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GROUND LEASE - RIDGE VIEW COMMONS II
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GROUND LEASE - RIDGE VIEW COMMONS II
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8/22/2024 1:40:57 PM
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
6/1/2024
LONG TERM AGREEMENTS - NAME
GROUND LEASE - RIDGE VIEW COMMONS II
LONG TERM AGREEMENTS - TYPE
MISC AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06 (Long Term Agreements)
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
LONG TERM AGREEMENTS - NOTES
LOC IN RC II FOLDER
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• Agreement by the tenant not to hold Owner or Owner's agents legally responsible <br />for any action or failure to act, whether intentional or negligent; <br />• Agreement of the tenant that Owner or Owner's agent may institute a lawsuit <br />without notice to the tenant; <br />• Agreement by the tenant that Owner or Owner's agent may evict the tenant or <br />household members without instituting a civil court proceeding in which the <br />tenant has the opportunity to present a defense, or before a court decision on the <br />rights of the parties; <br />• Agreement by the tenant to waive any right to a trial by jury; <br />• Agreement by the tenant to waive tenant's right to appeal, or to otherwise <br />challenge in court, a court decision in connection with the lease; and <br />• Agreement by the tenant to pay attorneys' fees or other legal costs even if the <br />tenant wins in a court proceeding by Owner against the tenant. The tenant, <br />however, may be obligated to pay costs if the tenant loses. <br />4. Reporting Requirements; Annual Monitoring Fee; Inspections. <br />4.1 Financia] Accounting and Post -Completion Audit. No later than 60 days <br />following City's issuance of a final certificate of occupancy or equivalent following completion <br />of Project rehabilitation, Owner shall provide to City a summary of all sources and uses of funds <br />for the Project and a draft of the Project Cost Certification. <br />4.2 Tenant Certification. Owner or Owner's authorized agent shall obtain from each <br />household prior to initial occupancy of each Restricted Unit, and on every anniversary thereafter, <br />a written certificate containing all of the following in such format and with such supporting <br />documentation as City may reasonably require: <br />(i) The identity of each household member; <br />(ii) The total household Gross Income; and <br />(iii) The age of each household member or other basis upon which the household <br />qualifies as an Eligible Household. <br />Owner shall retain such certificates for not less than five (5) years, and upon City's request, shall <br />provide copies of such certificates to City and make the originals available for City inspection. <br />4.3 Monitoring Fee. Following completion of rehabilitation of the Project, as <br />evidenced by City's issuance of a final certificate of occupancy or equivalent, Owner shall be <br />obligated to pay to City an annual fee (the "Affordable Housing Monitoring Fee") in the <br />amount of (Ten Thousand Dollars ($10,000). The Affordable Housing Monitoring Fee is payable <br />annually on the same date that the Annual Report is due pursuant to Section 4.4 below. City shall <br />have the right to file a lien against the Project if the Affordable Housing Monitoring Fee is not <br />4879-3324-5885v3 17 <br />
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