HomeMy WebLinkAboutD-2045 Release of Affordable Housing AgreementRECORDING REQUESTED BY:
FIRST AMERICAN TITLE COMPANY
-EAR UES-T-B$Y--AND
WHEN RECORDED RETURN TO:
City of San Luis Obispo
Attn: City Clerk
990 Palm Street
San Luis Obispo, CA 93401
20170171,94
Tammy Gong
San Luis phis
04/20/2017 08:00 AM°unty ClerRe -k-Reorder
FIRST AMER the request of.
Titles.- ]
ICAN TITLE COMPANY
pages: 3
Taxes • $$0 00
Total: $27.00
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Above space for Recorder's use only
RELEASE OF
AFFORDABLE HOUSING AGREEMENT
This RELEASE OF AFFORDABLE HOUSING AGREEMENT ("Release") is made this
+(, day of April, 2017, by the City of San Luis Obispo, a California municipal corporation
and charter city ("City").
WHEREAS, on April 25, 2005, City and Rockview Close, LLC, ("Developer") entered into an
Affordable Housing Agreement ("Agreement"), which was recorded on June 21, 2005 as
Document No. 2005050519 in the Official Records of San Luis Obispo County; and
WHEREAS, the Agreement required the Developer to deed restrict Lot 1 and Lot 2 of Tract 2502
to comply with the Inclusionary Housing Requirements of the 11 -lot residential parcel subdivision,
located at 3301 Rockview Place ("the Project"); and
WHEREAS, construction on the Project began in 2005 but in 2007, Estate Financial, Inc. the
construction lender for the project, foreclosed on the developer and the project was halted; and
WHEREAS, on October 5, 2010, the City Council authorized the release of the Agreement
(Resolution No. 10244 (2010 Series)) and to allow the new owners of the property to pay an
affordable housing in lieu fee instead or deed restricting the affordable units; and
NOW THEREFORE, said Agreement recorded as Document No. 2005050519 in the Official
Records of San Luis Obispo County is hereby fully satisfied, released, and discharged and any
cloud on the above referenced parcel related to this document is hereby removed. Nothing in this
Release shall affect or modify any other components of Tract 2502.
MAY 01 2017
SLO CITY CLERK
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)o t-6
IN WITNESS WHEREOF, the parties hereto have executed this Release as of the date first set
forth above.
CITY OF SAN LUIS OBISPO,
a California municipal corporation and charter city
By: 6
Michae ❑dron
Community Development Director
APPROVED AS TO FORM:
.l.Stine Dietrick
Ci Attorney
/(7/o
1 Date
[SIGNATURE MUST BE NOTARIZED]
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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 Sian Lwis- 0blsfo
On A j2f } 20 17 ,before me, L1Q5_S ej Lt7tOn Notary Public,
personally appeared L k CVjAej 0,0"I cit 1 , who proved to me on the
basis of satisfactory evidence to be the person 10 whose named is/y6subscribed to the within
instrument and acknowledged to me that hels�ltVy executed the same in his*jrlth
authorized capacity(i/s), and that by hislk/,rlth/ir signatureV on the instrument the person, or
the entity upon behalf of which the person( acted, executed the instrument.
I certify UNDER PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
7
Nam :,5
Notary Public
jlsJ',A YN v t'� "
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NotaryPublic - Canto.n a
c'San Luis Obispo County•p xCommission M 2173027
iComm. Expires Nov 20. 2020
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