Itm 16 Staff Report Adopt Resolution Authorizing Executive of Documents Regarding Habitat for Humanity House at 25 Charles AvenueDATE:
TO:
FROM:
MEETING DATE: 1/21/03
TOWN OF Los GATOSITElV1 No.
CIVIC CENTER
COUNCIL/REDEVELOPMENT AGENCY AGENDA REPORWE.MAIN STREEr
P.O. Box 949
Lcs GATOS, CA 95031
January 9, 2003
MAYOR AND TOWN COUNCIL/REDEVELOPMENT AGENCY
DEBRA J. FIGONE, TOWN MANAGER/EXECUTIVE DIRE O
SUBJECT: ADOPT RESOLUTION AUTHORIZING EXECUTION OF DOCUMENTS
REGARDING HABITAT FOR HUMANITY HOUSE AT 25 CHARLES
AVENUE.
RECOMMENDATION:
Adopt resolution authorizing execution of documents regarding Habitat for Humanity House at 25
Charles Avenue.
BACKGROUND:
In 1998, the Town began discussions with Habitat for Humanity regarding the construction of a
home on a remnant parcel of Town owned property at 25 Charles Avenue. In June 2000, the
Redevelopment Agency approved a Disposition and Development Agreement with Habitat providing
that the Town would sell to the Redevelopment Agency the parcel at 25 Charles Avenue for
$260,000. The Agency would then grant to Habitat the parcel at no cost in order that a home could
be constructed on the property for a low-income family. In addition, the Redevelopment Agency
would provide Habitat $50,000 for costs associated with the project. Subsequently, Habitat
submitted plans and received approval of a two story, 1,100 sq. ft. home on the property.
DISCUSSION:
Habitat would like to begin construction of the house in early Spring 2003. They have received
approval of their construction plans from the Town and are ready to pull theirbuilding permits. In
addition, they have satisfied the other conditions of the Disposition and Development Agreement.
PREPARED BY:
(Continued on Page 2)
Marty Woodwort
Redevelopment Manager
Reviewed by: V5. Assistant Town Manager (,- Town Attorney Clerk Finance
Community Development Revised: 1/9/03 12:15 pm
Reformatted: 5/30/02
INCORPORATED AUGUST 10,1887
i,�
TEWNTMLOS cwATOS
Civic CENTER
RESOLUTION OF THE TOWN COUNCIL/REDEVELOPMENT AGEW
OWN OF LOS GATOS AUTHORIZING THE TOWN MANAGER/EXjF ixlr
IRECTOR TO EXECUTE ALL DOCUMENTS PERTAINING TO THE SILICON
VALLEY HABITAT FOR HUMANITY HOUSE TO BE CONSTRUCTED AT 25
CHARLES AVENUE
TREEr
x 949
95031
WHEREAS, on September 15, 2000, a Disposition and Development Agreement (the
"DDA") was recorded with the County of Santa Clara; and
WHEREAS, the DDA formed an agreement between the Redevelopment Agency of
the Town of Los Gatos (the "Agency") and Silicon Valley Habitat for Humanity ("Habitat") for the
construction of an affordable home on property known as 25 Charles Avenue; and
WHEREAS, Habitat has met the pre -development conditions of the DDA and would
like to begin construction of the house in Spring 2003.
RESOLVED, that the Town Manager/Executive Director is hereby authorized to
execute and/or accept all documents to carry out the terms of the DDA. Such documents, as attached
as exhibits, include, but are not limited to, escrow instructions, grant deeds, certificate confirming
transfer of fund, certificate accepting real property, Resale Restriction and Option of Purchase, Deed
of Trust and Promissory Note, all substantially in the form of those attached.
PASSED AND ADOPTED at a meeting of the Town Council/Redevelopment
of the Town of Los Gatos, California, held on the day of , 2003 by the
following vote:
COUNCIL MEMBERS/REDEVELOPMENT AGENCY BOARD MEMBERS
AYES:
NAYS:
ABSENT:
ABSTAIN:
Attachment 1
INCORPORATED AUGUST 10, 1887
Ca
TOWN OF Los GATOS
Crvc CENTER
110 E. Maw SnEEr
P.O. Box 949
Los GATOS, CA 95031
PROPERTY ADDRESS:
TITLE REPORT NO.:
AGREEMENT FOR ACQUISITION OF REAL PROPERTY
(ESCROW INSTRUCTIONS)
THIS AGREEMENT is entered into this _ day of December, 2002, by and between the TOWN
OF LOS GATOS, a California municipal corporation ("Seller"), and the LOS GATOS
REDEVELOPMENT AGENCY, a public body corporate and politic ("Buyer/Seller"), and shall
also serve as escrow instructions for this transaction and for a concurrent transfer of the same real
property from the Buyer/Seller to the SILICON VALLEY HABITAT FOR HUMANITY, INC., a
California nonprofit public benefit corporation ("Second Buyer"), pursuant to a Disposition and
Development Agreement between the Buyer/Seller and Second Buyer, recorded September 15,
2000, as document No. 15392414 ("DDA").
THE PARTIES AGREE AS FOLLOWS:
1. AGREEMENT TO SELL AND PURCHASE. Seller agrees to sell to
Buyer/Seller, and Buyer/Seller agrees to purchase from Seller, upon the terms and for the
consideration set forth in this Agreement, all that certain real property in the State of California,
County of Santa Clara, Town of Los Gatos, (hereinafter called "Property") legally described as:
COMMENCING AT THE SOUTHWESTERLY CORNER OF THAT 1.796 ACRE
TRACT OF LAND CONVEYED TO THE STATE OF CALIFORNIA BY DEED
RECORDED MAY 21, 1956 IN VOLUME 3500, AT PAGE 577, OFFICIAL RECORDS
OF SANTA CLARA COUNTY; THENCE ALONG THE SOUTHERLY LINE OF SAID
1.796 ACRE TRACT S. 80 DEG. 08' 40" E., 173.55 FEET, S. 75 DEG. 36' 16" E.,
360.99 FEET AND S. 70 DEG. 28' 01" E., 73.56 FEET TO THE NORTHWESTERLY
LINE OF BELLA VISTA AVENUE; THENCE S. 73 DEG. 17' 38" E. 52.37 FEET TO
THE NORTHEASTERLY CORNER OF SAID AVENUE AND OF CHARLES
STREET; AND THE ACTUAL POINT OF BEGINNING; THENCE ALONG THE
NORTHEASTERLY LINE OF SAID STREET S. 62 DEG. 54' 50 E., 201.63 FEET;
THENCE N. 34 DEG. 03' 18" E., 45.00 FEET; THENCE NORTHWESTERLY IN A
DIRECT LINE TO THE POINT OF BEGINNING AND BEING A PORTION OF LOT 4
IN THE BRAGDON SUBDIVISION OF THE TOWN OF LOS GATOS, COUNTY OF
SANTA CLARA, STATE OF CALIFORNIA, AS SHOWN ON THE MAP RECORDED
ON NOVEMBER 5, 1917 IN BOOK P OF MAPS, AT PAGE 29.
2. PURCHASE PRICE. The total purchase price, payable by an inter fund transfer
between the Seller and the Buyer/Seller, which transfer shall be acknowledged by certificate
Exhibit 1
INCORPORATED AUGUST 10, 1887
'-a
TOWN OF Los GATOS
pefts,.s, including any cscr w t��, �:� cat ,uLlices as aie the responsibility of Sew'CarLER
yer hereunder. 110 E. Mir STREET
P.O. Box 949
Pay and charge Second Buyer for all document preparation and recording feel'tt P' 95031
half of and all other costs and expenses, including any escrow fee.
• Disburse funds and deliver deeds when conditions of this escrow have been fulfilled by
Seller, Buyer/Seller and Second Buyer.
• Insurance policies for fire or casualty are not to be transferred, and Seller and
Buyer/Seller will cancel their own policies after close of escrow.
The term "close of escrow," if and where written in these instructions, shall mean the date
necessary instruments of conveyance are recorded in the office of the County Recorder.
Recordation of instruments delivered through this escrow is authorized if necessary or proper in
the issuance of said policy of title insurance.
All time limits within which any matter herein specified is to be performed may be extended by
mutual agreement of the parties hereto. Any amendment of, or supplement to, any instructins
must be in writing.
TIME IS OF THE ESSENCE IN THESE INSTRUCTIONS AND ESCROW IS TO
CLOSE AS SOON AS POSSIBLE. If this escrow is not in condition to close by , 2003,
any party who then shall have fully complied with its instruments may, in writing, demand the
return of money or property; but if nne have complied no demand for return thereof shall be
recognized until five (5) days after Escrow Agent shall have mailed copies of such demand to all
other parties at the respective addresses shown in these escrow instructions, and if any objections
are raised within said five (5) day period. Escrow Agent is authorized to hold all papers and
documents until instructed by a court of competent jurisdiction or mutual instructions. If no
demands are made, proceed with closing this escrow as soon as possible.
Responsibility for Escrow Agent under this Agreement is expressly limited to Paragraphs
1, 2, 3, 4, 5, 6, 8 and 12 and to its liability under any policy of title insurance issued in regard to
this transaction.
7. PERMISSION TO ENTER ON PREMISES. Seller and Buyer/Seller hereby grant
to Second Buyer, or its authorized agents, permission to enter upon the Property al all reasonable
times prior to close of escrow for the purpose of making necessary or appropriate inspections, or
other project planning.
8. CLOSING STATEMENT. Seller and Buyer/Seller instruct Escrow Agent to
release a copy of Seller's statement to Second Buyer in order to allow Second Buyer to ascertain
if any reimbursements are due Sellers.
9. LOSS OR DAMAGE TO LMPROVEMENTS. Loss or damage to the Property
INCORPORATED AUGUST 10, 1887
TOWN OF Los GATOS
os Redevelopment Agency
E. Main Street
P.O. Box 949
Los Gatos, CA 95031
ATTEST:
By:
Marian Cosgrove, Town Clerk/
Secretary
APPROVED AS TO FORM:
By:
Orry P. Korb, Town Attorney/
General Counsel
BUYER/SELLER
• Civic CENTER
110 E. MAIN STREET
P.O.Box 949
Los GATOS, CA 95031
By:
Debra Figone, Executive Director
MAILING ADDRESS OF SECOND BUYER SECOND BUYER
Silicon Valley Habitat for Humanity, Inc.
888 North First Street, Suite 215
San Jose, CA 95112
Attn: Bill Arnopp
By:
William Arnopp, Executive Director
INCORPORATED AUGUST 10,1887
TOWN of Los GATOS
NG REQUESTED BY:
s Redevelopment Agency
ain Street
t Office Box 949
Los Gatos, CA 95031
WHEN RECORDED MAIL TO:
Los Gatos Redevelopment Agency
110 E. Main Street
Post Office Box 949
Los Gatos, CA 95031
CIVIC CENTER
110 E. MAIN STREET
P.O. Box 949
Los GATOS, CA 95031
GRANT DEED
For valuable consideration, receipt of which is acknowledged, TOWN OF LOS GATOS,
a California municipal corporation, grants to LOS GATOS REDEVELOPMENT AGENCY, a
public body corporate and politic, the real property in Los Gatos, California, described on
attached Exhibit A, incorporated into this Grant Deed.
Dated as of January _, 2003
GRANTOR: GRANTEE:
Town of Los Gatos Los Gatos Redevelopment Agency
By: By -
Debra Figone, Town Manager Debra Figone, Executive Director
APPROVED AS TO FORM:
By:
Orry P. Korb
Town Attorney/General Counsel
Exhibit 2
INCORPORATED AUGUST 10,1887
TOWN OF Los GATOS
ig Requested By :
os Redevelopment Agency
. Main Street, P.O. Box 949
Los Gatos, CA 95031
After Recordation, Mail To:
Silicon Valley Habitat for Humanity, Inc.
888 North First Street, Suite 215
San Jose, CA 95112
CIVIC CENTER
110 E. MAIN STREET
P.O. Box 949
Los GATOS, CA 95031
GRANT DEED
For valuable consideration, the receipt of which is hereby acknowledged,
THE LOS GATOS REDEVELOPMENT AGENCY, a body corporate and politic, existing
under the laws of the State of Califomia ("Grantor"), acting to carry out the central Downtown
Project Area Plan ("Redevelopment Plan") under the Community Redevelopment Law of the State
of California, hereby grants to SILICON VALLEY HABITAT FOR HUMANITY, a California
nonprofit public benefit corporation (Grantee"), the real property (the "Property") legally described
in the document attached hereto, labeled Exhibit A, and incorporated in this Deed by this reference.
1. The Property is conveyed subject to the Redevelopment Plan and pursuant to a
Disposition and Development Agreement entered into by and between the Grantor and Grantee and
dated , 2003 (the "DDA"). The Grantor makes no representations or
warranties about the condition of the Property's title, and the Grantee must obtain title insurance to
protect itself against unknown title conditions.
2. The Grantee hereby covenants and agrees, for itself and its successors and assigns,
that the Grantee and such successors and assigns shall promptly begin and diligently prosecute to
completion the redevelopment of the Property through the construction of the improvements required
to be constructed pursuant to the DDA (the "Project"), and that such construction shall be
commenced and completed within the times provided in the DDA.
Promptly after completion of the Project on the Property in accordance with the provisions
of the DDA, the Grantor will furnish the Grantee with an appropriate instrument so certifying (a
"Certificate of Completion"). Such Certificate of Completion by the Grantor shall be a conclusive
determination of the satisfaction and termination of the agreements and covenants in the DDA and
in this Grant Deed with respect to the obligations of the Grantee and its successors and assigns to
C Documents and Settings mwoodworh`.Local Settings•Templiabttat.Grant RDA wpd
-1-
Exhibit 3
INCORPORATED AUGUST 10,1887
to
TOWN OF Los GATOS
ndcr r through him, cstablish or perinit any such pr actice or practices of discrimineRmrrER
egregation with reference to the selection, location, number, use or occupancy?® ,t a
lessees, subtenants or vendees in the land herein leased." P.O. Box 949
Los GATos, CA 95031
c. In contracts: "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 or ancestry in the sale, lease, sublease, transfer, use occupancy,
tenure or enjoyment of the land, nor shall the transferee hi self, or any person claiming under
or through him, establish or permit any such practice or practices of discrimination or
segregation with reference to the selection, location, number, use of occupancy of tenants,
lessees, subtenants or vendees in the land."
6. The Grantee represents and agrees that its purchase of the Property, and its other
undertakings pursuant to the DDA, are and will be used for the purposes of timely redevelopment
of the Property and not for speculation in landholding. The Grantee further recognizes that in view
of the following factors, the qualification of the Grantee are of particular concern to the community
and the Grantor:
a. The importance of the redevelopment of the Property to other properties to
be developed as part of the Redevelopment Plan, and to the general welfare of the
community, with particular reference to the community's objective of providing additional
housing resources through effective redevelopment of the Property; and
b. The land acquisition assistance and other public aids that have been made
available by law and by the government for the purpose of making such redevelopment
possible; and
c. The reliance by the Grantor upon the unique qualifications and ability of the
Grantee to serve as the developer of the Property and upon the continuing interest which the
Grantee will have in the Property to assure the quality of the use, operation and maintenance
deemed critical by the Grantor in the development of the Property; and
d. The fact that a change in ownership or control of the Grantee, or of a
substantial part thereof, or any other act or transaction involving or resulting in a significant
change in ownership or with respect to the identity of the parties in control of the Grantee or
the degree thereof is for practical purposes a transfer or disposition of the Property; and
e. The fact that.the Property is not to be acquired or used for speculation, but
only for development and operation by the Grantee in accordance with the DDA; and
f. The importance to the Grantor and the community of the standards of use,
operation and maintenance of the Property.
C Doc..ncn and 1e:mgs m% o vv011❑ Locel Settings Temp Habiut C n.vrt RDA
INCORPORATED ALIGLIST 10, 1887
TOWN OF Los GATOS
it Gtaiitui shall lave the light to institute such actions or proceedings asGrER
irable for effectuating the purposes of this Section, including also the right to fimatkkikeRIEET
r file with the Recorder of the County of Santa Clara a written declaration of the termiitleh949
rights and title of the Grantee, and its successors in interest and assigns, in all oJtcYth ° b o n31
of the Property and the re -vesting of title thereto in the Grantor. Any delay by the grantor in
instituting or prosecuting any such actions or proceedings or otherwise asserting its rights under this
Section shall not operate as a waiver of such rights or to deprive it of or limit such rights in any way
(it being the intent of this provision that Grantor should not be constrained so as to avoid the risk of
being deprived of or limited to the exercise of the remedy provided in this Section because of
concepts of waiver, laches, or others), nor shall any waiver in fact made by the Grantor with respect
to any other defaults by the Grantee or with respect to the particular default except to the extent
specifically waived.
12. The Grantor has an irrevocable option to purchase the Property in the event the DDA
is terminated pursuant to Section 8.4 of the DDA, and such termination occurs prior to the issuance
of an Estoppel Certificate of Completion by the Grantor. The purchase option maybe exercised by
the Grantor delivering to the Grantee a notice of exercise of the option, upon which the Grantee shall
immediately convey the Property to the Grantor. The purchase price shall be the amount that would
be payable to the Grantee under Section 8.4 of the DDA and Section 10 of this Grant Deed if the
Grantor exercised its right of reverter, and the purchase price shall be due and payable promptly
following the Grantor's subsequent sale of the Property to a third party in the same manner that the
Grantor would sell the Property to a third party if the Grantor exercised its rights of reverter.
13. OnIy the Grantor, its successors and assigns, and the Grantee and the successors and
assigns of the Grantee in and to all or any part of the fee title to the Property shall have the rights to
consent and agree to changes or to eliminate in whole or in part any of the covenants contained in
this Grant Deed, to subject the Property to additional covenants, easements, or other restrictions, or
to consent and agree to changes in the Redevelopment Plan as they apply to the Property. For
purposes of this Section, successors and assigns of the Grantee shall be defined to include only those
parties who hold all or any part of the Property in fee title, and not to include a tenant, lessee,
easement holder, licensee, mortgagee, trustee, beneficiary under deed of trust, or any other person
or entity having an interest less than a fee in the Property.
In the event there is a conflict between the provisions of this Grant Deed and the DDA, it is
the intent of the parties hereto and their successors in interest that the DDA shall control.
GRANTOR: GRANTEE:
Los Gatos Redevelopment Agency, Silicon Valley Habitat for Hummanity, Inc.
By: By.
Its: Its.
ALL SIGNATURES MUST BE NOTARIZED
C Documenis and Settings mwoadworth' Local Settings`.Temp'Habitat Grant RDA wpd
-J-
INCORPORATED AUGUST 10, 1887
Za
TOWN OF Los GATOS
CERTIFICATE CONFIRMING TRANSFER
OF FUNDS FROM REDEVELOPMENT
AGENCY TO TOWN OF LOS GATOS
CONCERNING REAL PROPERTY ACQUISITION
CHARLES STREET, LOS GATOS, CA APN: 529-22-028
• CIVIC CENTER
110 E. Main STREET
P.O. Box 949
Los GATOS, CA 95031
This is to certify that Los Gatos Redevelopment Agency Housing Set Aside Funds in the amount
of TWO HUNDRED SIXTY THOUSAND DOLLARS ($260,000) have been transferred from
the Los Gatos Redevelopment Agency ("Agency") to the Town of Los Gatos for the acquisition
by the Agency of the above referenced Town -owned property for the purpose of conveying said
property to Silicon Valley Habitat for Humanity, Inc. ("Habitat"), in order to develop a deed
restricted affordable housing unit pursuant to the Disposition and Development Agreement
between the Agency and Habitat recorded in the official records of the Santa Clara County
Recorder on September 15, 2000, as document No. 15392414.
Debra J. Figone, Executive Director
APPROVED AS TO FORM:
Orry P. Korb, General Counsel
Date:
Exhibit 4
INCORPORATED AUGUST 10, 1887
SS
TOWN OF Los GATOS
CERTIFICATE ACCEPTING
REAL PROPERTY FROM
THE TOWN OF LOS GATOS
AT
CHARLES STREET, LOS GATOS, CA APN: 529-22-028
Civic CENTER
110 E. MAIN STREET
P.O. Box 949
Los GATOS, CA 95031
This is to certify that the interest in real property conveyed by the Town of Los Gatos„ a
California municipal corporation, to the Town of Los Gatos Redevelopment Agency, a California
public body corporate and politic, is hereby accepted by the undersigned officer on behalf of the
Board of Directors of the Town of Los Gatos Redevelopment Agency, pursuant to authority
conferred by section 2.30.025(d) of the Town Code of the Town of Los Gatos, adopted by the
Town Council on February 20, 1973, and Resolution No. , adopted by the Los Gatos
Redevelopment Agency on January , 2003, and the grantee consents to recordation thereof
by its duly authorized officer.
Debra J. Figone, Executive Director
APPROVED AS TO FORM:
Orry P. Korb, General Counsel
Date:
Exhibit 5
INCORPORATED AUGUST 10,1887
ii a
TOWN OF Los GATOS
'G REQUESTED BY
N RECORDED MAIL TO:
Town of Los Gatos Redevelopment Agency
110 Main Street
Los Gatos, California 95031
Attn: Redevelopment Manager
No fee for recording pursuant to
Government Code Section 27383
CFVJC CENTER
110 E. Main STRE.Er
P.O. Box 949
Los GATOS, CA 95031
RESALE RESTRICTION AGREEMENT AND OPTION TO PURCHASE
This Resale Restriction Agreement and Option to Purchase (the "Agreement") is entered
into as of , 2000, by and between the Town of Los Gatos Redevelopment
Agency (the "Agency") and (the "Owner"), with reference to the following
facts:
The Owner is buying the property described in the attached Exhibit A (the "Home"),
known commonly as Charles Street, as the Owner's principal residence. The Home was
developed by Silicon Valley Habitat for Humanity (the "Developer") pursuant to that certain
Disposition and Development Agreement between Agency and the Developer dated as of
, 2000 (the "DDA").
The DDA required the Developer to sell the Home to a household with an income not
greater than a threshold defined in the DDA, for a sales price not greater than an amount that
would cause the purchaser's monthly housing cost to be "affordable."
Without the restricted sales price for the Home under the DDA, the Owner would not
have been financially able to purchase the Home. In exchange for the ability to purchase the
Home, the Owner is agreeing to the resale restrictions on the Home set forth in this Agreement.
WITH REFERENCE TO THE FACTS RECITED ABOVE, the Agency and the Owner
(the "Parties") agree as follows: _
ARTICLE 1: DEFINITIONS
Section 1.1 Definitions
In addition to the terms defined elsewhere in this agreement, the following definitions
shall apply:
a. Adjusted Income means 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
N:\ATY`.RESALE. WPD
-1-
Exhibit 6
INCORPORATED AUGUST 10, 1887
TOWN OF Los GATOS
Option means the option to purchase the Home granted by the Owner. as r r
\JVIC ...ENTER
to the Optionee, as optionee, by this Agreement. When the Optionee exercisatiAIN STREET
the Owner must sell to the Optionee the Home, subject only to the Permitted ExceNRax.949
at the purchase price set forth in Section 2.4(d). Lo GATOS, CA 95031
J. Optionee means the Agency or any government, nonprofit corporation, or natural
person designated by the Agency to be the Optionee through a written notice delivered to the
Owner.
k. Parties means the Agency and the Owner.
1. Permitted Exceptions means this Agreement; the lien of assessments and ad
valorem taxes not yet due or payable; such other encumbrances that were e exceptions to title on
the date of this Agreement (other than taxes, assessments and encumbrances created or suffered
by the Owner); and the lien of Approved Loans.
m. Transfer means any voluntary or involuntary sale, assignment or other transfer of
ownership of the Home or any interest in the Home, including a fee simple interest, tenancy in
common, joint tenancy, community property, tenancy by the entireties, life estate or other
limited estate or leasehold in the Home, or any interest evidenced by a land contract.
n. Very Low Income Household means a household with an Adjusted Income that
does not exceed fifty percent (50%) of Median Income.
ARTICLE 2: TRANSFERS, RESALE RESTRICTIONS, AND OPTION
Section 2.1 Transfers Prohibited Except As Specifically Approved
a. The Owner shall not make or agree to make any Transfer except where the
Transfer is made as explicitly permitted by Section 2.1(b), 2.2 or 2.3. Any attempt by the Owner
to make a prohibited Transfer shall be void and shall trigger the Optionee's right to exercise the
Option in the manner described in Section 2.4.
b. The following Transfers are permitted by this Agreement and will not trigger the
Optionee's right to exercise the Option:
(1) Transfer by lifetime gift or by devise or inheritance to the Owner's spouse
(subject to Section 2.1(d));
(2) Transfer by devise or inheritance to the Owner's natural or adopted
children (subject to Section 2.1(c));
(3) Transfer by an Owner's death to a surviving joint tenant, tenant by
entireties or a surviving spouse of community property (subject to Section 2.1(c) or (d));
N:\ATY\RESALE.WPD
-3-
INCORPORATED AUGUST 10, 1887
i,,
TOWN OF Los GATOS
estate conveyed to the Grantee, if the DDA is terminated pursuant w SCt.tiuu 8.4 f the
LNIC CENTER
110 E. MAN STREET
P.O. Box 949
11. The Grantor shall have the right to institute such actions or proceedin l Tits, k95031
deem desirable for effectuating the purposes of this Section, including also the right to execute and
record or file with the Recorder of the County of Santa Clara a written declaration of the termination
of all rights and title of the Grantee, and its successors in interest and assigns, in all or that portion
of the Property and the re -vesting of title thereto in the Grantor. Any delay by the grantor in
instituting or prosecuting any such actions or proceedings or otherwise asserting its rights under this
Section shall not operate as a waiver of such rights or to deprive it of or limit such rights in any way
(it being the intent of this provision that Grantor should not be constrained so as to avoid the risk
of being deprived of or limited to the exercise of the remedy provided in this Section because of
concepts of waiver, laches, or others), nor shall any waiver in fact made by the Grantor with respect
to any other defaults by the Grantee or with respect to the particular default except to the extent
specifically waived.
12. The Grantor has an irrevocable option to purchase the Property in the event the DDA
is terminated pursuant to Section 8.4 of the DDA, and such termination occurs prior to the issuance
of an Estoppel Certificate of Completion by the Grantor. The purchase option may be exercised by
the Grantor delivering to the Grantee a notice of exercise of the option, upon which the Grantee shall
immediately convey the Property to the Grantor. The purchase price shall be the amount that would
be payable to the Grantee under Section 8.4 of the DDA and Section 10 of this Grant Deed if the
Grantor exercised its right of reverter, and the purchase price shall be due and payable promptly
following the Grantor's subsequent sale of the Property to a third party in the same manner that the
Grantor would sell the Property to a third party if the Grantor exercised its rights of reverter.
13. Only the Grantor, its successors and assigns, and the Grantee and the successors and
assigns of the Grantee in and to all or any part of the fee title to the Property shall have the rights
to consent and agree to changes or to eliminate in whole or in part any_ of the covenants contained
in this Grant Deed, to subject the Property to additional covenants, easements, or other restrictions,
or to consent and agree to changes in the Redevelopment Plan as they apply to the Property. For
purposes of this Section, successors and assigns of the Grantee shall be defined to include only those
parties who hold all or any part of the Property in fee title, and not to include a tenant, lessee,
easement holder, licensee, mortgagee, trustee, beneficiary under deed of trust, or any other person
or entity having an interest less than a fee in the Property.
In the event there is a conflict between the provisions of this Grant Deed and the DDA, it is
the intent of the parties hereto and their successors in interest that the DDA shall control.
Grantor:
Los Gatos Redevelopment Agency
By:
Its:
u :\ATY\GRANT. WPD
INCORPORATED AUGUST 10, 1887
to
VALLEY TITLF COMPANY
Escrow =
Cc. Bill e
TOWN OF;LOS GATOS
Code Area
- WHEN RECORDED MAIL TO
J
CIVIC CENTER
110 E. MAIN STREET
P.O. Box 949
Los GATos, CA 95031
THIS DEED OF TRUST, Made this
whose address is
Deed of Trust
SHORT FORM
day of Between
herein called TRUSTOR,
(Number and Streeo (Ord aarist (Siam
VALLEY TITLE COMPANY, a corporation, herein called TRUSTEE, and
, herein called BENEFICIARY
Wttnssseth: That Trustor irrevocably GRANTS, TRANSFERS AND ASSIGNS to TRUSTEE IN TRUST WITH POWER OF
SALE, the real property situated in the
County of , State of California, described as follows:
Together with the rent& issues and profits thereof. SUBJECT, HOWEVER, to the npht. power and authority given t0 and Conferred upon Beneficiary by
Psragrapn 5 of Part 8 of the provisions incorporated herein by reference to collect and goofy such rents. issues and profits
For the Purpose of Securing: 1. Performance Of each agreement of Trustor incorporated by reference or herein Contained 2. Payment Of the indebtedness
evidenced by one promissory note of even dale herewith in the Principal sum Of S payable t0 Beneficiary
or order. 3. Payment of additional sums and interest demon which may hereafter be boned to Trustor. or his successors or assigns, wren evidenced by a
promissory note or notes reeding that they are secured by thte Deed of Trust. Such addttbnel bans shall be secured hereby only it made to the owner of record
of said property et a Tint• wren he to such Owner of record
Trustor Agrees: By the execution and delivery of this Deed of Trust and the notes secured hereOy Me Daniell hereto agree that there're adopted and Included
reran for any and all purposes by ref e rence Y th ougn the lame were written ,n full herein the provisions of Section & including paraprapns l throupn 6 l hereof,
and of Section a. including persgraohs 1 through 10 thereof. Of that certain fictitious Deed 01 Trust recorded in the official records in the Offices o1 the County
RecorOers of the following countlea: San Mateo County on Jen. 10. 1963 in Book 4366 pg. 576: Santa Cruz County on F*4 25. 1965 in Boos 1677 pa 481
Alameda County on Jan 29. 1965 in Reel 1425 image 648: and in Santa Clara County on July 14. 1959 in Book 4480 pd. 441.
The undersigned Tremorresprata that a copy of any Notice of Default and of any Notice of Sale hereunder be mailed to him at he address
herefnbefore set forth.
STATE 01 CALIFORNIA
COUNTY of
Exhibit 7
On Nome me. the undersigned, a Notary Public in and for said County
and State. personally appeared
penonatly known to me or prevea 10 me O� me saws yr sa�msa.
instrument and ackn0wied9e0 triatIVCORI'OR.17-prrAtmicr;r719717rs,mY nano and Official Seal
within
to,
os
ATOS
PRCIMTSCQ � NOTE SLURED BY DEED OF TRUST
e, California
ary , 2003
CIVIC CENrER
110 E. MAIN STREET
P.O. Box 949
Los GATos, CA 95031
For value received, the undersigned, SILICON VALLEY HABITAT FOR HUMANITY,
INC., a California public benefit corporation ("Borrower"), promises to pay to the order of
TOWN OF LOS GATOS REDEVELOPMENT AGENCY, a public body corporate and politic
("Lender"), at 110 E. Main Street, Los Gatos, CA or at any other place that may be designated in
writing by Lender, the principal sum of $ 260,000. All sums due are payable in lawful money of
the United States of America.
This Note is secured by, among other things, the Deed of Trust Short Form of the same
date as this Note, executed by Borrower, as trustor, in favor of Lender, as beneficiary ("Deed of
Trust"), and encumbering the real property described in the Deed of Trust ("Property"). The
holder of this Note will be entitled to the benefits of the security provided by the Deed of Trust
and will have the.right to enforce the covenants and agreements of Borrower contained in the
Deed of Trust.
Borrower will pay to Lender the principal amount of this Note, and accrued interest, as
follows:
Pursuant to a Disposition and Development Agreement between the Lender and
Borrower, recorded September 15, 2000, as document No. 15392414 ("DDA"), Borrower shall
pay Lender $260,000, which payment shall be deferred until issuance of an Estoppel Certificate
of Completion pursuant to the DDA for the Property, at which time the obligation to make the
payment shall be forgiven and the Deed of Trust reconveyed.
If Borrower fails to obtain the Estoppel Certificate of Completion pursuant to Article 5 of
the DDA, and Borrower shall fail to cure said breach or failure as set forth in subsection (b) of
section 8.4of the DDA, said failure or breach shall constitute a "Developer Event of Default"
pursuant to that subsection (b) of section 8.4 of the DDA and Lender shall have all the rights set
forth therein.
Borrower will pay to Lender all sums owing under this Note without deduction, offset, or
counterclaim of any kind. The relationship of Borrower and Lender under this Note is solely that
of borrower and lender, and the loan evidenced by this Note and secured by the Deed of Trust
will in no manner make Lender the partner or joint venturer of Borrower. •
If any attorney is engaged by Lender to enforce or construe any provision of this Note, the
Deed of Trust, or the other Loan Documents (defined in the Deed of Trust) or as a consequence
of any Event of Default, with or without the filing of any legal action or proceeding, then
Borrower will immediately pay to Lender on demand all attorney fees and other costs incurred by
Lender.
No previous waiver or failure or delay by Lender in acting with respect to the terms of
this Note, the Deed of Trust, or the other Loan Documents will constitute a waiver of any breach,
default, or failure of condition under this Note, the Deed of Trust, or the other Loan Documents.
A waiver of any term of this Note, the Deed of Trust, or the other'Loan Documents must be made
in writing and will be limited to the express written terms of the waiver. If there are any
inconsistencies between the terms of this Note and the terms of any of the other Loan
Documents, the terms of this Note will prevail.
Exhibit 8
INCORPORATED AUGUST 10,1887
Silicon Vallev-
�ti�• «nauimaarnose.org
manirv, Inc.
et, Suite 215
6464 -
TOWN OF LOS GATOS
Marty Woodworth
Redevelopment Manager
Community Development Department
Town of Los Gatos
Civic Center, 110 E. Main St.
P.O. Box 949
Los Gatos CA, 95031
Dear Marty:
110 E.
P.O. Box 949
Los GAros, CA 95031
January 9, 2003
You asked me to write to explain the process involved in
selecting the family for the Los Gatos home to be built at 25
Charles Street.
The mission of Silicon Valley Habitat for Humanity is, with
the community; to help low income families build and own their
own homes. The family is required to make their down payment
with 500 hours of sweat equity. This is the equivalent of 3 months
of 40-hour weeks, not easily done by people usually already
working 40 or more hours per week. The no interest mortgage is
paid off over thirty years.
The family selection process began with community
meetings at St. Mary's Church and Congregation Shir Hadish-
Reform in September of this year. Selection involved applying
firm criteria including: presently living in substandard housing,
having an income of less than 50%of the median in our area, a
reasonable credit history, living or working in Los Gatos, and U.S.
citizenship. Following completion of their applications the families
are visited in their present living situations by two separate teams
of interviewers. The Family Selection Committee makes a
recommendation to the Board of Directors who then vote based
on their evaluation and report. The attached press release on our
historic restoration in San Jose contains further information on
the family selection process.
Attachment 2
INCORPORATED AUGUST 10, 1887
za
Habitattiorth8thSt.
TOWN OF LOS GATOS
Pagio1
Press Release
FOR IMMEDIATE RELEASE
CIVIC CENTER
110 E. MAIN STREET
P.O. Box 949
Los GATC�, CA 95031
For More Information Contact:
Chata Alfaro, SVHFH Interim Exe. Dir.
(408) 294-6464, calfaro@habitatsanjose.org or
Ginger Taylor McDonald, GTM Marketing (volunteer)
(408) 396-2622, ginger@gtmmarketing.corn
City of San Jose & San Jose Redevelopment Agency
Gift Victorian to Silicon Valley Habitat for Humanity
SAN JOSE, CA...Silicon Valley Habitat for Humanity (SVHFH), in partnership with the City
of San Jose and San Jose Redevelopment Agency celebrate the start of restoration on a four -
bedroom historical Queen Anne Victorian. It will take place on Saturday, January 11, 2003 at
157 North 8th Street, at 11 a.m., announced Chata Alfaro, Interim Executive Director. "The
house is one of several that were moved from the future site of the San Jose City Hall and
relocated throughout the city, because of their historical value."
"In addition to providing affordable housing opportunities to the residents of San Jose, this
partnership plays a vital role in revitalizing Downtown neighborhoods," said Susan Shick,
Executive Director of the San Jose Redevelopment Agency. "Working together, we can
increase the possibility of homeownership in San Jose."
Cindy Chavez, City Councilwoman of District 13, said, "The City of San Jose continues to find
creative ways to provide more affordable housing to our economically diverse community.
Affordable housing gives families the opportunity to build a base in San Jose and provides them
with the feeling of stability, integrity, and pride in their neighborhood. This Habitat for
Humanity project is an enormous accomplishment for our community and an example of how
innovative thinking can increase the quality life for our families."
"SVHFH is also proud to announce that the cost to restore the house is made possible by our
sponsors: The late Mrs. Gail Paulson, Dave Paulson and their family, The Congregation of
Good Samaritan United Methodist Church in Cupertino, and The Myra Reinhard Family
Foundation," said Alfaro.
Pam Brotherton-Sedano, chair of the SVHfH Family Selection Committee, said, "The ceremony
marks the beginning of a dramatic change in the lives of Mr. & Mrs. Villagomez and their three
children, They are hard working individuals who because of their low-income were forced to
live in overcrowded, substandard dwellings. The Villagomez were selected from a List of more
than 85 applicants."
file://D:1HabitatSJ8thStPR.html 1 /9/03
INCORPORATED AUGUST 10,1887
! ianitatINortnzstnst.
Page 3of3
•
tential families livin• , , , OF .OS a TOS
ent substandard living conditions, and their ability to make small monthly hoeCIVICC�R
S. The selected families must invest 500 hours of "sweat equity" in the construe. M Box03sx 949
��TOS
omes. Working side -by -side, future homeowner families, donors, and other H ®'1
, CA 95031
volunteers create a spirit of partnership and develop a sense of community that benefits
everyone.
Once the construction is completed, Habitat sells the homes at no profit to the homeowner
family, who pay over 30 years, small monthly NO INTEREST MORTGAGE PAYMENTS.
Mortgage payments are recycled to build future homes for more needy families.
Family Selection Guidelines
Habitat welcomes applications from all families. Habitat does not discriminate based on race,
color, religion, national origin, sex, handicapping condition, family status, marital status, or age
(except that the applicant and co -applicant must be legally able and competent to enter into a
binding agreement). Subject to special exception, a family unit may not exceed the capacity of
the Habitat home (any more than two persons per bedroom).
Eligibility
The family must live or work within the city limits of San Jose.
1) The family must meet current income guidelines for Habitat eligibility as adopted by the .
Board of Directors.
a) The family does not qualify for conventional real estate financing.
b) The family must have a history of financial responsibility.
c) The family must have a history of steady income.
d) There must be demonstrated ability to repay the loan to Habitat.
e) There must be a willingness, desire, and commitment by the family to participate in the
planning and building of the home or in the building of Habitat homes for others.
fj The family must invest 500 hours of labor working on their home.
g) The applicant, co -applicant, and additional wage earners must be permanent residents or
citizens of the United States.
###
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INCORPORATED AUGUST 10, 1887
Za