HomeMy WebLinkAboutAgr 1995-10-23 (Tiburon Ecumenical Housing Association)RECORDING REQUESTED BY
AND WHEN RFrORDFD MAIT, TO
Tiburc~~ Redevelopment Agency
1155 Tiburon Boulevard
Tiburon, CA 94920
95-051661
Recorded
Official Records
County of
MARIN
JOAN C THAYER
Recorder
8:00am 27-Oct-95
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I Check .00
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No fee for recording pursuant to
Govez,n-ment Code Section 27383
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EGLM A•; ORY AGREF14ENT AND
DECLARATION OF RESTRICTIVE COVENANTS
This Recd°.Ilatory Agreement and neclarat:1-on of " str'-C.tive
Covenants (the "Agreement") is made and entered into as of this
S day of , 1995 by and between the Tiburon
Redevelopment Agency, a public body corporate and politic (the
"Age,nv.y"), and Ecumenical Association for Housing, a Calif ~-Tnia
11onprof. public benefit corporation (the a'Det;loner") a
RE~~:I'~AlaS
1. The Agency and the D~elnper iave entered into a Sacond
Amended and Restated Dis-,~)os (yR.Velopment and 1atian Agreement
for Tiburon Highlands Housing Dt-velopment, li-l.tiaily c.-vxecuta as
of duly 1, 1994, as amended and restated in its entirety as or
Marclo 1, 1995, as f uY- Sher- aman(~ed and st erg in its ent _a.,rety a
of O& ober 1995 (the 'IDDLA" under the ~~genc;y wi? 1
convsy, ccertain F: eal ;Liroper~t`~ 'the "Property") ~to the J,- v-e loper
and will protj id a a loan thp, " 1t~.gf Lzncy , Joan") to the Developer f,Dr
use,, together with funds oti--a.ir 9d from other sources, for
development oil the Property oZ sixteen (16) t.° dent.ial Un.i is
affordab.P to households conta`1_-~ i ng elderly indPidduals ;the
1 :0evelopmentl Z Capitalized terms used _Jut not iafined in this
? -,,-L°eem, nt call have the meanings set fortrl in the DOLA.
2, Tlh-kc: :F ands sed by g._.. _ 1C,y to acquire the Property
and to t'_~e Agency Loan pursnan-.i to the DDLA are frog. the
-kgoyncy' s ljoykl~ and M~3d rya Irxc; ome Housi.ng ~"und. Uada r Cal :'.f ox n i a
E-ealth and afety ;ode Secti,.:~n 33330,.2 gt , the Agency must
r«,c-±r~.C,,t developments as6isttd with fu.P.08 from the -Agency l s Low
t end Moderate -P[ncvf! )Ate Housing Fund, so the aevelopmr enta remain
a•`f ordabl to Is a.-.d moderate Lnrom~ huseh~-Ads for t_ a longest
fev s able t,ZAis , Ag rreement is irten,3.ed to imp -Ttent th?!
`-c~-~Tairement lay,-.
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3. The Agency has agreed to convey the Property and to
make the Agency Loan to the Developer on the condition that the
Development be maintained and operated in accordance with
Sections 33334.2 et sect. and in accordance with additional
restrictions concerning affordability, operation, and maintenance
of the Development, as specified in this Agreement.
4. In addition, the Agency intends to apply the units in
the Development, to the extent permitted by law, toward
satisfaction of its project area housing production obligation
under Health and Safety Code Section 33413(b)(2) for the Tiburon
Redevelopment Project Area. To serve this purpose, the Agency is
restricting the units in the Development pursuant to this
Agreement so that they remain affordable to households with
incomes as specified herein for the longest feasible time.
5. In consideration of conveyance of the Property and
receipt of the Agency Loan at an interest rate substantially
below the market rate, the Developer has further agreed to
observe all the terms and conditions set forth below.
6. In order to ensure that the entire Development will be
used and operated in accordance with these conditions and
restrictions, the Agency and the Developer wish to enter into
this Agreement.
THEREFORE, the Agency and the Developer hereby agree as
follows.
ARTICLE 1
DEFINITIONS
1.1 Definitions
When used in this Agreement, the following terms shall have
the respective meanings assigned to them in this Article 1.
(a) "Actual Household Size" shall mean the actual
number of persons in the applicable household.
(b) "Adjusted Income" shall mean the total anticipated
annual income of all persons in a household, as calculated in
accordance with 25 California Code of Regulations Section 6914 or
pursuant to a successor State housing program that utilizes a
reasonably similar method of calculation of adjusted income. In
the event that no such program exists, the Agency shall provide
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the Developer with a reasonably similar method of calculation of
adjusted income as provided in said Section 6914.
(c) "Agency" shall mean the Tiburon Redevelopment
Agency and, in the event the Agency ceases to exist, the Town of
Tiburon or such successor entity as the Town may designate.
(d) "Agency Deed of Trust" shall mean the deed of
trust to the Agency on the Property which secures repayment of
the Agency Loan and performance of the DDLA and this Agreement.
(e) "Agency Loan" shall mean all funds loaned to the
Developer pursuant to the DDLA.
(f) "Agency Note" shall mean the promissory note from
the Developer to the Agency evidencing all or any part of the
Agency Loan.
(g) "Agreement" shall mean this Regulatory Agreement
and Declaration of Restrictive Covenants.
(h) "Assumed Household Size" shall mean, subject to
the modification set forth in Section 2.5, a household containing
one (1) person, it being understood that every Unit in the
Development shall be an efficiency unit.
(i) "Certificate of Completion Date" shall mean the
date of issuance by the Agency of a Certificate of Completion for
the Development pursuant to Section 6.10 of the DDLA.
(j) "DDLA" shall mean the Second Amended and Restated
Disposition, Development, by and between the Agency and the
Developer, initially executed as of July 1, 1994, as amended and
restated in its entirety as of March 1, 1995, as further amended
and restated in its entirety as of October 1, 1995.
(k) "Developer" shall mean Ecumenical Association for
Housing, a California nonprofit public benefit corporation, and
its successors and assigns to the Development.
(1) "Development" shall mean the Property and the
sixteen (16) residential units to be developed on the Property,
as well as all landscaping, roads and parking spaces existing
thereon, as the same may from time to time exist.
(m) "Median Income" shall mean the median gross yearly
income, adjusted for Actual Household Size or Assumed Household
Size as specified herein, in the County of Marin, California, as
published from time to time by the State of California. In the
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event that such income determinations are no longer published, or
are not updated for a period of at least eighteen (18) months,
the Agency shall provide the Developer with other income
determinations which are reasonably similar with respect to
methods of calculation to those previously published by the
State.
(n) "Other Household" shall mean a household with an
Adjusted Income which does not exceed ninety percent (90%) of
Median Income, adjusted for Actual Household Size.
(o) "Other Units" shall mean the Units which, pursuant
to Section 2.1(b) below, are required to be occupied by other
Households.
(p) "Property" shall mean the real property described
in Exhibit A attached hereto and incorporated herein.
(q) "Rent" shall mean the total.r)f monthly payments by
the Tenant of a Unit for the following: (1) use and occupancy of
the Unit and land and associated facilities, including parking;
(2) any separately charged fees or service charges assessed by
the Developer which are required of all Tenants, other than
security deposits; (3) the cost of an adequate level of service
for utilities paid by the Tenant, including garbage collection,
sewer, water, electricity, gas and-other heating, cooking and
refrigeration fuel, but not telephone service, cable television
service or any other utility or service permitted to be excluded
from the calculation of Rent pursuant to the terms of 25
California Code of Regulations Section 6918; and (4) any other
interest, taxes, fees or charges for use of the land or
associated facilities and assessed by a public or private entity
other than the Developer, and paid by the Tenant.
(r) "Security Financing Interest" shall have the
meaning set forth in Section 10.1 of the DDLA.
(s) "Tenant" shall mean a household occupying a Unit.
(t) "Term" shall mean the term of this Agreement,
which shall commence on the Certificate of Completion Date and
shall continue in effect in perpetuity, subject to earlier
termination as provided in section 4.2 and to the following
limitation. The parties shall take such actions as may be
required by law to enable the term of this Agreement to continue
in effect in perpetuity. In the event any such action is not
properly and timely taken or the perpetual term of this Agreement
is otherwise determined to violate any provision of law, the Term
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of this Agreement shall continue in effect until the ninety-
ninth (99th) anniversary of the Certificate of Completion Date.
(u) "Unit" shall mean one of the fifteen (15) one-
bedroom units to be constructed on the Property, and to which the
provisions of Articles 2 and 3 apply. The term "Unit" shall not
refer to the two-bedroom resident manager's unit.
(v) "Very Low Income Household" shall mean a household
with an Adjusted Income that does not exceed the lesser of (1)
forty percent (40%) of Median Income, adjusted for actual
household size, or (2) the qualifying limits for very low income
households, adjusted for Actual Household Size, as established
and amended from time to time pursuant to Section 8 of the United
States Housing Act of 1937, and as published by the State of
California Department of Housing and Community Development.
(w) "Very Low Income Units" shall mean the Units
which, pursuant to Section 2.1(a) below, are required to be
occupied by Very Low Income Households.
ARTICLE 2
AFFORDABILITY AND OCCUPANCY COVENANTS
2.1 Occupancy Requirement.
(a) Very Low Income Units. Seven (7) of the Units
shall be rented to and occupied by or, if vacant, available for
occupancy by Very Low Income Households.
(b) Other Units. The remaining eight (8) Units shall
be rented to and occupied by or, if vacant, available for
occupancy by Other Households.
(c) Intermingling of Units. The Very Low Income Units
shall be intermingled with, and shall be of comparable quality
to, the Other Units. Tenants in all Units shall have equal
access to and enjoyment of all common facilities of the
Development.
2.2 Allowable Rent
(a) Very Low Income Rent. Subject to the provisions
of Section 2.3 below, the Rent charged to Tenants of the Very Low
Income Units shall not exceed one-twelfth (1/12) of thirty
percent (30%) of forty percent (40%) of Median Income, adjusted
for Assumed Household Size.
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(b) Other Rent. Subject to the provisions of Section
2.3 below, the Rent charged to Tenants of the Other Units shall
not exceed one-twelfth of thirty percent (30%) of ninety percent
(90%) of Median Income, adjusted for Assumed Household Size.
2.3 Increased Income of Tenants
(a) Very Low Income Household. If, upon
recertification of a Tenant's income, the Developer determines
that a former Very Low Income Household no longer qualifies as a
Very Low Income Household, but has an Adjusted Income not
exceeding ninety percent (90%) of Median Income, adjusted for
Actual Household Size:
(1) Such Tenant's Unit shall be considered an
Other Unit;
(2) Such Tenant's Rent may be increased to an
Other Rent, upon sixty (60) days written notice to the Tenant;
and
(3) The Developer shall rent the next available
Other Unit to a Very Low Income Household at Rent not exceeding
the maximum Rent specified in Section 2.2(a) to comply with the
requirements of Section 2.1(a) above.
(b) Non-Qualifying Household. If, upon
recertification of a Tenant's income, the Developer determines
that a former Very Low Income Household or Other Household has an
Adjusted Income exceeding ninety percent (90%) of Median Income,
adjusted for Actual Household Size:
(1) Such Tenant shall be required to vacate the
Development within six (6) months and shall be notified in
writing of such obligation to vacate promptly following the
income recertification; and
(2) Upon vacation, the vacated Unit shall be
rented to a Very Low Income Household or an Other Household, as
applicable, at a Rent level as necessary to comply with the
requirements of Section 2.1 and 2.2 above.
(c) Termination of Occupancy. Upon termination of
occupancy of a Unit by a Tenant, such Unit shall be deemed to be
continuously occupied by a household of the same income level
(e.g., Very Low Income Household or Other Household) as the
income level of the vacating Tenant, until such Unit is
reoccupied, at which time the income character of the Unit (e.g.,
Very Low Income Unit or Other Unit) shall be redetermined.
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2.4 Lease Provisions. The Developer shall use a form of
Tenant lease approved by the Agency. The form of Tenant lease
shall comply with all requirements of this Agreement, the DDLA,
and Section 8 requirements (for Units to be occupied by Section 8
certificate holders), and shall, among other matters:
(a) provide for termination of the lease and consent
by the Tenant to immediate eviction for failure: (1) to provide
any information required under this Agreement or reasonably
requested by the Developer to establish or recertify the Tenant's
qualification, or the qualification of the Tenant's household,
for occupancy in the Development in accordance with the standards
set forth in this Agreement, or (2) to qualify as a Very Low
Income Household or Other Household, as the case may be, as a
result of any material misrepresentation made by such Tenant with
respect to the income computation or certification; and
(b) be for an initial term of at least one year and
provide for no Rent increase during such year. After the initial
year, a Tenant lease may be month-to-month; however, the Rent may
not be raised more than once per year. The Developer will
provide each Tenant with at least sixty (60) days' written notice
of any increase in Rent applicable to such Tenant, and with such
further notice as may be required by Section 2.3 above.
2.5 Other Rules. If the Development is subject to state or
federal rules governing funding sources such as low-income
housing tax credits or HOME funds (the "Other Rules"), the
provisions of the Other Rules regarding assumed household size
(as defined in Section 1.1(h) above), continued occupancy by
households whose incomes exceed the eligible income limitations
(as described in Section 2.3 above), or other matters set forth
in this Article 2 shall apply in place of the provisions set
forth in the applicable sections of this Agreement.
2.6 Nondiscrimination. All of the Units shall be available
for occupancy on a continuous basis to members of the general
public who are income eligible. The Developer shall not give
preference to any particular class or group of persons in renting
or selling the Units, except to the extent that the Units are
required to be leased to Extremely Low Income Households, Very
Low Income Households, and Other Households. There shall be no
discrimination against or segregation of any person or group of
persons, on account of race, color, creed, religion, sex, sexual
orientation, marital status, national origin, source of income
(e.g. AFDC or SSI), ancestry, or disability, in the leasing,
subleasing, transferring, use, occupancy, tenure, or enjoyment of
any Unit nor shall the Developer or any person claiming under or
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through the Developer, establish or permit any such practice or
practices of discrimination or segregation with reference to the
selection, location, number, use, or occupancy, of tenants,
lessees, sublessees, subtenants, or vendees of any Unit or in
connection with the employment of persons for the construction,
operation and management of any Unit. All deeds, leases or
contracts made or entered into by the Developer as to the Units
or the Development or portion thereof, shall contain covenants
concerning discrimination as prescribed by the DDLA.
2.7 Section 8 Certificate Holders. The Developer will
accept as Tenants, on the same basis as all other prospective
Tenants, persons who are recipients of federal certificates for
rent subsidies pursuant to the existing housing program under
Section 8 of the United States Housing Act, or its successor.
The Developer shall not apply selection criteria to Section 8
certificate or voucher holders that is more burdensome than
criteria applied to all other prospective Tenants, nor shall the
Developer apply or permit the application of management policies
or lease provisions with respect to the Development which have
the effect of precluding occupancy of units by such prospective
Tenants.
ARTICLE 3
INCOME CERTIFICATION AND REPORTING
3.1 Income Certification. The Developer will obtain,
complete and maintain on file, immediately prior to initial
occupancy and annually thereafter, income certifications from
each Tenant renting any of the Units in substantially the form
approved by the Agency. The Developer shall make a good faith
effort to verify that the income provided by an applicant or
occupying household in an income certification is accurate by
taking two or more of the following steps as a part of the
verification process: (a) obtain a pay stub for the most recent
pay period; (b) obtain an income tax return for the most recent
tax year; (c) conduct a credit agency or similar search;
(d) obtain an income verification form from the applicant's
current employer; (e) obtain an income verification form from the
Social Security Administration and/or the California Department
of Social Services if the applicant receives assistance from
either of such agencies; or (f) if the applicant is unemployed
and has no such tax return, obtain another form of independent
verification. Copies of Tenant income certifications shall be
available to the Agency upon request.
3.2 Semi-annual Report to Agency. The Developer shall
submit to the Agency (a) not later than the fifteenth (15th) day
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after the close of each semi-annual period, a statistical report
to the Agency in a form approved by the Agency, setting forth the
information called for therein, and (b) within fifteen (15) days
after receipt of a written request, any other information or
completed forms requested by the Agency in order to comply with
reporting requirements of the United States Department of Housing
and Urban Development or the State of California.
3.3 Additional Information. The Developer shall provide
any additional information reasonably requested by the Agency.
The Agency shall have the right to examine and make copies of all
books, records or other documents of the Developer which pertain
to the Development.
3.4 Records. The Developer shall maintain complete,
accurate and current records pertaining to the Development, and
shall permit any duly authorized representative of the Agency to
inspect records, including records pertaining to income and
household size of Tenants. All Tenant lists, applications and
waiting lists relating to the Development shall at all times be
kept separate and identifiable from any other business of the
Developer and shall be maintained as required by the Agency, in a
reasonable condition for proper audit and subject to examination
during business hours by representatives of the Agency. The
Developer shall retain copies of all materials obtained or
produced with respect to occupancy of the Units for a period of
at least three (3) years.
ARTICLE 4
MISCELLANEOUS
4.1 Term. The provisions of this Agreement shall apply to
the Property for the entire Term even if the entire Agency Loan
is paid in full prior to the end of the Term. This Agreement
shall bind any successor, heir or assign of the Developer,
whether a change in interest occurs voluntarily or involuntarily,
by operation of law or otherwise, except as expressly released by
the Agency. The Agency makes the Agency Loan on the condition,"
and in consideration of, this provision, and would not do so
otherwise.
4.2 Developer's Election to Terminate. After this
Agreement has remained in effect for not less than ninety-five
(95) years, if the Developer in good faith determines that due
to the physical suitability of the Development or other changed
circumstances which adversely affect the Development, it is not
economically feasible for the Development to continue to be
operated in accordance with this Agreement, the Developer shall
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have the right to terminate this Agreement upon satisfaction of
the following conditions:
(a) The Developer shall be in full compliance with the
provisions of the Agency Documents, including, without
limitation, compliance with the terms of Section 7.7 of the DDLA;
(b) The Agency Loan shall have been repaid in full;
and
(c) The Development shall be conveyed in fee to the
Agency in consideration for the Agency's payment of one dollar
($1.00). Fee title to the Development shall be subject only to
the exceptions to title in effect upon conveyance of the Property
to the Developer pursuant to the DDLA, any Security Financing
Interests, and any other matters approved by the Agency in its
sole discretion. The Development shall be conveyed to the Agency
in "as is" condition.
Upon satisfaction of the above conditions, the Agency shall
assume the than existing debt evidenced by the Security Financing
Interests, and this Agreement shall terminate. The provisions of
Sections 7.2, 7.7(b), 11.7, and 11.5 of the DDLA shall survive
such termination, and shall remain in full force and effect.
4.3 Covenants to Run With the Land. The Agency and the
Developer hereby declare their express intent that the covenants
and restrictions set forth in this Agreement shall run with the
land, and shall bind all successors in title to the Property,
provided, however, that on the expiration of the Term of this
Agreement said covenants and restrictions shall expire. Each and
every contract, deed or other instrument hereafter executed
covering or conveying the Property or any portion thereof shall
be held conclusively to have been executed, delivered and
accepted subject to such covenants and restrictions, regardless
of whether such covenants or restrictions are set forth in such
contract, deed or other instrument, unless the Agency expressly
releases such conveyed portion of the Property from the
requirements of this Agreement.
4.4 Enforcement by the Agency. If the Developer fails to
perform any obligation under this Agreement, and fails to cure
the default within thirty (30) days after the Agency has notified
the Developer in writing of the default or, if the default cannot
be cured within thirty (30) days, failed to commence to cure
within thirty (30) days and thereafter diligently pursue such
cure, the Agency shall have the right to enforce this Agreement
by any or all of the following actions, or any other remedy
provided by law:
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(a) Calling the Agency Loan. The Agency may declare a
default under the Agency Note, accelerate the indebtedness
evidenced by the Agency Note, and proceed with foreclosure under
the Agency Deed of Trust.
(b) Action to Compel Performance or for Damages. The
Agency may bring an action at law or in equity to compel the
Developer's performance of its obligations under this Agreement,
and/or for damages.
(c) Remedies Provided Under DDLA. The Agency may
exercise any other remedy provided under the DDLA.
4.5 Attorneys Fees and Costs. In any action brought to
enforce this Agreement, the prevailing party shall be entitled to
all costs and expenses of suit, including attorneys' fees. This
section shall be interpreted in accordance with California Civil
Code Section 1717 and judicial decisions interpreting that
statute.
4.6 Recording and Filing. The Agency and the Developer
shall cause this Agreement, and all amendments and supplements to
it, to be recorded in the Official Records of the County of
Marin.
4.7 Governing Law. This Agreement shall be governed by the
laws of the State of California.
4.8 Waiver of Requirements. Any of the requirements of
this Agreement may be expressly waived by the Agency in writing,
but no waiver by the Agency of any requirement of this Agreement
shall, or shall be deemed to, extend to or affect any other
provision of this Agreement.
4.9 Amendments. This Agreement may be amended only by a
written instrument executed by all the parties hereto or their
successors in title, and duly recorded in the real property
records of the County of Marin.
4.10 Notices. Any notice requirement set forth herein shall
be deemed to be satisfied three (3) days after mailing of the
notice first-class United States certified mail, postage prepaid,
addressed to the appropriate party as follows:
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Developer: Ecumenical Association for Housing
2169 East Francisco Boulevard, Suite B
San Rafael, CA 94901
Attention: Executive Director
Agency: Tiburon Redevelopment Agency
1155 Tiburon Boulevard
Tiburon, CA 94920
Attention: Executive Director
Such addresses may be changed by notice to the other party given
in the same manner as provided above.
4.11 Severability. If any provision of this Agreement shall
be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining portions of this Agreement shall
not in any way be affected or impaired thereby.
4.12 No Impairment of Security Financina Interests. No
violation or breach of the covenants, conditions, restrictions,
provisions, or limitations contained in this Agreement shall
defeat or render invalid or in any way impair the lien or change
of any Security Financing Interest to which the lien of this
Agreement has been subordinated in accordance with the provisions
of Section 5.8 of the DDLA.
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IN WITNESS WHEREOF, the Agency and the Developer have
executed this Agreement by duly authorized representatives, all
on the date first written above.
ATTEST:
DEVELOPER:
ECUMENICAL ASSOCIATION FOR HOUSING,
a California nonprofit public
benefit corporation
By: ~
► ou
Its. ce
AGENCY:
TIBURON REDEVELOPMENT AGENCY, a
public body, corporate and politic
0
BY: U k3 By:
Its:
APPROVED AS TO FORM:
By: 2~-~
• A ncy Counsel
V-
la/x~~'►s
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NOTARY CERTIFICATES
STATE OF CALIFORNIA
COUNTY OF r (
) ss.
On € Z , 199, befo me the undersigned, a Notary
Public, personally appeared personally
known to me (or proved to me on the basis of satisfactory
evidence) to be the person(s) whose name(s) is/are subscribed to
the within instrument, and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies), and
that by his/her/their signature(s) on the instrument the
person(s), or the entity upon behalf of which the person(s)
acted, executed the instrument.
WITNESS my hand and official seal.
&V&4t" ab',jq"-j1
STATE OF CALIFORNIA )
)ss.
COUNTY OF
ANDREW ROBERT KARRS
Commission #1067621
Notary Public - Caftala
MAMN COUNTY
L4W wm pMy Comm. Expim"2.1999
On 7A CZbNV4.. , 199.5, before me, the undersigned, a Notary
Public, personally appeared ft C2.T Lt k,1..otaedvr , personally
known to me (or proved to me on the basis of satisfactory
evidence) to be the person(s) whose name(s) is/are subscribed to
the within instrument, and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies), and
that by his/her/their signature(s) on the instrument the
person(s), or the entity upon behalf of which the person (s)
acted, executed the instrument.
WITNESS my hand and official seal.
Richard Strar zl
Com
#96457'
m.
9
G
NOTARY PUBLIC • CALIF )ANIA
MAAIN COUNTY
Comm. EXPIM Aprf123, 199"-
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EXHIBIT A
LEGAL DESCRIPTION OF THE PROPERTY
ALL THAT CERTAIN real property situate in the City of Tiburon,
County of Marin, State of California, described below as follows:
Parcel A, as shown upon that certain Parcel Map entitled, "Map of
Tiburon Highlands, Town of Tiburon, Marin Co., State of
California," filed for record November 1, 1988 in Book 20 of
Maps, at Page 50, Marin County Records.
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