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Home My WebLink AboutC19-220 Eagle County Housing and Development AuthorityDocuSign Envelope ID: AC7C5867-2797-488C-A087-FE2C0A1DFC42 Eagle County, CO Regina O'Brien Pgs: 3 REC: $0.00 DOC: $0.00 DEED RESTRICTION AGREEMENT FOR THE OCCUPANCY AND RESALE OF MILLER RANCH HOUSING 201909057 06/19/2019 10:28:47 AM THIS DEED RESTRICTION AGREEMENT FOR OCCUPANCY AND RESALE OF MILLER RANCH HOUSING (the "Agreement") is made 6/18/2019 , by Eagle County, Colorado (hereinafter "County) and the Eagle County Housing & Development Authority (hereinafter "ECHDA"), for the benefit of the parties and enforced by Eagle County. RECITALS WHEREAS, by virtue of a Special Warranty Deed recorded on April 26, 2019 in the Office of the Eagle County Clerk and Recorder at Reception number 201905444, ECHDA is the owner of the following described real property: Subdivision: MILLER RANCH FILING 2 Lot: 37 854785 MAP 10-23-03 854786 SIA 10-23-03 856076 DEC 10-31-03 888021 MAP 08-17-04 200617675 DEC 07-05-06, County of Eagle, State of Colorado; also known as 120 Wildcat, Edwards, Colorado 81632 (the "Property"). WHEREAS, the Property is a unit within the Miller Ranch Housing Development where all units are subject to the Deed Restriction Agreement for the Occupancy and Resale of Miller Ranch Housing recorded on October 24, 2003 at Reception 855028 of the records of the Clerk and Recorder of Eagle County, Colorado, and First Amendment thereto, recorded on December 7, 2004 at Reception 899894 of the records of the Clerk and Recorder of Eagle County, Colorado (collectively, the "Deed Restriction Agreement") and Miller Ranch Housing Guidelines adopted by the Eagle County Board of County Commissioners ("Housing Guidelines"); and WHEREAS, in 2013, title to the Property was obtained by the holder of the first deed of trust through the public trustee foreclosure process; and WHEREAS, JP Morgan Chase Bank, National Association, conveyed the Property to ECHDA in April 2019; and WHEREAS, ECHDA wishes to reinstate the Deed Restriction Agreement so as to restrict the acquisition or transfer of the Property to Qualified Buyers, with Maximum Sales Prices and subject to all other restrictions contained in the Deed Restriction Agreement and Housing Guidelines; and WHEREAS, ECHDA wishes to reinstate back to Eagle County, and Eagle County wishes to receive all rights associated with administration and of enforcement of the Deed Restriction Agreement and Housing Guidelines with respect to the Property. · NOW, THEREFORE, for value received, the receipt and sufficiency of which 1s hereby acknowledged, the Parties hereby represent covenant and agree as follows: C19-220 DocuSign Envelope ID: AC7C5867-2797-4BBC-A087-FE2C0A 1DFC42 l. The Property is hereby declared subject to the Deed Restriction Agreement and Housing Guidelines, and all terms, conditions and restrictions contained therein for all future sales of record. 2. This Agreement shall constitute covenants running with the Property, as a burden thereon, for the benefit of, and shall be specifically enforceable by Eagle County, Colorado through its Board of County Commissioners, its designee, its successors and assigns, as applicable, by any appropriate legal action including but not limited to specific performance, injunction, reversion, or eviction of non-complying future owners and/or occupants . 3. ECHDA intends to sell the Property through the resale procedures to a Qualified Buyer under the Deed Restriction Agreement and intends that the Qualified Buyer, and all buyers thereafter will be subject to all restrictions and requirements contained in the Deed Restriction Agreement and Miller Ranch Housing Guidelines. 4. Choice of Law. This Agreement and each and every related document is to be governed and construed in accordance with the laws of the State of Colorado. 5. Successors. Except as otherwise provided herein, the provisions and covenants contained herein shall inure to and be binding upon the heirs, successors and assigns of the parties. 6. Section Headings. Paragraph or section headings within this Agreement are inserted solely for convenience or reference, and are not intended to, and shall not govern, limit or aid in the construction of any terms or provisions contained herein. 7 . Waiver. No claim of waiver, consent or acquiescence with respect to any provision of this Agreement shall be valid against any party hereto except on the basis of a written instrument executed by the parties to this Agreement. However, the party for whose benefit a condition is inserted herein shall have the unilateral right to waive such condition. 8. Gender and Number. Whenever the context so required herein, the neuter gender shall include any or all genders and vice versa and the use of the singular shall include the plural and vice versa. 9. Personal Liability. Any subsequent Owner, as that term is defined in the Deed Restriction Agreement, agrees that he or she shall be personally liable for any of the transactions contemplated herein. l 0. Further Actions. The parties to this Agreement agree to execute such further documents and take such further actions as may be reasonably required to carry out the provisions and intent of this agreement or any agreement or document relating hereto or entered into in connection herewith. 11. Modifications. The parties to this Agreement agree that any modifications of this Agreement shall be effective only when made by writings signed by both parties and recorded with the Clerk and Recorder of Eagle County, Colorado. Notwithstanding the foregoing, the DocuSign Envelope ID: AC7C5867-2797-488C-A087-FE2C0A 1 DFC42 County reserves the right to amend this Agreement unilaterally where deemed necessary to effectuate the purpose and intent of this Agreement, and where such unilateral action does not materially impair the Owner's rights nor any lender's rights under this Agreement. IN WITNESS WHEREOF, the parties hereto have executed this instrument on the day and year above first written. Attest: DocuSlgned by: By: ___ ·IM-_IJ-_'_bvi_._UA, _____ _ Re l@~IDt!tt!'fll,°Clerk to the Board Attest· By: .IM-/J-'17viUA, R · 11)@2Bl8~,-Clerk to the Board EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY By:£5=~ M~ney, Chair EAGLE COUNTY '