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Home My WebLink AboutFile Documents.802 W Main St.0170.2018 (25).ARBKRECEPTION#: 652854, R: $43.00, D: $0.00 DOC CODE: DEED RESTRICT Pg 1 of 7,12/21/2018 at 11:02:36 AM Janice K. Vos Caudill, Pitkin County, CO TO BE RECORDED AND UPON RECORDATION RETURN TO: Dee Wisor, Esq. Butler Snow, LLP 1801 California Street Denver, Colorado 80202 DEED RESTRICTION AGREEMENT THIS DEED RESTRICTION AGREEMENT (this "Agreement") is made and entered into as of December 20, 2018, by the CITY OF ASPEN, COLORADO, whose address is 130 South Galena Street, Aspen, Colorado 81611 ("Owner"), for the benefit of and enforceable by the ASPEN/PITKIN COUNTY HOUSING AUTHORITY ("APCHA"), a duly constituted multi-jurisdictional Housing Authority established pursuant to the FIFTH AMENDED AND RESTATED INTERGOVERNMENTAL AGREEMENT by and between the City of Aspen, Colorado and the Board of County Commissioners of Pitkin County, Colorado dated as of December 18, 2013, and recorded on January 15, 2014 as Reception No. 607311 of the records of the Pitkin County Clerk and Recorder's Office, whose address is 210 East Hyman, Suite 202, Aspen, Colorado 81611 ("APCHA"). WITNESSETH WHEREAS, Owner owns the real property described in Exhibit "A" attached hereto and incorporated herein and which shall hereinafter be referred to as the "Property"; and WHEREAS, the Property has been approved for the development of affordable dwelling units as described in Exhibit "B" attached hereto and incorporated herein and which shall hereinafter be referred to as the "Units"; and WHEREAS, Owner agrees to restrict occupancy or lease of the Units to natural persons meeting the income, residency and all other qualification guidelines set forth in the Aspen/Pitkin Employee Housing Guidelines established and indexed by APCHA on an annual basis (the "Affordable Housing Guidelines"), or its substitute, as adopted by APCHA or its successor, and who fall within the ma-yimnm income and asset categories described in Exhibit "B", relating to maximum income and asset ranges established and adopted by APCHA from time to time in the Affordable Housing Guidelines; and WHEREAS, this Agreement imposes certain covenants upon the Property that restrict the occupancy of the Units to persons and their families who meet the above stated income and asset qualification restrictions; and WHEREAS, by this Agreement, Owner restricts the Property against use and occupancy inconsistent with this Agreement; and WHEREAS, this document supersedes any previous deed restriction agreement for occupancy, lease or sale of the Property and the Units. NOW, THEREFORE, for value received, the receipt and sufficiency of which are hereby acknowledged, Owner hereby represents, covenants and agrees as follows: The occupancy or lease of the Units shall henceforth be restricted to natural persons and their families who meet the income, residency and all other qualifications set forth in the Affordable Housing Guidelines and who fall within the maximum income and asset categories described in Exhibit "B". 2. Written verification of qualification to reside in any Unit and thus satisfying the income and asset category requirements described in Exhibit "B" shall be completed and filed with APCHA prior to occupancy or lease of any Unit, as applicable, and such verification must be acceptable to APCHA. 3. The Units shall be rented in a manner consistent with all applicable housing laws, rules, regulations and policies governing nondiscrimination, including, without limitation, the rules or regulations of the U.S. Department of Housing and Urban Development. 4. The maximum rental rate for any Unit shall not exceed the rental rate established by APCHA from time to time in the Affordable Housing Guidelines for a qualified tenant's income and asset category. Rent shall be verified and approved by APCHA. 5. Lease agreements executed for occupancy of the Units shall provide for an initial rental term of not less than twelve (12) consecutive months. A signed and executed copy of the lease for each Unit shall be provided to and maintained by APCHA within ten (10) days after approval of each qualified tenant for such Unit. 6. The Units described above shall at all times remain rental units and shall not be condominiumized and shall not be sold without amendment of this agreement by Owner. 7. Each tenancy must meet the minimum occupancy requirements set forth in the Affordable Housing Guidelines. 8. The owner of each Unit and the tenant agrees to provide to APCHA upon request all information reasonably necessary to determine if there is full compliance with this Agreement. 9. In the event that APCHA has reasonable cause to believe the owner and/or tenant is violating the provisions of this Agreement, APCHA, by its authorized representative, may inspect the Property or Unit between the hours of 8:00 a.m. and 5:00 p.m., Monday through Friday, after providing the owner or tenant, as applicable, with no less than 24 hours' written notice. 10. APCHA, in the event a violation of this Agreement is discovered, shall send a notice of violation to the owner and/or tenant, as applicable, detailing the nature of the violation and allowing the owner or tenant fifteen (15) days to cure. Said notice shall state that the owner or tenant may request a quasi- judicial hearing before the APCHA Board of Directors (the "APCHA Board") or its hearing officer pursuant to the Grievance Procedures of the Affordable Housing Guidelines within fifteen (15) days to determine the merits of the alleged violation. If no hearing is requested and the violation is not cured within the fifteen (15) day period, the owner or tenant shall be considered in violation of this Agreement. If a hearing is held before the APCHA Board or hearing officer, the decision of the APCHA Board or hearing officer based on the record of such hearing shall be final for the purpose of determining if a violation has occurred and for the purpose of judicial review. In addition to the foregoing and independently thereof, the owner of a Unit is authorized to enforce any lease as provided therein and in accordance with applicable Colorado law. 11. There is hereby reserved to the parties hereto any and all remedies provided by law for breach of this Agreement or any of its terms. In the event the parties resort to litigation with respect to any or all provisions of this Agreement, the prevailing party shall be awarded damages and costs, including its reasonable attorney's fees. 12. In the event a Unit is leased not in compliance with this Agreement, any such lease shall be wholly null and void and shall confer no title whatsoever upon the purported tenant. Each and every lease of a Unit, for all purposes, shall be deemed to include and incorporate by this reference the covenants contained herein, even without reference therein to this Agreement. 13. The invalidity or unenforceability of any provision of this Agreement shall not invalidate the remaining provisions of this Agreement. 14. This Agreement shall be construed in accordance with Colorado law, and jurisdiction and venue for any legal action relating hereto shall be in Pitkin County, Colorado District Court. 15. No claim of waiver, consent or acquiescence with respect to any provision of this Agreement shall be valid against any other party hereto unless given in writing executed by the party against whom any such claim is made. 16. No modification of this Agreement shall be effective unless in writing signed by the parties hereto. 17. The owner of a Unit may, consistent with applicable laws, decline to lease a Unit to any person who has a past history of lease violations, delinquent rent payments, poor credit history, unacceptable character references, or a record of criminal conduct which demonstrates that such person may pose an undue risk of future lease violations or may pose an undue risk to existing tenants or interfere with the use and enjoyment of other tenancies. 18. The terms and provisions of this Agreement shall constitute covenants running with the Property as a burden thereon for the benefit of, and shall be specifically enforceable by, APCHA and Owner, and their respective successors and assigns, by any appropriate legal action, including, but not limited to, injunction, abatement or eviction of occupants, lessees or owners who are not in compliance with the Affordable Housing Guidelines. [Remainder of Page Intentionally Left Blank] IN WITNESS HEREOF, the parties hereto have executed this instrument on the date and year above first written. THE^F^*"3F/|sp] N^L^RA^ld Name: Steve Skadrqn ^ ^ Title: Mayor By:. ATTEST: ^7 Bv: /JtfjfM Name: Linda Maiming Title: City Clerk APPROVED AS TO FORM AND CONTENT: By: 4^* N3ale: Jim True Title: City Attorney STATE OF COLORADO ) ) ss. ) COUNTY OF PITKIN The foregoing instrument was acknowledged before me this day of , 2018 by Steve Skadron as Mayor of the City of Aspen, Colorado. WITNESS MY hand and official seal. My Commission expires:. f ^ij L-'i jjfV TARA L. NELSON Notary Public NOTARY PUBLIC 1 STATE OF COLORADO I • NOTARY ID #20014030017 1 My Commission Expires SepEembsr 25,2021 1 [Signature Page to Deed Restriction Agreement (1 of 2) (Main Street)] [TY HOUSING AUTHORITY ASPEM/PIT] By: Name: Mike Ko^gosky Title: Executive Director ) STATE OF COLORADO ) ss. ) COUNTY OF PITKIN The foregoing instrument was acknowledged before me this ^ day of .pr , 2018 by Mike Kosdrosky as Executive Director of the Aspen/Pitkin County Housing Authority. WITNESS MY hand and official seal. My Commission expires: cutu Notary Public fj (SIN0Y CHRISTENSEN NOTARY PUBLIC STATE OF COLORADO NOTARY ID# 19924009451 My Cammtetsian Expires 0?-22-2020 [Signature Page to Deed Restriction Agreement (2 of 2) (Main Street)] EXHIBIT A Lots Q, R, and S, Block 12, CITY AND TOWNSITE OF ASPEN, according to the 802 West Main Street Planned Development Final Plat recorded June 22, 2018 in Plat Book 122 at Page 28 as Reception No. 648314. COUNTY OF PITKIN, STATE OF COLORADO EXHIBIT B 802 W. Main Street, Aspen, Colorado: APCHA Category 3 APCHA Category 4 APCHA Category 1 APCHA Category 2 802 West Total Main Street 10 Units 5 Units 5 Units 1-Bedroom / 1-Bath Units 5 Units 5 Units 10 Units Total 44650787.V4