Docs 20182010897 SECOND AMENDMENT TO DECLARATION OF LAND USE RESTRICTIVE COVENANTS FOR LOW-INCOME HOUSING CREDITS THE STATE OF TEXAS § § COUNTY OF NUECES § This Second Amendment to Declaration of Land Use Restrictive Covenants for LowIncome Housing Credits (“Second Amendment”) is executed to be effective as of February 25, 2016, and is by and between CIMARRON ESTATES, LTD., a Texas limited partnership (together with its successors and assigns, the “Project, Owner”) and the TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS, a public and official agency of the State of Texas (together with any successor to its rights, duties and obligations, the “Department’).
WITNESSETH: WHEREAS, Project Owner and Department executed that certain Declaration of Land Use Restrictive Covenants For Low-Income Housing Credits (the “Declaration”), dated October 18, 1999, which was recorded on December 16, 1999 under Instrument #1999055015 of the Official Public Records of Nueces County, Texas (the “Records”), upon and against the real property more particularly described in Exhibit “A” attached hereto and made a part hereof; WHEREAS, the Declaration was amended by that certain First Amendment\ to Declaration of Land Use Restrictive Covenants for Low-Income Housing Tax Credits (the“First Amendment”) dated effective February 25, 2016, which was filed and recorded on June»1, 2017 under Document #2017022960 of the Records andwhich amended several parts of the Declaration, including Appendix A — Additional Use Restrictions — Right of FirstRefusal. The Declaration and the \First Amendment, collectively hereinafter, shall be known as the “Declaration”; WHEREAS, Project Owner requested approval from Department to further amend
ght of FirstRefusal. The Declaration and the \First Amendment, collectively hereinafter, shall be known as the “Declaration”; WHEREAS, Project Owner requested approval from Department to further amend Appendix A — Additional Use Restrictions — Right of First Refusal (“Appendix A”) of the Declaration to revise language set forth therein, and Department approved such request; WHEREAS, it is the desire and intent of Project Owner and Department that the amendments herein do not affect the rights of any past, present or prospective tenants of the development or private parties tocenforce development restrictions pursuant to Section 2306.185(d) ofsthe Texas Government Code and Section 2306.6720°of the Texas GovernmentCode, as applicable.
NOW, THEREFORE, for and in consideration of the mutual covenants and representations herein contained, the receipt and sufficiency of which are hereby acknowledged by Department, Project Owner and Department agree as follows: Page 1 of 7 1. Appendix A of the Declaration is hereby amended to read as set forth in Exhibit “B” attached hereto and made a part hereof; 2. Each capitalized term not expressly defined herein shall have the meaning given to such term in the Declaration.
a All of the remaining terms and provisions of the Declaration, including the addendums and appendices, shall be and remain in full force and effect and the parties hereto agree that all rights, duties and obligations contained in the Declaration are hereby ratified, confirmed, renewed and brought forward.
4. This Second Amendment shall be binding upon the parties hereto and their respective successors and assigns.
contained in the Declaration are hereby ratified, confirmed, renewed and brought forward.
4. This Second Amendment shall be binding upon the parties hereto and their respective successors and assigns.
[Remainder of page intentionally left blank. Signatures begin on next page.] Page 2 of 7 IN WITNESS WHEREOF, Project Owner and Department have executed this’ First Amendment to be effective-as of the day and year first above written.
PROJECT OWNER: partnership By: Picerne Cimarron Estates, LLC, a Florida limited liability company, its General Partner By: Name: Robert’M. Picerne Title: Manager THE STATE OF FLORIDA § by Robert M. Picerne, Manager of Picerne Cimarron Estates, LLC, a Texas limited liability company, General Partner of CIMARRON ESTATES, LTD., a Texas limited partnership, on behalf of said company and limited partnership, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me ‘that the same was the act of said limited partnership, and that heexecuted the same as the actof such limited partnership for the purposes and consideration therein addressed and in the capacity therein stated.
MICHELE LYNNE Vicg Public ~ State of Commission # FF ‘sien i. Expires Oct 30, 201g Notary Public, County of State of Florida My commission expires: Page 3 of 7 THE STATE OF TEXAS § § DEPARTMENT:
commission expires: Page 3 of 7 THE STATE OF TEXAS § § DEPARTMENT: TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS, a public and official agencyof the State of Texas By: Name: orales Title: Duly authorized officer or representative This instrument was acknowledged before me on this ge day of _(Ylarch ‘ 2018, by Raquel Morales, Director of Asset Management, duly authorized officer or representative of the TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS, a public and official agency of the State of Texas, on behalf of said entity.
Lae ANN CHANCE | Gee Se ae Public, State of Texast Ay) ceteas | ‘ hase My Conmieven Exe 26/2024} PREPARED BY: Texas Department of Housing and Community Affairs Legal Services 221 East 11™ Street Austin, Texas 78701 (512) 305-9005 Notary Public, State:of Texas AFTER RECORDING RETURN TO: Texas Department of Housing and Community Affairs P.O. Box 13941 Austin, Texas 78711-3941 Attn: Mitch Bowman, Asset Management Page 4 of 7 EXHIBIT “A” LEGAL DESCRIPTION All of Lot Nine (9), Block Six (6), BENT TREE UNIT 2, a Subdivision to the City of Corpus Christi, Nueces Country, Texas, as shown by the map or plat thereof recorded in Volume 58, Page 175, Map Records of Nueces County, Texas; ssid 11.384 acre tract being more fully described ay folipws: ; BEGINNING at 5/8 inch iron rod found on the Southeast boundary of Cimarron Boulevard, an 80.00 foot wide public roadway, for the North corner of Lot 3C, Block 6, Bent Tree Unit 2,
cribed ay folipws: ; BEGINNING at 5/8 inch iron rod found on the Southeast boundary of Cimarron Boulevard, an 80.00 foot wide public roadway, for the North corner of Lot 3C, Block 6, Bent Tree Unit 2, a mapvof which is recorded in Volume 57, Page 82, Map Records of Nueces County, Texas; forthe West comer of said Lot 9 and for the West corner of this tract of land; THENCE North 29 degrees 00 minutes 00 seconds East, with the Southeast boundary of Cimarron Boulevard, same being the Northwest boundary of said Lot 9, a distance of 799.83 feet to a 5/8 inch iron rod with aluminum cap set for. the North corner of said Lot 9-and for the North corner of this tract; .
THENCE South 60 degrees 56 minutes 36 seconds East with the Southwest boundary of a 110.00 foot wide City of Corpus Christi drainage right-of-way, same being the Northeast boundary of said Lot 9 and of this tract, at 0.23 feet pass 2 bent 3/8 inch iron rod found on line, and continuing South 60 degrees 56 minutes 36 seconds East, in all a total distance of 620.00 feet to a 5/8 inch iron rod with aluminum cap set for the North corner of Lot 7, Block 6, Bent Tree Unit 2, a map or which is recorded in Volume 53, Page. 1, Map Records of Nueces County, Texas, for the East corner of said Lot 9 and for the East corner of this tract; THENCE South 29 degrees.00 minutes 00 seconds West, with the common boundary of said Lots 9 and 7, of said Lot.9:and Lot 8, Block 6, Bent Tree Unit 2, a map of which isirecorded in Volume 53, Page 1,(Map Records of Nueces County, Texas, same being the Southeast boundary of this tract,) at 799.69 feet pass a 5/8 inch iron rod found on line, ‘in all a total distance of 799.84 feet for the common corner of said Lot 9, Lot 3C, Lot 8 and Lot 5-A, Block
Southeast boundary of this tract,) at 799.69 feet pass a 5/8 inch iron rod found on line, ‘in all a total distance of 799.84 feet for the common corner of said Lot 9, Lot 3C, Lot 8 and Lot 5-A, Block 6, Bent Tree Unit 2, a map of which is recorded in Volume 58, Page 109, Msp Raconts of Nueces County, Texas and for the South corner of this tract; THENCE North 60 degrees 56 minutes 35 seconds West, with the common boundary of said Lots 9 and 3C, sainie being the Southwest boundary of said Lot 9 and of this tract, 620.00 feet to the POINT OF BEGINNING and containing 11.384 acres of land.
Page 5 of 7 EXHIBIT “B” APPENDIX A TO DECLARATION — ADDITIONAL USE RESTRICTIONS — AGREEMENT. TO OFFER A RIGHT OF FIRST REFUSAL AGREEMENT TO THE PROVISION OF RIGHT OF FIRST REFUSAL TO QUALIFIED ENTITIES The Project Owner has entered into an Agreement for the Provision of the Right of First Refusal (“ROFR”) with the Department, the terms of which are further outlined below, and in Chapter 2306 of the Texas Government Code, and in Title 10, Part 1, Chapter 10 of the Texas Administrative Code.
Project Owner agrees to the following terms to complete the ROFR process: L If at any time after the ‘fifteenth year of the Compliance Period, the Project Owner determines to sell the Project, a notice of intent to sell the Project (“Notice of Intent”) shall be given to the Department and the tenants of the-Project and this Right of First Refusal Agreement shall sérve as evidence that the Project Owner agrees to provide.to a “Qualified Entity” (as defined in Section 2306.6726(d)(2) of the Texas Government Code), a ROFR to
ight of First Refusal Agreement shall sérve as evidence that the Project Owner agrees to provide.to a “Qualified Entity” (as defined in Section 2306.6726(d)(2) of the Texas Government Code), a ROFR to purchase the Project in accordance with the “Minimum Purchase Price” (as defined in Section42(i)(7)(B) of the Code).
2. o (Only applicable if the box is checked.) The Project Owner has entered into an agreement with a specific Qualified Entity (or tenant organization) providing for a right of first refusal. The Qualified Entity or tenant organization will be . In the event that this organization is not operating when the Project Owner determines to sell the Project, the right of first refusal must be provided in accordance with this Appendix A: 3. The Project Owner shall provide a Notice of Intent to’the Department and to such other parties as the Department may direct at that time. The Notice of Intent?shall be accompanied by such information as the Department shall reasonably request» The Right of First Refusal Period (“ROFR Period”) shall:commence upon the Department's official posting of the Project for sale at the Minimum Purchase Price.
4, During the 180 days after the Project has commenced the ROFR Period, the Project Owner may negotiate or enter into an agreement to sell the Project only with parties in the following order of priority: a. during the first 60 days of the ROFR Period, only with a Qualified Entity that is also a community housing development organization, as defined for purposes of the federal HOME Investment Partnerships Program at 24 C.F.R. §92.2 (a "CHDO") approved) by the Department as aoCHDO, or a Qualified Entity controlled by a CHDO approved by the Department; b. during the second 60 days of the ROFR Period, only with a Qualified Entity that:
CHDO") approved) by the Department as aoCHDO, or a Qualified Entity controlled by a CHDO approved by the Department; b. during the second 60 days of the ROFR Period, only with a Qualified Entity that: (i) is described in Section 2306.6706 of the Texas Government Code; (ii) is controlled by an entity described in Section 2306.6706 of the Texas Government Code; or Page 6 of 7 Cc.
(iii) is a tenant organization; and during the last-60 days of the ROFR Period, with any other Qualified‘Entity and approved bythe Department.
5. After (i) the Project Owner's submission of “Notice of Intent, (ii) the Department's posting of the Project for sale pursuant to the Right of First Refusal, and (iii) expiration of the ROFR Period, the Project Owner may sell the Project without regard to any Right of First Refusal established by this Declaration if: a. the Project Owner does not receive any bona fide offers from a Qualified Nonprofit b.
Organization or Qualified Entity during the ROFR Period; a bona fide offer from a Qualified Nonprofit Organization or Qualified Entity is received at or above the posted ROFR offer price during the ROFR Period; ‘the Project Owner accepts the offer, the Qualified Nonprofit Organization or Qualified Entity fails to-close the purchase, the failureds determined to not be the-fault of the Project Owner, and the Project Owner received no other bona fide:offers from a Qualified Nonprofit Organization or Qualified Entity during the ROFR Period; a bona fide offer from a Qualified Nonprofit Organization or Qualified Entity is received at or above the posted ROFR offer price during the ROFR Period, the
r Qualified Entity during the ROFR Period; a bona fide offer from a Qualified Nonprofit Organization or Qualified Entity is received at or above the posted ROFR offer price during the ROFR Period, the Qualified Nonprofit Organization or Qualified Entity is not approved by the Department during the ownership transfer review due to issues identified during the Previous Participation Review process, and the Project Owner received no other bona fide offers from a Qualified Nonprofit Organization or Qualified Entity during the ROFR Period; or an offer from a Qualified Nonprofit Organization or Qualified Entity is received at a price below the posted ROFR offer price during the ROFR Period, and the-Project Owner received’no other bona fide offers from a Qualified Nonprofit Organization or Qualified“Entity during the ROFR Period at or above the posted“ROFR offer price.
Page 7 of 7 Ad Unofficial Copy Ad Fedex Locke Lord LLP Unofficiteou stin, TX.
Copy Congress Avenue, stezzoo Un0070/ Unofficial Copy // Unofficial Copy Unofficial Copy Doct 2018010897 + Pases 8 03/13/2018 10:25AM Official Records of NUECES COUNTY KARA SANDS ppy COUNTY CLERK Fees ff00 fficial Copy Any provision herein which restricts the Sale, Rental or use of the described REAL PROPERTY because of Race, Color, Religion, Sex, Handicap, Familial Status, or National Origin is invalid and unenforceable under FEDERAL LAW, 3/12/89.
STATE OF TEXAS COUNTY OF NUECES I hereby certify that this instrument was FILED in file number sequence on the date and at the time stamped herein by me, and was duly RECORDED in the Official Public Records of Nueces County, Texas KARA SANDS Unoff Kara Unofficial Copy Ado Ado Unc
in file number sequence on the date and at the time stamped herein by me, and was duly RECORDED in the Official Public Records of Nueces County, Texas KARA SANDS Unoff Kara Unofficial Copy Ado Ado Unc Unc Unofficial Copy Ung Ung