HomeMy WebLinkAboutC2009-596 - 11/17/2009 - NAEXHIBIT D
COVENANT TO BIND PROPERTY FOR PERIOD OF AFFORDABILITY
STATE OF TEXAS §
§ KNOW ALL BY THESE PRESENTS:
COUNTY OF NUECES §
Pursuant to an agreement entered into between the Corpus Christi Community
Improvement Corporation ( "CCCIC ") and, HCS 310, LLC, a limited liability company,
doing business as Samuel Place Apartments, acting by and through its sole member,
TG 110, Inc., a Texas corporation, as a Community Housing Development Organization
( "CHDO "), executed by CHDO on the date shown below, which agreement is
incorporated in this instrument by reference ( "Agreement "), CHDO accepted federal
funds, in conjunction with the United States Department of Housing and Urban
Development's Home Investment Partnership Program ( "HOME Program ") administered
by the CCCIC, for rehabilitation of the following property:
See Exhibit 1 attached and incorporated by reference into
this document, containing the legal description and metes
and bounds of Block C, Carrollton Annex -3, located in
Corpus Christi, Nueces County, Texas (hereinafter referred
to as the "Property ").
Pursuant to the terms, conditions, and covenants contained within the
Agreement, as owner of the Property and in consideration of receiving HOME Program
funds, CHDO agrees to bind the Property with the affordability requirements specified in
Title 24, Part 92.252, of the United States Code of Federal Regulations, for a period of
not less than five (5) years from the date of completion of the rehabilitation of the
roperty, such date of completion presently unknown but anticipated to be on or about
90afefr31, 2011.
This instrument constitutes a covenant running with the land and binds all
successors, assigns, and transferees of the Property, such Property being subject to
this instrument.
(EXECUTION PAGE FOLLOWS)
2009 -596
11/17/09
CCCIC I N D EX—M
HCS 310, LLC, a limited liability company organized under the laws of the State of
Texas and doing business as Samuel Place Apartments, by and through its sole
member, TG 110, Inc., a Texas corporation
Signature
RUT#QRW
Printed Name dY LVURCIL
Title
Date SECRETARY
ACKNOWLEDGMENT
STATE OF TEXAS §
COUNTY OF NUECES § KNOW ALL BY THESE PRESENTS
This instrument was acknowledged before me on &ekw J 2010
by Or,"k ,`� e , as t\ U1"J e �i� Z � (title)
of TG 110, Inc., a Texas corporation and sole member of HCS 310, LLC, a limited
liability company organized under the laws of the State of Texas and doing business as
Samuel Place Apartments, on behalf of the li ed liability company and corporation.
sz° i DAWN BOURLAND
21 : ;, Notary Poo, slate of Texas
s GV MY commMim expies r
MAY 3, 2014 NOTARY PUBLIC, State of Texas
AFTER RECORDING RETURN TO:
ATTN: Administrator, Community Development Office
Corpus Christi Community Improvement Corporation
P. O. Box 9277
Corpus Christi, Texas 78469 -9277
_ fJCH�BiT
A 4.162 -acme tract of lard and baiag Block C, Carrollton Anncx -3, being a u p]at of
Block'A do B as recorded in Volume 45, Page 158 of the Map Records of Nueces Comity, !
Texas, and bung more partiaubdy de=ified to wit:'
Beginning at an iron pia being the Southeast owner of tic tract and being located ou the North
right- of-way fink of C.a Q ;
THENCB; N 61 40'- 04"'9V', a tvW distan of 630,00 foes along 6e Sa Wh propexty Iim of
$lock C to a liar carper being the Soeid� cow ofthis tract;
TMWM- N 2r-20 % a total dispmce of 330:04 felt slang the Ww p mpetty lie of $mac '
C to an imn pipe being liar Nortwest comer ofibis
TIENCE4 S 6P 40'4W K atotal dunce of 444.04 feet "to North property Hue of Block
C to a fenw ca= bang an uftrior c =w, E .
1flWCE; S 28° 2(r- W W, a mt d dLft= of 140.00 to a fam corner being an mar
COMM
TfENM: S 61 °- 40'-00" R. a total dbtanee of 190.00 feet ii an hon pin 1 g t* Nmtbeast -
corner of this tract and being on the North right -of -way But ofCarroUlanc; '
ThHNM- S 28° 2o' -QO" W, It total distance of 19Q.UQ fed alaAg the Nord: right -Of=w v lime of
Cancoll Lana to the point of begWain& .