D224073169 Page: 1 of 3 04/29/2024 04:08 PM Fee: $28.00 Electronically Recorded by Tarrant County Clerk in Official Public Records Submitter: Alamo Title Company - DFW Mary Nicholson MARY LOUISE NICHOLSON COUNTY CLERK ALAMO TITLE COMPANY GF 6000158400094.RE 2024 DEED RESTRICTIONS (Homebuyer Equity Leverage Partnership Program) FHLBANK DALLAS Member FHFA ID Number THE STATE OF TEXAS COUNTY OF TARRANT The undersigned, Rocio Angeles (Owner), is the owner of certain real property and improvements located at 1417 E. Richmond Ave in Fort Worth, Tarrant County, TX, and more particularly described on Exhibit A attached hereto and incorporated herein for all purposes (the 'Property”). For value received, the adequacy and-sufficiency of which are hereby acknowledged, Owner does hereby impress the Property with the following deed restrictions: 1. For purposes of these restrictions, the following terms have the meaning indicated: "Bank" means the Federal Home Loan Bank of Dallas "Direct Subsidy" means the amount funded by the Bank for the benefit of Owner, for the purpose of assisting Owner in the purchase, construction, or purchase in conjunction with rehabilitation of the Property, which Direct Subsidy shall not exceed $20,000.00.
"HELP" means the Homebuyer Equity Leverage Partnership Program of the Bank.
"Low- or Moderate-Income Household" means a household that has an income of 80% or less of the median income for the area, with the income limit adjusted for household size in accordance with the methodology of the applicable median income standard selected from those enumerated in the definition of “median income for the area," as defined at 12 CFR 1291.1, unless such median income standard has no household size adjustment methodology.
standard selected from those enumerated in the definition of “median income for the area," as defined at 12 CFR 1291.1, unless such median income standard has no household size adjustment methodology.
"Retention Period” means a period of five (5) years beginning on April 26, 2024.
2. The Bank's Community Investment Department is to be given notice of any sale, transfer, assignment of title or deed, or refinancing of the Property by the household occurring prior to the end of the Retention Period.
3. In the event of a sale, transfer, or assignment of title or deed during the retention period, the selling Owner shall repay to the Bank an amount equal to the lesser of: (i) a pro rata share of the direct subsidy, reduced by 1/60 for every month the seller owned the Property, or (ii) any net proceeds realized upon the sale, transfer, or assignment of title or deed of the Property, minus the HELP-assisted household's investment, unless the purchaser, transferee, or assignee is a low-or moderate-income household, or the amount subject to repayment is $2500 or less.
4. In the event of a refinancing during the retention period, the household shall repay to the Bank an amount equal to the lesser of: (i) a pro rata share of the direct subsidy, reduced by 1/60 for every month the occupying household has owned the Property, or (ii) any net D224073169 Page 2 of 3 proceeds realized upon the refinancing minus the HELP-assisted household's investment, unless the Property continues to be subject to a deed restriction or other legally enforceable retention agreement or mechanism described in this paragraph; or the amount subject to repayment is $2,500 or less.
5. This instrument and these deed restrictions are subordinate to any valid outstanding lien
n agreement or mechanism described in this paragraph; or the amount subject to repayment is $2,500 or less.
5. This instrument and these deed restrictions are subordinate to any valid outstanding lien against the Property currently of record. Foreclosure of such prior recorded lien, deed-inlieu of foreclosure of such prior recorded lien, assignment of such prior recorded lien of a Federal Housing Administration first mortgage to the Secretary of Housing and Urban Development, or death of the HELP-assisted homeowner shall extinguish this instrument and these deed restrictions; however, the Bank's Community Investment Department is to be given notice of any foreclosure of the Property that occurs during the Retention Period.
6. Owner understands and agrees that this instrument shall be governed by the laws of the State of Texas and that venue for any action to enforce the provisions of this instrument shall be in Tarrant County.
Executed this April 26, 2024.
Rangell: 04-04-0 Signature Rocio Angeles Unofficial C STATE OF TEXA COUNTY OF The foregoing instrument was acknowledged before me this Angeles Notary Public 26 day of [Sign Originals Only] April 2024 by Rocio , ROBIN ROGERS Notary Public, State of Texas Comm. Expires 02-01-2028 Notary ID 10431231 TATE OF NOTARY OF TEXAS * UBLIC 2 D224073169 Exhibit A Description of Property Being Lot 25, in Block 59, of Highland Park, an Addition to the City of Fort Worth, Tarrant County, Texas, according to the Map or Plat thereof recorded in/under Volume 310, Page 60, Map Records, Tarrant County, Texas.
Unofficial Copy 3 Page 3 of 3