Doc# 20220277280 11/30/2022 08:43 AM Page 1 of 4 Lucy Adame-Clark, Bexar County Clerk envision THe CELE lau.
DECLARATION OF RESTRICTIVE COVENANT OF AFFORDABILITY Marie WF RUBEN ALDAIR LARA and VICTORIA MARTA DURAN (DECLARANTS”’) make this Declaration of Restrictive Covenant of Affordability (this “Restrictive Covenant’) to assure the long-term use of the real property described herein.
1. DECLARANTS are the record owners of the real property located at 4405 Canary Bend, in the City of San Antonio, Bexar County, Texas, and as more particularly described as follows: Lot 7, Block 2, New City Block 17676, Pecan Valley Heights Subdivision, Unit 2, a subdivision, in the City of San Antonio, Bexar County, Texas according to the map or plat thereof recorded in Volume 9540, Page 188, Deed and Plat Records, Bexar County of Texas (the “Property”).
2. In consideration of a partially perpetual and partially forgivable loan to DECLARANTS in the amount of Fifteen Thousand and 00/100 Dollars ($15,000.00) (the “Loan’) from the City of San Antonio (the “CITY”) for the purpose of providing, as applicable, closing costs, pre-paid interest, and down payment assistance to purchase the Property, DECLARANTS, on behalf of DECLARANTS and DECLARANTS’ successors and assigns, hereby agree to restrict the use of the Property in the manner and for the period of time set forth herein.
3. DECLARANTS, on behalf of DECLARANTS and DECLARANTS’ successors and assigns, do hereby adopt and impose on the Property the following conditions, covenants, and restrictions, which shall be a covenant running with the land and shall be binding upon any purchaser, grantee, owner, or lessee of any land or building on the Property, and each of their
venants, and restrictions, which shall be a covenant running with the land and shall be binding upon any purchaser, grantee, owner, or lessee of any land or building on the Property, and each of their respective heirs, executors, administrators, devisees, successors, and assigns: 3.1 For a continuous period of five (5) years after the date of recordation of this instrument (the “Affordability Period’), the Property shall be continuously occupied by DECLARANTS and maintained as DECLARANTS’ principal place of residence; 3.2 In the event of a voluntary or involuntary sale of the Property during the Affordability Period, CITY shall be entitled to recapture from DECLARANTS or DECLARANTS’ | successor(s)-in-title the amount outstanding on the Loan; provided, however, repayment of such recapture amount shall be limited fo the amount of proceeds remaining after any superior loans and closing costs are deducted from the sale proceeds; and 3.3. In the event that the Property is not sold but DECLARANTS cease to occupy the Property as DECLARANTS principal residence during the Affordability Period, CITY shall be entitled to and owed by DECLARANTS or DECLARANTS’ successor(s)-in-title the entire outstanding Loan amount as of the date DECLARANTS ceased to occupy the Property as DECLARANTS’ principal residence.
Doc# 20220277280 11/30/2022 08:43 AM Page 2 of 4 Lucy Adame-Clark, Bexar County Clerk 4. Violation of this Restrictive Covenant shall give the City the right to institute any proceeding at law or equity to recover any sum due to CITY under the terms of this Restrictive Covenant. [If CITY institutes an action to recover any such sum, DECLARANTS and DECLARANTS’ successor(s)-in-title agree to pay all costs of collection, including any court costs and reasonable attorneys’ fees,
[If CITY institutes an action to recover any such sum, DECLARANTS and DECLARANTS’ successor(s)-in-title agree to pay all costs of collection, including any court costs and reasonable attorneys’ fees, 5. Every individual or entity who now or hereafter owns or acquires any right, title, or interest in or to any portion of the Property is and shall be conclusively deemed to have consented and agreed to this Restrictive Covenant, whether or not any reference to this Restrictive Covenant is contained in the instrument by which the Property was conveyed to such individual or entity.
6. This Restrictive Covenant shall be binding upon the undersigned party and all successive owners of the Property or any part thereof. Whenever in this Restrictive Covenant a reference is made to a party, such reference shall be deemed to include a reference to the heirs, executors, legal representatives, successors, and assigns of such party. This Restrictive Covenant may not be withdrawn, modified or amended without the written consent of CITY.
7. In the event of foreclosure or deed in lieu of foreclosure of a prior security deed or security interest, any provisions herein or any provisions in any other collateral agreement restricting the use of the Property or otherwise restricting the DECLARANTS’ ability to sell the Property shall have no further force or effect. Any individual or entity (such individual’s or entity’s successors or assigns) receiving title to the Property through a foreclosure or deed in lieu of foreclosure of a prior security deed shall receive title to the PHOpENy free and clear from the restrictions set forth herein.
ADOPTED this 22 day of [loverubey? , 2022, f RUBEN ALDAIR LARA By: VICTORIA [A DURAN BIE NY RL Dre
curity deed shall receive title to the PHOpENy free and clear from the restrictions set forth herein.
ADOPTED this 22 day of [loverubey? , 2022, f RUBEN ALDAIR LARA By: VICTORIA [A DURAN BIE NY RL Dre Deciaration of Restrictive Covenant of Affordability v.1 (11/07/2022) Doc# 20220277280 11/30/2022 08:43 AM Page 3 of 4 Lucy Adame-Clark, Bexar County Clerk (ACKNOWLEDGMENTS) STATE OF TEXAS § § COUNTY OF BEXAR § cf This instrument was acknowledged before me on this tS day of { vena, ; 2022, by RUBEN ALDAIR LARA.
NOTARY PUBLIC, STATE OF TEXAS STATE OF TEXAS § COUNTY OF BEXAR § , A.
This instrument was acknowledged before me on this Le day of () o vonbey- : 2022, by VICTORIA MaAdkebA DURAN.
Marie vite Public, Sate of Texas > 122024 i Boe oy AFTER RECORDING RETURN TO: City of San Antonio Office of the City Attorney ATTN: General Fund Housing Attorney P.O. Box 839966 San Antonio, Texas 78283-3966 -3Declaration of Restrictive Covenant of Affordability v.1 (11/07/2022) File Information eFILED IN THE OFFICIAL PUBLIC eRECORDS OF BEXAR COUNTY LUCY ADAME-CLARK, BEXAR COUNTY CLERK Document Number: 20220277280 Recorded Date: November 30, 2022 Recorded Time: 8:43 AM Total Pages: 4 Total Fees: $34.00 Any provision herein which restricts the sale or use of the described real property because of race is invalid and unenforceable under Federal law STATE OF TEXAS, COUNTY OF BEXAR | hereby Certify that this instrument was eFILED in File Number Sequence on this date and at the time stamped hereon by me and was duly RECORDED in the Official Public Record of Bexar County, Texas on: 11/30/2022 8:43 AM i Kcr Ataris Chang Lucy Adame-Clark Bexar County Clerk