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LARGO AREA HOUSING DEVELOPMENT CORPORATION RETURN TO: Greg Schwartz Largo Area Housing Development Corp. 2139N. E. CoacbmanRoad Clearwater, Fl. 33765 ~arcel No. 22-29-15-37602-002-0010 I THIS SPECIAL WARRANTY DEED I Made this 20 ~ day of December, A.D. 2002 by the OTY OF CLEARWATER, FLORIDA, a Municipal Corporation of the State of Florida hereinafter called the Grantor, to LARGO AREA HOUSING DEVELOPMENT CORPORATION, a Florida non-profit corporation whose Post Office address is: 2139 N. E. Coachman Road, CleatWater, Florida 33765, hereinafter caM the Grantee: (Whenever used herein the term "grantor" and "grantee" include all the parties to this instrument and the heirs, legal representatives and assigns of individuals, and the successors and assigns of corporations) Witnesseth, that the grantor, for and in consideration of $10.00 and other valuable considerations, receipt whereof is hereby acknowledged, hereby grants, bargains, sells, aliens, remises, releases, conveys and confirms ooto the grantee, all that certain parcel of real property siDate in Pinellas COooty, Florida, viz: HARVEY PARK SUBDIVISION, Block "B", Lots 1 through 12 inclusive, as recorded in Plat Book 9, Page 94 of the Public Records of Pinellas County, Florida. Together with all the tenements, hereditaments and appurtenancC5 thereto belonging or in anywise appertaining. To Have and to Hold, the same in fee simple forever. Subject to nondelinquent ad valorem taxes and current installments of special assessments not yet due and payable, if any, and to highways, rights-of-way, licenses, easements and restrictions of record generally, zoning ordinances and other govemmenta11imitations, or others which might be disclosed by an accurate inspection and architectural survey. And the said Grantor does specifically warrant the tile to said land and will defend the same against the lawful claim of all persons claiming by, through or ooder Grantor except taxes for the year 2003 and subsequent, and subject to the matters hereinabove mentioned ~ In Witness Whereof, the Grantor has cau;ed these presents to be executed in its name, and its corporate seal to be herelll1to affixed, by its proper officers therelll1to duly authorized, the day and year first above written. Signature Page Re: Special Warranty Deed Fr: City of Clearwater To: Largo Area Housing Dev. Corp. HARVEY PARK, Blk. "B" Lots 1- 12 inclusive COlll1tersigned: CITY OF CLEARWATER, FLORIDA _~.~JJ: William B. Home, II City Manager Attest: STATE OF FLORIDA ) COUNTY OF PINELLAS ) Vt'ee M~ 0(" (Nt:/ 1"\61 (;ya..y BEFORE ME, the lll1dersigned, personally appeared DIilm 1. L'\Qng3t, MayOl'Co:l'l1HHssioRei" of the City of Clearwater, Florida, who executed the foregoing instrument and acknowledged the execution thereof to be his free act and deed for the use and purposes herein setforth, and who is personally known to me. ~ WITNESS my hand and official seal this ~ day of December, 2002. C--L+ ~. ~ Notary Public Print/type name: ."T' \J..>~'; tr>;:;;i...:'...~. ;:S"sAd:: OF fLCf{je.:. ,-(.R0l YI~ l, BRINK COMMISSION It CC634678 EXPIRES 5/2212003 ~~I1\;tJ~O "HI:";IJ ~\8,~ 1-889-NOT':'PY": STATE OF FLORIDA ) COUNTY OF PINELLAS ) BEFORE ME, the lll1dersigned, personally appeared William B. Home, II, the City Manager of the City of Clearwater, Florida, who executed the foregoing instrument and acknowledged the execution thereof to be his free act and deed for the use and puposes herein set forth, and who is personally known to me. 'ft.. WITNESS my hand and official seal this ('I day of December, 2002. ~t.~ Notary Public' , Print/type name: L "i,'j.,,;.',":'~'" i,:. ""'";",l;.' . ~N,::Of.. '1~~ l. ImlNK 'iJI',.MISSION III CCf':<-.678 ,.,.,}' ~11:!~Eg ,5122r2()03 . I 1. :.".j"\': -' J\~',~, 1-Clt.~S~NO'~'f:"~:C:", Approved as to F onn: ~t CONTRACT FOR SALE OF REAL PROPERTY BY THE CITY OF CLEARWATER, FLORIDA PARTIES: The CITY OF CLEARWATER, FLORIDA, a Municipal Corporation of the State of Florida (herein "Seller" or "City"), P. O. Box 4748, Clearwater, Florida 33758-4748, ATTENTION: City Manager, Phone: (727) 562- 4040 and LARGO AREA HOUSING DEVELOPMENT CORPORATION, a Florida non-profit corporation, 2139 N.E. Coachman Road, Clearwater, FI. 33765 (herein "Buyer"), Phone: (727) 204-4238 (collectively "Parties"), hereby agree that the Seller shall sell and Buyer shall buy the following real property ("Real Property") and personal property, if any ("Personalty") (collectively "Property") upon the following terms and conditions. THE "EFFECTIVE DATE" OF THIS CONTRACT IS THE DATE OF EXECUTION BY DULY AUTHORIZED CITY OFFICIALS. TIME IS OF THE ESSENCE IN THIS CONTRACT. Time periods of 5 days or less shall be computed without including Saturday, Sunday, or national legal holidays and any time period ending on a Saturday, Sunday or national legal holiday shall be extended until 5:00 P.M. of the next business day. 1. PROPERTY DESCRIPTION LEGAL DESCRIPTION: HARVEY PARK SUBDIVISION, Block "B", Lots 1 through 12, inclusive, as recorded in Plat Book 9, Page 94, Public Records of Pinellas County, Florida STREET ADDRESS: 1120 Woodlawn Avenue, Clearwater, FI. 33756 PERSONALTY: Vacant land. No personalty. 2. FULL PURCHASE PRICE .............................................................................................. $ 70,00000 3. MANNER OF PAYMENT Total amount to be paid at closing in U.S. funds, cash, certified or cashier's check, subject to adjustments and prorations.................................................. $ 70,00000 4. THIRD PARTY FINANCING The purchase contemplated herein is subject to Buyer applying for and obtaining adequate financing through HOME Investment Partnership Funds administered by the City to fund this purchase. Buyer shall use all reasonable diligence to obtain the commitment for the financing hereinabove described and, thereafter, to meet the terms and conditions of the commitment and to close the loan. If Buyer fails to obtain the loan commitment and promptly notifies the Seller in writing, or if after diligent effort Buyer fails to meet the terms and conditions of the commitment prior to closing, then either party may cancel this contract and both parties shall be relieved of any and all further obligations hereunder. 5. TIMF FOR ACCEPTANCE Following execution of this contract by Buyer, the price, terms and conditions as contained herein shall remain unchanged and be held unconditionally open for a period of 45 days following delivery in duplicate original to Earl Barrett, Real Estate Services Manager of the City of Clearwater for acceptance and approval or rejection by action of the Clearwater City Commission ("Commission"). If this agreement is accepted and approved by the Commission, it will be executed by duly authorized City officials and delivered to Buyer within 10 days thereafter. If this contract is rejected by the Commission upon initial presentation to the Commission, this contract shall be null and void in all respects and Buyer shall be so informed in writing within 5 days of such action. 6. DILE Seller shall convey marketable title to the Property by SPECIAL WARRANTY DEED, subject only to matters contained in Paragraph 7 and those otherwise accepted by Buyer. Otherwise title shall be free of liens, easements and encumbrances of record or known to Seller, but subject to property taxes for the year of closing, if any; covenants, restrictions and public utility easements of record; and (other matters which title will be subject): No Others; provided there exists at closing no violation of the foregoing and none of them prevents Buyer's intended use of the Property for residential purposes. 1 , t 7. TITLE EVIDENCE Seller shall, at Seller expense and within -1D- days prior to closing date deliver to Buyer a title insurance commitment issued by a Florida licensed title insurer agreeing to liens, encumbrances, exceptions or qualifications set forth in this Contract, and those which shall be discharged by Seller at or before closing. Seller shall convey a marketable title subject only to liens, encumbrances, exceptions or qualifications set forth in this Contract. Marketable title shall be determined according to applicable Title Standards adopted by The Florida Bar and in accordance with law. Buyer shall have 5 days from receiving evidence of title to examine it. If title is found defective, Buyer shall, within 3 days thereafter, notify Seller in writing specifying defect(s). If the defect(s) render title unmarketable, Seller will have 120 days from receipt of notice within which to remove the defect(s), failing which Buyer shall have the option of either accepting the title as it then is or withdrawing from this Contract. Seller will, if title is found unmarketable, make diligent effort to correct defect(s) in title within the time provided therefore, including the bringing of necessary suits. 8. CERTAIN RIGHTS RFSERVFD As required by Section 270.11, Florida Statutes, the Seller reserves unto itself and its successors an undivided three-fourths (3/4) interest in, and title in and to an undivided three-fourths (3/4) interest in, all the phosphate, minerals, and metals that are or may be in, on or under the real property described herein, and an undivided one- half (1/2) interest in all the petroleum that is or may be in, on, or under said property with the privilege to mine and develop the same. If the real property being conveyed hereunder is less than 20 contiguous acres, is presently developed and/or there exists future development plans, and there is little likelihood of the presence of any of the minerals or petroleum contemplated by Seetion 270 11, Florida Statutes, in all such instances the City expressly releases the above described rights 9. SlJRVFY Buyer, at Buyer's expense, within time allowed to deliver evidence of title and to examine same, may have Real Property surveyed and certified to the Buyer, Seller and closing agent by a registered Florida land surveyor. If survey shows any encroachment on Real Property, or that improvements located on Real Property encroach on setback lines, easements, lands of others, or violate any restrictions, contract covenants or applicable governmental regulation, the same shall constitute a title defect. 10. CLOSING PLACE AND DATE Seller shall designate closing agent and this transaction shall be closed in the offices of the designated closing agent in Pinellas County, Florida, on or before 30 day~ following the "Effective Date", unless extended by other provisions of this contract. If either party is unable to comply with any provision of this contract within the time allowed, and be prepared to close as set forth above, after making all reasonable and diligent efforts to comply, then upon giving written notice to the other party, time of closing may be extended up to ...3!Ldays without effect upon any other term, covenant or condition contained in this contract. 11. CLOSING DOCUMENTS Seller shall furnish closing statement, deed, bill of sale, mechanic's lien affidavit, assignments of leases, tenant and mortgage estoppel letters, and corrective instruments as applicable to this transaction. 12. CLOSING EXPENSES Recordation of the deed and Documentary stamps on the deed, unless this transaction is exempt under Chapter 201.24, Florida Statutes, shall be paid by the Buyer. Seller shall pay the costs of recording any corrective instruments. 13. PRORATIONS; CREDITS If there should exist any taxes, assessments, rent and other revenue specific to the Property, all of such expenses and revenue shall be prorated through the day before closing. If the amount of taxes and assessments for the current year cannot be ascertained, rates for the previous year shall be used with due allowance being made for improvements and exemptions. Any deposits held by Seller in trust for third parties in occupancy of the Property shall be credited to Buyer at time of closing. Assessments for any improvements that are substantially complete at time of closing shall be paid in full by Seller. 14. PROPERTY CONDITION Seller shall deliver the Property to Buyer at time of closing in its present "as is" condition, ordinary wear and tear excepted, and shall maintain the grounds in a comparable condition. Seller makes no warranties other than as disclosed herein in Paragraph 16 ("SELLER WARRANTIES") and marketability of title. 2 15. SELLER HELD HARMI ESS Buyer agrees to indemnify and hold harmless the Seller without limitation from any losses, damages, costs, including attorney's fees, claims of injury to or death of any person(s), any damage to property of Buyer, or the Property, and from and against any and every liability to any person arising from Buyer conduct of survey and related work performed pursuant to Paragraph 9 above. 16. SELLER WARRANTIES Seller warrants that there are no facts known to Seller that would materially effect the value of the Property, or which would be detrimental to the Property, or which would effect Buyer's desire to purchase the property except as follows: NONE KNOWN. 17. PROCEEDS OF SALE; ClOSING PROCEDURE The deed shall be recorded upon clearance of funds. Proceeds of sale shall be held in escrow by Seller's attorney or by such other mutually acceptable escrow agent for a period of not longer than 5 days from and after closing, during which time evidence of title shall be continued at Buyer's expense to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable from the date of the last title evidence. If Seller's title is rendered unmarketable through no fault of the Buyer, Buyer shall, within the 5 day period, notify the Seller in writing of the defect and Seller shall have 30 days from the date of receipt of such notification to cure the defect. If Seller fails to timely cure the defect, all funds paid by or on behalf of the Buyer shall, upon written demand made by Buyer and within 5 days after demand, be returned to Buyer and simultaneously with such repayment, Buyer shall return Personalty and vacate Real Property and reconvey it to Seller by special warranty deed. If Buyer fails to make timely demand for refund, Buyer shall take title "as is", waiving all rights against Seller as to any intervening defect except as may be available to Buyer by virtue of warranties contained in the deed. The escrow and closing procedure required by this provision may be waived if title agent insures adverse matters pursuant to Section 627.7841, F.S. (1987), as amended. 18. DEFAULT If Buyer fails to perform this contract within the time specified (including payment of all deposit(s)), the deposit(s) paid by Buyer may be retained by or for the account of Seller as agreed upon liquidated damages, consideration for the execution of this contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under this contract; or Seller, at Seller option, may proceed in equity to enforce Seller's rights under this contract. If, for any reason other than failure of Seller to make Seller's title marketable after diligent effort, Seller fails, neglects or refuses to perform this contract, the Buyer may seek specific performance or elect to receive the return of Buyer deposit(s) without thereby waiving any action for damages resulting from Seller's breach. 19. RADON GAS NOTIFICATION RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit. 20. CONTRACT NOT RECORDABLE; PERSONS BOUND Neither this contract nor any notice of it shall be recorded in any public records. This contract shall bind and inure to the benefit of the parties and their successors in interest. Whenever the context permits, singular shall include plural and one gender shall include all. 21. NOTICE All notices provided for herein shall be deemed to have been duly given if and when deposited in the United States Mail, properly stamped and addressed to the respective party to be notified, including the parties to this contact, the parties attorneys, escrow agent, inspectors, contractors and all others who will in any way act at the behest of the parties to satisfy all terms and conditions of this contract. 22. ASSIGNABILITY; PERSONS BOUND This contract is no! assignable. The terms "Buyer", "Seller", and "Broker" (if any) may be singular or plural. This Contract is binding upon Buyer, Seller, and their heirs, personal representatives, successors and assigns (if assignment is permitted). 3 23. ATTORNEY FEES; COSTS In any litigation arising out of this contract, the prevailing party shall be entitled to recover reasonable attorney's fees and costs. 24. NO BROKER Seller and Buyer represent and agree they have dealt with no Broker or finder in connection with the transactions contemplated hereby. Seller and Buyer further agree to indemnify the other from any damage, liability or expense either may suffer as a result of any claim of a Broker or finder with whom it is determined that the other party has dealt with in contravention of this agreement; except, however, that total City obligations under this provision shall be subject to the limits and restrictions of the Florida sovereign immunity statute, F.S. 768.28. 25. TYPEWRITTEN OR HANDWRITTE=N PROVISIONS Typewritten or handwritten provisions shall control all printed provisions of contract in conflict with them. 26. EFFECT OF PARTIAL INVALIDITY The invalidity of any provision of this contract will not and shall not be deemed to effect the validity of any other provision. In the event that any provision of this contract is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 27. GOVERNING LAW It is agreed by and between the parties hereto that this contract shall be governed by, construed, and enforced in accordance with the laws of the State of Florida. 28. COUNTERPARTS; FACSIMILE COPY This contract may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. A facsimile copy of this contract, including any addendum, attachments and any written modifications hereof, and any initials or signature thereon shall be deemed an original. 29. SPE=CIAL CI AlJSES An Addendum containing special clauses that constitute agreements and covenants between the parties (Exhibit "A") is attached to and an integral part of this contract and without further acknowledgment is confirmed and accepted by the parties. When any special clause in the Addendum is in conflict with any provision contained elsewhere in this contract, then the special clause shall govern. 30. MERGER BY DEED All covenants, warranties, and representations contained herein shall merge with the deed at time of closing. Upon delivery of deed by the City, and acceptance thereof by Buyer, the Buyer shall hold the City forever harmless thereafter. 31. ENTIRE AGREEMENT Upon execution by Seller and Buyer, this contract shall constitute the entire agreement between the parties, shall supersede any and all prior and contemporaneous written and oral promises, representations or condition in respect thereto. All prior negotiations, agreements, memoranda and writings shall be merged herein. Any changes to be made in this agreement shall only be valid when expressed in writing, acknowledged by the parties and incorporated herein or attached hereto. THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN APPROPRIATE PROFESSIONAL FOR LEGAL, TAX, ENVIRONMENTAL AND OTHER SPECIALIZED ADVICE PRIOR TO SIGNING. 4 Contract Signature Page RE: HARVEY PARK, Blk. B., Lots 1-12 Seller: City of Clearwater Buyer: Largo Area Housing Development Corp. Date: / 2 ~-6A'1{ tj ,2002 LARGO AREA HOUSING DEVELOPMENT CORPORATION By: c~ vOakci7 ~K--- fp..l_ L. Duke Tieman, President ------------------------------------------------------------------------------------------------------------------------------- APPROVED AND ACCEPTED THIS Countersigned: Approved as to form: day of ,2002. CITY OF CLEARWATER, FLORIDA BY:tf2m;._.:~. ~"1L- William B. Horne, II, City Manager ATTEST: ....,' t " ,.. ADDENDUM TO THAT CERTAIN CONTRACT FOR SALE OF REAL PROPERTY ("Contract") by and between the CITY OF CLEARWATER, a Municipal Corporation of the State of Florida ("Seller"), and LARGO AREA HOUSING DEVELOPMENT CORPORATION, a Florida non-profit corporation ("Buyer"), regarding certain real property legally described as HARVEY PARK SUBDIVISION, Block B, Lots 1 -12 inclusive. TO WIT: WHEREAS, on August 22, 2002 the Clearwater City Commission declared the above described real property as surplus for the purpose of offering it for sale by sealed bid for a net bid amount of not less than $70,000 subject to the following specific criteria: a. Bidder shall be a development team having a minimum of 10 years development experience in affordable single-family residential infill housing. b. Bidder shall be a non-profit corporation in good standing specializing in housing construction. c. Bidder shall develop the property for single-family residential home ownership. d. Bidder shall screen potential homebuyers to ensure they are eligible for state and federal assistance if such funding will be used by the bidder. e. Bidder shall guarantee that the maximum sales price for each completed residential dwelling shall not exceed $120,000. f. And, if state and federal funds are used in the project, bidder must commence construction by not later than March 1, 2003 and guarantee to complete the project by not later than March 1, 2005. AND, WHEREAS, Buyer was the sole successful bidder timely submitting a sealed bid meeting all of the above described criteria; and, WHEREAS, as additional consideration for Seller entering into this Contract with Buyer, Buyer covenants with Seller to timely comply with and fulfill all of the above described criteria; , NOW, THEREFORE, the parties hereto acknowledge that this ADDENDUM is attached to and an integral and binding condition of the herein described Contract as referenced in Paragraph 29 (SPECIAL CLAUSES) thereof. ATTACHMENT" A" DECLARATION OF RESTRICTIVE COVENANTS CITY OF CLEARWATER HOME PROGRAM THIS DECLARATION, made this _day of_ 2002 LARGO AREA HOUSING DEVELOPMENT CORPORATION, its successors, assigns and transferees of the project described below, whose mailing address is 2139 N. E. Coachman Road, Clearwater, Florida 33756 and hereinafter called ("Agency") and the City of Clearwater, Florida, rmit of local government organized and existing under the laws of the State of Florida hereinafter called ("City") . WHEREAS, the Agency shall purchase certain real property described herein and agrees to the City that the real property executed Mortgage and Note shall contain the restrictive covenants set forth herein. WHEREAS, Agency agrees that the restrictive covenants shall remain in full force and effect against the real property until the end of the affordability period. This Agreement shall be properly filed and recorded by City in the Official Public Records of the City of Clearwater, Florida and shall constitute a restriction upon the use of the property subject to and in accordance with the terms contained herein. IN CONSIDERATION of funds the City has provided to the Agency for a loan to finance the acquisition including closing costs, renovation, and other related cost on lands in the City of Clearwater, Pinellas County Florida described as: HARVEY PARK SUBDIVISION, Block "B", Lots 1 through 12, inclusive, according to the plat thereof as recorded in Plat Book 9, page 94, of the Public Records of Pinellas County, Florida - 1 - This acquisition, or a portion thereof, which has the address of 1120 Woodlawn Ave, Clearwater, FL (herein "Property Address") and which is described in the mortgage between the City and the Agency, the Agency acknowledges that this Agreement is necessary to comply with the affordability requirements of the HOME program stated at 24 CFR 992.252, from which foods were obtained to finance such loan, covenants and agrees that in connection with the acquisition and renovation project, that the City should approve transfer of sale and it will comply, and will require any subsequent purchaser of the project to comply, with the following: 1. Covenants and Restrictions on Use of Funds. HOME funds provided to this project will be used for acquisition of the real property plus closing costs and renovation costs. During the Period of Affordability as defined below, the single family HOME assisted ooit which shall be sold to a family whose annual income does not exceed 80 percent of the median family income for the area, as determined and made available by the Department of Housing and Urban Development with adjustments for smaller and larger families at the time of purchase of the new home. The home must be the principal residence of the family. (a) The income of the persons or family who will occupy the ooit will be verified by the Agency by obtaining third party verification of current income for the family who will occupy the housing ooit and verification of assets. Source documentation evidencing annual income may include wage statements, interest statements, ooemployment compensation statements, other documentation approved by the City. In the event that neither of the above methods is suitable, the Agency may use other methods acceptable to the City to verify income. Annual income for the pmpose of this Agreement shall be as defined by the Department of Housing and Urban Development for the HOME Program (b) The value of the HOME assisted ooit shall not exceed 95 percent of the median purchase price for that type of single family housing for the area. The maximum per ooit subsidy amooot -2- shall not exceed the per dollar limits established rmder section 221 (d) (3)(ii) of the National Housing Act. (b) The family or individuals purchasing the single-family home shall have fee simple title to the property. (c) For the pmpose of this Agreement, the Period of Affordability shall be a period beginning when the HOME ftmds are invested and ending at the end of the 15th (fifteenth) year thereafter. (d) During the period of affordability, the single family rmit must be occupied by the original low-income homebuyer. Should the homebuyer sell the property to any willing buyer at whatever price the market will bear, the sale will trigger repayment of the HOME assistance. (e) The City will use the recapture provision for repayment of the loan should the homebuyer not abide with the affordability period. The repayment amormt due and payable at sale, transfer of ownership, or when the property is not being used as the original homebuyer's principal residence shall be the balance due at the time of the actions listed above plus any interest, penalties, or any payments due thereof. (g) All proceeds, program income and recaptured ftmds associated with this project shall be returned to the City of Clearwater within 30 days of receipt by the agency. (g) Any noncompliance with the requirement of this Section shall be corrected within 30 days after such error is first discovered or would have been discovered by the exercise of reasonable diligence. 2. Property Standards: The single family rmit shall meet and maintain all applicable local codes, the Southern Building Code, ordinances, and zoning ordinances at the time of project completion. The HOME assisted rmits 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 covered multifamily dwellings as defined at 24 - 3 - CFR 100.20, and must also meet the design and renovation requirements at 24 CFR 100.205, which implement the Fair Housing Act. Renovation of house must meet the Model Energy Code. 3. Location of HOME Assisted Units. The location of the HOME assisted project is 1120 W oodlawn Avenue, Clearwater, Florida. The Agency agrees that there will be no material changes to the design of the project after initial commitment by the City without assurances provided by Agency and approved by City that the proposed changes will not adversely affect the HOME assisted units or any provision of this Agreement. 4. No Discrimination. The Agency shall not discriminate, as defined by Federal Statutes, on the basis of race, creed, color, sex, age or national origin in the lease use, or occupancy of the HOME assisted units or in connection with the employment or application for employment of persons for the operation and management of the project. 5. Affirmative Marketing Efforts. The Agency will follow the affirmative marketing procedures and requirements for the HOME Program to attract eligible homebuyers in the housing market area to the available housing without regard to race, color, national origin, sex, religion, familial status or disability. 6. 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. 7. Displacement, relocation, and acquisition. The Agency will take reasonable measures to minimize displacement of persons as a result of a project being assisted with HOME funds in accordance with the requirements of the Uniform Relocation Assistance and Real Properties Acquisition Act. The Agency will be responsible for any relocation expenses without City of Clearwater approval. -4- 8. Labor. The Agency 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). 9. Lead Based Paint. The Agency shall be responsible for maintaining that all HOME assisted units meet the requirements listed in the Lead Based Paint Poisoning Prevention Act and 24 CPR part 35. 10. No Conflicts with Other Documents. The Agency 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. 11. Requests for disbursement of funds. The Agency shall request funding for the HOME assisted project from the City of Clearwater on an as needed basis. 12. Records. The Agency shall retain all records pertaining to Project for a period of five years after audit and/or resolution of audit findings involving this loan. The Agency shall maintain accurate information regarding the occupancy and contract rents 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 Agency shall maintain docmnentation substantiating compliance with Affirmative Marketing Requirements. These Project records shall be made available to The City of Clearwater, U.S. Department of Housing and Urban Development and/or representatives of the Comptroller General of the United States for audit, inspection or copying pmposes during normal business hours. The Owner shall maintain project records that include the following: (1) A full description of each project assisted with HOME funds, including the location and form of HOME assistance. - 5 - (2) The source and application of funds for each project, including supporting docmnentation in accordance with 24 CPR 85.20. (3) Records demonstrating that each homeownership project meet the minimmn per- unit subsidy amount of Section 92.205 (c), 92.250 (a) and the subsidy guidelines adopted in accordance with 92.250 (b). (4) Records demonstrating that each project meets the property standards of Section 92.251 and the lead based paint requirements of Section 92.355. (5) Records demonstrating that each family is income eligible in accordance with Section 92.203. (6) Records demonstrating that the purchase price or estimated value after rehabilitation for each homeownership housing project does not exceed 95% of the median purchase price for the area in accordance with Section 92.254. (7) Records demonstrating that each homeownership project meets the affordability requirements of Section 92.254 for the required period. (8) Records demonstrating compliance with the written agreements required in Section 92.504 (9) Records demonstrating compliance with the applicable uniform administrative requirements required in 92.505. (10) Records docmnenting required inspections, monitoring reviews and audit, and the resolution of any findings or concerns (11) Records docmnenting equal opportunity and fair housing records. (12) Records docmnenting all HOME related financial activities. (13) Records docmnenting affirmative marketing and MBE/WBE activities. 12. Monitoring. The Agency shall permit the City or its designee to inspect all records pertaining to HOME assisted units upon reasonable notice and within normal working hours and -6- 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 Agency shall provide the required documentation quarterly, wtil all HOME assisted wits are filled. The Agency acknowledges that City or its designee must, no less than annually, inspect each HOME assisted wit for compliance with Housing Quality Standards and local code requirements, will facilitate such inspections with tenants as necessary. 13. Successors Bound. This Agreement and the covenants contained herein shall nut with the land and shall bind, and the benefits shall inure to, respectively, the Agency 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. 14. Enforcement of Terms. The benefits of this Agreement shall inure to, and may be enforced by the City for 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 pmpose of providing fimds for the project are outstanding. 15. Conflict of Interest. The Agency warrants that no person covered who exercises or exercised any fwctions 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. 16. Conditions of Religious Organizations. HOME fimds may not be used for rehabilitation or construction of housing that is owned by primarily religious organizations or to assist primarily religious organizations in acquiring housing. 17. Uniform Administrative Requirements. If the owner of the HOME assisted project is a not- for-profit organization, the owner agrees to comply with applicable federal administrative requirements of OMB Circular A-87 and applicable provisions of 24 CFR 85 for government - 7 - entities, or OMB Circular A-I22 and applicable provisions of 24 CPR Part 84 for non-profit entities. 18. Severability. The invalidity of any clause, part or provision of this Agreement shall not affect the validity of the remaining portion thereof. 19. Defaults and Remedies. If the Agency shall fail to observe or perform any covenant, condition or agreement contained herein on its part to be observed or performed, then and in such event, the City shall be entitled, in addition to all other remedies provided by law or in equity. (a) To compel specific performance by the Agency of its obligations under this Agreement, it being recognized that the beneficiaries of Agency obligations hereunder cannot be adequately compensated by monetary damages in the event of Agency's default. (b) To cause the Agency to pay to the City an amoWlt equal to all HOME funds loaned to Agency less any principal balance previously repaid by Agency, if any HOME assisted 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 Agency hereunder shall constitute a default under the Mortgage and note which will enable the City thereunder, after notice and an opportunity to cure as therein provided, to accelerate the Agency's loan and take such other actions as may be permitted under the terms of the Mortgage. - 8 - CITY OF CLEARWATER, FLORIDA By and through City Com . ion through the City Manager By: William B. Horne II City Manager Approved as to form: /) Attest: / . Z_ -9- ~