LAND USE RESTRICTION AGREEMENT- STATE HOUSING INITIATIVES PARTNERSHIP PROGRAMPrepared by:
Matthew J. Mytych, Esq.
Return to: Terry Malcolm -Smith
City of Clearwater
Economic Development & Housing Department
P.O. Box 4748
Clearwater, FL 33758-4748
CITY OF CLEARWATER
ECONOMIC DEVELOPMENT & HOUSING
LAND USE RESTRICTION AGREEMENT
STATE HOUSING INITIATIVES PARTNERSHIP PROGRAM
THIS LAND USE RESTRICTION AGREEMENT (this "Agreement") is made on November
14, 2025, by and between Community Service Foundation, Inc., a Florida not-for-profit corporation
("Borrower"), whose mailing address is 925 Lakeview Road, Clearwater, Florida 33756, 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 intends to rehabilitate seven (7) single-family dwelling units on certain
real property which it holds a leasehold interest in located at 1101 Woodlawn Street; 1115 Woodlawn
Street; and 1119 Woodlawn Street, Clearwater, FL 33756 (the "Leasehold Property") for the
preservation of affordable housing for low-income tenants as further described herein (the "Project")
and agrees with the City that the Leasehold Property shall be subject to the restrictive covenants set
forth herein; and
WHEREAS, Borrower shall cause the Leasehold Property to be improved in accordance with
the plans, specifications, and any amendments thereto previously submitted by Borrower to and
approved by the City, and
WHEREAS, Borrower agrees that the affordability restrictions contained in this Agreement
shall remain in full force and effect against the Leasehold Property until the end of a 15 -year
affordability period; and
WHEREAS, this Agreement is executed in connection with a loan made by the City to
Borrower in the amount of Sixty Seven Thousand Three Hundred Four Dollars and 45/100 Cents
($67,304.45) (the "New Loan"), as evidenced by that certain Amended and Restated Promissory Note
with a total principal amount of One Hundred Eighty Thousand Six Hundred Thirty -Six Dollars
and 16/100 Cents ($180,636.16), representing the amount of the New Loan and the amount owed on
a previous loan to Borrower, executed on even date herewith (the "Note) and secured by that certain
mortgage dated June 8, 2017, as modified by that certain Mortgage Modification Agreement executed
on even date herewith (collectively the mortgage and the Mortgage Modification Agreement are the
"Mortgage"); and
WHEREAS, this Agreement shall be properly filed and recorded by the City in the Public
Records of Pinellas County, Florida and shall constitute a restriction upon the use of the Leasehold
Property subject to and in accordance with the terms contained herein; and
NOW, THEREOF in consideration of the funds the City has provided to Borrower to finance
the Project and other related costs, the City and Borrower agree as follows:
1. Recitals. The recitals set forth above are true and correct and are incorporated herein and
made a part of this Agreement.
1
2. Legal Description. The Leasehold Property is legally described in Exhibit "A" attached
hereto.
3. Borrower Acknowledgement of SHIP Requirements. Borrower acknowledges that this
Agreement is necessary in order to comply with the requirements of the SHIP Program, as
stated at Chapter 67-37 Florida Administrative Code and Sections 420.907-420.9089 Florida
Statutes, as may be amended from time to time, from which funds were obtained to finance
such loan, or a portion thereof, and hereby covenants and agrees, it will comply, and will require
any subsequent purchaser of the Leasehold Property to comply, with the following covenants
and restrictions on the use of the Leasehold Property.
4. Affordability of Assisted Units. During the Affordability Period, as defined in Section 5, the
seven (7) units to be rehabilitated on the Leasehold Property shall be SHIP -assisted units (the
"SHIP Units"). The SHIP Units shall be or held available for rental on a continuous basis to
persons or families who, at the commencement of the occupancy by tenants of such units, shall
have annual income which do not exceed unit set-aside requirements as follows:
The SHIP Units shall be rented or held available for rental by persons having an annual
household income which does not exceed eighty percent (80%) of the area median income
("AMI") as defined by the Department of Housing and Urban Development ("HUD"), with
adjustments for family size.
Rent limits for the SHIP Program are revised annually and are available from the Florida
Housing Finance Corporation (the "FHFC"). In the event that the SHIP designated rents should
be reduced in any given year, Borrower is not required to accept rents lower than rents in the
initial contract or agreement with the tenants. Rents are not considered to be program income
under this Agreement.
5. Affordability Period. For the purpose of this Agreement, the affordability period for the SHIP
Units shall commence upon the date of execution of this Agreement and end fifteen (15) years
after completion of the Project, or the duration of SHIP -assisted financing, whichever is longer
(the "Affordability Period").
6. Tenant Income. Borrower shall determine and verify the income eligibility of tenants in
accordance with the HUD Section 8 Program definition of annual (gross) income in 24 CFR
Part 5. Income shall be calculated by annualizing verified sources of income for the household
as the amount of income to be received by a household during the twelve (12) months following
the effective date of the determination. Annual income, as defined in Section 420.9071(4), F. S,
must be used and the SHIP Program limits cannot be exceeded. Borrower shall maintain
complete and accurate income records pertaining to the tenants occupying SHIP Units. At a
minimum, records for each occupied SHIP Unit shall contain the following documentation:
A. The tenant's complete application and related information including the name of each
household member, proof of identity and employment, income and asset information
for each household member;
B. A copy of the lease agreement listing the term of tenancy and each tenant residing in
the unit;
C. Verification of income of each tenant as is acceptable under Section 8 of the U.S.
Housing Act of 1937, as amended;
D. Information as to the assets owned by each tenant, and;
2
E. Tenant Income Certification Form TIC -1, Rev.02/2015
Borrower shall recertify the income of existing tenants annually following the same procedures
as at initial certification. A tenant's income is likely to change over time. If these changes occur
during the Affordability Period, Borrower must take steps to maintain compliance with SHIP
Program rent and occupancy requirements.
7. Tenant Leases and Protections. Borrower shall comply with the provisions of the Landlord
Tenant Act defined in Chapter 83, Part II of the Florida Statutes, and City requirements which
prohibit certain lease terms. The tenant lease for SHIP Units shall be expressly subordinate to
the Mortgage and shall contain clauses, among others, wherein each individual lessee:
A. Agrees that the household income, household composition and other eligibility
requirements shall be deemed substantial and material obligations of tenancy; that tenant
will comply promptly with all requests for information with respect thereto from
Borrower and City, and that tenant's failure to provide accurate information about
household income or refusal to comply with a request for information with respect thereto
shall be deemed a violation of a substantial obligation of his/her tenancy;
B. Agrees not to sublease to any person or family who does not meet income qualifications
as determined, verified, and certified by Borrower; and
C. Agrees that the lease shall be for a one-year period, unless other terms are mutually agreed
upon by Borrower and tenant.
8. Nondiscrimination. Borrower shall not discriminate, as defined by state or federal statute, or
by local ordinance, on the basis of race, creed, color, age, sex, familial status, pregnancy,
disability, religion, or national origin in the leasing, use or occupancy of the SHIP Units or in
connection with the employment or application for employment of persons for the operation
and management of the Leasehold Property. Neither Borrower nor any property manager
("Manager") shall illegally discriminate against tenants or prospective tenants solely because
the prospective tenant is eligible to receive rental assistance. Borrower and Managers shall not
refuse to lease units to a certificate or voucher holder under HUD Section 8 Rental Certificate
or Voucher Programs or to the holder of a comparable document evidencing participation in a
tenant -based rental assistance program solely because the prospective tenant is a holder of such
certificate, voucher, or comparable tenant -based assistance document. Neither Borrower nor
Manager shall discriminate against tenant or prospective tenant during or after the solicitation
process, and shall use their best effort to ensure that the tenant is provided with a living
environment free from harassment or discrimination by vendors, or providers of any services
associated with the assisted housing units.
9. Monitoring and Inspection. Borrower shall permit the City, or its designee to inspect all
records, including but not limited to financial statements, pertaining to the SHIP Units 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 SHIP
Program rules. Borrower acknowledges that the City, or its designee must, from time to time,
inspect each SHIP Unit for compliance with Housing Quality Standards (as defined by HUD
for the Section 8 Program) and local code requirements, and agrees to facilitate such inspections
with tenants as necessary.
3
The City shall, from time to time, make or cause to be made inspections of the SHIP Units and
property rental records to determine compliance with the conditions specified herein. The City
shall notify Borrower prior to scheduled inspections, and Borrower shall make any and all
necessary arrangements to facilitate the City's inspection. The City may make, or cause to be
made, other reasonable entries upon and inspections of the Leasehold Property, provided that
the City shall give Borrower notice prior to any such inspection, specifying reasonable cause
therefore, related to the City's interest in the Leasehold Property.
10. Annual Compliance Monitoring of Project. Compliance monitoring of the Project shall be
the responsibility of Borrower, to be performed by a compliance monitor approved by the City.
The compliance monitor shall be responsible for monitoring Borrower's compliance with
restrictions regarding the use or occupancy of the Project and ensure that all requirements are
satisfied on a continuing basis in accordance with this Agreement.
11. Corrective Actions. Should the City determine that the Leasehold Property is not in
compliance with the requirements of this Agreement, the City shall give Borrower written
notice of the deficiency, after which time Borrower shall have thirty (30) days in which to bring
the Leasehold Property into compliance. Should Borrower fail to bring the Leasehold Property
into compliance within the specified time, the City shall immediately declare Borrower in
default of this Agreement, as well as the Mortgage(s) and the terms and conditions of which are
incorporated herein by reference.
12. Defaults; Remedies. If Borrower fails 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 Borrower of its obligations under this Agreement, it
being recognized that the beneficiaries of Borrower's obligations hereunder cannot be
adequately compensated by monetary damages in the event of Borrower's default.
B. To rescind any and all incentives, either regulatory and/or financial, provided to Borrower.
C. To cause Borrower to pay the City an amount equal to all funds loaned to Borrower, less
any principal balance previously repaid by Borrower, if any SHIP Unit is knowingly or
negligently rented to persons who do not comply with the requirements for such unit. No
monetary penalty shall be assessed if Borrower promptly and in good faith acts to correct
and preclude the recurrence of errors.
D. In addition to these remedies, a default by Borrower hereunder shall constitute a default
under the Mortgage, which will enable the City thereunder, after notice and an opportunity
to cure as therein provided, to accelerate Borrower's loan or grant and take such other
actions as may be permitted under the terms of the Mortgage and this Agreement.
13. Notice. Except for any notice required under applicable law to be given in another manner, (a)
any notice to Borrower provided for in this Agreement shall be given by mailing such notice
by certified mail, return receipt requested, to Borrower's address stated herein, or at such other
address as Borrower may designate by notice to the City as provided herein, (b) any notice to
the City shall be given by certified mail, return receipt requested, to the City's address stated
herein or at such other address as the City may designate by notice to the Owner as provided
herein, and (c) any notice to the City shall be given by certified mail, return receipt requested,
to the City at Official Records and Legislative Services Department, P 0 Box 4748, Clearwater,
4
Florida 33758-4748. Any notice provided for in this Agreement shall be deemed to have been
given to Borrower or City when given in the manner designated herein.
14. 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, Borrower and its successors and assigns and all subsequent owners of the
Leasehold Property or any interest therein, and to the City for the Affordability Period set forth
in this Agreement. Borrower shall expressly make the conditions and covenants of this
Agreement a part of any deed or other instrument conveying any interest in the Leasehold
Property, and assisted unit.
15. No Conflict with Other Documents. Borrower warrants that it has not, and will not, execute
any other contract or 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.
16. 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.
17. 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, 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. Breach of these terms during the Affordability Period shall result in recapture of
all SHIP funds expended on the Project.
5
IN WITNESS WHEREOF, the parties hereto have caused their Agreement to be executed by their
duly authorized officials on the date and year first above indicated.
(BORROWER SIGNATURE PAGE)
Community Service Foundation, Inc., WITNESSES (Two Required):
a Florida not for profit Corporation. (Type or print names under signature.)
Edward Thiebe, Executive Director Witness Name
Date:
Print Name
Address
Witness Name
Print Name
Address
State of Florida
County of Pinellas
The foregoing instrument was acknowledged before me by means of physical presence or
online notarization, this day of , 2025 by Edward Thiebe, as Executive
Director, of Community Service Foundation Inc., who is personally known to me or who
has produced a driver's license as identification.
Notary Public, State of Florida
(NOTARIAL SEAL) Name of Notary:
My Commission Expires:
My Commission No.:
6
(CITY SIGNATURE PAGE)
City of Clearwater, Florida,
a Florida municipal corporation.
Approved as to Form:
Matthew J. Mytych, Esq.
Assistant City Attorney
Date: "/0/95
Je
City Manager
Date: 11•l'3'�S
Attest:
'p(. Rose an - Call
City Clerk
Date: II • 11 1,25
Exhibit "A"
Legal Description
Parcel 1:
The East 100 feet of Lot 1, Less the North 10 feet thereof, of A.H. DUNCAN'S RESUBDIVISION of
the West 1/4 of the Southeast 1/4 of Section 22, Township 29 South, Range 15 East, according to the
Plat thereof, as recorded in Plat Book 5, on Page 70, of the Public Records of Pinellas County,
Florida.
Parcel 2:
The West 118.13 feet of Lot 1, Less Right -of -Way, A. H. DUNCAN'S RESUBDIVISION, according
to the Plat thereof, as recorded in Plat Book 5, Page 99 of the Public Records of Pinellas County,
Florida, in Section 22, Township 29 South, Range 15 East.
Parcel 3:
The East 27.0 feet of the West 1/2 of Lot 1 and the West 55.0 feet of the East 1/2 of Lot 1 of A. H.
DUNCAN'S RESUBDIVISION, as recorded in Plat Book 5, Page 99, Public Records of Pinellas
County, Florida, Less and Except Right -of -Way to the North.
Parcel Number: 22-29-15-22932-000-0011, 22-29-15-22932-000-0012, 22-29-15-22932-000-0010
8
Prepared by: Matthew J. Mytych, Esq.
Return to: Terry Malcolm -Smith
City of Clearwater
Dept. of Economic Development & Housing
P.O. Box 4748
Clearwater, FL 33758
THIS MORTGAGE MODIFICATION AGREEMENT SECURES AN AMENDED AND
RESTATED PROMISSORY NOTE IN THE AMOUNT OF $180.636.16 DATED NOVEMBER
14, 2025. DOCUMENTARY STAMP TAXES ARE AFFIXED TO THE MORTGAGE
SECURING THE ORIGINAL PROMISSORY NOTE, WHICH MORTGAGE, WITH THE
PROPER DOCUMENTARY STAMP TAXES AFFIXED THERETO, WAS RECORDED IN
O.R. BOOK 19667, PAGE 1252 OF THE PUBLIC RECORDS OF PINELLAS COUNTY,
FLORIDA. ACCORDINGLY, THIS AGREEMENT IS SUBJECT TO FLORIDA
DOCUMENTARY STAMP TAXES ONLY FOR THE $67,304.45 OF ADDITIONAL
INDEBTEDNESS PURSUANT TO FLORIDA STATUTE SECTION 201.09.
MORTGAGE MODIFICATION AGREEMENT
This Mortgage Modification Agreement (this "Modification") is entered into as of November
14, 2025, by and between the CITY OF CLEARWATER, FLORIDA, a Florida municipal
corporation ("Mortgagee"), and COMMUNITY SERVICE FOUNDATION, INC., a Florida not-
for-profit corporation ("Mortgagor" and collectively with Mortgagee the "Parties").
WHEREAS, the Parties entered into that certain Mortgage dated June 8th, 2017 and
recorded on June 15th, 2017 in O.R. Book 19667, Page 1252 of the Public Records of Pinellas
County, Florida securing an original principal balance of Two Hundred Twenty -One Thousand
Two Hundred Sixty -Four Dollars and 00/100 Cents ($221,264.00) otherwise referred to as Loan
No. CFI -371 (the "Mortgage") encumbering the leasehold interest in the properties situated, lying
and being in Pinellas County, Florida, commonly known as 1101, 1115, and 1119 Woodlawn
Street, Clearwater, Florida 33756 and further described on Exhibit "A" attached hereto and made
part hereof with the parcel identification numbers as follows: 22-29-15-22932-000-0011, 22-29-15-
22932-000-0012, and 22-29-15-22932-000-0010 (the "Mortgaged Premises"); and
WHEREAS, the Mortgage and the underlying note (the "Note") now have a balance due of
One Hundred Thirteen Thousand Three Hundred Thirty -One Dollars and 71/100 Cents
($113331.71); and
WHEREAS, it has been agreed by and between the Parties, to modify the Mortgage and the
Note secured by the Mortgage, through this Modification.
NOW, THEREFORE, in consideration of the mutual covenants and conditions contained
herein and in consideration of the sum of $1.00 and other valuable consideration accruing to each of
the Parties, the Parties hereby agree as follows:
1. Recitals. The foregoing recitals are true and correct and are incorporated herein and form a
1
part of this Modification.
2. The Mortgage has a current principal balance of One Hundred Thirteen Thousand Three
Hundred Thirty -One Dollars and 71/100 Cents ($113,331.71).
3. The Mortgage in the current principal amount of One Hundred Thirteen Thousand Three
Hundred Thirty -One Dollars and 71/100 Cents ($113,331.71) is hereby modified to
increase the total amount by Sixty -Seven Thousand Three Hundred Four Dollars and
45/100 Cents ($67,304.45) and shall secure payment of the Amended and Restated
Mortgage Note executed on even date herewith and attached hereto as Exhibit "B" (the
"Amended Note") in the renewed total amount of One Hundred Eighty Thousand Six
Hundred Thirty -Six Dollars and 16/100 Cents ($180,636.16).
4. Payments. Monthly payments shall be due according to the Amended Note. No interest will
accrue during the life of the loan. Upon default of the terms of the Mortgage or the Amended
Note, the Mortgagor shall pay all sums due to City at the default interest rate provided for in
the Amended Note.
5. The maturity date of the Amended Note and Mortgage is December 15, 2040.
6. Mortgagor represents to Mortgagee that there are no subsequent liens now outstanding
against the Mortgaged Premises (unless disclosed in writing to Mortgagee, and any
subsequent lienholder has agreed to consent to this Modification with such consent attached
to this Modification.) Nothing contained in this Modification shall in any manner impair the
Amended Note and Mortgage, as modified, or the lien created or any other documents
executed by the Mortgagor in connection with the Amended Note and Mortgage, or alter,
waive, vary, or affect any promise, agreement, covenant or condition recited in any of the
above-mentioned documents, except as expressly modified by this Modification, nor affect
or impair any rights, powers, or remedies of City under any of the above-mentioned
document.
7. A default of the land use restriction agreement executed on even date with this Modification
encumbering the Mortgaged Premises shall be considered a default of the Mortgage.
8. Except as otherwise provided in this Modification, all terms, conditions and provisions of
the Amended Note and Mortgage, and other instruments and documents executed in
connection with the subject mortgage loan, shall remain in full force and effect and shall be
binding upon the Parties, their successors, and assigns.
9. All questions with respect to the construction of this Agreement and the rights and liabilities
of the Parties to this Agreement shall be governed by the laws of the State of Florida.
10. This Modification shall inure to the benefit of, and shall be binding on, the assigns,
successors in interest, personal representatives, estates, heirs, and legatees of each of the
Parties of this Agreement.
11. This Modification contains the entire agreement of the Parties and supersedes any prior
2
written or oral agreements among them concerning the subject matter of this Modification.
There are no representations, agreements, arrangements, or understandings, oral or written,
between and among the Parties relating to the subject matter contained in this Agreement
that are not fully expressed in this Agreement.
IN WITNESS WHEREOF, this Modification has been duly signed by the Parties on the date and
year first above written.
(MORTGAGOR SIGNATURE PAGE)
In the presence of:
Witness name:
Witness Address:
Witness name:
Witness Address:
STATE OF FLORIDA )
COUNTY OF PINELLAS )
Community Service Foundation, Inc.,
a Florida not-for-profit corporation.
Name:
Title:
Date:
The foregoing instrument was acknowledged before me by means of ❑ physical presence
or ❑ online notarization, this day of , 2025, by , ❑ who is
personally known to me or ❑ who has produced as
identification.
Notary Public, State of Florida
(NOTARIAL SEAL) Name of Notary:
My Commission Expires:
My Commission No.:
3
(MORTGAGEE SIGNATURE PAGE)
Approved as to form:
Matthew J. Mytych, Esq.
Assistant City Attorney
Date: f V
STATE OF FLORIDA)
COUNTY OF PINELLAS)
CITY OF CLEARWATER, FLORIDA,
a Florida municipal corporation.
By:
Jennifer irrier
City Manager
Date:
It -t3 -a5
'for Rosemarie Call
City Clerk
Date: I t • 13 -,QS
The foregoing instrument was acknowledged before me by means of [sical presence
or ❑ online notarization, this (3 day of p(,)CLQ Yf , 2025, by Jennifer Poirrier, as City
Manager of the City of Clearwater, Florida, 0 who is personally known to me or 0 who has
produced as identification.
(1&4106?c( C--)-e\ULD
Notary Public, S Florida
(NOTARIAL SEAL) Name of Notaryf •
f4:7, p%mcraOivi3873537 y Commission Expires:
4 �� ,a Co My Commission No.: !
_}' = Expires: April 17, 202
Notary Public - State of Florida
4
EXHIBIT "A"
LEGAL DESCRIPTION
Parcel 1:
The East 100 feet of Lot 1, Less the North 10 feet thereof, of A.H. DUNCAN'S RESUBDIVISION
of the West I/a of the Southeast Y4 of Section 22, Township 29 South, Range 15 East, according to
the Plat thereof, as recorded in Plat Book 5, on Page 70, of the Public Records of Pinellas County,
Florida.
Parcel 2:
The West 118.13 feet of Lot 1, Less Right -of -Way, A. H. DUNCAN'S RESUBDIVISION,
according to the Plat thereof, as recorded in Plat Book 5, Page 99 of the Public Records of Pinellas
County, Florida, in Section 22, Township 29 South, Range 15 East.
Parcel 3:
The East 27.0 feet of the West 1/2 of Lot 1 and the West 55.0 feet of the East 1/2 of Lot 1 of A. H.
DUNCAN'S RESUBDIVISION, as Recorded in Plat Book 5, Page 99, Public Records of Pinellas
County, Florida, Less and Except Right -of -Way to the North.
5
Prepared by: Matthew J. Mytych, Esq.
Return to: Terry Malcolm -Smith
City of Clearwater
Dept. of Economic Development & Housing
P.O. Box 4748
Clearwater, FL 33758
EXHIBIT "B"
CITY OF CLEARWATER
ECONOMIC DEVELOPMENT AND HOUSING DEPARTMENT
AMENDED AND RESTATED PROMISSORY NOTE
Closing Date: November 14, 2025 Loan Amount: $180,636.16
Borrower: Community Service Foundation, Inc.
Property Address: 1101 Woodlawn Street; 1115 Woodlawn Street; and 1119 Woodlawn Street
Clearwater, FL 33756 (the "Property")
Property Tax I.D. No.: 22-29-15-22932-000-0011, 22-29-15-22932-000-0012, and 22-29-15-22932-000-
0010
1. BORROWER'S PROMISE TO PAY
For value received, Community Service Foundation, Inc., a Florida not-for-profit corporation (the
"Borrower") whose mailing address is 925 Lakeview Road, Clearwater, FL 33756, promises to pay the
sum of One Hundred Eishty Thousand Sig Hundred Thirty -Six Dollars and 16/100 Cents
($180,636.16) in U.S. dollars (this amount is called "Principal") to the City of Clearwater, Florida, a
Florida municipal corporation (the "Lender") whose mailing address is P.O. Box 4748, Clearwater, FL
33758, but notwithstanding such expression, the actual indebtedness from time to time evidenced hereby
shall be the sum of all advances made by the Lender, or its agent, to the Borrower hereunder, less the
aggregate amount of all principal repayments made under said Note by the Borrower to the Lender, it being
the intent hereof and the purpose of said Loan and Note to provide a credit which the Borrower may draw
against and which Lender will approve advances from time to time in accordance with proper progress of
the contemplated rehabilitation, as determined by the Lender in its sole discretion, and which Borrower
may repay in whole or in part from time to time, so that the principal amount outstanding thereunder may
fluctuate in accordance with such advances and repayments, but the aggregate principal amount outstanding
under the Note shall not at any time exceed the Principal. The Lender or anyone who takes this Note by
transfer and who is entitled to receive the value as evidenced by this Note is called the "Note Holder".
2. INTEREST
The interest rate on this Note will be 0.00% per annum. In the event the Borrower transfers, assigns, sells
mortgages, refinances or fails to meet the obligations established by the Mortgage dated June 8, 2017, as
modified on even date herewith, the Land Use Restriction Agreement (the "LURA"), the Letter of
Commitment, the Construction Loan Agreement (all executed on even date herewith), this Note (these
1
documents collectively known as the "Loan Documents"), or any applicable restrictions or laws, or in any
manner disposes of all or a portion of the Property, then the principal and interest, if any, hereunder shall,
at the option of the Note Holder, immediately become due and payable after failure of the Borrower to cure
the Default as provided in Section 6, 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, transfer, assignment, mortgage,
refinance, or other conveyance, until paid in full. Forbearance to exercise this option with respect to any
failure or breach of the undersigned shall not constitute a waiver of the right as to any continuing failure or
breach or any subsequent failure or breach.
3. PAYMENTS
Loan repayment is deferred until January 14, 2026. No interest will accrue during the deferral period. The
Borrower will pay principal and interest, if any, (as provided in section 2 above) by making payment every
month thereafter. Beginning On January 15, 2026, The Borrower will start to make payments on the
fifteenth day of every month until the Borrower has paid all of the principal and interest, if any, and any
other charges described herein that the Borrower may owe under this Note. Monthly payments will be
made in the amount of One Thousand Three Dollars and 53/100 Cents ($1,003.53) in (U.S. Dollars).
If on December 15, 2040 (the "Maturity Date"), the Borrower owes amounts under this Note, the Borrower
will pay those amounts in full on that day to the City of Clearwater at P.O. Box 4748, Clearwater, FL 33758,
or at a different place if required by the Note Holder. In the event that actual project costs are less than the
loan, unused funds will be returned to the City reducing Borrower's principal balance on the Loan.
4. BORROWER'S RIGHT TO PREPAY
The undersigned has the right to prepay the balance due on this Note according to the amount owed as listed
below. A payment of principal only is known as a "prepayment". When a prepayment is made, the
undersigned 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, refinance, or otherwise transfer title of the property or fail to meet the required
obligations 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 fmally 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 undersigned shall notify the Note Holder, in writing, that the undersigned elects to have such excess
sum returned to it forthwith.
6. BORROWER'S FAILURE TO PAY AS REQUIRED
(A) Late Charge for Overdue Payments
The Loan is a payment loan which requires monthly payments. If the Borrower defaults on the loan, the
entire loan amount shall become due and payable after notices and opportunity to cure as provided herein.
2
(B) Default
The loan will be considered in default should the Borrower not abide to the terms and conditions of any of
the Loan Documents. If the undersigned is in default, then after failure of the Borrower to cure the default
within thirty (30) days of written notice of the default under any of the Loan Documents (unless such notice
and cure period is otherwise expressly not required for a particular default event pursuant to any of the Loan
Documents), the full principal amount including any interest that may accrue shall become immediately
due and payable without further notice.
(C) No Waiver by Note Holder
The remedies of the Note Holder, as provided herein, or in the other Loan Documents, 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 a waiver or release of any subsequent
right, remedy, or recourse to a subsequent event. Even if, at a time when the undersigned 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.
(D) 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 therefrom, 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 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 Note, 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. Notices sent by a nationally recognized overnight courier service shall be 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. Actual receipt of notice shall not
be required to effect notice hereunder
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
3
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 signors together. This means that any one of the signors may
be required to pay all of the amounts owned under this Note.
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 undersigned 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. 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.
11. COPY RECEIVED
Borrower hereby acknowledges receipt of a copy of this instrument.
Notice to Borrower
Do not sign this Note if it contains blank spaces. All spaces should be completed before you sign.
4
IN WITNESS WHEREOF, this Note has been duly signed by the Borrower on this day of
, 2025.
In the presence of:
Signature of Witness
Community Service Foundation, Inc.,
a Florida not-for-profit corporation.
Name of Witness (Print) By: Edward Thiebe, Executive Director
Date:
Address of Witness
Signature of Witness
Name of Witness (Print)
Address of Witness
STATE OF FLORIDA
COUNTY OF PINELLAS
The foregoing instrument was acknowledged before me by means ❑ physical presence or ❑ online notarization,
this _ day of , 2025 by Edward Thiebe, Executive Director of Community Service
Foundation, Inc., o who is/are personally known to me or 0 who has/have produced a driver's license as
identification.
Notary Public, State of Florida
(NOTARIAL SEAL) Name of Notary:
My Commission Expires:
My Commission No.:
5
CITY OF CLEARWATER
ECONOMIC DEVELOPMENT AND HOUSING
CONSTRUCTION LOAN AGREEMENT
This Construction Loan Agreement (the "Agreement") is entered into this day of
November, 2025 by and between the City of Clearwater, Florida, a Florida municipal
corporation, whose address is P.O. Box 4748, Clearwater, Florida 33758 (the "City"), and
Community Service Foundation, Inc., a Florida not-for-profit corporation, whose address is
925 Lakeview Road, Clearwater, Florida 33756 ("Borrower"), and is made in reference to the
following facts:
(A) Simultaneously with the execution and delivery of this Agreement, the City has made a loan
to the Borrower in the principal amount of SIXTY-SEVEN THOUSAND THREE HUNDRED
FOUR DOLLARS AND 45/100 CENTS ($67,304.45) (the "Loan") or as much thereof as may
from time to time be advanced by the City to Borrower, evidenced by an amended and restated
promissory note in favor of the City (the "Note"), which includes in addition to the Loan certain
additional amounts previously owed to the City by Borrower. The Note is secured by a
mortgage, which has been modified on even date herewith (the "Mortgage"), encumbering real
property located in Pinellas County, Florida (the "Property"), more particularly described as
follows:
Legal Description:
Parcel 1:
The East 100 feet of Lot 1, Less the North 10 feet thereof, of A.H. DUNCAN'S
RESUBDIVISION of the West '/4 of the Southeast '/4 of Section 22, Township 29 South,
Range 15 East, according to the Plat thereof, as recorded in Plat Book 5, on Page 70, of the
Public Records of Pinellas County, Florida.
Parcel 2:
The West 118.13 feet of Lot 1, Less Right -of -Way, A. H. DUNCAN'S RESUBDIVISION,
according to the Plat thereof, as recorded in Plat Book 5, Page 99 of the Public Records of
Pinellas County, Florida, in Section 22, Township 29 South, Range 15 East.
Parcel 3:
The East 27.0 feet of the West '/2 of Lot 1 and the West 55.0 feet of the East '/2 of Lot 1 of A.
H. DUNCAN'S RESUBDIVISION, as recorded in Plat Book 5, Page 99, Public Records of
Pinellas County, Florida, Less and Except Right -of -Way to the North.
(B) Borrower desires to make improvements on the Property in accordance with plans and
specifications submitted to the City (the "Improvements") and require advances from the City
from time to time during the period of construction, in order to construct said Improvements.
(C) The City is agreeable to making the advances set forth in (B) above as long as such advances
are in strict compliance with the terms and conditions of this Agreement and secured by the lien
1
of the Mortgage, and that construction is completed no later than twelve (12) months from the
date of this Agreement (the "Completion Date").
NOW THEREFORE, in consideration of the statements as set for above and the
agreements herein made, and the agreements and covenants contained in the Note and Mortgage,
Borrower and the City do hereby make the agreements set forth herein.
ARTICLE 1. REPRESENTATIONS AND WARRANTIES OF BORROWER
Borrower represents and warrants to the City as follows:
(a) Existence. Borrower is a not-for-profit corporation organized under the laws of the
State of Florida and its executive director executing this Agreement, the Note, and mortgage
modification agreement is duly authorized and has all necessary power to enter into these
agreements.
(b) No Default. Borrower is not in default and has not breached in any material respect
any agreement or instrument to which it is a party or by which it may be bound, and the
execution and delivery of this Agreement, the Note, and mortgage modification agreement, and
the consummation of the other transactions contemplated herein do not conflict with or result in,
(i) a violation of any regulation, order, writ, judgment, injunction or decree of any court or
governmental or municipal instrumentality or (ii) the breach of or default under any agreement or
instrument to which Borrower is a party or by which it may be bound.
(c) Compliance With Laws. Borrower has obtained all necessary governmental
approvals necessary to commence construction of the Improvements.
(d) Utilities, Land Use and Zoning. Sewer, water, and all other necessary utilities are
available to serve the Property and the Improvements in sufficient quality for their intended use,
and the current land use and zoning classifications of the Property and any covenants and
restrictions affecting the Property permit the construction and intended use of the Improvements
without the necessity of obtaining further approvals, authorizations, waivers, consents,
exceptions, or variances.
(e) Absence of Proceedings and Actions. There are no actions, suits, or proceedings
pending or, to the knowledge of Borrower, threatened against or affecting Borrower or the
Property.
(f) Financial Statements. All financial statements of Borrower regarding the Loan are
true and correct as of the date of this Agreement.
ARTICLE II. COVENANTS OF BORROWER
Borrower covenants to the City that:
2
(a) Plans and Specifications. Borrower shall cause to be constructed the Improvements
on the Property in accordance with the plans and specifications, and any amendments thereto
previously submitted by Borrower to the City and which have been approved by the City. The
plans and specifications, and any amendments thereto, as so approved by the City, shall remain
the property of the City.
(b) Development Work Criteria. Development of the Property and construction of the
Improvements shall be in accordance with the plans and specifications, all engineering reports
and studies, soil reports and other similar matters which have heretofore been submitted by
Borrower to the City for the basis of the Loan, and in compliance with all restrictions,
conditions, ordinances, codes, regulations and laws of governmental departments, including, if
applicable HOME, SHIP, HTF and CDBG, and agencies having control over or jurisdiction over
or an interest in the Property and the Improvements. No deviation shall be made in the plans and
specifications without the prior written consent of the City and, to the extent applicable, no
change shall be made in any contracts Borrower has entered into with respect to construction of
the improvements without the prior written consent of the City.
(c) Commencement and Continuity of Work. Development of the Property and
construction of the Improvements shall commence within forty-five (45) days from the date of
this Agreement and shall be carried out diligently and without interruption or delay until
completed and the same shall be constructed in a good and workmanlike manner, and in
accordance with the plans and specifications referred to above.
(d) Use of Proceeds and Deficiency in Loan Amount. Borrower will use the proceeds
of the Loan only for the payment of costs directly associated with the construction of the
Improvements and shall not divert such funds for any other purpose. If it appears the
construction cost of the Improvements will exceed the net amount available from the Loan, the
City, at its option, may require Borrower to deposit, and Borrower shall deposit with the City
within ten (10) days after receipt of notice of sufficient sums, which together with a net amount
remaining available for disbursement will be sufficient to pay all construction cost and related
costs of completing the Improvements in accordance with the plans and specifications. The
judgment and determination of the City as to any such deficiency shall be fmal and conclusive.
(e) Liens. Borrower will have any mechanics' liens or other encumbrances which may
be filed against the Property released or bonded off within thirty (30) days of the date Borrower
receives notice thereof.
(f) Access to Books and Records. Borrower will permit the City or its agents to have at
all reasonable times unrestricted access to its records, accounting books, contracts, subcontracts,
bills and statements, including any supporting or related vouchers or other instruments, as relate
in any manner to the development and construction of the Improvements, and the City or its
agents shall have the right to copy the same.
(g) Financial Statements. During the time period encompassing development of the
Property and construction of the Improvements, or until the Completion Date, whichever occurs
first, the City reserves the right at any time to require updated financial statements from
3
Borrower. Borrower will permit the City, through any means deemed appropriate by the City, to
verify the correctness of any such updated financial statements.
(h) Delivery of Materials to Property. Borrower will cause all materials, supplies, and
goods to be incorporated as part of the Improvements to be delivered to the Property free and
clear of all liens and encumbrances so that no other party shall have an interest therein, whether
superior or inferior to the lien of the Mortgage.
(i) Compliance with Mechanics' Lien Law. Borrower and its general contractor will
comply in all respects whatsoever with the Florida Mechanics Lien Law as the same may from
time to time exist, and the City shall not be obligated to disburse any funds to Borrower if, in the
opinion of the City or its counsel, such disbursement would result in a violation of such law.
(j) Access to the Property. Borrower will permit the City and its agents, at all
reasonable times, to have the right of entry and free access to the Property and the right to
inspect the Property and all work done, labor performed, and material furnished thereon or
thereabouts.
(k) SERVICES TO BENEFIT THE CITY. INSPECTIONS AND OTHER SERVICES
RENDERED BY OR ON BEHALF OF THE CITY AND WHETHER OR NOT PAID FOR BY
BORROWER SHALL BE RENDERED SOLELY FOR THE PROTECTION AND BENEFIT
OF THE CITY, AND BORROWER SHALL NOT BE ENTITLED TO CLAIM ANY LOSS OR
DAMAGE AGAINST THE CITY OR ITS AGENTS OR EMPLOYEES FOR FAILURE TO
PROPERLY DISCHARGE THEIR DUTIES TO THE CITY.
(1) The City's Right to Approve. The City shall have the right to approve all contracts,
subcontracts, purchase orders, or other similar agreements to be entered into by Borrower with
respect to any portion of the construction of the Improvements or any materials, supplies or labor
to be rendered in connection therewith.
(m) Signage. The Borrower agrees that the City may erect a sign at the construction site
in a conspicuous location indicating that the financing for the project is provided by the City of
Clearwater.
(n) Joinder by Contractor. If Borrower is employing a general contractor with respect
to the construction of the Improvements, the Borrower will require such contractor to join in the
execution hereof, and, in the event of a conflict between the terms and conditions of any such
contract and this Agreement, the terms and conditions of this Agreement shall govern and
control.
(o) Further Assurance. The Borrower will, at any time on the City's request, make, do,
execute, and deliver to the City and where appropriate shall cause to be recorded or filed at the
Borrower's expense any and all further acts, mortgages, documents, and assurances as may be
reasonably necessary to effectuate, complete, and confirm the transactions sought to be
consummated hereunder.
4
(p) Compliance with Note and Mortgage. The Borrower will comply with and abide
by all the terms, conditions, covenants, agreements, representations, and warranties contained in
the Note and Mortgage, each of which documents are incorporated herein by this reference. In
the event of a conflict between this Agreement and the Note or Mortgage, the terms and
conditions of this Agreement shall govern and control.
(q) Disputes between Borrower and the City. In the event any dispute arises between
the Borrower and the City with respect to the construction or meaning of the plans and
specifications, the same shall, at the option of the City, be decided by a competent architect to be
selected by the City but may be paid for by the Borrower. The decision of such architect or
government representative, as the case may be, shall be conclusive and binding upon the parties
hereto.
(r) Disputes between Borrower and Contractor. In the event a dispute arises between
the Borrower and contractor, and Borrower desires that future disbursements to contractor from
the construction fund be suspended, the Borrower shall advise the City in writing of the facts
giving rise to the dispute and shall request in writing that disbursements to the contractor be
suspended. The City shall withhold any disbursement due until the City receives written
instructions signed by the Borrower and the contractor.
(s) SHIP Land Use Restriction. Borrower and tenants of the affordable rental units to
be renovated shall be bound by the existing SHIP Land Use Restriction Agreement executed on
even date herewith (the "LURA").
ARTICLE 111. DISBURSEMENT OF FUNDS
(a) Disbursement Schedule. Upon satisfaction of all conditions required and specified
in the Disbursement Schedule set forth by Borrower, the City shall disburse funds to the
Borrower.
(b) Method of Disbursement. The City, at its option, may disburse the Loan funds to or
for Borrower and Borrower's contractor. Such election shall not prevent the City from making
subsequent disbursements in a different manner or through a different party.
(c) Disbursement Procedures. Requests for Loan disbursements shall be submitted to
the Borrower according to a Disbursement Authorization which by this reference is incorporated
herein and made a part hereof (the "Disbursement Authorization"). Said authorization shall also
serve as Borrower's written authorization to the City of where and to whom the disbursements
are to be made and the parties authorized to request such disbursements.
(d) Disbursement Obligation of the City. Nothing contained in this Agreement, the
Note, or Mortgage shall impose upon the City any obligation to see to the proper application of
any disbursements made pursuant to this Loan, and the sole obligation of the City shall be to
disburse funds as set forth herein, provided there exists no default under this Agreement, the
Note and Mortgage.
5
ARTICLE 1V. PARTIAL RELEASES
Provided there is no default under this Agreement, the Note, or Mortgage, and provided
further that the loan commitment contemplates partial releases of the Property from the lien of
the Mortgage, partial releases shall be granted upon the terms and conditions set forth, if
applicable.
ARTICLE V. EVENTS OF DEFAULT
The happening of any one or more of the following events shall constitute a default under
this Agreement, the Note, and Mortgage:
(a) Breach of Condition. Borrower's violation or breach of any term, condition,
covenant, representation or warranty contained in this Agreement, the LURA, Note, or
Mortgage, or other instruments executed in connection herewith, or if the Improvements are not
completed on or before the Completion Date set forth in this Agreement, or the existence of a
material misrepresentation of a fact contained in the documents submitted in support of the Loan.
(b) Transfer of Property. The sale, assignment, pledge, transfer, hypothecation, or other
disposition of any proprietary or beneficial interest in Borrower or the Property by Borrower
without the prior written consent of the City.
(c) Impairment of the Property. The occurrence of any condition or situation which, in
the sole determination of the City, constitutes a danger to or impairment of the Property or
repayment of the Loan.
ARTICLE VI. THE CITY'S REMEDIES
Upon the occurrence of any event of under this Agreement, the Note, the Mortgage, the LURA,
or any other document executed in connection with the Loan, the City shall provide written
notice of the default to Borrower and provide Borrower thirty (30) days to cure. Upon providing
written notice of a default, the City shall have the absolute right to refuse to disburse any funds
hereunder unless such default is cured within the thirty (30) day period. Upon a failure to cure a
default the City shall have the absolute right at its option and election and in its sole discretion
to:
(a) Possession. Take immediate possession of the Property as well as all other security for
the Loan as is necessary to fully complete the improvements as required hereunder and to
do everything in its sole judgment to fulfill the obligation of Borrower hereunder.
(b) Exercise. Exercise any of the rights, privileges, or remedies available to the City under
the LURA, the Note, or Mortgage, or as otherwise may be permitted by applicable law.
6
(c) Power of Completion. In the event of the death of the Contractor and/or Agent, or in the
event of the bankruptcy of the Contractor and/or Agent, or in the event of the general
assignment to creditors by Borrower or Contractor and/or Agent during the period of
construction of said building and before completion thereof, or upon any other occasion
which might result in cessation of work, the City shall have full power to take charge of
and complete the construction and make disbursements against the Loan and
for the benefit of Borrower, but shall not in any way be obligated to do so.
(d) Acceleration. Accelerate the maturity of the Note and Mortgage and demand payment of
the principal sums due thereunder, advances, costs and attorney's fees, whether incurred
at the trial or appellate level, and enforce collection of such payment by foreclosure of the
Mortgage or other appropriate action in a court of competent jurisdiction.
The remedies and rights of the City hereunder and under the other Loan Documents shall be
cumulative and not mutually exclusive. The City may resort to any one or more or all of the
remedies, but not to the exclusion of any other remedy. No party, whether contractor,
materialman, subcontractor, or supplier, shall have any interest in loan funds withheld because of
default, and shall have no right to garnish, require or compel payment thereof to be applied
towards discharge or satisfaction of any claim of lien which such party may have work
performed or materials supplied for the construction of the Improvements.
ARTICLE VII. THE CITY'S LIABILITIES
(a) The escrow account. Borrower approves the deposit of the construction funds in the
escrow account at the Blue Brick Title & Escrow Company, and releases the City from all loss
resulting from the handling of said funds by Borrower in the usual course of business. Borrower
agrees that the holding, application, and disbursement of said construction funds held by the City
shall be for the account of Borrower; however, it is expressly understood by the parties that the
holding, application, and disbursement of said construction funds is for the protection of all
parties.
(b) To Third Persons. This Agreement shall not be construed to make the City liable to
materialmen, contractors, craftsmen, laborers, or other for goods or services delivered by them in
or upon the Property, or for debt or claims accruing to any such parties against Borrower.
(c) INSPECTION SERVICES. IT IS EXPRESSLY AGREED THAT ALL
INSPECTION AND OTHER SERVICES RENDERED BY THE CITY SHALL BE
RENDERED SOLELY FOR THE PROTECTION AND BENEFIT OF THE CITY, AND
BORROWER SHALL NOT BE ENTITLED TO CLAIM ANY LOSS OR DAMAGE
AGAINST THE CITY. THE CITY SHALL NOT BE LIABLE FOR THE FAILURE OF ANY
DEALER, CONTRACTOR, CRAFTSMAN OR LABORER TO DELIVER THE GOODS OR
PERFORM THE SERVICES TO BE DELIVERED OR PERFORMED BY THEM.
(d) To Borrower. Borrower hereby accepts the full responsibility for the selection of its
own contractor and subcontractors and all materials, supplies, and equipment to be used in the
construction. THE CITY ASSUMES NO RESPONSIBILITY FOR THE COMPLETION OF
7
SAID BUILDING OR BUILDINGS, ACCORDING TO THE PLANS AND SPECIFICATIONS
AND FOR THE CONTRACT PRICE. Borrower has further accepted, and hereby accepts, full
responsibility for compliance with the Florida Mechanics' Lien Law and hereby relieves the City
from any and all liability thereunder of any nature whatsoever. Anything herein contained to the
contrary notwithstanding, there shall be no obligation upon the City to make any additional
disbursements hereunder, if at the time of the request for such disbursements Borrower is in
default or has failed to perform any provision of this Agreement or of the Note and Mortgage
hereinabove referenced.
ARTICLE VIII. MISCELLANEOUS
(a) 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. 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. Actual receipt
of notice shall not be required to effect notice hereunder.
(b) Governing Law. This Agreement, the Note, and the Mortgage shall be governed and
construed in accordance with the laws of the State of Florida.
(c) Modification and Waiver. No provision of this Agreement, the Note, or the
Mortgage shall be amended, waived or modified except by an instrument in writing signed by the
parties against whom such amendment, waiver or modification is sought to be enforced.
(d) Severability. The inapplicability or unenforceability of any provision of this
Agreement, the Note, or Mortgage shall not limit or impair the operation or continued validity of
any other provision of this Agreement, the Note and Mortgage.
(e) Counterparts. This Agreement may be executed in any number of counterparts, each
of which, when executed and delivered, shall be an original, and such counterparts together
constitute one and the same instrument.
(f) Assignability. Borrower shall not assign this Agreement or any part of any advance
to be made hereunder or convey, encumber, mortgage, lease, in whole or in part, any portion of
the Property without the prior written consent of the City. The rights of the City under this
Agreement are assignable by the City in whole or in part without the consent of Borrower. This
Agreement is binding upon the representatives, successors, and permitted assigns of Borrower
and the City.
8
(g) Waiver of Defaults. Waiver by the City of any breach or default by Borrower under
the terms of the Note, Mortgage, or this Agreement shall not be deemed to waive, nor shall the
same constitute a waiver of any subsequent breach or default on the part of Borrower.
(h) Expenses. Borrower shall pay all costs and expenses required to satisfy the condition
of this Agreement or incidental to the Loan, including, without limitation, all taxes, insurance
premiums, recording expenses, stamp taxes, all brokerage fees, appraisal fees, survey costs and
title insurance costs.
(i) Beneficiaries. This Agreement is an agreement only by and between Borrower and
the City and for their benefit and the benefit of their successors and assigns permitted by this
Agreement. No other person or party, including any contractor that assents hereto, shall be a
beneficiary hereof or have any rights hereunder, and no rights are conferred by this Agreement
upon any other person or party, whether or not their name may be used or otherwise identified in
this Agreement.
(j) Attorney's Fees. To the extent of Florida Statute § 768.28, should it become
necessary for either party to engage the services of an attorney due to the failure on the part of
the other party promptly and fully to perform or comply and abide by each and every stipulation,
agreement, condition and covenant of this Agreement or any related loan document, the
nonprevailing party agrees to pay any and all of the prevailing party's attorneys fees. The term
"attorney fees" as used in this Agreement includes any and all legal fees of whatever nature,
including, but not limited to, fees resulting from any appeal of any involuntary order or final
judgment or any other appellate proceedings arising out of any litigation. Notwithstanding
anything contained herein to the contrary, this provision shall not be construed as a waiver of any
immunity to which City is entitled or the extent of any limitation of liability to pursuant to §
768.28, Florida Statutes. Furthermore, this provision is not intended to nor shall be interpreted
as limiting or in any way affecting any defense City may have under § 768.28, Florida Statutes.
9
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.
COMMUNITY SERVICE FOUNDATION, INC.,
a Florida not-for-profit corporation.
Print name:
Title:
Date:
STATE OF FLORIDA)
COUNTY OF PINELLAS)
The foregoing instrument was acknowledged before me by means of ❑ physical presence
or 0 online notarization, this day of , 2025, by , 0 who is
personally known to me or 0 who has produced as
identification.
Notary Public, State of Florida
(NOTARIAL SEAL) Name of Notary:
My Commission Expires:
My Commission No.:
CITY OF CLEARWATER, FLORIDA,
a Florida municipal corporation.
Jesus Nino, Interim Director,
Economic Development & Housing Dept.
Date
10
November 14, 2025
Mr. Edward Thiebe, Executive Director
Community Service Foundation, Inc.
925 Lakeview Road
Clearwater, Florida 33755
RE: Community Service Foundation -Tieman Village Apartments Loan Commitment
Letter
Dear Mr. Thiebe:
The City of Clearwater has reviewed your request for funding for the renovation of the Tieman
Village rental housing properties located at:
• 1101 Woodlawn Street, Clearwater, Florida 33756;
• 1115 Woodlawn Street, Clearwater, Florida 33756; and
• 1119 Woodlawn Street, Clearwater, Florida, 33756.
Congratulations, the City has approved your request for fmancing in the amount of $67,304.45
subject to the following terms and conditions:
1. Borrower: Community Service Foundation, Inc., a Florida not-for-profit
corporation.
2. Loan: Providing a modification to increase your existing mortgage by $67,304.45
for the rehabilitation of seven (7) rental units on the leasehold property (Tiernan
Village Apartments) referenced above. The total new loan amount is $180,636.16.
3. Loan terms: This is a 15 -year payment loan with payments of $1,003.53 per month
required beginning January 15, 2026. The interest rate for the loan shall be zero
percent (0%). Should the Borrower default on the loan during the affordability
period, the entire amount of the loan will become due and payable.
4. Loan Funding Source: State Housing Initiatives Partnership ("SHIP") Program in
the amount of $67,304.45.
5. Site Control: The Borrower must maintain proof of insurance and payment of taxes
during the term of the loan.
6. Rehabilitation: Upon completion of the rehabilitation, the property must be at
minimum code standards and pass all applicable inspections. Licensed contractor/
subcontractors must perform all work and the work must be completed in a
workman -like manner. Funding will be disbursed on a pre -determined draw
schedule. The Borrower will request loan proceeds disbursement via a written
request and will allow the Housing Division five days within which to inspect the
rehabilitation. The Borrower will allow fifteen (15) working days for payment
processing upon the passing of the construction inspection. No funds will be
advanced in the event that either the Housing Division or Building Division does not
approve the work or the percentage of work completed.
7. Contractor: The Borrower must hire licensed contractors to perform the work of
required trades. The City of Clearwater Housing Division will perform periodic
inspections of the work in addition to any inspections required by the City of
Clearwater's Building Department. An inspection by the City's Housing Division
must be performed prior to the disbursement of any draws made in connection with
this loan.
8. Rental Tenant: Upon completion of the rehabilitation, the Borrower must rent the
units to individuals or families whose income does not exceed the SHIP guidelines
in effect at the time of execution of the rental leases for the dwelling units.
9. Collateral: A leasehold mortgage on the following described property:
Legal Description:
PARCEL 1: Parcel 1: The East 100 feet of Lot 1, Less the North 10 feet thereof, of
A.H. DUNCAN'S RESUBDIVISION of the West '/o of the Southeast '/< of Section
22, Township 29 South, Range 15 East, according to the Plat thereof, as recorded in
Plat Book 5, on Page 70, of the Public Records of Pinellas County, Florida.
Parcel 2: The West 118.13 feet of Lot 1, Less Right -of -Way, A. H. DUNCAN'S
RESUBDIVISION, according to the Plat thereof, as recorded in Plat Book 5, Page
99 of the Public Records of Pinellas County, Florida, in Section 22, Township 29
South, Range 15 East.
Parcel 3: The East 27.0 feet of the West 1/2 of Lot 1 and the West 55.0 feet of the
East 'h of Lot 1 of A. H. DUNCAN'S RESUBDIVISION, as recorded in Plat Book
5, Page 99, Public Records of Pinellas County, Florida, Less and Except Right -of -
Way to the North.
10. Rehabilitation/Construction Agreement: The Borrower must comply with all
elements of this agreement upon the closing of this loan. Housing that is
rehabilitated must meet all applicable State and Local Codes, rehabilitation
standards, and ordinances. All assisted units must meet the accessibility
requirements of the Fair Housing Act and Section 504 of the Rehabilitation Act of
1977.
11. Land Use Restrictive Agreement: The Borrower must comply with the affordability
period outlined in the existing and new land use restriction agreements as well as all
applicable terms and conditions of the SHIP Program.
12. This loan is not assumable by another party without a written request from the
Borrower and written approval from the City of Clearwater.
13. The loan will be evidenced by a note and mortgage modification agreement. The
Borrower must adhere to any and all covenants of the note and mortgage.
14. The Borrower must maintain an affordability requirement by ensuring maximum
allowable rents do not exceed thirty percent (30%) of the renting family's adjusted
income.
15. The Borrower will perform annual income certifications and recertifications for the
tenants of the seven (7) SHIP assisted rental units. The annual income of the tenants
in these units must be at eighty percent (80%) or less of the area median income.
The Borrower will forward the certifications to the City annually. The Borrower
must allow annual on-site visits for compliance with property standards, rent and
occupancy, lease requirements and tenant selection.
16. At closing, loan funds will be placed in escrow with the Blue Brick Title Company.
All payments must be approved by the City or its agent.
Thank you for your commitment to the provision of affordable housing and allowing the City
of Clearwater to partner with you to meet your goals.
Sincerely,
Jesus Nino
Interim Director, City of Clearwater, Florida
Economic Development and Housing Division
The undersigned agrees to the above referenced terms and conditions and further agrees to
abide by the requirements of the City of Clearwater and all applicable program requirements.
Community Service Foundation, Inc.
By:
Edward Thiebe, Executive Director
Date