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HomeMy WebLinkAboutC-6377(C) - Notice of Affordability Restrictions on Transfer of PropertyU Commonwealth Land Title Company RECORDING REQUESTED BY T\ O AND WHEN RECORDED MAIL TO: City of Newport Beach 100 Civic Center Drive Newport Beach, California 92660 t&vZ 57 b" Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder IIIIfjI 11I1I 11I1I 11I1I 17111 11 111]Jj jjII JIj111I NO FEE *$ R 0 0 0 8 0 4 3 9 5 7$ 2015000645085 4:20 pm 12122115 232 407 R29 C34 F14 9 0.00 0.00 0.00 0.00 24.00 0.00 0.00 0.00 Exempt From Recording Fee to Government Code § 27383 NOTICE OF AFFORDABILITY RESTRICTIONS 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 that the Property be developed as an affordable rental development and that all of the units except one manager's unit be rented to and occupied by persons and households of limited income at affordable rents. Title of Document Containing Affordable Housing Restrictions: Regulatory Agreement and Declaration of Covenants and Restrictions ("Regulatory Agreement"). Parties to Regulatory Agreement: City of Newport Beach, a California municipal corporation and charter city ("City"), and Newport Veterans Housing, LP, a California limited partnership ("Owner"). The Regulatory Agreement is recorded concurrently with this Notice, in the official records of Orange County. Legal Description of Property: See Exhibit "A" attached hereto and incorporated herein by this reference. Location of Property: 6001 Coast Boulevard, in the City of Newport Beach, County of Orange, California 92663. Assessor's Parcel Number of Property: 045-114-15. 88VO36753-0123 2765748.6 a12/16/15 Page 1 of 6 RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: City of Newport Beach 100 Civic Center Drive Newport Beach, California 92660 Attn: Citv Manaeer Exempt From Recording Fee Pursuant to Government Code § 27383 NOTICE OF AFFORDABILITY RESTRICTIONS 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 that the Property be developed as an affordable rental development and that all of the units except one manager's unit be rented to and occupied by persons and households of limited income at affordable rents. Title of Document Containing Affordable Housing Restrictions: Regulatory Agreement and Declaration of Covenants and Restrictions ("Regulatory Agreement"). Parties to Regulatory Agreement: City of Newport Beach, a California municipal corporation and charter city ("City"), and Newport Veterans Housing, LP, a California limited partnership ("Owner"). The Regulatory Agreement is recorded concurrently with this Notice, in the official records of Orange County. Legal Description of Property: See Exhibit "A" attached hereto and incorporated herein by this reference. Location of Property: 6001 Coast Boulevard, in the City of Newport Beach, County of Orange, California 92663. Assessor's Parcel Number of Property: 045-114-15. 882/036753-0123 2765748.6 x12/16/15 Page 1 of 6 Summary of Regulatory Agreement: o The Regulatory Agreement restricts rental of twelve (12) units as described in Exhibit B hereto. o The term of the Regulatory Agreement is 55 years. This Notice does not contain a full description of the details of all of the terms and conditions of the Regulatory Agreement. You will need to obtain and read the Regulatory 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 City and the Owner of the Property. [Signatures on next page] 882/636753-0123 2765748.6 a12Q6/15 Page 2 of 8 Date:,hE c \6 , 7015 ATTEST: A4 i Leilani I. Brown City Clerk APRO TO FORM: m LSI Aaron C. Harp uM MWIIC City Attorney 882/036753-0123 2765748.6 al2/16/15 "City" CITY OF NE RT BEA a California municipal c do By: Edward D. Selich Mayor Page 3 of 8 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 ) ) ss. COUNTY OF C 0.0 N Co C ) On 'DE c_ 18 2017, before me,JIIVPIF�Et�aaNf�lJLv�Y, Notary Public, personally appeared to" ow- o D• -Sk- %-C- p1 proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/aFe subscribed to the within instrument and acknowledged to me that he/shoAkoy executed the same in his/hff4"r authorized capacityoes), and that by his/her-/4heir signature(s) on the instrument the person(s) or the entity upon behalf of which the person(s) acted, executed the instrument. 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. Notary P1tbl c 882/036753-0123 2765748.6 ai2/16/15 Page 4 of 8 [SEAL] JENNIFER ANN MULVEY commission # 2045022 z d Notary Public . California i •4:` Orange County g My Comm. Expire Oct 12, 2017+ EXHIBIT G°A" LEGAL DESCRIPTION OF PROPERTY All that certain real property situated in the County of Orange, State of California, and is described as follows: Lots 11, 12 and 13 in Block 160 of River Section, Newport Beach, in the City of Newport Beach, County of Orange, State of California, as shown on a map recorded in Book 4, Page 25 of Miscellaneous Maps, in the office of the County Recorder of said County. EXCEPT therefrom Lot 11 all oil, gas, minerals and other hydrocarbon substances lying below a depth shown below but with no right of surface entry, as provided in the deeds of record Depth: 50 feet EXCEPT therefrom Lot 13 all oil, gas, minerals and other hydrocarbon substances lying below a depth shown below but with no right of surface entry, as provided in the deeds of record Depth: 50 feet EXCEPT therefrom Lot 12 all oil, gas, minerals and other hydrocarbon substances lying below a depth shown below but with no right of surface entry, as provided in the deeds of record Depth: 400 feet Assessor's Parcel Number: 045-114-15 882/036753-0123 2765748.6 al2/16/15 Page 5 of 8 EXHIBIT "B" RESTRICTED UNIT MATRIX* Size No. of 30% AMI 40% AMI 50% AMI 60% AMI Units Veteran Senior Senior Veteran Household Household Household Household Unit Unit Unit Unit One bedroom 12 6 2 3 1 *At all times one (1) unit shall be occupied by an on-site property manager that is also an Eligible Tenant. 882/036753-0123 2765748.6812/16/15 Page 6 of 8 CONSENT TO RECORDATION Newport Veterans Housing LP, a California limited partnership ("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. Dated: U-1 I � 2015 Newport Veterans Housing LP, a California limited partnership By: CDP Newport LLC, a California limited liability company Its: Administrative General Partner By: Community Development Partners, a California corporation Its: Sole Managing Member By: Eric Paine Its: CEO By: Mercy House Living Centers, a California nonprofit public benefit corporation Its: Managing General Partner By: �14 / Laynes Its: President 8821036753-0123 2765748.6 a12116/15 Page 7 of 8 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 ) ) ss. COUNTYOF Orangg ) On OP-Cefnher If dol$ , before me, Tm Winftr^ Notary Public, personally appeared Eric. Nine, proved to me on the basis of satisfactory evidence to be the person(re'J whose name(FT mare subscribed to the within instrument and acknowledged to me thatu&she/they executed the same in&/her/their authorized capacity(ie94, and that by ®i/her/their signature($) on the instrument the person(f or the entity upon behalf of which the person(?) acted, executed the instrument. 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. Notafy Public 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 ) ) ss. COUNTY OF Or4nge. ) -------------- On OCtember V3jl _, before me, Tim Winaer , Notary Public, personally appeared IFrr�ynes proved to me on the basis of satisfactory evidence to be the person(,whose narnO ®rare subscribed to the within instrument and acknowledged to me that @/she/they executed the same in 1®/her/their authorized capacity(io)-, and that by 0/her/their signatureA on the instrument the personkgS 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. �� V/>4� Notary Pubh - - 882/036753-0123 TIM tNNNiiE 2765748.6 a12/16/15 ribrrlrrlission * 2oggfte of 8 Notary PubliC • California Orange County M Comm. Expires Feb 201 GOVERNMENT CODE SECTION 27361.7 I CERTIFY UNDER PENALTY OF PERJURY THAT THE NOTARY SEAL ON THE DOCUMENT TO WHICH THIS STATEMENT IS ATTACHED READS AS FOLLOWS: NAME OF NOTARY: TIM WINGER DATE COMMISSION EXPIRES: FEB. 6, 2019 COUNTY WHERE BOND IS FILED: ORANGE COMMISSION NO.: 2099074 VENDOR NO.: NNA1 PLACE OF EXECUTION: NEWPORT BEACH DATE: 12/22/15 Commonwealth Land Title, California Chris Maziar