HomeMy WebLinkAboutD-2177 Broad Street Place - Affordable Housing Rental Restriction & Restrictive CovenantsRECORDING REQUESTED BY
First American Title Company
AND WHEN RECORDED MAIL DOCUMENT TO:
City of San Luis Obispo
Community Development Department
919 Palm Street
San Luis Obispo, CA 93401-3249
Attn: Community Development Manager
A.P.N.: 053-231-048
"*This document was electronically submitted
to San Luis Obispo County for recording"
2021018390
Tommy Gong
San Luis Obispo - County Clerk -Recorder
03/10/2021 02:12 PM
Recorded at the request of:
FIRST AMERICAN TITLE COMPANY
Titles:1 Pages:17
Fees: $0.00
Taxes: $0.00
Total: $0.00
Above This Line for Recorder's Use Only
File No.: 4009-6127807 (LB)
This document is recorded for the benefit
of the City of San Luis Obispo and is exempt
from recording fees pursuant to Sections 6103 and 27383
of the California Government Code.
AFFORDABLE HOUSING RENTAL RESTRICTION AGREEMENT AND
DECLARATION OF RESTRICTIVE COVENANTS
SEPARATE PAGE PURSUANT TO GOUT CODE 27361.6
D-2177
RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
City of San Luis Obispo
Community Development Department
919 Palm Street
San Luis Obispo, CA 93401-3249
Attn: Community Development Director
Space Above for Recorder's U.se
No fee for recording pursuant to
Government Code Section 27383
AFFORDABLE HOUSING RENTAL RESTRICTION AGREEMENT AND
DECLARATION OF RESTRICTIVE COVENANTS
(Rental Affordable Units at 3720 Broad Street for Broad Street Place)
This AFFORDABLE HOUSING RENTAL RESTRICTION AGREEMENT AND
DECLARATION OF RESTRICTIVE COVENANTS (this "Agreement") is made and entered
into on this 5 '"- day of M WZ4- , , 2021, by and between the City of San Luis
Obispo, a California charter city and municipal corporation (the "City"), and Broad Street Place,
L.P. (the "Owner"), collectively referred to as the "Parties."
RECITALS
A. Owner is the owner of certain real property located at 3720 Broad Street in the City,
which is more particularly described in attached Exhibit A incorporated herein by this reference
(the "Property").
B. On December 16, 2019, the City Architectural Review Commission approved the
modification (ARCH-0641-2019) of Resolution No. PC-1011-17 (the "Project Approvals")
allowing the of Owner's construction of 39 residential units on the Property plus one manager's
unit (the "Project"). Under Government Code Section 65915 — 65918 (the "Density Bonus
Law"), Owner applied for, and the City granted a 9 percent density bonus in exchange for the
Owner's offer to provide the Affordable Units, as defined below. Density Bonus Law requires the
City to ensure, and the Owner to agree to, continued affordability of the units that qualified the
Owner for the density bonus. In connection with the Project's approvals the City has (i) by
Resolution No. 11072 (2020 Series) agreed to provide a loan from the City's Affordable Housing
Fund in an amount not to exceed S1,300,000.00 (the "AHF Loan") and (ii) by Resolution No.
9903 agreed to provide a loan from the City's Impact Fee Deferral Program in an amount not to
exceed Three Hundred Forty -Seven Thousand Forty -Two Dollars and No/100 (S347,042.00) (the
"FDP Loan"), in exchange for Owner's offer to provide the Affordable Units, as defined below.
C. Pursuant to Municipal Code Section 17.138.040, and to satisfy the requirements of
Density Bonus Law the City's Community Development Department has established rental prices
and income limits for affordable rental housing units (the "Affordable Housing Standards"). The
Owner is required to rent One Hundred (100) percent of the forty (40) residential units (other than
one (1) manager's unit) developed in the Project at Affordable Rents, as defined below, to
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Extremely -Low, Very Low and Low Income Households (the "Affordable Units") in
conformance with the rental prices and income limits established by the Affordable Housing
Standards.
D. Owner acknowledges and agrees that the Project Approvals provided adequate and
proper notice pursuant to Government Code Section 66020 of the Owner's right to protest any
requirements for fees, dedications, reservations, and other exactions as may be included in this
Agreement, that no protest in compliance with Section 66020 was made within ninety (90) days
of the date that notice was given, and that the period has expired in which the Owner may protest
any and all fees, dedications, reservations, and other exactions as may be included in this
Agreement.
AGREEMENT
NOW, THEREFORE, the Parties agree and acknowledge that the above recitals are true
and accurate, and are incorporated into this Agreement by this reference, and the Parties mutually
acknowledge and agree as follows:
ARTICLE 1.
DEFINITIONS AND EXHIBITS
Section 1.1. Definitions. In addition to terms defined elsewhere in this Agreement, the
following terms have the following meanings in this Agreement:
(a) "Affordable Rent" means the maximum total of monthly payments by the
Tenant of an Affordable Unit, which is to be calculated in accordance with the formula provided
in the City of San Luis Obispo Affordable Housing Standards.
(b) "Director" means the Community Development Director of the City or
successor position.
(c) "Eligible Household" means a household which has been determined by
the Housing Authority or other agency designated by the Director to be eligible to rent an
Affordable Unit as an Extremely -Low Income Household, a Very -Low Income Household and/or
a Low Income Household, in compliance with the Affordable Housing Standards and this
Agreement.
(d) "Extremely -Low Income Household" is defined in the City of San Luis
Obispo's Affordable Housing Standards and means a household with a Household Income that
does not exceed thirty percent (30%) of the area median income as determined by the California
Department of Housing and Community Development.
(e) "Household Income" means the combined gross, pre-tax income of all
adult occupants of the applicant household.
(f) "Housing Authority" means the Housing Authority of the City of San Luis
Obispo.
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(g) "Low Income Household" is defined in the City of San Luis Obispo's
Affordable Housing Standards and means a household with a Household Income that does not
exceed eighty percent (80%) of the area median income as determined by the California
Department of Housing and Community Development.
(h) "Moderate Income Household" is defined in the City of San Luis Obispo's
Affordable Housing Standards and mean a household with a Household Income that does not
exceed one hundred twenty percent (120%) of the area median income as determined by the
California Department of Housing and Community Development.
(i) "Tenant" is a household occupying an Affordable Unit pursuant to a valid
lease with the Owner.
0) "Term" shall mean the term of this Agreement, which shall be in effect for
a fifty-five (55) year period from the date that a certificate of occupancy is issued for the last
Affordable Unit to be completed.
(k) "Very -Low Income Household" is defined in the City of San Luis Obispo's
Affordable Housing Standards and means a household with a Household Income that does not
exceed fifty percent (50%) of the area median income as determined by the California Department
of Housing and Community Development.
Section 1.2. Exhibits. The following exhibits are attached to this Agreement:
Exhibit A Legal Description of the Property
Exhibit B Map Showing Location of Affordable Units & Affordability Level
ARTICLE 2.
CONSTRUCTION OF PROJECT AND AFFORDABLE UNITS
Section 2.1. Construction of Affordable Units. The Owner agrees to construct forty (40)
residential units and make available thirty-nine (39) units as Affordable Units in the Project on the
Property during the Term. The Owner agrees to provide twelve (12) units that are affordable to
Extremely -Low Income Households, seven (7) units that are affordable to Very -Low Income
Households, and twenty (20) units that are affordable to Low Income Households, and one (1)
manager's unit.
Section 2.2. Design and Appearance of Affordable Units. The design, bedroom count,
appearance, and general quality of the Affordable Units shall be of the same as character of the
Project as a whole. The Owner agrees to provide during the term the Affordable Units with a
bedroom count mix of one (1) studio, nine (9) one -bedroom, nineteen (19) two -bedroom, and
eleven (11) three -bedrooms in the location shown and described on the attached Exhibit B
incorporated herein by reference. If, after recordation of this Agreement, the Owner proposes to
change the location, bedroom size, or affordability level of any Affordable Unit within the Project,
the Owner shall submit a written request for such change to the Director, who shall have sole
discretion to approve or deny such request.
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ARTICLE 3.
RENT REGULATORY PROVISIONS
Section 3.1. Affordability and Occupancy Covenants. The Affordable Units shall be
used exclusively for rental housing for the Term. The Affordable Units shall not be kept vacant
or used for any purpose except for residential use and shall be offered for rent only to Eligible
Households at Affordable Rents.
Section 3.2. Schedule of Affordable Rents.
(a) The City has provided the Owner with a schedule of Affordable Rents for
the Affordable Units in effect on the date of this Agreement. Affordable Rents may be increased
annually thereafter as set forth in the City of San Luis Obispo Affordable Housing Standards.
Except as herein expressly provided, the Owner shall not charge any fee other than rent or cost of
utilities to any Tenant of Affordable Units for any housing or other services provided by the
Owner.
(b) Increased Income of Tenants.
(i) Increase from Extremely -Low Income to Very -Low Income. If,
upon recertification annual of a Tenant's income, the Owner and the Housing Authority determine
that the Tenant's income has increased and exceeds the qualifying income for an Extremely -Low
Income Household, but does not exceed the qualifying limit for a Very Low Income Household,
then, upon expiration of the Tenant's lease and after sixty (60) days written notice to the Tenant,
the Tenant's Rent may be increased to Affordable Rent for Very Low Income Households. The
Owner shall rent the next available Affordable Unit to an Extremely Low Income Household at a
Rent not exceeding the maximum Rent specified in subsection (a) of this Section.
(ii) Increase from Very Low Income to Low Income. If, upon annual
recertification of a Tenant's income, the Owner and the Housing Authority determine that a former
Very Low Income Household's income has increased and exceeds the qualifying income for a Very
Low Income Household, but does not exceed the qualifying limit for a Low Income Household,
then, upon expiration of the Tenant's lease and after sixty (60) days written notice to the Tenant,
the Tenant's Rent may be increased to Affordable Rent for Low Income Households. The Owner
shall rent the next available Affordable Unit to a Very Low Income Household at a Rent not
exceeding the maximum Rent specified in subsection (a) of this Section.
(iii) Increase from Low Income to Moderate Income. If, upon annual
recertification of a Tenant's income, the Owner and the Housing Authority determine that a former
Low Income Household's income has increased and exceeds the qualifying income for a Low
Income Household, but does not exceed the qualifying limit for a Moderate Income Household,
then, upon expiration of the Tenant's lease and after sixty (60) days written notice to the Tenant,
the Tenant's monthly Rent may be increased to one -twelfth of thirty percent (1/12th of 30%) of the
Eligible Household's Income or market Rent, whichever is less. The Owner shall rent the next
available Unit to a Low Income Household, as applicable, at a Rent not exceeding the maximum
Rent specified in subsection (a) of this Section.
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Section 3.3. Agreement to Limitation on Rents. The Owner hereby covenants that the
City's approval of the AHF Loan, the FDP Loan and the Project proposed by the Owner, as further
described in Recital B, are forms of assistance specified in Chapter 4.3 (commencing with Section
65915) of Division 1 of Title 7 of the Government Code. The Owner further covenants that it has
agreed to limit Rents under Civil Code Sections 1954.52(b) and 1954.53(a)(2), as provided in this
Agreement, in consideration for the AHF Loan, the FDP Loan and the Project approved by the
City and proposed by the Owner. The Owner hereby covenants that the certain provisions of Civil
Code Section 1954.51 et seq. (the "Costa -Hawkins Act") do not apply. The Owner hereby
covenants that any Affordable Units provided pursuant to this Agreement are not subject to Civil
Code Section 1954.52(a) or any other provision of the Costa -Hawkins Act inconsistent with
controls on rents. The Owner further covenants that this Agreement complies with all federal,
State, and City laws and ordinances and that the terms of this Agreement are fully enforceable.
Section 3.4. Income Certification.
(a) Prior to the Owner entering into a lease with a prospective tenant of an
Affordable Unit, the prospective tenant household shall be certified as an Eligible Household by
the Owner, the Housing Authority of the City of San Luis Obispo, or other agency designated by
the Director.
(b) Annually, thereafter, the Owner will obtain, complete and maintain on file,
immediately prior to initial occupancy and annually thereafter, income certifications for each
Tenant renting any of the Affordable Units. The Owner shall obtain written certification by the
Owner, Housing Authority, or other agency designated by the Director that the Affordable Units
are being occupied by Eligible Households in compliance with the terms of this Agreement.
Section 3.5. Reports to City. The Owner shall submit to the Director on or before July
31 st of each year, or at other such interval as mutually agreed by the Parties, a report in a form
acceptable to the City to enable the City to verify that the Affordable Units are being occupied by
Eligible Households in compliance with the terms of this Agreement. At a minimum, information
to be submitted shall include:
(a) Certifications of eligibility for all Tenants of Affordable Units at the time
of initial occupancy. Such certification shall include verified income statements and number of
persons in each Affordable Unit.
Units.
(b) Certification of the amount of rent charged for the year for all Affordable
(c) Other information reasonably required by the City.
Section 3.6. Inspections. The City reserves the right to inspect the premises upon
reasonable notice to the Owner to ensure that the Property is being maintained, operated, and used
consistent with this Agreement and applicable federal, state and local codes. The Owner agrees to
correct all conditions found by such inspections not to conform to the applicable requirements
within ninety (90) days of delivery of written notice from the City, or such period as necessary to
correct the violations as determined by the Director, provided that corrections are commenced
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within ninety (90) days and prosecuted diligently to completion. Failure maintain the Property as
required by this Agreement or to correct such conditions shall be a Default, as defined below.
Section 3.7. Management of Property and Property Maintenance.
(a) Management Responsibilities. The Owner is responsible for all
management functions with respect to the Project, including, without limitation, the annual
recertification of household size and Household Income (subject to review by the Housing
Authority, the City or its assignee), selection of Tenants, evictions, collection of Rents and
deposits, maintenance, landscaping, routine and extraordinary repairs, replacement of capital
items, and security. The City shall have no responsibility over management of the Project.
(b) Property Maintenance. The City places prime importance on quality
maintenance to ensure that all developments within the City which include affordable housing
units are not allowed to deteriorate due to below -average maintenance. The Owner shall provide
the Affordable Units with the same level and quality of maintenance, including performance of
repairs and periodic replacement of fixtures as the other units in the Project. The Owner agrees to
maintain all interior and exterior improvements, including landscaping, on the Property in good
condition and repair (and, as to landscaping, in a healthy condition) and in accordance with all
applicable laws, rules, ordinances, orders and regulations of all federal, state, county, municipal,
and other governmental agencies and bodies having or claiming jurisdiction and all their respective
departments, bureaus, and officials.
(c) Taxes and Assessments. The Owner shall pay all real and personal property
taxes, assessments, if any, and charges and all franchise, income, employment, old age benefit,
withholding, sales, and other taxes assessed against it, or payable by it, at such times and in such
manner as to prevent any penalty from accruing, or any lien or charge from attaching to the
Property; provided, however, that the Owner shall have the right to contest in good faith, any such
taxes, assessments, or charges. In the event the Owner exercises its right to contest any tax,
assessment, or charge against it, the Owner, on final determination of the proceeding or contest,
shall immediately pay or discharge any decision or judgment rendered against it, together with all
costs, charges and interest.
Section 3.8. Laws and Regulations. The Owner acknowledges that Owner is familiar
with and will comply with all local and State laws and regulations that pertain to construction,
health and safety, labor, fair housing practices, equal opportunity and all other matters applicable
to maintaining sound, safe and affordable rental housing.
ARTICLE 4.
ENFORCEMENT
Section 4.1. Covenants Running with the Land. The requirements of this Agreement
shall be covenants running with the land as defined in California Civil Code Section 1460 and
shall apply to the Property. Pursuant to Civil Code Section 1468, which governs such covenants,
the provisions of this Agreement shall be binding upon all Parties having any right, title, or interest
in the Property, or any portion thereof and on their heirs, successors in interest and assigns for the
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12767-0008\2488585v9.doc
Term. The Parties agree that all future deeds or transfers of interest regarding the Property shall
show the restrictions of this Agreement for the Term.
Section 4.2. Default. Failure of the Owner to satisfy any of the Owner's obligations
under the terms of this Agreement within one hundred twenty (120) days after the delivery of a
notice of default from the City will constitute a default under this Agreement ("Default"). In
addition to remedies for breach of this Agreement, the City may exercise any and all remedies
available to it under the Municipal Code or other any other provision of law or equity, including
but not limited to:
(a) withholding, conditioning, suspending or revoking any Project Approvals,
including without limitation final inspections for occupancy and/or certificates of occupancy;
(b) instituting against the Owner, or other parties, a civil action for declaratory
relief, injunction or any other equitable relief, or relief at law, including without limitation an
action to rescind a transaction and/or to require repayment of any excess funds received in violation
of this Agreement;
(c) where one or more persons have received financial benefit as a result of
violation of this Agreement or of any requirement imposed under the Density Bonus Law, the City
may assess, and institute legal action to recover as necessary, a penalty in any amount up to and
including the amount of any excess financial benefit received, in violation of this Agreement; and
(d) requiring the Owner or his/her successors in interest to the Property to pay
the City rent or any other payment received by the Owner in excess of Affordable Rent for the
Affordable Unit from the date of any unauthorized use of the Affordable Unit.
Section 4.3. Attorneys' Fees and Costs. If either Party takes or commences any actions
or proceedings, including litigation or arbitration, against the other by reason of any breach or
claimed breach of any provision of, or in any way connected with, this Agreement, or seeks a
judicial declaration of rights under this Agreement, the Party prevailing in such action or
proceeding shall be entitled to recover from the other Party the prevailing Party's reasonable
attorneys' fees and costs, including, but not limited to, all expert witness fees, other witness fees
and associated expenses, whether or not the proceeding or action proceeds to judgment.
ARTICLE 5.
GENERAL PROVISIONS
Section 5.1. Appointment of Other Agencies. At its sole discretion, the City may
designate, appoint or contract with any other public agency, for -profit or non-profit organization
to perform some or all of the City's obligations under this Agreement.
Section 5.2. Records. The Owner shall retain all records related to compliance with
obligations under this Agreement for a period not less than five (5) years from the date of
origination of such records, and make them available to City employees or others designated by
the City for inspection and copying on five (5) business days' written notice. The City shall be
entitled to monitor compliance with this Agreement and Density Bonus Law, and the Owner shall
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12767-0008\24885 85 v9. do c
cooperate with City monitoring, including obtaining Tenant Affordable Rent and Household
Income verification upon request of the City.
Section 5.3. Hold Harmless. Owner will indemnify and hold harmless (without limit as
to amount) the City and its elected officials, officers, employees and agents in their official
capacity (hereinafter collectively referred to as "Indemnitees"), and any of them, from and against
all loss, all risk of loss and all damage (including expense and attorneys' fees) sustained or incurred
because of or by reason of any and all claims, demands, suits, actions, judgments and executions
for damages of any and every kind and by whomever and whenever made or obtained, allegedly
caused by, arising out of or relating in any manner to the Project, the Affordable Units, or the
Owner's performance or non-performance under this Agreement, including claims pursuant to
California Labor Code Section 1720 et seq., and shall protect and defend Indemnitees, and any of
them with respect thereto, except to the extent arising from the proven gross negligence or willful
misconduct of the City. The provisions of this Section shall survive expiration or other termination
of this Agreement or any release of part or all of the Property from the burdens of this Agreement,
and the provisions of this Section shall remain in full force and effect.
Section 5.4. Notices. All notices required pursuant to this Agreement shall be in writing
and may be given by personal delivery or by registered or certified mail, return receipt requested,
to the Party to receive such notice at the addressed set forth below:
TO THE CITY:
City of San Luis Obispo
Community Development Department
919 Palm Street
San Luis Obispo, CA 93401-3249
Attn: Community Development Director
WITH A COPY TO:
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401
Attn: City Clerk
TO THE OWNER:
Broad Street Place, L.P.
c/o People's Self -Help Housing Corporation
3533 Empleo Street
San Luis Obispo, CA 93406
Attn: Chief Executive Officer
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WITH A COPY TO:
The Banc of America Housing Fund XIV
Limited Partnership, LLLP
c/o Enterprise Community Asset Management, Inc.
70 Corporate Center
11000 Broken Land Parkway, Suite 700
Columbia, Maryland 21044
Attn: Asset Management
Gubb & Barshay LLP
505 14th Street, Suite 450
Oakland, CA 94612
Attn: Sarah C. Perez, Esq.
Any notice shall be deemed delivered on the first business day that delivery is attempted or upon
receipt, whichever is sooner. As used herein, "business day" means any day other than a Saturday,
Sunday, or any state or federal holiday on which financial institutions in San Luis Obispo County
are authorized or required to close for observance thereof. Any Party may change the address to
which notices are to be sent by notifying the other Parties of the new address, in the manner set
forth above.
Section 5.5. Integrated Agreement. This Agreement sets forth the full and entire
understanding of the Parties regarding the matter set forth herein. Any other prior or existing
understandings or agreements by the Parties, whether formal or informal, regarding any matters
addressed within this Agreement are hereby superseded or terminated in their entirety.
Section 5.6. Each Party's Role in Drafting the Agreement. Each Party to this Agreement
has had an opportunity to review the Agreement, confer with legal counsel regarding the meaning
of the Agreement, and negotiate revisions to the Agreement. Accordingly, neither Party shall rely
upon Civil Code Section 1654 in order to interpret any uncertainty in the meaning of the
Agreement.
Section 5.7. Amendment of Agreement. No changes, amendments, or alterations to this
Agreement shall be effective unless in writing and signed by all Parties hereto. Major amendments
to this Agreement, shall be subject to the review and approval of the decision -making body which
approved the Project Approvals. Minor amendments to this Agreement may be approved by the
Director. Upon approval and agreement by all Parties hereto, a new Agreement containing the
amendments shall be executed and recorded.
Section 5.8. Applicable Law. This Agreement shall be governed by California law.
Venue shall be the County of San Luis Obispo.
Section 5.9. Waivers. Any waiver by the City of any obligation or condition in this
Agreement must be in writing. No waiver will be implied from any delay or failure by the City to
take action on any breach or default of the Owner or to pursue any remedy allowed under this
In
12767-0008\2488585 v9. doc
Agreement or applicable law. Any extension of time granted to the Owner to perform any
obligation under this Agreement shall not operate as a waiver or release from any of its obligations
under this Agreement. Consent by the City to any act or omission by the Owner shall not be
construed to be a consent to any other or subsequent act or omission or to waive the requirement
for the City's written consent to future waivers.
Section 5.10. Title of Parts and Sections. Any titles of the sections, subsections, or
subparagraphs of this Agreement are inserted for convenience of reference only and shall be
disregarded in interpreting any part of the Agreement's provisions.
Section 5.11. Multiple Originals; Counterpart. This Agreement may be executed in
multiple originals, each of which is deemed to be an original, and may be signed in counterparts.
Section 5.12. Recording of Agreement. This Agreement shall be recorded against the
Property in the Official Records of the County of San Luis Obispo prior to the recordation of any
parcel map or final subdivision map or issuance of any building permit for the Project, whichever
occurs first.
Section 5.13. Severability. In the event any limitation, condition, restriction, covenant,
or provision contained in this Agreement is to be held invalid, void or unenforceable by any court
of competent jurisdiction, the remaining portions of this Agreement shall nevertheless be and
remain in full force and effect.
[Remainder of this page intentionally left blank]
[Signatures appear on next page]
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IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed
as of the day and year first above written.
OWNER:
Broad Street Place, L.P.,
a California limited partnership
Broad Street Place LLC,
a California Limited Liability Company
Its: General Partner
By: People's Self -Help Corporation
a California nonprofit public benefit corporation
Its: Sole Memmbberr// Manager
By:
Name: Mo gen Benevedo
Its: Executive Vice President
CITY:
City of San Luis Obispo,
a California c arter city municipal corporation
By:
Michael Codron
Community Development Director
APPRTCstine OLEGAL EFFECT:
By: ck, City Attorney
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
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 San Luis Obispo ) n- "
On _ yf S, q'12-1 before me, �,U � Alwavid wt- v6ycz LQC,!I
' ��� �(yooa and title of the officer) �'
Notary Public personally appeared V�/ I ('(,� (l ►tl,�'!�\
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 laws of the State of California that the
foregoing paragraph is true and correct.
WI ESS y ha d and official seal.
Signature (Seal)
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12767-0008\2488585v9.doc
CARA ALEXANDRA VERESCHAGIN
Notary Pubk - California z
n
Commission # 2255915
OSan Luis Obispo My Comm. Expires Aug 26, 2022
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
A Notary Public or other officex 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 San Luis Obispo ) n
On I V4CA before me, L• ��iL( `� ,
nn (insert name and title of the officer)
Notary Public, personally appeared jqb to,& N �J c N(�- 1/'�F'- 1�) U ,
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 laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS in hand and official seal.
I
Signature A4 (Seal)
L. A. BERTRAND
Notary Public -California Z
z _ San Luis Obispo County
Commission n 2210707
Yq
My Comm. Expires Sep 16, 2021
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12767-0008\2488585 v9.doc
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
Real property in the City of San Luis Obispo, County of San Luis Obispo, State of California,
described as follows:
PARCEL 3 OF PARCEL MAP SLO 13-0003, IN THE CITY OF SAN LUIS OBISPO, COUNTY
OF SAN LUIS OBISPO, STATE OF CALIFORNIA, ACCORDING TO MAP RECORDED
JANUARY 31, 2014 IN BOOK 77 OF PARCEL MAPS AT PAGES 16 AND 17.
PARCEL B:
A 40 FOOT PRIVATE ACCESS AND UTILITY EASEMENT OVER PARCEL 2 OF PARCEL
MAP SLO 13-0003, IN THE CITY OF SAN LUIS OBISPO, COUNTY OF SAN LUIS OBISPO,
STATE OF CALIFORNIA, ACCORDING TO MAP RECORDED JANUARY 31, 2014 IN
BOOK 77 OF PARCEL MAPS AT PAGES 16 AND 17.
APN: 053-231-048
A-1-
12767-0008\24885 85 v 9. doc
EXHIBIT B
MAP SHOWING LOCATION OF AFFORDABLE UNITS
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12767-0008\2488585v9.doc
Affordability
AMI Target
Units Provided
Unit Size
Extremely Low Income
30% AMI
6
1-Bedroom
Extremely Low Income
30% AMI
4
2-Bedroom
Extremely Low Income
30% AMI
2
3-Bedroom
Very Low Income
50% AMI
1
Studio
Very Low Income
50% AMI
1
1-Bedroom
Very Low Income
50% AMI
4
2-Bedroom
Very Low Income
50% AMI
1
3-Bedroom
Low Income
60% AMI
2
1-Bedroom
Low Income
60% AMI
I 1
2-Bedroom
Low Income
60% AMI
7
3-Bedroom
Manager's Unit
1
3-Bedroom
IM
12767-0008\24885 85 v 9. doc