HomeMy WebLinkAboutDeed 1356Deed 1356 RECORDING REQUESTED BY:
CITY OF CATHEDRAL CITY DOC # 2010-02731
CITY CLERK — OFFICE OF HOUSING ASSISTANCE 06/15/2010 08 : 00A Fee : NC
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68700 AVENIDA LALO GUERRERO Recorded in Official Records
CATHEDRAL CITY, CA 92235 -5001 County of Riverside
Larry W. Ward
Assessor, County Clerk & Recorder
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S R U PAGf SIZE DA MISC LONG RFD COPY
M A L 465 426 PCOR NCOR SMF NCH EXAM
T: CTY UNI�
COVENANT RUNNING WITH THE LAND and GRANT OF LIEN
(PAYABLE ONLY UPON SALE, REFINANCE OR TRANSFER) FF I
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062
THE UNDERSIGNED, - - ----- - - - - -- -James Michael Rybin and Jaime Olivares Trejo --------------------- - --- - -
COLLECTIVELY HEREINAFTER REFERRED TO AS "OWNERS ", whose address is:
39063 Sherry Circle , Cathedral City, CA 92234, owners of property located in the City of Cathedral City,
Riverside County, California, described as follows:
Lot No. 4 , in the subdivision known as Tract No. 2793 Shown by map on file in Book No. 50
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Pages 42 through 43 of Maps, Records of Riverside County, California.
i Assessor's Parcel No.: 686 -291-002 — (Such property hereinafter being referred to as " THE SUBJECT
PROPERTY ") do hereby GRANT A LIEN TO and COVENANT with THE CATHEDRAL CITY REDEVELOPMENT
AGENCY, 68700 Avenida Lalo Guerrero, Cathedral City, CA 92234, as a covenant running with the land,
enforceable by the Cathedral City Redevelopment Agency, a municipal corporation, as follows:
The OWNERS hereby acknowledge the receipt of financial assistance, services, repairs and improvements
or other benefits provided or paid for by the Cathedral City Redevelopment Agency, which assistance has
heretofore been made, or is intended to be made following the execution of this agreement, or both, to
property occupied by OWNERS, as his, her or their primary residence, situated in the City of Cathedral City,
Riverside county, CA, known as the Subject Property and covenant running with the land as to THE
SUBJECT PROPERTY, for the purposes and subject to the terms and conditions set forth hereinafter.
"OWNERS" SHALL INCLUDE THE SINGULAR OR THE PLURAL TO REPRESENT ALL OWNERS OF THE SUBJECT
PROPERTY.
THIS AGREEMENT MAY CONSTITUTE A LIEN ON THE SUBJECT PROPERTY.
OWNERS COVENANT AND AGREE THAT THE SUBJECT PROPERTY SHALL BE USED AND OCCUPIED AS THE
PRIMARY RESIDENCE OF HIMSELF, HERSELF OR THEMSELVES, AND FURTHER AGREES THAT IN THE
EVENTTHE PROPERTY IS TRANSFERRED OR SOLD, ANY SUCH TRANSFER SHALL BE SUBJECT TOTHE LIEN
AND COVENANT GRANTED TO CATHEDRAL CITY REDEVELOPMENT AGENCY BY THIS AGREEMENT. THIS
AGREEMENT IS INTENDED TO ASSURE CATHEDRALCITY REDEVELOPMENT AGENCY THAT THE PROPERTY
COVERED HEREBY SHALL BE USED AS THE PRIMARY RESIDENCE OF A PERSON OR PERSONS OF
MODERATE, LOW, OR VERY LOW INCOME, AS DETERMINED BY THE STANDARDS ESTABLISHED BY THE
UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD).
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Covenant 01102104 Page 1 Of 3
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AMOUNT SECURED: IF THIS PROPERTY IS SOLD, REFINANCED OR OTHERWISE TRANSFERRED TO
A PERSON OR PERSONS NOT QUALIFYING FROM THE STANDPOINT OF INCOME OR PRIMARY
OCCUPANCY, OR IF REFINANCING, CATHEDRAL CITY REDEVELOPMENT AGENCY SHALL BE ENTITLED
TO RECOVER FROM OWNERS, TRANSFEREE OR BUYER, OR ANY OR ALL OF THEM, AN AMOUNT
REPRESENTING THAT PORTION OF THE SALES PRICE OR THAT PORTION OF THE VALUE OF THE
PROPERTY TRANSFERRED REPRESENTING THE AMOUNTS CONTRIBUTED BYTHE INVESTMENTOF
CATHEDRAL CITY REDEVELOPMENT AGENCY IN REPAIRS AND IMPROVEMENTS OR OTHER FINANCIAL
ASSISTANCE TO THE PROPERTY WHICH WAS PAID FOR FROM AFFORDABLE HOUSING FUNDS OF
CATHEDRAL CITY REDEVELOPMENT AGENCY, INCLUDING AMOUNTS ADVANCED PRIOR TOTHE DATE
OFTHIS INSTRUMENT, ON THE DATE OFTHIS INSTRUMENT, AND SUBSEQUENTTOTHE DATE OFTHIS
INSTRUMENT. IN THE EVENT THE AMOUNT CONTRIBUTED BY CATHEDRAL CITY REDEVELOPMENT
AGENCY EXCEEDS THE ACTUAL VALUE OF THE PROPERTY, THAT FACTOR SHALL BE CONSIDERED,
BUT SHALL NOT BE DETERMINATIVE OF THE AMOUNT DUE TO THE CATHEDRAL CITY
REDEVELOPMENT AGENCY FROM OWNERS, THE TRANSFEREE AND /OR THE BUYER, OR ANY OR ALL
OF THEM. IN NO CASE, HOWEVER, SHALL THE AMOUNT TO BE RECOVERED BY CATHEDRAL CITY
REDEVELOPMENT AGENCY BE GREATER THAN THE TOTAL AMOUNT INVESTED IN REPAIRS,
IMPROVEMENTS AND FINANCIAL ASSISTANCE TO THE PROPERTY OR ITS OCCUPANT - OWNERS BY
CATHEDRAL CITY REDEVELOPMENT AGENCY. NO INTEREST, FEES OR ADMINISTRATIVE COSTS
SHALL BE CHARGED TO THE CONSUMER.
CATHEDRAL CITY REDEVELOPMENT AGENCY SHALL PROVIDE TO THE OWNERS WITHIN FORTY
FIVE (45) DAYS OF A WRITTEN REQUEST THEREFORE. A STATEMENT OF THE TOTAL AMOUNT OF
ASSISTANCE TO BE REPAID IN ORDER TO RELEASE THIS LIEN AND COVENANT.
IFOWNERS GIVE NOTICE TO CATHEDRAL CITY REDEVELOPMENT AGENCY IN ADVANCE OF ANY SUCH
SALE, REFINANCE OR TRANSFER OF THE INTENT TO EXECUTE SUCH A SALE, REFINANCE OR
TRANSFER, CATHEDRALCITY REDEVELOPMENT AGENCY SHALL MAKE DETERMINATION ASTOTHE
AMOUNT DUE, IF ANY, UNDER THIS LIEN.
TERM: f
THIS AGREEMENT SHALL REMAIN IN FULL FORCE AND EFFECT UNTIL FORTY -FIVE (45) YEARS FROM THE
DATE OF THE LATEST INVESTMENT OF AFFORDABLE HOUSING FUNDS BY CATHEDRAL CITY
REDEVELOPMENT AGENCY FOR REPAIRS OR IMPROVEMENTS TO THE SUBJECT PROPERTY, OR UNTIL
SUCH EARLIER DATE AS THIS LIEN AND COVENANT AGREEMENT IS RELEASED BY CATHEDRAL CITY
REDEVELOPMENT AGENCY.
THE PARTIES DO FURTHER RECOGNIZE AS AN ADDITIONAL PURPOSE OF THIS AGREEMENT THAT
CATHEDRAL CITY REDEVELOPMENT AGENCY IS INTERESTED IN ENCOURAGING THE CONTINUED
OCCUPANCY OF THE PROPERTY AS THE AFFORDABLE PRIMARY RESIDENCE OF PERSONS OF MODERATE,
LOW OR VERY LOW INCOME.
NO BUILDING OR IMPROVEMENT UPON THE SUBJECT PROPERTY SHALL BE REMOVED FROM ITS PRESENT
LOCATION WITHOUT THE WRITTEN CONSENT OF CATHEDRAL CITY REDEVELOPMENT AGENCY, WHICH
WRITTEN CONSENT WILL NOT BE UNREASONABLY REFUSED.
IN THE EVENT THE SUBJECT PROPERTY IS OR BECOMES IN SUCH CONDITION AS TO BE CLASSIFIED AS
SUB - STANDARD HOUSING, CATHEDRAL CITY REDEVELOPMENT AGENCY SHALL HAVE THE OPTION ATTHE
TIME OF ANY PROPOSED TRANSFER OR , REFINANCE BY OWNERS, HIS, HER OR THEIR HEIRS,
ADMINISTRATORS, EXECUTORS AND ASSIGNS, OR HIS, HER, OR THEIR SUCCESSORS IN INTEREST, TO BUY
THE PROPERTY FROM OWNERS AND TAKE TITLE TO THE PROPERTY AND PAY TO THE OWNERS THE
REASONABLE VALUE OF OWNERS' INTEREST IN SUCH PROPERTY, AFTER DEDUCTION OF AMOUNTS DUE E
TO THE REDEVELOPMENT AGENCY. CATHEDRAL CITY REDEVELOPMENT AGENCY SHALL HAVE NO
OBLIGATION TO CONSENT TO THE SALE, REFINANCE OR TRANSFER OF SUB - STANDARD HOUSING, AND
SHALL HAVE THE RIGHT TO ENFORCE THIS OPTION AGREEMENT AT THE TIME OF ANY SUCH PROPOSED
TRANSFER, REFINANCE OR SALE, OR AT ANY TIME AFTER ANY SUCH TRANSFER, REFINANCE OR SALE I
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WHEN CATHEDRAL CITY REDEVELOPMENT AGENCY BECOMES AWARE OF SUCH TRANSFER, REFINANCE
OR SALE.
Covenant 01102104 Page 2 of 3
This covenant shall apply to, and continue to run with the land described herein, unless and until released
bythe Cathedral City Redevelopment Agency. Anysale, refinance ortransferof the property without full
compliance with the terms hereof shall be deemed a violation of this Covenant, in which event the
grantors, their heirs, executors, administrators and assignees, and any other successor in interest to the
property, shall be liable to the Cathedral City Redevelopment Agency for all reasonable costs and attorney
fees reasonably necessary to seek abatement and /or enforcement of the terms of this covenant, or to t
recover funds invested from the Agency's Affordable Housing Fund. This covenant shall remain in full
effect unless and until released by the Cathedral City Redevelopment Agency, a municipal corporation,
or its successor.
IN WITNESS WHEREOF T HE OWNERS have hereunto executed this document the. day of
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jias Michael Rybin J O iv s ,rejo
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ACCEPTED BY:
City of Cathedral City Redevelopment Agency - Office of Housing Assistance I
' Warren Brads have, Housing Programs Manager
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Covenant 01102104 Page 3 of 3
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CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT
State of C71' ia
County of V t I'S f cal .Q
On /� before me, O5�'��� f e2 o , � "7a i�`J
Date � Here Insert Name an itle of the Officer
personally appeared �ft � i�KCtR� T, �� Yt 0 w l� Yn,2
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Name(s) of Signer(s)
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Ila Commission 1 1857308
Notary Public - CaNfonas who proved to me on the basis of satisfactory evidence to
Riverside County be the person s) whose name s) ig/are subscribed to the
Comm. E es dul 10, 2013 within instrument and acknowledged to me that
156/sla,&_/tZ executed the same in his/her /t heir authorized
ca aci ies and that by iWher/their sig naturefs ) on the
instrument the persons , or the entity upon behalf of
' � which the persons acted, executed the instrument. 'r�r
s n r on fi 1857308
Z 'O {� Mill: lifo
- Carnia =
a +ersidecourq ' I certify under PENALTY OF PERJURY under the laws
Im. es ,Jul 10, 2013 of the State of California that the foregoing paragraph is
true and correct. ;
WITNESS my hand and official seal.
Si — �•-- _- ature '�—
• Place Notary Seal Above _.... -_. - -° -" Signature of Not ry Public / I
OPTIONAL �
Though the information below is not required by law, it may prove valuable to persons relying on the document
and could prevent fraudulent removal and reattachment of this form to another document.
Description of Attached Document /
Title or Type of Docume . l�jvM'a
Document Date: Number of Pages:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer(s)
Signer's Nam f Yv`-e- I ! " }j� /U Signer's Name: f ""e (' V u
[9 ndividual C ndividual
❑ Corporate Officer — Title(s): ❑ Corporate Officer — Title(s):
❑ Partner — ❑ Limited ❑ General _ ❑ Partner — ❑ Limited ❑ General _
❑ Attorney in Fact ❑ Attorney in Fact •
❑ Trustee Top of thumb here El Trustee Top of thumb here
{ ❑ Guardian or Conservator ❑ Guardian or Conservator
❑ Other: ❑ Other:
Sig Is Repres ry_ ing: Signer I Representi
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02007 National Notary Association • 9350 De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313 -2402 • www.NationaiNotary.org Item #5907 Reorder: Call Toll -Free 1- 800 - 876 -6827
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