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HomeMy WebLinkAboutDeed 1438 2012-0061597 1438 t L , DOC # 2012- 0061597 "1 02/10/2012 08:00 AM Fees: $0.00 ycol �� �� Page 1of8 ono Re t ed B Recorded in Official Records First American T iti Compa County of Riverside Larry W. Ward Assessor, County Clerk & Recorder RECORDING REQUESTED BY: ) REDEVELOPMENT AGENCY OF ) * *This document was electronically submitted THE CITY OF CATHEDRAL CITY ) to the County of Riverside for recording ** , ) Receipted by: YSEGURA • AND WHEN RECORDED RETURN TO: ) i ) REDEVELOPMENT AGENCY OF ) THE CITY OF CATHEDRAL CITY ) 68 -700 Avenida Lalo Guerrero ) 1 Cathedral City, CA 92234 ) p Attn: Agency Secretary ) APN: 680 - 273 -011 ) • s (Space Above for Recorder's Use) i Exempt from Recording Fees Per Government Code Section 27383 NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY 1 Important notice to owners, purchasers, lenders, brokers, escrow 1 and title companies, and other persons, regarding affordable housing restrictions on the real property described in this Notice: 1 Restrictions have been recorded with respect to the property as more fully described in Attachment No. 1 attached hereto and incorporated herein by this reference (hereinafter referred to '' in this Notice as the "Property ") which restrict the price and terms at which the Property may be sold or rented (the "Affordable Housing Restrictions "). The Affordable Housing Restrictions may limit the sales price of the Property to an amount which is less than the fair market value of the Property. °; The Affordable Housing Restrictions also limit the income of persons and households who are permitted to purchase the Property (referred to in this Notice individually as a "Purchaser" or collectively as "Purchasers "). , Title of Document Containing Affordable House Restrictions: Declaration of Affordability Covenants (referred to in this Notice 1 as the "Affordable Housing Restrictions "). The Affordable Housing Restrictions are recorded concurrently with this Notice, official records of the County of Riverside, State of California. 1 Parties to Affordable Housing Restrictions: Redevelopment Agency of City of Cathedral City (the "Agency "); and Habitat for Humanity 1 Page 1 1 1 1 ' Pe dina Requested By First American ! tie Compaa)j i 1 RECORDING REQUESTED BY: ) ) REDEVELOPMENT AGENCY OF ) THE CITY OF CATHEDRAL CITY ) -) ) AND WHEN RECORDED RETURN TO: ) ## € ) REDEVELOPMENT AGENCY OF ) t THE CITY OF CATHEDRAL CITY ) 1 68 -700 Avenida Lalo Guerrero ) Cathedral City, CA 92234 ) Attn: Agency Secretary ) APN: 680 - 273 -014 ) (Space Above for Recorder's Use) E xempt from Recording Fees Per Government Code Section 27383 i NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY 1 1 Important notice to owners, purchasers, lenders, brokers, escrow and title companies, and other persons, regarding affordable housing restrictions on the real property described in this Notice: i Restrictions have been recorded with respect to the property as more fully described in Attachment No. 1 attached hereto and incorporated herein by this reference (hereinafter referred to in this Notice as the "Property ") which restrict the price and terms at which the Property may be sold or rented (the "Affordable Housing Restrictions "). The Affordable Housing Restrictions may limit the sales price of the Property to an amount which is less than the fair market value of the Property. The Affordable Housing Restrictions also limit the income of persons and households who are permitted to purchase the Property (referred to in this Notice individually as "Purchaser" or collectively as "Purchasers "). Title of Document nt Containin Affordable House Restrictions: Declaration of Affordability Covenants (referred to in this Notice as the "Affordable Housing Restrictions "). i The Affordable Housing Restrictions are recorded concurrently with 1 this Notice, official records of the County of Riverside, State of 1 California. ) Parties to Affordable Housing Restrictions: Redevelopment Agency of City of Cathedral City (the "Agency "); and Habitat for Humanity i a Page 1 I i I of the Coachella Valley, Inc., a California non - profit public benefit corporation ( "Developer "). Term of Affordable Housing Restrictions: The term of the Affordable Housing Restrictions shall be for forty -five (45) years, commencing on January 27, 2012 and terminating on January 26, 2057. Summary of Affordable Housing Restrictions: The Affordable Housing Restrictions restrict the sales price of the Property which may be charged for the sale of the ownership housing unit on the Property as follows: • Affordable Housing Cost: the Property shall be maintained as affordable as provided under California Health and Safety Code section 50052.5. The Affordable Housing Restrictions restrict the income level of the buyer of the Property as follows: • Lower income households: Purchaser shall qualify as a lower income household as that term is defined in California Health and Safety Code section 50079.5. The Affordable Housing Restrictions place the following additional restrictions on the transfer of the Property as follows: • Right of first refusal: both Developer and the Agency shall have a right of first refusal upon the proposed resale by Purchaser as such right is more fully described in that certain Right of Repurchase, Option to Purchase and Right of First Refusal recorded against the Property; • Refinance and Cash Out Restrictions: Purchaser may not, during the term of the Affordable Housing Restrictions, refinance the loan(s) used to purchase the Property (the "Purchase Loan "), without the express written approval of the Agency, which shall not be unreasonably withheld; • Occupancy Standards: the Property shall be occupied as the principle residence of Purchaser and for no other purpose; and • Prohibited Transfers: any sale or transfer of the Property, or any interest therein, in violation of the terms and conditions of the Affordable Housing Restrictions Page 2 LEGAL DESCRIPTION Real property in the City of Cathedral aty, County of Riverside, State of California, described as follows: LOT 14 OF PALM VIEW ESTATES, AS SHOWN BY MAP ON FILE IN BOOK 30 PAGES 17 AND 18 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. APN: 680-273-014-7 3 1 4 i 1 1 1 I I , is expressly and strictly prohibited and shall be null and void. This Notice does not contain a full description of the details of all of the terms and conditions of the Affordable Housing . Restrictions. You will need to obtain and read the Affordable I Housing Restrictions to fully understand the restrictions and ' requirements which apply to the Property. 1 i This Notice is being recorded and filed in compliance with Health and Safety Code Section 33334.3(f)(3) and (4), and shall be k indexed against the Agency and the current owner of the Property. Dated: / 1/ REDEVELOPMENT AGENCY OF CITY OF CATHEDRAL CITY By: 4-4,6 Executive Direc or - , i),„ Np . \ .�- I By: .4/ 1 / 7511-21---1-11— Secretary i Dated: /1500- 1 037 "DEVELOPER" HABITAT FOR HUMANITY OF THE COACHELLA VALLEY 1 4 By : 4 /.�f�/, lL Ise I Its: - Ae'sjL:71=7Wj'L CATH \0010- 17 \DOC \005.DOC i 8 \16 \11 300 hvt / 7(1 / U A.tsn- - k- 'Vov> l?• V\'V Its: e �eC� Tf� 1 4 1 1 1 4 5 1 I Page 3 i I 1 5 1 1 s 1 Attachment No. 1 1 DESCRIPTION OF PROPERTY Legal Description of Property: LOT 14 MB 030/017 PALM VIEW ESTATES Street Address of Property: 32 -395 Canyon Vista Drive, Cathedral City, CA 92234 APN: 680 - 273 -014 y a }} { q } €p� CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT 9aC5v.,. s. �. as 3,,a at .»' .a,..cat..,e �a. as,-',....., va> a,.nS,gx �t�aa4 ...aa _ a .t.,, ..a,h�,,,,t,,,, . a iatica..,,,,,,, ia;_Qac.„1.. t.. a .HAL: ,' 1 State of pa County - , rSi cI' . 7 • s ,� /2 lei 1 e le v O n l�,-"-he-o -^ /5 . /l efore mejr K Date Here Insert Name � , d Title of the Officer ' a / �1/ �: ill personally appeared �' �'�` '" Name(s) of Signer,( f. who proved to me on the basis of satisfactory evidence to I I be the person whose name(s) is/are subscribed to the within instrument and acknowledged to me that he /stie /they executed the same in I /perLteir authorized ca�(iee), and that byj/ber /their signature(s) on the instrument the person(* or the entity upon behalf of 1. which the person acted, executed the instrument. i JOSEFINA MEZA , t Commission #F 18 1 a z I certify under PENALTY OF PERJURY under the laws a •.n0 Notary Public - California z z z NV-ii, Riverside County of the State of California that the foregoing paragraph is :` M Comm. Expires Jul 10, 2013 t true and correct. I . WITNE my hand nd official seal) Signat -. -.._ ._ .1 x.- 'e Place Notary Seal Above Signature of Notary Public U 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. I Description of Attached Document 1 e or Type of current O e c f /iffl'rsf�,pi e5it / c ken-J 7, J .- j r ) Docu Date: e c_ ,0 , j34 ! S 1 a // N b r of Pages: Y Signer(s) Other Than Named Above: 1 4, � ` Q 4hr - 1 "/-S a �"'f e r lCi s 4lia1 4 Ao.4 - i Capacity(ies) Claimed by Signer(s) Si gner's Name- E. (fi c- � 1-e Signer's Name: 1 [1 Individual LC v .. z ❑ Individual Corporate Officer — Title(s):(r s c 4 c ❑ Corporate Officer — Title(s): ❑ Partner — El Limited 111 General ❑ Partner — ❑ Limited ❑ General RIGHT THUMBPRINT RIGHT THUMBPRINT [1 Attorney in Fact OF SIGNER ❑ Attorney in Fact OF SIGNER 3 Top of thumb here Top of thumb here [ J Trustee ❑ Trustee i❑ Guardian or Conservator ❑ Guardian or Conservator a ❑ Other: [1 Other: I S' ;ner Is Representing: Signer Is Representing: e LtI -lo M.o - k --... /� � - y. 1I1, rt., 3 0 `� L., 8 C.c,Y-t4_c • a,Cai; i fuf�:W/df'•vf' - f'a /' & •.e f'i 14, 5 1, s , Ca:1'Ca , •ef •a•f'ar 'ex •' 'ex ✓ a d,'exf'ext'aifvf'axcee.w, y4 ei • •.e,f-a+'f.a> . 1 ®2007 Natio r i Notary Association • 9350 De Soto Ave., PO. Box 2402 •Chatsworth, CA 91313 -2402 • www.NationalNotary.org Item 45907 Reorder: Call Toll -Free 1- 800 - 876 -6827 1 I 1 a 1 i i . 1 CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 3 ( State of California i pl 1 ( County of i i VevIdt) Orir aQ4' / efore me, E. C C �'yr It y nd Title of the Officer , /I��(jy'L A xMl c �1 / ,, / Q , ' ' //J �n ' ' Here Insert Na 1 �e�a I� ' ere t personally appeared VIt e L.t V a f Wig LI � �� Name(s) of Signer(s) who proved to me on the asis of satisfactory evidence to be the person whose nam ?(re subscribed to thew' hin instrument and acknowledged >> to me that h sh they executed the same in >> his /Fjer /their aut orized capacity(ies), and that by >> his 1&/their signature signatureX on the instrument the person;(, or the entity upon behalf of which the >> 1 person(sacted, executed the instrument. • f yj . _:� E. MCCARTHY I certify under PENALTY OF PERJURY under the > . f i CoCommission * 1934797 Z l aws of the State o California t hat t he foregoing I ( . i ■ �'. ;�! Notary Public - California z I �` 41 Riverside County paragraph is true and correct. >> ]" _" ' My Comm. Expires May 2, 2015 " " - " " " " " - " " WITNESS m land and official seal. >> a - >> Signature: • ` . d`�.111111. Place Notary Seal Above Signature of Notary Public . �)] 1 OPTIONAL ; - Though the information below is not required by law, it may prove valuable to persons relying on the document > f ( and could prevent fraudulent removal and reattachment of this form to another document. y j Description of Attached Document >> ' Title or Type of Document: >> Document Date: Number of Pages: >> >j Signer(s) Other Than Named Above: yj Capacity(ies) Claimed by Signer(s) > Signer's Name: Signer's Name: V i LI Corporate Officer — Title(s): El Corporate Officer — Title(s): V s ( Li Individual RIGHT THUMBPRINT ❑ Individual RIGHT THUMBPRINT \ OF SIGNER OF SIGNER f ❑ Partner — ❑ Limited ❑ General Top of thumb here ❑ Partner — ❑ Limited ❑ General Top of thumb here >> ❑ Attorney in Fact ❑ Attorney in Fact V ❑ Trustee ❑ Trustee ❑ Guardian or Conservator ❑ Guardian or Conservator >> 1 > > ❑ Other: ❑ Other: Signer Is Representing: Signer Is Representing: >j I. A © 2010 National Notary Association • NationalNotary.org • 1- 800 -US NOTARY (1 -800- 876 -6827) Item #5907 4 I 1 CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 1 (C ‘l State of Califor is ( County of 11 ✓ A n �y, , , 2 Or f (ftW�3(� 201Z before me, e • IV I C azvft / &) � f 1J �'G Here In Name and Title of the Offic r personally appeared 1'&-" (C (c- S WA. V t t 1v O -F" k Name(s) of Signer(s) who proved to me on the basis of satisf tory evidence to be the person(0/hose name is a 1 subscribed to)14e4xithin instrument and ack owledged ( to me tha he a /they executed the same in % Sher /their authorized capacity(je{ and that by s� hi her /their signature( on the instrument the person{ or the entity upon behalf of which the t j persons) acted, executed the instrument. z r s I certify under PENALTY OF PERJURY under the ' E. MCCARTHY laws of the State of California that the foregoing >> ti K Commission # 1934797 z paragraph is true and correct. • z 4400r):.. � Notary Public - California z >> z q' Riverside County �° My Co mm. E xpires May 2, 2015 t WITNESS m d and offici sea t / s� Signature: ' 444-44 ( Place Notary Seal Above Signature of Notary Pu• OPTIONAL, ( Though the information below is not required by law, it may prove valuable to persons relying on .. ument �� and could prevent fraudulent removal and reattachment of this form to another document. 1 Description of Attached Document ( Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: >> ( Capacity(ies) Claimed by Signer(s) >> >> Signer's Name: Signer's Name: ,1 ( ❑I Corporate Officer — Title(s): Corporate Officer — Title(s): ❑ Individual RIGHT THUMBPRINT ❑I ndividual RIGHT THUMBPRINT >> OF SIGNER OF SIGNER 1 ( ❑ Partner — ❑ Limited ❑ General Top of thumb here ❑ Partner — ❑ Limited ❑ General Top of thumb here >> ❑ Attorney in Fact ❑ Attorney in Fact i l ❑ Trustee ❑ Trustee >> ❑ Guardian or Conservator ❑ Guardian or Conservator ]°] ( ❑ Other: [A Other: �� 1 h� P Signer Is Representing: Signer Is Representing: P ;{ $�... -..� `..,... , .. ,..\. ,. `,.`,'. \_.n_.,',. .. - ... -...- .._ . —. '._. ,. .._ .._. "-.n_..\_..\_ ..., \_. —..- N-. 4 © 2010 National Notary Association • NationalNotary .org • 1- 800 -US NOTARY (1- 800 - 876 -6827) Item #5907 1 3 i z i t ( 4