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This Instrument Prepared By
and Return To:
kirk R. Menendez, Esq.
City of Miami
City Attorney's Office
444 S.W. 2ND Avenue
Ivfiami, Florida 33130-1910
DECLARATION
OF
RESTRICTIVE COVENANTS
This Declaration of Restrictive Covenants (the "Covenant") made this 20 day of
, 2006 by Rafael Hernandez Housing & Economic Development, Inc., a Florida not -
for -profit corporation (hereinafter referred to as "Rafael Hernandez"), is in favor of the City of
Miami, a municipal corporation of the State of Florida (hereinafter referred to as the "City").
RECITALS
WHEREAS, pursuant to Resolution No. 05-0522, passed and adopted by the City of
Miami City Commission on September 8, 2005, the City of Miami City Commission authorized
the conveyance of three (3) City of Miami -owned parcels of land ("Property"), as described in
Exhibit A, to Rafael Hernandez for the construction of three (3) single family homes to provide
ownership opportunities to qualified Low Income families and individuals ("Project"); and
WHEREAS, the City and Rafael Hernandez intend and agree that Rafael Hernandez shall
construct on the Property single family homes affordable to Low Income Families and
Individuals as defined in 24 CFR Part 92 (the "HOME Regulations"); and
WHEREAS, Rafael Hernandez desires to make a binding commitment to assure that the
Property and the Project shall be developed in accordance with the provisions of this Covenant.
NOW THEREFORE, Rafael Hernandez voluntarily covenants and, agrees that the
Property and the Project shall be subject to the following restrictions that are intended and shall
be deemed to be covenants running with the land and binding upon Rafael Hernandez, and its
heirs, successors and assigns as follows:
Section 1. The recitals and findings set forth in the preamble of this Cp:wetan_ 'E're":
hereby adopted by reference thereto and incorporated herein as if fully set forth in thi' .,$.ec'tit5}5,'�
Section 2. Use of the Property: One (1) single family homes shall be Constructed. -on 11'
the Property. The single family homes developed on the Property shall remain Affozclbble1:0;t.v,
Income Families and Individuals for a period of thirty (30) years, for each such home
commencing on the date of issuance of all required certificates of occupancy.
Section 3. Term of Covenant: This Covenant shall remain in full force and effect
and shall be binding upon Rafael Hernandez, its successors and assigns for a period of thirty (30)
years, for each such home commencing on the date of issuance of all required certificates of
occupancy.
Section 4. Rafael Hernandez covenants and agrees not to encumber or convey any
interest in the Project or the Property without the prior written consent of the City. For the
purposes of this Covenant, any change in the ownership or control of Rafael Hernandez shall be
deemed a conveyance of an interest in the Project.
Section 5. Rafael Hernandez covenants and agrees that in the event (i) of a
conveyance of any interest in the Property or the Project without the prior written consent of the
City, or, (ii) that Rafael Hernandez ceases to exist as an organization, Rafael Hernandez shall
immediately re -convey to the City clear title to all of its right, title and interest in and to the
Property.
Section 6. Rafael Hernandez covenants and agrees that any deed conveying a Project
home to a Low Income homebuyer shall contain the following restrictive covenant:
"This property is subject to the following restrictions and requirements for
a period of thirty (30) years from the date of issuance of the certificate(s) of
occupancy (the "Affordability Period"): (i) that the property conveyed hereby
remain Affordable to a reasonable range of Low Income homebuyers, (ii) that a
Low Income homebuyer will occupy the property as the family's principal
residence, (iii) that the price at resale to any prospective owner of the property
must provide the original HOME -assisted owner a fair return on investment, and
may not exceed the City of Miami's price limit in effect at the time of sale, (iv)
that any purchaser or other prospective owner of the property during the
Affordability Period must receive the prior written approval of the City of Miami
(the "City"), and (v) that any resale of this property must include all appliances.
Capitalized terms used herein have the meanings provided in the HOME
Investment Partnerships Program Regulations, 24 C.F.R. Part 92."
Section 7. Inspection and Enforcement: It is understood and agreed that any official
inspector of the City shall have the right any time during normal working hours to enter the
Property and investigate the use of the Project/ Property to determine whether the conditions of
this Covenant are being complied with.
Section 8. Amendment and Modification: This Covenant may be modified,
amended, or released as to any portion of the Project/ Property by a written instrument executed
on behalf of the City and by the then owner of the fee simple title to the land to be affected by
such modification, amendment or release. Should this instrument be modified, amended or
released, the City Manager shall execute a written instrument in recordable form to be recorded
in the Public Records of Miami -Dade County, Florida, effectuating and acknowledging such
modification, amendment, or release.
Section 9. Severability: Invalidation of one of the provisions of this Covenant by
judgment of Court shall not affect any of the other provisions of the Covenant, which shall
remain in full force and effect.
Section 10. Recordation: This Covenant shall be filed of record among the Public
Records of Miami -Dade County, Florida, at the sole cost and expense of Rafael Hernandez.
Section 11. This Covenant is a covenant running with the land. After the expiration of
the Affordability Period, this Covenant shall lapse and be of no further force and effect.
Section 12. All capitalized terms not defined herein shall have the meanings provided
in the Agreement.
IN WITNESS WHEREOF, Rafael Hernandez has caused this Declaration of Restrictive
Covenants to be executed by its duly authorized officers and the corporate seal to be affixed
hereto on the day and year first above -written.
ATTEST:
L, .!:-''.::i.1 k /. 1, `it'�•i.
I y�
Rafael Hernandez Housing and Economic
Development, Inc.
2400 N. Miami Avenue
Miami, FL 33127
Rafael Hernandez Housing and Economic
Development, Inc., a Florida not -for -profit
corporate
orres-Kap . n, Executive Director
-3-
ACKNOWLEDGMENTS
STATE OF FLORIDA
) SS:
COUNTY OF MIAMI-DADE )
TIE FOREGOING INSTRUMENT was acknowledged before me on this day of
�.'.. > . , 2006 by J z-vu >< �� [ J c , as -,x. .(LG c_
of z!z�j%!.I-z-L-, n behalf ?fe 1 ,�<< J COY c� i who is personally known to me or who
produced as identification and did/did not take an oath.
!,,,u��u,,, to T. R.SON
p"4 Notary Public = State of Florida
: .erNka27,2007
Commpssion # DO 197357
Bandod Cy f lattonat Notary Assn.
Rafael Hernandez-Covenant-Conveyance-3-30-06
Signature of Notary Public
Name of Notary Public, typed, printed or
stamped
Notary Public State of Florida at Large
Serial number, if any:
-4-
OR r 241510 �_
PAGF
EXHIBIT A
Lot 12, Block 1, of Amended Plat of DONMOORE VILLA, according to
the Plat thereof, as recorded in Plat Book 6, at Page 7, of the Public
Records of Dade County, Florida a.k.a. 98 N.W. 27 Street, Miami, Florida.
STATE OF FLORIDA, COUNTY OF DARE r...,: =`1:
'ERF_P1'CE Tli=Y;hetthrstsat! •r :i ,.•.0�<71t�,,\C
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