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TINY TIM LP (C/O COMMUNITY DEVELOPMENT PARTNERS) (2)
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TINY TIM LP (C/O COMMUNITY DEVELOPMENT PARTNERS) (2)
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Last modified
3/25/2020 12:53:12 PM
Creation date
4/29/2019 10:25:45 AM
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Contracts
Company Name
TINY TIM LP (C/O COMMUNITY DEVELOPMENT PARTNERS)
Contract #
A-2019-058
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
4/16/2019
Destruction Year
0
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c. Based on the unit mix and bedroom sizes provided above, at least fifteen (15) <br />of the units will be affordable to family households earning no more than 30% <br />of the AMI; five (5) of the units affordable to family households earning no <br />more than 50% of the AMI; and thirty (30) of the units affordable to family <br />households earning no more than 60% of the AMI. <br />7.3 Rent Increases: On an annual basis, the City shall provide the Developer with <br />the maximum allowable schedule of rents for the Property which shall correspond to the <br />maximum rent increase allowed by TCAC. In no event can Developer charge any tenant more <br />than such amount. <br />7.4 Maintenance of the Property. Solely at Developer's expense, Developer <br />agrees to maintain the Property in a clean and orderly condition and in good condition and <br />repair and keep the Property free from any accumulation of debris and waste materials. If at <br />any time Developer fails to maintain, or cause to be maintained, the Property as required by <br />this section, and said condition is not corrected after the expiration of a reasonable period of <br />time not to exceed thirty (30) days from the date of written notice from the City, unless such <br />condition cannot reasonably be cured within thirty (30) days, in which case Developer shall <br />have such additional time as reasonably necessary to complete such cure, the City may <br />perform the necessary maintenance and Developer shall pay all reasonable costs incurred for <br />such maintenance. The City shall inspect the Property annually after the date of issuance of <br />the Certificate of Completion as described in Section 17 of this Agreement. <br />7.5 Obligation to Refrain from Discrimination. Developer covenants and agrees <br />for itself, its successors, its assigns and every successor in interest to the Property or any part <br />thereof, that there shall be no discrimination against or segregation of any person or group of <br />persons on account of race, color, creed, disability, religion, sex, marital status, ancestry or <br />national origin in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of <br />the Property nor shall Developer itself or any person claiming under or through him establish <br />or permit any such practice or practices of discrimination or segregation with reference to the <br />selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or <br />vendees of the Property. The foregoing covenants shall run with the land and shall remain in <br />effect for the term of the Agreement. <br />8. DEFAULTS AND REMEDIES <br />8.1 Event of Default. Failure or delay by either party to perform any term or <br />provision of this Agreement within the time periods provided herein for such performance <br />constitutes a default under the Agreement. If any party defaults in performance of its <br />obligations, covenants or agreements hereunder, the defaulting party shall be entitled to cure <br />the default in accordance with this section. The injured party shall give written notice of <br />default to the party in default, specifying the default complained of by the injured party. Delay <br />in giving such notice shall not constitute a waiver of any default nor shall it change the time <br />of default. The defaulting party must, within thirty (30) days following service of said written <br />notice, commence to cure, correct or remedy such failure or delay and shall complete such <br />cure, correction, or remedy with reasonable diligence. Upon a default by Developer which is <br />not cured within thirty (30) days following service of said notice, unless such default cannot <br />reasonably be cured within thirty (30) days, in which case Developer shall have such <br />
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