Operating Memorandum and Amendment to First Amended and Restated Regulatory Agreement and Declaration of Restrictive Covenants 2013-0353580 � - _ �: . �, ��� � ��� �-a�������
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RECOx�[NC; �z�Qui:s'r�;D sY JUN 05, 2013 2:14 PM
AND WI-II�N Rk�CORllED MAIL "I'O: oFFicia�aecoaos
SAN DIEGO COUNTY RECORDER'S OFFICE
' Emesl J. Dronenbwg,Jc,COUNTY RECORDEfl
The PowaV 1-lousing Authority FEES: 52.00 WAYS: 2
13325 CivicCenter Drive PAGES: $
� n Poway, Cf1 92064 I I���II��III��III�IIII��I��III��III��III��II���I����III��III��III���II I�III�II�I�I� I
��J Attn:: Gxeculive Director
� "NO FEE FOR� RL'CORDING PURSUANT"f0
� GQVERNML'N'I'CODE SECTION 273�53
1
OPERA"1'1NG MEMORANDUM ANll AMENllMENT TO FIRST AMENDED AND
RESTATED REGULATORY AGREEMENT
AND DECLARATION OF RESTRICTIVE.COVENANTS
(Orange G�rdens- 12510 Oak Knull Road)
"l�his Operating Memorandum and Amendment to First Amended and Restated
Regulatory Agreement �nd �Declaration of Restrictive Covenants (this "AmendmenP') is
made and emcrcd into as of April 4, 2013,, by and between the Po�vay Housing Authority, a
public body, corporate and politic (the "Authority") and Poway Family Housing Partners,
L.P., a California limitcd partnership (thc '`Owncr').
izi�crrni..s
l. 1'he A�dhority ancl thc Owner entered� into a Pirst Amended and Restated
Regulatory ngrecmcnt and lleclaration ol Itestrictive Covenants, dated as of August 1, 201I,
and recorded in the Ofticial Records oY San Diego County on August 26, 201 I as Instrument No.
201]-0441793 (the "Regulatory Agreement"). This Agreement amends Section 2.3, Section
2.3(d) and Section 2.3(e) of the Regulatory Agreement.
2. Scction 2.3 0l' the Regulatory Agreement is hereby delcted in its entirety and
replaced �vith thc fi�llo�ving.revised Section 2.3:
Section 2.3 Allowable Rent. '
T'he Parties acknowledge that the Development was awarded and is funded in part
with an allocation of Low [ncome Flousing Tax Credits�('I'ax Credits") and in part with
Low and Modcrate Income Wousing I'unds ("LMiHF"), and that the maximum allowable
Rent (based on the. applicable Assumed }-lousehold Size) that may be charged for the
Units is the lower of(i) Rent, determined in accordancc with rules esta6lished by the
Califomia "I'ax Credit All'ocation Comniittee (`CTCAC") f�or projects receiving an
allocation 'ol'"f�x Crcdits�("C`fC:f�C' 2'ent"); and�(ii) Rent determined in accordance with
I
OGardens Up Memo and Amendmeml 3-22-13 �
I '��.Q�
� �- � 1�576
rules established by the Califomia Department of Housing.and Community Development
pursuant to Califoinia Health and Safety Code Section 50053 for projects funded with
T:MIHF ("HCD Rent"). Therefore, the maximum Rent for a Unit shall be the applicable
CTCAC Rent or HCD Rent for the Unit, whichever is lower. The applicable HCD Rent
shall be determined as follows:
(a) Extremely Low Income Rent. Subject to Section 2.4(a) below, the Rent
charged to Residents of the Extremely Low Income Units'shall not exceed one-twelfth
(1/12`") of thirty peccent (30%) of thirty percent (30%) of Median Income, adjusted for
Assumed Household Size.
(b) Very Low Income RenL Subject to Section 2.4(b) below, the Rent charged
Co'Residents of the'Very Low Income,Units shall not exceed one-twelfth (1/12`�) of'Chirty
percent (30%) of fifty percent (50%) of Median Income, adjusted for Assumed
Household Size.
(c) Lower Income Rent. Subject to Section 2:4(b) below, the Rent charged to
Residents of [he Lower 'Income Units shall not exceed one-twelfth (1/12`�) of thirty
percenf (30%) of sixty percent. (60%) of Median ,Income, adjusted for Assumed
Household Size.
(d) In calculating the allowable Rent for the Units, the following Assumed
Household Sizes shall be utilized; provided that the.Development receives an allocation
of Low [ncome Housing Tax Credits; otherwise Assumed Household Size shall be
determined pursuarit to theterms of Health and Safety Code Section 50052.5(h):
Number of Bedcooms Assumed Househol"d;Size
One 1.5 .
Two 3
Three 4.5 .
(e) No later than March 31 of each calendar'year, the Authority shall provide
the Owner with a schedule of permissible maximum Extremely Low Income Rents, Very
Low Income Rents and Lower Income Rents for the succeeding year. Under no
cucumstances may Owner raise rents above the permissible maximum rents as allowed
under the annual rent schedule piovided by Authority.
Except as provided in this Amendment, the Regulatory Agreement shall remain in full force and
effect, enforceable in accordance with ifs terms.
2
OGardens,Op.Memo and Amrndmeutl 3-22-13 �
10577
IN WITNESS WH�REOF, the Authority and Owner have executed tfiis Agreement by
duly'authorized Tepresentatives, all on the date first written above.
AUTHORITY:
THE POWAY HOUSING AUTHORITY, a public body
corporate and politic
By:
Penny ley, Exe u 've irector
OWNER: '
POWAY FAMILY HOUSING PARTNERS, L.P., a
California limited partnership
By: Foundation fot Affordable Housing V, Inc.,
a California nonprofit public benefit corporation
Its: Managing General Partner
By: /�+� Gi�. l/..�.�-
Deborrali Willard, President
By: Affirmed Housing Group, Inc., a Delaware
Corporation
Its: Administrative:General Partner
By:
es Silvenvood, Presi nt
APPROVED'AS TO FORM:
KANE B LMER & BERKMAN
By; ,
Glenn<F. Wasserman
Autliority Special Counsel
� 3
OGardens Op.Memo and Amendmentl 3-22-13
' ' 1D578
STATE OF CALIFORNIA )
)
COUNTYOFSan OiQ o )
On '�.(J r� � ''( , 2013 before me, c.lA!'U I S . �Q4 ,
Notary Publiq personally appeared P2� (2;(�,w
who
proved to nie on the basis ot satisfactory evidence to be. the person(.a� whose name(,c3 is/ace
subscribed to the within instrument and acknowledged to me that !r�/she/tlaey executed the same
in his/her/U�eir autfio�ized capacityQasfi, and that by tyis/hedtkteiP signature(�i} on the instrument
theperson(,s3, or the entity upon behalf of which the person(�acted, executed tfie inSt�ument.
I certiPy under' PEIVALTY OF PERJURY under the laws of the State of California tliat the
foregoing paragraph is true and`correct.
W I��VESS myhand and official seal. CARO1:s. �EGG.
Commission�p'1930186
�= Notary�Publia•Calllornia i
� Q San �lepo County '
Signature 2(1 (Seal)
M� Comm.Expires Apr 28.2015 r
S'I'ATE OF CALIFORNIA )
COUNTY OF S'��' D' t�-`
On �Q''�� I �-2�� , 2013 before me, �l{I�s`�C11��;�-r'�°5���
Notary Public, personally appeared �a��5 S: ,vu-� � �
who
�prove8 fo me on the�ba"sis of�saYisfactory �evidence to 6e,`the person(�) whose name(s) is/a�e
�subsci`i6ed to'tlie�viith'im�instrinnent and acknowledged to me that he/sHeftl�y executed 'tlie same
in Gis/her/ihen� authorized capacity,fics); and that by fiis/herFtHei� signature(s}on the:instrument
the:person(�s}or the entity upon 6efialfaf which tlie person(sj acted, executed:tfie instrument.
I certify under PENALTY OF PERJURY imder the laws of the State' o£ California that the
fo�egoing parag"�aph is true and co�rect.
WITNESS my hand and official seal.
� 'I
� �J�� �n��.enpn-c�tortw
Signature !� 1 � �C— (Seal) s • - COMM.#1820555 y
H� NWery Pudicl:aGtornia
W 5lWDIEGOCWNTY ''
My Comn Ezp.JAN 16.2015
� 10579
STATE OF CALIFORNIA )
)
COUNTY OF O►rGl,4%t C, )
u p �
On P�r�1 23 , 2013 beforey�m�e',"��OYYQ,(K(,�j r}c�1t�dM , ,
Notary Pub(ic, personally appeared �zK,nyYp,h Q-- �fi t� _
who
proved to nie on.the basis of satisfactory evidence to be the person(ej whose name(�} is/are
subscribed to the within insrrument and ackno:vled�eu to me tha±.t�/she!he}� ezeciited the �amz,
in lais/hedtbeir authorized capacity(+esj,;and.that by kEis/her/tl�zaignature(sj on the instrument
the�person(,�; or Che eritity uj?on�behalf of�Jfiich tlie person(sj-'acted, executed'the instrument.
1 certify under P.ENALTY OP PERJURY under the laws of tfie State of California that the
foregoing paragraph istrue and correct.
WITNESS my hand and official seal. RR�INEe.! NTtEv
ppneiqnlon 1'1902471
Nptu�i,PuWk-CNHorMa
a.npe coumr
Signature �� (Seal) M Camm. rn 8 2:
Lorraine S. Bentley
Commission /1 1902471
Orange County
Expiration Date Sept. 2, 2014
(949) 443-9101
1 � � 8 �
BXI-IIBIT A
PROPERTY DESCRIPTION
All thai certain real property located in the City of Poway, County of San Diego, State of
Califomia described as follows:
PARCfiL L•
THAT PORTION OF THE SOUTHEAST QUARTER OF THE SOUTHWEST QUARTER OF
SECTION 14, TOWNSHIP 14 SOUTH, RANGE 2 WEST, SAN BERNARDINO MERIDIAN,
IN THE COUNTY OF SAN DIEGO, STATG OF CALIFORNIA; ACCORDING TO "PHL
OFFICIAL PLAT THEnEOF,DESCRIBED AS FOLLO�VS: _
BEGINNING AT A P,OINT WHICF( IS 30.00 FEET DISTANT NORTHERLY AT RIGIIT
ANGLES FRONI THE CENTER C[NE OF THE 40.FOOT COUNT.Y ROAD TO POWAY,
�,
SAID POINT OF BEGIIVNING BEARING NORTII 70°02'46" �AST' 1005.15 FEET PRONI
"fHE POINT OF,INTERSECTION OF THE SOUTH LINE OF SA[D SECTION 14 W[THTHE
CENTER LINE OF MISSION ROAD 1-A AT STATION 378 +70:9 THEREON, AS SHOWN
ON MAPTHER1iOF ON F1LE IN 'CHE OFFICE OF COUN"rY SURVEYOR OF SA1D SAN
DIEGO COUNTY; AND BEING ALSO THE SOUTHWEST CORNER OF LAND
' DESCRIBED IN .THE DEED FR01v1 R. T. CREYfER, ET UX, TO'EVERETT DANIHLSON,
6T UX, DATED OC"i'013ER 4, 1940, RECORllEll OCTOBER 16, t940 IN BOOK 1085,
PAGE 127 OP OFFICIAL RECORDS; RiINNING TI-IENCE PARALLEL WITH AND'30.00
FEET NORTHERLY AT R[GIIT ANGLES PROM THE CENTER L[NE OP SAID POWAY
ROAD SOU'rlI 83°20'00" WGST; 133.G9 PGET; THBNCE PARALLEL WITF] THG WEST
L[A'E OF SAID DANIELSON'S.LAND, NORTH 00°43'00" EAST TO THE SOUTH LINE OF
THE NORTH 162.65,FEET(MEASURED ALONG THE EAST AND WEST LI�IES) OF TI-II;
LANI� DESCRIBED IN THE DEED 7'O KENNGTf1 C. SNYDER, ETUX, RECOFtDED JUN�
10, 1968 AS DOCUIvIENT NO. 9G618; THENCE EAST ALONG SAID SOUTI-I LINE TO
THis WEST LINE OE THE HER1ilNABOVE REFERRED 7'O DANIELSON'S LAND;
THENCL ALONG SAII� WEST L1NE SOUTH 00°43'00" WEST, 321.97 FEE"f 'CO THE
EOINT OF BEGINNING.
PARGEi,2:
TIIATPORTION OP TEIG SOU"C19LAS"f QUARTER UF 'LHL SOUTHWGS"C QUAR"I'ER UF
SECTION 14�'TOWNSHIP.14 SOUTH, RANGE 2 WEST; SAN BERNARDINO MERIDIAN,
IN THE COUNTY OF SAN DIEGO, STATE OF CAL]EORNIA, ACCOR]�ING TO "GHE
OFPICIAL PLAT THEREOF, DESCRIBED AS FOL-LOWS:
� � 10581
COMMENCING AT A P.OINT WHICH [S 30.00 FEET DI$TANT NORTHGRLY AT RIGH�I`
ANGLES FROM THE CENTER LINE OF TH� 40 FOOT COUN"CY ROAD TO POWAY,
SAID"POINT OF BEGINNING II�ARING NORTH 70°02'46""EAST 1005.15 FEET FROM
"CHE POINT OE iNTCRS�CTION OFTHE SOUTH LINE OF SAIU SEC'C[ON 14 WITH THE
CENTER L11VE OF NIISSION.ROAD 1-A A'f STATION 378 + 70:9'THEREON, AS�SHOWN
ON MAP THEREOF ON FILE IN THE OFFICE OF COUNTY SURVEY.Okt OF SAID SAN
DIEGO COUNTY, AND B�ING ALSO THE SOUI'HWES'I' CORNER OF LAND
DESCRIBED IN "I'HE DEED FROM 2. T. CREMER, GT UX, TO EVERETT DANIELSON,
ET UX; DATED OCTOSER 4, 1940, RECORDED OCTOBER t6, 1940 IN BOOK 1085,
PAGE'127 OF OFFICIAL RECORDS; RLINN[NG THENCE PARALLEL WITH AND 30.00
FEET NORTHERLY AT RIGHT ANGLES FROM THE CENTER LING OF SAID POWAY
ROAD SOUTH 83°20'00" WGST, 133.69 FEET TO THE TRUE POIN7' OF BEGIi�TNING;
THENCE CONTINUWG AL.ONG SAID PARALLGL LINE�OUTIi �3°20'00" WEST, 133.fi8
FEET TO.THE.�;AST LINE OF LAND AS.DESCRIBED IN PARCEL 2 OG' TH�DEED TO J.
FRANK ZITTELL AND CHARLOTTE G. ZITTELL, RECORDED MARCH 26, 1947, IN
BOOK 2374, PAGE 80 OF OFFICIAL RECORDS; THENCE ALONG THE EAST LINE OF
LAND AS DESCRIBED Tt�' SAID EARCEL 2, NORTI-I 00°43.'00" EAST TO THE
SOUTE-IWEST CORNER OF'THE NORTH 1'62.65 FEET (MEASURED ALONG THE EAST
AND WEST LiINHS) OF THE LAND DESCR[BED IN DEED TO KENN�TII Ct SNYDER,
ETUS, RECORDED'1UN� 10, 1968 AS'DOCUMENT NO.96G18; THENCE EAST ALONG
THE SOUTFI LINB OP SAIll NORTH 162.65 FEET TO A LINE WHICH BEARS NORTH
� 00°43'00"`EAST, PARALLLL WI"fH THE�WEST LINE OF SAID DANIELSON'$ LANDS,
FROM THE TRUE POINT OF BEGINNING; THENCE SOUTII 00°43'00" WCST TO THE
TRUE POINT OF BEGINNING.
PARCEL 3:
A NON-E3XCLUSIVE EASEMLNT FOR THE INGRESS AND EGRESS OF MOTOR
VSHICLES AND PEDESTRIANS "1'O PERVIIT THE PREE FLOW OF VEH[CULAR AND
PEDESTRIAN INGRESS AND EGRESS PURSUANT TO RECIPROCAL EASEMENT
AGREEMENT RECORDED MAY 25, 2011, AS DOCUMENT NO. 2011-0268977 OF
OFPICIAL RECORDS, TO, FROM, OVER, AND ACROSS TIIOSG PORT[ONS OF "CHE
PROPERTIES DESCRIBED IN DEEDS TO CISSY FISHLR 121:COKllGD MAY 13, 1994, AS
DOCUMENT NO. i994-0317060 AND TO POWAY PAMILY HOUSING PARTNERS
RECORDGD DLCEn%1BL'R'22, 2009 AS DOCU^dEN"f VO. 2009=704717,- BOTH IN THE
OFFICIAL,RECO['�DS IN THr OFFICE OF THE CpIJ�`"i'Y RL'CORDT'R C�P' SAN DIEGO
COUNTY; STATE OF CALIFORNIA, TOG�THGR 'W1TH A PORTION OF PARCEL. 1
ACCORDING TO PARCEL,MAP THGREOF`NO. 3710, FILED 1N THE COUNTY OF SAN
DIEGO RECORDER'S OPIi[CL', APRIL L9, 1975, BE1NG MORE PARTICULARI:Y
DESCRBED IN Pd1tCELS A AND B AS FOLtiOWS:
� 10582
PARCEL A:
A 34.00 FOOT`WIDE:STRIP OF LAND LYING 14.00 P'EET EASTERLY OE, MEASURED
.
AT RIGHT ANGLES, AND PARALLLL WITH THE POLLOWING'DESCIZiBED LINE AND
20 FOOT WESTERLY OF, MEASURED AT RIGHT ANGLES, AND PARALLEL V✓ITH
THE FOLLOWING DESCRIBED LINE:
BEGINNING AT THE SOUTHEAST CORNER OF 7'HE P20PERTY DESCR[BED Il�' SAID
FISHER DEED; THENCE ALONG THE EASTERLY LINE OF SAID PROPERTY NORTH
O1°52'33" EAST 503:39 FEET TO A POINT ON TIIE WESTERLY LINE OF SAID PARC�L
1 OF PARCEL MAP 3710; THENCE ALONG THE NORTHERLY PROLONGATION OF
SAID EASTERLY LINE OF SAID FISHER PROPERTY NORTH O1°52'33'' EAST 36.92
EEET TO THE BEGINNING OF A 1'ANGENT 2i.00 FOOT Rf1DIUS CURVE, CONCAVE
WESTERLY, THENCE NORTHERLY ALONG SAID CURV& THROUGH A CENTRAL
ANGLE OF 28°19'49" AN ARC DISTANCE OF ]0.38 FEET; THENCE NORTH 26°2T16"
WEST 4.42 E��T, MORE OR LGSS, TO A POINT ON A NON-Tt1NGENT 1250.00 FOOT
RADIUS CURUE; A RADIAL LINE TO SAID POINT BEARS SOUTH 19°23'18" EAST;
SAID POINT AtiSO BEING ON THE SOUTHERLY RIGHT-OF'WAY LINE OF POWAY
ROAD (100 FEET WIDE) AND THE POINT OF TERMINATION AND HEREAFTER
DESCRIBEDAS POINT"A".
PARCGL B:
COMMENCING AT THE HEREINABOVE DESCRIBED P.OINT "A", THENC�
SOUTHW"ESTERCY ALONG SAID SOUTHERLY RIGHT-OF=WAY LINE OF SAID
POWAY':ROAD'THROUGH A CENTKAL ANGLL: OF 00°SY29" AN ARC DISTANCF OF
201:7 FEET TO A POINT ON THE WESTERLY LINE OF THE HEREINABOVE
DESCRIBED PARCEL A AND T[-IE TRUE POINT OF BEGINNING; THENCB ALONG
SAID WESTERLY LINE SOUTII 26°27'16" EAST 7.07 P�GT TO THE BEGINNING OP A
TANGENT L00 FOOT RADIUS CUItVE, CONCAVE WESTERLY;THENCE ALONG SAID
CURVE THROUGH A OENTRAL ANGI..E OF 28°19'49" AN ARC nISTANCE. OF 0.49
FEET ; THENCE; SOUTH Ol°52'33" WEST 54:53 PEET; THENCE LEAVING SAID
WESTERLY LINE NORTH 02°08'3G" WEST 28.54 FEET; THENCE NORTH Ol°52'33"
EAST 18.92 FEi,T"TO THE BEGINNING OP A TANGENT 7.50 POOT-R.ADIUS CURVE,
GONCAVE SOU:THW�STERLY; '1HENCE NGR"1'iIERLY ALONG SAID CURVE
THROUGH A CENTRAL�ANGLE OF 80°28'23"AN ARC DI_STAN6E�OF'10.-53 FEET TO A
PONT OE ,REVERSG CURVATURE WITH.A 7.50 FOOT R:4DIUS' CURVE CONCAVE
NORTHEASTERLY; A RADIAL LINE TO SAID POINT BEARS NORTH I]jO24']0".EAST;
�TH6NCE NORTHERLY ALONG SA[D CURVG THROUGH A CGNTRAL ANGLE OF
43°59'S0"AN ARC DISTANCE OF 5.76 FEET TO A POINT ON ANON-TANG�NT 1250.00
FOOT RADIUS CURVE, A RAD[AL LINE TO SAID PO[NT BEARS SOUTH 17°59'47"
EAST, ALSO BEING A POINT ON THE SOUTHERLY RIGHT-OF-WAY L�1VE OF SAID
POWAY ROAD; THENCE NORTHEASTERLY AI:ONG SAID CURVE THROUGH A
CENTRAL ANGLE OF 00°28'02" AN ARC DIS"CANCE OF 10.20 EEET TO THE TRUE
POINT OF BEGINNING.