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CD Marin Housing BMR - 21 G StreetNo recording fee per G.C. 27383 Recording Requested b -y: Housing Authority of the County of Marin When Recorded Return to: Housing Authority of the County of Marin Attention: BMR Department 4020 Civic Center Drive San Rafael, CA 94903 i COPY' ,ocurrient Recorded 10:35AM 23 -.Ian -2019 20'19-0002040 Has not been corrnpared with original MARIN COUNTY RECORDER BELOW MARKET RATE HOUSING AGREEMENT AND DECLARATION OF RESTRICTIVE COVENANTS (Ownership Units) Development Name: 21 G SS&fe—t Affordable Unit Property Address: TBD (Parcel and Site Plan attached) APN: 011-232-10 21 G'"t,S n fael, CA 94901 Developer: 21 G St�ceF LL This Below Market Rate Housing Agreement anti eclaration of Restrictive Covenants the "Agreement") is made and entered into this 3 day of 12eccxhb,0(2018 , among the CITY OF SAN RAFAEL, a municipal corporation ("City"), the HOUSING AUTHORITY OF THE COUNTY OF MARIN, a public body, corporate and politic, created under the Housing Authority Law of the State of California ("Marin Housing Authority"), and 21 GVFRE ti, LLC, a California limited liability company, or any successor in interest ("Developer"), collect�l the "Parties," with reference to the following: A. Developer is the fee owner of that certain property located at 21 G Street in the City of San Rafael, County of Marin, California (the "Property"). The City has approved a development on the Property consisting of eight condominium units (the "Development"). B. The City has adopted affordable housing requirements contained in the Zoning Ordinance Section 14.16.030 of the San Rafael Municipal Code (the "Affordable Housing Requirements") The Developer is required to provide one or more affordable units pursuant to the Affordable Housing Requirements and San Rafael Planning Commission Resolution No. 14-03 adopted on February 25, 2014. Resolution 14-03conditionally approved the proposed Environmental and Design Review Permit (ED 12-058), Variances (V 12-002), Tentative Map (TS 13-002), and Exception (EX 13-008) to allow for the subdivision of the existing parcel into 8 -lots to create 8 residential townhouse units; including one affordable unit. C. The Planning Commission subsequently approved Resolution No. 16-14 on July 20, 2014 providing for a two year time extension. 10/30/2018 a i4 D. On October 9, 2018, the Planning Commission adopted Resolution No. 18-11, conditionally approving an additional time extension for the Environmental and Design Review Permit (EDI 8-021), Variance (V18-006), Tentative Map (TS18-001)and Subdivision Exception (EX18- 003)to construct eight (8) new townhomes and one (1) common open space parcel for shared outdoor recreation space, and establishing a new expiration date of June 16, 2019 provided that a building/grading permit is issued, and construction commenced, by June 16, 2019. One of the conditions of ED 18-021 is for the developer to enter into a Below Market Housing Ownership Agreement with the City of San Rafael. E. Marin Housing Authority is authorized by law to participate in programs that provide housing for households of very low, low, and moderate income and is by experience qualified to screen and determine the eligibility of applicants for very low, low, and moderate income housing. F. The Parties hereto desire, by this Agreement, to cooperate in implementing the efforts of the Developer to comply with the Affordable Housing Requirements. NOW THEREFORE, it is hereby agreed by and between the Parties hereto as follows. AGREEMENT The foregoing recitals are hereby incorporated by reference and made part of this Agreement. Section 1. Definitions. In addition to those terms defined in the Recitals and elsewhere in this Agreement, the following terms are specially defined for the purposes of this Agreement: "Affordable Ownership Price" means a sales price calculated by the Marin Housing Authority that includes a reasonable down payment and results in a Monthly Housing Payment during the first calendar year of a household's occupancy that (i) for Low Households is equal to or less than one -twelfth (1/12) of thirty-three percent (33%) of sixty percent (60%) of Area Median Income, as adjusted for Assumed Household Size. The calculations and methodology used to determine the Affordable Ownership Price are illustrated in Exhibit "C" attached hereto. (a) Area Median Income" means median yearly income for the San Francisco Primary Metropolitan Statistical Area as determined by the United States Department of Housing and Urban Development, Office of Economic Affairs, Economic and Market Analysis Division, with adjustments for smaller or larger households. (b) "Assumed Household Size" shall be a family of three (3) for a two bedroom unit. (c) "Deed of Trust" means the deed of trust, in the form provided by the Marin Housing Authority, executed by each buyer of an Affordable Unit, securing the buyer's performance under the Resale Agreement. (d) "Eligible Household" means a household that has been determined by the Marin Housing Authority to be eligible to purchase an Affordable Unit under guidelines adopted by the Marin Housing Authority and additionally is eligible under any special requirements for eligibility adopted by the City. 10/30/2018 1) (e) "Monthly Housing Payment" is determined by the Marin Housing Authority and includes monthly payment of mortgage interest and principal, property taxes, mortgage insurance, homeowner's insurance, and homeowners' association dues paid by homeowners. (f) "Resale Agreement" means the Resale and Refinancing Restriction Agreement and Option to Purchase, in the form provided by the Marin Housing Authority, executed by each buyer of tD an Affordable Unit, the City and Marin Housing Authority. Section 2. Satisfaction of Affordable Housing Requirement. The Affordable Housing Requirements shall be satisfied with respect to the Development if: (a) the Developer constructs or causes to be constructed the Affordable Unit meeting the requirements of Sections 3 through 4 below, in compliance with the schedule set forth in Section 5 below; and (b) Developer sells the Affordable Unit to an Eligible Household in compliance with Sections 6 through 8 below. Section 3. Number of Affordable Units. Developer shall construct, or cause to be constructed, one (1) two-bedroom Affordable Unit as shown in Exhibit B. Section 4. Appearance, Size and Bedroorn Count. The Affordable Unit shall be of the same general design and exterior appearance as the Market Rate Units and of comparable quality of construction. Interior features of the Affordable Units shall be durable and of good quality. The Affordable Unit shall include two bedrooms. Section 5. Schedule for Developing the Affordable Unit. Developer shall provide the Affordable Units pursuant to the following schedule: (a) Prior to or concurrently with recordation of any final or parcel map or issuance of any building permit for the Development, this Agreement shall be duly executed by the City, Marin Housing Authority, and the Developer and recorded against the Affordable Unit. (b) Building permit for the Affordable Unit shall be issued concurrently and on a pro rata basis with the Market Rate Units. (c) Certificate of occupancy or final inspection for the Affordable Unit shall be issued concurrently and on a pro rata basis with the Market Rate Units. Section 6. Sale of Affordable Unit to Eligible Household. The Developer shall sell the completed Affordable Unit to an Eligible Household at the Affordable Ownership Price established by the Marin Housing Authority as described in this Section. Developer shall make a good faith effort to market the Affordable Unit to Eligible Households. (a) The Developer shall provide the Marin Housing Authority with written notice at least one hundred twenty (120) days before the issuance of any certificate of occupancy or approval of a final inspection for any dwelling unit in the Development or approval of any final inspection for an Affordable Unit. (b) The Developer agrees that the Affordable Ownership Price for the Affordable Unit shall not exceed the prices set forth in Exhibit "C" attached hereto, unless modified by the Marin Housing Authority as described in subsections (c) and (d) below. Developer acknowledges and agrees that the Affordable Ownership Price as shown in Exhibit "C" has been calculated by Marin Housing 10/30/2018 Authority in its reasonable discretion in interpreting the requirements of this Agreement and that any re- calculation of the Affordable Ownership Prices by the Marin Housing shall be consistent with the methodology illustrated in Exhibit "C" and shall be binding on the Developer. The Affordable Ownership Price shall be the absolute maximum price that the Developer or any other seller may receive as compensation for the sale of an Affordable Unit. The Developer or other seller may not charge or receive any additional compensation for an Affordable Unit regardless of whether the additional amount is (i) for options, upgrades, or additional improvements to the unit, (ii) paid through escrow or outside of escrow, (iii) paid prior to, after, or as part of the purchase escrow, or (v) paid in cash or in kind to the Developer. The Affordable Ownership Price does not include proration of taxes, utilities, and homeowner's association fees, nor does it include such closing costs as insurance premiums, escrow costs, transfer taxes, recording fees, document preparation costs, or similar items. (c) Recalculation of the Affordable Ownership Price shall be permitted at the time that the Developer provides written notice to Marin Housing Authority at least one hundred twenty (120) days prior to the issuance of any certificate of occupancy or approval of any final inspection for an Affordable Unit if: (i) the mortgage rate shown in Exhibit "C" is different from the then -current market interest rate; (ii) Area Median Income has changed from that set forth in Exhibit "C"; (iii) the final approved homeowners association dues are different from the estimate shown in Exhibit "C;" or (iv) the mortgage insurance estimate has changed from that set forth in Exhibit "C". (d) Upon receipt of the Developer's 120 -day notice, the Affordable Ownership Price shall be recalculated by Marin Housing Authority using: (i) the most affordable available mortgage rate for a thirty (30) -year, fixed-rate mortgage as determined by Marin Housing Authority; (ii) the current Area Median Income; (iii) the final approved homeowners association dues; and (iv) the current mortgage insurance estimate. Such an adjustment to the Affordable Ownership Price shall be allowed more than one time only if mutually agreed by all the Parties to this Agreement. (e) Developer agrees to offer the Affordable Unit for sale only to an Eligible Household. Marin Housing Authority agrees to process applications and certify the eligibility of applicants. Selection of Eligible Households shall be determined by a drawing or other equitable method mutually agreed upon by the City and Marin Housing Authority and administered by the Marin Housing Authority. Developer shall not unreasonably delay its review and acceptance or rejection of any purchase offer submitted by an applicant supplied by Marin Housing Authority. (f) In the event that an Affordable Unit is not sold one hundred twenty (120) days from the date of issuance of a certificate of occupancy for that Affordable Unit, the Developer may, in writing, offer the Affordable Unit for sale to the Marin Housing Authority or assignee at the Affordable Ownership Price. For the purposes of this Section 6, "sold" shall mean that the Developer and an Eligible Purchaser have entered into a purchase and sale agreement for that Affordable Unit. Within ten (10) working days after receipt of such written notice, Marin Housing Authority shall notify the Developer in writing whether or not it will purchase the Affordable Unit at the Affordable Ownership Price or whether it has assigned the offer to the City, another public agency, a non-profit organization, or an Eligible Purchaser. If Marin Housing Authority notifies the Developer that it or its assignee will purchase the Affordable Unit, the Developer shall execute a purchase and sale agreement and other documents described in Sections 7 and 8 below, as applicable, to sell the Affordable Unit to Marin Housing Authority or its assignee at the Affordable Ownership Price. Close of escrow shall take place on the date which is the later to occur of the following: (i) sixty (60) days after the date that the purchase and sale agreement is executed, or (b) ten (10) days after Developer has done all acts and executed all documents required for close of escrow, including but not limited to having sufficient units in the Development 10/30/2018 4 presold to meet the requirements of lending agencies. The Developer shall convey title to the Affordable Unit at the close of escrow free and clear of any mortgage, lien, or other encumbrance, unless approved in advance in writing by the Marin Housing Authority or assignee. (g) In the event that Marin Housing Authority declines to purchase the Affordable Unit or to assign the offer provided pursuant to subsection (f) of this Section within ten (10) working days after receipt of such written notice, the Affordable Unit may be sold by the Developer without restrictions as'to price, and Sections 7 and 8 below will not apply to the sale of the Affordable Unit. To further the purpose of the Affordable Housing Requirements, which is to provide housing to all economic segments of the population, and to allow for sale of the Affordable Units while preventing a windfall to Developer if Developer fails to enter into purchase and sale agreements with Eligible Purchasers, in such event the Developer shall pay to the City at close of escrow one hundred percent (100%) of the difference between the sales price (less any real estate commissions not to exceed six percent (6%) of the sales price and normal closing costs) and the Affordable Ownership Price. The City shall pay to Marin Housing Authority ten percent (10%) of this sum for administrative costs related to administration of the City's Affordable Housing Requirements and shall utilize the remaining amount to provide housing affordable to very low, low, and moderate income households. Following payment of all sums due to the City, the City and Marin Housing Authority shall release the Affordable Unit from this Agreement as specified in Section 9. Section 7. Marin Housing Authority and City Approval of Homebuyer Documents. Approval of the following documents by the Marin Housing Authority shall be required prior to the offering for sale of the Affordable Units. (a) Form of Purchase and Sale Agreements for the Affordable Units (to be prepared by Developer and submitted to the Marin Housing Authority). Purchase and sale agreements between Developer and Eligible Households shall include requirements that: (i) Eligible Households shall execute documents for the benefit of the City and Marin Housing Authority as described in Section 8 below; and (ii) Marin Housing Authority shall be paid a transaction fee of two percent (2%) of the Affordable Ownership Price, such fee to be paid in equal shares by the Developer and by the Eligible Household at close of escrow. Except for terms required to effectuate this Agreement, the Affordable Unit shall be offered to Eligible Purchasers on the same terms as the Market Rate Units are offered to purchasers. (b) Form of Resale Agreement, Deed of Trust, Request for Notice of Default and Sale, and Borrower's Disclosure, and Notice of Affordability Restrictions, if required (to be prepared by the Marin Housing Authority, following Developer's 120 -day notice to Marin Housing Authority). (c) The preliminary Department of Real Estate public report for the Development, including the Affordable Unit (to be obtained by the Developer and submitted to the Marin Housing Authority). (d) Developer's form escrow instructions (to be prepared by the Developer and submitted to the Marin Housing Authority). (e) All such documents shall also be submitted to the City for review and approval. Section 8. Homebuyer Documents and Security Instruments. Prior to the sale of the Affordable Unit, Developer shall ensure that: 10/30/2018 (a) The Eligible Household, the City, and the Marin Housing Authority execute the Resale Agreement in the form provided by the Marin Housing Authority. The escrow instructions shall stipulate that the Resale Agreement shall be recorded against the Affordable Unit at close of escrow on the sale to the Eligible Household; and that the Resale Agreement shall be recorded junior only to the lien of the deed of trust securing the Eligible Household's first mortgage loan, or to a second mortgage loan only if such loan is provided by a public agency which requires such subordination, or as otherwise approved in writing by the Marin Housing Authority. (b) The Eligible Household signs the Deed of Trust to secure performance of the Eligible Household's covenants under the Resale Agreement. The Deed of Trust shall be recorded against the Affordable Unit, subordinate only to the Resale Agreement and the lien of the deed of trust securing the Eligible Household's first mortgage loan or to a second mortgage loan only if such loan is provided by a public agency which requires such subordination, or as otherwise approved in writing by the Marin Housing Authority. (c) A Request for Notice of Default and Sale is recorded for each deed of trust recorded at close of escrow. (d) The Eligible Household signs the Borrower's Disclosure in the form provided by the Marin Housing Authority. (e) If required, the Eligible Household and the City sign the Notice of Affordability Restrictions. Within five (5) days following closing of the sale of any Affordable Unit, Developer shall forward to the Marin Housing Authority copies of the buyer's and seller's settlement statement and all closing documents, including Resale Agreement, Deed of Trust, Request(s) for Notice of Default and Sale, and Borrower's Disclosure, and Notice of Affordability Restrictions, if required, executed in connection with the sale. Developer shall retain all records related to compliance with obligations under this Agreement and the Affordable Housing Requirements for a period not less than two (2) years from the date of sale of all units in the Development and make them available on five (5) business days' written notice to Marin Housing Authority or City employees or others designated by the Marin Housing Authority or City for the purposes of inspection and copying. 10/30/2018 Section 9. Release of Property From Agreement (a) Covenant Running with the Land The covenants and conditions herein contained shall apply to and bind, during their respective periods of fee ownership, Developer and its heirs, executors, administrators, successors, transferees, and assignees having or acquiring any right, title or interest in or to any part of the Affordable Unit Property, whether by operation of law or in any manner whatsoever, and shall run with and burden the Affordable Unit Property in perpetuity until terminated in accordance with this Section. All of the provisions of this Agreement shall be enforceable as equitable servitudes and shall constitute covenants running with the land pursuant to applicable laws, including without limitation Section 1468 of the California Civil Code. Each covenant to do, or to refrain from doing, some act on the Affordable Unit Property hereunder (a) is for the benefit of the Affordable Unit Property and is a burden on the Affordable Unit Property, (b) runs with the Affordable Unit Property, and (c) is binding upon each Party and each successive owner during its ownership of the Affordable Unit Property or any portion thereof, and shall be a benefit to and a burden upon each Party and the Affordable Unit Property hereunder and each other person or entity succeeding in an interest to the Affordable Unit Property. (b) Until the Affordable Unit Property is released from the burdens of this Agreement pursuant to this Section, any owners of fee title to the Affordable Unit Property and the Development shall expressly make the conditions and covenants contained in this Agreement a part of any deed or other instrument conveying any interest in the Affordable Unit Property. Any deed transferring any fee interest in the Affordable Unit Property shall include the following language: NOTICE: THE SALES PRICE FOR THIS PROPERTY IS RESTRICTED BY THE CITY OF SAN RAFAEL TO PERSONS MEETING CERTAIN FEDERAL, STATE AND/OR CITY ELIGIBILITY REQUIREMENTS. FOR MORE INFORMATION, SEE THE AGREEMENT RECORDED AGAINST THIS PROPERTY OF EVEN DATE HEREWITH. THESE RESTRICTIONS BIND ALL HEIRS AND SUCCESSORS TO THIS DEED. (c) Affordable Units Offered for Sale the Affordable Unit Property shall be released from the burdens of this Agreement when it is: (i) sold to an Eligible Household in compliance with this Agreement; and (ii) a Resale Agreement, Deed of Trust, Request for Notice of Default, and, if required, Notice of Affordability Restrictions, are recorded against the Affordable Unit. The form of the release is included in Exhibit "D". (d) Release Upon Approval of the City. In the event the Development is not constructed and approvals for the Development expire, or the City modifies the conditions of approval for the Development such that no Affordable Unit is required in the Development, or the Affordable Unit is sold pursuant to the provisions of Section 6(g), this Agreement shall be released from record against the Affordable Unit Property. The form of the release is included in Exhibit "D". Section 10. Non -Discrimination. Developer shall not discriminate against persons or groups of persons on account of race, color, religion, creed, sex, sexual orientation, marital status, familial status, ancestry or national origin in the use, sale, transfer, occupancy, lease, tenure or enjoyment of the Affordable Unit Property, nor shall Developer or any person claiming under or through Developer establish or permit any such practice or practices of discrimination or segregation with respect to use or occupancy of the Affordable Unit Property. Developer shall ensure that language prohibiting such discrimination shall be included in any and all deeds, leases and contracts executed by Developer or its successors with respect to the Affordable Unit Property. 10/30/2018 7 Section 11. Default and Remedies. Failure of the Developer to cure any default in the Developer's obligations under the terms of this Agreement within thirty (30) days after the delivery of a written notice of default from the Marin Housing Authority or the City (or such longer period of time up to an additional one hundred twenty (120) days as may be necessary to remedy such default, provided that the Developer has commenced action during the thirty (30) days necessary to remedy such default, and the Developer is proceeding with reasonable diligence to remedy such default) will constitute a default under this Agreement and the Affordable Housing Requirements, and, in addition to any other remedy authorized by law or equity for breach of this Agreement, Marin Housing Authority and/or the City, as applicable, may exercise any and all remedies available to it with respect to the Developer's failure to satisfy the terns of this Agreement and the Affordable Housing Requirements, including but not limited to: (a) on the part of the City, withholding, conditioning, suspending, or revoking any permit, license, subdivision approval or map, or other entitlement for the Development, including without limitation final inspections for occupancy and/or certificates of occupancy; (b) on the part of the City, exercising any remedies available under the Subdivision Map Act, the Affordable Housing Requirements, the City's Municipal Code, or otherwise, with respect to the Developer's failure to satisfy the terms of this Agreement and the Affordable Housing Requirements; (c) on the part of the City and/or the Marin Housing Authority, instituting against the Developer, 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 funds received in connection with such a violation; and (d) on the part of the City and/or the Marin Housing Authority, where one or more persons have received a financial benefit as a result of violation of this Agreement or of any requirement imposed under the Affordable Housing Requirements, assessing, and instituting legal action to recover as necessary, a penalty in any amount up to and including the amount of financial benefit received, in addition to recovery of the benefit received. Section 12. Remedies Cumulative. No right, power, or remedy given to the Marin Housing Authority or to the City by the terms of this Agreement or the Affordable Housing Requirements is intended to be exclusive of any other right, power, or remedy; and each and every such right, power, or remedy shall be cumulative and in addition to every other right, power, or remedy given to the Marin Housing Authority and the City by the terms of any such document, the Affordable Housing Requirements, or any statute or otherwise against Developer and any other person. Neither the failure nor any delay on the part of the Marin Housing Authority or the City to exercise any such rights and remedies shall operate as a waiver thereof, nor shall any single or partial exercise by the Marin Housing Authority or the City of any such right or remedy preclude any other or further exercise of such right or remedy, or any other right or remedy. 10/30/2018 S Section 13. Attorneys Fees and Costs. If the Marin Housing Authority, the City, or the Developer is required to initiate legal proceedings at law or equity to enforce its rights under this Agreement, the prevailing Party in such action shall be entitled to an award of reasonable attorneys' fees and costs in addition to any other recovery under this Agreement. Whether or not litigation is instituted, Marin Housing Authority and the City shall be entitled to receive from any person violating this Agreement, in addition to any remedy otherwise available under this Agreement, the costs of enforcing this Agreement including without limitation reasonable attorney's fees and costs of the Marin Housing Authority and City staff. Section 14. Hold Harmless and Indemnification. Developer will indemnify and hold harmless (without linut as to amount), with counsel approved by Marin Housing Authority and/or City, as applicable, Marin Housing Authority and City and their elected officials, officers, employees, and agents in their official capacity (hereinafter collectively referred to as "Indemnitees"), and any of them, from and against all claims, damages, losses, liabilities, actions, causes of action, expenses, and demands whatsoever, including without limitation attorney's fees arising out of the performance of this Agreement (collectively "Claims"), arising out of or relating in any manner as a result of or in connection with Developer's construction, sale, management, or operation of the Development and/or, the Affordable Units, and/or Developer's performance or non-performance of any obligation as and when required by this Agreement, caused in whole or part by any negligent act or omission of the Developer, except where caused by the gross negligence or willful misconduct of the Marin Housing Authority and/or the City, and shall protect and defend Indemnitees, and any of them with respect thereto. The provisions of this Section 14 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 14 shall remain in full force and effect. Section 15. Notices. All notices required by this Agreement shall be made by certified mail, return receipt requested, or by express delivery service with a delivery receipt, and shall be deemed to have been delivered as of the date received or the date delivery was refused as indicated on the return receipt, if sent to the following addresses: To the City: City of San Rafael Attention: City Manager 1400 Fifth Avenue San Rafael, CA 94901 To Marin Housing Authority: Marin Housing Authority Attention: Executive Director 4020 Civic Center Drive San Rafael, CA 94903-4173 To the Developer:21 G StF t, LLC �+ Attention: Arvand Sabetihn 1550 G Tiburon Blvd. #343 Tiburon, CA 94920 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. 10/30/2018 0 Section 16. Integrated Agreement. This Agreement constitutes the entire Agreement between the Parties and supersedes any and all prior arrangements and understandings between the Parties, and no other agreement, statement, or promise made by the Parties which is not contained in this Agreement shall be binding or valid. No modification of this Agreement shall be binding unless reduced to writing and signed by the Parties. Section 17. Amendment of Agreement. This Agreement shall remain in effect for so long as the Property is subject to inclusionary housing obligations pursuant to the Affordable Housing Requirements, unless released pursuant to Section 9. This Agreement, and any section, subsection, or covenant contained herein, may be amended only upon the written consent of the City, Marin Housing Authority, and Developer. Section 18. Transferees, Successors and Assigns. All the terms and provisions of this Agreement shall be binding upon and inure to the benefit of and be enforceable by the heirs, successors, assigns and personal representatives of the Parties hereto. No transfer, sale, or assignment of Developer's rights, interests and obligations under this Agreement to another ("Transferee") hereunder shall occur without prior written notice to City and approval by the City Manager, which approval shall not be unreasonably withheld or delayed. The City Manager shall consider and decide on any transfer, sale or assignment within seven (7) calendar days after receipt of Developer's notice thereof, provided that all necessary documents, certifications and other information is provided to enable the City Manager to determine whether the proposed Transferee can perform Developer's assigned obligations hereunder. Provided that such sale, transfer or assignment has been approved by the City Manager and that Developer's obligations hereunder are expressly assumed by Transferee, Developer shall be released from any obligations hereunder sold, assigned or transferred to the Transferee. Notwithstanding any such grant, transfer, sale, assignment or other conveyance, this Agreement shall burden the Affordable Unit Property in perpetuity unless released pursuant to Section 9. Section 19. No Joint Venture or Partnership. Nothing contained in this Agreement or any document executed pursuant to this Agreement shall be construed as creating a joint venture or partnership or association or relationship of principal and agent between Marin Housing Authority, City, and Developer. Nothing contained in this Agreement shall create or justify any claim against the Marin Housing Authority or City by any person that Developer may have employed or with whom Developer may have contracted relative to the purchase of materials, supplies or equipment, or the furnishing or the performance of any work or services with respect to the Property or the construction of the Development. The relationship of the Parties is that of governmental agencies and governed entity; furthermore, the Parties to this Agreement understand that this Agreement is in furtherance of the inherent power of City to regulate density and the use of land within the City's jurisdiction. Section 20. Applicable Law and Venue. This Agreement shall be governed by California law. Venue for any dispute arising out of this Agreement shall be Marin County. Section 21. Government Standards. In the event any standard established and maintained by any governmental agency which is necessary to give effect to this Agreement ceases to exist, and no comparable replacement is issued, the City and Marin Housing Authority shall create a replacement standard utilizing the formula and factors previously used to create the discontinued standard. 10/30/2018 10 Section 22. Authority. This Agreement has been executed and delivered by persons who are duly authorized to execute and deliver the same for and on behalf of Developer, and all actions required under Developer's organizational documents and applicable governing law for the authorization, execution, delivery, and performance of this Agreement have been duly taken. Section 23. Non -Liability of Governments Employees and Agents. No member, official, employee or agent of the City or Marin Housing Authority shall be personally liable to Developer, or Developer's successors in interest, in the event of any default or breach by the City or Marin Housing Authority, or for any amount of money which may become due to Developer or its successors or for any other obligation of City or Marin Housing Authority under this Agreement. Section 24. Survival; No Merger. All of the terms, provisions, representations, warranties and covenants of the Parties under this Agreement shall survive the close of escrow of any sale of the Affordable Unit Property and shall not be merged in any deed transferring the Affordable Unit Property. Section 25. Further Assurances. The Parties shall execute, acknowledge and deliver to the other such other documents and instruments, and take such other actions, as either shall reasonably request as may be necessary to carry out the intent of this Agreement. Section 26. Action by City and Marin Housing Authority. (a) Except as may be otherwise specifically provided herein, whenever any notice, direction, consent or request by the City is required or permitted under this Agreement, such action shall be in writing, and such action may be given, made or taken by the City Manager or by any person designated by the City Manager, without further approval by the City Council. (b) Except as may be otherwise specifically provided herein, whenever any notice, direction, consent or request by the Marin Housing Authority is required or permitted under this Agreement, such action shall be in writing, and such action may be given, made or taken by the Executive Director or by any person designated by the Executive Director, without further approval by the Board of the Marin Housing Authority. Section 27. Waivers. Any waiver by Marin Housing Authority or the City of any obligation or condition in this Agreement must be in writing. No waiver shall be implied from any delay or failure by Marin Housing Authority or the City to take action on any breach or default of Developer or to pursue any remedy allowed under this Agreement or -applicable law. Any extension of time granted to Developer 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 Marin Housing Authority or the City to any act or omission by Developer shall not be construed to be a consent to any other or subsequent act or omission or to waive the requirement for Marin Housing Authority's or the City's written consent to future waivers. Section 28. Title of Parts and Sections. Any titles of the sections or subsections of this Agreement are inserted for convenience of reference only and shall be disregarded in interpreting any part of the Agreement's provisions. Section 29. Multiple Originals; Counter. This Agreement may be executed in multiple originals, each of which is deemed to be an original, and may be signed in counterparts. 10/30/2018 Section 30. Severabilitv. 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, or if any provision of this Agreement is rendered invalid or unenforceable pursuant to any California statute which became effective after the effective date of this Agreement, the remaining portions of this Agreement shall nevertheless remain in full force and effect. Section 31. Exhibits. The following exhibits are attached to this Agreement: Exhibit A Legal Description of the Property c Exhibit B Site Plan and Location of Affordable Unit Exhibit C Affordable Sale Price Calculation 10/30/2018 Exhibit D Notice of Release of Below Market Rate Housing Agreement Signatures On Following page Y Mle-vu .� Sam.- �� (I cA 12 q4-cko l IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed as of the day and year first above written. DEVELOP R: Nh 4' 21 Gam, LLC, a California limited liability company By: ry Sabeti , Authorized Signatory MARIN HOUSING AUTHORITY: Housing Authority of the County of Marin, a public body, corporate and 1 litic, created under the Housing Autl�orit Ly1'y4 of the State of California—� �/ By Lewis A. Jordan, SIGNATURES MUST BE NOTARIZED 10/30/2018 13 CITY: City of San Rafael, a mu icipal orporation By: , City anager APPROVED AS TO FORM: By: ! Q City Attorney 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 County of �% 'n On the ja aubefore me, UIAS Sblo a Notary Public, personally appeared a , 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 PENAL F PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. n // WITNESS m ha TTf Signature: Name: (Typed or Printed) CL/cl Commission # 2146076 4 Notary Public . California a Marin County zl -t m Tires Mar 23, 2020 s Y• (Seal) 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 MA"t 14 On �LGGVn. - 12, 241$, befor me, rr� , , Q ri (/!�Notary Public, personally appeared ��i S �0r ave, , who proved to me on the basis of satisfactory evidence to be the person(,4 whose nameV Wa,r& subscribed to the within instrument and acknowledged to me that he/she4h" executed the same in his/hegl4w r authorized capacity(ies), and that by his/ham signature(A on the instrument the person(y), 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. *My CAROL J. KAZARIANNotary Public - California Name: o ZMarin County Notary Public Commission 112243153 Comm. Expires Jun 15, 2012 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 Marin On t I S 1101 A before me, Lindsay Faye Lara, Notary Public (insert name and title of the officer) personally appeared JIM 3C 'z - who proved to me on the basis of satisfactory evidence to be the person(A) whose name(g)(i /are subscribed to the within instrument and acknowledged to me that&she/they executed the same in (�her/their authorized capacit r�W, and that bydDher/their signature(4 on the instrument the personX,, or the entity upon behalf of which the person(p) 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. Signature LINDSAY FAYE LANA COMM. #2182818 z Z Notary Public cCounty rnia o (Seal) Comm, Wes Feb. 10 2021+ EXHIRT A The land referred to is situated in the County of Marin, City of San Rafael, State of California, and is described as follows: PARCEL ONE: Beginning at a point on the Easterly line of Ida Street distant 56 feet Southerly from the Southerly line of Fourth Street; thence Easterly at right angles to said Ida Street 645/10 feet; thence at right angles Southerly 56 feet; thence at right angles Westerly 64-5/10 feet to the said Easterly line of Ada Street; thence Northerly along said line 56 feet to the point of beginning. Being the most Westerly one half of Lot 2 in Block 4 as per Map of the Townsite of the Town of San Rafael, filed in the Office of the County Recorder of Marin County on October 14, 1873 and being the same Parcel of land described in and conveyed by that certain Deed from Mary McElnay as first party, Antonio Arbini as second party, dated April 8, 1895 and recorded in Book 35 of Deeds, at Page 66, Marin County Records. PARCEL TWO: Lot 3 in Block 4 as per Map of the Townsite of the Town of San Rafael, filed in the Office of the County Recorder of Marin County on October 14, 1873, and more particularly described as follows: Beginning at a point on the Easterly line of Ida Street which point is distant 112 feet, Southerly from the South line of Fourth Street, running thence from said point of beginning Southerly along the East line of Ida Street, 56 feet to a stake, Thence Easterly parallel with Fourth Street 132 feet to a fence, thence Northerly along the fence 56 feet to a stake, thence Westerly parallel with Fourth Street 132 feet to the place of beginning. APN: 011-232-10 ¢roar mm H LOT & BUILD DATA OMIT B DRu� D TNG INDEX PROJECT ADDRESS: 21 'G' STREET. SITE PLAN & TITLE SHEET SAN RAFAEL, CA ASSESSORS PARCEL NUWBER: APNI 011-232-10 ZONING DESIGNATION: HRI (HIGH DENSITY RESIDENTIAL DISTRICT) TYPE OF CONSTRUCTION: V A BUILDING OCCUPANCY. RESIDENTIAL (GROUP R3) PROJECT DESCRIPTION: 8 -UNIT RESIDENTIAL TOWNHOUSE DEVELOPUENT NUMBER OF UNITS: 8 NUMBER OF ACCESSORY BUILDINGS: NONE AUTOMATIC SPRINKLER SYSTEM: YES (DEFERRED SUBMITTAL) PARKING SPACES REQUIRED: STATE DENSITY BONUS PARKING STANDARDS DR -3 2 BEDROOM UNITS ON IDA SL = 2 PER UNIT 24 H STREET 2 X 6 UNITS = TOTAL 12 REQUIRED UTILITY PLAN 3 BEDROOM UNITS ON 'G' ST. = 2 PER UNIT (415) 456-2070 2 X 2 UNITS = TOTAL 4 0 GUEST SPACES REWIRED PROPOSED GARAGE & FIRST FLOOR PLAN FOR 'G' STREET TOTAL* 16 SPACES REQUIRED PARKING SPACES PROVIDED: 2 PER UNIT PROVIDED X 8 UNITS =16 PROVIDED TAHOMA, CA 96142 GUEST SPACES PROVIDED = 0 PROVIDED PROPOSED 2ND FLOOR & ROOF PLAN FOR 'G' STREET TOTAL 16 SPACES PROVIDED AFFORDABLE HOUSING: 2-10 UNITS 10X= (1) REWIRED 8 UNIT PROJECT (1) PROVIDED TOTAL LOT AREA .2488 ACRES (10,836 SF)+/ - INDIVIDUAL LOT SIZES: LOT 12,064 SF, LOT 2 967 SF, LOT 3 967 SF, LOT 4 967 SF, LOT 5 967 SF, LOT 6 1,290 SF, PROPOSED SECOND FLOOR PLANS FOR IDA STREET LOT 7 1,806 SF, LOT 8 1,806 SF TOTAL LOT COVERAGE 5,653 SF (52% LOT COVERAGE) (60X ALLOWED) TOTAL BUILDING AREAS (NOT INCLUDING GARAGES): 10,538 SF CCUMON RECREADONAL AREA 732 SF BUILDING FOOTPRINT ON IDA STREEL•: 3,623.42 SF BUILDING FOOTPRINT ON 'G' STREET: 1,741 36 SF LOT COVERAGE ALLOWED: 60% TOTAL LOT COVERAGE 'C STREET & IDA STREET = 5,653SF 5,653SF - 10,B36SF TOTAL LOT AREA =.52 OR 52% 15' FRONT YARD SET BACK ON 'G' STREET=B4OSF 50% LANDSCAPING = 420SF REQUIRED 312 SF LANDSCAPING PROVIDED (20' FRONT YARD) 15' FRONT YARD SET BACK ON IDA STREET=1,6805E 50% LANDSCAPING = 840SF REOURED 872 SF LANDSCAPING PROVIDED (20' FRONT YARD) NUMBER OF STORIES ON 'G' STREET: 3 NUMBER OF STORIES ON IDA STREET: 3 BUILDING HEIGHT ON 'G' STREET: 31'-10' (36' ALLOWED) AVERAGE BUILDING HEIGHT ON IDA STREET: 33'-4' (36' ALLOWED) NOTE: TENTATIVE MAP APPLICATION AND FEES SHALL BE SUBMITTED AFTER THE DESIGN REVIEW BOARD HEARING. SUBDIYSION EXCEPTION REQUEST PER SRYC SECTION 15.12.060(x) SHALL BE SUBMITTED AT RUE OF TENTATIVE MAP APPLICATION. CODE COMPLIANCE —' ALL CONSTRUCTION SHALL CONFORM WITH LOCAL JURISDICTION M BE ORDINANCES, (BUILDING AND FIRE CODE ADOPTIONS} aOVE CALIFORNIA BUILDING CODE (CBC}.VOLUMES 1&2 2010 EDITION CALIFORNIA MECHANICAL CODE (CUC): 2010 EDITION CALIFORNIA ELECTRICAL CODE (CEC): 2010 EDITION CALIFORNIA PLUMBING CODE (CPC} 2010 EDITION CALIFORNIA FIRE CODE (CFC): 2010 EDITION CALIFORNIA ENERGY STANDARD (CES): 2010 EDITION CALIFORNIA HISTORICAL BUILDING CODE(CHBC): 2010 EDITION PROJECT TEAM OWNER: DAYD & CHRISTINA RASONSKY DR -1 SITE PLAN & TITLE SHEET FAIRFAX, CA 94930 (415) 456-8872 DESIGN & C-1 EXISTING SITE MAP P.O. BOX 2668 a C-2 TENTATIVE MAP z CT CONTEXT PLAN & ELEVATIONS DR -2 EXISTING SITE PLAN AND ELEVATIONS DR -3 GRADING & DRAINAGE PLAN 24 H STREET OR -3.1 UTILITY PLAN (415) 456-2070 CONSULTANT DR -4 PROPOSED GARAGE & FIRST FLOOR PLAN FOR 'G' STREET 926 WOODSIDE Cl TAHOMA, CA 96142 DR -5 PROPOSED 2ND FLOOR & ROOF PLAN FOR 'G' STREET DR -6 PROPOSED GARAGE PLANS FOR IDA STREET DR -7 PROPOSED FIRST FLOOR PLANS FOR IDA STREET DR -8 PROPOSED SECOND FLOOR PLANS FOR IDA STREET DR -9 PROPOSED ROOF PLAN FOR IDA STREET DR -10 PROPOSED 'G' STREET ELEVATIONS DR -11 PROPOSED ELEVATIONS FOR IDA STREET DR -12 ELEVATIONS FOR IDA STREET & BUILDING SECTIONS L-1 LANDSCAPE PLAN v P-1 PARKING PLAN IDA STREET a P-2 PARKING PLAN 'C STREET PROJECT TEAM OWNER: DAYD & CHRISTINA RASONSKY �t u DR -1 0 54 SEQUOIA RD. VICINITY MAP FAIRFAX, CA 94930 (415) 456-8872 DESIGN & DEVELOPMENT:CAMICCIA CONSTRUCTION P.O. BOX 2668 SAN ANSELMO, CA 94979 (415) 479-0599 (415) 479-0699 FAX LANDSCAPE DESIGN: PEDERSEN ASSOCIATES LANDSCAPE ARCHITECTURE 24 H STREET SAN RAFAEL, CA 94901 (415) 456-2070 CONSULTANT ENGINEER. STAN RUPIPER 926 WOODSIDE Cl TAHOMA, CA 96142 (530) 525-4560 �t u DR -1 0 N VICINITY MAP 4h Sr rl a �t u DR -1 0 MR �Tl01�U100j,900B xW.0-slQ:YAiwu! $� � OR MIDjumewon iq US log x 39 cl le 311 Ali�tid i1Jl dGidl 0 I L17 �0 � � ❑ 0 h � . I N3L 01 1 .011 ca 81 e 6 =� as �itli I EEE CC i n o son w I, I I I I I ` see 1Glf�l I 6 Y Ln I IN q it� s■■ V1 ML Y ., h -� ��! �� �'• 81,0-,01 I �, } 1 0 fill m 1 � o ■ ■■ I c �� i c3j M��dlS9hOfaYd,O-61 W S=AW SAE TJU�I I 1 WLW 0 1d1(JS ,0 ,51 Cdl1 JO!! q f Q ' 100! -� SWC I 1 Y , �' o (� N'r7N hkU fl'1plU0f 3 q 9 < 30 r�o t� on aoa - q, 3 ��onol gg oras 1a1• s� a� i o �jjx•�e{ yh H � It■■■ S ■■■ ■ tl Cin y�i� I ��•111 n ® .! �3jegxQ�1q ���@ Ica so ma 7 z EXHIBIT C Affordable Sales Prices 2018 Low Income Affordable Unit - 21 G Street San Rafael CA 94901 Target Income: 60% of HUD median Eligibility limit: 80% of HUD median Number of bedrooms Household size (for calculation purposes) Median income for household size (see chart below) Median income reduced to affordability target shown above Monthly income (annual income divided by 12) 33% Housing -expense -to income ratio Breakdown of monthly housing expense Property Tax (estimated @ 1.25% of sales price) Homeowners Association Dues (estimated) Mortgage Insurance (estimated at .85 basis points) Debt Service on home purchase financing (P & 1) Total Housing Expense Financing -- assuming 30 -year, fixed-rate mortgage Rate (current prevailing rate / to be updated at completion) Term (months) Loan amount Loan -to -value ratio Purchase price Downpayment @ 5% Estimated closing costs (@ 4%) Estimated cash required for downpayment plus closing costs Z:\New Developments\21 G Street, San Rafael\ 2BR 3 persons 106,550 63,930 5,330 1,760 231 250 149 1,130 1,760 5.00% 360 210,500 95% 2211,60701 1 11,100 8,900 20,000 10/29/2018 FY 2018 Marin County HUD Median Family Income effective 41112018 HH Size Median 60% 1 person $82,900 $49,740 2 persons $94,700 $56,820 3 persons $106,550 $63,930 4 persons $118,400 $71,040 10/29/2018 E HIBIT D No Fee per GC 27383 Recording Requested by: Housing Authority of the County of Marin When Recorded Return to: Housing Authority of the County of Marin Attention: BMR Department 4020 Civic Center Drive San Rafael, CA 94903 (SPACE ABOVE THIS LINE FOR RECORDER'S USE) RELEASE OF BELOW MARKET RATE HOUSING AGREEMENT AND DECLARATION OF RESTRICTIVE COVENANTS This Release of Below Market Rate Housing Agreement and Declaration of Restrictive Covenants (the "Release") is made as of the _ day of , 20_, by the City of San Rafael, a municipal corporation (the "City"), the HOUSING AUTHORITY OF THE COUNTY OF MARIN, a public body, corporate and politic, created under the Housing Authority Law of the State of California ("Marin Housing Authority"), and a ("Developer"). 1. This Release relates to that certain Below Market Rate Housing Agreement and Declaration of Restrictive Covenants by and between the City, the Developer, and Marin Housing Authority dated , and recorded in the Official Records of the County of Marin (the "Official Records") on as Document No. (the "Housing Agreement"). 2. Developer has performed its obligations with respect to the real property described in Exhibit A, attached hereto and incorporated herein, as required by the Housing Agreement. 3. The City and Marin Housing Authority, as the entities entitled to enforce the Housing Agreement, and the Developer hereby release the real property described in Exhibit A from the encumbrance of the Housing Agreement. 4. This Release may be signed in multiple counterparts, which, when signed by all parties, shall constitute a binding agreement. IN WITNESS WHEREOF, the City, the Developer, and Marin Housing Authority have executed this Release as of the day first above written. DEVELOPER: CITY: 21 G Street, LLC, a California limited liability City of San Rafael, a municipal corporation company By: City Manager At Arvand Sabetian, Authorized Signatory MARIN HOUSING AUTHORITY: APPROVED AS TO FORM: Housing Authority of the County of Marin, a By: public body, corporate and politic, created under City Attorney the Housing Authority Law of the State of California By: Lewis A. Jordan, Executive Director SIGNATURES MUST BE NOTARIZED January 23, 2019 Lindsay Lara City Clerk City of San Rafael 1400 Fifth Avenue San Rafael, CA 94901 Hi Lindsay, N"Rt.N HOUSING Making Housing More Affordable 4020 Civic Center Drive San Rafael, CA 94903-4173 Attached please find the recorded BMR agreement for 21 G St. This is the copy for your file. Please note that Caron Parker is the planner on this project. Sincerely, Stephanie Lovette 415 446-7051 slovette@marinhousing.org N. rtJ" ti a'6ft WWL t -UAr Main (415/491-2525 (FAX) 415/472-2186 (TDD) 1-800-735-2929 www.marinhousing.org DECE L= DEC 17 2018 9 COMMUNITl DEVo LOPPttAENT EL AITMENT December 12, 2018 Caron Jo Parker Community Development Department City of San Rafael 1400 Fifth Avenue San Rafael, CA 94901 RE: 21 G Street Dear Caron, MAR60t,rN HOUSING Making Housing More Affordable 4020 Civic Center Drive San Rafael, CA 94903-4173 Enclosed please find one original and two duplicate original BMR agreements. The document requires the City Manager's signature and an approval by the City Attorney. Please deliver the documents to the City Clerk and she can take care of getting the notarized signature. The Clerk should also add the date on Page one. The date is usually the date that the City Council authorized the City Manager to sign the agreement. However, it can also be the date that the City Manager signed the document. Please return one original and one duplicate original to Marin Housing. We will arrange to have the document recorded. The recorded document will be returned to the City Clerk by the County Recorders Office. Thank you and have a wonderful holiday. Sincerely, Stephanie Lovette 415 446-7051 slovette @ marinhousing.org Main (415/491-2525 (FAX) 415/472-2186 (TDD) 1-800-735-2929 www.marinhousing.org CONTRACT ROUTING FORM INSTRUCTIONS: Use this cover sheet to circulate all contracts for review and approval in the order shown below. TO BE COMPLETED BY INITIATING DEPARTMENT PROJECT MANAGER: Contracting Department: Community Development Project Manager: Caron Parker Extension: 3094 Contractor Name: Marin Housing — BMR — 21 G St - Contractor's Contact: Stephanie Lovette Contact's Email: slovette@marinhousing.org ❑ FPPC: Check if Contractor/Consultant must file Form 700 Step RESPONSIBLE DESCRIPTION COMPLETED REVIEWER DEPARTMENT a. Email PINS Introductory Notice to Contractor DATE Check/Initial 1 Project Manager n/a 10/31/2018 b. Email contract (in Word) and attachments to City Attorney c/o Laraine.Gittens@cityofsanrafael.org 2 City Attorney a. Review, revise, and comment on draft agreement 11/5/2018 and return to Project Manager n/a b. Confirm insurance requirements, create Job on Department Director PINS, send PINS insurance notice to contractor 3 Approval of final agreement form to send to Click or tap ❑ contractor to enter a Project Manager Forward three (3) originals of final agreement to da' 4 ..lick hey c Lu ❑ contractor for their signature enter a date. 5 Project Manager When necessary, contractor -signed agreement ❑ N/A agendized for City Council approval *City Council approval required for Professional Services ❑ Agreements and purchases of goods and services that exceed Or $75,000; and for Public Works Contracts that exceed $175,000 EC1213� ZOf � Date of City Council approval PRINT CONTINUE ROUTING PROCESS WITH HARD COPY 6 Project Manager Forward signed original agreements to City Attorney with printed copy of this routing form 7 City Attorney Review and approve hard copy of signed �! /y 1� agreement Review and approve insurance in PINS, and bonds -(a 8 City Attorney AI /4 �/ (for Public Works Contracts) e,VZ 9 City Manager/ Mayor Agreement executed by City Council authorized City Clerk official 10 Attest signatures, retains original agreement and forwards copies to Project Manager ' 63