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Res 14-09MEMORANDUM To: Terrill Pyburn, Assistant City Attorney CC: Milena Walinski, Assistant Finance Director File From: Kimberly Wynn, Executive AssistantlAgenda Coordinator Date: 412212009 Re: Corrective Warranty DeedlAmendment No. 1 to the Contract for Sale and PurchaselResolution No. 14-09 Attached please find one (1) fully executed cagy of each Amendment No. 1 to the Contract for Sale and Purchase, Corrective Warranty Deed and Resolution No. 14- 09 for the property located at 313 S. W. 3rd Avenue to be utilized for affordable housing purposes. This item was approved by Commission on the April 21, 2009 City Commission Meeting; Item I O.E. A recorded original of the Corrective Warranty Deed will be forwarded to you upon receipt from the Palm Beach County Clerk. Should you have any questions please contact me at 243-7039. KW/kw Attachment .,..._ ...._ ~ .. __ .., ~ ~T...~~ ~.l'i~~' C"l~l:~i~..k: !?f Pr~1~2.1 '~~1=NT 9 RESOLUTION NO. 14-49 A RESOLUTION OF THE CITY COMMISSION C>F THE CITI' OF DEZRAY BEACH, FLORIDA, AUTHORIZING THE CITY T© SELL TO Bl.:~~ER CERTAIN REAL PROPERTY IN PALM BEACH COUNTY, FLORIDA, AS DESCRIBED HEREIN, HEREBY INCORPORATING AND ACCEPTING THE CON`T'RACT STATING THE TERMS AND CONDITIONS FOR THE SALE AND PURCHASE BET~iIEEN THE BUYER AND THE CITY OF DEL.RAY BEACH, FLORIDA. WHEREAS, the City of Delray Beach, Florida, wishes to sell certain property located at 315 SW 3r~ Street; and WHEREAS, the Buyer hereinafter named desires to buy the property hereinafter described from the City of Delray Beach, Florida; and WHEREAS, it is in the best interest of the City of Delray Beach, Florida, to sell said property; and WHEREAS, the property was said to Buyer on August 21, 2408, however, a portion of the property was inadvertently left out of the legal description; and WHEREAS, the City hereby intends to sell the entire property located at 315 SW 3r~ Street as evidenced by the corrected legal description provided herein. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS: Section 1. That the City Corxunissian of the City of Delray Beach, Florida, as Seller, hereby agrees to sell to the Community Zand Trust, Inc., as Buyer, for the purchase price of Ten Dollars and 44j144 cents {$14.44}, said property being described as follows: See Exhibit "A" attached hereto, Section 2. That the terms and conditions captained in the contract for sale and purchase, addenda and Amendment No. 1 thereto between the City of .Delray Beach, Florida, and the Buyer as hereinabove named are incorporated herein as Composite Exhibit "B" ~~ , PASSED AND ADOPTED in regular sessian an the day of t , 21109. ~.be~ ._ ATTEST: City Clerk MAYOR Res No. 14-d9 E~:FIIBIT "A" PCN 12-43-46-16-01-039-0060 Address; 315 SW 3rd Street, Delray Beach, Florida Also known as; Town of Delray S75 Ft of W135.6 Ft of Blk 39, the above being the Real Property described under Tax Certificate Number 12927 in the Tax Deed Recorded in Official Record Book 16411, Page 1718, Public Records of Palm Beach County, Florida, 3 Res Na. 14-09 1'' ~` ~- C1T~ 0~ D~~R~4~ BE~C~_ ~ ~~~~ ~ ~ ~~~~ DELRAY BEACH CITY CLERl~ 100 N'W. ist AVENEJE • z DEI.RAY BEACH, FLORIDA 33444 5611243-7000 '~ All-AmericaCity C~ 1993 ~I~la, ~ERTIFICATIC}N 1, CHEVELLE D. NUBIN, City Clerk of the Gity of Delray Beach, do hereby certify that the attached document is a true and correct copy of Resolutiion No. '14-09 is the same was passed by the Delray Beach City Commission in regular session on the 21St of April 2009. IN WITNESS WHEREOF, I have hereunto set my hand and the official seal of the City of Delray Beach, Florida, on this the 22"d day of April, 2009. .~~~a~ ~. Chevelle D. Nubin, CMC City Clerk City of Delray Beach, Florida SEAL) -ERVICE PERFORMANCE J.NTEGRTTY RESPQNSIBLE IRIN~VATIVE `TEAMWORK .+ A1t~NDMENT N0.1 TO CONTRACT FOR. SAI;E AND PURCHASE THIS AMENDMENT NO. 1 to the contract dated August 12, 2{~U8 ("Agreement"), between the CITY OF DELRAY BEACH ("Seller"), and the DELRAY _ BEACH CON[MUNITY LA~,ND TRUST' ("Buyer"), is hereby entered into this ~1 day of ' , 2{10, amends the .agreement as follows: WITIdESSETH: WHEREAS, the parties previously entered into a contract for the sale and purchase of a parcel of land in Delray Beach, Florida, and WHEREAS, the legal description was incomplete and the parties desire to reference the .correct, complete legal description. NC1W, THEREFCIRE, in consideration .of the mutual promises and covenants, the parties agree as follows» 1. The legal description. as stated in Paragraph 1 of the Agreement is amended to read as follows: 1. DESCRIPTION: (a) Legal description of the Real Property located in Palm Beach County, l~lorida: ........ ~ ... ...... f.... .. ,...... ~...... ...,. ...,.. s.... ~~ ~ .... ..~.»a .......s, ........ .,.. ~ ....... , , s r Y3CttCYt ,~"'tbf`f~ Town cif ` Ue~ray S75 feet of FYI ~~5, 6 feet ref BIk 39. the above being the Real Pro,F+erty described under Tax G'erti~cate Number.12927 in the Tax Z?eed recorded in a~cial Record Book 1 G411. Page 171$, Public Records ofPalm Beach ~'ounty. Florida. 2. All other terms and conditions of the Agreement not in conflict with this amendment shall remain in full force and effect. WITNESS (Type or Print Name) CT' ATTEST: By Chevelle Nubin, City Clerk Approved as to Form an~ Legal S ` ~~~~~~itytlAt~torney z 2 This instrument was prepared by and RETURN TO: Terrill C. Pyburrt, Esq. 2Q0 N.W. 1st Avenue Delray Beaeh, Florida 33444 CORRECT VE WARRANTY DEED THIS INDENTURE, made this day of ~~ ~ 2009, between CITY OF DELRAY BEACH, a Florida municipal corporation the County of Palm Beach, State of Florida, whose mailing address is 100 N.W. 1 S` Avenue, Delray Beach, Flarida 33444, grantar*, and the DELRAY BEACH COMMUNITY LAND TRUST, INC., whale mailing address is 14S S.W. 1Z"' Avenue, Delray Beach, Florida, 33444, grantee*. WITNESSETH that said grantar, for and in consideration of the sum of Ten and not 100ths ($10.00} Dollars, and other goad and valuable considerations to said grantor in hand paid by said grantee, the receipt whereof is hereby acknowledged, has granted, bargained and sold to the said grantee, and grantee's heirs and assigns forever, the fallowing described land, situate, lying and being in Palm Beach County, Flarida, to-wit; DESCRIPTION Town of Delray S7S Ft Of W13S.6 Ft Of Blk 39, the above being the Real Property described under Tax Certificate Number 1 Z9Z7 in the Tax Deed Recorded in Official Record Book 16411, Page 1'715, Public Records Of Palm Beach County, Florida. and said grantar does hereby fu11y warrant the title to said land and wi11 defend the same against the lawful claims of all persons whomsoever SUBJECT TO: Comprehensive land use plans, zoning, restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing on the Plat or otherwise conunon to the subdivision, public utility easements of record and taxes for the year Z00& and all subsequent years; and Z. The following conditions and restrictions which are imposed by Grantor upon Grantee: a. The Grantee agrees to acknowledge Palm Beach County's donation of the property in all of the Grantee's documents and publicity. If the property is further conveyed to a ca-operating non-profit agency, that agency also must acknowledge the Palm Beach County's donation in all documents and publicity. b. The property may only be used for attainable or workforce housing and, in the event the property is conveyed by deed or long-term ground lease, Grantee agrees to also impose a deed restriction or language in the long-term ground lease which complies with the funding program used by the Grantee, said restriction ar long-term ground leas to be recorded in the public records of Palm Beach County. c. 7n the event the property is conveyed by deed ar long-term ground lease far homeownership, the fallowing restrictions shall be included in the deed restrictions ar fang-term ground lease: 1) The homes shall be conveyed only to buyers who shall occupy and homestead them as their principal places of residence. 2) The home buyer's or lessee's annual adjustable incomes at the time of acquisition shall not exceed 150°l0 of the median area income, adjusted for family size, as determined by the most current information from the U.S. Department of Housing and Urban Development. 3) Restrictive covenants shall be imposed by the Grantee against the property or included in the recorded long-term ground lease which shall include a clause that provides that upon foreclosure by any institutional lender, transfer in lieu of foreclosure or assignment of an FHA insured mortgage to HUD, such restriction shall terminate. The covenant or long-term ground lease must provide that upon the occurrence of any of these events, the Grantee may exercise its right of first refusal to purchase the property to preserve affordability of the property or recapture the financial assistance pursuant to the provisions under 24 CFR 92.254. However, the affordability restrictions contained in this Section 3 shall be revived according to the original terms if, during the original affordability period as provided therein, the owner of record before the foreclosure ar other transfer, or any entity that includes the former owner or those with whom the former owner has or had family or business ties, obtains an ownership interest in the Property, the affordability period shall be revived according to its original terms. d. In the event the property is conveyed for rental purposes, the Grantee shall ensure that the units will be maintained attainable as required by the underlying guidelines of the funding program utilized by the Grantee. In perpetuity, 50°l0 of the 2 units must be occupied by households with annual incomes less than 80°l0 of the area median income, and whose rents must not exceed 3S°lo of the monthly income with adjustment for family size, or as outlined by the underlying guidelines of the funding program utilized by the Grantee. The owner of the rental housing must maintain the housing in compliance with all applicable state and local housing quality standards and code requirements. e. The conditions and restrictions imposed by this Deed shall constitute covenants running with the land and shall be binding upon and burden the Grantee, their successors and assigns having or hereafter acquiring any right, title or interest in or to all or any portion of the described real property. f. Reserving, however, unto Palm Beach County, its successors and assigns an undivided three-fourths {314} interest in, and title in and to an undivided three-fourths {3l4} interest in, all the phosphate, minerals, and metals that are or may begin, on, or under the said land and an undivided one-half {1!2} interest in all petroleum that is or may be in, on, or under said land. The aforementioned reservation ofphosphate, mineral, metals and petroleum rights shall not include and Palm Beach County releases any and all rights of entry and rights of exploration relating to such phosphate, mineral, metals and petroleum rights. * "Grantor" and "grantee" are used for singular or plural, as context requires. This Corrective Deed is made to correct the legal description contained in that certain Warranty Deed {the "Original Deed") dated August 21, 2008 and recorded September 8, 2008 in Official Records Book 22847, Page O 1 S3, Public Records of Palm Beach County, Florida. Documentary stamps were paid when the Original Deed was recorded. There is no additional consideration for this Corrective Warranty Deed and, therefore, no additional documentary stamps are due. IN W~'i~IESS '~4rFIEREOF, grantor has hereunto set grantor's hand and seal the day and year first above written, ATTEST: City Clerk STATE OF FLC?RIDA COUNTY OF PALM BEACH ,~~, ; The foregoing instrument was acknowledged before me this °~{, day of k ~ , 2009, by Nelson S. McDuffi y Beach, Florida, who is ono nown o me r has produ d,,.,~"~ pit,. KIti18ERI.Y M. WV[~I iden nation. `` ot~llryr P~i~a - d FIoeN~ ~ Signature of tary Public -~~tate of Florida MEMORANDUM TO: Mayor and City Commissioners FROM: Terrill Pyburn, Assistant City Attorney THROUGH: City Attorney DATE: Apri13, 2009 SUBJECT: AGENDA ITEM 10.E. -REGULAR COMMISSION MEETING OF APRIL 21.2009 RESOLUTION NO. 14-09/TRANSFER OF PROPERTY LOCATED AT 315 S.W. 3RD STREET TO THE COMMUNITY LAND TRUST ITEM BEFORE COMMISSION Resolution 14-09. BACKGROUND The property located at 315 SW 3rd Street was transferred to the CLT on August 21, 2008, however, the back 25 feet of the property was inadvertently left out of the legal description as referenced in the Purchase and Sale Agreement and the corresponding Resolution 27-08. Attached please find a Corrective Warranty Deed as well as Resolution 14-09, which confirms the City's intent to transfer the entire property referenced above to the Delray Beach Community Land Trust, Inc. for affordable housing purposes. Also attached please find Amendment No. 1 to the Contract for Sale and Purchase of the above-referenced property, which provides for a complete legal description of the entire property. RECOMMENDATION The City Attorney's Office recommends City Commission approval. RESOLUTTC7N NC7. 1.409 A RESOLUTION OF THB QTY CX?MMISSION OF ']~. QTY OF DET.RAY BEACI~ FLORIDA, Atl7:EIC)RTZING `I",E~ CiTY TO SELL TO BLl'i'ER CERTAIN REAL PROPERTY TN PALM BEACH O©UI'+]`I1; FLORIDA, AS DESCRIBED HEREIN, HEREBY TNC(JRPORATTNG ~ ACC:~PT71VG THE 0~1~~I`RACT STATING THE TERMS AND CONDTTIOI~~S FOR 'I~ SAZE A,ND PLJRCI-iASE BE'I'C~EEN THE BLp~ER .AND 'III QTY OF DET.ItAY BE.AQ~, FLORIDA. ~J1~EREAS, the Qty of Delray Beach, Florida, wishes to sell certain property located at 315 S1X~ 3~ Street; and V~~I~REAS, the Buyer hereinafter named desitees to buy` the property hereinafter described from the Catycrf DelrayBeach, Florida; and ~7HEREAS, it is in the best interest of the Cary, of DelrayBeach, Florida, to self said progeny; and '~~I~REAS, the property was sold ~ Buyer on Aaagust 21, 2008, however, a portion of the. property. was inadvertently ]ef t out of the legal description;, and ~~I~EREAS, the Cty hereby intends w sell the entire progeny located at 315 SVt~' 3~ Street as evidenced by the corrected legal description provided h~ NO`S, 'I~REFORE, BE IT ORDAII'~ED BY 'I~ CITY OD1~~IlI~SSION OF 'I3-iE Q'T'Y OF i3EZRAY BEAQ3, FLORIDA, AS FOI..LC~~S; ~ 1. 'That the Cary Commission of the Cary of IW~e:lray Beach, Florida, as Seller, hereby agrees tc> sell to the Community Land Trust, Inc., as Buyer, for the puztliase price of Ten Dollar acrd OOf 100 cents ($10.t~t}), said property being described as followsc See Exhibit "A'" aaached hereto. S~rtian,~. That the terms and conditions contained in the contract for.sale and pur<-l~ase, addenda and Amendment No. 1 thereto between theC.aty of Delray Beach, Florida, and. the. Buyer as hereinabove named are incorporated herein as CAmposite Exhibit "B". PASSED ~N[3 ADOPTED in regular session on the day of , 2009. ATTEST IvIAYC)R CityClerk E~-iIBIT "A" PQ`di 22-43-46-16-01-039-0060 ~?-cidress; 315 SW 3~ Street, DelrayBeach, Florida Also known as: Town of Delray 575 Ft of X135.6 Ft of Blk 39, the above being the Beal Prc~Perty described under Tax certificate Number 1297 in the Tai Deed Recorded in C7fficial Record Book 16412, Page 1718,_ Public Records of Palm Beach County, Flozida. 2 a .._.........t...«,...o....~«...~~~~~sw~a~~wt ' GFN ~Q1f~1£tf~l331:d25 CQ~'~"OSITE E~BIT "B" ~~~~ ~i~~~~ i~ eb ~~ P81~a Heach Gounty. Florida a~}ra~ran R. ~ackF CLER]t ~ C.dl'tPtRGW...ER caNTRACT FOR. sALE Arm ~~ PAR?ZEST CITY aF D$LRAY SEA.CH, a Florida municipal Corporation, 100 N.W. I" Auenue, Delray Beach, FL 33449 tPhane: 561-~43-7000?, t"Seller"), and the DELRAY BEAM COt~dTfr7T'TY .LAND TR.VST, INC; , { "8~yer") . 145 S . W. ~.2n~ Avenue, Slelxay Beach, Florida 334.49 {Phone: 861-243-7500}, hereby agree that the Seller shall sell and Buyer shall buy the following described Real.Property acid Personal Property {collectively 11Pr~e~ty"~ upon the following terms and conditions, .which INCLUI}£ the Standards for Real Estate Traixsactirons {"Standard{s}"} on the reverse side hereof or attached hereto and riders and any addenda to this Contract for sale and Purchase {Contract"}. I. DESCRIPTION: {a} Legal description of the Real Property located in Palm Beach .County, Florida: Beginning at a point in the Southwest corner of Bloek 39 of the City of .Delray Beach {ft~rmerly Lintanl, Florida, as per plat thereof on file in the office of the C1exk of the Circuit Court in aril for Pa,Zm .Beach County, Florida, recorded zn Plat Bocak Z, Page 3,. go Northerly along the .West boundary of said tsZtrck a distance of 54 feet; ttzence go Easterly along a Zix~e praraZleZ to the South boun~iar,~' line of said ,block a distance o,E Z35.6 feet; thence go Southerly along a line parallel trs the West boundary of said bZr~ck a distance of 5l1 feet; thence go Westerly along the South boundary Z.izze of said block a distance of 23.5.6 feet, more or Less, to the point of beginning, aJk/a 3Z5 S. W. 3"' Street, Delray Beach, P'Zorida. Property Control No. 12-43-46-16-Oi-439»{3060 {b} street address., city, zip, of the Property isc 315 Southwest 3~ Street, Delray Beach, Florida 33444 II. PURC!~iASE PRZCh $ 10.00 III. TIME P`aR ACCEPTANCEt EFFECTIVE DATEf FA.CSTMILEr If this offer is mot executed by and delivered to all parties aR FACT OF EXEC:UTIC?N communicated in writing between the parties on or }aefore August zl, 2008, the deposit{s} will, at Buyer's option, be returned and this offer withdrawn. The date of Contract {"Effective Tate"} will be the date when the last one of the Buyer and the Seller has signed this offer. A facsimile copy of this Contract and any signatures thereon shall be considered fox all purposes as originals. IY. TITLE 8"V'TDEl7CE: Within thirty {30} days from the Effective Date of this Contract, tCHECK aNLY ONE)r Seller shall, at Seller's expense, deliver to Buyer or buyer's attorney; OR x Buyer shall at Foyer's e3cgense obtain {CtdECK ONLY QNE~: abstract of Cit1e or X title insurance commitment {with legible copies of instruments listed as exceptions attached thereto3 and, after closing, an owner's policy o.f title insurance. v. GLOSINO D3-TEr Thin transaction shall be closed and the deed and other closing papers delivered within one hundred twenty t124} calendar days fallowing the execution of this Contract, unless modified by other provisions of Contract. 1 YZ. RSSTRZCTZONSt EA38~SE8'1'Sr LIbSZTATZOWS: Buyer shall take title subject to; comprehensive land use plans, zoning,, restrictions, prohibitions and athex requirements imposed by governmental authority; restrictions and matters appearing on the plat ax otherwise Gammon to the subdivision; public utility easements of record {easements are to be located so~itiguous to Real Property 13.nes and ntst more than 10 feet in width as to the rear ar front lines and ?-1/~ feet in width as to the side lines, ual.ess otherwise stated herein); taxes for year of closing and subsequent years; assumed mortgages and purchase mancy mortgages, if any {if additional. items, see addendum}; provided that there e~tists a.t closing no arialation of the foregoing. YZS. CCCtTPANCY: Seller warrants there are na parties in occupancy other than Se11er; Seller shall deliver occupancy .of Property to Suyer at time of closing subject as Paragraph XI E. YIxI. TYPEWRTTTSN OR HANDr~+IRZT2'7s'N k'Rt}vZBI02dSs Typewritten or handwritten provisions, riders and addenda shall control all printed provisions of this Contract in conflict with them. I%. ,ASSZGNASILZTY: {CHECK.ONl.X {3t~} : Buyer ~l} may assign and thex`eby be released from any further liability under this Contract; _may assign but not be released from liability under this Contract; or X may not assign this Contrast. x. DZSC~osu~s: {a} Radon is a naturally .occurring radioactive gas that, when accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time, Levels of radon that exceed federal and state guidelines have been found in buildings i.n .Florida. Additional information regarding Madan ar Radom testing may be obtained from your County Public Health unit. jb} Buyer may have determined the energy efficiency rating of the residential building, if any is located are the Real Property, XI. BPSCIAL CLAU'SESp A17DE8IDA; If additional terms ors to be provided, attach addendum and CHEC2{ xERE X . C LRAM BRACH Y BEACkI TY LA~tD TRUST, SNC. ~ _~~ ~ Date ~ '., Date Print Name: ~ ~fl., ~ ~~ ~ S Pri t me: © 1.....-" Tax 1D No. Tax ID Na, _~ Pi ~/ ~1 ~ tX.~~~.. ' ~~V Aprprav8d as to corm anti }g~a1 SU~f C18riCy: By. _r...r"~"a` ~~- Clty Att~rrtey ~ ~j' fuC1 2 AIiDENDIIM "1'0 CONTRACT I'OR SALR AND PURGl~ASE SELLER: CITX {~~ DEI.RAY HEAC73, a Florida municipal corporation BUYER: THE gSLRAY BbACK CC3MNR1RTT33t LAtdD TRUST, INC. PROPERTY ADI?REBS: 315 SW 3rd Street, .Delray Beach, Florida 33444 SCI. SPECIAL CLAUIa&S~ ADDENDA (Continued}: A. FC}REICN INVESTMENT IN REAL PROPERTY TAX ACT ~"FIRpT,A'r} : The parties shall comply with the provisions o~ Internal Revenue Cade Sedtion 1445 and applicable Treasury Regulations issued thereunder. Zf the Seller is a U.S. person for Internal Revenue Cede Section 1445 purposes, then .an demand of the Buyer and prior to closing the Seller shall grovide the Buyer with $ certificate of non- foreign statue in the manner provided in 'Treasury Regulations Section 1.1445-2. If the Seller provides the Buyer with such certificate, and if the Huyer is otherwise permitted to. rely on such certificate under those Regulations, the gayer shall not withhold under Internal Revenue Code Section 1445. If the Seller is a 'foreign person" as defined by the Internal Revenue Cade, the Buyer generally is required to withhold Ifl$ of. the gross sales price from the Seller at closing and to pay the withheld amount over to the Internal Revenue Service {IRS) unless an applicable exem~rtion from withholding or a limitati.an on the amount to be withheld is available. Ta the extent that the cash. to be paid over to the Seller at closing is insufficient to cover the Buyer's withholding obligation, the Seller shall provide to the Huyer at closing cash equal to such excess for purposes of making such withholding payment. If the Seller's federal income tau on the gain is less than the ,applicable withholding amount, the Seller map make advance apglic.ation to the IRS for reduced withholding and, if granted, the Huyer shall withhold only the autharisec3 reduced amount. If such rul%ng has not been received by closing, the parties at closing shall enter into an ea crow agreement reasonably eatisfactary to the Buyer and Seller pending receipt of the ruling, provided that at closing the Seller shall have the obligation to provide to the escrow agent from the closing proceeds (or from the Seller's other resources if necessary) cash equal to the ma~cimum required withholding, with any excess withholding being refundable to the Seller upon receipt of a favorable ruling from the IRS. Buyer and Seller understand that the IRS requires `the Buyer and the Seller to have a U.S. federal taxpayer identification number and. to supply that number on the foregoing farms. A foreign individual may acquire an Internatia?ial Taxpayer Identification 'Number far this purpose. Since it ma3r take several weeks ta~receive the number after application and the S&S Will not process these farms without the actual number, a party lacking a TIN i$ advised to apply immediately. 8. The Sayer shall have sixty t50) calendar days within which to conduct any and all feasibility studies and' detez~sti.nations relative to the suitability for the acquisition of the subject property by the Buyer and the Huyer reserves the express right to terminate this Contract at any time during said period for any reason or no reason, in e~uyer'a. solo discretion, whereupon .Buyer shall receive a full refund of all deposit monies paid hereunder. Buyer shall be granted reasonable access to the premises to conduct such feasibility studies and determir~atit~ns, including enviroruaental assays, care drilling, surveys, soil sampling and other such testing. C. This Contract is expressly c~sntingent and conditioned upon the approval of the Same by the City Commi.$sion cif the ~i.ty of Delray Beach. D. The parties represent and warrant. that there is no broker ir~valwed in this transaction to whom a co~rnnission would be due. 4 STANDARDS FOR R$AL gST'AT}~ fiRANSACI'xC}I~TS >L, EYTP OP TI!CZ,LI (1}An abatract of title prepared or brought currant 8y a reputable and existing abstract firm of not existing then certified as correct by an existing firrol purporting to be an accurate ay»apaia of the inatzuments affecting title to Reai Pragerty racardedsn the public reco~de of the aunty wherein Resl Property is 1'ocatsd, throltgh Effective Bata, It aha11 conmanca with the earliest public rscards, os such later data as may he cuatamary in the county. [ipon.elosing of=this Contract, the abatract shall beconts the propcrty of Buyer, subject to the right of retention thereof by first awztgagae until fully paid. {?1 tit a itiadrance commitment issued by a Florids licensed title in~Jtircr agreeing to Issue to Buyer; vpon recording of the 3"ead to Suysr, en owner's policy of title insurance in the .amount of the purehaea prise, insuring Buysr'a title to Real Property, subject only to liana, eneuaiatrantea, exceptions or qualification provided in this Cantraet, and those which atiall.be discharged by Seiler at or befara closing. Sellar.ahell convey a aarketable title subject only. to liana, encumbrances, exceptions or qualificatiana set forth in ,Contract, Marketable title shall be dr~termined accazding to applicable Title Standards edogted by authority of The Flpzld's Bar and in accozdannee with taw, Sayer shall have 30 days, if abatract, or 3 days, if title coam:itment, from data of receiving evidaYice of title to .examine it, if title is found defective, Boyar shall, xithin 3 days thereafter, notify SeZisz in writing specifying defect(sl. Zf 'the defect;s} render title uns:arketabler Seller will have 80 days fray receipt of notice to remove the dafectisl, failing which Buyer shall, within five {S} days aftas axpira.tiba of the thirty tag} ~y Faziod, deliver written natica to Ssl.lax either: {1} azte»dinq the time for a zaeaanabia period not to exceed 120 days xiXJtin which Ssllar aha31 uas diligent effort to remove the defectas or {2}zequastinq d refund .af depoait(s~ paid which shall immediately~be teturnad to Suysr. If Sayer fails to as notify Ssllar, Suysr shall ba deen+ed to 'have accepted the title as it than is. Seller shall, if title fa found unmarketable, use diligent effort to correct 'dcfectls} in title within the.time'provided therefor, If Seller is unable to timely carzect 'tne defects, Suyex sha21 either waive the defects, os .receive a refund of depositta}, thereby releasing avyez and Sallee from all further obligaCion under this Contract. , C. ~tltbt: Buyer, at Boyar's expense, within time allowed to deliver evid~nce•of title. may have Racal, Property surveyed and eaztified by a registered Florida surveyor, If the survey discloses encroac}uoanta on the Real Prtperty or t}iat i:opzovemants iacnted tharean sncraach on setback lines, eaaewents, 2nrids of ethers, ar violate any restrictions, Contract covenants or applicable governmental zequlatian, the lama aha1L canatttute a title defect. r.. LilatC: Ssllar shall furnish to Buyer at time of Glosigg an affidavit atteatinq to the absence, anises othar+riae provided for herein, of any financing atateawnta, clnima of lien or.potentinl lien+sra known to Seller and further attesting that there Nava bean na improvements ar repairs ta.kroperty for 90 daps iaa:ediataly preceding date of closing. If Property fins 'been improved, or repeized within that time, Ss11sr shall dallvas relaaaea .or waiverr of mechanics' liana executed by ail~ganeral contractaza, subcontractara, suppliers, and matszialmsn in addition to Sellar`a lien affidavit setting forth the naa+aa o! all such general contractors, subcontractpra, suppliers apd materialmsn and further affirming that all chargaa.for imprave»enta oz repairs which could serve as a basis tar n meohanie'a lien or a claim for damages have Been paid or wi12 be paid at closing of this Contract. S. ?IJ1Ci 4!' CLOSE: Closing aha13 ba hold in thk 'cal:»ty whe>re Rawl PrQparty is located, at the office of the attorney bt other allpsing agent designated by cellar, Z. Shat T» Gamputing time periods of leas >:han six t6} days, Saturdays, Sundays and state or national legal holidays shall be excluded, Any time periods provided fpr herein which shall end on Saturday; Sunday or legal holiday shall extend to 5!CD p.la, of the next business day. Tina is ag t3-s aaadnea in Chia Ca»traet. 8. 2dO1RS8S ht~ t&17Z;SS: Ssllei warrants and represents that there is ingress and egseaa to the Raal Psoparty auifieient >ror the intended uas as described in Pacagraph YI heragf, title to which is in accordance with Standard A. T. DOSS )xOR CiASSXG: &eller shall furnish dead, bill of stale, construction lien affidavit, owner's possesaioh affidavit, and corrective inatxuaurnta. Buyer aha21 furnish closing statement. iC, rJ:ttsat&YwS: DoGUmentary stamps an rice deed And recordisrg Gorrectiva inetsumanta shall be paid by Saner. Documentary •tampa and lnta»gible tax on the.puzchaae money mortgage end any martgape assumed, and recording of purchase money mortgage set Sallez, load and financing atateme»ts shall be paid by Sayer. gnleas otherwiaa provided by lpr os ridaz to thie Cantzact, Chazpea for the foilowinp, related title services: namely title or'abatzact charge, title examinstion, and settlement end closing fee, .fhall ba gaid by the perry reaponaible far furnishing the title aviderice in aeeor¢snce with Paragraph Iv, L. 1)41CiAl-R'r~al SeB: Taxes, aaaeasmaata, interest, insurance and other expenaea and revenue of Rroperty bhall be prorated thzauph day before closing. Buyer shall have the option of taking over any caiatinq paiiciae of insurance, if aaauaabla, in xhich event psemiuacs shall be pmratad, Cash rat closing shall ba incraaaed or decraaaed as aGay be required by prorationa to rte made through day ,prior to claainq oz occupancy if occupancy occurs before claaing. Advande rent and security deposits will be Credited to Buyer. £acraw deposits held by mortgages vili be credited to Seller, TaAaa shall be prasated based on the current year's tau with due allotifanCe made far maxiaa:m ailow.ebl"e diacaunt, hameataad and other exemptions. If closing occurs at a data when the current year's miiiage is not ylxcd, and Guztent year's asaesament is available, texas x111 Ae psoratpd based upon suc)r aaseaament and the prior year's millaga. If current year's. asaeaament la not available, then taxes will be prorated an the prior year's tau. T3 these are ~mpieted impravaaenta on Real •Property by January let of year o! closing, ~thich i~epraveasanta wo-re net in axiatence an January let of the prior year: then taxes shall be prorated baal~d upon the prior yaar~a millagra sad at an equlcable aaaaasaarnt to be agreed upon between she parties, failing which, request will be made to the Jaunty .Property Appraiser for an ,informal asaesament taking into consideration available exemptions. Any tact pzocation based an an estimate Shalt, at raqueat of either party, kne readjusted upon receipt of tax bill an canditian that a Statauent t# that effect is signed at claainq. N. SR>QCS711', ~18~69~SiT rxyata: Certified. Canlirmad and ratified special aaaeaament liana as of data of sloaing inat as o! tlfectioe Data) era to ba paid by Seller. 7andinp liana as o! data of elaaing shall be assumed Dy $uyer, if the Smprovement has barn aubatahtially campldea¢ as a! 8ffective Rate, anl+ parading lien shall be considered a's Certified, .confirmed or ratified and Seller shall, at tlasinp, bt.charged an amount egoal ta. the last aatimate of aasesamant faY the Lapzovemant by the public body. P. ialpC7t60JS OF e'~•i Ctt35xNC PAQ~L'fR7tc The dead shall be zacardad upon elearanGa of funds, S# an abstract of title bas bean lustsiahad, evidence of title aha22 be continued at Buyaz's axpanae to Shaw title in Buyer, withai:t any anCVabrancaa or change Yhich would zendgr Seller's titid unmarketable tram the date o£ the last evidence. All closing pivcseda shalt be held in aacrow by Sellsr'a attorney ar other mutually acCo-ptable escrow: agent fez a period of not taare khan ~ days attar clasinq date. If Saller'• title is sern)erad unmarketable: through na.fault of Boyar, Buyer Shall, within. the S day period, notify Se11or in writing 6! the defeat and Seller shall haw 30 days from data of zeteipt o! sash notifitatlan to cure the defect, It Hellas fails to timely aura the defect, all depoaitls) shall: upon written demand by Buyer end within S days after demand, be returned txr coyer and sia+ultaneoualy with guCh repayment, 8uyar shall Saturn Peraanaity and vacate Real Prapexty and zacanvey the Propasty to caller by Special warranty deed and bill b! asie. 2f Buyer laila to make Cimaly demand fez refund, Buyer shall take title as is, waiving all rights against Selipr as to any intervleninp ~Sefect except as may be axaiiabie to Buyer by virtue of warsantiea contained in the dead or 'bill of sale. Zf a portion of the pusctsase price is to be derived lroa institutional financing sir rafinanCing, requirements o! the landing institution as to place, time 01 Clay and procedures far Clasinq, and. for diaburaement of arortga.ge proceeds shall control over contrary praviaion in this tantract. Sell:r shall have t)te sight to require from the lending fnatitutian a written coma:itaw:rat that it wall not vithhoid diabusaamant o! mortgage prpceeda as a result of any title defect attrihutable to ~uyar-~rtgagar. The aacraw and clasin0 Pzotgdura required by zhie Standard may ba watvad it title agent insures adverse maskers pursuant to SeCtian 6Z7.7Bi1; E.s., as 4mendad, A. 1liTi l8Q8; Co6Tdr In any litfgatian, idtlvdinq breach, enfozceraant ar intaspratation, arising out of tbia Contrast, the prevailing party i.n sash litigatiarr which, fez the purposes of this Startdasd, shall Include Saliez, Buyer, and any brakes acting in agency or nonagensy ralatianahipa authorised by Ehapter 975, F.S., as amended, shall be entitled to'recover from the non•prevaflinq party seasonable attorney's fees, testa, and expenses. 8. ~ 0! 1rCCc 7Except aa:providad in Paragraph XS1, S=f Suyex fails to pez#orar this Contratt within the time apeci#ied tintkudinq gaymarrt a# all depoaitta}}, the deposit{a} pstd by 8uyar and deposit{s} agreed to be paid, slay be setavered and retained by .or .for the ascaunt of Seller a: agreed upon liquidated deroagea, cansideration Pot the es:cation of thin Gontrstt and in full settleerant aP any claiaa; whereupon, Buyer and Sc11er shall )ie relieved of ail obligations under Cantzaata ar Sallexr at Seller's option, may proceed in equity to en#orce Seller's rights under this Coptraet. 1#, Poz any zeason.ather tlssn failure of Sallsz to make Seller's. title marketable after diligent a##ort, seller. fails, neglects oz xetuaea to per#azm thia.Contzaci, the Buyer rosy seek specific perioxmance az elect to receive the return of Duyer's deposit{sj without thereby waiving any cation for damages zeaultlnq from Seller's breach. T. GC1~A7tGT 11?'S ~Z3~7 PitiN5COt6 1d4XRib; mD'rxCEx T{eitlker tliia Cantratt npr pny notice of it shall be re~rdsd in any public records. This Contract shall bind and inure to the benefit oP the parties end their succeaaota an internat. Nhenevez the 5;ontaxt permits, ainyular shall include plural end ane gander shall include a12. Notice given by or Co the attorney for any party aha1T be as effective as if g;van by oc to that party. V. C4HVldYAlfCg: Seller shall convlay title to heal Property by statutory warranty, tzuatee'0, personal repreaentativa'a ox guardian's deed, as appzopriefie to the.atatua o[ seller, subject only to roattera contained in Paragraphs Vs and XII and those otherxiae accepted by Buyer. Personal Property shall, at request of Buyer, be transferred 6y an absolute kill a# Gale with warranty of ti.tla, subject ogly to such matters es may be otharxiae provided for herein. V. rrrasn 7t4NT&r !lo prior or present agreements az s+eftresantatirtna s}ral! be binding upon Snyar or Seller valeaa included in this Contract. No modification or change in this Contract shall be valid or binding upon the parties unless in.writing and executed by the party ar parties intended to be bound by it. ir. 'a9lAaWtTSBSt Sallar wnr•zants that there are Ao facts knovp to relict materially affecting the value of the Property which era not readily obaezvable ny 8uyar or 'which have nQt Aeon disclosed to Buyer. A11+IBPTDMEPIT Na.1 TO CQNTRA.C'1" FOR SAS ~4~ND PURCE[~~:~E fi'HIS AMEPIIaI~fl~NT Pia. 1 to the contract dated ~agusi t2., 20t}S {.`Ags~e~xsent"), between the CITY aF >ELRA"Y BEACH ~~~~l~~l, and DRLR~-X' ~~A.Caf C{)N[MUNITY I,I? TRUST {"Buyer"), is hereby entered info this day of 2t~9, amends the agreement as foilaws: RlIT1YESSETH: WHEI2.F,AS, the pa~rtic~s previously entexrsti into a contract for the sale and psrrchase of a parcel of land iu i}olray Beads, FloFida, and '~ftIIERE,A,S, the legal descaription was iacomplete as~d the parties desire to reference the correct, complete legal dr~scrip#aon. NQW, 'PFI~REFtJRB, in consideration ,nf the ztssrtrial pranuses a:irl covenants, the parties a as follows: 1. 'I'he legal description as stated in Paragraph I of the Agreernerit is amended to read as follows. I. IIF:SCRIPTIpPi. (a) Legal descrigiion of the Real. Property located in Pawn Beach County, Florida: ..~...... ~ .......... J J ~.......FJ ..~..».... Vvr ...w y ....ss...%, . ........q «... r r r • ~ a y/F.~FiII Timm of ~eiruv S7S Feet trf X135, 6 f~v~'Blk 34, the_ ai<-oue lrein~ the Real Prar~~+erty described ~veder Tax Cer~ti~cate Number 1192 in the Tax Deed reeor~'ed in ~~`~ci'al Record 8r~ak 16111. Page l j18. Publtc.Kecvrds ofPalm Beae.~ Countv..i*'tarida. 2. All other terms and ecmditicros of the Agreement nc~t in conflict with this amendment sha11 zr~nain in ful.] foz~ and cffect. WIT1wtESS DELRAY BEACH CC~14IIkI1~Tltiii'T'7t' LAND TRUST, Ca f ? By: Print Tax .i}. o. (Type ar Print Name) CFf~ OF DF~I,1tAY BLACS, FLURIDA ATTPST: By: . Ne].san S. Mc~}u££ie, Mayor Chevelle rlubin, City C'lertc Approved as to la or~n and Legal Sufficiency: City Attorney 2 `- ~ t Tuis u~snvment was preparei, ., and RETURN TO. TerrEll C. PyBurn, Esg. 2UQ N.W. lst Avenue Delray Beseh, Florida 3344 ~~~~~~~~~~Il~fl~~~~~f~ll~l~~~~ CF1~] 2tt1(~tf30~~1..~2~ G~ Bl# .'~:~~s.s~~ F'C~ fe3153 1~ECOBDED 8918B12PJ88 15:06:43 Pa1^ Beach C.attntlr. F2art~da AllT 18.418 Doc Staa~r 8. ?0 5}isrron 8. Bock, C1~B 8 CO?1P"1'~t]I~.ER Pgs 8153 -.1551 #3pge) WARRANTY DEED T,~!?S I1Y1?EIYTURE, made this ~ day of August, 2008, between CITY OF' DELRAY BEACH, FLORTI).A, a municipal carl~oration of the State of Florida, whose mailing address is 100 N.W. 1't Avenue, Delray Beach, Florida 3344; grantor*, and the DELRAY BEACH COMMUNITY LA,1VD TRUST, INC., whose wailing address is 145 S.W. 12~' Avenue, Delray Beach, Florida, 33444, grantee*. IYIT.t1~ES.SETH that said grantor, for and in consideration of the sum of Ten and no1100ths ~$1D.t~q}Dollars, and other good and valuable cansideratiarzs to said gtor in hand paid by said grantee, the receipt whereof is hereby acknowledged, has granted, bargained and sold to the said grantee, and grantee's heirs and assigns forever, the follawii~g described land, situate, lying and being in Palm Beach County, Florida, to-wit: ~7~SCI~IPTI4N Beginning at a point in the Southwest coiner of Block ~ of the City of Delray Beach (formerly Linton), Florida, as per plat thereof on file in the office of the Clerk of the Circuit Court in and far Palm Beach County, Florida, recorded in Piat Book 1, Wage 3, go Northerly along the West boundary of said block a distance of 50 feet; thence go Easterly along a Line parallel to the South boundary line of said block a distance of 1,35.6 feet; thence ga Southerly along a line parallel to the West boundary of said block a distance of 50 feet; thence ga Westerly along the South boundary line of said block a distance of 135.5 feet, more ar Less, to the point of beginning, alkJa 315 S.W. 3`~ Street, Delray Beach, Florida ar~d said grantor does hereby fatly warrant the title to said land and will defend the same against the lawful claims of all persons whomsoever SUBJECT TO: 1. Comprehensive land use plans, zoning, restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing on the Plat ar otherwise cowman to the subdivision, public utility easements of record and taxes for the year 2008 and all subsequent years; and 2. The following conditions and restrictions which are imposed by Grantor upon Grantee: a. The Grantee agrees to acknowledge Palm Beach County's donation of the property in all of the Grantee's documents and publicity. if the property. is further conveyed to a ca-apera#ing non-pro5t agency, that agency aLsa rnust acknowledge the Palm Beach County's donation in all documents and publicity. y 4 ,~ b. The property may only be used for attainable or workforce hauling and, in the event the property is conveyed by deed or long-term ground tease,'Grantee agrees to also impose a deed restriction or language in the Long-tearm ground ]ease which complies with the fiu~ding program used by the Grantee, said restriction ar ]ong-term ground leas to be retarded in the public retards of Palm Beach County. c. In the event the property is tanveyed by deed ar long-term ground lease far homeownership, the following restrictions. shall be included in the deed restrictions ar lang~term ground lease: 1~ The Dames shall be c,~mveyed aniy to buyers who shall occupy and homestead them as their principal plates afresidente. 2} The home buyer's ar lessee's annual adjustable incomes at the time of acquisition shall not e~ceeed 150°lo of the median azea income, adjusted far family size, as determined by the most current information from the U.S. Department of Housing and Urban .Development. 3~ Restrictive cavenarrts. sha]1 be irt~pased by the GPrantee against the property ar included in the recorded long-term ground ]ease which shall include a clause that provides that upon foreclosure by any institutional lender, transfer in lieu of foretlasure or assignment of an FHA insured mortgage to H1,JD, such restriction shall terminate. The covenant or long-term ground Iease must provide that upon the occuerence of any of these events, the Grantee may exercise its right of first refusal t4 purchase the property to preserve affordability of the property or recapture the futantial assistance pursuant to the provisions under 24 Cl*R 92.254. However, the affordability restrictions contained in this Section 3 shall be revived actarding to the. ariginai terms if, during the origins] affordability period as provided therein, the owner afretard before the foreclosure ar other transfer, .ar any entity that includes the ftnmer owner ar those with whom the farmer owner h~~ or had hunily ar business ties,. abtatns an ownership inter~:st in the Property, the affordability period shall be revived actording to its original teems. d, in the event the property is conveyed. for rental purposes, the Grantee shall ensure that the units will 1?e maintained attainable as required by the underlying guidelines of the funding program utilized by tl~e Grantee. In perpetuity, SO°lo of the s units trust be occupied by households with annual incomes less than 80°!0 of the area nczedian income., and whose rents must not exceed 35°~~ of the monthly income with adjustment for family size, or as outlined by the underlying guidelines of the .funding program utilized by the Grantee. The owner of the rental housing triust maintain the housing in compliance with all. applicable state and local housing quality standards and code requixetrients. e. The conditions and restrictions itxiposed by this Deed shall constitute eovenan~s running with the land and shall ire bittdiing upon and burden the Grantee, their successors and assigns having or het~er acquiring any right, title ar interest in or to all ar any portion of the described real prape~rty. ~: Reserving, however, unto Palm Beach County, ita successors and assigns an undivided three-fourths {3!4} interest in, and title in attd to air undivided three-fow:~hs (3/4) interest in, all the phosphate, minerals, and metals 'that are or may begin, on, or under the said land and an undivided one-half {l!2} interest in all petroleum that is or maybe in, on, or under said land. The aforementioned reservation of phosphate, mineral, metals and petroleum rights shall not include and Palm Beach County releases any and all rights of entry and rights of exploration relating to such phosphate, mineral, metals and petroleum rights. * "Grantor" and "grantee"are used for singular or plural, as context requires. IlY W~'l+1LSS WHER~t)E, grantor has hereunto set grantor's hand and sea] the day and year first above written, Signed, sealed and delivered in our presence: ATTEST: City Clem CITY LRAM BEACH, FI..f3RIDA Rita Ellis, Mayor STATE OF FLORIDA COUNTY OF PALM BEACH The foregoing instrument was acknowledged before me this ~ day of August, 2008, by Rita Ellis, as Mayor of the City of Delray Beach, Florida, who is personally known to me or has produced as identiftcation. ~~ _ . 5.: c~aoECaao~'~~i1Da S' tore ofNotttry Pub is -State ofl;lorida SDUZ .S u4(' ~Mx3 ~ ~ ctr``' $N1xSVJ'Q ylP13Mt'E This instrument was prepazed by and RETURN T{~: Terrill C. Pybum, Esq. 2Qt? N. W. 1 st Avenue Delray Beach, Florida 3344 CORRECTIVE WARRANTY DEE[} .THIS INI)Er~I'tIRE, made this day of March,. 2409, between CITY 4F DELRAY BEACH, a Florida municipal corporation the County of Palm Beach, State of Florida, whose mailing address is 100 N.'Vit. l gt Avenue, Dairay Beach, Florida. 33441;, grantor*, and the DELRAY BEACH CUMI4TUNITY I.~A-ND TR>1iST, INC., whose mailing address is 145 S.W. 12~h Avenue, Delray Beach, Florida, 33444, grantee*. WITNESSETH that said grantor, for and in consideration of the sum of Tin and naf1Q€}ths {$10.00) Dollars, and other goad and valuable considerations to said grantor in hand paid by said grantee, the receipt whereof is hereby acknowledged, has granted, bargained and sa]d to the said grantee, and grantee's heirs and assigns forever,. the following described land, situate, lying and being itt Palm Beach County, Florida, to~wit. DESCRIl'TIffai~l Town of Delray X75 Ft Of W135.6 Ft Cif Blk 39, the above being the Real Property described under Tax Certificate Number 129.27 in the Tax Deed Recorded in Qfficial Retard Boak 16411, Page 1718, Public Retards Of Palm Beach County, Florida. and said grantor does hereby fully warrant the title to said land and wi11 defend the same against the lawful claims of all persons whomsoever SUBJECT TU: Comprehensive land use plans, zoning, restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing an the Plat ar otherwise common to the subdivision, public utility easements of record and taxes far the year 200$ and all subsequent years; and 2. The fallowing conditions and restrictions which are imposed by Grantor upon Grantee: a. The Grantee agrees to acknowledge Pa1nn Beach County's donation of the property in all of the Grantee's documents and publicity. If the property is further conveyed to a co-operating ncan-pzafit agency, tlta# agency alsca must acknowledge the Palm Beach County's donation in all documents and publicity. b. The property may only be used for attainable or worltforce housing and, in the event the property is conveyed by deed or long term ground lease, Grantee agrees to also impose a deed restriction or language in the long-term ground lease which complies with the funding program u;~ed by the Cirraritee, said restriction or long-term ground leas to be recorded in the public records ofPalm Beach County. c. In the. event the property is conveyed by deed ar long-term ground lease for homeownership, the following restrictions shall be included in the deed restrictions or long-term ground lease: I~ The homes shall be conveyed only to buyers who shall occupy and homestead them as their principal places of residence. 2) The home buyer's or lessee's annual adjustable incomes at the time of acquisition shall not exceed ISO% of the median area income, adjusted for family size, as determined by the most current information from the U.S. Department of Housing and Urban Development. 3) Re;~trictive covenants shall be imposed by the Ci~rantee against the property or included in the retarded long-term ground lease which shall include a clause that provides that upon foreclosure by any institutional lender, transfer in lieu of foreclosure or assignment of an 1?'HA insured mortgage to HUD, such restriction shall terminate. The covenant .or long-term ground lease must provide that upon the occurrence of any of these events, the Grantee may exercise its right of first refusal to purchase the property fo preserve affordability of the property or recapture the financial assistance pursuant to the provisions under 24 CFR 92.25. However, the affordability restrictions contained in this Section 3 shall be revived according to the original terms if, during the original affordability period as provided therein, the owner of retard before the foreclosure or other transfer, or any entity that includes the farmer owner or thane with whom the farmer owner has or had family ar business ties, obtains an ownership interest in the Property, the affordability period shall be revived according to its original terms. d. in the event the property is conveyed for rental purposes, the ~irantee shall ensure that the units will be maintained attainable as required by the underlying guidelines of the funding program utilized by the Grantee. In perpetuity, 5U°~o of the 2 units must be occupied by households with annual incomes less than 80°!0 of the area median income, and whose rents must not exceed 35°!o of the monthly income with adjustment for f~trnily size, trr as outlined by the underlying guidelines of the funding program utilized blr the Grantee, The .owner of the rental housing must maintain the housing in compliance with all applicable state and local housing quality standards anal code requirements, e. The conditions and restrictions imposed by this Deed shall constitute covenants running with the land and. shall be binding upon and burden the Grantee, their successors and assigns having. or hereafter acquiring any right, title or interest in or to all or any portion of the described real property. f. Reserving, however unto Palm Beach County, its successors and assigns an undividedthree-fourths {3l4) interest in, and title in and to an undivided tlu~e-fourths {~./4) interest in, all the phosphate, miner;~ls, aid. metals that are or may begin, on, clr under the said land and an undivided one-half { 1l2~ interest in all petroleum that is or may be in, on, or under said land. The aforementioned reservation ofphosphate, mineral,: metals and petroleum rights shall not include and Palm Beach County releases any and alt rights of entry and rights of exploration relating to such phosphate, mineral,..metals and petroleum rights. * "Grantor" and `grantee" are used f©r.singular or plural, as eentext requires. This Corrective >~eed is made tv correct the legal description contained in that certain ~Van~anty Deed (the "Original Deed"} dated August 21, 20{}8 and recorded September 8, 2008 in official Records Book 22847, Page Q 153, Public Records of Palm Beach County, Florida, Documentary stamps were paid when the Original. Deed was recorded. There iS no additional consideration for this Corrective Warranty Deed and, therefore,, no additional documentary stamps are due. IlV WIT'>*+TESS '4V131~REOF, grantor has ,hereunto set grantor's hand and seal the day and year first above written. ATTEST: City Clerk STATE OF FL{JRIDA CC}UNTY C}F PALM .BEACH CITY C3F I)F.LRA.Y BEACH, FLOI~.IDA By: e sun S. McDuf£ie, Mayor The foregoing instrument was acknowledged before me this day of , 20t}9, lay Rita Ellis, as Mayor of the City. of Delray Beach, Florida, who is personally known to me or has produced as identification. Signature of Notary Public -State of Florida 3 Z O N .~ ro 1~ 3 m a ~s u o`~ K~~ i To~u-is gEIkLPFiBth3iYY; N4T1LE tg IgAEBY GkVEfi 81s1 819 pIT W Bakkp Bradt, FN¢Ida, ~~~ trounces ke kYetYlan, Itr 810 ben Iluf k10 CRI' Bke11 MaM1578t br Eeac11 Goer rt~rlijy lmpi rust, tnc. PwP~'1 ~' ettlhed as: ' 7x011 d ttdray 876 k d W175.8 M d G 816 5A. Iha eoove bela8 the fMal i Properly de~160d unrMr Tes CwUF . tale Nwdlnr 18827 In tM T~ Oeed recmtled In 481da1 Betartl Beak 16111, Page 5719,. P11h8t Bewtle d PeIn10e>Kk (7melkt P1uW~ Bemhllion U48 d Ike Ck} Cmrmis• ~ rty ~akq 1~hue,~u~e X01 r~ ae~lonn 8+ereat" , ~t 6e r~ d - P+++& haulnD to !b told et.7im RRm, on Apra 2t, 2, di CuY th48. CoeinMeske Cbembers. 188 N.W. tat, Ayy1g~¢ Owq Beeeh HmHe.. txtY C6 BRBAAe t~7t;4tlc ws~~7t Igr17 d't4.20D8 . . Res 14-t~9 c°.t N 2 ~p O N ,~ ~u' ar 4) }i At Z a ~^ to v nanceoFer~nr ~vEgnNS~. : REAI.PIWPEp'p;!' NOTICE 1.S NEAEAY G,IYEfi'1hfS ~ Oilp aT Oegflp Beeca, ~ ~, ~!~ 6owxea as Imo, m a:,re~ Iaa'. tdto~9 ~ Tits e$wmei Imvo d ~ uarelel ~ Inal t.6 O6p p ~ [6>si, a~ ptape+tY do- sapedaa ~,,, of odr8p srs a a wr~ss a a I ~~ d a u s~ capi'I~ , ~` re~'~ni~ N~asTwa 8 ax IW1I, pie ills, W6ac RefiNda ~ PaNt BeacaCdC6X Fln~ Pesdadcn td-09 d Yi9 Cap simt natoaWrry tlce uanetet M roat pt6perlp Nwapaa0a9 tae t0t1119 an6 CafWlikdl8 famed. b b6 ~ T~ 8f / Wow ttea~a p.m. on Apra 21, 4069, el Cap H99, Caetmtssfon Clrmoben, f60 N.W. Iml, Aevele. ~ 4 Berth RmMe.. . CITpOF DfIM CayC~ pibgstelyMlT&.Sd,460a ,B6aPp8t~;: _; R6S 14-Q9 Taxm cr~'Dedra~S7S feet of ~'13`~ t~ eet „~`'~81JE 35~, the above bei~ the Real Pra,~erty described under Tax Cert%~cate .~unrber 1927 in the Tax deed recorde~in r~i,~iad ltec~rd Raa1~ IGl1, Page 1.`x'1 ~'. P~tblie Re orris ~tfPalm Bea~7t Ctiu~r~y. Florida. 2. All ether terms and conditions of the Agreement nut in conflict with this amendment shall remain in #"ull farce and effect. WITNESS ("I~pe or Print Name} ATTEST: ~e~elle Dubin, City Clerk Approved as to Fc~rux and l Sufficiency: City Attorney DELRAY BEACH C011UIYI'I'Y LAND TgUSIT, Y~i`C. •Z.. - By: Print - 'Tax .i3. CITY OF DELR~l,Y BEACH, l~"IGO~tA By: Rita Ellis,141ayoz 3 5A Boca Raton News -Weekday, March 10-11, 2009 • www.BocaNews.com NOTICE OF INTENT TO TRANSFERRFALPROPERTY j NOTICE fS HEREBY OIYEN Ih3f the Cify of Delray Beach, Florida. an- nounces Its intOntgn to Irars'e? the talrms~0f a trenstar ararthzt ;~ =~~Cy shell transfer for affordaDie housing PUrPnsas to the Delray Beach Com.'...... munity Land Tnrsi, Inc. property de- satr,N as: Town or Delray S75 tl of W105.8 n ar Blk 9g, the above being the Real Proparty described undar 7ax.Certill- cata Number 12927 !n the Tax Deed recordad in O(tiaa( Hecrord Baak lO4fi, Pago 17f0, Pudik Records of PEIm Beach Coumy Fonda. flesolutivo 14-69 or the City Cmamis- sion ~antharizing iha transfer of real Rroparty incorporating the terms and condttigns Iharaof, wilt Da cansldar~ at a public hearutg tQ tre held ei ?,{7p p.m. on March tt, 200g, at Clty Haa, Commission Chambers, 100 N.W, tat Avenue. palmy Beach, Florida CITY OF DELRAY BEACH, F1OflipA Cher~l7e 0. 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