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2023-048886 ~ Az) FidelityNational Title �. PORTLAND DEVELOPMENT SERVICES GROUP LETTER OF TRANSMITTAL June 28, 2024 City of Tigard 13125 SW Hall Boulevard Tigard , OR 97223 RE: Please find enclosed:Documents Transmitted from: Luka Jovanovic Real Estate Coordinator Fidelity National Title Company of Oregon 900 SW 5th Avenue,Mezzanine Level Portland,OR 97204 Mobile: 503.796.6635 Luka.jovanovic@fnf.com Washington County,Oregon 2023_048886 D-IRUL Stn=2 S AKINS 11/28/2023 10:51:54 AM tn After Recording Return To: si5.00 Si 1.00$5.00$60.00 $91.00 I,Joe Nelson,Director of Assessment and Taxation and Ex-Officio County Clerk for Washington County,Oregon,do hereby certify that City of Tigard the within instrument of writing was received and recorded in the 13125 SW Hall Boulevard book of records of said county. Tigard, OR 97223 Joe Nelson,Director of Assessment and g Taxation, Ex-Officio County Clerk DECLARATION OF RESTRICTIVE COVENANT FOR ROWHOUSE DEVELOPMENT THIS DECLARATION OF RESTRICTIVE COVENANT FOR ROWHOUSE DEVELOPMENT (this ' "Declaration") is made and entered into by AG EHC II (NWHM) MULTI STATE 2, LLC, a Delaware limited liability company ("Declarant"), and shall be effective upon its recording in the official records of Washington County,Oregon. Recitals CU p m '0 Y A. Declarant owns Lots 3 through 23, and 105 through 133 of RIVER TERRACE TOWN CENTER, ▪ E▪ t in the City of Tigard, Washington County, Oregon, according to the plat thereof recorded in the official G a records of Washington County, Oregon on September 26, 2023 as Document No. 2023-040187 (the "Lots"). eceE � 8 cow () B. As a condition of approving the River Terrace Town Center Planned Development under 92o Land Use Case File No. PDR2021-00004, the City of Tigard, an Oregon municipal corporation (the "City"), 7,5 o H requires the imposition of a restrictive covenant on the Lots prohibiting any type of development other .Q N o than rowhouse development on the Lots. cn ZL U C. Declarant is executing and recording this Declaration to satisfy the condition imposed by N N T g L v c the City. --u.. aa�x Declaration NOW,THEREFORE, Declarant hereby declares as follows: 1. Rowhouse Development. Declarant hereby declares and imposes a restrictive covenant on the Lots prohibiting any development other than rowhouse development on the Lots (the "Restrictive Covenant"). As used herein, the term "rowhouse" has the meaning given to such term in Section 18.30.020.D,14,j of the Tigard Municipal Code and includes any type of attached housing that shares a common sidewall with one or more dwelling units, but excluding apartments, courtyard units, and quads. The Restrictive Covenant is for the benefit of the City and may be enforced by the City. The Restrictive Covenant cannot be removed except through a land division or lot line adjustment process that brings the Lots into conformance with the standards for development of other housing types. The City shall have no rights in the Lots other than to enforce the Restrictive Covenant. The Restrictive Covenant does not prohibit the formation of a condominium on the Lots and the Lots, together with any improvements constructed thereon, may be submitted to the condominium form of ownership pursuant to the Oregon Condominium Act (ORS Chapter 100), or any successor statute, provided that the condominium otherwise constitutes rowhouse development. {01388036;2} 1 After Recording Return To: City of Tigard 13125 SW Hall Boulevard Tigard, OR 97223 DECLARATION OF RESTRICTIVE COVENANT FOR ROWHOUSE DEVELOPMENT THIS DECLARATION OF RESTRICTIVE COVENANT FOR ROWHOUSE DEVELOPMENT (this x-4 "Declaration") is made and entered into by AG EHC II (NWHM) MULTI STATE 2, LLC, a Delaware limited liability company ("Declarant"), and shall be effective upon its recording in the official records of Washington County, Oregon. Recitals Cl) w o J p 2P- -o -4= o A. Declarant owns Lots 3 through 23, and 105 through 133 of RIVER TERRACE TOWN CENTER, tea, EY in the City of Tigard, Washington County, Oregon, according to the plat thereof recorded in the official _= a records of Washington County, Oregon on September 26, 2023 as Document No. 2023-040187 (the "Lots"). c�oE � cv C d B. As a condition of approving the River Terrace Town Center Planned Development under co-4 Land Use Case File No. PDR2021-00004, the City of Tigard, an Oregon municipal corporation (the "City"), requires the imposition of a restrictive covenant on the Lots prohibiting any type of development other eo than rowhouse development on the Lots. .__ '-a C. Declarant is executing and recording this Declaration to satisfy the condition imposed by cA a Elf a the City. Declaration NOW,THEREFORE, Declarant hereby declares as follows: 1. Rowhouse Development. Declarant hereby declares and imposes a restrictive covenant on the Lots prohibiting any development other than rowhouse development on the Lots (the "Restrictive Covenant"). As used herein, the term "rowhouse" has the meaning given to such term in Section 18.30.020.D.14.j of the Tigard Municipal Code and includes any type of attached housing that shares a common sidewall with one or more dwelling units, but excluding apartments, courtyard units, and quads. The Restrictive Covenant is for the benefit of the City and may be enforced by the City. The Restrictive Covenant cannot be removed except through a land division or lot line adjustment process that brings the Lots into conformance with the standards for development of other housing types. The City shall have no rights in the Lots other than to enforce the Restrictive Covenant. The Restrictive Covenant does not prohibit the formation of a condominium on the Lots and the Lots, together with any improvements constructed thereon, may be submitted to the condominium form of ownership pursuant to the Oregon Condominium Act (ORS Chapter 100), or any successor statute, provided that the condominium otherwise constitutes rowhouse development. {01388036;2} 1 2. Remedies. The City may enforce the Restrictive Covenant and shall have all remedies available at law or in equity, including, without limitation, the remedy of specific enforcement, for the breach or threatened breach of the Restrictive Covenant. 3. Amendments. No amendment or modification of this Declaration shall be effective unless it is in writing, signed by the owner of the Lots and the City and recorded in the official records of Washington County, Oregon. 4. Run with the Land. The covenants, rights and restrictions contained in this Declaration shall run with and be binding upon the Lots for the benefit of the City. 5. Waiver. Failure to require performance of any provisions of this Declaration shall not limit the right to enforce such provision in the future, nor shall any waiver of any breach of any provision of this Declaration constitute a waiver of any succeeding breach of such provision or a waiver of the provision itself. 6. Partial Invalidity. If any provision of this Declaration or the application thereof to any person or circumstance shall to any extent be held invalid, then the remainder of this Declaration or the application of such provision to persons or circumstances other than those as to which it is held invalid shall not be affected thereby, and each provision of this Declaration shall be valid and enforced to the fullest extent permitted by law. 7. Authority. The person executing this Declaration on behalf of Declarant expressly represents to the City that he or she has authority to execute this Declaration on behalf of Declarant. (Remainder of Page Intentionally Left Blank; Signature Page Follows) {01388036;2} 2 IN WITNESS WHEREOF, the undersigned has executed this Declaration as of the date set forth below. DECLARANT: AG EHC II (NWHM) MULTI STATE 2, LLC, a Delaware limited liability company By: Essential Housing Asset Management, LLC, an Arizona limited liability company Its: Authorized Agent By: b()atiegkeitte Name: '1e'dy 5-veck“e Title: Av4-4AtilL$ci ?2.epregenkcJw- STATE OF Arizona. ) ) ss. County of �adl(Ap0. ) The foregoing instrument was acknowledged before me on QC k)Lief (1 , 2023, by W enay S�oeckal , as the -$ icect 0L4 isof Essential Housing Asset Management, LLC, an Arizona limited liability company, which is the Authorized Agent of AG EHC II (NWHM) Multi State 2, LLC, a Delaware limited liability company, on behalf of said Delaware limited liability company. Jaime Adams Notary Public I r Maricopa County,Arizona ( J My Comm.Expires 07-01-25 I Nota y Public for Jr 'LGriA \ Commission Na,607030 1 My Commission Expires: a i /uf /2oZ!— CITY OF TIGARD Approved as to form: / i Date: /777/ 2.3 (signature) /D t' c (printed name) '> OFFICIAL TAM ERNE9TINA�S�A4R �n }� NOTARY PUBLIC-®FigGPN 4vS1lit i� 1�� L'' CJ 10` ..... COMMIBRION NO 9�434 MY COMMISSION EXPIRES MAY 11,2024 (title) & .) {01388036;2} 3