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Home My WebLink AboutAmendment to Agreement for Buyer's Occupancy and Resale JULIE RODEWALD �F \ San Luis Obispo County—Clerk/Recorder 11/09/2011 � . ti Recorded at the requesl of 3:03 PM ' Public D 0 C#: 2011056677 Titles: 1 Pages: 4 RECORDING REQUESTED Fees 0.00 BY AND WHEN Taxes 0.00 RECORDED RETURN TO: Others 0.00 PAID S0.00 City of Arroyo Grande Attn: City Clerk . 300 East Branch Street Arroyo Grande, CA 93421 � FOR RECORDER'S USE ONLY AMENDMENT TO AGREEMENT FOR BUYER'S OCCUPANCY AND RESALE (NO RECORDING FEE— EXEMPT) This Amendment to Agreement for Buyer's Occupancy and Resale ("Amendment") is entered into on this � h day of 0✓�mh , 2011, by and between the City of Arroyo Grande, a California municipal corporation ("City") and Catherine Yonkers (°Owner"). A. WHEREAS, on December 6, 2007, City and Owner entered into a Buyer's Occupancy and Resale Agreement with Option to Purchase recorded in the official records of the County of San Luis Obispo on December 27, 2007 as Document No. 2007082431 ("Agreement°); and B. WHEREAS, City required Owner to execute the Agreement as a condition of Owner's purchase of the affordable housing unit commonly known as 579 Camino Mercado, Suite No. 405, Arroyo Grande and located within the Ocean Oaks Condominium development ("Property"), which Property is fully described in Exhibit"A" attached hereto and incorporated herein by this reference; and C. WHEREAS, the Agreement contains various provisions relating to Owner's occupancy and resale of the Property in accordance with the City's Affordable Housing Ordinance and prohibits Owner from leasing the Property to a third party; and D. WHEREAS, on August 10, 2010, the City Council adopted Resolution No. 4300 which temporarily authorizes the City Manager to make certain enumerated amendments to affordable housing agreements such as the Agreement between City and Owner upon a clear showing that the owner of the unit will incur a financial loss if required to sell the unit at the Maximum Sales Price (as defined in the affordable housing agreements); and E. WHEREAS, one of the enumerated allowable amendments permits the owner to rent the affordable housing unit at a market rate for a period of up to five (5) years provided that the sale of the unit is unlikely; and F. WHEREAS, Owner is the primary live-in caregiver of a friend who has been diagnosed with pancreatic cancer and Owner has requested that she be permitted to lease the Property while she cares for and lives with said friend; and .. i G. WHEREAS, the City Manager is agreeable to amending the Agreement to permit Owner to lease the Property during the period in which she lives with her friend but not for a period exceeding five (5) years in accordance with the authority granted to him in Resolution No. 4300. � NOW, THEREFORE, in consideration of the benefits received by Owner and City hereunder, Owner and City agree as follows: 1. Notwithstanding any provision in the Agreement, including, but not limited to, Section 4, Leasing of Home, and pursuant to the authorization contained within Resolution No. 4300, Owner is hereby permitted to lease the Property during and only during the period in which Owner acts as a live-in caretaker for her friend who has been diagnosed with pancreatic cancer but not for a period exceeding five (5) years, said period commencing on the date of this Amendment. Upon the expiration of the five (5) year term or on the date on which Owner no longer acts as the live-in caretaker for the above referenced friend,whichever occurs first, Owner shall again occupy the Property as her principal place of residence as required by Section 3 of the Agreement. Notwithstanding the above, Owner remains free to sell the Property in accordance with the terms and conditions provided in the Agreement throughout the duration of the lease period. 2. Except as otherwise amended herein, all other provisions of the Agreement shall remain in full force and effect. IN WITNESS WHEREOF, the parties have executed this Amendment as of the day and year first written above. CITY OF ARROYO GRANDE OWNER By: By: � Steven Adams, City Manager Catherine Yonker � r. � , Exhibit "A" Real property in the City of Arroyo Grande, County of San Luis Obispo, State of California, described as follows: A CONDOMINIUM COMPRISED OF: PARCEL 1: Airspace Envelope No. 45 of Tract 2616, in the City of Arroyo Grande, County of San Luis Obispo, State of California, as shown and particularly described on the First Amended Condominium Plan for Tract 2616, recorded January 11, 2007 as Instrument No. 2007-002198 of Official Records. EXCEPTING AND RESERVING THEREFROM, a non-exclusive easement for access, ingress, egress, encroachment, maintenance, repair, drainage, support and for other purposes, all as described in the Second Amended and Restated Declaration of Covenants, Conditions and Restrictions Establishing a Plan of Condominium Ownership of Tract 2616 ("Declaration"), recorded March 7, 2007 as Instrument No. 2007-015380 of Official Records. PARCEL 2: � An undivided 1/61 interest as a tenant in common in the Undivided Interest Common Area as defined in the Declaration, referred to above, which Undivided Interest Common Area consists of the real property described as Lot 1 of Tract 2616, in the City of Arroyo Grande, County of San Luis Obispo, State of California, according to map recorded July 19, 2005 in Book 26, Pages 81 and 82 of Maps, in the office of the County Recorder of said county, including any Undivided Interest Common Area duly joined through a duly authorized Declaration of Annexation pursuant to the Declaration. EXCEPTING AND RESERVING THEREFROM, Airspace Envelopes 1 through 61 inclusive, and any and all improvements that are or will be located thereon. ALSO EXCEPTING AND RESERVING THEREFROM, non-exclusive easements for access, ingress, egress, encroachment, maintenance, repair, drainage, support, and for other purposes, all as described in the Declaration. PARCEL 3: An exclusive easement for storage and parking appurtenant to Parcel One, which storage area and parking area are defined in the Declaration, for use as may be permitted in the Declaration. PARCEL 4: Non-exclusive rights appurtenant to Parcel One above, for access, ingress, egress, encroachment, maintenance, repair, drainage, support and for other purposes all as described in the Declaration referred to above. APN: 007-776-045 ,:.. � � State of California ) County of �Q.b'1 �!5 CXJiS,ob) On � 1��- < < , 2011 before me,°�. l L W `��-�, Notary Public, personally . appeared S-�-P��-Q r` /�cl�'h S who proved to me on the basis of satisfactory evidence to be the person(.a�whose name{� is/afe subscribed to the within instrument and acknowledged to me that he/sFiekf�y executed the same in his/beN#+�eir authorized capacities and that his/he�Sh�ir signature.(.s�) on the instrument the person�) 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 the foregoing paragraph is true and correct. WITNESS my hand and official seal. � KELLY WETMORE Commisslon I 1837570 •i Notery Publlc-Callfornie Signature (SEAL) San Luis OOlspo County � M Comm.Ex Ires Feb 21,2013 State of California ) . County of 5(,L.�,[,��'s Ob�fp o ) On no�►,�� , 2011 before me,"(�,cYa,b, Lat Wet�c,�u�brv, Notary Public, personally appeared CA+he�,'h.� `�onfc..t✓ who proved to me on the basis of satisfactory evidence to be the person{s�whose name(a'f is/ar� subscribed to the within instrument and acknowledged to me that�/she/t�i executed the same in I�' '/her/tbei�uthorized capacities and that I�s`/her/t�r signature(3'f on the instrument the person�'or the entity upon behalf of which the person(,a'f acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California the foregoing paragraph is true and correct. WITNESS my hand and official seal. DEBORAH LEE NfE1CH�NGER � ' Commisslon#► 1938997 Signature �C�G, 1�i�!'.�"i.�� (SEAL) '�� Notary Public -Celllornl0 _ S�n Luie OD�SFo County Conrt� rp M 12 201 DEBORAH LEE WEICHiNGER ' Comm�ssion I�935987 � .: Not�ry Pubtk•Cdifomta ' " S�n Lule Oblepo Count�r � Comm. rea Me 12,Z015 �''' �ND O�D��;r.A��T