2010 Habitat for Humanity of the Coachella Valley, Inc. - Restrictions on TransferRECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
DOC # 2010-0414648
08/30/2010 08:00A Fee:33.00
Page 1 of 7
Recorded in Official Records
County of Riverside
Larry W. Ward
Assessor, County Clerk & Recorder
11111111111111111111111111111111111111111111111111 IN
La Quinta Redevelopment Agency S R U PAGE SIZE DA MISC LONG RFD COPY
P.O. Box 1504
La Quinta, CA 92247
Attn: RDA Secretary i City Clerk
M A L 465 426 PCOR NCOR SMF I NCHG EXAM
T: CTY I UNI 0—�o
Exempt From Recordine Fee Pursuant to Government Code t5 27383
NOTICE OF AFFORDABILITY RESTRICTIONS 030
ON TRANSFER OF PROPERTY
Important notice to owners, purchasers, tenants, lenders, brokers, escrow and
title companies, and other persons, regarding affordable housing restrictions on
the real property described in this Notice: Affordable housing restrictions have
been recorded with respect to the property described below (referred to in this
Notice as the "Property") which require owner occupancy of the Property and
restrict the price and terms at which the Property may be sold. These restrictions
may limit the sales price of the Property to an amount which is less than the fair
market value of the Property. These restrictions limit the income of persons and
households who are permitted to purchase the Property.
Title of Document Containing Affordable Housing Restrictions:
Affordable Housing Agreement and Declaration of Covenants, Conditions and
Restrictions ("Agreement").
Parties to Agreement: Habitat For Humanity of the Coachella Valley, Inc.,
a California nonprofit public benefit corporation ("Owner"), and the La Quinta
Redevelopment Agency, a public body, corporate and politic.
The Agreement is recorded concurrently with this Notice, in the Official
Records of Riverside County.
Legal Description of Property: See Exhibit "A" attached hereto and
incorporated herein by this reference.
982/015610-0046
1106784.02 a07/29/10 ' �'
Property Location: NE Corner of Calle Monterey and Avenida Alvarado.
Assessor's Parcel Numbers of Property: 774-044-011; and 774-044-012.
Summary of Agreement:
o The Agreement requires the Owner to develop the Property with two
single family detached dwelling units and to sell the units to
households whose annual income does not exceed the qualifying
limits under California law for either "lower income households" or
"very low income households" as established by HUD, and as
published periodically by HCD. The units are required to be sold at a
restricted sales price that results in the buyer paying no more than an
"affordable housing cost," as that term is defined in Health and Safety
Code Section 50052.5.
o The Agreement imposes the same income and price restrictions on all
subsequent resales of each unit during the term thereof.
o The term of the Agreement with respect to each unit is 45 years,
commencing on the date of the first sale by Owner to a qualified
buyer and terminating 45 years from said date.
This Notice does not contain a full description of the details of all of the
terms and conditions of the Agreement. You will need to obtain and read the
Agreement to fully understand the restrictions and requirements which apply to the
Property.
This Notice is being recorded and filed in compliance with Health and
Safety Code Section 33334.3(f)(3) and (4), and shall be indexed against the
Agency and the Owner of the Property.
[signatures on next page]
182/O15610-0046
1106784.02 a07/29/10 -2-
"Agency"
LA QUINTA REDEVELOPMENT
AGENCY, a public body, corporate and
pBoliti,
Date: "' a'3 , 2010 yI) A"f(�
Executive Director
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Kom ebr
882/015610-0046
1106 84,02 a07/29/10
State of California )
County of Riverside )
On S, Z3 • lo(o , before me, .Sc(SAt MAVSULS , Notary Public,
-'r (here �ins�ert'nIame and title of the officer)
personally appeared (Ho M A S P l5 if t4 0 JES c —>
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 my hand and official seal. @imam
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882/Ot5610-0046
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EXHIBIT "A"
LEGAL DESCRIPTION OF PROPERTY
Real property in the City of La Quinta, County of Riverside, State of California,
described as follows:
LOTS 13 AND 14 IN BLOCK 175 OF SANTA CARMELITA AT VALE LA
QUINTA, UNIT NO. 18, AS SHOWN BY MAP ON FILE IN BOOK 19 PAGES
30 AND 31 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA;
EXCEPTING THEREFROM ONE -SIXTEENTH OF ALL COAL, OIL, GAS
AND OTHER MINERAL DEPOSITS IN SAID LAND, AS RESERVED IN
THE PATENT FROM THE STATE OF CALIFORNIA, RECORDED JULY 26,
1934 IN BOOK 182 PAGE 463 OF OFFICIAL RECORDS OF RIVERSIDE
COUNTY, CALIFORNIA.
APN: 774-044-012-3 and 774-044-011-2
882/015610-0046
1106784.02 07/29/10 -5-
CONSENT TO RECORDATION
HABITAT FOR HUMANITY OF THE COACHELLA VALLEY, INC., a
California nonprofit public benefit corporation ("Owner"), owner of the fee interest
in the real property legally described in Exhibit "A" hereto, hereby consents to the
recordation of the foregoing Notice of Affordability Restrictions on Transfer of
Property against said real property.
"Owner"
By:!-� VV
lts: Sr,;,1E 7 V1A%6.4-LW- I12¢r w„va a t�
By:
Its:
State of California
County of Riverside
On 149/9010 before me, k
n otary Public,
(here insert n. e and title of tle `fl—rle ;o
personally appeared liil'{ sL w 3 M .lZ�s
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 m hand and official seal.
Signature
882/015610-0046 _
1106784.02 a07/29110 _6
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State of California )
County of Riverside )
On 4/ %/2'DI O , before me, ,,�.� h a i�otary Public,
(here insertlname and title oflthe ofricerU
personally appeared Z uz- 0, i-k
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 my hand and official seal. comn .PHnM M >w
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182/015610-0046
1106784. 02.07/29/10 _'f_