Laserfiche WebLink
agent may require each Eligible Household to certify the Written Verification. <br /> 3.2 Annual Report: Inspections. If Owner elects to rent the Restricted Unit, then <br /> Owner shall submit an annual report ("JADU Inclusionary Unit Annual Survey") in <br /> substantially the same form as attached Exhibit C. The Annual Report shall, at a minimum, <br /> include the following information: (a) identification of the Restricted Unit by address; (b) the <br /> monthly rents charged and proposed to be charged; (c) the number of people residing in <br /> the Restricted Unit; and (d) the total household income of residents. Upon City's request, <br /> Owner shall include with the Annual Report a copy of the Written Verification Owner <br /> obtained pursuant to Section 3.1 above, and such additional information as City may <br /> reasonably request from time to time in order to show compliance with this Agreement. <br /> 4. Term of Agreement. <br /> 4.1 Term of Restrictions. This Agreement shall remain in perpetuity. <br /> 4.2 Effectiveness Succeeds Conveyance of Property. This Agreement shall <br /> remain effective and fully binding for the full term hereof regardless of any sale, <br /> assignment,transfer, or conveyance of the Property, unless this Agreement is terminated <br /> earlier by City in a recorded writing. <br /> 5. Binding Upon Successors: Covenants to Run with the Land. Owner hereby <br /> subjects its interest in the Property to the covenants and restrictions set forth in this <br /> Agreement. City and Owner hereby declare their express intent that the covenants and <br /> restrictions set forth herein shall be deemed covenants running with the land and shall be <br /> binding upon and inure to the benefit of the heirs, administrators, executors, successors in <br /> interest, transferees, and assigns of Owner and City, regardless of any sale, assignment, <br /> conveyance or transfer of the Property or any part thereof or interest therein. Each <br /> reference in this Agreement to a specifically named party shall be deemed to mean a <br /> reference to the successor of each such Party. Any successor-in-interest to Owner, <br /> including without limitation any purchaser, transferee or lessee of the Property (other than <br /> the tenants of the Restrictive Unit within the Property) shall be subject to all of the duties <br /> and obligations imposed hereby for the full term of this Agreement. Each and every <br /> contract, deed, ground lease or other instrument affecting or conveying the Property or any <br /> part thereof, shall conclusively be held to have been executed, delivered and accepted <br /> subject to the covenants, restrictions, duties and obligations set forth herein, regardless of <br /> whether such covenants, restrictions, duties and obligations are set forth in such contract, <br /> deed, ground lease or other instrument. If any such contract, deed, ground lease or other <br /> instrument has been executed prior to the date hereof, Owner hereby covenants to obtain <br /> and deliver to City an instrument in recordable form signed by the parties to such contract, <br /> deed, ground lease or other instrument pursuant to which such parties acknowledge and <br /> accept this Agreement and agree to be bound hereby. <br /> Owner agrees for itself and for its successors that in the event that a court of <br /> competent jurisdiction determines that the covenants herein do not run with the land, such <br /> covenants shall be enforced as equitable servitudes against the Property in favor of City. <br /> 6. Property Management: Repair and Maintenance: Marketing. <br /> 4 <br />