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S Grant Agreement Housing Trust Fund – Approve Transfer of Appropriation
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S Grant Agreement Housing Trust Fund – Approve Transfer of Appropriation
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Last modified
7/11/2017 11:38:40 AM
Creation date
4/3/2012 2:34:51 PM
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BOCC
Date
6/4/2002
Meeting Type
Regular Meeting
Document Type
Agreement
Agenda Item
8j
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Agenda - 06-04-2002 - 8j
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\Board of County Commissioners\BOCC Agendas\2000's\2002\Agenda - 06-04-2002
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event of the failure or default of the Lessor in the ground lease to insure the long term <br /> affordability of the housing unit as provided for in the ground lease, exercise all rights and <br /> remedies available to the Lessor in the ground lease for that purpose. <br /> b. OCHLT covenants that it will not knowingly take or permit any action that would result <br /> in a violation of the affordability requirements of the GRANT AGREEMENT. Orange County, <br /> together with any future owner of the Property may execute and record any amendment or <br /> modification of this Declaration necessary to insure the successful completion of the Project and <br /> the long term affordability (at least 99 years) of the housing units on the Property and such <br /> amendment or modification shall, to the extent permitted by law, either relate back to the date of <br /> recording of this Declaration or not as necessary to carryout the intent of this Declaration, and <br /> be binding on third parties granted rights under this Declaration. OCHLT expressly covenants <br /> and agrees to rerecord this Declaration periodically and no less often than one day less than <br /> every 30 years from the date hereof for the purpose of renewing the Lessor's option to purchase <br /> and right of first refusal, that are contained in the Exhibit C ground lease, in the Property or <br /> portion thereof including any leasehold interest in the Property or portion thereof. <br /> C. OCHLT acknowledges that the primary purpose for requiring compliance by OCHLT <br /> with restrictions provided in this Declaration is to assure compliance with the long term <br /> affordability requirements of the HOME Investment Partnership Program, AND BY REASON <br /> THEREOF, OCHLT, IN CONSIDERATION FOR RECEIVING HOME INVESTMENT <br /> PARTNERSHIP PROGRAM FUNDS FOR THE PROPERTY, HEREBY AGREES AND <br /> CONSENTS" THAT ORANGE COUNTY SHALL BE ENTITLED, FOR ANY BREACH OF <br /> THE PROVISIONS HEREIN, AND IN ADDITION TO ALL OTHER REMEDIES PROVIDED <br /> BY LAW OR IN EQUITY, TO ENFORCE BY SPECIFIC PERFORMANCE OCHLT'S <br /> OBLIGATIONS UNDER THIS DECLARATION IN A STATE COURT OF COMPETENT <br /> JURISDICTION, WITH VENUE IN ORANGE COUNTY. OCHLT hereby further specifically <br /> acknowledges that the beneficiaries of OCHLT's obligations hereunder cannot be adequately <br /> compensated by monetary damages in the event of any default hereunder. If legal costs are <br /> incurred by Orange County, such legal costs, including attorney fees and court costs (including <br /> costs of appeal), are the responsibility of, and may be recovered from the OCHLT. <br /> SECTION 5 MISCELLANEOUS <br /> a. Severability. The invalidity of any clause, part, or provision of this Declaration shall not <br /> Affect the validity of the remaining portions thereof. <br /> b. Notices. Any Notice shall be in writing and shall be given by depositing the same <br /> in the United States mail, post-paid and registered or certified, and addressed to the party to be <br /> notified, with return-receipt requested, or by delivering the same in person to an officer or <br /> principal of such party. Notice deposited in the mail in the manner herein above described shall <br /> be effective upon mailing. For purposes of Notice, the addresses of the parties shall, unless <br /> changed as hereinafter provided,be as follows: <br /> i. To the County: Orange County <br /> c/o Housing and Community Development Department <br /> 4 <br />
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