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Report (2)
DocuSign Envelope ID:E82188BB-1311-4B1C-ABEE-4D67A1263CEA • SECTION 2. COVENANTS TO RUN WITH THE LAND; EQUITABLE SERVITUDE. The Grantor represents,covenants,warrants and agrees that a. The City is granting the exemption to the Grantor as an inducement to the Grantor to develop and operate the Project in accordance with the terms of this Agreement In consideration of the receipt of the exemption, the Grantor has entered into this Agreement with the City and has agreed to restrict the use of the Project during the Exemption Period as set forth in this Agreement. b. The representations, covenants, restrictions,granted by Grantor herein with respect to the Project shall be deemed restrictive covenants running with the Project land and also shall be deemed an equitable servitude running with the Project land in favor of and enforceable by City.These restrictive covenants and equitable servitude shall pass to and be binding upon the Grantor's successors in title including any purchaser,grantee or lessee of any portion of the Project, shall pass to and be binding upon the respective heirs, executors, administrators, devisees, successors and assigns of the Grantor or any purchaser, grantee or lessee of any portion of the Project and shall pass to and be binding upon any other person or entity having any right,title or interest in the Project Each and every contract,deed or other instrument hereafter executed covering or conveying the Project or any portion thereof or interest therein shall contain an express provision making such conveyance subject to the covenants,restrictions,and charges contained herein;provided,however,that any such contract,deed or instrument shall conclusively be held to have been executed,delivered and accepted subject to such covenants,restrictions and charges regardless of whether or not such covenants,restrictions and charges are set forth or incorporated by reference in such contract,deed or instrument. SECTION 3. BURDEN AND BENEFIT. The parties hereby declare their understanding and intent that the burdens of the covenants,restrictions,and charges set forth herein touch and concern the Project land and that the Grantor's legal interest in the Project may be rendered less valuable thereby. The parties further declare their understanding and intent that the benefits of such covenants,restrictions,and charges touch and concern the Project land by enhancing and increasing the enjoyment and use of the owners and tenants of the development,the intended benefiriaries of such covenants, restrictions, and charges and by furthering the public purposes for which the exemption is granted. SECTION 4. COMPLIANCE REPORTING. The Parties hereby agree that Grantor,if requested by the City,will provide certification,in a format approved by the City in its sole discretion,that the Grantor is fulfilling its obligations under this Agreement The City may inspect the Project, and any part thereof, and may inspect and copy all records of the Project, upon reasonable notice to the Grantor. The Grantor, its agents, employees, and subcontractors will cooperate fully with the City in any requested inspection or compliance monitoring. SECTION 5. TERM OF AGREEMENT. The parties agree that this Agreement and the restrictive covenants and equitable servitude created hereunder shall become effective upon execution of this Agreement and shall remain in full force and effect for a 20-year Exemption Period. Notwithstanding any other provision of this Agreement, this Agreement shall terminate and be of no further force and effect in the event of a completed foreclosure by the primary financing lender or by a lender to whom the City has subordinated this Agreement,or their successors or assigns, or in the event of a delivery by the Grantor of a deed for the Project to the primary financing lender in lieu of foreclosure,or to a lender to whom the City has subordinated this Agreement,or their successors or assigns. SECTION 6. TERMINATION. If the Grantor defaults in the performance or observance of any covenant,agreement,or obligation set forth in this Agreement,the City may terminate this Agreement,without further liability, upon 30 days' notice to the Grantor and reasonable opportunity for the Grantor to cure such default. Notwithstanding termination, City may pursue any remedy provided for in Section 7. The City may terminate this Agreement immediately and without notice and opportunity to cure if the City loses the authority to grant the exemption,is determined by its counsel or otherwise as lacking the authority to administer the exemption,or fails to receive or loses necessary funding,appropriations,limitations or other expenditure or position authority sufficient to carry out the terms of this Agreement. SDC EXEMPTION FOR REGULATED AFFORDABLE HOUSING AGREEMENT TERRACE GLEN DoruSign Envelope ID:E82188BB-1311-4B1C-ABEE-4D67A1263CEA SECTION 7. REMEDIES. If the Grantor defaults in the performance or observance of any covenant, agreement,or obligation set forth in this Agreement and if such default remains uncured for a period of 30 days after the notice thereof shall have been given by the City to the Grantor,then the City,at its option,may take any one or more of the following steps: a. Have access to and inspect,examine and make copies of all of the books and records of the Grantor pertaining to the Project; b. Terminate the exemption of the Project or a portion thereof,in which case the SDC's exempted herein shall be immediately due and payable to City in the amounts shown on Exhibit B,along with interest accruing from the Exemption Date. City may,in addition to an action to collect SDC's due,withhold issuance of building or development permits until paid in full; c. Take such other action under this Agreement,at law or in equity as may appear necessary or desirable to the City to enforce the covenants,agreements,warranties,and obligations of the Grantor hereunder. No waiver or delay in enforcing the provisions hereof as to any breach or violation shall impair,damage or waive the right of any person entitled to enforce the same to obtain relief against or recover for the continuation or repetition of such breach or violation or any similar breach or violation thereof at any later time or times. SECTION 8. RECORDING AND FILING. The Grantor shall cause this Agreement and all amendments and supplements hereto to be recorded and filed in the real property records of Washington County and in such other places as the City may reasonably request. The Grantor shall pay all fees and charges incurred in connection with any recording.The Grantor shall provide either the original recorded document or a certified copy of the recorded document within ten days of the date of this Agreement. SECTION 9. GOVERNING LAW;VENUE. This Agreement shall be governed by the laws of the State of Oregon. The courts of the State of Oregon,or to the degree necessary,the U.S.District Court for the District of Oregon shall have exclusive jurisdiction over any action brought by or against the City under this Agreement. The Grantor hereby consents to such exclusive jurisdiction and waives any and all objections it might have thereto. SECTION 10. AUTHORITY. Grantor hereby represents,warrants and certifies that a. It possesses legal authority to apply for and accept the terms and conditions of the exemption and to carry out the proposed Project; b. Its governing body,if any,has duly authorized the filing of the application,including all understandings and assurances contained therein; c. The person identified as the official representative of the Grantor in the application is duly authorized to act in connection therewith and to provide such additional information as may be required. The Grantor's official representative has sufficient authority to make all certifications on its behalf; d. This Agreement does not and will not violate any provision of any applicable law,rule,regulation or order of any court,regulatory commission,board or administrative agency applicable to the Grantor or any provision of the Grantor's organic laws or documents; e. This Agreement has been duly executed by an official representative of Grantor,delivered by Grantor, and will constitute the legal,valid and binding obligations of the Grantor, enforceable in accordance with their terms. SDC EXEMPTION FOR REGULATED AFFORDABLE.HOUSING AGREEMENT TERRACE GLEN DocuSign Envelope ID:E82188BB-1311-4B1C-ABEE-4D67A1263CEA SECTION 11. INDEPENDENT CONTRACTOR. Grantor acknowledges and agrees that it is acting in its own independent capacity under this Agreement and not as an agent or subcontractor for the City. Grantor assumes full responsibility for its own actions and shall provide for its own insurance and other compliance responsibilities,including providing for its own workers'compensation and other insurance coverage,as needed. SECTION 12. AMENDMENTS. This Agreement may be amended only by a written instrument executed by the parties hereto or by their successors and duly recorded in the real property records of Washington County. SECTION 13. SEVERABILITY. If any provision of this Agreement shall be invalid, illegal or unenforceable,the validity,legality and enforceability of the remaining portions hereof shall not in any way be affected or impaired thereby. SECTION 14. CONSTRUCTION. The parties to this Agreement acknowledge that each party and its counsel have participated in the drafting and revision of this Agreement.Accordingly,the parties agree that any rule of construction to the effect that ambiguities are to be resolved against the drafting party shall not apply in the interpretation of this Agreement or any amendment,modification,supplement or restatement of the foregoing or of any exhibit to this Agreement. SECTION 15. NO LIMITATIONS ON ACTIONS OF CITY IN EXERCISE OF ITS GOVERNMENTAL POWERS. Nothing in this Agreement is intended,nor shall it be construed, to in any way limit the actions of the City in the exercise of its governmental powers.It is the express intention of the parties hereto that the City shall retain the full right and ability to exercise its governmental powers with respect to the Grantor,the Project,the land,and the transactions contemplated by this Agreement to the same extent as if it were not a party to this Agreement or the transactions contemplated thereby, and in no event shall the City have any liability in contract arising under this Agreement by virtue of any exercise of its governmental powers. SECTION 16. TIME IS OF THE ESSENCE. Time is of the essence in the performance of the obligations of this Agreement. SECTION 17. NOTICES. Any notice required to be given hereunder shall be made in writing and shall be given by personal delivery or first class mail,postage prepaid, at the addresses specified below,or at such other addresses as may be specified in writing by the City or the Grantor: To the City: City of Tigard Finance and Information Services 13125 SW Hall Blvd. Tigard,OR 97223 Attn: SDC Administrator To the Grantor: Terrace Glen Housing Partners Limited Partnership c/o Related/Terrace Glen Development Co.,LLC 18201 Von Karman Avenue,Suite 900 Irvine,CA 92612 [Signature Page to Follow] SDC EXEMPTION FOR REGULATED AFFORDABLE HOUSING AGREEMENT TERRACE GI.I.N DoauSign Envelope ID:E82188BB-1311-4B1C-ABEE-4D67A1263CEA IN WITNESS WHEREOF,the parties have caused this Agreement to be executed by their duly authorized representatives as of the day and year first above written. CITY: CITY OF TI uaaan®rcgon municipal corporation SftAkt. ietritt r By: ::,n4rorsos aica.. Steve Rymer,City Manager GRANTOR: TERRACE GLEN HOUSING PARTNERS LIMITED PARTNERSHIP, an Oregon Limited partnership By: Related/Terrace Glen Development Co.,LLC a California limite liability company, its A tra ' General Partner Signature Name,Title: Ann Silverberg,President By: HAWC Terrace Glen LLC an Oregon limited liability company, its Managing General Partner By: Executive Director,Housing Authority of Washington County, its Manager J • K. (C' - Signature Name,Title: Komi P. Kalevor,Executive Director STA 11,OF OREGON ) ) ss: COUNTY OF ) The foregoing instrument was acknowledged before me this 1414 day of +-/QCembaC , 202-1 , by the Executive Director of the Housing Authority of Washington County,Komi P.Kalevor, the manager of HAWC Terrace Glenn LLC,on behalf of the Grantor. �� OFFICIAL STAMP '. , `�.Vt: ram JACOB ROSALES grits".' ' NOTARY PUBLIC-OREGON N• Public for the State of COMMISSION NO.998506 MY COMMISSION EXPIRES MARCH 25,2024 My commission expires: '3/25/2y . J SDC EXEMPTION FOR REGULATED AFFORDABLE HOUSING AGREEMENT TERRACE GLEN t. CALIFORNIA ACKNOWLEDGMENT CIVIL CODE § 1189 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document. State of California County of f ''(l f`tr fs.Y1 t,t jC v On Ge..'rn`y � \) `+'(:irk\ 7 ©c\ck._ E\co ne vitGv "`} 1, { p; before me, { �� ..�v / N)-� Date Here Insert Name and Title of the Officer personally appeared H u101 : ,'`#--t if Name(s)of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s),or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the ..$: \BROOKE ELAINE HARUKO HIURA laws of the State of California that the foregoing NotaryNbiic California paragraph is true and correct San Francisco County *� Commission A 2359054 WITNESS my hand and official seal. My Comm.Expires May 26,2025 ' r;l j 4,„,,,,,,„aSignature ..,�'—v Place Notary Sea/and/or Stamp Above Signature of Notary Public OPTIONAL Completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. 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: ❑ Corporate Officer— Title(s): ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited 0 General ❑ Partner— 0 Limited ❑ General Individual ❑ Attorney in Fact ❑ Individual 0 Attorney in Fact ❑ Trustee 0 Guardian or Conservator ❑ Trustee D Guardian or Conservator ❑ Other: ❑ Other: --- Signer is Representing: Signer is Representing: <.;2O1g National Notary Association DecoSign Envelope ID:E82188BB-1311-4B1C-ABEE-4D67A1263CEA EXHIBIT A LEGAL DESCRIPTION OF THE PROJECT All that certain Real Property situated in the County of Washington,State of Oregon,described as follows: PARCEL A: The following described real property being a portion of Lot 5 of Block I of LEHMANN ACRE TRACTS,situated in Section 26, Township 1 South, Range 1 West, of the Willamette Meridian, in the County of Washington and State of Oregon,to-wit: Beginning at an iron pipe,said iron pipe marking the Southeast corner of Lot 5,of Block I of LEHMANN ACRE TRACTS;and running thence North 89°53'West 557.50 feet along the Southerly boundary line of said Lot 5,to an iron rod marking the Southwest corner of said Lot 5; thence North 14°46' East 415.32 feet along the Northwesterly boundary line of said Lot 5 to an iron pipe; thence South 44°00'Fast 281.25 feet to an iron pipe; thence North 89°57'East 256.84 feet to an iron pipe set in the Easterly boundary line of said Lot 5;thence South 00°09'30" West 200.65 feet along said Easterly boundary line to the point of beginning of this description. EXCEPT that portion of said Lot 5 conveyed to the City of Tigard, as disclosed by Dedication Deed recorded August 18, 1988 as Recording No. 88-36677. PARCEL B: TOGETHER WITH Sewer and Storm Drain Easement, as described in the SEWER AND STORM DRAIN EASEMENT AGREEMENT, by and between Teresa Frances Gipson, as trustee under the Gipson Family Trust dated March 7,2019,and Terrance Glen Housing Partners Limited Partnership,recorded November 23,2021,as document no. 2021-122103. PARCEL C: TOGETHER WITH Sewer and Storm Drain Easement, as described in the SEWER AND STORM DRAIN EASEMENT AGREEMENT,by and between Eddie Longoria and Emilya Rochelle Longoria,as Co-Trustees of the Longoria Family Trust u/d/t August 29, 2019 and Terrance Glen Housing Partners Limited Partnership, recorded November 23,2021, as document no.202 1-1 22 1 04. SDC EXEMPTION FOR REGULATED AFFORDABLE HOUSING AGREEMENT I LRRACE GLEN a DocuSgn Envelope ID:E82188BB-1311-4B1C-ABEE-4D67A1263CEA EXHIBIT B SCHEDULE OF SDCs EXEMPTED System Exemption Amount 9650 SW Greenburg—West Building City Transportation Improvement $276,477.64 City Transportation Reimbursement $15,913.62 Parks Improvement $366,687.50 Parks Reimbursement $86,097.80 Parks Neighborhood Improvement $136,737.00 Water NOT ELIGIBLE Sanitary Sewer NOT ELIGIBLE Stormwater NOT ET IGIBLE County Transportation Development Tax NOT ELIGIBLE 9660 SW Greenburg—East Building City Transportation Improvement $227,230.00 City Transportation Reimbursement $13,082.00 Parks Improvement $283,712.00 Parks Reimbursement $66,712.00 Parks Neighborhood Improvement $105,090.00 Water NOT ELIGIBIF Sanitary Sewer NOT ELIGIBJ.F Stormwater NOT ELIGIBLE County Transportation Development Tax NOT ELIGIBLE Total Exemption $1,577,739.56 This SDC exemption is granted to the units located at the property address(es) listed below: Project Name: Terrace Glen in Tigard,Oregon 97223 Street Address No. of Units Building Permit# Address 1: 9650 SW Greenburg Rd 82 BUP2021-00186 Address 2: 9660 SW Greenberg Rd 62 BLl P2021-00188 Sl)C EXEMPTION FOR REGJLAiT1)AFFORDABLE HOIJSING AGREEMENT TERRACE GLEN