Recorded in Official Records, MERCED COUNTY 08/30/2018
BARBARA J LEVEY 08:18 AM
RE20
Merced County Clerk - Recorder
RECORDING REQUESTED BY: P Public
City of Merced, A California charter Doc#: 2018026859 Titles: 1 Pages: 7 nunicipal corporation Fees 32.00
Taxes 000
Housing Fee 000
WHEN RECORDED MAIL TO: PAID 3200
8900002216723*
City of Merced
City Clerk
678 West 18" Street
Merced, California 95340
Exempt Recording Per Gov't Code
Section 6103
(Above for Recorder's Use Only)
NOTICE OF AFFORDABILITY RESTRICTIONS ON
TRANSFER OF PROPERTY
RELATING COMMUNITY DEVELOPMENT BLOCK GRANT LOAN
NOTICE: Restrictions have been recorded restricting the price and terms at which the real property described below in this Notice ("Property") may be sold or rented. These affordability estrictions may limit the sales price or rents of the Property to an amount that is less than the fai market value of such amounts for the Property and limit the persons and households who ar permitted to purchase or rent the Property to persons or households with certain income levels.
Recorded Document Containing Affordability Restrictions ("Affordability Restrictions") recorded (check one):
as document No. official records of
Merced County on _; or
Regulatory Agreement and Declaration of Restrictive Covenants (the "Regulatory Agreement") relating to the HOME Investment Partnership Loan, recorded concurrent with this Notice, official records of Merced County.
Name of Agency: City of Merced
Name of Property Owner: Merced Gateway Investors II. L.P.
Property Legal Description: See Attached legal Description Property Street Address: 1235 KST. Merced, CA 95341
Property Assessor's Parcel Number: 031-323-002-000
Affordability Restrictions Summary (check as applicable):
The Affordability Restrictions Restrict the amount of rent that may be charged for rental housing units on the Property, as follows:
As such terms are defined in the Regulatory Agreement, Rent charged to tenants of the Very Low-Income Units shall not exceed one-twelfth (1/12) of thirty percent (30%) of fifty percent (50%) of Area Median Income ("AMI"), and for Low-Income Units the rents shall not exceed one/twelfth (1/12) of thirty percent (30%) of sixty percent (60%) of Area Median Income ("AMI"). Adjusted for Family Size Appropriate for the Units; and Rent charged to tenants of the Moderate Unit shall not exceed one-twelfth (1/12) of thirty percent (30%) of one hundred twenty percent (120%) of AMI, Adjusted for Family Size Appropriate for the Unit. This applies only to the 3 CDBG assisted units. • The Affordability Restrictions restrict the sales price that may be charged for sale of one or more housing units on the-Property, as follows:
X The Affordability Restrictions restrict the income level of tenants or purchasers of the Property, as follows:
Thirty-Nine (39) units shall be restricted for occupancy by households with incomes at or below sixty percent (60%) of the AMI; and one (1) manager's unit shall be restricted for occupancy by households with income at or below one hundred twenty percent (120%) of the AMI of which three will be CDBG assisted units.
The Affordability commence on the date the Notice of Satisfaction of Obligations if filed and terminates after fifty-five (55) years.
This Notice is recorded pursuant to and in compliance with Health and Safety Code Section 33334.3 (f)(3) and (4) and California Government Code Section 27287. This Notice is conjoined with CA AB 382, Chapter 596.
CITY OF MERCED, A California charter
municipal corporation
APPROVED AS TO FORM:
Mayor
300424
FUNDS/ACCOUNTS VERIFIED
Verses DarT
FINANCE OFFICE
No funds toencenden. mer 6/29118
FL 6/29118
MERCED GATEWAY INVESTORS
II, LP, a California Limited Partnership
By: MERCED GATEWAY
INVESTORS II, LP,
a California Limited Partnership
Its: Agency for Services of Process
(Christina Alley|
ADDRESS: 3351 "M" Street,
Suite 100
Merced, CA 95348
TELEPHONE: (204) 353-0782
FAX: (209) 385 3170
E-MAIL: Chris @centravelleycalitien com
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.
State of California
County of Merced
on August 8 - 2018 treme Dawn Medarea Notary Public,
Personally appeared Michael w. Murphi
who proved to me on the basis of satisfactory evidence to be Me person whose namelf is ale subscribed to the within instrument and acknowledged fo me that he/she/they executed the same in (his/her/their authorized capacity(igs), and that byhis/hor/thair signature on the instrument the persong, or the entity upon behalf of which the person 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 and official seal.
DAWN MENDONCA
Commission # 2126220
Notary Public - California
Daur Mendenna Merced County
Signature _ (Seal) My Comm. Expires Oct 8, 2019
CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
notary public or other officer completing this certificate verifies only the identity of the individual who signe e document to which this certificate is attached. and not the truthfulness. accuracy, or validity of that documer State of California
: ss
County of Merced
On August 29. 2018 before me, Jennifer Bertuccio. Notary Public, personally appeared Christina Alley, who proved to me on the basis of satisfactory evidence to be the personts) whose namefs) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/theit signature(s) on the instrument the personts). 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 and official seal.
JENNIFER BERTUCCIO
Notary Public - California
Merced County
Commission: 2181181
My Comm. Expires Feb 9, 2021
funga atec
Notary Public
My Commission Expires:
February 9. 2021
:
EXHIBIT A
The land referred to is situated in the unincorporated area of the County of Merced, State of California, and is described as follows:
Lots 1 to 8 inc., and Lots 25 to 32 inc., in Block 281 according to "Supplemental Map to Town of Merced", recorded March 4, 1889 in Book 1 of Maps, Page 12, Merced County Records.
APN: 031-323-002-000