HUBBARD_JESSICA - Laserfiche WebLink

Home

RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: CITY OF RIVERSIDE 3900 Main Street, 5th Floor Riverside, CA 92522 Attn: Housing Manager Project: Down Payment Assistance Program APN: 230-071-039-7 COPY (SPACE ABOVE THIS LINE RESERVED FOR RECORDER=S USE) AGREEMENT AND COVENANTS, CONDITIONS AND RESTRICTIONS AFFECTING REAL PROPERTY INCLUDING OWNER-OCCUPANCY RESTRICTION THIS AGREEMENT AND COVENANTS, CONDITIONS AND RESTRICTIONS AFFECTING REAL PROPERTY INCLUDING OWNER-OCCUPANCY RESTRICTION ("Agreement") is entered into this 25th day of March, 2009 (the "effective date"), by and between the CITY OF RIVERSIDE, a California charter city and municipal corporation, ("City") and Jessica Hubbard, as an unmarried woman ("Owners"), with reference to the following facts: RECITALS WHEREAS, The City has approved and implemented a Down Payment Assistance Program ("Program"), under which the City will provide a subsidy to Eligible Persons and Families towards the purchase of a residence. The City intends that the subsidy, a deferred-payment mortgage loan, provided by the Program: will assist first time homebuyers who are Eligible Persons and Families to purchase residential property for owner-occupancy at affordable housing cost; and WHEREAS, the Program will be funded with money from the formula HOME Investment Partnership (HOME) and American Dream Downpayment Initiative (ADDI) allocation from the United States Department of Housing and Urban Development; and WHEREAS, the Owners are the owners of the certain real property known as 3543 Marshall Street, Riverside, CA 92504 (the "Property"), which is described on Exhibit A attached hereto and incorporated herein by reference, which will benefit from the Program; and WHEREAS, the City and the Owners have agreed to impose certain continuing obligations related to and on the Property; and