HomeMy WebLinkAbout09-Economic Development
DEVELOPMENT DEPARTMENT
OF THE CITY OF SAN BERNARDINO
ECONOMIC DEVELOPMENT AGENCY
REOUEST FOR COMMISSION/COUNCIL ACTION
FROM: KENNETH J. HENDERSON
Executive Director
SUBJECT:
YEOMAN AND ASSOCIATES, INC.
DATE: July 21,1994
SvnoDsis of Previous Commission/Council/Committee Action(s):
On May 24, 1994, the Housing Conunittee recommended (2-1 (Oberhclman)) to the Community Development
Conunission approval of an Owner Participation Agreement (01' A) between the Agcncy and Yeoman and Associatcs,
and authorize otilization of $250,000 in low to moderate income housing funds.
Recommended Motion(s):
(Communih-' DeveloDment Commission)
MOTION A:
That the Community Development Commission takc action to reconsider the development proposal submitted
by Y coman and Associates.
MOTION B:
That the Community Development Commission approvc an Owner Participation Agreement (OPA)
between the Agency and Y coman and Associates, authorize utilization of $250,000 in low to
moderate income housing funds in conjunction with thc development of thirty-six (36) high quality
homes and direct the Chairman and Executive Director to execute any documents necessary to
effectuate this transaction.
--1['>
Administrator
JJJ~I~fAil.Nn
KENNETH J. HERSON
Executh'c Director
Contact Person(s): Kenneth J. Henderson/Robert J. Lemlev
Plionc:
5081
Project Arca(s):
N/A
Ward(s):
One (I )
Supporting Data Attachcd: Staff Reoort. Owner Participation Agreement (OPA)
FUNDING REQUIREMENTS Amount:$ 250.000
Source:
LowfMod
Budget Authority:
Requested
Commission/Council Notes:
Knf:RJL:paw:yeoman.cdc
COMMISSION MEETING AGENDA
MEETING DATE: 08/01l94q
Agenda Item Number:
DEVELOPMENT DEPARTMENT
OF THE ECONOMIC DEVELOPMENT AGENCY
STAFF REPORT
YEOMAN & ASSOCIATES CALIFORNIA
Background
On July 5, 1994, the Community Development Commission considered an unsolicited
development proposal submitted by Yeoman and Associates to effectuate construction of thirty-
six high quality single family detached homes. The Housing Committee had previously voted 2-1
(Oberhelman) to recommend to the Community Development Commission approval of this
project. Following extensive discussion regarding the construction of "new" single family homes
within this community, the Commission denied execution of the Yeoman and Associate's Owner
Participation Agreement (OPA).
As a follow-up to these discussions, staff provided the Commission with information
substantiating the need for construction of additional new single family detached homes. Based
upon that information Councilman Hernandez has specifically requested reconsideration of the
Yeoman and Associates development project Owner Participation Agreement (OPA).
Discussion
On April 6, 1994, the Development Department Housing Division received a request for financial
assistance from Yeoman and Associates, Inc., of Red lands, California to effectuate development
of a proposed thirty-six (36) high quality single-family detached home sub-division.
Yeoman and Associates, Inc., has an extensive background in successful real estate development
throughout the Inland Empire. It was formed in 1970 as a building and civil engineering
company. To date, the company has successfully developed residential sub-divisions,
apartments, commercial buildings, auto service centers, medical buildings, restaurants and
custom homes.
The proposed development is located within Ward 1, one block west of Mountain View Avenue
on Coulston Street (Please see attached site map). The developer has a significant interest in
upgrading the housing stock within this community. Development of this property will also
substantially improve the physical appearance of the adiacent area with much needed
infrastructure in the form of full-width streets, curbs, gutters, sidewalks, and a sewer collection
system that will serve the proposed development along with eighty-six (86) existing residences.
The sub-division consists of thirty-six (36) high quality homes which include the following
models:
-------------------------------------------------------------------------.---------------------------------------------
KJH:RJL:paw:yeoman.cdc
COMMISSION MEETING AGENDA
MEETING DATE: 081OJ/94q
Agenda Item Number:
Development Department Staff Report
Yeoman and Associates, Inc.
July 21, 1994
Page - 2 -
--------------------------------------------------------------------------------------------------------------.---
. Eight (8) three bedrooms/two bathrooms, 1,206 square foot
homes, priced at $112,990
. Fourteen (14) three bedrooms/two bathrooms, 1,460 square foot
homes, priced at $124,990
. Fourteen (14) four bedrooms/two bathrooms, 1,669 square foot
homes, priced at $129,990.
The proposed sub-division will establish a new standard in the area for quality and pride of
ownership with a variety of quality amenities as follows:
. Tile Roofs
. Vaulted Ceilings
. Ceramic Tile Counter Tops
. Oak Cabinets
. Skylights
. Side and Rear Yard Fencing
. Front yard landscaping with automatic irrigation. The exterior elevations, interior
amenities and overall appearance will establish this project as a standard for future
development of the "Eastern Entrance" to the City.
Yeoman and Associates is requesting $250,000 in Agency assistance to effectuate development of
this thirty-six (36) home residential tract sub-division. This assistance would be utilized to finance
required off-site street improvements (including curb, gutter and sidewalk) involving Coulston,
Curtis, Elm and Rosena Avenue. When completed, these streets will be fully improved, thereby
allowing vehicular traffic for the adjacent neighborhood between Coulston Street and Davidson.
Funding for this project was previously authorized as part of the adopted FY 1994-95 Housing
Division budget. It is important to note that this project will generate substantial monies directly to
the City of San Bernardino, including development fees in excess of$290,000, excluding school
impaction fees. When the project is completed and occupied, it will then generate approximately
$68,000 annually in property tax revenues to the City. Finally, the developer's installation of the
required sewer line potentially serving eighty-six (86) additional residences will entitle the City to
sewer capacity fees estimated in excess of $320,000.
KJI1R.JL:paw:yeoman.cdc
COMMISSION MEETING AGENDA
MEETING DATE: 08/01/94
Agenda Item Number: -9-
Development Department Staff Report
Yeoman and Associates, Inc.
July 21, 1994
Page - 3 -
Market Profiles, a professional residential market feasibility consulting firm, has analyzed the
proposed development and has determined that this project would be extremely competitive and
would generate an above average absorption rate. In addition, E. H. Wood and Associates has
thoroughly analyzed the developer's proforma and financial capacity and has determined that
Yeoman and Associates has the financial capability and banking relationships necessary to obtain
construction financing on this project. Evidence of a recorded construction loan will however. be
required prior to distribution of any Agency funds in coniunction with this proiect.
Recommendation
Based upon the significant heretofore mentioned benefits to the surrounding neighborhood and
community and the amount of Agency assistance being requested, staff recommends adoption of the
form motion.
~~<~
KEN ETH J. H NDERSON, ExecutIve DIrector
Development Department
-----------------------------------------------------------------------------------------------------------------------
KJH:RJL:paw:yeoman.cdc
COMMISSION MEETING AGENDA
MEETING DATE: 08/01l9~
Agenda Item Number: -,
I
I
I
I
I
I
J
_____J
J
I
I
I
J
I
I
I
------l
-----...J
r-"'1..._-_...r-1 I
I : I
'-________..1 I
I
-----,
I
.---1 I
: ~ I
: : I
: : I
: 1 I
: : 1
I I J
I ~
L___J I
I
r---1 I
: ~ I
I : J
: : J
: : I
1
-
I
i
i_
I
,
I
I
I
,
r ,..
I
I
I
I I
1 I rl
I ! .,. 51#' J1~' Jrs I" "s ,,#' ''''' llIL$" r---ll-..J
I~ll I... .... - ... too 1 I
1 I" ... .. l t; ... '" I;l l:l is '-----'
'L. i=-', ~'~ ~~ ~;:~ ~,I&-'"r;:Jli;::J
,.. - - -- ~~ ~. - - . ~~.~_1".::'
: Ii~ ,~- ~ 3 ~~ ,~~~~ S ~ -~LJL
I. i ~ ~ l ~ l f;l Ii ~ . ~ ~ ~ i L?, L___JI L_J
il ~ '" '" '" '" '" '" .. ~...
I
1
I
I
I
r- _________~A~
I
I
I
I
:., II II I I I I I I I
L_"I I J ~==~, lei I r--l I I I J
I J .___, I: rJ I L~ : I J I I
I J I 'I'--J I L~ I I I I
I r---1 I L__J I I. J I I I I
IL__J I I ",I I J I J I
.t,- J... 1. .L J~ j' ~'--L -! ...J L L
'.f-------------...l- - _"!)IIA""'!!_________
~tt~ '~'L~ ~-~ ~ t
... ij N U ~ ... ~ (JI ij c.' ~ ..... ~ Ot ~ .Q ~
L!l ~ ~ ~ l ~ ~ l ~ l ~ ~ t:~
~~ ~~ i~ ~4~~.; ~_ .~~
. .,.,.. ,.." . ,,. In'" "" :; ~ .. Jr
_1._
I
I
r----J r-
l I:
'--"l_J L_
---.,
I
I
r--.1
J
1.
-
-- -
r'
{~r
T
I
I r-------:
Ii :
L..______~
T
J
r--l I
: i I
I 'I
I ,
L__J
r-,
r--J I
I I
I I
L____J
I! !I~I ~~~y~A
II %:mr~
In~- m- I 0
----
--~.
18
/Irf-:C' - ~~
~i::j ,;:'ni'in-'I,.!ir.1
-.. I': Iii. l" rI .
;' '~, l~:LY~_[ .
/
1C
~
Ii LJ
BEDROOM 2 I BEDROOM:3
l
I
[:I-d \JIB 81
MA5TER 5UTE
GARAGE
PLAN 1
1206 SQ FT
MONTE VISTA
KITCHEN
f AMa:r
r
,-.., I
L--J- g.g _.J
DINING
uvtlG
ENTRY
I ,
PORCH
.1
I
1-
T' YEOMAN
ID ~~~1~1~7~
~
'0444 CORPORATE DRIVE. STE F
2A
"'.--r
-...,.
28
"
.,.v
I 'I~~
!-'I......
q
MONTE VISTA
u 0 NOOl( r"'T.
I I
LJ
MA.~TtIlt 1
HA&TER &UTE DA'" fAMLl' KITCHEN L
OI'ri1
, U
i! I '-ATI1
flEDROOM 2
PLAN 2
L..."
~
I
I
DfN/ :
flEDROOM :3 I
I
1
I ENTRY
c
I
B8
PORCH
GARAGE
1460 SQ FT
DINING
LMNG
I 'i
, I
I,
%
YEOMAN
~~~I~~~ /)
1004+4 CORPORATE DRIVE. ;;r..
~Ep~_O_S.: ~~O"'NIA 92374
"......
,~i..~tiii. ..
.~;I~'3A
. .."o{~:
3C
II
MONTE VISTA
MA&TER &UTE
, II
.., Ii I ! II '
BWROOM 2
BEDROOM 3
It
DfIV
BWROOM -4
M
fA/1lL'l'
HOOll
~'i TO ~!..OW
KITCHEN
,
o
I
~r5&.'n'll
! ~K
CJ
I .;~
!LJ~
Lt..J i
)
/
/
--~----...,------
~
\j
fl!TRY
!
(;ARAGE
RRST R.OOA
PLAN 3
1669 !:n n
Ii;
, ,
UWlG
DINING
T, YEOMAN n
Ifj, :=:::~:NE,1: .
13"'....' A.......... ......___.... _
RECORDING REQUESTED BY:
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO
AND WHEN RECORDED RETURN TO:
SABO & GREEN,
a Professional Corporation
Suite 2039
23801 Calabasas Road
Calabasas, California 91302
(Space Above for Recorder's Use)
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO
OWNER PARTICIPATION AGREEMENT
(Yeoman Associates)
By and Between
REDEVELOPMENT AGENCY OF
THE CITY OF SAN BERNARDINO
and
YEOMAN ASSOCIATES
a sole proprietor
~
1.
A.
B.
C.
D.
II. [200]
A.
B.
C.
III. [300]
A.
B.
C.
D.
E.
F.
G.
H.
1.
J.
K.
[100]
[101]
[102]
[103]
[104]
1.
2.
3.
4.
[201]
[202]
[203]
[301]
[302]
[303]
[304]
[305]
[306]
[307]
[308]
[309]
[310]
[311]
1.
2 .
3.
4.
5.
TABLE OF CONTENTS
SUBJECT OF AGREEMENT
Purpose of Agreement
The Redevelopment Plan
The Site .. ....
Parties to the Agreement
[105] The Agency. ...
[106] The Participant
[107] Prohibition Against Change in
Ownership, Management and
Control of the Participant
[108] Benefit to Project Area
AGENCY ASSISTANCE
Project . .. . ..
Financing Assistance . . . .
Affordable Housing Covenants
IMPROVEMENT OF THE SITE
Scope of Development
Cost of Construction
Construction Schedule
Bodily Injury and
Property Damage Insurance
City and Other Governmental
Agency Permits .. .
Rights of Access . .. .
Local, State and Federal Laws
Antidiscrimination During
Construction .. .
Taxes, Assessments, Encumbrances
and Liens . ...
Prohibition Against Transfer of
the Site, the Buildings or
Structures Thereon and Assignment
of Agreement ... .
Mortgage, Deed of Trust, Sale
and Lease-Back Financing;
Rights of Holders . .. ..... .
[312] No Encumbrances Except Mortgages,
Deeds of Trust or Sale
and Lease-Back for Development
Holder Not Obligated to
Construct Improvements ..
Notice of Default to Mortgagee
or Deed of Trust Holders;
Right to Cure. ..
Failure of Holder to
Complete Improvements
Right of Agency to Cure Mortgage
or Deed of Trust Default .
[313]
[314]
[315]
[316]
(i)
Paqe
1
2
2
2
3
3
4
5
5
6
9
10
10
10
11
12
13
14
14
14
15
15
15
16
16
17
19
h
IV. [400]
A.
B.
C.
V.
A.
B.
C.
D.
VI. [600]
A.
B.
C.
D.
E.
VII. [700]
A.
B.
VIII. [800]
IX.
A.
[500]
[900]
[401]
[402]
[403]
[501]
[502]
[503]
[504]
[601]
[602]
1.
2.
3.
[606]
[607]
[608]
1.
[701]
[702]
[901]
USES OF SITE; AFFORDABILITY COVENANTS
Uses - Covenants Running With the
Maintenance of the Site . . . . .
Effect of Violation of the Terms
and provisions of this Owner
Participation Agreement After
Completion of Construction
Land
19
22
23
GENERAL PROVISIONS
Notices, Demands and Communication
Between the Parties . .. ....
Conflicts of Interest; Nonliability
Enforced Delay; Extension of
Times of Performance ...
Inspection of Books and Records
24
25
25
26
DEFAULTS AND REMEDIES
Defaults - - General . . . .
Legal Actions .. ...
[603] Institution of Legal Actions
[604] Applicable Law .....
[605] Acceptance of Service of Process
Rights and Remedies are Cumulative
Inaction Not a Waiver of Default
Remedies
[609] Damages..........
27
28
28
28
28
29
29
29
29
SPECIAL PROVISIONS
Submission of Documents to
Agency for Approval .
Successors in Interest
30
30
ENTIRE AGREEMENT, WAIVERS
31
TIME FOR ACCEPTANCE OF AGREEMENT BY AGENCY
Time for Acceptance
32
ATTACHMENT NO. 1 - LEGAL DESCRIPTION
ATTACHMENT NO.2 - HEALTH & SAFETY CODE SECTION 50052.5
ATTACHMENT NO. 3 - SCOPE OF DEVELOPMENT
ATTACHMENT NO. 4 - AFFORDABILITY CRITERIA VERIFICATION WORKSHEET
ATTACHMENT NO. 5 - MORTGAGE ASSISTANCE PROGRAM
FINAL APPLICANT REPORT
ATTACHMENT NO. 6 - SCHEDULE OF PERFORMANCE
(ii)
~
SBE00001/YEOMAN OPA
06/16/94 10: 00
OWNER PARTICIPATION AGREEMENT
THIS OWNER PARTICIPATION AGREEMENT is entered into this
day of June, 1994, by and between the REDEVELOPMENT AGENCY OF
THE CITY OF SAN BERNARDINO (the "Agency") and YEOMAN ASSOCIATES, a
sole proprietor (the "Participant"). Agency and Participant hereby
agree as follows:
1.
[100]
SUBJECT OF AGREEMENT
A.
[101]
Purpose of Aqreement
The purpose of this Owner Participation Agreement is to
effectuate the goals of the Agency with respect to the provision of
low- and moderate-income housing throughout the City of San
Bernardino (the "City").
In order to implement such goals, the
Agency intends to provide assistance to Participant for the
improvement of the Site, as hereinafter defined, which is locateg
in proximity to and will benefit, among others, the Southeast
Industrial Park Redevelopment Project Area and the Tri-City
Redevelopment Project Area (collectively hereinafter referred to as
the "Project Areas"). The completion of the improvements on the
Site pursuant to this Owner Participation Agreement is in the viial
and best interests of the City, and the health, safety and welfare
of its residents, and in accord with the public purposes and
provisions of applicable state and local laws including the
California Community Redevelopment Law. The Community Development
Q
Commission, acting on behalf of the Agency, has determined that the
uses contemplated by this Owner Participation Agreement will
benefit the low- and moderate-income housing needs of the City and
the Project Areas, and has authorized the use of funds from the
Agency's Low- and Moderate-Income Housing Fund.
B. [102] The Redevelopment Plan
The Redevelopment Plan for the Southeast Industrial Park
Redevelopment Project was approved by Ordinance No. MC 565 of the
Common Council of the City of San Bernardino and the Redevelopment
Plan for the Tri-City Redevelopment Project was approved by
Ordinance No. MC _ of the City Council of the City of San
Bernardino. Both Redevelopment Plans shall be collectively
hereinafter referred to as the "Redevelopment Plans" and shall be
incorporated herein by reference.
c. [103] The Site
The Site is that certain real property generally located
one block west of Mountain View Avenue on Coulston Street in the
eastern portion of the City of San Bernardino and consists of those
Assessor Parcels as more fully described in the "Legal Description
of the Site," which is attached hereto as Attachment No.1 and is
incorporated herein by this reference.
D. [104] Parties to the Aqreement
1. [105] The Aqencv
The Agency is a public body, corporate and politic,
exercising governmental functions and powers and organized and
- 2 -
IJ
existing under Chapter 2 of the Community Redevelopment Law of the
State of California (Health and Safety Code Section 33020, et sea.)
The principal office of the Agency is located at 201 North "E"
Street, San Bernardino, California 92401.
"Agency," as used in this Owner Participation Agreement,
includes the Community Development Commission of the City of San
Bernardino, the Economic Development Agency of the City of San
Bernardino, the Redevelopment Agency of the City of San Bernardino,
and any assignee of or successor to their rights, powers and
responsibilities.
2. [106] The Participant
The Participant is a sole proprietor which currently owns
the Site or will have acquired the Site prior to the effective date
of this Agreement. The principal office and mailing address of the
Participant for purposes of this Owner Participation Agreement is
Yeoman Associates, 10444 Corporate Drive, Suite F, Redlands,
California, 92374, Attn: Dwight Yeoman.
The Participant qualifies as an owner participant
pursuant to California Community Redevelopment Law, the
Redevelopment Plan and rules promulgated pursuant thereto
pertaining to owner participation.
- 3 -
/}
3. [107] prohibition Aaainst Chanae in Ownership,
Manaaement and Control of the Participant
The qualifications and identity of the Participant are of
particular concern to the Agency. It is because of those
qualifications and identity that the Agency has entered into this
Owner Participation Agreement with the Participant. No voluntary
or involuntary successor in interest of the Participant shall
acquire any rights or powers under this Owner Participation
Agreement except as expressly set forth herein.
The Participant shall not assign all or any part of this
Owner Participation Agreement or any rights hereunder without the
prior written approval of the Agency, which approval the Agency may
grant, withhold or deny at its discretion. In the event of such
transfer or assignment: (1) the assignee shall expressly assume the
obligations of the Participant pursuant to this Owner Participation
Agreement in writing satisfactory to the Agency; (2) the original
Participant shall remain fully responsible for the performance and
liable for the obligations of the Participant pursuant to this
Owner Participation Agreement; and (3) any guarantees provided to
assure the performance of the Participant's obligations under this
Owner Participation Agreement shall remain in full force and
effect.
In the absence of specific written agreement by the
Agency, no such transfer, assignment or approval by the Agency
shall be deemed to relieve the Participant or any other party from
any obligation under this Owner Participation Agreement.
- 4 - ~
All of the terms, covenants and conditions of this Owner
Participation Agreement shall be binding upon and shall inure to
the benefit of the Participant and the permitted successors and
assigns of the Participant. Whenever the term "Participant" is
used herein, such term shall include any other permitted successors
and assigns as herein provided.
The restrictions of this Section 107 shall terminate and
be of no further force and effect upon completion of all portions
of the Project (as hereinafter defined). Nothing in this
Section 107 shall act to restrict the sale of completed residential
units developed on the Site to qualified purchasers if said sales
are otherwise in compliance with the terms of this Owner
Participation Agreement.
4. [108] Benefit to Proiect Area
Agency has determined that the development of the Site in
accordance with this Owner Participation Agreement will eliminate
blight and provide needed affordable low- and moderate-income
housing to areas in proximity to the Project Areas which is needed
due to the insufficiency of such housing within the Project Areas
and the City generally.
II.
[200]
A.
AGENCY ASSISTANCE
[201] proiect
The Participant shall develop the Site by causing the
construction thereon of thirty-six (36) detached single family
residential units (the "Project"), which shall be reserved for sale
- 5 -
/}
to, and occupancy by, low- and moderate-income households, to be
sold at affordable housing cost as such term is defined in Health
and Safety Code Section 50052.5, a copy of which is attached hereto
as Attachment No. 2 and incorporated herein by this reference. The
Project shall be developed in three (3) phases with Phase I
consisting of three (3) models and nine (9) homes and with Phase II
and Phase III each consisting of twelve (12) homes, all as more
fully described below and in the Scope of Development attached
hereto as Attachment No. 3 and incorporated herein by this
reference. The thirty six (36) units will consist of the following
mix:
Mix
Sauare Feet
Bedrooms
Bathrooms
Price
8
14
14
1,206
1,460
1,669
3
3
4
2
2
2
$112,990
$124,990
$129,990
B.
[202]
Financinq Assistance
In order to assist in the development of the Project, the
Agency shall provide financial assistance in a total amount not to
exceed Two Hundred Fifty Thousand Dollars ($250,000) (the "Agency
Assistance") .
Funds representing the Agency Assistance will be
deposited into an account with the Project construction loan bank
.
or such other bank or lending institution as the Agency may deem
appropriate in its sole discretion.
Said bank or lending
institution shall make disbursements upon receipt by such bank or
lending institution, of appropriate documentation, as determined by
the Agency, evidencing expenditures in connection with the
construction of those certain off-site public improvements as
- 6 -
&J
described in Attachment No. 4 attached hereto and incorporated
herein by this reference the timing of such disbursements shall be
in accordance with the following schedule:
(1) The Participant shall be entitled to draw down up to
Eighty Four Thousand Dollars ($84,000) of the Agency Assistance
upon the completion of Phase I homes as evidenced by:
(a) the
construction
lender's
written
acknowledgement of the completion of the Phase
I construction.
(2) The Participant shall be entitled to draw down an
additional Eighty Four Thousand Dollars ($84,000) of the Agency
Assistance in connection with construction of Phase II homes as
evidenced by:
(a) the receipt into escrow of a deposit for
purchase of all nine (9) Phase I homes;
(b) the approval of home purchase financing in
connection with all nine (9) Phase I homes;
and
(c) the
construction
lender's
written
acknowledgement of the completion of the Phase
II construction.
(3) The Participant shall be entitled to draw down the
.
remaining Eighty Two Thousand Dollars ($82,000) of the Agency
Assistance plus any accrued interest upon the completion of Phase
III homes as evidenced by:
- 7 -
11
(a) the receipt into escrow of a deposit for
purchase of all twelve (12) Phase II homes;
(b) the approval of home purchase financing in
connection with all twelve (12) phase II
homes; and
(c) the construction
lender's
written
acknowledgement of the completion of the Phase
III construction.
No funds representing the Agency Assistance shall be
deposited with the bank or lending institution or disbursed prior
to the recordation of a construction loan for the Project in the
amount of approximately $3,200,000.
As consideration for the Agency Assistance, the
Participant agrees that it shall cause nine (9) residential units
to be reserved for acquisition and occupancy by low- and moderate-
income households. The residential units which are to be reserved
for sale at affordable cost to low- and moderate-income households
in accordance with this Agreement shall hereinafter be referred to
as the "Affordable Units". At least three (3) units in each Phase
shall be reserved as Affordable Units provided, however, that in
the event the Participant reserves more than three (3) units i; a
prior Phase its obligation with respect to the reservation of
Affordable Units in subsequent phases shall be adjusted
accordingly.
- 8 -
11
Subject to the provisions of Section 503 hereof and to
any other written extensions as may be granted by the Executive
Director in his or her sole discretion, if any moneys representing
the Agency Assistance have not been used or encumbered in
connection with the construction of the public off-site
improvements described on Attachment No. 4 on or after November 15,
1996, such moneys shall be returned to the Agency for redeposit
into the Agency's Low and Moderate Income Housing Fund and the
Agency will have no further obligation to provide any additional
assistance to the Participant.
C.
[203]
Affordable Housinq Covenants
In consideration for the provision of the Agency
Assistance, the Participant shall make the Affordable Units
available to households who are of low- and moderate-income as
defined in Health & Safety Code Section 50093, as amended from time
to time, and who seek to purchase residences to be constructed on
the Site at affordable housing cost as defined in Health and Safety
Code Section 50052.5, as may be amended from time to time, as
attached hereto as Attachment No.2. The Agency shall provide to
the Participant the parameters of such ownership, including income
limits adjusted for family size and the affordable housing cost
.
eligibility criteria that shall apply to purchase of each
residential unit.
The Participant agrees to be bound by all
limitations to be established by the Agency and/or any Conditions
and Covenants and Restrictions as may be imposed by the Agency
applicable to the Affordable Units, as to both income limits and
affordability criteria for the residences on the Site and shall
- 9 -
~
provide the Agency with all relevant information, as may be
requested from time to time by the Agency, to ensure compliance
with this Section.
The Participant shall be responsible for ensuring that
all documents required of such low- and moderate-income households
are executed and forwarded to the Agency, including, but not
limited to, the Affordability Criteria Verification Worksheet and
Mortgage Assistance Program Final Applicant Report attached to this
Agreement as Attachments No. 5 and 6, respectively.
III.
[300]
A.
IMPROVEMENT OF THE SITE
[301] Scope of Development
The Site shall be developed by Participant as more fully
provided in the "Scope of Development," which is attached hereto as
Attachment No. 3 and incorporated herein by this reference.
B.
[302]
Cost of Construction
The cost of constructing the Project shall be borne
solely by Participant. The Agency shall have no obligations, other
than as expressly set forth herein, with respect to the funding of
the Project.
C.
[303]
Construction Schedule
Upon execution of this Owner Participation Agreement,
Participant will promptly begin and diligently prosecute to
completion the construction of the proj ect. Participant shall
begin and complete all construction and development of the Project
- 10 -
I:J
within the times specified in the "Schedule of Performance" which
is attached hereto as Attachment No. 7 and incorporated herein.
Participant shall strictly conform to all time requirements and
limitations set forth in this Owner Participation Agreement. Any
non-conformance shall be governed under Section VI, "DEFAULTS AND
REMEDIES."
D. [304] Bodily Iniurv and Property Damaqe Insurance
Participant shall defend, assume all responsibility for
and hold the Agency, the City and their respective officers, agents
and employees, harmless from all claims or suits for, and damages
to, property and injuries to persons, including accidental death
(including attorneys' fees and costs), which may be caused by any
of Participant's activities under this Owner Participation
Agreement, whether such activities or performance thereof be by the
Participant or anyone directly or indirectly employed or contracted
with by Participant and whether such damage shall accrue or be
discovered before or after termination of this Owner Participation
Agreement. Participant shall take out and maintain a comprehensive
liability and property damage policy in the amount of One Million
Dollars ($1,000,000) combined single limit policy, including
contractual public liability, as shall protect Participant, City
and Agency from claims for such damages until two (2) years after
the completion of the Project.
Participant shall furnish a certificate of insurance from
an insurance carrier rated by A. M. Best as "An or better,
countersigned by an authorized agent of the insurance carrier on a
- 11 -
tJ
form of the insurance carrier setting forth the general provisions
of the insurance coverage. This countersigned certificate shall
name the City and Agency and their respective officers, agents, and
employees as additional insureds under the policy. The certificate
by the insurance carrier shall contain a statement of obligation on
the part of the carrier to notify City and the Agency of any
material change, cancellation or termination of the coverage at
least thirty (30) days in advance of the effective date of any such
material change, cancellation or termination. Coverage provided
hereunder by Participant shall be primary insurance and not
contributing with any insurance maintained by Agency or City, and
the policy shall contain such an endorsement. The insurance policy
or the certificate of insurance shall contain a waiver of
subrogation for the benefit of the City and Agency.
Participant shall furnish or cause to be furnished to
Agency evidence satisfactory to Agency that any contractor and/or
subcontractor with whom it has contracted for the performance of
work on the Site or otherwise pursuant to this Owner Participation
Agreement carries workers' compensation insurance as required by
law.
E. [305] Citv and Other Governmental Aqency Permits
Before funding of the Agency Assistance or any portion
thereof and/or commencement of the Project or other construction or
development of any buildings, structures or other works of
improvement upon the Site, Participant shall, at its own expense,
secure or cause to be secured any and all permits for all necessary
- 12 -
b
off-site improvements which may be required by the City or any
other governmental
agency having
jurisdiction
over
such
construction, development or work.
Nothing contained in this Owner Participation Agreement
shall be deemed to be an approval by the City of any application or
permit required to be obtained by Participant from the City.
F.
[306]
Riqhts of Access
For the purpose of assuring compliance with this Owner
Participation Agreement, representatives of Agency and the City
shall have the right of access to the Site, without charges or
fees, at normal construction hours during the period of work for
the purposes of this Owner Participation Agreement, including, but
not limited to, the inspection of the work being performed in
constructing the improvements, so long as they comply with all
safety rules. Such representatives of Agency or of the City shall
be those who are so identified in writing by the Executive Director
of Agency.
Agency shall hold the Participant harmless from any
bodily injury or related damages arising out of the activities of
Agency and the City as referred to in this Section 306 and
resulting from the gross negligence or willful misconduct of the
.
City or Agency. This Section 306 shall not be deemed to diminish
or limit any rights which the City or Agency may have by operation
of law irrespective of this Agreement.
- 13 -
IJ
G. [307] Local. State and Federal Laws
Participant shall carry out the construction of the
Project and all related activities on the Site in conformity with
all applicable laws, including all applicable federal and state
labor standards; provided, however, Participant and its
contractors, successors, assigns, transferees, and lessees are not
waiving their rights to contest any such laws, rules or standards.
H. [308] Antidiscrimination Durinq Construction
Participant, for itself and successors and assigns,
agrees that in the construction of the improvements provided for in
this Owner Participation Agreement, Participant shall not
discriminate against any employee or applicant for employment
because of race, color, creed, religion, age, sex, marital status,
handicap, national origin or ancestry.
I. [309] Taxes. Assessments. Encumbrances and Liens
Prior to the issuance of a Certificate of Occupancy for
the last residential unit developed on the Site, Participant shall
not place or allow to be placed on the Site or any part thereof any
mortgage, trust deed, encumbrance or lien other than as expressly
approved by the Agency
- 14 -
IJ
J. [310] prohibition Aqainst Transfer of the Site. the
Buildinqs or Structures Thereon and Assiqnment
of Aqreement
Prior to the issuance of a Certificate of Occupancy for
the last residential unit developed on the Site, Participant shall
not, except as permitted by this Owner Participation Agreement,
without the prior written approval of Agency, make any total or
partial sale, transfer, conveyance, assignment or lease of whole or
any part of the Site or of the buildings or structures on the Site.
This prohibition shall not be deemed to prevent a transfer
expressly permitted pursuant to Section 107 of this Owner
Participation Agreement, or the granting of temporary or permanent
easements or permits to facilitate the development of the Site.
K. [311] Mortqaqe. Deed of Trust. Sale and Lease-Back
Financinq, Riqhts of Holders
1. [312] No Encumbrances Except Mortqaqes. Deeds
of Trust or Sale and Lease-Back for
Development
Mortgages and deeds of trust are to be permitted before
completion of the Project but only for the purposes of securing a
loan of funds to be used in financing the development of the Site
and any other purposes appropriate in connection with the
development under this Owner Participation Agreement. Participant
shall not enter into any other conveyance or lien for financing
without the prior written approval of Agency, which approval Agency
agrees to give if any such conveyance or lien for financing is
given to a bank, savings and loan association, or other similar
- 15 -
~
lending institution and the terms of said financing are reasonably
acceptable to Agency. The form of approval by Agency shall be in
writing which references this Section 312, executed by the
Executive Director of the Agency. In the event that the Agency
fails to accept or reject such lender in writing within fifteen
(15) days after written notice thereof is received by the Agency,
such lender shall be deemed approved.
2.
[313]
Holder
Not
Obliqated
to
Construct
Improvements
The holder of any mortgage or deed of trust authorized by
this Owner Participation Agreement shall not be obligated by the
provisions of this Owner Participation Agreement to construct or
complete the Project or to guarantee such construction or
completion. Nothing in this Owner Participation Agreement shall be
deemed to construe, permit or authorize any such holder to devote
the Site to any uses or to construct any improvements thereon,
other than those uses provided for or authorized by this Owner
Participation Agreement.
Notice of Default to Mortqaqee or Deed of
Trust Holders: Riqht to Cure
With respect to any mortgage or deed of trust granted'by
Participant as provided herein, whenever Agency shall deliver any
notice or demand to Participant with respect to any breach or
default by Participant in completion of the construction of the
Project, Agency shall at the same time deliver to each holder of
record of any mortgage or deed of trust authorized by this Owner
- 16 -
3.
[314]
h
Participation Agreement a copy of such notice or demand. Each such
holder shall (insofar as the rights of Agency are concerned) have
the right, at its option, within thirty (30) days after the receipt
of this notice, to cure or remedy or commence to cure or remedy any
such default and to add the cost thereof to the mortgage debt and
the lien of its mortgage. Nothing contained in this Owner
Participation Agreement shall be deemed to permit or authorize such
holder to undertake or continue the construction or completion of
the proj ect (beyond the extent necessary to conserve or protect the
Project or construction already made) without first having
expressly assumed the Participant's obligations to Agency by
written agreement satisfactory to Agency. The holder, in that
event, must agree to complete, in the manner provided in this Owner
Participation Agreement, the Project to which the lien or title of
such holder relates, and submit evidence satisfactory to Agency
that it has the qualifications and financial responsibility
necessary to perform such obligations.
4.
[315]
Failure
of
Holder
to
Complete
Improvements
In any case where, thirty (30) days after default by the
Participant in completion of construction of Project under this
Owner Participation Agreement, the holder of any mortgage or deed
of trust creating a lien or encumbrance upon the Site or any part
thereof has not exercised the option to construct or if it has
exercised the option and has not proceeded diligently with
construction, Agency may purchase the mortgage or deed of trust by
payment to the holder of the amount of the unpaid mortgage or deed
- 17 -
a
of trust debt, including principal and interest and all other sums
secured by the mortgage or deed of trust. If the ownership of the
Site or any part thereof has vested in the holder, Agency, if it so
desires, shall be entitled to a conveyance from the holder to
Agency upon payment to the holder of an amount equal to the sum of
the following:
a. The unpaid mortgage or deed of trust debt at the
time title became vested in the holder (less all appropriate
credits, including those resulting from collection and application
of rentals and other income received during foreclosure
proceedings) ;
b. All expenses with respect to foreclosure;
c. The net expense, if any (exclusive of
overhead), incurred by the holder as a direct result
subsequent management of the Site or part thereof;
general
of the
d. The costs of any portion of the Project completed by
such holder; and
e. An amount equivalent to the interest that would have
accrued on the aggregate of such amounts had all such amounts
become part of the mortgage or deed of trust debt and such debt had
continued in existence to the date of payment by Agency; less
f.
conducted on
Any income derived by the lender from operations
the Site (the receipt of principal and interest
- 18 -
Q
payments in the ordinary course of business shall not constitute
income for the purposes of this subsection f) .
5. [316] Riqht of Aqency to Cure Mortqaqe or Deed
of Trust Default
In the event of a mortgage or deed of trust default or
breach by Participant prior to the completion of any part thereof
and the holder of any mortgage or deed of trust has not exercised
its option to complete construction, Agency may cure the default.
In such event, Agency shall be entitled to reimbursement from
Participant of all proper costs and expenses incurred by Agency in
curing such default.
IV.
[400]
A.
USES OF SITE; AFFORDABILITY COVENANTS
[401] Uses - Covenants Runninq With the Land
Participant covenants and agrees for itself, its
successors, its assigns, and every successor in interest to the
Site or any part thereof, that, except as otherwise herein
provided, for a period of ten (10) years commencing on the date of
the sale of any of the Affordable Units each of the Affordable
Units will be devoted to and available for sale solely to persons
or families with an income which are low and moderate to very low,
as those terms are defined in Health and Safety Code Sections 50093
(low- and moderate-income) and 50105 (very low income), with sales
costs of each residential unit to be at an affordable housing cost
(as such term is defined in Health and Safety Code
Section 50052.5).
- 19 -
tJ
The foregoing covenant shall run with the land for ten
(10) years commencing on the date that each Affordable Unit is sold
except to the extent the Agency's investment of low- and moderate-
income funds under this Owner Participation Agreement is otherwise
protected.
The Participant further covenants and warrants that
Participant shall develop the public and private improvements on
the Site in accordance with the Scope of Development. Participant
covenants to develop the Site in conformity with all applicable
laws. The covenants of this paragraph shall run with the land.
Participant covenants by and for itself and any
successors in interest that there shall be no discrimination
against or segregation of any person or group of persons on account
of race, color, creed, religion, sex, marital status, age,
handicap, national origin or ancestry in the sale, lease, sublease,
transfer, use, occupancy, tenure or enjoyment of the Site, nor
shall Participant itself or any person claiming under or through it
establish or permit any such practice or practices of
discrimination or segregation with reference to the selection,
location, number, use or occupancy of tenants, lessees, subtenants,
sublessees or vendees of the Site. The foregoing covenants sh~ll
run with the land.
All deeds, leases or contracts pertaining to the Site
shall contain or be subject to substantially the following
nondiscrimination or non-segregation clauses:
- 20 -
/)
1. In deeds: "The grantee herein covenants by and for
himself or herself, his or her heirs, executors, administrators and
assigns, and all persons claiming under or through them, that there
shall be no discrimination against or segregation of, any person or
group of persons on account of race, color, creed, religion, sex,
marital status, age, handicap, national origin or ancestry in the
sale, lease, sublease, transfer, use, occupancy, tenure or
enjoyment of the land herein conveyed, nor shall the grantee
himself or herself or any person claiming under or through him or
her, establish or permit any such practice or practices of
discrimination or segregation with reference to the selection,
location, number, use or occupancy of tenants, lessees, subtenants,
. sublessees or vendees in the land herein conveyed. The foregoing
covenants shall run with the land."
2. In leases: "The lessee herein covenants by and for
himself or herself, his or her heirs, executors, administrators and
assigns, and all persons claiming under or through him or her, that
this lease is made and accepted upon and subject to the following
conditions:
"There shall be no discrimination against or
segregation of any person or group of persons on account of race,
color, creed, religion, sex, marital status, handicap, age,
ancestry or national
origin
in
the
leasing,
,
subleasing,
transferring, use, occupancy, tenure or enj oyment sale, lease,
sublease, transfer, use, occupancy, tenure or enj oyment of the
premises herein leased nor shall the lessee himself or herself, or
any person claiming under or through him or her, establish or
permit any such practices or practices of discrimination or
- 21 -
A
segregation with reference to the selection, location, number, use
or occupancy of tenants, lessees, sublessees, subtenants or vendees
in the premises herein leased."
3. In contracts: "There shall be no discrimination
against or segregation of, any person, or group of persons on
account of race, color, creed, religion, sex, marital status, age,
handicap, ancestry or national origin, in the sale, lease,
sublease, transfer, use, occupancy, tenure or enjoyment of the
premises, nor shall the transferee himself or herself or any person
claiming under or through him or her, establish or permit any such
practice or practices of discrimination or segregation with
reference to the selection, location, number use or occupancy of
tenants, lessees, subtenants, sublessees or vendees of the
premises."
B. [402] Maintenance of the Site
Participant shall, until sale of all of the thirty-six
(36) residential units, maintain any portion of the Project which
remains unsold and all other improvements on the Site and shall
keep the Site free from any accumulation of debris or waste
materials.
Participant further agrees to maintain the Site in a neat
and attractive manner until construction of the improvements
described in this Owner Participation Agreement is complete so as
not to, in the reasonable determination of an appropriate officer
of the City, be a public nuisance or be detrimental to the health,
- 22 -
IJ
safety and welfare of the public and agrees that in the event
Participant fails to do so, Agency may enter upon the Site for the
purposes of performing necessary and desirable maintenance, that
Participant will be responsible for the cost of any such
maintenance undertaken by Agency, which shall be paid within thirty
(30) days after receipt by Participant of written demand therefor.
C.
[403]
Effect
of Violation of the Terms and
provisions
of
this
Owner
Participation
Aqreement After Completion of Construction
The covenants established in this Owner Participation
Agreement shall, without regard to technical classification and
designation, be binding for the benefit and in favor of Agency, its
successors and assigns, as to those covenants which are for its
benefit. The covenants contained in this Owner Participation
Agreement shall remain in effect until the latest termination date
of the Redevelopment plans unless an earlier date is specified.
The covenants against racial discrimination shall remain in
perpetuity.
Agency is deemed the beneficiary of the terms and
provisions of this Owner Participation Agreement and of the
covenants running with the land, for and in its own rights and for
the purposes of protecting the interests of the community and other
parties, public or private, in whose favor and for whose benefit
this Owner Participation Agreement and the covenants running with
the land have been provided. The Agreement and the covenants shall
run in favor of the Agency, without regard to whether Agency has
- 23 -
Jj
been, remains or is an owner of any land or interest therein in the
Site or in the Project Area. Agency shall have the right, if the
Agreement or covenants are breached, to exercise all rights and
remedies, and to maintain any actions or suits at law or in equity
or other proper proceedings to enforce the curing of such breaches
to which it or any other beneficiaries of this Owner Participation
Agreement and covenants may be entitled.
V.
[500]
A.
and communications Between
GENERAL PROVISIONS
[501] Notices. Demands
the Parties
Written notices, demands and communications between
Agency and Participant shall be sufficiently given if delivered by
hand (and a receipt therefor is obtained or is refused to be given)
or dispatched by registered or certified mail, postage prepaid,
return receipt requested, to the principal offices of Agency and
Participant. Such written notices, demands and communications may
be sent in the same manner to such other addresses as such party
may from time to time designate by mail as provided in this
Section 501.
Any written notice, demand or communication shall be
deemed received immediately if delivered by hand and shall be
deemed received on the tenth day from the date it is postmarked if
delivered by registered or certified mail.
- 24 -
11
B.
[502]
Conflicts of Interest; Nonliabilitv
No member, official or employee of Agency or the City
shall have any personal interest, direct or indirect, in this Owner
Participation Agreement. No member, official or employee shall
participate in any decision relating to the Agreement which affects
his personal interests or the interests of any corporation,
partnership or association in which he is directly or indirectly
interested. No member, official or employee of Agency or the City
shall be personally liable to Participant, or any successor in
interest, in the event of any default or breach by Agency or
Participant, or for any amount which may become due to Participant
or its successor or on any obligations under the terms of this
Owner Participation Agreement.
Participant represents and warrants that it has not paid
or given, and shall not payor give, any third party any money or
other consideration for obtaining this Owner Participation
Agreement.
C.
[503]
Enforced
Delav;
Extension of
Times
of
Performance
In addition to specific provisions of this Owner
Participation Agreement, performance by either party hereunder
shall not be deemed to be in default, and all performance and other
dates specified in this Owner Participation Agreement shall be
extended, where delays or defaults are due to: war; insurrections;
floods; earthquakes; fires; casualties; acts of God; acts of the
public enemy; freight embargoes; governmental restrictions or
- 25 -
/J
priority; litigation; unusually severe weather; or acts or failures
to act of the City or any other public or governmental agency or
entity (other than the acts or failures to act of Agency which
shall not excuse performance by Agency) . Notwithstanding anything
to the contrary in this Owner Participation Agreement, an extension
of time for any such cause shall be for the period of the enforced
delay and shall commence to run from the time of the commencement
of the cause, if notice by the party claiming such extension is
sent to the other party within thirty (30) days of the commencement
of the cause. Times of performance under this Owner Participation
Agreement may also be extended in writing by the mutual agreement
of Agency and Participant.
Participant is not entitled pursuant to this Section 503
to an automatic extension of time to perform because of past,
present, or future difficulty in obtaining suitable temporary or
permanent financing for the Site.
Should such financing not be
obtained, it is the sole responsibility of the Participant to
request an extension of time prior to default under the Schedule of
Performance.
D.
[504]
Inspection of Books and Records
,
Agency has the right at all reasonable times to inspect
the books and records of Participant pertaining to the Site as
pertinent to the purposes of this Owner Participation Agreement.
- 26 -
n
VI.
[600]
A.
DEFAULTS AND REMEDIES
[601] Defaults - - General
Any of the following shall be considered an event of
default hereunder:
(a) Failure to construct the Project within the time
schedules as provided in the Schedule of Performance attached
hereto as Attachment No.7.
(b) Failure or delay by any party to perform any other
term or provision of this Owner Participation Agreement.
The injured party shall give written notice of default to
the party in default, specifying the default complained of by the
injured party. The party in default shall immediately commence to
remedy, cure or correct such default within said thirty (30) day
period. However, if in the reasonable opinion of the injured party
said failure cannot be corrected within thirty (30) days after such
notice, the injured party shall not unreasonably withhold its
consent to an extension of time, if such corrective action is
instituted by the defaulting party within said thirty (30) day
period and diligently pursued until such failure is corrected.
Except as required to protect against further damages,
the injured party may not institute proceedings against the party
in default until thirty (30) days after giving such notice.
Failure or delay in giving such notice shall not constitute a
waiver of any default, nor shall it change the time of default.
The Agency, in its discretion, may waive any of its rights
hereunder, however, such waiver shall not be valid unless in
- 27 -
Q
writing and signed by a duly authorized representation of the
Agency. Upon expiration of the thirty (30) day notice period, the
injured party, at its option, may declare all indebtedness and
obligations secured hereby due and payable with or without notice
of acceleration.
B. [602] Leqal Actions
1. [603] Institution of Leqal Actions
In addition to any other rights or remedies hereunder,
Agency or Participant may institute legal action to cure, correct
or remedy any default, to recover damages for any default, or to
obtain any other remedy, including, but not limited to, specific
performance, consistent with the purpose of this Owner
Participation Agreement. Any legal actions initiated pursuant to
this Owner Participation Agreement or otherwise with respect to
this subject matter must be instituted in the Superior Court of the
County of San Bernardino, State of California, or in an appropriate
municipal court in that county.
2. [604] Applicable Law
The laws of the State of California shall govern the
interpretation and enforcement of this Owner Participation
Agreement.
3. [605] Acceptance of Service of Process
In the event that any legal action is commenced by any
party against another party, service of process on such party shall
be made by personal service upon such party or in such other manner
- 28 -
b
as may be provided by law, and shall be valid whether made within
or without the State of California.
C. [606] Riohts and Remedies are Cumulative
Except as otherwise expressly stated in this Owner
Participation Agreement, the rights and remedies of the parties are
cumulative, and the exercise by any party of one or more of such
rights or remedies shall not preclude the exercise by it, at the
same or different times, of any other rights or remedies for the
same default or any other default by any other party.
D.
[607]
Inaction Not a Waiver of Default
Any failures or delays by any party in asserting any of
its right and remedies as to any default shall not operate as a
waiver of any default or of any such rights or remedies, or deprive
any party of its right to institute and maintain any actions or
proceedings which it may deem necessary to protect, assert or
enforce any such rights or remedies.
E. [608] Remedies
1. [609] Damaoes
Prior to the completion of the Project, if either
Participant or Agency defaults with regard to any of the provisions
of this Owner Participation Agreement, the non-defaulting party
shall serve written notice of such default upon the defaulting
party. If the default is not cured or if a cure has not been
commenced and is being diligently pursued to completion by the
defaulting party within thirty (30) days after service of the
- 29 -
tJ
notice of default, the defaulting party shall be liable to the
other for any damages caused by such default, and the non-
defaulting party shall have the right to seek specific performance
and such other remedies as are available in law or equity.
VII.
[700]
A.
SPECIAL PROVISIONS
[701] Submission of Documents to Aqency for Approval
Whenever this Owner Participation Agreement requires
Participant to submit any document to Agency for approval, which
shall be deemed approved if not acted on by Agency within the
specified time, said document shall be accompanied by a letter
stating that it is being submitted and will be deemed approved
unless rejected by Agency within the stated time. If there is not
a time specified herein for such Agency action, Participant may
submit a letter requiring Agency approval or rejection of documents
within thirty (30) days after submission to Agency or such
documents shall be deemed approved.
B.
[702]
Successors in Interest
The terms, covenants, conditions and restrictions of this
Owner Participation Agreement shall extend to and shall be binding
upon and inure to the benefit of the heirs, executors,
administrators, successors and assigns of Participant.
- 30 -
t:J
VIII. [800]
ENTIRE AGREEMENT, WAIVERS
This Owner Participation Agreement is executed in four
(4) duplicate originals, each of which is deemed to be an original.
This Owner Participation Agreement includes Attachments 1 through
7, which together with this Owner Participation Agreement
constitute the entire understanding and agreement of the parties.
No private entity shall be deemed to be a third party
beneficiary with respect to any provisions of this Owner
Participation Agreement.
This Owner Participation Agreement integrates all of the
terms and conditions mentioned herein or incidental hereto, and
supersedes all negotiations or previous agreements among the
parties or their predecessors in interest with respect to all or
any part of the subject matter hereof.
All waivers of the provisions of this Owner Participation
Agreement must be in writing by the appropriate authorities of the
Agency and Participant, and all amendments hereto must be in
writing by the appropriate authorities of Agency and Participant,
except that the Executive Director of Agency may agree to non-
substantive changes hereto with concurrence by Agency Counsel.
Each individual signing below represents and warrants
that he has the authority to execute this Owner Participation
Agreement on behalf of and bind the party he purports to represent.
- 31 -
b
TIME FOR ACCEPTANCE OF AGREEMENT BY AGENCY
[901] Time for Acceptance
This Owner Participation Agreement, when executed by
Participant and delivered to Agency, must be authorized, executed
and delivered by Agency on or before thirty (30) days after signing
and delivery of this Owner Participation Agreement by Participant
or this Owner Participation Agreement shall be void, except to the
extent that Participant shall consent in writing to a further
extension of time for the authorization, execution and delivery of
this Owner Participation Agreement. The date of this Owner
Participation Agreement shall be the date when it shall have been
signed by the Agency as evidenced by the date first above shown.
IX.
[900]
A.
- 32 -
h
IN WITNESS WHEREOF, Agency and Participant have executed
this Owner Participation Agreement by their duly authorized
officers and have caused their corporate seals or articles of
incorporation to be hereunto affixed and attested as of the day
first above shown.
"Agency"
REDEVELOPMENT AGENCY OF THE
CITY OF SAN BERNARDINO
SEAL
By:
Tom Minor
Chairman
APPROVED AS TO FORM AND
LEGAL CONTENT:
By:
Kenneth J. Henderson
Secretary
BY:~
Special Agency Counsel
"Participant"
Name:
SEAL
SBEO\OOOl\YEOMAN OPA
06\16\94 10:00 jrf
- 33 -
IJ
STATE OF CALIFORNIA
COUNTY OF
On before me,
(here insert name and title of the officer), personally appeared
, personally known to me (or 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.
WITNESS my hand and official seal.
Signature
(Seal)
I/J
STATE OF CALIFORNIA
COUNTY OF
On before me,
(here insert name and title of the officer), personally appeared
, personally known to me (or 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.
WITNESS my hand and official seal.
Signature
(Seal)
Jj
STATE OF CALIFORNIA
COUNTY OF SAN BERNARDINO
On June 20, 1994, before me, Debra A. Fields, personally
appeared Dwight Yeoman, personally known to me (or proved to me on
the basis of satisfactory evidence) to be the person whose name is
subscribed to the within instrument and acknowledged to me that he
executed the same in his authorized capacity, and that by his
signature on the instrument the person, or the entity upon behalf
of which the person acted, executed the instrument.
WITNESS my hand and official seal.
Signature!l()&~ () 7~y;-/~
- ,
(Seal)
I ~ ~ ~ ~ - ~ ~~~~~ ~ ~f
~ @ COMM.#9'I6675 5
i .... Notary NlIc - CallfllrnIa !
. LOS ANGElS COUNTY I
MrComm. Elq)Ireo JUl 2. 1997
J....... ~ ... ...... ..... ..... ..... ..... ...... ..... _ ..... ..... ....
In
STATE OF CALIFORNIA
COUNTY OF
On before me,
(here insert name and title of the officer), personally appeared
, personally known to me (or 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.
WITNESS my hand and official seal.
Signature
(Seal)
Ii
ATTACHMENT NO. 1
LEGAL DESCRIPTION OF THE SITE
LEGAL DESCRIPTION:
A portion of Lot 1, Bock 72, Rancho San Bernardino, City
of San Bernardino, County of San Bernardino, State of
California, as per Plat Recorded in Book 7 of Maps, Page
2, Records of said County.
D
ATTACHMENT NO. 2
HEALTH AND SAFETY CODE SECTION 50052.5
IJ
ATTACHMENT NO. 3
SCOPE OF DEVELOPMENT
1.
GENERAL DESCRIPTION
The Site is specifically described in the Legal
Description (Attachment No.1) pursuant to Section 103 of this
Owner Participation Agreement.
II. DEVELOPMENT
Participant shall develop the Site by constructing homes
of varying square footage based upon the following floor plans:
MIX SQ. FT. BEDROOMS BATHROOMS HEIGHT SALES PRICE
8 1,206 3 2 1 story $112,990
14 1,460 3 2 1 story $124,990
14 1,669 4 2 2 story $129,990
Each home shall have full amenities and shall include the
following: tile roofs, vaulted ceilings, tile entries, oak
cabinets, front yard landscaping and automatic sprinklers, side and
rear yard fencing and ceramic tile countertops.
All of the improvements to be provided by the Participant
on the Site constitute the "Project."
The Participant shall commence and complete the Project
by the respective times established therefor in the Schedule of
Performance (Attachment No.7) .
III. DEVELOPMENT STANDARDS
The Project shall be developed in accordance with
applicable City, FHA, VA & UBC building and safety codes.
b
IV.
DEMOLITION AND SOILS
Participant assumes all responsibility for surface and
subsurface conditions at the Site, and the suitability of the Site
for the Project. If the surface and subsurface conditions are not
entirely suitable for such development and use, Participant shall
at its cost take all actions necessary to render the Site entirely
suitable for such development. Participant has undertaken all
investigation of the Site it has deemed necessary and has not
received or relied upon any representations of Agency, the City, or
their respective officers, agents and employees. Participant shall
undertake at its cost all demolition required in connection with
the development of Project.
V.
FRONT ELEVATIONS
The exterior appearance of the homes occupying the Site
shall resemble in appearance the buildings contained in the
Schedules as previously submitted to the Agency.
/;)
ATTACHMENT NO. 4
AFFORDABILITY CRITERIA VERIFICATION WORKSHEET
IJ
ATTACHMENT NO. 5
MORTGAGE ASSISTANCE PROGRAM
FINAL APPLICANT'S REPORT
/J
ATTACHMENT NO. 6
SCHEDULE OF PERFORMANCE
1. Submission of Tentative Tract Prior to July 15, 1994
Map and Grading Plans to the
Planning and Building Services
Department
2. Planning Commission Approval Prior to November 15, 1994
of Tentative Tract Map (5 Months)
3. Approval of Final Map & Prior to February 15, 1995
Improvement Plans (3 Months)
4. Record Final Map & Prior to March 15, 1995
Construction Loan (1 Month)
5. Obtain Grading Permit Prior to March 15, 1995
6. Approval of Building Plans Prior to May 15, 1995
Obtain Building Permits
Begin Construction of Phase I
(2 Months)
7. Completion of Phase I Prior to October 15, 1995
(5 Months)
8. First Occupancy Prior to October 15, 1995
for Phase I
9. Begin Construction Prior to October 15, 1994*
Phase II
10. Completion of Phase II Prior to March 15, 1996*
(5 Months)
11. First Occupancy of Prior to March 15, 1996*
Phase II
12. Begin Construction of Prior to March 15, 1996*
Phase III (5 Months)
13. Completion of Phase III Prior to August 15, 1996*
(5 Months)
14. First Occupancy of Prior to August 15, 1996*
Phase II I
15. Final Occupancy of Prior to November 15, 1996*
Phase III
*Estimated date can vary and is contingent upon sales rate of
prior Phases.
(J