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Home My WebLink AboutFirst Amendment to Affordable Housing Agreement� a d � RECORDING REQUESTED BY: and WHEN RECORDED MAIL TO: City of Arroyo Grande City Clerk's Office P.O. Box 550 Arroyo Grande, CA 93421 � __ -- — JULIE RODEWALD sc San Luis Obispo Counry — Clerk/Recorder 4i70/2008 flecorded al ihe requast nf 4;3p PM Public �oca: 2008018345 I I IIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIII FIRST AMENDMENT TO AFFORDABLE HOUSING AGREEMENT iitles: 1 Pages: 4 Fees D.Oo raxes o.00 Others 0.00 PAID $0.00 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 Eliaibilitv. Every three (3) years on the anniversary date of the tenancy, or another date approved 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 Re�ort. 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 comp�iance 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 compiiance with the restrictions on rental of the Affordable Unit. Except as amended herein, the Agreement, and each and every term and condition therein, shali 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 ��ii'� w — . ... ..- Date: � �7�� ATTEST: KELL' Date: , 3�1 ! � � City APPROVED AS TO FORM AND IEGAL EFFECT: TI THY J. EL, City Attomey LE POINTE INVESTMENTS LLC B y' Y �r�v�t�— �, l�-•I�� ns: Wta-+ti-�� MP��Y' Date: 1c� �� m� Date: ��y�C7�' FEB.19.2008 11�48RM RRROYO GRANDE CITY ' � �h State of l county of _�ese,hL�.� 1 who proved to me on tne basis of saGsfaptory evidence to be the pe�son(,gf whase name�j is/p�e subscribed to the within instrument and acknowledged to me that he/sbv�eq executed the seme in hisNiaF4l�air autharized capaciryjjse); and that by hls/�er�qeir signature�dj on the instrumant the personj,srJ, or the endty upon behalf of which the person�'j acted, executed the InstrumeM. N0.541 P.1i1 On o��0 before me, V{��i.�.�nS�'1 , N� {�U�fJ� 1� � �(�� nere ineert neme ena nne�n me omeer personally appeared �L.� (�Or ��R� rvama�e� m sia�xree� OMICY1l fiAl ! A MM�At11 M{1M�It 1'rMIC • OM�OM GCMw110N NO. RN/� I certify under PENALTY OF PEF�JURY under the laws of the State of California that the foregoing paragreph is true antl correct. �... WITNESS my hand and official seal. PleceNomry9ealMwe Signature e�,reo r�re wN� b OPTIONAL 7lrough dfe I�MrmeNan bebwla not required by law, i� may piove �IUaWo ta persens relylllg rn the docqmenf ar� could preyent Ireudulent romoval and raattachmeni o(thla lorm to enotberdocumani. of Attached Document TIHe or7yp f Dxument: Document pate: Sjgner(s) DtherThan Capaclry(pes) Claimed qy 3igner's Name: ❑ IndWldual ❑ CorporateOffiae�—Title(s): _. ❑ Partner — i'J Limited p Qeneral ❑ Attorney in Fact p TFustee � Guardian or Conservator ❑ Other: Signar Is Aepresenting: RIGI�ITTIIIIhifIPRIPIT o� SIC,N�R Number of pages: Slgners Name: � Co te Officer — Titls(s): _ 7 Partner Limited � General ❑ Attomey in Fa ❑ TFustee O Guardian or Conservaror ❑ Other: Slgner Is Representing: 9 a ] o'trye�WnalNalery<eeaclellon•B3bD^_a5do�we.,p.npeu'�Oq.�hOVPmMh,GA9�3�32p02•waw.NatlanelN�ly,qp neR1115B0] qeoNe�Celf�qhf•1eal�eoo.e7BA9¢7 �.� � .- -. . � , ?3. ,:�t,. a< ai,:�>_�._n.��N,�«c2 State of California County of l, fl'N ��{S �lj/S� on 3- 7— a g betore me, �U..�/ GU��R� ��Rsl p�8c(G Da[e � / n � Here Insert Name an0 ftlle of �he O/iicer 1 � personally appeared S f E�� N /�i'�A19A-5 Name(s) o� Signeqs) KELLV WETMORE Comm4ssion N 1 Sd9)J9 � ��, pubyc - CoxloMo � ~ � San lWt ObhPo CaM�1V � � �pyos Feb 3. 20 who proved to me on the basis of satisfactory evidence to be the person(a)'whose name(s)-is/are subscribed to the within instrument and acknowledged to me that he/slae{Hae�r executed the same in his/her�Naen authorized capacity(ias), and that by hisA�er�lHeir signature(ej 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 Seal Above Sign re Notary Public OPTIONAL Though the information 6elow is not required by law, it may prove valua6/e to persons re/ying on the document and cou/d prevent lraudulent removal and reattachment of this lorm to another document. D iption of Attached Document TitleorType Document: Document Date: Signer(s) Other Than Name bove: _ Capacity(ies) Claimed by Signe Signer's Name: ❑ Individual ❑ CorporateOfficer—Title(s): _ ❑ Partner—� Limited ❑ General ❑ Attorneyin Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: RIGHTTHUMBPRINT OF SIGNER Number of Pages: Signer's Name: ❑ Individual Corporate Officer — Title(s): ❑ ner — 0 Limited ❑ General ❑ Attorn in Fact ❑ Trustee ❑ Guardian or Co rvator ❑ Other: Signerls �2W]NaHOnalNOfaryASSaciaHOn•9350DeSOroAVe.,PO.BOx2902•CM1a�swoNqCA913132402•wwwNafionalNOtary.org I[em#590� ReoNecCallT011-Freet-800-B16-682] END OF DOCUMENT