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HomeMy WebLinkAboutDEPOT AT SANTIAGO, LP (2)-2014RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of Santa Ana Community Development Agency Housing Department M -37 20 Civic Center Plaza, 60' Floor P.O. Box 1988 Santa Ana, California 92702 Attention: Housing Manager A- 2013 - 072 -01 SPACE ABOVE TEIIS LINE FOR RECORDING USE FREE RECORDING REQUESTED [Government Code Section 61031 AMENDMENT TO LOAN AGREEMENT (923 N. Santiago Street, Santa Ana, CA) THIS AMENDMENT TO LOAN AGREEMENT (the "Amendment ") is entered into as of June 2014, by and among and Depot at Santiago, L.P. (referred to herein as the "Developer") a California limited partnership and the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California (the "City "). Its A. Developer and the City entered into the Loan Agreement ( "Agreement ") dated July 11, 2013, with regard to 923 N. Santiago Street ( "Property ") which was recorded in the Official Records, Orange County California on August 9, 2013 ( 92013000476765). B, The Agreement provides, among other things, for the use of the Property for affordable housing with the Assisted Units being restricted to being rented to Extremely Low, Very Low and Low Income households. C. The parties hereto now desire to amend the Agreement so as to provide that the HOME Assisted Units be designated_ as "Floating" as that term is used by the Department of Housing and Urban Development in regard to it HOME program. They also desire to amend the Agreement so as to provide for the following distribution of units. NOW, THERIsFORE, the parties hereby agree as follows: I . The parties agree that Section 7.2. of the Loan Agreement shall be amended to reflect the following distribution of units (not including the manager's unit), with eleven (11) three bedroom units designated as HOME units: Bedroom Square Foot 30% AMI 40% AMI 50% AMI 60% AMI Total Size (Avg.) 1 Bedroom 707 1 3 6 5 15 2 Bedroom 991 3 5 10 6 24 3 Bedroom 1,144 3 6 12 9 30 Totals 7 14 28 20 69 2. The relevant language in Section 7.2 shall be amended to reflect the maximum occupancy will be two (2) people per room plus one (1). Example for a two- bedroom unit, five (5) people would be maximum occupancy. Except as hereinabove modified, all terms and conditions of said Loan Agreement shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to Loan Agreement to be executed on the date set forth hereinabove. ATTEST: By: � &"A "0. / Maria Lr. Huizar, Clerk of the guncil CITY OF SANTA ANA a public body, corporate and politic David Cavazos, City Manager APPROVED AS TO FORM: Sonia R. Carvalho City Attorney By: Z r. e °z.zsC_ Lisa E. Storck Assistant City Attorney 2 Signatures continued DEVELOPER: Depot at Santiago, LP, a California limited partnership MANAGING GENERAL PARTNER OHDC Depot, LLC, a California limited liability company Orange Housing Development Corporation a California nonprofit public benefit corporation By: Eunice Bobert Chief Executive Officer DEVELOPER GENERAL PARTNER C &C Depot, LLC a California limited liability liliaabi %littyy coom—ppaany By: ✓ , Todd R. Cottle, its member By: Cottle Family Trust Dated 3/8/87, Its Member By: "fiarry A. Cottle, its Trustee CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT State of California County of Orange }SS. On June 23, 2014 before me Claudia M. Fernandez -Shaw, Notary Public Date Name and Title of Officer personally appeared David Cavazos who proved to me on the basis of satisfactory evidence to be the person(s) whose namefra'f /ara subscribed to the within instrument and acknowledged to me that 11�/s4iefthey executed the same in 4#'isfher/thetr authorized capacity(�s), and that by i /19erfthetr signature(,s'j on the instrument the persono), or the entity upon behalf of which the person(( acted, executed the instrument. CLAUDIA M. FERNANDEZ -SHAW I certify under PENALTY OF PERJURY under commission # 2053995 the laws of the State of California that the Notary Public - California Orange County foregoing is true and correct. M Comm. Expires Jan 25 2D98+ WI NESS hand and official se t Place Notary Seal Above Signature of Noarcubi c OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signers) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Individual ❑ Corporate Officer — Title(s): ❑ Partner -- ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT State of California l County of 0924 J67 Ji On `( before me, _J ct- -VVe W\r_v- e Vk-ntoca •i z� Date Here Insert Name and Title of the Officer ' personally appeared Et.nrc e- E3aFgz+r Name(s) of Slgneds) Signer(s) Other Than Named Above: _ Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Individual ❑ Partner — ❑Limited ❑General • Attorney in Fact • Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: RIGHTTHUMBPR17 OF SIGNER • 92009 National Notary Association • 9350 De Sato Ave., P.O. Box 2402, Chatswonh, CA 91 Signer's Name: ❑ Corporate Officer — Title(s): ❑ Individual ❑ Partner — ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: tem RIGHTTHUMBPRINT OF SIGNER who proved to me on the basis of satisfactory evidence to be the pei whose name(e Is are subscribed to the within instrument and acknowledged to me that f�she /they executed the same in hi /her /their authorized capacity and and that by hl her /their signature(r, on t>f e instrument the personfe9, or the entity upon behalf of which the 1 person,'] acted, executed the instrument. O I certify under PENALTY OF PERJURY under the ' laws of the State of California that the foregoing a paragraph is true and correct. WITNESS my hand and official seal. SignatureQ�w . c+- -hierr i Li�ry Place Notary Seal and /or Stamp Above Signature of Nofery Public OPTIONAL — Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: _ Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Individual ❑ Partner — ❑Limited ❑General • Attorney in Fact • Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: RIGHTTHUMBPR17 OF SIGNER • 92009 National Notary Association • 9350 De Sato Ave., P.O. Box 2402, Chatswonh, CA 91 Signer's Name: ❑ Corporate Officer — Title(s): ❑ Individual ❑ Partner — ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: tem RIGHTTHUMBPRINT OF SIGNER CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE State of California County of ronG On /< before me, Date Herb Insert Name and Title of the Officer personally appeared STEPHEN JEFFREY EDWARDS Commission t 2059013 Z . ": Notary Public • California Z Orange County My Comm. Expires Fab 23, 2018+ O a Name(s) of who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s),Wa-re subscribed to the within instrument and acknowledged to me that )e/,,qJ;i6/they executed the same in 121s /W /their authorized capacity(ies), and that by tyis' /J;ier /their signature(s) on the instrument the person(s), 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 han;;Ze Place Notary Seal Above Signature: OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Number of Pages: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: © 2013 National Notary Association + www.NationalNotary.org • 1- 800 -US NOTARY (1- 800 - 876 -6827) Item 45907 A- 2013- 072 -01 RECORDING REQUESTED BY [E �� 1� 7 AND WHEN RECORDED RETURN TO: City of Santa Ana Community Development Agency Housing Department M -37 20 Civic Center Plaza, 6h Floor P.O. Box 1988 Santa Ana, California 92702 Attention: Housing Manager SPACE ABOVE THIS LINE FOR RECORDING USE FREE RECORDING REQUESTED [Government Code Section 6103] AMENDMENT TO AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY (923 N. Santiago, Santa Ana, CA) THIS AMENDMENT TO AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY (the "Amendment") is entered into as of June 1% , 2014, by and among and Depot at Santiago, L.P., (referred to herein as the "Developer ") a California limited partnership and the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California (the "City"). RECITALS: A. Developer and the City entered into the Affordability Restrictions on transfer of Property ( "Agreement ") dated July 11, 2013, which was recorded in the Official Records, Orange County California on August 9, 2013 ( 42013000476766). B. The Agreement provides, among other things, for the use of the Property for affordable housing with the Assisted Units being restricted to being rented to Extremely Low, Very Low and Low Income households. C. The parties hereto now desire to amend the Agreement so as to provide for the following distribution of units. NOW, THEREFORE, the parties hereby agree as follows: 1. The parties agree that Section 3.1 A. and B. of the Agreement shall be amended to reflect that the number of HOME assisted units is eleven (11), and HOME traits will be floating and designated to three - bedroom units. 2. The relevant language in Section 3.2 shall be amended to reflect the maximum occupancy will be two (2) people per room plus one (1). Example for a two - bedroom unit, five (5) people would be maximum occupancy. 3. The table in Section 3.2 shall be amended to reflect the following distribution of units (not including the manager's unit): Bedroom Square Foot 30% AMI 40% AMI 50% AMI 60% AMI Total Size (Avg.) 1 Bedroom 707 1 3 6 5 15 2 Bedroom 991 3 5 10 6 24 3 Bedroom 1,144 3 6 12 9 30 Totals 7 14 28 20 69 4. Except as hereinabove modified, all terms and conditions of said Affordability Restrictions on Transfer of Property shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to Affordability Restrictions on Transfer of Property to be executed on the date set forth hereinabove. ATTEST: By: Maria D Huizar, Clerk of the ouncil CITY OF SANTA ANA a public body, corporate a d politic By. David Cavazos, City Manager APPROVED AS TO FORM: Sonia R. Carvalho City Attorney By: Z?/ , c.- �- Lisa E. Storck Assistant City Attorney Signatures continued — Amendment to Affordability Restrictions on Transfer of Property DEVELOPER: Depot at Santiago, L.P., a California limited partnership MANAGING GENERAL PARTNER OHDC Depot, LLC, a California limited liability company Orange Housing Development Corporation a California nonprofit public benefit corporation By: Eunice Bobert Chief Executive Officer DEVELOPER GENERAL PARTNER C &C Depot, LLC a California limited liability company Todd R C /o-ttle, its member By: Cottle Family Trust Dated 3/8/87, Its Member arry A. Cottle, its Trustee CALIFORNIA ALL- PURPOSE ACKNOWLEDGMENT State of California County of r]22JGrC OnitA^t iTkDam eoIrf - before me, F4aro�a.�z Here Insert Name and Title of the Officer personally appeared Name(s) of Signers) who proved to me on the basis of satisfactory evidence to be the persori(s) whose name,(s)(,T /are subscribed to the within instrument and acknowledged to me that iP/she /they executed the same in 8 hI /her /their authorized capacity�i ), and that by I /her /their signature(' on the instrument the personV, or the entity upon behalf of which the ANNETTE MARIE HOROWITZ person(s) acted, executed the instrument. Commission a 206M JE I certify under PENALTY OF PERJURY under the Or+nNC01� laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature: —," Place Notary Seal and /or Stamp Above ®PTIONAL Z Signature of Notary Public Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Individual ❑ Partner — ❑Limited ❑General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: .RIGHT THUMBPRINT: OF SIGNER ©2008 National Notary Association • 0350 Be Solo Ave., P.O. Box 2402 • Chatsworth, CA 91 Number of Pages: Signer's Name: ❑ Corporate Officer — Title(s): ❑ Individual ❑ Partner — ❑ Limited ❑ General Top of thumb here ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Item 1- 000 -07e -6921 CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT State of California County of Orange }SS. On June 23, 2014 before me Claudia M. Femandez -Shaw, Notary Public Date Name and Title of Officer personally appeared David Cavazos -------------- CLAU M. ERNANDEZ•SHAW Commission +F 2053995 ti Notary Public • California a Orange County 4 Comm. Expires Jan 2525, 2018 Place Notary Seal Above who proved to me on the basis of satisfactory evidence to be the personSs) whose name(4 ,401a e subscribed to the within instrument and acknowledged to me that Sfhetthep executed the same in s14RHTir authorized capacity{aes), and that by djalaeMheir- signature(,) on the instrument the person(54, or the entity upon behalf of which the per on(A acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing is true and correct. and official seal. Though the information below is not required by law, it may prove valuable to persons relying on the and could prevent fraudulent removal and reattachment of this form to another document Description of Attached Document Title or Type of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Individual ❑ Corporate Officer - Title(s): ❑ Partner -- ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Number of Pages: CALIFORNIA CIVIL .. '�S,?.t =n .a .ski w .v. _aS�s7` a .a .c��'.ca .at �< �S.c�i/c�• .� at.s�� .a� .c���.-� ..S. State of California County of U/ Grit t 1 On lB /a% before me, �A,-V 4K Ac� rea r_,L o , A Date Nere Insert Name and Title of the Officer 1/ 17 n n /I/ personally appeared STEPHEN JEFFREY EDWARDS 7 Commission # 2059013 Notary Public . California z Orange County y My Comm. Expires Feb 23. 2018 Though Place Notary Seal Above F Names) of who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) jeare subscribed to the within instrument and acknowledged to me that e /they executed the same in Jzis/hef/their authorized capacity(ies), and that by piafber9their signature(s) on the instrument the person(s), 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 an gfficial sea Signature: Signature o lotary Public OPTIONAL this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Number of Pages: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: 0 2013 National Notary Association • www,NationalNotary.org • 1- 800 -US NOTARY (1- 800 - 876 -6827) Item #5907