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Home My WebLink AboutFirst Amendment to Affordable Housing Agreement� � RECORDING REQUESTED BY: and WHEN RECORDED MAIL TO: .,i JULIE RODEWALD San Luis Obispo Counry—Clerk/Recorder Hecorded at ihe requast ol Public sc 4/10l2008 a:ao �rn City of Arroyo Grande ° o c#: 2008018345 City Clerk's Office I IIII II III I II III II II III IIIIII P.O. Box 550 Arroyo Grande, CA 93421 _ FIRST AMENDMENT TO AFFORDABLE HOUSING AGREEMENT Titles: 1 Pages: 4 Faes Taxes Others PAID o.00 o.00 o.00 $o.00 THIS FIRST AMENDMENT TO AFFORDABLE HOUSING AGREEMENT ("First Amendment"), is made on the date hereinafter set forth by and between the City of Arroyo Grande ("City"), a municipal corporation duly organized and existing pursuant to the Constitution and laws of the State of California and Le Pointe Investments, LLC ("Developer"), a California limited liability company (collectively referred to herein as the "Parties"), and made with reference to the following facts: RECITALS WHEREAS, on January 9, 2008 that certain document entitled Affordable Housing Agreement (the "AgreemenY') was recorded as Document #2008-001218 of Official Records of San Luis Obispo County, California; and WHEREAS, the City Council of the City of Arroyo Grande has determined that it is in the best interest of the City and the community to amend Section 6.5 and 6.6 of the Agreement, entitled "Recertification of Tenant Eligibility" and "Annual Report" to require recertification and reporting every three (3) years. AGREEMENT NOW THEREFORE, the Parties agree as follows: 1. That Section 6.5 of the Agreement is hereby amended in its entirety to read as follows: Recertification of Tenant EliQibilitv. Every three (3) years on the anniversary date of the tenancy, or another date app�oved in advance by the City, an Independent Agency shall conduct a recertification of the income and eligibility of the household that occupies the Affordable Unit. 2. That Section 6.6 of the Agreement is hereby amended in its entirety to �.. read as follows: .� Tri-Annual Reaort. With respect to the rented Affordable Unit, every three (3) years, Developer shall provide a Report to the City on or before June 30� of each three year cycle, or at such other interval as mutually agreed by the parties, to enable the City to determine the Developer's compliance with the terms of this Agreement. The Report shall include the following information: (1) the certified income, household size, length of residency and other demographic and financial characteristics of the household that occupies the Affordable Unit; (2) the rent charged for the Affordable Unit; (3) the rent charged for comparable market-rate units at the Project; and (4) other pertinent information as may be required by the �ity. Reports shall be submitted to the City from an Independent Agency verifying compliance with the restrictions on rental of the Affordable Unit. Except as amended herein, the Agreement, and each and every term and condition therein, shall remain in full force and affect. IN WITNESS WHEREOF, this First Amendment has been duly executed by the undersigned as of the date set forth below. CITY OF ARROYO GRANDE . i�� '+ �� i ..- Date: t �71� �' LE POINTE INVESTMENTS LLC By' ��.►,.�..� �. t�.I�- ics: R�-.�ti� M�Y' Date: fc� �� O� ! ATTEST: KELLY Date: ? APPROVED AS TO FORM AND LEGAL EFFECT: TI THY J. EL, City Attomey Date� ��y��e�' FEB.19.2a08 11�48AM RRROYO GRRNDE CITY 1..� �../ N0.541 P.1i1 CALIRORNIA ALL•PURPOS6 ACKNOWLEDGMENT �h State pf 1 county ot �eSe,h��S j On Ill � o�CO before me, personally appeared 1'�Or OqIC1A1.�iiAt � A pY�AtM 11�1l1�y 111RIC • ORI�OM CO�INYON NO. !TM/Y who provetl to me on the basis of saGsfacWry evidence to be the person� whose namefd� is/� subscribed to the within instrumerrc and acknowledged to me that he/skw�4kiey executed the same in his�Ha�kluir authorized capacityyee); and that by hlsAaer�eir signature�(dj on the instrumarrt the personJ�J, or the entity upon behalf of which the person�,e'j acted, executed the instrument. I certiTy under PENAL'IY OF PEFiJURY under the laws of the State oi California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. PleceNatery9ee�Apove Signature�r a � o � h�� oPnoNac — 7)rough tha Inkrtnaflon below la not required by law, a may prove vyluabla ro persons reyMg on the documenf and eould preyent l�eudu�ont remaval and rnattachment of thla Porm ro anorher dacument. iption of Attached Document riee or 7yp f pocument; Document pata: Sl9ner(s) OtherThep Nemed Capacltypes) Claimed py Signer(s) SignePs Name: ❑ IndWldual G Corporate0(Fcet—Tdle(s): _ G Partner— � LimRad ❑ General p Attorney in Fact ❑ 1Yustee C7 Guardian or Conservator ❑ Other: Signer Is Representing: RIGI�ITT11114.ifIPRINT Of SIGN6R � a�,�.�h .�� b� � � erei eert ameenGTllie qieOrylear .--� , Numher of pages: 5lgner's Name: � Offlcer—Titls(s): _ 7 Partner� 4mRSd O General ❑ Attomey in f p'TFustee � Guardian or ❑ Other: _ Slgnerls Reprasen6ng: �2o0"1Ne11onelNOtaN��lpn•B3bOpe5p�o�va..Rn�eu2q�F•ChoµuviTh.CA913�3GR02•wm/.NatlanelNo4ary.ag Ilemil5BO1 qaoroarcei�,aFr•raei�oae�aeez� \... v �• •� � � � . . . :i<Csi✓-..:fasC-._<��«t� z3s_a...as,:m._�._.�._:. �.�•r:>� >,�>,.ai,:�.,»>.�t_:._3s_ s�:s_��._s�.�s_�-n.N.�<_�._:�.,nia.,�e,�,.,a.,.�,c.�' State of California County of � �� 5 O/g/� On 3' 7— �� before me, f� ��i�.� W��. /v(��7eY 1�lJ��G , Date Hera Insen Name antl ine o1 Me Olfice� personaliy appeared J�j �✓� .,. i�� , � . V � , ;�y • � , who proved to me on the basis of satisfactory evidence to be the person(ej'whose name;e)-is/are subscribed to the within instrument and acknowledged to me that he/spekkey executed the same in his/her#F�eir authorized capacity(ics), and that by hisA�er/Naeir signature(e) on the instrument the person{s), or the entity upon behalf of which the person{s} acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand d official seal. Signature �� Place Notary Seel Above Sign re No�ary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and cou/d prevent fraudu/ent removal and reattachment ol this lorm to another document. D ription of Attached Document Title or Type Document: Document Date: Signer(s) Other Than Name bove: _ Capacity(ies) Claimed by Signe Signer's Name: ❑ Individual ❑ Corporate Officer — Title(s): _ ❑ Partner-0 Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: RIGNTTHUMBPRINT OF SIGNER Number of Pages: Signer's Name: ❑ Individual Corporate Officer—Title(s): _ ❑ ner — � Limited ❑ General ❑ Attorn in Fact ❑ Trustee ❑ Guardian or Co rvator ❑ Other: Signer Is Representing: �200]NafionelNOtaryASSOCia6on•93WDeSO�oAve.,PO.Bm240YChaLti�voM,CA913132A02•www.NatlonalNOfary.org Item#590] ReorCecCallTOli-Free1-800-8]6-682] END OF DOCUMENT