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HomeMy WebLinkAboutAttachment QTII l :ir ll r i prpar e 7 b Cynthia John o -Stacks. rsc.. "Assistant Count\' .-^. riOrn_\ COuu[v ATtoTIV:2V' s Irrfce 11iani-Dade Ccunr\ _Attachment Q DECLARATION OF RESTRICTIVE COVENANTS THIS DECLARATION' OF RESTRICTIVE COVENANTS (Declaration) dated as of 200 by ("Project Sponsor") and. ("Titleholder"), their successors ,and assigns, is fliven to the United State Department of Housing and Urban Development (HUD). RECITALS WHEREAS, the Project Sponsor participated in a consolidated application to HUD, dated as of for a Supportive Housing Grant; which Grant was awarded; and WHEREAS Miami -Dade County (the Recipient) entered into a Supportive Housing Grant (FL14B ), on t and WHEREAS, the Recipient entered into an Agreement dated with the Project. Sponsor (the Project Sponsor Agreement) in which the Project Sponsor is obligated to acquire and rehabilitate directly or through its single -asset affiliate as defined below and operate a supportive housing project on property described in Exhibit A hereto (the "Property"), which is to be maintained and operated as supportive housing as defined by the Agreement; and WHEREAS, the Project Sponsor has created (the "Titleholder"), an affiliated single -asset corporation whose board of directors is the same as the board of directors of the Project Sponsor, for the sole. purpose of acquiring and rehabilitating the Property ; and WHEREAS, the McKinney-Vento Homeless Assistance Act, 42 USC §§ 11381 et. seq. ("ACT") imposes use and repayment requirements on projects receiving acquisition, rehabilitation and new construction funding; and WHEREAS, the Recipient is required by the Agreement to require the Project Sponsor, and the Project Sponsor is required by the Project Sponsor Agreement, to cause to be executed an instrument in recordable form which obligates the Project Sponsor, its successors and assigns, to operate and maintain the supportive housing in accordance Vrith the Agreement, the ACT and HUD regulations as provided for in the Agreement: and WHEREAS, the Project Sponsor and the Titleholder under this Declaration intends, declares and co\ enants that the restrictive covenants set north herein shall be and are covenants running with th the. Properly for the term described herein; and are binding. upon al) subsequent owners of the Property for such term, and are not merle persona l co\'enants of the Project Sponsor and the Titleholder; NOW, , THEREFORE . in consicleration of the promises and coy enar:t_ l:ereir,alt,: e. forth and of oih2r valuable consideration, the receipt and suificiencA 'JI ".ni•cb is her: aclenowledoed. the Project Sponsor declares as Iollows: 1. The Project Sponsor and the Titleholder; their successors or assigns. shall or rtt flag supportive housing and provide supportive service's throughout a period of tvieni (='01 rears corunencing from the -date of initial occupancy or the provision of initial services. in accordance with terms of the Agreement, the ACT, HUD regulations, and all applicable federal, state anc local laws. 3. If, pursuant to a request from the Project Sponsor, HUD determines that the project is no longer needed for use as supportive housing, HUD may authorize the Project Sponsor and the Titleholder, their successors or assigns, to convert the use of the project for the direct benefit of low-income persons. Upon expiration of the period during which the Project Sponsor is obligated to operate the Property in accordance with the Agreement, this Declaration shall terminate and shall no longer be effective. 3. The Project Sponsor and the Titleholder agree, that if the project ceases to be used as supportive housing within ten (10) years after the project is placed in service, the Project Sponsor and the Titleholder, their successors or assigns, shall be obligated to repay HUD one hundred percent (100%) of any assistance received for acquisition, rehabilitation and new construction under the Agreement. If such project is used as supportive housing for more than ten (] 0) years, HUD shall reduce the percentage of the amount required to be repaid by ten (10) percentage points for each year in excess of ten (10) that the project is used as supportive housing. 4. HUD, acting by and through a duly authorized official, may approve such action as may be necessary to allow the transfer, conveyance, assignment, leasing, mortgaging, or encumbering of the Property or to accomplish the acts described above. y 5. This Declaration and the covenants set forth herein regulating and restricting the use and occupancy of the Property (i) shall be and are covenants running with the Property, encumbering the Property for the term of this Declaration, and binding upon the Project Sponsor's successors in title and all subsequent owners of the Property. (ii) are not merely personal covenants of the Project Sponsor, and (iii) shall bind the Project Sponsor and its respective successors and assigns during the term of this Declaration. 6. Any and all requirements of the laws of the State to be satisfied in order for the provisions of this Declaration to constitute deed restrictions and covenants running with the land shall be deemed to he satisfied in full, and that any 7equirernents or privileges of estate are intended to be satisfied, or in the alternate, that an equitable servitude has been created to insure that these restrictions run v,'ith the land. For the term of this Declaration, each and every contract, deed, or other instrument hereafter executed conveying the Property or ponion thereof shall expressly, provide that such conveyance is subject to this Declaration, provided, however, that these covenants contained herein shall survive and be effective regardless of whether such contracts, deed or other instrument hereafter executed conveying, the Property or ponion thereof provides that such cc,nvevance subject to the. Declaration. Thy invaiidiry clads, part or pro iston Or this shah ;7o! ull�ir', Oi th2 rer„aininportions int:rco[. IN WITNESS WHEREOF, the Project Sponsor hzs caused this .rem ant to be signed a'. its actnr�ri�e representatives, as of the day and year first above Gent PROJECT SPONSOR TITLE HOLDER BY: BY Signature ionarure Tide Title STATE OF FLORIDA SS. COUNTY OF MIAMI-DADE I HEREBY CERTIFY that the foregoing DECLARATION OF RESTRICTIVE COVENANTS was executed and acknowledued before me on this da\• by as PRESIDENT, of INC. who is: Personally Known OR Produced Identification Type of Identification Produced And by as PRESIDENT, of , INC. who is: Personally Known OR Produced identification Type of Identification Produced before me, a Notary public duly authorized in the State and county named above to take acknowledgments and who ( ) did ( ) did not take an oath. \tiitnesserh my hand and official set.! in the State and Comv-v above, this day of lon4. NOTARY PUBLIC. Slate or Florida ''T Corntnission pir