain in full force and effect
against the real property until the end of the affordability period as provided herein; and
WHEREAS, this Agreement shall be properly filed and recorded by the City in the Official Public
Records of Pinellas County, Florida, 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 funds the City has provided to Borrower for a loan to
finance the construction of the affordable single-family unit, including closing costs, and other related cost
as associated with the project in the City of Clearwater, Pinellas County, Florida, described as: Legal
Description attached as Exhibit "A". (also described as Parcel Number: 22-29-15-13680-000-0790,
Borrower will comply, and will require any subsequent purchaser of the Property to comply with the
following:
Borrower acknowledges that this Agreement is necessary to comply with the affordability requirements of
the HOME program stated at 24 CFR § 92.254, from which funds were obtained to finance such loan.
Borrower covenants and agrees that in connection with the construction of the single-family home, the City
should approve any transfer or sale of the subject property.
Clearwater Neighborhood Housing Services Inc
HOME Investment Partnerships Land Use Restriction Agreement Page I
.07 Howard Street, Clearwater, Florida 30
1. Covenants and Restrictions on Use of Funds. HOME Investment Partnerships Program
allocations provided to this project will be used for construction of the real property plus
permissible closing costs. During the Period of Affordability as defined herein, the unit shall be
sold to a homebuyer having annual income which does not exceed eighty percent (80%) of the
median family income for the area, as determined and made available by the U.S. Department of
Housing and Urban Development (HUD) with adjustments for smaller and larger families at the
time of purchase of the home (an "Eligible Homebuyer"). If there is not a ratified sales contract
with an eligible homebuyer for the housing unit within nine (9) months of the date of completion,
the housing unit must be rented to an eligible tenant (an "Eligible Tenant") in accordance with 24
CFR §92.252. The home must be the principal residence of the Eligible Homebuyer. The income
of the persons who will occupy the unit shall be verified by the Borrower by obtaining third -party
verification of current income and verification of assets. Source documentation evidencing annual
income may include wage statements, interest statements, unemployment compensation
statements, and other documentation approved by the City. In the event that neither of the above
methods is suitable, the Borrower may use other methods acceptable to the City to verify income.
Annual income for the purpose of this Agreement shall be as defined by HUD for the HOME
Program. The value of the HOME -assisted unit shall not exceed ninety-five percent (95%) of the
median purchase price for that type of single-family housing for the area. The maximum per-unit
subsidy amount shall not exceed the per -dollar limits established under HUD. The person or
persons purchasing the single-family home shall have fee simple title to the property.
(a) During the period of affordability, the single-family housing unit must be occupied by the
original low to moderate -income homebuyer. In the event that the homebuyer chooses to
sell the property, the homebuyer must sell the Property to another eligible low- and
moderate -income homebuyer and who will use the Property as its principal residence. If
the original homebuyer sells, either voluntarily or involuntarily, during the affordability
period, the homebuyer may receive a fair return on investment.
(b) All proceeds, program income, and recaptured funds associated with the Project shall be
returned to the City of Clearwater within thirty (30) days of receipt by the Borrower.
(c) Any noncompliance with the requirement of this Section shall be corrected within thirty
(30) days after such error is first discovered or would have been discovered by the exercise
of reasonable diligence.
2. Affordability Period. The Affordability Period shall commence upon the date of this Agreement
and end on the fifteenth (15th) year after sale to an Eligible Homebuyer or rental to an Eligible
Tenant. This Agreement shall remain in effect until the end of the Affordability Period.
3. Property Standards. The single-family housing unit shall meet and maintain all applicable local
codes, the International Property Maintenance Code, the Florida Building Code, ordinances, and
zoning ordinances at the time of project completion. The HOME -assisted housing unit must meet
all applicable State and local housing quality standards, code requirements, and accessibility
requirements at 24 CFR Part 8, which implements Section 504 of the Rehabilitation Act of 1973
and 24 CFR § 100.20, and must also meet the design and renovation requirements at 24 CFR
§ 100.205, which implements the Fair Housing Act. Design of house must meet the International
Energy Conservation Code (formerly known as the Model Energy Code).; the City also highly
encourages the use of ENERGY STAR® qualified products, including natural gas where available,
in all developed housing.
Clearwater Neighborhood Housing Services Inc
HOME Investment Partnerships Land Use Restriction Agreement Page 2
107 Howard Street, Clearwater, Florida 3.
4. Location of HOME -Assisted Unit. The location of the unit is as follows: 1107 Howard Street,
Clearwater, Florida 33756. The Borrower agrees that there will be no material changes to the
design of the project after initial commitment by the City without assurances provided by Borrower
and approved by City that the proposed changes will not adversely affect the HOME -assisted unit
or any provision of this Agreement.
5. No Discrimination. The Borrower shall not discriminate, as defined by Federal Statutes, on the
basis of race, creed, color, sex, age, or national origin in the occupancy of the HOME -assisted unit
or in connection with the employment or application for employment of persons for the operation
and management of the project.
6. Affirmative Marketing Efforts. The Borrower will follow the affirmative marketing procedures
and requirements for the HOME Program to attract an Eligible Homebuyer in the housing market
area to the available housing without regard to race, color, national origin, sex, religion, familial
status, or disability.
7. Environmental Reviews. Each HOME -assisted project must be assessed for environmental
effects in accordance with the provisions of the National Environmental Policy Act of 1969
(NEPA) and related authorities listed in HUD's implementing regulations at 24 CFR Parts 50 and
58.
8. Displacement, Relocation, and Acquisition. The Borrower will take reasonable measures to
minimize displacement of persons as a result of the project being assisted with HOME funds in
accordance with the requirements of the Uniform Relocation Assistance and Real Properties
Acquisition Act. The Borrower shall be responsible for any relocation expenses incurred without
the City of Clearwater approval.
9. Labor. The Borrower shall be responsible for maintaining the prevailing wage rates for HOME -
assisted projects with 12 or more units in accordance with the Davis -Bacon Act (40 U.S.C. 276a -
276a -5).
10. Lead -Based Paint. The Borrower shall be responsible for maintaining that the HOME -assisted
unit meets the requirements listed in the Lead -Based Paint Poisoning Prevention Act and 24 CFR
Part 35.
11. No Conflicts with Other Documents. The Borrower warrants that it has not, and will not, execute
any other agreement with provisions contradictory to, or in opposition to, the provisions hereof,
and that, in any event, the requirements of this Agreement are paramount and controlling as to the
rights and obligations herein set forth and supersede any other requirements in conflict herewith.
12. Requests for Disbursement of Funds. The Borrower shall request funding for the HOME -
assisted project from the City on an as -needed basis.
13. Records. The Borrower shall retain all records pertaining to Project for a period of five (5) years
after audit and/or resolution of audit findings involving this loan. The Borrower shall maintain
accurate information regarding the occupancy for each HOME -assisted unit during the term of the
affordability period and, at the request of the City, shall submit this information to the City for the
City's review and comment. The Borrower shall maintain documentation substantiating
compliance with affirmative marketing requirements. These Project records shall be made
available to the City, U.S. Department of Housing and Urban Development and/or representatives
of the Comptroller General of the United States for audit, inspection, or copying purposes during
Clearwater Neighborhood Housing Services Inc
HOME Investment Partnerships Land Use Restriction Agreement Page 3
4107 Howard Street, Clearwater, Florida 30
normal business hours. The Owner shall maintain project records that include:
(a) A description of the Project assisted with HOME funds, including the location and form
of HOME assistance.
(b) The source and application of funds for each project, including supporting
documentation in accordance with 2 CFR §200.302 and §200.303.
(c) Records demonstrating the homeownership project meets the minimum per-unit subsidy
in accordance with 24 CFR §92.205(c) and §92.250(a) and subsidy guidelines adopted
in accordance with 24 CFR §92.250(b).
(d) Records demonstrating the homeownership project meets the property standards in
accordance with 24 CFR §92.251 and the lead-based paint requirements in accordance
with 24 CFR §92.355.
(e) Records demonstrating the person or persons purchasing the HOME -assisted unit are
income eligible in accordance with 24 CFR §92.203.
(f) Records demonstrating the purchase price or estimated value after construction for the
homeownership project does not exceed 95% of the median purchase price for the area
in accordance with 24 CFR §92.254.
(g)
Records demonstrating the homeownership project meets the affordability requirements
of 24 CFR §92.254 for the required period.
(h) Records demonstrating compliance with the written agreements in accordance with
24 CFR §92.504.
(i)
Records demonstrating compliance with the applicable requirements in accordance with
24 CFR §92.505.
(j) Records documenting required inspections, monitoring reviews and audits, and the
resolution of any findings or concerns.
(k) Records documenting equal opportunity and fair housing requirements in accordance
with 24 CFR Part 100 Fair Housing Act and certifications according to 24 CFR §91.225,
§91.325, and §91.425 (certifications).
(1) Records documenting HOME -related financial activities.
(m)
Records documenting affirmative marketing and Minority Business Enterprise/Woman
Business Enterprise (MBE/WBE) activities.
14. Monitoring. The Borrower shall permit the City or its designee to inspect all records pertaining to
the unit upon reasonable notice and within normal working hours and shall submit to the City such
documentation, as required by the City, to document compliance with this Agreement and HOME
Program rules. If the project is new construction, the Borrower shall provide the required
documentation monthly, until the HOME -assisted unit is sold.
Clearwater Neighborhood Housing Services Inc
HOME Investment Partnerships Land Use Restriction Agreement Page 4
•07 Howard Street, Clearwater, Florida 30
15. Successors Bound. This Agreement and the covenants contained herein shall run with the land
and shall bind, and the benefits shall inure to, respectively, the Borrower and its successors and
assigns and all subsequent owners of the project or any interest therein, and to the City for the
Period of Affordability set forth in this Agreement.
16. Enforcement of Terms. The benefits of this Agreement shall inure to, and may be enforced by,
the City during the Period of Affordability, whether or not the City shall continue to be the holder
of the Mortgage, whether or not the project loan may be paid in full, and whether or not any bonds
issued for the purpose of providing funds for the project are outstanding.
17. Conflict of Interest. The Borrower warrants that no person who exercises or exercised any
functions or responsibilities with respect to HOME activities, or who is in the position to participate
in decisions or gain inside information, may obtain a financial interest or benefit from a HOME
activity; or have an interest in any contract, subcontract, or agreement for themselves or for persons
with business or family ties.
18. Conditions of Religious Organizations. HOME funds may be used for rehabilitation or
construction of housing that is owned by primarily religious organizations and to assist primarily
religious organizations in acquiring housing provided the agreement includes the conditions
prescribed in 24 CFR §5.109 for the use of HOME funds by religious organizations.
19. OMB Guidance for Federal Financial Assistance. If the owner of the HOME -assisted project is
a not- for-profit organization, the owner agrees to comply with applicable federal administrative
requirements and provisions of 2 CFR Part 200 for government entities, or applicable provisions
of 2 CFR Part 200 Subpart E for non-profit entities.
20. Severability. The invalidity of any clause, part, or provision of this Agreement shall not affect the
validity of the remaining portion thereof.
21. Notice. All notices provided for herein shall be sent by certified or registered return receipt
requested mail, or by a nationally recognized overnight courier, addressed to the appropriate party
at the address designated for such party in the preamble to this Agreement, or such other address
as the party who is to receive such notice may designate in writing. Notice by mail shall be
completed by depositing the same in a letterbox or other means provided for the posting of mail
addressed to the party with the proper amount of postage affixed thereto. Actual receipt of notice
shall not be required to effect notice hereunder. Notices sent by a nationally recognized overnight
courier service shall be deemed delivered the next business day after deposit with such courier
unless the records of such courier indicate a later delivery in which case the notice shall be deemed
received on the date of delivery.
22. Defaults and Remedies. If the Borrower 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 to after providing written notice of default and thirty (30) days to cure, in
addition to all other remedies provided by law or in equity.
(a) To compel specific performance by the Borrower of its obligations under this Agreement,
it being recognized that the beneficiaries of Borrower obligations hereunder cannot be
adequately compensated by monetary damages in the event of Borrower's default.
(b) To cause the Borrower to pay to the City an amount equal to all HOME funds loaned to
Borrower, less any principal balance previously repaid by Borrower, if any HOME -assisted
Clearwater Neighborhood Housing Services Inc
HOME Investment Partnerships Land Use Restriction Agreement Page 5
110 07 Howard Street, Clearwater, Florida 3.1
unit is knowingly or negligently rented to persons who do not comply with the requirements
for such unit.
(c) In addition, to these remedies, a default by the Borrower hereunder shall constitute a default
under the Construction Loan Agreement, the HOME Investment Partnership Agreement,
Mortgage, and Note (all of even date herewith), which will enable the City, after notice and an
opportunity to cure as therein provided, to accelerate the Borrower's loan and take such other
actions as may be permitted under the terms of the aforementioned documents.
Clearwater Neighborhood Housing Services Inc
HOME Investment Partnerships Land Use Restriction Agreement Page 6
007 Howard Street, Clearwater, Florida 3
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly
authorized officials on the date and year first above indicated.
(CITY SIGNATURE PAGE)
Approved as to Form:
Matthew J. Mytych, Esq.
Assistant City Attorney
Date: I /116V°1
City of Clearwater, Florida,
a Florida municipal corporation.
Jenni r ''oi ier
City Manager
Date: 171/V4?1Y1b I I -I,
Attest:
eivtRJzrt_ 0411-J2—
Rosemarie Call
City C
Date: 6W417161 /--)61)—Si
Clearwater Neighborhood Housing Services Inc
HOME Investment Partnerships Land Use Restriction Agreement Page 7
4007 Howard Street, Clearwater, Florida 311
(BORROWER SIGNATURE PAGE)
Mikell St Germain
Name of Witness l('i'�ii tourt Jtreet
Clearwater, FL 33756
Address of Witness
Signature of Witness
Edina McGuire
Name of Witness 1290 Court Street
Clearwater, FL 33756
Address of Witness
STATE OF FLORIDA
COUNTY OF PINELLAS
Clearwater Neighborhood Housing Services Inc, a
Florida not-for-profit corporation.
By: Efrain Cornier, Jr, President/CEO
The foregoing itrument was acknowledged before me by means u physical presence or ❑ online notarization,
this aeday ofAjap.Q' , 2024 by Efrain Cornier, Jr., President/CEO of Clearwater Neighborhood
Housing Services Inc, who ❑ is/are personally known to me or Ai has/have produced a driver's license as
identification.
`•�" MIKELL L. ST. GERMAIN
MY COMMISSION # HH 591626
EXPIRES: September 24, 2028
(NOTARIAL SEAL)
c�V
Nota r Public, St,,c of Florida_ALIA
Name of Notary:
5T,
My Commission Expires:
My Commission No.
Clearwater Neighborhood Housing Services Inc
HOME Investment Partnerships Land Use Restriction Agreement Page 8
007 Howard Street, Clearwater, Florida 30
Exhibit "A"
Legal Description
Legal Description: Lot 79, Carolina Terrace Annex, according to the map or plat thereof, as recorded in
Plat Book 12, Page 30 of the Public Records of Pinellas County, Florida.
Parcel I.D. No.: 22-29-15-13680-000-0790
Clearwater Neighborhood Housing Services Inc
HOME Investment Partnerships Land Use Restriction Agreement Page 9
I#: 2025222342 BK: 23250 PG: 2230, 08/04/2025 at 11:26 AM, RECORDING 5 PAGES
$44.00 KEN BURKE, CLERK OF COURT AND COMPTROLLER PINELLAS COUNTY, FL BY
DEPUTY CLERK: c1k105358
•
Nw h ateh
rNea..
Prepared by: Matthew J. Mytych, Esq.
City of Clearwater
Dept. of Economic Development & Housing
P.O. Box 4748 (��b
Clearwater, FL 33758�� pJ
LAND USE RESTRICTION AGREEMENT
HOME INVESTMENT PARTNERSHIPS PROGRAM
HOME BUYER
THIS LAND USE RESTRICTION AGREEMENT (this "Agreement") is entered into on July 31, 2025 by and
between Huwayne Larman, a a single man, whose address is 1107 Howard St, Clearwater, FL 33756 (the
"Borrower") and the City of Clearwater, Florida, a Florida municipal corporation, whose mailing address is P.O.
Box 4748, Clearwater, Florida 33758-4748 (the "City").
WHEREAS, the Borrower is purchasing certain real property located at 1107 Howard St, Clearwater,
FL 33756 (the "Property") which is the subject of a mortgage and note executed by the Borrower of even date
herewith (the "Mortgage" and the "Note" respectfully); and
WHEREAS, the Borrower agrees that the restrictive covenants described herein shall remain in full force
and effect against the Property until the end of the Period of Affordability provided herein; and
WHEREAS, these covenants shall be properly filed and recorded by City in the Official Public Records
of Pinellas County, Florida and shall constitute a valid restriction upon the use of the Property subject to and in
accordance with the terms contained herein; and
NOW THEREFORE, in consideration of the funds the City has provided to the Borrower for a loan to
finance the down payment, closing costs, and gap assistance (if applicable) for the Property (the "Loan" or the
"HOME Funds"), the City and the Borrower hereby agree as follows:
1. Recitals. The recitals set forth above are true and correct and are incorporated herein and made part of this
Agreement.
2. Legal Description: The Property is legally described as provided in Exhibit "A" attached hereto.
3. Borrower Acknowledgement. The Borrower acknowledges that the restrictive covenants contained in this
Agreement are necessary to comply with the requirements of the HOME Investments Partnership Program
stated at 24 CFR §92.254 from which funds were used to provide homeownership assistance financing
through the City and its partners.
4. Covenants and Restrictions on Use of HOME Funds. The HOME Funds provided to the Borrower will be
used for homeownership assistance for the acquisition of the Property. At the time of the application for the
Loan, the Borrower's annual income should not exceed eighty percent (80%) of the area median income
("AMI"), 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 Borrower.
Revised: May 2025 Page 1 of 5
PINELLAS COUNTY FL OFF. REC. BK 23250 PG 2231
5. The value of the HOME -assisted unit shall not exceed ninety-five percent (95%) 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 22l(d)(3)(ii) of the National Housing
Act.
6. The Borrower shall have fee simple title to the Property.
7. Period of Affordability. For the purpose of this Agreement, the Period of Affordability shall be a period
beginning when the HOME Funds are invested and ending at the end of Fifteen (15) years thereafter. This
Agreement shall terminate at the end of the Period of Affordability.
8. During the Period of Affordability, the HOME -assisted 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
recapture of the HOME Funds. 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.
9. Recapture. The City will use this recapture provision for repayment of the Loan should the Borrower not
comply with the Period of Affordability or any other provision in the mortgage, note, or other covenant related
to the loan. In the event of default, the Borrower shall repay the City in accordance with the following:
A. Upon voluntary conveyance of the home, the City shall recapture from the net proceeds of the sale, the
unpaid balance of the HOME Funds. If the Property is transferred without a sale, the City shall recapture
the unpaid balance of the HOME Funds.
B. After the City has been repaid the unpaid balance of the HOME funds, the Homebuyer may then recover
their initial investment of the remaining net proceeds from the sale. The initial investment shall include
the amount they contributed to the down payment when the Property was initially purchased and any
documented permanent improvements made to the Property at time of acquisition.
C. Any balance of the net proceeds remaining after repayment of the unpaid balance of the City's HOME
funds and the Homebuyer's recoupment of their initial investment shall be divided proportionally between
the Homebuyer and the City in accordance with each parties' initial investment percentage in the Property
compared to each other. The City's initial investment percentage shall be calculated to include all grants
and loans of HOME or other City funds provided to the Homebuyer, minus any repayments previously
made to the City.
Pursuant to 24 CFR § 92.254(a)(5)(ii), Under no circumstances may the City recapture funds exceeding
the net proceeds. The net proceeds are the sales price minus superior loan repayment (other than HOME
funds) and any closing costs.
Notwithstanding the above provision, the City may recapture the unpaid balance HOME Funds should the
Homebuyer otherwise default under the terms of any mortgage, note, land use restriction agreement, or
any other agreement or covenant executed in connection with the acquisition.
2
PINELLAS COUNTY FL OFF. REC. BK 23250 PG 2232
•
10. In the event the Property is conveyed pursuant to a foreclosure sale, the provisions of 24 CFR. § 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.
11. Successors Bound. This Agreement and the covenants contained herein shall run with the Property and shall
bind, and the benefits shall inure the Borrower, their successors and assigns, and all subsequent owners of the
Property.
12. 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, the 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 Agreement has been duly signed by the Borrower and the City on the date
and year first above written.
Approved as to form:
Assistant City Attorney
Date: ]/ 31/13
(CITY OF CLEARWAlER SIGNATURE PAGE)
3
CITY OF CLEARWATER, FLORIDA,
a Florida municipal corporation.
By:
Jenni%r Poirrier
City . s ager
Date:
"fOr Ros - .. a Call
City Clerk
Date:
1•3t.a5
PINELLAS COUNTY FL OFF. REC. BK 23250 PG 2233
•
(BORROWER SIGNATURE PAGE)
Signed, sealed, and delivered in the presence of:
*Note: two witnesses are required*
Witnes's #1 Signature
Print Name: Mikell St Germain
1290 Court Street
Clearwater, FL 33756
Address:
Witness #2 Signa
Print Name:
Address D �(��
Borrower: Huwayne Larman
Print Name: it ktoa.y n
Date: rl/7 t ;1Da�
STATE OF 0. )
COUNTY OF 'V 1J S )
The foregoing instrument was acknowledged before me by means of it hysical presence or o online notarization,
this 3) day of , 2025 by 4-U uta qr La rmM'\ who is o personally known to me or 6�
who has produced �1,1 A/' �,a��j>,,�� as identification.
(NOTARIAL S
MIKELL L. ST. GERMAIN
MY COMMISSION # HH 591626
EXPIRES: September 24, 2028
Notary Public, S _
Name of Notary:
My Commission Expires:
My Commission No.:
4
PINELLAS COUNTY FL OFF. REC. BK 23250 PG 2234
EXHIBIT "A"
LEGAL DESCRIPTION
Lot 79, Carolina Terrace Annex, according to the map or plat thereof, as recorded in Plat Book 12, Page(s) 30, of
the Public Records of Pinellas County, Florida.
5