The URL can be used to link to this page

Home My WebLink AboutRC 20171212000442 When recorded return to: City Clerk � � � City of Renton IIIIt\ItIIItI\H tIII11111110ii 11 1055 South Grady Way 20171212000442 Renton, WA 98057-3232 COVENANT Nec:$80.00 12/12/2017 10:1$AM KING COUNTY,WA AFFORDABLE HOUSING RESTRICTIVE Assessor's Property Parcel/Tax Account COVENANT AND AGREEMENT Number: 0739000055 Reference Number(s) of Documents assigned or released: N/A Grantor(s): Grantee(s): • 1. Drofiak Properties LLC, a 1. City of Renton, a Washington municipal Washington limited liability company corporation 2. Vladimir Drofiak 3. Lilia Drofiak LEGAL DESCRIPTION: (Abbreviated or full legal must go here. Additional legal on page 2-3) LOT 11, BLOCK 1, BENSON HEIGHTS, VOL. 48 OF PLATS, PAGE 98 EXCEPT THE NORTH 892 FEET THEREOF: AND EXCEPT THE PORTION CONVEYED TO KING COUNTY FOR PETROVITSKY ROAD AFFORDABLE HOUSING RESTRICTIVE COVENANT AND AGREEMENT This Affordable Housing Restrictive Covenant and Agreement ("Covenant") dated this 5 day of �e , 2017, is entered into between the City of Renton (the"City"), a Washington State Municipality and Drofiak Properties LLC, a Washington State limited liability corporation located at 15012 SE 253rd Place, Covington, Washington 98042, Vladmir Drofiak and Lilia Drofiak, hiisband and wif , (collectively the "Owner") of the property known as A-t ,PK'i- i° e.4 , LCC . This Covenant applies to the real property and any buildings constructed on the property (the "Subject Property"), properly described in Paragraph 1. Page 1 of 7 f i I. RECITALS WHEREAS,Drofiak Properties LLC,will be constructing or has constructed homes in a new development named Sunridge Towhhomes (the "Development"); WHEREAS, Drofiak Properties LLC will be constructing a nine (9) unit townhome subdivision within the City of Renton; WHEREAS, as a condition of the City of Renton approving the Development in accordance with its density bonus provision, as allowed by RMC 4-9-065, for affordable housing zoning as defined under RMC 4-11-010,the City has required a certain percentage of the homes within the Development be maintained as affordable housing; WHEREAS, this Covenant is designed to satisfy the conditions of the Renton Municipal Code by requiring that a minimum of one (1) unit be constructed on the Subject Property be maintained in perpetuity as affordable housing; WHEREAS,this Covenant shall run with the land and apply to and be enforceable against all current and future owners of the Subject Property, and shall restrict and impose limitations on the sale, resale, lease, rental, mortgaging and use of the Subject Property by the Owner, and its successors and assigns, in perpetuity; WHEREAS, for and in consideration of the restrictive covenant, receipt of which is hereby acknowledged, on the Subject Property by the Owner, the City agrees to waive certain development and mitigation fees as allowed by RMC 4-1-210; WHEREAS the Owner recognizes the special nature of the terms and conditions of this Covenant and, with the independent and informed advice of legal counsel, freely accepts the terms and conditions of this Covenant, including, without limitation, the terms and conditions that affect the marketability and the resale price of the Subject Property; and THEREFORE, in consideration of the foregoing recitals and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 1. The covenants shall apply to the following identified "Subject Property" Legal: LOT 11, BLOCK 1, BENSON HEIGHTS, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 48 OF PLATS, PAGE 98, IN KING, COUNTY, WASHINGTON; Page 2 of 7 EXCEPT THE NORTH 892 FEET THEREOF: AND EXCEPT THE PORTION CONVEYED TO KING COUNTY FOR PETROVITSKY ROAD BY DEED RECORDED UNDER RECORIDING NUMBER 85099051041; (ALSO KNOWN AS LOT A OF KING COUNTY LOT LINE ADJUSTMENT NUMBER 180037, RECORDED UNDER RECORDING NUMBER 9002051035). Parcel No. 073900-0055 Address: 12228 SE Petrovitsky Rd. Renton, WA 98058 2. The Subject Property identified in Paragraph 1 must meet the definition of affordable housing found in RMC 4-11-010 and can only be sold or leased to residents whose household income is less than eighty percent(80%)of the median annual income adjusted for household size, as determined by the Department of Housing and Urban Development (HUD) for the Seattle Metropolitan Statistical Area, and who pay no more than thirty percent (30%) of household income for housing expenses. 3. Any sale or lease of the Subject Property identified in Paragraph 1 to any party or individual that is not in compliance with Paragraph 2 shall contravene the intent of this Covenant and be null and void. 4. The City of Renton shall be entitled to enforce these covenants as an intended beneficiary thereof. 5. The provisions of these paragraphs governing the sale or lease of the Subject Property shall run with the land and bind all holders, owners, lessees, occupiers, and purchasers of the Subject Property. These restrictive covenants apply in perpetuity and every subsequent instrument conveying an interest in all or any portion of the Subject Property shall include the restrictive covenant. 6. Owner shall cause the requirements of the restrictive covenant to be placed in all instruments that convey an interest in the Subject Property and shall file this document with the King County Recorder's Office, Seattle, Washington. 7. In any action of any kind relating to enforcement of this Restrictive Covenant the prevailing party shall be entitled to collect reasonable attorneys' fees and costs Page 3 of 7 from the non-prevailing party in addition to any other recovery to which the prevailing party is entitled. 8. All parties agree to cooperate fully and execute any and all supplementary documents and to take all additional actions which may be necessary or appropriate to give full force and effect to the basic terms and intent of this Covenant. 9. The interpretation and enforcement of this Covenant shall be governed by the laws of the State of Washington and venue shall be proper in King County, Washington. 10. The waiver by one party of any provision or breach of this Covenant shall not be deemed a waiver of any other provision or breach of this Covenant. 11 If any provision of this Covenant shall be held by a court of proper jurisdiction to be invalid or unenforceable; the remaining provisions shall survive and their validity, legality and enforceability shall not in any way be affected or impaired thereby; and the court may, but shall not be required to, fashion a substitute for the provision held to be invalid or unenforceable. [The remainder of this page is blank; signatures are on the next page.] Page 4 of 7 r Executed this day of JC -�11,,,-- , 2017. { DROFIAK PROPERTIES LLC By: 1 '.7'.V- fir-e-,k; `A( Its: Pre ce eft/ STATE OF WASHINGTON ) ) ss. . COUNTY OF ) I certify that I know or have satisfactory evidence that \I\cAtrt(' Nt.,C,sv , known to me to be the Y.t•-•tz._-A-6 - of Drofiak Properties LLC, signed this instrument and acknowledged it to be the free and voluntary act of said limited liability company, for the uses and purposes mentioned in the instrument. Dated this day of rc. -)el' , 2017. . Printed Name: 0,cr1C�S M.er-,c re s NOTARY PUBLIC in and for the State of . Notary Public Washington, residing at: 4.cc-‘s \c-x....,1- ,• State of WashingtonMycommission ex ires: \3 CARLOS COLMENARES p 9 G� My Appointment Expires Sep 23,2019 Page 5 of 7 ( fn 'Q-� Executed this -.S day of / , 2017. Vladmir Drofiak ti STATE OF WASHINGTON ss. COUNTY OF I certify that I know or have satisfactory evidence that Vladimir Drofiak signed this instrument and acknowledged it to be his free and voluntary act for the uses and purposes mentioned in the instrument. Dated this S day of )t- , 2017. Printed Name: _ h•Rn _ 1NOTARY PUBLIC in and for the State of Notary c State of Washington Washington, residing at: tCf C <ra� � CARLOS COLMENARES ' My commission expires: \ -3 19 My Appointment Expires Sep 23, 2019 } Page 6 of 7 10 Executed this 05 day of e. ,e, 2017. 111110 . Lilia Drofiak STATE OF WASHINGTON ) SS. COUNTY OF ) I certify that I know or have satisfactory evidence that Lilia Drofiak signed this instrument and acknowledged it to be her free and voluntary act for the uses and purposes mentioned in the instrument. DATED this 5 day of es" cam!' , 2017. i Printed Name: 0_,c r\ s Q.c`r c rte. Notary Public NOTARY PUBLIC in and for the State of • State of Washington CARLOS COLMENARES Washington, residing at: Rc,,..c5 CvAlc My Appointment Expires Sep 23,2019 My commission expires: 9\D..1 cc" Page 7 of 7 1