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Backup Documents 04/22/2014 Item #16D13 1 013 ORIGINAL DOCUMENTS CHECKLIST & ROUTING SLIP TO ACCOMPANY ALL ORIGINAL DOCUMENTS SENT TO THE BOARD OF COUNTY COMMISSIONERS OFFICE FOR SIGNATURE Print on pink paper.Attach to original document.Original documents should be hand delivered to the Board Office.The completed routing slip and original documents are to be forwarded to the Board Office only after the Board has taken action on the item.) ROUTING SLIP Complete routing lines#1 through#4 as appropriate for additional signatures,dates,and/or information needed.If the document is already complete with the exception of the Chairman's signature,draw a line through routing lines#1 through#4,complete the checklist,and forward to Sue Filson(line#5). Route to Addressee(s) Office Initials Date (List in routing order) 1. Elly Soto McKuen,Operation Analyst Housing,Human,Veterans Services esm 4/22/2014 Department 2. Jennifer A.Belpedio,ACA Office located within Housing,Human, .�22�►4- Veterans Services Department —.( J 3. County Attorney's Office County Attorney's Office \\14:: // \ Z-S1\ 4. BCC Office Board of County Commissioners 5. Minutes and Records Clerk of Court's Office 4126114— (CtUtSrd `t14(l`{- PRIMARY CONTACT INFORMATION (The primary contact is the holder of the original document pending BCC approval.Normally the primary contact is the person who created/prepared the executive summary.Primary contact information is needed in the event one of the addressees above,including Sue Filson,need to contact staff for additional or missing information.All original documents needing the BCC Chairman's signature are to be delivered to the BCC office only after the BCC has acted to approve the item.) Name of Primary Staff Elly Soto M uen, Operations Analyst Phone Number 239-252-26 Contact Agenda Date Item was 4/22/2014 Agenda Item Number 16.D.13 Approved by the BCC �csa`u�c\crr� 2014- --/co Type of Document Saddlebrook PUD—Assignment and Number of Original 1 original of each Attached Assumption,Board Resolution Documents Attached Q,ss v r cx - co kcts s!!1\ -"\)oonc-V kcSe-4„,zc:,seScNel cssrivcxxk INSTRUCTIONS&CHECKLIST \hSo ati��c,►c'St+e�. Initial the Yes column or mark"N/A"in the Not Applicable column,whichever is appropriate. Yes N/A(Not (Initial) Applicable) 1. Original document has been signed/initialed for legal sufficiency.(All documents to be signed by the esm Chairman,with the exception of most letters,must be reviewed and signed by the Office of the County Attorney.This includes signature pages from ordinances,resolutions,etc.signed by the County Attorney's Office and signature pages from contracts,agreements,etc.that have been fully executed by all parties except the BCC Chairman and Clerk to the Board and possibly State Officials.) 2. All handwritten strike-through and revisions have been initialed by the County Attorney's Office and N/A all other parties except the BCC Chairman and the Clerk to the Board 3. The Chairman's signature line date has been entered as the date of BCC approval of the document or esm the final negotiated contract date whichever is applicable. 4. "Sign here"tabs are placed on the appropriate pages indicating where the Chairman's signature and esm initials are required. 5. In most cases(some contracts are an exception),the original document and this routing slip should be esm provided to the BCC office within 24 hours of BCC approval. Some documents are time sensitive and require forwarding to Tallahassee within a certain time frame or the BCC's actions are nullified. Be aware of your deadlines! 6. The document was approved by the BCC on 4/22/2014 and all changes made during the JAB meeting have been incorporated in the attached document. The County Attorney's Office has reviewed the changes,if applicable. I:Forms/County Forms/BCC Forms/Original Documents Routing Slip WWS Original 9.03.04,Revised 1.26.05,Revised 2.24.05 «matter number»k<document_number» NeetVirginia 16 013 From: BelpedioJennifer Sent: Thursday, April 24, 2014 9:10 AM To: NeetVirginia Subject: Don Pickworth's Contract information 5100 TAMIAMI TRL N STE 103 NAPLES, Florida 341032810 United States Phone: 239.263.8060 E-Mail: picklaw @earthlink.net J A. 6th i o- Assistant County Attorney Collier County, Florida Direct Dial: (239) 252-5709 Under Florida Law,e-mail addresses are public records.If you do not want your e-mail address released in response to a public records request,do not send electronic mail to this entity.Instead,contact this office by telephone or in writing. 1 16 013 RESOLUTION NO. 2014- 7 6 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY CONSENTING TO THE TRANSFER OF AN AFFORDABLE HOUSING MULTIFAMILY DEVELOPMENT KNOWN AS SADDLEBROOK VILLAGE APARTMENTS; CONSENTING TO THE ASSIGNMENT AND THE ASSUMPTION OF THE DUTIES AND OBLIGATIONS UNDER A CERTAIN AFFORDABLE HOUSING DENSITY BONUS AGREEMENT DATED DECEMBER 9, 1997; AUTHORIZING THE FORM OF, EXECUTION BY THE CHAIRMAN, AND DELIVERY OF, AN ASSIGNMENT AND ASSUMPTION OF AFFORDABLE HOUSING DENSITY BONUS AGREEMENT AND PROVIDING FOR CERTAIN DETAILS THEREOF; AUTHORIZING THE FORM OF, EXECUTION BY THE CHAIRMAN, AND DELIVERY OF, A TERMINATION OF AFFORDABLE HOUSING DENSITY BONUS AGREEMENT WITH A TERMINATION DATE OF MARCH 24, 2015 AND PROVIDING FOR CERTAIN DETAILS THEREOF; AUTHORIZING THE PROPER OFFICERS TO DO ALL THINGS NECESSARY OR ADVISABLE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Board of County Commissioners of Collier County (the "Commission"), pursuant to its authority under the Florida Local Government Comprehensive Planning Act and the comprehensive plan adopted pursuant thereto has enacted Ordinance 90-89, entitled the Collier County Affordable Housing Density Bonus Ordinance (the "Ordinance"); and WHEREAS, the purpose and intent of the Ordinance is to assist in providing low, moderate and very low income housing through the use of density bonuses which allow an increase in the number of residential dwelling units per acre allowed on property proposed for development, thereby decreasing the per unit cost of land and development; and WHEREAS, the Ordinance establishes an Affordable Housing Density Bonus Program that provides the process by which a developer may apply for a density bonus and implements this program by requiring that an affordable housing density bonus shall only be available to a developer through an affordable housing density bonus agreement between the developer and the Commission; and WHEREAS, the Commission and CEI/Kensington, a Florida limited partnership, by and through its general partner, Colonial Equities Inc., and Outreach Housing Corporation, entered into that certain agreement entitled "Agreement Authorizing Affordable Housing Density Bonus and Imposing Covenants and Restrictions on Real Property" dated as of December 9, 1997 and recorded in the Official Records of Collier 1 16 013 County, Florida at Official Records Book 2374, Page 2544 (the "Density Bonus Agreement"); and WHEREAS, the Density Bonus Agreement applies to a 33.79 acre site legally described in the Density Bonus Agreement upon which was planned to be constructed a multifamily housing project in two Phases, Phase I being a 140-unit development known as Saddlebrook Village (hereinafter the "Project"), with Phase II being the remainder of the property, and not owned or controlled by CEI/Kensington; and WHEREAS, CEI/Kensington owned and was responsible for developing pursuant to the Density Bonus Agreement only the Project, and not Phase II, and did in fact developed and operate the Project; and WHEREAS, the Density Bonus Agreement provides, inter alias that during the term of the agreement the developer may not assign, delegate, or otherwise transfer all or part of its duties, obligations, or promises under the Density Bonus Agreement to any successor in interest to the property without the express written consent of the Commission; and WHEREAS, CEI/Kensington conveyed the Project to Saddlebrook Apartments LLC, (the "Current Owner") on March 8, 2013; and WHEREAS, pursuant to the requirements of the Density Bonus Agreement and prior to the March 8, 2013 conveyance, the Current Owner requested the Commission to consent to the transfer of the Project from CEI/Kensington to the Current Owner and to the assignment of CEI/Kensington's rights and obligations under the Density Bonus Agreement and the assumption of such rights and obligations by the Current Owner; and WHEREAS, upon consideration of the above-described request at its meeting of February 27, 2013, the Commission adopted Resolution 2013-44, consenting to the transfer of the Project to the Current Owner, and consenting to the assignment and assumption of the duties and obligations of the Density Bonus Agreement to the Current Owner pursuant to the Assignment and Assumption of Density Bonus Agreement referred to herein; and WHEREAS, Resolution 2013-44, including the Assignment and Assumption of Density Bonus Agreement was recorded March 8, 2013 at OR Book 4894, Page 1193 of the Public Records of Collier County, Florida; and WHEREAS, the Current Owner has entered into an agreement to convey the Project to Saddlebrook Seven LLC, Rach Saddlebrook LLC, and DAFR Saddlebrook LLC, each a Florida limited liability company, (collectively, the "Purchaser"), subject, among other things, to the consent of the Commission to the assignment of the Density Bonus Agreement to the Purchaser; and WHEREAS,the Density Bonus Agreement provides that each affordable housing 2 16013 unit shall be restricted to remain and be maintained as the required type of affordable housing rental unit as designated for at least fifteen years from the date of issuance of a certificate of occupancy for such unit and that after 15 years the Density Bonus Agreement may terminate upon a date mutually agreed upon by the parties and stated in writing; and WHEREAS, the Commission has considered the determinations of the Housing Finance Authority of Collier County, a body corporate and politic created by the Commission by Ordinance 80-66 enacted July 29, 1980, to the effect that the Purchaser has the requisite financial and managerial capability to carry out its obligations as the proposed transferee; and WHEREAS, the Commission intends, by the adoption of this resolution, to signify its consent to the transfer of the Project to the Purchaser, and its consent to the assignment and assumption of the duties and obligations of the Density Bonus Agreement to the Purchaser pursuant to the Assignment and Assumption of Density Bonus Agreement referred to herein; and WHEREAS, the Commission also intends, by the adoption of this resolution, to signify its consent to the termination of the Density Bonus Agreement with a termination date of March 24, 2015. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA THAT: Section 1. Consent to Transfer of Project. The Commission hereby consents to the transfer of the Project to the Purchaser effective upon the Closing Date, and subject to the Agreement (as defined herein) and this Resolution. As used in this Resolution, the term "Closing Date" shall mean the date the Project is conveyed by Current Owner to Purchaser by deed or other appropriate instrument. Closing Date is currently expected to be April 30, 2014. Section 2. Authorization and Approval of Assignment and Assumption of Density Bonus Agreement. The form and content of the Assignment and Assumption of Affordable Housing Density Bonus Agreement (the "Agreement") presented at this meeting and attached hereto as Exhibit "A" is hereby authorized and approved by the Commission. The Chairman of the Commission is hereby authorized to execute the Agreement and attest thereto, in substantially the form set forth in Exhibit A hereto, together with such changes, modifications and deletions as they, with the advice of the Commission's Counsel, may deem necessary and appropriate. Such execution and delivery shall be conclusive evidence of the approval and authorization thereof by the Commission. Section 3. Delivery of Agreement. Commission's Counsel shall deliver the Agreement upon the satisfaction of the condition that payment has been made of all fees 3 16013 and expenses of the Commission and its professionals, or that any fees or expenses due the County under the Density Bonus Agreement have been paid. Section 4. Further Actions and Ratifications of Prior Actions. The officers, agents and employees of the Commission are hereby authorized and directed to do all acts and things required of them by the provisions of the Agreement and this Resolution. All actions heretofore undertaken by the officers, agents and employees of the Commission with respect to the provisions of the Agreement are hereby ratified and approved. Without limiting the generality of the foregoing, the appropriate officers of the Commission are authorized to execute a Termination of Density Bonus Agreement ("Termination Document") in substantially the form attached as Exhibit B to the Agreement, upon compliance by the Purchaser with the terms of the Agreement relating to termination Section 5. Effective Date. This Resolution shall take effect immediately upon its passage. This Resolution adopted this 22nd day of April, 2014 after motion, second, and majority vote in favor of passage. ATTEST:`bWIGHT E.BROCK, CLERK BOARD OF COUNTY COMMISSIONERS OF COLLIER 5 / , FLORIDA ��' .. . 'f J, / By \ 6 C • By 41■■■ G%v :S , Deputy Clerk Tom Henning/ Attest a" Chairman Ap1Higfla1 filtywm and legality: By: Cc .8 Jennifer. Belpedio, A st. County Attorney Item# Agenda(4 7 7 Date Date L -1 Reed i eputy I: • 4 16013 EXHIBIT "A" TO COUNTY RESOLUTION FORM OF ASSIGNMENT AND ASSUMPTION AGREEMENT 5 • 16013 AFTER RECORDING, RETURN TO: Clerk of Courts Board Minutes&Records 3299 Tamiami Trail East Suite 401 Naples,Florida 34112 SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE ASSIGNMENT AND ASSUMPTION OF AFFORDABLE HOUSING Density Bonus Agreement (Saddlebrook Village Apartments) THIS ASSIGNMENT AND ASSUMPTION OF AFFORDABLE HOUSING DENSITY BONUS AGREEMENT (this "Agreement") is dated as of _, 2014 (the "Effective Date" as defined herein), by and between Saddlebrook Seven LLC, Rach Saddlebrook LLC, and DAFR Saddlebrook LLC, each a Florida limited liability company, (collectively, the "Purchaser"), Saddlebrook Apartments LLC, a Florida limited liability company (the "Seller"),and the Collier County Board of County Commissioners, as the governing body of Collier County, Florida, a political subdivision of the State of Florida (the "Commission"). WITNESSETH: WHEREAS, the Commission, pursuant to its authority under Section 163.3161 Fla. Stat., et, seq. (the Florida Local Government Comprehensive Planning and Land Development Regulation Act) has enacted Ordinance 90-89, entitled the Collier County Affordable Housing Density Bonus Ordinance (the "Ordinance"); and WHEREAS, purpose and intent of the Ordinance is to assist in providing low, moderate and very low income housing through the use of density bonuses which allow an increase in the number of residential dwelling units per acre allowed on property proposed for development, thereby decreasing the per unit cost of land and development; and WHEREAS, the Ordinance establishes an Affordable Housing Density Bonus Program that provides the process by which a developer may apply for a density bonus and implements this program by requiring that an affordable housing density bonus shall only be available to a developer through an affordable housing density bonus agreement between the developer and the Commission; and 1 CAQ eft v La J. 16 0 3 WHEREAS, the Commission and CEI/Kensington, a Florida limited partnership, by and through its general partner, Colonial Equities Inc., and Outreach Housing Corporation, entered into that certain agreement entitled "Agreement Authorizing Affordable Housing Density Bonus and Imposing Covenants and Restrictions on Real Property" dated as of December 9, 1997 and recorded in the Official Records of Collier County, Florida at Official Records Book 2374, Page 2544 (the Affordable Housing Density Bonus Agreement, and hereafter, the "Density Bonus Agreement"); and WHEREAS, the Density Bonus Agreement applies to a 33.79 acre site legally described in the Density Bonus Agreement upon which was planned to be constructed a multifamily housing project in two Phases, Phase I being a 140-unit development known as Saddlebrook Village (hereinafter the "Project"), with Phase II being the remainder of the property, and not owned or controlled by the Seller; and WHEREAS, CEI/Kensington owned and was responsible for developing pursuant to the Density Bonus Agreement only the Project, and not Phase II, and has in fact developed and operated the Project; and WHEREAS, the Density Bonus Agreement provides, inter alia, that during the term of the agreement the developer may not assign, delegate, or otherwise transfer all or part of its duties, obligations, or promises under [the Density Bonus Agreement] to any successor in interest to the property without the express written consent of the Commission; and WHEREAS, the Purchaser and the Seller have entered into that certain Sale Agreement dated as of March 14, 2014 (the "Sale Agreement"), pursuant to which the Purchaser is to acquire the ownership of the Project from the Seller; and WHEREAS, pursuant to the requirements of the Density Bonus Agreement, the Purchaser has requested the Commission to consent to the assignment of the Seller's rights and obligations under the Density Bonus Agreement and the assumption of such rights and obligations by the Purchaser; and WHEREAS, the Commission has adopted a resolution consenting to the assignment and assumption so requested and authorizing the execution and delivery of this Agreement. NOW, THEREFORE, for and in consideration of the mutual covenants, promises and agreements set forth herein, the receipt and sufficiency of which the parties hereby acknowledge, the Purchaser and the Commission agree as follows: Section 1. Definitions. All capitalized terms used in this Agreement and not otherwise defined herein shall have the same meanings as set forth in the Density Bonus Agreement, unless the context clearly requires otherwise. Section 2. Applicability only to the Seller and Project. This Agreement applies only to 2 C 16D13 the Seller as defined herein, and only to that portion of the Property as defined in the Density Bonus Agreement upon which the Project has been constructed. That portion of the Property to which this Agreement is applicable is described in Exhibit A attached hereto. Section 3. Assignment of Affordable Housing Density Bonus Agreement. The Seller assigns to the Purchaser all of the Seller's right, title and interest in and to the Density Bonus Agreement including, without limitation, all of the benefits, duties and obligations of the Seller under the Density Bonus Agreement (arising or accruing after the Effective Date), which assignment shall be effective as of the Effective Date. From and after the Effective Date, Seller shall have no liabilities or other obligations under the Density Bonus Agreement. Section 4. Assumption of Obligations under Affordable Housing Density Bonus Agreement. From and after the Effective Date, the Purchaser hereby covenants and agrees as follows: (a) to pay and perform all obligations and liabilities, accruing from and after the Effective Date, as and when due under, and in accordance with the terms of, the Density Bonus Agreement, whether now or hereafter existing, fixed or contingent; and (b) to be bound by and comply with all covenants, agreements, conditions, restrictions and limitations now or hereafter made by or applicable to the owner of the Project, pursuant to the Density Bonus Agreement, and including the representations and warranties set forth in the Density Bonus Agreement, accruing from and after the Effective Date, including, without limitation, the restrictions concerning the operation of the Project and the leasing of apartment units therein. The Purchaser hereby assumes from and after the Effective Date, all liabilities and other obligations of the Seller under, and agrees to comply with and be bound by all the covenants, agreements, conditions, representations, warranties, restrictions and limitations contained in,the Density Bonus Agreement. Section 5. No Release of Seller. The Seller is not released from, and will remain fully liable for the payment of all sums, if any, and the performance of all obligations, arising prior to the Effective Date, under and in accordance with the terms of the Density Bonus Agreement. Nothing contained in this Agreement or otherwise will prevent the Commission from pursuing concurrently or successively all rights and remedies available to it pursuant to the Density Bonus Agreement or at law or in equity and against any persons, firms or entities whatsoever, and the exercise of any of its rights or the completion of any of its remedies will not constitute a discharge of any obligation of the Seller, with respect to obligations arising prior to the Effective Date, or Purchaser, with respect to obligations arising on and after the Effective Date, under the Density Bonus Agreement or this Agreement. Section 6. Representations and Warranties of Seller. The Seller hereby represents and warrants to the Commission as follows: (a) The Seller (i) is a limited partnership duly organized, validly existing and in good standing under the laws of the State of Florida, and (ii) has all requisite power and authority to enter into this Agreement and perform its obligations hereunder. (b) To the best of Seller's knowledge, there have been no amendments, supplements or modifications to the Density Bonus Agreement or to any other instruments or agreements to which the Seller is a party or by which it is bound and which relate to the 3 Cq 16013 Density Bonus Agreement. (c) The Density Bonus Agreement is in full force and effect, and no material breaches, defaults or defenses have been asserted in writing to Seller, or to the best of Seller's knowledge are in existence under the Density Bonus Agreement by any of the parties thereto (including the Seller) and, to the best of Seller's knowledge, no facts or circumstances exist which, with the giving of notice or the passage of time, or both, would constitute a material breach or violation of, or default under, the Density Bonus Agreement by the Seller or any other party thereto. (d) To Seller's knowledge, and other than with regard to the Non-Compliance Issues, (i) Seller has complied with and fulfilled all of the requirements of and has satisfied all conditions under the Density Bonus Agreement, or has provided certifications and other documentation that demonstrates the same, in connection with the transactions described in this Agreement and all of the conditions precedent thereto as described in the Density Bonus Agreement, and (ii) Seller has not received any invoice or statement that there are any fees and other amounts payable to the Commission under the Density Bonus Agreement which are currently due and payable or which have accrued but are unpaid. (e) The execution and delivery by the Seller of this Agreement, and the compliance by the Seller with all of the provisions hereof and of the Density Bonus Agreement (i) are within the power of the Seller, (ii) will not conflict with or result in any breach of any of the provisions of, or constitute a default under, or result in the creation of any lien, charge or encumbrance upon any property of the Seller under the provisions of, Seller's partnership agreement or any other agreement or instrument to which the Seller is a party or by which it may be bound, or any license,judgment, decree, law, statute, order, rule or regulation of any court or governmental agency or body having jurisdiction over the Seller or any of its activities or properties, and (iii) have been duly authorized in accordance with the organizational documents of Seller. Section 7. Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants, as of the date hereof, to the Seller and the Commission as follows: (a) The Density Bonus Agreement has been reviewed by the Purchaser and its counsel. The Purchaser is knowledgeable about the Project and has made an independent investigation of all facts and circumstances deemed relevant to it in connection with the acquisition of the Project and has reviewed and is familiar with all of the terms, provisions and conditions of the Density Bonus Agreement and all of the obligations thereunder which have been assumed in their entirety by the Purchaser under this Agreement. (b) The Purchaser has obtained all consents, authorizations and approvals from all governmental agencies and other authorities necessary for its acquisition of the Project. The Commission approved the transfer of the Project to the Purchaser, subject to this Agreement, at the Commission's meeting of April 22, 2014. 4 Ciq 0 16013 (c) The Purchaser represents to the Commission that: (i) it has all requisite power and authority and all necessary licenses and permits to own and operate its properties and to carry on its business as now conducted, including, without limitation, its acting as owner of the Project; (ii) it has full power, authority and legal right to enter into, execute and deliver this Agreement and to assume and perform the obligations under the Density Bonus Agreement, and to engage in the transactions contemplated thereby; (iii) it has the creditworthiness and the management ability to operate the Project in the manner contemplated by the Density Bonus Agreement; (iv) the correct legal name of the Purchaser is Saddlebrook Seven LLC, Rach Saddlebrook LLC, and DAFR Saddlebrook LLC, each of whom is a Florida limited liability company and each of whom has been properly organized under the laws of the State of Florida and is in good standing in such state as of the date hereof, and is legally authorized to do business in Florida. Section 8. Representations and Warranties of the Commission. The Commission hereby represents and warrants, as of the date hereof, as follows: (a) A copy of the Density Bonus Agreement is attached hereto as Exhibit B. The Density Bonus Agreement has not to the best knowledge of the Commission, without inquiry, been altered, supplemented, assigned,modified or amended in any respect. (b) The Commission has received all amounts payable to it under the Density Bonus Agreement and, to the knowledge of the Commission without inquiry, the Seller is neither in default under or in breach or violation of any other covenant or condition under the Density Bonus Agreement. The Commission has neither given nor received, to its knowledge without inquiry, notice of any default under the Density Bonus Agreement. Section 9. Additional Covenants. Purchaser additionally covenants with the Commission as follows: (a) The Purchaser hereby agrees to pay all fees, costs and expenses incurred by the Commission (including, but not limited to, reasonable attorneys' fees) in connection with the preparation and/or review and delivery of this Agreement and any other documents executed simultaneously herewith. (b) Purchaser additionally covenants with the Commission as follows: (i) it acknowledges that it has acquired the Project subject to the restrictions and limitations of the Density Bonus Agreement. The Purchaser further agrees and acknowledges that any subsequent transfer of the Project, or interests in the Project, prior to the expiration of the Term of Agreement per Section 11 of the 16D13 Density Bonus Agreement, must be approved by the Commission pursuant to the Density Bonus Agreement and the terms hereof. (ii) Purchaser acknowledges that it will, as part of the acquisition of the Project, (a) enter into an Assignment and Assumption of and Second Amendment to Extended Low-Income Housing Agreement among Seller, Purchaser, and Florida Housing Finance Corporation (the "Florida Housing Agreement")) which provides, among other things, for the monitoring of Purchaser's compliance under the terms of the Florida Housing Agreement and (b) an Assignment and Assumption of Land use Restriction Agreement among Seller, Purchaser, and the Housing Finance Authority of Collier County. Purchaser shall, promptly upon receipt, provide Commission with a copy of any and all reports, reviews, or any other written communications it receives from Florida Housing or First Housing as Compliance Agent under the Florida Housing Agreement. In addition, Purchaser shall provide Commission with copies of any notices of violation, or any other documents in connection with any Collier County code enforcement proceedings. (iii) it agrees to notify the Commission sixty (60) days prior to any change in the legal name, address, organization or structure of the registered entity constituting the Purchaser. Section 10. Assumption of Fees, Costs, Etc. The Purchaser acknowledges that for the time period from and after the Effective Date, the Purchaser will be responsible for the payment of all fees, costs and payments, it any, due in accordance with the Density Bonus Agreement and assumed thereunder and first arising during such time period Section 11. Authorization by the Commission. Based upon the representations, warranties and agreements set forth herein, and in material reliance thereon by the Commission,the Commission has authorized the execution of this Agreement and hereby consents to the transfer of the Project to the Purchaser. By executing this Agreement, the Commission acknowledges that all conditions necessary for the approval of the transfer have been satisfied. Section 12. Authority. The signatories to this Agreement represent that they have the requisite capacity and Authority to execute this Agreement and to assume the obligations referenced herein. Section 13. Notices. Any notices regarding this Agreement or the Density Bonus Agreement will be provided to: Seller: Saddlebrook Apartments LLC 625 Court Street Clearwater, Florida 33756 Attn: Thomas C. Nash, II, Esquire 6 11) 16013 And with a copy to: Macfarlane Ferguson& McMullen 625 Court Street Clearwater, Florida 33756 Attention: Thomas C.Nash II, Esquire To Purchaser: Saddlebrook Seven LLC 8685 Saddlebrook Cir, Naples FL 34104 Ph(239) 354-0412 With a copy to: Goede, Adamczyk& DeBoest, PLLC 8950 Fontana del Sol Way Suite 200 Naples, Florida 34109 Attention: John Goede, Esquire To Escrow Agent: First American Title Insurance Company c/o Christopher Lachance 7360 Bryan Dairy Road Suite 200 Largo, Florida 33777 Fax: (727) 549-3422 To Commission: Board of County Commissioners of Collier County,Florida 3299 Tamiami Trail East Naples, Florida 34112 Attention: Chairman With copy to Collier County Attorney's Office 3299 Tamiami Trail East,Suite 800 Naples,Florida 34112 Attn: Jennifer Belpedio,Esquire Section 14. Miscellaneous. This Agreement will be construed in accordance with Florida law and will be recorded at Purchaser's expense in Collier County, Florida. Section 15. Effective Date. This Agreement shall become effective upon the recording of a deed or other instrument conveying the Project to the Purchaser(the"Effective Date"). Section 16. Termination. The Density Bonus Agreement may be terminated on or after March 24,2015 by the execution by the Commission and the Purchaser and the recording of a Termination of Affordable Housing Density Bonus Agreement. The procedure for termination shall be as follows: Purchaser shall submit to the County Attorney' Office an executed Termination of Affordable Housing Density Bonus Agreement in substantially the form attached hereto as Exhibit 7 16 013 the Termination Document are true and correct and that all fees and costs incurred by the County staff in reviewing same have been paid, the County Attorney shall present the Termination Document to the Chairman and Clerk, who shall be authorized to execute the Termination Document without further Commission action. Section 17 Successors and Assigns. This Agreement shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and permitted assigns. Section 18. Counterparts. This Agreement may be executed in counterparts, and all counterparts together shall be construed as one document. Section 19. Governing Law. This Agreement shall be governed by the laws of the State of Florida, without regard to principles of conflicts of law. Section 20. Incorporation of Recitals. The recitals set forth herein are true and correct and are incorporated herein. Section 21. Severability. If any covenant, condition, term, or provision contained in this Agreement is held to be invalid by final judgment of any court of competent jurisdiction, the invalidity of such covenant, condition, term, or provision shall not in any way affect any other covenant, condition,term, or provision contained in this Agreement. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] Signatures on following pages 8 cA(? 16013 COUNTERPART SIGNATURE PAGE FOR THE COMMISSION ASSIGNMENT AND ASSUMPTION OF DENSITY BONUS AGREEMENT (Saddlebrook Apartments Project) IN WITNESS WHEREOF, the Commission, the Current Owner and the Purchaser have executed this Assignment and Assumption of Land Use Restriction Agreement as of the Effective Date. [SEAL] ATTEST: BOARD OF COUNTY COMMISSIONERS OF COLLIER CO NTY, ORIDA By: By: /' i►� Deputy Clerk om Henning, Chai an Printed Name: Approved as to form and legality Assistant County ttorney e'<� 9 CAC) 16D13 1 COUNTERPART SIGNATURE PAGE FOR CURRENT OWNER ASSIGNMENT AND ASSUMPTION OF DENSITY BONUS AGREEMENT (Saddlebrook Apartments Project) Saddlebroo Apartmen s LLC, a Florida limited liabilit.yto pany By: Name•" 1 iir 1 e: Witnesses: 4 ,L4 Printed Name: zinnia! Printed Name: Zinn. r ''%G�`t` .G. STATE OF — l C-V •i(- CC-',,IIP COUNTY OF 1• „ C `' #11*- TI fore i instrument was executed and acknowledged before me this // day of 4/1;te 2014, by , as Manager of Saddlebrook Apartments LLC,the who ex -• .- forng instrument and acknowledged to me that he did such on behalf of the Curr-• •, n- . IN WITNESS WHEREOF, I have hereunto set my .nd and affix:•/my s:.1 the day .nd year in this instrument first above written. NOTARY PUBLI' r .te o Personally Known • a OR Print,Type •r °0.Cgilatteis tm al Produced Identification— Name of N. pce4 03`�4/2015G63361 Type of Identification Produced: My Commission Expires: 6 16013 COUNTERPART SIGNATURE PAGE FOR SADDLEBROOK SEVEN LLC ASSIGNMENT AND ASSUMPTION OF DENSITY BONUS AGREEMENT (Saddlebrook Apartments Project) Saddlebrook Seven LLC, a Florida limited liability company <-7 By: Name: Soleiman Rabanipour Title: Manager Witnesses: Printed Name: L" 1a +N. 1ciyI Printed Name: j(1 L t t-h,1 STATE OF ,Ale yCL tt COUNTY OF e GL • The foregoing instrument was executed and acknowledged before me this J I day of(1770,1 2014, by Soleiman Rabanipour, as Manager of Saddlebrook Seven LLC, the Purchaser, who executed the foregoing instrument and acknowledged to me that he did such on behalf of the Purchaser. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal the day and year in this instrument first above written. NOTARY PUBLIC—State of MEW Personally Known ✓ (Lit UI)I 2(,1 Lu-1 I Ma I1 _ OR Print,Type or Stamp Commissioned Produced Identification_ Name of Notary Public Type of Identification Produced: My Commission Expires:S lq / RACHEL S. ZUCKERMAN NOTARY PUBLIC-STATE OF NEW YORK No. 02ZU6201913 Qualified in New York County .7 My Commission Expires March 09, 2013 dJ 16013 COUNTERPART SIGNATURE PAGE FOR RACH SADDLEBROOK LLC ASSIGNMENT AND ASSUMPTION OF DENSITY BONUSAGREEMENT (Saddlebrook Apartments Project) Rach Saddlebrook LLC, a Florida limited liability company By: !/ f n�✓ Name: David Shweky Aeo, Title: Manager W itne •. ( Printed, ame: �M7 -wE'0 Printed Name: A{_Q!-y'1Q az ci -�-- STATE OF f COUNTY OF cC IN• The foregoing instrument was executed and acknowledged before me this 1 Z. day of 114111- 2014, byDavid Shweky, as Manager of Rach Saddlebrook LLC, the Purchaser, who executed the foregoing instrument and acknowledged to me that he did such on behalf of the Purchaser. IN WITNESS WHEREOF, I have hereunto set myth n and ay t ed m seal t ay/nd year in this instrument first above written. i (- NOTARY PUBLIC-State of ILA-s---1 'Y Personally Known OR Print,Type or Stamp Commissioned Produced Identification Li Name of Notary Public Type of Identification Produced: Oi rvc✓' My Commission Expires: DAVID BAMSHAD NOTARY PUBLIC,State of Ne'. Ye; No.01BA6053972 Qualified in Kings County i Commission Expires Jan. 22,2013 16 013 COUNTERPART SIGNATURE PAGE FOR DAFR SADDLEBROOK LLC ASSIGNMENT AND ASSUMPTION OF DENSITY BONUSAGREEMENT (Saddlebrook Apartments Project) DAFR Saddlebrook LLC, a Florida limited liability company By: M qe Name: David Shweky Title: Manager tlitnesse/ `'anted Name: -- Printed Name: M a r2 2� STATE OF COUNTY OF +r The foregoing instrument was executed and acknowledged before me this (2-day of 2014, by '•livrn <-;Il ly as Manager of DAFR Saddlebrook LLC, the Purchaser, who executed the foregoing instrument and acknowledged to me that he did such on behalf of the Purchaser. IN WITNESS WHEREOF, I have hereunto set rr y hand and affixed>�y s l the day and year in this instrument first above written. NOTARY PUBLIC—kie of Personally Known OR Print,Type or Stamp Commissioned Produced Identification.- Name of Notary Public Type of Identification Produced:jY My Commission Expires: DAVID BAiMSHAU NOTARY PUBLIC,State of NA,:. No.01BA60539?2 Qualified in Kings County Commission Expires Jan.22, 2o j.) 16 013 EXHIBIT A LEGAL DESCRIPTION OF PROJECT 3 '(j OR 4894 PG 1212 16 013 .. 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I�,Iaiilildt i I :x BBC 1 (l1t 7 1 171 I i1ll. 1 7131 5% 11a1.1•di1 `17°17 1i I ° ; r qI 1 1,i11i111lI81 i1 I I�1IG11i8I3 i 11°111111 i ' ill`'1ii, � Bock 1Clark's National Surveyors Network 11, 1 ii1?11b111 i`, I 5//,11677 i ± ii�lji i1 i p 4, N•U•ncvCO•.dtn•tor••111TU1C5MUnd TV.Sum)" nl11 '° fit OR 4894 PG 1213 16013 1 3 •NvrruTTeo' I / 1 I� 57.0 51ao$•t•ri ¢9 + ill1 j{is .> / E� 4 sra a`' tu J' # `i II f � � ' , �i ti' t , irk * qq ,;tfd — w t ca28.••o...'E' rapt; ....... I TOGETHER WITH', I ..j s:°t� g i t!tvifE Miff t{1.itpi''VI a if '°itf ii 1 .k I a Y l I o s I I ill l I I. Iii ill ii . /a it 14 2 �:4a W t 0,4 I ,! ';114 a 5 l IN i "IQ 1 111,1.1 L t tit a. �L--.1R11 .d 1 y 1194 1 SOW..etoa 1 `'— V.� rl [ ., a'7; r af a-- .�p , tie is �t ;ti 8 I_ ' "s A 1 v1 irt�i , 1 leek,, : i1i : r --- f s :::":0.1-1-70:° I 1 I ���r_ I aI 6----: ---i 4 It h'. t I �` 1 I .,1E. . i �i,till: I i '' J ; �i I :tag tSr1 at . i - - , X'li I •'i a I i 1 4l1. r�g i tai ; o--v--------r \1_ ;:y` ;s�• i. M a'2 rT,,.11r 11111k[y7y e[; _ �:— �owx „,a•••• .axt w un w.m.pmr..e r jt . :'S-:..d -t Si a tK11.wr.l u..w.YDI.Wt Z •Off w4t.0IILr•.t0 I lb W o p L.1.1 LLI+W.1q Ot t ea e but YOMYO/•tt II�•N TY WY/u0 Illy cnYwt g� Yvt Y IOC■tO teal ..0 ■• ,\ `I� I !Bock 6 Clark's National Surveyors Network �'•a �a National Coordtnatorso1 AUkaci land Title Surma) _41.7rml4 MK f 1...+.1%/w'•n � _w,t00.✓_r.. 0 16 D13 EXHIBIT B RECORDED COPY OF AFFORDABLE HOUSING DENSITY BONUS AGREEMENT 4 cgo OR 4894 PG 1215 16013 2262326 OR; 2374 PG; 2544 In 'i • . taut 1��ItfitT TIna UCOUID Is Us OI1ICIIL UCORU at 0111111 tONR, 111 use I.N �l(' > 11e1 IT 11111111 at 11:1111 D11GIT 1, IRO,C1,1U • AGREEMENT AUTHORITING AFFORDABLE HOUSING ;,CQyENANTS AND RESTRICTIONS ON REAL,PROPERTY THIS AGREEMENT is made as of the _-�_. clay of b(ii.ulr',t 1 OO7• by and between CEI/Kensington,Ltd., a Florida Limited Partnership,and Colonial Equities, Inc. and Outreach Housing Corporation and the Collier Coun,y Board of County Commissioners(the "Commission"). RECITALS: A. The Developer is the Owner or contrect purchaser of a tract of real property described as(complete legal description)the West'/ of the Southeast'/.of Section 14,Township 49 South, Range 26 East, Collier County, Florida lying South of 1-75; less and except the following: the South 50 feet for Radio Road right-of--u ay and the East 726.00 feet of the West VV of the Southeast '/ of said Section 34(The"Property The legal and equitable owners include James R.,Trustee. It is the Developer's intent to coi struct a maximum of four hundred thirty- eight(438)residential units(the"Units".t-e`si of thirteen(13)units per gross acre on the Property. The gross acreage oV 9. The number of affordable Units constructed by Developer s Il 9''two hundred two(212), ep tenting forty-six percent(46%) of the total number of rest enti.1 Units it end velop ent. B. In order to cos e s .•t)• s.obt•in a density bonus from the N igc•`"• i Cot .• i" Affordable Housing Density "o Commission for the Prop �� 0 Bonus Ordinance No. 90.89Ity ich density bonu -• 1 Gb`e !ranted by the Commission in .1 u. accordance with the strict limi i® said Ordinance., n C. The Commission is ,6 tl� . sity bonus to the Developer authorizing x the construction of two hundred and two(202)bonus Units on the Property, if the Developer agrees to construct affordable Units as specified in thi•;Agreement and the Developer covenants and agrees to use the affordable units only as rental property. NOW,THEREFORE,in consideration of the approval and granting of the density bonus of six(6)units per acre requested by the Developer and the benefits conferred thereby on the Property,and for other good and valuable consideration,the receipt and sufficiency of which are hereby acknowledged,the Developer and the Commission hereby covenant and agree as follows: 1. Recitals.The above recitals are true aid correct and are incorporated herein by reference. 2. Developer Agreements. The Developer hereby agrees that it shall construct two hundred and two(202)affordable Units which Units shall be rented in accordance with the terms and conditions of this Agreement and as specified by the attached Appendix A.Exhibit A and Exhibit B, which Appendix is incorporated by refcrrnce herein and constitutes a part of this Agreement. Units at the Property which are not an affordable Unit("Market-Rate Units")shall 1 OR 4894 PG 1216 1 6 0 1 3 p........■••••••=0.....-------- . . ,1 be exempt from the provisions of this Agreement and may he leased or rented by the Developer on terms and conditions acceptable to the Developer in its sole discretion. Within Pony-five(45) days from the date that notice is received from the Commission, the Developer shall provide on-site management to assure appropriate security, maintenance and appearance of the development and the dwelling Units. a. The following provisions shall be applicable to the affordable Units: (1) Definitions. Any and all definitions provided by Ordinance No. 90-89,as amended,are hereby incorporated by refcrenct•. Phrsing shall mean(a)the phasrd construction of buildings or structures in separate and distinct stages as shown on a PUD mister plan,subdivision master plan or site development plan; or(b)in developments where phastd construction is not depicted on a PUD master plan, subdivision master plan or site development plan,the construction of buildings or structures in a clearly defined series of starts and finishes that are separate and distinct within the development. R.CO (2) �t"CFie monlfl •i ,i_nt for the affordable Units shall be ms in accordance with the rent spew eet-i• •e attached rtppt. dix ,Exhibit A. The monthly rent d .a may be increased each ye r fr. dot• otitis A.r•:ment •s tog as the rent does not exceed b ypr sen s 50 percent (Con very low e. ono-twelfth (1/l2) oC 3 (pie t o 1, income),and 60 percent Cpl ow income of o'1 eta a.p tc.•1 edian adjusted gross annual Lin t. y by artmcnt of Housing and Urban income for the household ished annually b G. Development for the area de the Naples ly r0o)i an Statistical Area (MSA). The foregoing notwithstanding, any ran, _j_8 ordable housing unit rented to a low income or very low income family shall not excad 90 percent of the rent charged for a comparable market rate dwelling in the same or similar development. (3) Median Income. For thr purposes of this Agreement,the median income of the area as defined by the U.S. Departin.mt of Housing and Urban Development (HUD) shall be the then current median income to, the Naples Metropolitan Statistical Area, established periodically by HUD and published in the Federal Register,as adjusted for family size as shown on the tables attached hereto as Appendix A, Exhibit C,which Exhibit shall be adjusted from time to time in accordance with any adjustments that are authorized by HUD or any successor agency. In the event that HUD ceases to publish an established median income as aforesaid,the parties hereto shall mutually agree to mother reasonable and comparable method of computing adjustments in median income. (4) Eligibility and Qualifir.ation of Tenant. Family income eligibility is a three-step process; l)submittal of an application by a prospective tenant; 2)verification of family income; and 3) execution of an income ce,tilication form. All three steps shall be 2 CEO OR 4894 PG 1217 1 6 13 1 3 accomplished prior to a tenant being qualified as an eligible family to rent and occupy un affordable housing unit pursuant to the affordable housing density bonus program. No person shall occupy an affordable housing unit provided under the affordable housing density bonus program prior to being qualified at the appropriate levt I of income(low or very low income)in accordance with this Section. The Developer shall be responsible for qualif,'ing tenants by accepting applications from tenants,verifying income and obtaining income certification for all affordable units in the subject development. All applications,forms and other documentation required by this Agreement shall be provided to the Housing and Urban Improvement irector. Qualification by the Developer of any tenant as an eligible tenant family shall be subject to review and approval in accordance with the monitoring and enforcement program created and adopted by Resolution of the Commission, (a) Application. A pot.ntiul tenant shall apply to the developer, owner, manager, or agent to qualify as a low or very low income family for the purpose of renting and occupying an affordable ors ope5 unit pursuant to the affordable housing density bonus program. The Gin any A�pppllicifitb yt�si ffordable Housing Unit shall be N provided by the Housing an. Ur. • mpr. anent Director sh wn in Appendix B,Exhibit A, attached to this Agreement and n ora t�'�,�ree�a ierei . V ) c���f•)ti i reification. No affordable ,s► housing Unit in the devel•im n all : rent•• s tc J� e household income has not a been verified end certified ordance with this r e et and Ordinance No. 90-89, as amended,as a low or very low cen ily. Tenon ' cOn verification and certification shall be repeated annually to assure continu r31 Fifth — (c) Income Verification. The Developer shall obtain written verification from the potential occupant (including the entire household)to verify all regular sources of income(including the entire household). The most recent year's federal income tax return for the potential occupants(including the entiru household)may be used for the purpose of income verification,if attached to the Affordable Housing Applicant Income Verification form, which includes a statement to release information, tenant verification of the return, and a signature block with the date of application. The verification shall be valid for up to ninety(90) days prior to occupancy, Upon expiration of the 90 day period,the information may be verbally updated from the original sources for an additional'10 days,provided it has been documented by the person preparing the original verification. After this time,a new verification form must be completed. The Affordable Housing Applicant Income Verification form shall be provided by the Housing and Urban Improvement Director as shown in Appendix B,Exhibit B.attached to this Agreement and incorporated by reference herein. 3 (1) OR 4894 PG 1218 16 0 1 3 (d) Income Certification. Upon receipt of the Preliminary Application for Affordable Housing Unit and Affordable Housing Applicant Income Verification form, the Developer shall require that an income cerLificution form shall he executed by the potential tenant(including the entire household)prior ko rental and occupancy of the affordable housing unit by the tenant. Income certification shall assure that the potential occupant has a low or very low household income which qualifies the potential occupant as an eligible family to rent and occupy an affordable housing unit under the affordable housing density bonus program. The Affordable Housing Applicant Income Certification limn shall be provided by the Housing and Urban Improvement Director as shown in Appendix H. Exhibit C, attached to this Agreement and incorporated by reference herein. (e) Rental Agreement. At a minimum, the rental agreement shall include the following; (i) name, address, and telephone numbs of the head of household and all other occupants; (ii) a description of the unit t• re CO.. 7c1 (iii) the term of the lease. •• (iv) the rental amoun, Q. �1� v..,.., (v) the use of the, es ; (vi) monitoring d emo eme t�prtu s1p. inclu•ing isqualification of tenant;and ,s (vii) the rights •o fi aeons attics `3 . 'm fita lion to verily occupancy in Random inspxtio (of a ._.a accordance with this Agree,t�and Ordinance No. N•89,as ded,may be conducted by the 'V O Housing and Urban Improve tO rector. �G (5) Dig. 1. 1fJt •• .." �� the event that tenant qualification is not subsequently confirmed by the Housing an. than Improvement Director or his designee, then such tenant shall be required to vacate the i:ffordable unit. If tenant vacation of the affordable unit is the reswt of an error,omission or misrepresentation made by Developer,tenant shall vacate the affordable unit within thirty (30) Mays and Developer shall pay penalties as provided by the monitoring and enforcement program. If tenant vacation of the affordable unit is the result of a misrepresentation made by the tenant,tenant shall vacate the affordable unit within IS days and shall pay penalties as provided by the monitoring and enforcement program. Such eventuality shall be expressly detailed in the lease agreement between Developer and tenant. (6) Annual Progress and Monitoring Report. The Developer shall provide the Housing and Urban Improvement Director an annual progress and monitoring report regarding the delivery of affordable housing rt ntal units throughout the period of their construction, rental and occupancy. The annual progress and monitoring report shall, at a minimum,provide any information reasonably required to insure compliance with Ordinance No.90-89 or subsequent unendments thereto. The report shall be filed on or before September 4 i() OR 4894 PG 1219 16 D 1 3 . _ , . . • 30 of each year and the report shall be submitted by the Developer to the Housing and Urban Improvement Director.Failure to complete and submit the monitoring report to the Housing and Urban Improvement Director within sixty(60)days front the due dale shall result in a penalty of up to filly dollars(S50.00)per day unless a written extension not to exceed thirty(30)days is requested prior to expiration of the sixty(60)day subn:tssion deadline. No more than one such extension may be granted in a single year. The progresr.and monitoring report shall be in a form provided by the Housing and Urban Improvement Director. (7) Occupancy Restrictions. No Affordable Unit in any building or structure on the Property shall be occup'ed by the Developer, any person related to or affiliated with the Developer,or by a resident manager. 3. Density Bonus. The Commission hereby acknowledges that the Developer has met all required conditions to quality for a density bonus, in addition to the base residential density of seven(7) units per acre, and Is therefore granted a density bonus of six (6)density bonus units per acre, for a total(total��e"LOtj units per acre X gross acreage)of 202 density bonus units,pursuant t.G4 i linty • �' using Density Bonus Ordinance No. 90-89. The Commissi• fu • ; es that the Dev•ape may construct thereon, in the Mil CI aggregate a maximum nu ber of 4 8 u ' o the 1'o ert .ro ded the Developer is able to ..� secure building permit(s) o tier un y. c' co 4. Commissio. cement. luring thole of.� Agreement, the Commission acting through the Housing •, rban ImprovemeA a : I or its successor(s)covenants and agrees to prepare and m: v abler to the e� any general information that it pouesses regarding income limitatt�drsl �s which are applicable to the affordable Unit, 5, Violations and Enforcement a. Violations. It shall be a violation of this Agreement and the Copier County Affordable Housing Density Bonus Ordinarnce to rent,sell or occupy,or attempt to rent, sell or occupy,an affordable housing rental unit provided under the affordable housing density bonus program except as specifically permitted by the terms of this Agreement;or to knowingly give false or misleading information with respect to any information required or requested by the Housing and Urban Improvement Director or by any other persons pursuant to the authority which is delegated to them by the Ordinance. Collier County or its designee shall have full power to enforce the terms of this Agreement. The method of enforcement for a breach or violation of this Agreement shall be at the option of the Commission by criminal enforcement pursuant to the provisions of Section 125.69,Florida Statutes,or by civil enforcement as allowed by law. 5 OR 4894 PG 1220 16 D 1 3 b. Notice of Violation for Code Enforcement Board Proceedings. Whenever it is determined that there is a violation of this Agreement that should be enforced before the Code Enforcement Board,then a Notice of Violation sh.tll he issued and sent by the Housing and Urban Improvement Director by certified retum-receipt requested U.S.Mail,or hand-delivery to the person or developer in violation of the Ordinan"e. The Notice of Violation shall he in writing,shall be signed and dated by the Housing and Urban Improvement Director or such other County personnel as may be authorized by thr Board of County Commissioners, shall specify the violation or violations,shall state that said violations(s)shall be corrected within ten (10)days of the date of the Notice of Violation,and shell state that if said violation(s)is/are not corrected by the specified date in the Notice of Violation,the Housing and Urban Improvement Director shall issue a citation which shall state the date and time of issuance,name and address of the person in violation,date of the violation,Section of this Agreement or of Ordinance No. 90-89 or subsequent amendments thereto violated,mune of the Housing and Urban Development Director,and date and time when th `a r�1�i�arEih ll[ fore the Code Enforcement Board. c. Certific: ••e ceupancy. In the a Ti)th: the Developer fails to maintain C, ent o w h Ordinance No. 90-89, as TV the affordable units in nc••rd: ec�v'h t�titrAgr �, amended, at the option o the • " t• •) e r rtilicates of occupancy, as ,j,. "btu" 5�� v w or of a is • roved unit located or to be applicable,may be withhe• •. located upon the Property u )� e entire project is full cc i cc with this Agreement and with Ordinance No.90-89,as : en. •. ,S 6. Assignment by Co tdjttP•E �thi ion may assign all or part of its obligations under this Agreement to any o cr public agency having iunsdiction oser thr Property provided that it gives the Developer thirty 130) days advance written nowt thereof The Developer may not assign,delegate or otherwise transfer all or part of its dupes.obligaumi, or promises under this Agreement to any successor in interest to the Property without the espress written consent of the Commission,which consent may be withheld for any reason whau"nc' Any attempt to assign the duties,obligations,or promises under this Agreement to any successor in interest to the Property without the express writmn consent of the Commission as it-quirt-it by this Section shall be void ab initio. 7, Severability. If any section,phrase,sentence or portion of this Agreement is for any reason held invalid or unconstitutional by any court of competent jurisdiction,such portion shall be deemed a separate,distinct,and independent provision, and all other provisions shall remain effective and binding on the parties. 8. Notice, Any notices desired or required to be given under this Agreement shall be in writing and shall either be personally delivered or shall be sent by mail,postage prepaid,to the parties at the following addresses: F OR 4894 PG 1221 16913 To the Commission: Housing N Urban Improvement Dept. 2800 N. Naples,Florida 34104 To the Developer: Richard Shaw,Presidt•nt Colonial Equities,Inc. 16200 Dallas Parkwa",Suite 190 Dallas,Tx.75248 Any party may change the address to which notices are+o be sent by ratifying the other party of such new address in the manner set forth above. 9. Authority to Monitor.The parties hereto:rknowicdge that the Director of Collier County Housing and Urban Improvement or his designee shall have the authority to monitor and enforce Developer's obligations hereunder. 10, Indemnify, The Developer hereby agree;to protect,defend,indemnify and hold hamiless from and against any and ull t� Collier County and its officers,empl yL lenses, e, • • fees,including,without limitation. e.� ti,,,claims,penalties,damages,lot G D �� a,, reasonable attorney's fees d litigation nod dg ents arising out of any claim, willful misconduct or n lig , e „ o omit ion, o lia ility of any kind made by o ,d.ntai to the performance of this e..l Developer, its agents or n o ces err st g F� aJr C' ° Agreement. C� tit evelo er agrees •t al ®s obligations hereunder shall gal 11. Covenants. l D 1 onditions w ••i '� run with the land and shall he constitute covenants, restrictio x � binding upon the Property and again T C en having any ownership interest at any time and from time to time until this Agreement is terminated in accordance with Section 14 below. However,the parties agree that if Developer transfers or conveys the Property to another person Or entity,Developer shall have no further obligation hereunder and any person seeking to enforce the terms hereof shall look solely to I)evelope{a successor in interest for the perfornumee of said obligations. 12. Recording. This Agreement shall be recorded at Developers expense in the official records of Collier County,Florida 13. Entire Agreement. The parties hereto agree that this Agreement constitutes the entire Agreement between the parties hereto and shall inure to and be binding upon their respective heirs,successors,and assigns. 14. Termination. Each affordable housing unit shall be restricted to remain and he maintained as the type of affordable housing rental unit(low or very low income)designated in accordance with this Agreement for at least fifteen(15) years front the date of issuance of a 7 �1� ir} OR 4894 PG 1222 16 D 13 . . . . . . . Certificate of Occupancy for such unit. After fifteen t 15)years this Agreement may tcrnrinate upon a date mutually agreed upon by the parties and moist in writing. 15. Modification. This Agreement shall be modified or amended only by the% ritirn agreement of both parties. 16. Discrimination. a. The Developer agrees that neither it nor its agents shall discriminate against any tenant or potential tenant because of said tenants race,color,religion,sex,national origin,familial status,or handicap. b. When the Developer advertises, rents, sells or maintains the affordable housing unit,it must advertise,rent,sell,and maintain the same in a non-discriminatory manner and shall make available any relevant information to any person who is interested in renting or purchasing such affordable housing unit. c, The Developer agrees to be responsible for payment of any real estate commissions and fees assessed in the rentalz)il XFh ssof affordable units. d. The afford4N Stng88 Ufliits` i lopment shall he identified on all building plans submitted t OF) • • and dencrihcd n t e Developer Application for 2 N t�.f Affordable Housing Densit B• u .s. e. The f10 dale •u in I1`e ►-� ed with,and not segregated b from,the market rate dwell nits in the•evelop nt. r •• ��' n of the affordable housing cs""ss f. The p footage, construct •G 8 ■••-• units shall be the same as mark •walling unit:.i ves , lopment. All physical amenities r �ib e,n(7)of the Developer Application for in the dwelling units,as described in e tt Affordable Housing Density Bonus shall be the sane for market rate units and affordable units. For developments where construction takes place in more than one phase,all physical amenities as described in item number seven (7) of the Developer Application for Affordable Housing Density Bonus shell be the same in both the market rate units and the affordable units in each phase. Units in a subsequent phase may contain different amenities than units in u previous phase so long as the amenities for market rate units and affordable units are the same within each phase and provided that in no event may a marl,et rate unit or affordable unit in any phase contain physical amenities less than those describerl in the Developer Application. 17. Phasing. This development is being built in two phases, each having separate financing sources. The legal description of Phase I is attached as Appendix D,with Phase I1 being the remainder of the property. However, the second phase (298 units • northern portion of the site) will commence construction following an approval of an amended PUD, Phase I will consist of 140 units 80%low income at 60°,..of the area median income and 20%at very 8 OR 4894 PG 1223 16 0 1 3 r , , . . . low income at 50%of median income (southern portion of the development). Phase II will consist of 298 units with 62 affordable units(60 units at 50%of the area median income) and two (2) umts at 60% of area median income. This agreement will become effective as to Phase 1 concurrent with Developer's closing on the purchase of the southenr portion of the Property.and will further become of'ctive as to Phase 11 concurrent with Developer's subsequent closing on the northern portion of the Property. In the event Developer fails to close on one or both portions of the Property,that staff will return to the Board of County Commissioners with a new affordable housing agreement as to either or both portions of the Property that failed to close. However, this agreement will supersede any previous Affordable Horsing Density Bonus Agreement approved for this parcel. 18. Disclosure. The developer shall not disclose to persons,other than the potential tenant, buyer or lender of the ei 1. • •a� • sing unit or units, which units in the U development are designated as ousing unr 1'f eat 19. Consistency. Thi nt and a tthorix • d•velopmcnl shall be consistent ,�, with the Growth Managot nt d a• eti• s of Collier County that are .0. in effect at the time of de e t. u.�•u l i_ •opt d a si e d policies shall apply to this 4? N Agreement and to the dev g tent to the extent t t the ar•t.....)�e in conflict with the number, co, N type of affordable housing u :•d the amount of a fa .•.1 using density bonus approved for the development. 0,6 7,II+ C C'\\-'c, 20. Affordable Housing Dens on vetopment Agreement. This Agreement is a distinct and separate agreement from development agreements as defined by Chapter 163.3220. Fla.Stat.(1989)and as amended. 21. Preapplication. Developer has executed and submitted to the Development Services Director the Developer Application for Af fordable housing Density Bonus,a copy of which is attached to this Agreement as Appendix C and incorporated by reference herein. 22, Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. 23. Further Assurances. The parties hereto shall execute and deliver,in recordable form if necessary,any and all documents,certificates,instruments,and agreements which may be reasonably required in order to effectuate the int':nt of this Agreement. Such documents shall include but not be limited to any document requested by the Developer to exhibit that this Agreement has terminated in accordance with the provisions of paragraph 14 above. IN WITNESS WHEREOF,the parties hereto have caused this Agreement to be executed as of the day and year first above written. 9 '1()/ OR 4894 PG 1224 16 013 . . Ar4eST: BOARD OF COUNTY COMMISSIONERS pWIOHT E,BROOK,Clerk COLLIE} COUNTY,FLORIDA` TIM JTHY L.HANCOCK,Chairman /=/7/97 DEVELOPER Witnesses(2): CEI/KENSINGTON,LTD. by: COLONIAL EQUITIES,INC., its (cieral Partner By:� ---- Ricitard Shaw,President Witnesses(2): COLONIAL EQUITIES,INC. By. -. •'chard Shaw,President o ‘�rR C t j ad •With .sea(2): Gp` ?` ^' HOUSIN. qty • ACH CORPORATION c^' / . . ..! ! 111.1110119111114 chi • . 3 n '� •a� C.Rvsdi.,A ARfl 'J s- L tin:VIZ= Cr.* Approved as to form and p legal sufficiency: (� �� L Lk 014 c7 Al L14 Heidi F.Ashton Assistant County Attorney STATE OF )as. COUNTY OF The foregoing Agreement Authorizing Affordable Housing Density Bonus And Imposing Covenants And Restrictions On Real Property was acknowledged before me by Richard Shaw,President of Colonial Equities,Inc.,General partner of CEI/Kensington,Inc.on half of the Corporation. He is personally known to me or has produced as identification. WITNESS my hand and official seal this___day of ,1997 Notary Public My Commission Expires: 10 OR 4894 PG 1225 16 D 13 , . , . . . STATE OF ) )U. COUNTY OF ) The foregoing Agreement Authorizing Affordable Housing Density Bonus And Imposing Covenants And Restrictions On Real Property was acknowledged before me by Richard Shaw,President of Colonial Equities,Inc.,on half of the Corporation. He is personally known to me or has produced as identification. WITNESS my hand and official seal this _day of ,1997, Notary Public My Commission Expires: STATE OF i • 5f.14 )es. COUNTY OF " ' ) The foregoing Agreement Authorizing Affordable Housing Density Bonus d sing Covenants And Restrictions On Real Property was acknowledged before me by Richarddaident of Housing Outreach Co ration on half of the Corporation. He is personally known to me or has produc� ,vt.er-----eikitti c, i,�ao WITNESS my hand d mist seal this o �a , 1997, Fs, n COP. . _i t Notary Public ai My Commission Expires: N r P1 anM rtttt�osr '' ��' wcoaasacrpr,q t6...„ rf &L Oat,22,as i }darddl�brlipt/denbou.g r1-fE CW - it OR 4894 PG 1226 16 0 1 3 , .. RENTAL Appendix A, Exhibit A • . tT allicaTHLY BASE RENTS NUMBER OF UNITS BASE RENT multi Single Single Family Family Family Family LOW INCOME Efficiency 0— 0 "_-.4.'-- ■ 1 Bedroom 0 0 _ ---Q-- 0 96- -_-2--- _61.x.._ 2 Bedroom 0_ 16 - ---p..--- -�.._ 3 Bedroom 4 Bedroom 0— -0 . _-_AL.___ TOTAL 0 _U —. 0 VERY LOW INCOME ' `��I�R CotiA. �� - '° N Efficiency V w 1 Bedroom ---4.--- ". J. • 0_ --ILL__2 Bedroom ; 01i ��n N 3 Bedroom � �_ �, '-" 4 Bedroom 0 • , C TOTAL ) 88 AGO (1) Base rssidentiO b� • in this development 7 units/acre. • (2) Gross acreage +33.79 , (3) allowed inm this od velopmentt,pursuant tonsectionn7s units Ordinance 90-89. 6 unitr./acres. (4) Gross residential density opine (including affordable housing Y units/acre. (y) percentage of affordable unAts pledged by the dsveloper (as a percent of the total number units in the development) _ %. e Amite ere net of utility ellowaaoes. 'deter end sewer utilities provided in listed rent levels. • Page 1 of 4 C.'1. OR 4894 PG 1227 16 0 1 3 . • • . , . . • Appendix A, Exhibit 8 ernonant f' HOUSING DENSITY BL3 RATTHG BYST K Section 7, ordinance No. 90-59, for of a density bonus for developers pledging units within their development. Included in this Exhibit B are instructions for and the tables with which to calculate the density bonus for a particular project. Exhibit C contains the current median income and Collier acceptable rants for low and very low income households The affordable housing density bonus rating system shall be used to determine the amount of the a+'fordable housing density bonus which may be granted for a development based on household income level, number of bedrooms per .affordable housing unit, type of affordable orumulti-family)wand per�centagorofeaffordable single-family housing units rating the development., Tables TA and B, below, shallhbesused. density bonus rshang Y annual A and B rviewed annual basis by First, choose the household income level (mate,tlow, or very low) of the affordable housing unit(s) proposed units development, and the type of afforda)�le housing where (owner-occupied or rental, single-Wan'ilyTorlmulti -fa, ily , whereng applicable) to be provided, . Qti�rooms proposed for the c7 again to Table A, chooss •� � ouaing density bonus ..av affordable housing unit( n income In •• rating based on the h•�d�daa ld income ley ' d the number of m..)w bedrooms is shown in ab ^••' After the alto •a. •, • u rating has been determined in Table A, '- .e is. is ;, an determine the Cag percent of that typ. p ff•r. •1 0e0,g u t proposed in the e.a P .be•_.. ling units in the cr development compare.kb. a . determinatioiT Ta•1 will indicate the m maxemummnum. From t r gross acre that maximum number of ee> • teal ty. Th. ., i tional residential may be added to the b-- -, QQ dwelling units per gro Y•� a are the magA affordable housing density bonus (AHDB) ava • • s • tg:-Ca e(4opmont. Developments with percentages of affor•• • ila sts which fall in between the percentages shown on Tabl B-s receive an affordable it lies i between pluso1/10thuof ah residential tdwelling sunit tpe s per gross acre for each additional percentage of affordable housing rental units in the development. For example, a development which has 24%units and which has iannaffordableihc�usinge density cbonus eratingnof "four" will receive an affordable housing density bonus (AHDB) of 4.4 residential dwelling units per gross acre for the development. levelwofrincome andn number yof bedroomsdshownhinaTablen ased on A) is forpeach typen shall lbem calculated fseparately ini Table n bonus 8. After the affordable housing density bonus calculations for each type of affordable housing unit have been completed in Table B, the affordable housing density bonus for each type of unit shall be added to those for the other type(s) to determine the maximum affordable housing density bonus available for the development. In no e vntwshtaffordable ord gross aousing density bonus exceed eight (8) dwelling units Page 2 of 4 OR 4894 PG 1228 16 0 1 3 .... , . . .. , . Appendix A, Exhibit 6 Wy RIMI T HO 11/12 DrA @ITY 8('" ..e oT.m7?1[l 8Y8TE!{ nA9L.P AUI HS_0_IINS IX o0 q�g RATIHSi Trtlne Af A?i0R- LEVEL ILIIIILIIILDZJIEDEICISAILUNIT OF HOUSEHOLD ETrIC'IENCY 2 3 OR inga 8NLL1. 1448L 0 1+ 1+ MODERANGLE SINGLE-FAMILY) LOW SI GLE-FAMILYEOR MULTI- FAMILY) VERY LOW (OWNER OCCUPIED OR RENTAL, sINOLE- FAMILY OR MULTI- 3 4 5 FAMILY) *For cluster houoingtddevelopments in v.he Urban Coastal Fringe, add 1 density bonus -cciR .C O s TABLE 111 A/ • o •ENaITY BONUS 1111 c„ p., .. •.. FIR .! ..l- •••••_ AFFORDABLE HOUSING •a . •a•C•• •w.= y .•.l .. , 0 11.„I. • N awn VI r a o 1 j s •IP, o 1 q GO s ry e 4 6 .' 711 cI1C. 8 Pluses oaloulate your sde density beaus usyin the space provided below. Attaob additional p 4 Density Bonus was previously calculated at the tins of approval of Saddlabrook Village PIID. • • Page 3 of 4 Fit OR 4894 PG 1229 16D13 `, Appendix A,Exhibit C i IthilihMERAIIINCLU6L Pursuant to the Affordable Housing Density Bonus Ordinrnce,No.9049,moderate income is 81% to 100%of the median income,low income is 51%to 80$a of the median income and very low income is less than 50%of median income, Pursuant to the Impact Fee Ordinances,adopted by the Board of County Commissioners,December 16,1992,moderate income is 61%to 80%of the median btcome,low income is 51%to 60%of the median income and very low income is less than 50%of ttic median income. MEDIAN INCOME 1997 551,300 Naples,MSA(Collier County) NUMBER OF MEMBERS IN FAMILY t 2 3 4 5 6 7 8 100% 35,900 41,000 46,200 51,300 55,300 59,500 63,600 67,700 80% 28,750 32,850 36,950 41,060 44,300 47,600 60,900 54,150 60% 21,540 24,600 27,720 30,780 33,240 35,700 3 ,160 40,620 50% 17,950 20,500 23,100 25,650 27,700 29,750 31,800 33,850 my The Florida Housing Finance A.cn FHFA)calculate:ren to a intt c St proagrunst• The e.a Incentive Loan(SAIL)and th o •1 �!e tat IAc tn1B T �, provided from the County's .o co mots given below are based o 19•7 �t: fr .r ' x,11 �'•Co tier County Housing Section 8 Rental Assistance•rog cliff, Authority. F" CPI HOUS t STS BASED ON 3 °/•F• a` COME et,• :EDROOM 17 6• 10,-; FOUR BEDROOM fP4 ONE BEDROOM UNIT UNR TFTE CIRC 1,15 1,334 1,487 10 962 924 1,067 1,190 80%% 770 $00 893 60% 577 578 667 744 50% 481 UTILITY • 95 137 162 ALLOWANCE 52 ALLOWABLE RENT WITH U TILITIES DEDUCTED ONE BEDROOM TWO BEDROOM THREE UNIT BEDROOM FOUR 1BEDROOM UNIT 1,060 1,197 1,325 • 100% 910 S29 930 1,028 80%% 718 • 663 731 50%% 429 0 525 483 530 582 5 Rsvised 2/97 n4cnv y bonus Page 4 of 4 r1 OR 4894 PG 1230 16 0 1 3 t... • • 0 N W J . E CUUUT tag APPDIY C i Devil-P P- i t is • ~ rd-b1e Housing Density Bonus • OR 4894 PG 1231 16 D 13 • Appendix C Developer Application For Affordable Housing Density Bonus pursuant to the requirements of the Collier County Affordable Housing Density Bonus ordinance No. 90-t'9, Section 6.4, please complete this form and submit it with any accompanying documenta- tion to the Development Services Director, 2800 North Horseshoe the Drive, Naples, Florida 34104. A copy must also be provided Housing and Urban Improvement Director. All items requested must be provided. 1• please state what zoning districts are proposed by the art and the acreage of each; applicant, if any, on the property exietln sonin to 70 ezoninq TJ'` GUested in conjunction 2, Has an appliantio —11 with the affordable us q-d e city bonus Yes . ••li and if the un � If yes, state date f �` ;L Q request has been ap o ed, state the•or.• na.� number —• At r O 13 ropose .p nt• — units/acre. 3. Gross density of �F d d ev�l� P!e:_d � went. 33.79 acres. Gross acreage of the p .t 4. Are affordable housing density bo'ius units sought in conjunction with an application for a planned unit development (PUD)? Yes X No. If yes, please state name and location of the PUD and any other identifying information. • 5. Name of applicant Colonial Byuitiee, Inc. Name of land developer if not the same as applicant Phase I, A lieant• Phu• II, Outreach Houeln; ra_ion. Page 1 of 3 OR 489 4 PG 1232 16 D 13 ■. ,MMINIMIMMENNE•1■11, Appendix C Developer Application For Affordable Housing Density Bonus 6. Please complete the following tables as they apply to tho proposed development. evsi ttmenL TABLE X D owner Type unit of Shit. l 42 221 o— Efficiency °--- One Bedroom 170 _ 0 0 Two Bedroom 242-- Three Bedroom -66 -- other Bedroom TOT71L d36 O XC R •C ,s Bousiaa unit "'tra TABLE II :`i ' -J T• a mmbeeY of Pr-posed Use for • f. dt,,�� n4 'en ity Bonus Units n •avelop-* r.a * Owner.,� a+ QM • 4 ed r.. MODERATE INCOME Ct� 0 Sl �O o 0 Efficiency , -------- ��S r^ 1 Bedroom ' � �' 0 2 Bedroom ---Q-- —?--- 0 7 Bedroom -..4._. -- 0 TOTAL 0 0 Other _-9-- 0 0 0 --• IOW YNCOME 0 Efficiency �_.-0 0 1 Bedroom 0 0- 61 A 0---- 2 Bedroom 96— ---0-- 16 0 7 Bedroom 113—Other --0--- ----1— 0 0 TOTAL 114 0 * Net of utilities. Water and sewer utilities provided in listed rent levels. Page a of 3 OR 4894 PG 1233 16 D 13, , l 1 : . ' . . • ", Appendix C Density Bonus Developer Application For Affordab:s (lousing Y TABLE II (Continued) proposed Use for Total Number of Propose Bonus Affordable Units Dense in Development alata, Owner Baft1l + owner VERY LOW INCOME Efficiency --2----- 1 Bedroom 46 0 -- 2 Bedroom � — � 0 .....1156.-- — 0 3 Bedroom �8 0 _570 o 0 0 — other 0 TOTAL B8 0 sical .e • iption of the affordable units 7, please provide a p h Y ms tit COr Z ncome) and by number of by type of unit (modsrat rVer �IT, N Include in description, r •xample, the square bedrooms. '�'' footage of each type of u •flo•r o erin a sed throughout the ti e, v n 1 �' ` .mod w treatments; Fs) unit (carpeting, ar appliances provided i ' a- wa h , •r e- e ashen, stove, N enities, su .a, ing exhaust fans; and f.refrigerator; bathro• • c�G dditional pages. any other amenities as -pp able. At- l' THE CI1 C 8. Please supply any other in • .a ion which would reasonably bo needed to address this request for an affordable housing density bonus for this development. Attach additional pages. • Net of utilities. Water and sewer w ilities provided in listed rent levels. Page 3 of 3 - OR 4894 PG 1234 16 D 1 3 , • ... SADDLEBROOK AFFORDABLE UNITS Response to Item#7 of Appendix C, Physical Description PHASE I �,..,. �No,of Units Type Square Footage Rent 20 ^ 2 Bedroom/1 Bath 750 _ S515 60 2 Bedroom/2 Bath 880 5618 36 2 Bedroom/2 Bath 900 $618 8 3 Bedroom/2 Bath --_ 1040 $570 16 3 Bedroom/2)3a -- 1040 S703 SMASE-II cp 'r VEMINIMINNII °...."'. .� Rent' No. of Units ..Th.; ` F' 46 /MMO 111• 14 111 0R' IF Ili , $51 S o 2 ,'- *• $618 •GO PH » GO Tr� y G tion of kitchens and baths, which will c? All of the units will be carpeted throw! • ocep have vinyl flooring. Every bedroom and living area will have a ceiling fan with a light kit. The i..s kitchens will include dishwasher, drop-in range, disposal and a refrigerator with an icemaker. tai ON A utility room will contain itt11 size washer/dryer connections and an individual electric hot water heater. All units will have electric central air i:onditioning/heating units. Rents are net of utilities. PodaheoUriSobriaffunit tae • r OR 4894 PG 1235 16 Q 1 3 I ,.I ;;.. ' t� . .• . . 1 . . . . . , . APPENDIX h ' Pag. 1 of ' • ' • THE PALMb • ' • ': i L AL DB II'fSCRION • i• • A pitad of ,la sid, b Suction 34, Township 49 •. .• Raise 26 East, l • t 1b4! l+dest•ootisotir of the West V1 ofthe • • 1/4 of 3sotioo 1 i . .... 34,'foMtosbip 40• ' Illinii,26 East, tun 1'789°43'1 60 Dos of 726.00 94W a diatae>loe of 50,00 Ant to tt e �' t r .' P!a NQO Ol'11"fi a ` :tbetloe Tw NR9143•1 "W a&staaae of 479.52 fbet; t� mires _•i1 . '• ;distant* 61,. l nips 97.61 feet aloof the ago of said oirei a(Wks of ' ' +2QO•OO•tat,• • •saaid of 27°57'44", a ah ttd disarlob df 96.64 !best and a s 'thold • of 'Nl3• '41 � . of t;uytaot,, tttaooe run N27'Sb"33"W a •• • . �' 3►L,�,. 'aEa ara'rre concave•i _ •i 'the ;. �'•,ati vie 4rkeg a radar of•2�• '.M• . Jr.... .b.• 27•32'1 S" a chord` �i • of 95.10 that sod a• 200.00 fleet, s ' ="W ol�oed t�tlaria;• (: •1 r, a .. ...••• ,� .TUr PItiO Z4 1 thence < . %5'42 ; a • 13.12 libet'•t9itsooe of 3 t6. i�.,.. • •tun N00•04'I'` • .. •'r'''•�' • ... n ` ' '39NE a&taros of 1 t' 4° s. ' * 1 + t1,.°°° tun cp '�l,�ft; Fear; e!i j t. , tt dfrtboe of 7d •1 • :2146'19'59"E.ii 1 : ,!71.16, Mttt• •i; fiisr32'54" y a.y .. .. M" tiee;"thews nu • 11'110'40'5'�'E'• a 37.12 Slat; a eos .p :' � ' ,�;IOa2. . . �9s4'0�a d: .• . 11 I t fbet.'a tl 1 of c� t wrty A ai� • . :•.' •• 'CO ,/11 i ' • ii107.10 Sind ' 4: . IRL 1 S :1 1• J r.�' •.,t, 1 '. C otioiZs• Uri v • • ' !Paapd ,11.44 lava,urn or lees, eub3eet to osseesebtii resin and 01 ... •. ' ; I • fitaidi 1.; 'No. 1543 1 I : try ; ;b4 Deal . 1 i • Tt&t Wry 1 r Naples,Noddle 34113•O. •air MEW OR 4894 PG 1236 16 013 r ►rrrrwa► u ; • , • ' � � I.' THE P ALMS . , ,E,GAL DESCRIPTION h i t !:,�� r��tli'i1.f1t� �_Liw :1 w ' .\. ' .. : 1; I' , .. •�J' L • • •1 v " -:+,.5,or ' �, LICIAI ya 7 .. : ..:. . -+ ::...! ' : . • ••! il 1.1 • 1 74 '••-•----", art,.k.(ii E5iviIIIIISLIEf.-}11111 c Sf_ 'ii• ti •' ;' TAE C RC . �: _�__T__JV l , '� ;' �„ P It .qi $T of THE I' 8�iA/4 F l�C• yt, T J9 5, I I' a'+e"w •LI oo' nk ) erviteifisno ' , , •497.32' i1 • • • •••••iltb.■•• • 4 . . .4...301 .. 7. :11".15. jr.,.... II ...... ..0 .i . ..1..........„_.„ noviiiiriincli.f..5...____________ ______....,= . :kZ11111% r•1 "'t:Jug:- . 111114r: . • i. 16 013 EXHIBIT C FORM OF TERMINATION OF AFFORDABLE HOUSING DENSITY BONUS AGREEMENT This Termination of Affordable Housing Density Bonus Agreement is executed as of by the board of County Commissioners of Collier County, Florida (the "Commission") and Saddlebrook Apartments LLC , a Florida limited liability company (the "Current Owner"). WHEREAS, the Current Owner is the assignee of that certain Affordable Housing Density Bonus Agreement dated as of December 9, 1997 as recorded in Official Records Book 2374, Page 2544 of the Public Records of Collier County, Florida, (the "Affordable Housing Density Bonus Agreement"); and WHEREAS, the Current Owner, by its execution hereof certifies, represents and warrants to the Commission that: a. The term of the Affordable Housing Density Bonus Agreement as defined therein ended on (Yl*Pcli.24 , 20 15 and all conditions precedent to the Termination of the Affordable Housing Density Bonus Agreement have been fulfilled. b. All payments of any amounts due under the Affordable Housing Density Bonus Agreement are fully paid and all obligations thereunder have been met. There is currently no default under the Affordable Housing Density Bonus Agreement. WHEREAS, the Commission has authorized the execution and delivery of this Termination of Affordable Housing Density Bonus Agreement; and WHEREAS, by execution of this Termination of Affordable Housing Density Bonus Agreement by both parties, the Affordable Housing Density Bonus Agreement will be terminated as of the date of its recording in the Official Records of Collier County, Florida IN WITNESS WHEREOF, Commission and the Current Owner hereby agree to terminate the Affordable Housing Density Bonus Agreement. [SIGNATURES AND NOTARIES OF THE PARTIES] 5 r/r/) 161313 EXHIBIT "B" TO COUNTY RESOLUTION FORM OF TERMINATION DOCUMENT 6 16013 FORM OF TERMINATION OF AFFORDABLE HOUSING DENSITY BONUS AGREEMENT This Termination of Affordable Housing Density Bonus Agreement is executed as of by the board of County Commissioners of Collier County, Florida (the "Commission") and Saddlebrook Apartments LLC , a Florida limited liability company (the "Current Owner"). WHEREAS, the Current Owner is the assignee of that certain Affordable Housing Density Bonus Agreement dated as of December 9, 1997 as recorded in Official Records Book 2374, Page 2544 of the Public Records of Collier County, Florida, (the "Affordable Housing Density Bonus Agreement"); and WHEREAS, the Current Owner, by its execution hereof certifies, represents and warrants to the Commission that: a. The term of the Affordable Housing Density Bonus Agreement as defined therein ended on m a rill a 4/, 20 /5-and all conditions precedent to the Termination of the Affordable Housing Density Bonus Agreement have been fulfilled. b. All payments of any amounts due under the Affordable Housing Density Bonus Agreement are fully paid and all obligations thereunder have been met. There is currently no default under the Affordable Housing Density Bonus Agreement. WHEREAS, the Commission has authorized the execution and delivery of this Termination of Affordable Housing Density Bonus Agreement; and WHEREAS, by execution of this Termination of Affordable Housing Density Bonus Agreement by both parties, the Affordable Housing Density Bonus Agreement will be terminated as of the date of its recording in the Official Records of Collier County, Florida IN WITNESS WHEREOF, Commission and the Current Owner hereby agree to terminate the Affordable Housing Density Bonus Agreement. [SIGNATURES AND NOTARIES OF THE PARTIES] 5