22-1221_PASEO ADELANTO HOUSING PARTNERS LP_Regulatory Agreement..:CORDif•i3 REOUESIED BY
FIRST AMERICAN TITLE INSURANCE CO.
NATIONAL COMMERCIAL SERVICES
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RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
City of San Juan Capistrano
32400 Paseo Adelanto
San Juan Capistrano, California 92675
Attn: City Clerk
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Recorded in Official Records, Orange County
Hugh Nguyen, Clerk -Recorder
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[SPACE ABOVE FOR RECORDER'S USE ONLY] /
[EXEMPT FROM RECORDING FEE PER llllf
GOVERNMENT CODE §273831
31�
REGULATORY AGREEMENT
(City Hall — Paseo Adelanto Mixed Use Permanent Supportive Housing)
by and between
THE CITY OF SAN JUAN CAPISTRANO,
a California municipal corporation,
and
PASEO ADELANTO HOUSING PARTNERS LP,
a California limited partnership
I Dated as of DECEMBER 1, 2022, for reference purposes only]
Exempt from fee per
GC 27388.1 (a)(1);
fee cap of $225.00 reached
61147.80021 \40183274.4
REGULATORY AGREEMENT
(City Hall — Paseo Adelanto Mixed Use Permanent Supportive Housing)
This REGULATORY AGREEMENT (City Hall — Paseo Adelanto Mixed Use Permanent
Supportive Housing) ("Regulatory Agreement") is made and entered into as of December 1,
2022, by and between THE CITY OF SAN JUAN CAPISTRANO, a California municipal
corporation ("City") and PASEO ADELANTO HOUSING PARTNERS LP, a California limited
partnership ("Owner").
RECITALS
A. The City and the Owner's predecessor -in -interest entered into that certain
Affordable Housing Disposition and Development Agreement (City Hall — Paseo Adelanto Mixed
Use Permanent Supportive Housing) dated as of November 14, 2022 (the "Affordable Housing
Agreement"), which provides that the City will convey to the Owner that certain real property
located at 32400 Paseo Adelanto, more specifically described in Attachment No. 1, incorporated
herein by this reference (the "PSH Property"), subject to the terms and conditions of the
Affordable Housing Agreement. Under the Affordable Housing Agreement, the City has agreed
to sell the PSH Property to Owner, for the construction and operation thereon by the Owner of a
permanent supportive housing apartment community containing fifty (50) units with housing for
extremely low- and very low-income households earning fifty percent (50%) or less of the area
median income (the "PSH Project").
B. The City and the Owner desire that the PSH Project be operated as a Permanent
Supportive Housing development on the PSH Property with the residential units made available to
Qualified Households at an Affordable Rent as more specifically defined herein. This Regulatory
Agreement establishes terms and conditions which govern the operation of the PSH Property.
C. The terms of the Affordable Housing Agreement require that certain covenants and
affordability restrictions remain in full force and effect on the PSH Project for a term commencing
on the date of recordation of this Regulatory Agreement and continuing for fifty-five (55) years
following the recordation of Certificate of Completion as defined herein.
NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS AND
UNDERTAKINGS SET FORTH HEREIN, AND FOR OTHER GOOD AND VALUABLE
CONSIDERATION, THE RECEIPT AND SUFFICIENCY OF WHICH IS HEREBY
ACKNOWLEDGED, THE OWNER AND THE CITY DO HEREBY COVENANT AND
AGREE FOR THEMSELVES, THEIR SUCCESSORS AND ASSIGNS AS FOLLOWS:
1. Definitions of Certain Terms. As used in this Regulatory Agreement, the following words
and terms shall have the meaning as provided in the Recitals or in this Section 1. All initially
capitalized terms used and not otherwise defined in the Recitals or in this Section 1 shall have
the meaning ascribed to such term by the Affordable Housing Agreement.
1.1. 30% Household. An individual or household that has a household income equal to
or less than thirty percent (30%) of then current AMI adjusted for household size, as published by
TCAC annually.
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1.2 50% Household. An individual or household that has a household income equal to
or less than fifty percent (50%) of then current AMI adjusted for household size, as published by
TCAC annually.
1.3 Affordable Rent. In reference to each Qualifying Unit, the maximum rent, with
allowance for utilities, for the applicable household income as published by TCAC annually to
qualify for, receive and be in compliance with the applicable program for the Tax Credits. For
purposes of the calculation of Affordable Rent "adjusted for household size" shall be the federally -
mandated household size assumptions as set forth in federal statutes or regulations for the Tax
Credit program.
1.4 AMI. The Area Median Family Income for the Santa Ana -Anaheim -Irvine, CA
HUD Metro FMR Area, as published annually by HUD.
1.5 Annual Report. The Certification of Continuing Program Compliance attached to
this Regulatory Agreement as Attachment No. 3 and incorporated by this reference or comparable
report filed annually by the Owner with TCAC or other governmental agencies.
1.6 Automobile Liability Insurance. Insurance coverage against claims of personal
injury (including bodily injury and death) and property damage covering all the Owner owned,
leased, hired and non -owned vehicles, with minimum limits for bodily injury and property damage
of One Million Dollars ($1,000,000). Such insurance shall be provided by a business or
commercial vehicle policy and may be provided through a combination of primary and excess or
umbrella policies, all of which shall be subject to pre -approval by the City, which approval shall
not be unreasonably withheld, delayed or conditioned.
1.7 Certificate of Completion. The written certification of the City, in substantially the
form of Exhibit F attached to the Affordable Housing Agreement, certifying that the PSH Project
has been completed in compliance with the terms and conditions of the Affordable Housing
Agreement and this Regulatory Agreement.
1.8 City Parties. Collectively, the City and its commissions, agents, attorneys, officers,
employees, and authorized representatives.
1.9 HUD. The United States Department of Housing and Urban Development.
1.10 Income Certification Form. The Certification of Tenant Eligibility attached to this
Regulatory Agreement as Attachment No. 2 and incorporated by this reference, or comparable
income certification form required by TCAC or other governmental agencies.
1.11 Liability Insurance. Commercial general liability insurance against claims for
bodily injury, personal injury, death, or property damage occurring upon, in, or about the PSH
Property, the PSH Project or adjoining streets or passageways, at least as broad as Insurance
Services Office Occurrence Form CG0001, with a minimum liability limit of Two Million Dollars
($2,000,000) for any one occurrence and which may be provided through a combination of primary
and excess or umbrella insurance policies. If commercial general liability insurance or other form
with a general aggregate limit is used, either the general aggregate limit shall apply separately to
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the PSH Project or the general aggregate limit shall be twice the required minimum liability limit
for any one occurrence.
1.12 Management Agent. A person with significant experience in management of
affordable rental housing projects substantially similar to the PSH Project and that is, at the time,
managing other financially self-supporting, successful affordable rental housing projects
substantially similar to the PSH Project.
1.13 Manager Unit. The one (1) two bedroom unit within the PSH Project reserved
exclusively for use by the on-site manager employed by the Owner or the Management Agent, as
applicable.
1.14 One Bedroom Unit. Any one of the one bedroom residential accommodations
within the PSH Project.
1.15 PSH Project. The operation of a Permanent Supportive Housing development
project which shall include not less than fifty (50) units, of which twenty-four (24) units shall be
rented to Qualified Households at Affordable Rents, and all related on- and off-site improvements,
as more particularly described in the Affordable Housing Agreement.
1.16 Property Insurance. Insurance providing coverage for the PSH Property and all
improvements on or to the PSH Property against loss, damage, or destruction by fire and other
hazards encompassed under the broadest form of property insurance coverage then customarily
used for like properties in the County of Orange, excluding earthquake coverage, in an amount
equal to one hundred percent (100%) of the replacement value (without deduction for depreciation)
of all improvements comprising the PSH Project (excluding excavations and foundations) and in
any event sufficient to avoid co-insurance and with no co-insurance penalty provision, with
"ordinance or law" coverage. To the extent customary for like properties in the County of Orange
at the time, such insurance shall include coverage for explosion of steam and pressure boilers and
similar apparatus located on the PSH Property; an "increased cost of construction" endorsement;
and an endorsement covering demolition and cost of debris removal, all subject to policy sublimits.
Property Insurance shall also include rental or business interruption insurance in an amount, at
least, equal to the average annual gross income from the PSH Project for the preceding three (3)
calendar years and providing for a 12 -month extended period of indemnity.
1.17 Qualified Households. A household that (1) intends to reside in the Qualifying Unit;
and (2) whose income does not exceed the maximum income allowable for the subject Qualifying
Unit.
1.18 Qualifying Units. The twenty-four (24) One Bedroom Units within the PSH Project
restricted to occupancy by Qualified Households as set forth in Section 6.
1.19 Tax Credits. An allocation from TCAC of nine percent (9%) federal low income
housing tax credits to finance a portion of the costs of the PSH Project, in accordance with Section
42 of the Internal Revenue Code of 1986, as amended, all associated Internal Revenue Service
regulations and all associated TCAC regulations.
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1.20 TCAC. The California Tax Credit Allocation Committee or its successor in
function.
1.21 Term. The period of time following the date of recordation of this Regulatory
Agreement, and ending on the fifty-fifth (55th) anniversary of recordation of the Certificate of
Completion.
1.22 Workers Compensation Insurance. Workers compensation insurance complying
with the provisions of California law and an employer's liability insurance policy or endorsement
to a liability insurance policy, with a minimum liability limit of One Million Dollars ($1,000,000)
per accident for bodily injury or disease, covering all employees of the Owner.
2. Reservation of Property for Affordable Housing. The Owner covenants and agrees to
reserve and restrict the PSH Property for construction of the PSH Project and, thereafter, reserve
and restrict use and residential occupancy of the Qualifying Units by households who, at the time
of initial occupancy of a Qualifying Unit and continuously thereafter (subject to the other
provisions of this Regulatory Agreement), until .the end of the Term, are members of a
Qualifying Household. One (1) two bedroom unit within the PSH Project may be used as a
Manager Unit at any given time.
3. Affordable Permanent Supportive Housine Residential Rental Property Restrictive
Covenant. The Owner covenants to and for the benefit of the City that the Owner shall develop,
own, manage and operate, or cause the management and operation of, the PSH Project to provide
permanent supportive rental housing in the Qualifying Units only to Qualifying Households at an
Affordable Rent. The Owner hereby confirms and remakes its covenant set forth in Section 4.1
of the Affordable Housing Agreement to develop the PSH Property with the PSH Project and
such covenant is incorporated into this Regulatory Agreement in its entirety by this reference.
The Owner will not knowingly permit any Qualifying Unit to be used on a transient basis and
will not lease or rent any Qualifying Unit for an initial period of less than twelve (12) months.
No Qualifying Unit will, at any time, be leased or rented for use as a hotel, motel, time share,
dormitory, fraternity house, sorority house, rooming house, hospital, nursing home, sanitary or
rest home.
4. Continuous Operation Covenant. The Owner covenants to and for the benefit of the City
to cause the PSH Project to be continuously operated, in accordance with the other provisions of
this Regulatory Agreement, throughout the Term.
5. Abandonment. The Owner shall not abandon or surrender the operation of all or any part
of the PSH Project during the Term, except due to material casualty or condemnation.
6. Rental of Oualifyine Units. The Owner covenants that each Qualifying Unit shall be
occupied or available for occupancy by a Qualifying Household at an Affordable Rent on a
continuous basis throughout the Term, in accordance with the following tenant income level mix:
6.1 Not less than fifteen (15) of the One Bedroom Units shall be occupied or available
for occupancy by Qualifying Households that are 30% Households; and
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6.2 Not less than nine (9) of the One Bedroom Units shall be occupied or available for
occupancy by Qualifying Households that are 50% Households.
It is anticipated that the PSH Property will be supported by Project -Based Section 8 rental
subsidy payments (the "Rental .Subsidy"). If, during the Term, any change in federal law or
regulations occurs, or any action (or inaction) by Congress or any federal or State agency occurs,
which results in a reduction, termination, or nonrenewal of the Rental Subsidy through no fault of
Owner, such that the Rental Subsidy as it exists as of the date of this Regulatory Agreement is no
longer available (or available in a lesser amount), Owner may request approval of City to (i) allow
households with adjusted incomes that do not exceed sixty percent (60%) of then current AMI
adjusted for household size, as published by TCAC annually ("60% AMI Households"), to
occupy the Qualifying Units, and (ii) increase the rent on one or more of the Qualifying Units, to
rents that are affordable to 60% AMI Households, as outlined herein.
The income limit and rent increases described in subsections (i) and (ii) above are subject
to the following requirements: concurrently with the request, Owner shall provide the City with
(a) evidence of the anticipated reduction, termination, or nonrenewal of the Rental Subsidy, (b) a
management plan for the PSH Project for the City's approval (such approval not to be
unreasonably withheld of delayed), showing the impact of the loss or reduction of the Rental
Subsidy, (c) a proposed operating budget reflecting the rent increases (the "Operating Budget"),
and (d) a description of Owner's efforts to obtain alternate sources of rental subsidies, and, if the
foregoing requirements are completed to the City's reasonable satisfaction, subject to the
limitations set forth in the immediately succeeding sentence, the City shall approve Owner's
request to increase the income limits and rent restrictions applicable to the Qualifying Units. The
number of Qualifying Units subject to the rent increase and the amount of the proposed increase
may not be greater than (i) the number or amount required to ensure that the PSH Project generates
sufficient income to cover its operating costs, required deposits to replacement reserves, and debt
service payments on approved financing as shown on the Operating Budget (together, the
"Minimum Liabilities"), and (ii) such amount as is necessary for the PSH Project to maintain a
debt service coverage ratio of at least 1.15 to 1.00 (the "Debt Service Coverage Ratio"). As used
herein, "Debt Service Coverage Ratio" means, for any period, the ratio of (a) net operating income
for such period to (b) all principal and interest payments due and payable during such period,
regardless of whether the PSH Project is generating sufficient cash flow. In addition, upon a
reduction, termination, or nonrenewal of the Rental Subsidy as described above, Owner hereby
agrees to the following:
i. Owner shall use good faith commercially reasonable efforts to obtain
alternative sources of rental subsidies and shall provide the City with quarterly progress reports on
efforts to obtain alternative sources of rental subsidies that would allow the rents to be reduced.
Upon receipt of any alternative rental subsidies, Owner shall reduce the rents as much as possible
with the goal of reverting the rents to their original levels as set forth herein to the extent that the
alternative rental subsidies provide sufficient income to cover the Minimum Liabilities of the PSH
Project as shown on the Operating Budget and to maintain a Debt Service Coverage Ratio of 1:15
to 1.00;
ii. Owner shall provide tenants in the Qualifying Units with at least sixty (60)
days' written notice of any rent increase and shall notify each tenant that if they have received a
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tenant -based voucher from the Orange County Housing Authority or any other governmental entity
they may use such voucher to pay the rent for their Qualifying Unit;
iii. All rent increases are subject to City approval pursuant to the terms herein.
No later than sixty (60) days prior to the proposed implementation of any rent increase, Owner
shall submit to the City a schedule of any proposed increase in the rent. The City will disapprove
a rent increase if it does not comply with the restrictions set forth herein. Notwithstanding the
foregoing, rent increases for the Qualifying Units shall be subject to review and approval of the
City (such approval not to be unreasonably withheld or delayed) as described above; and
iv. Owner shall give tenants of all Qualifying Units written notice at least sixty
(60) days prior to any rent increase.
With respect to any Qualifying Units for which City has authorized Owner to increase rents
pursuant to this Section, all special and/or target population preferences and requirements shall
automatically terminate.
7. Affordable Rent. The monthly rent charged to a Qualifying Household for the occupancy
of a Qualifying Unit shall never exceed an Affordable Rent for such Qualifying Unit set forth in
Section 1.5.
7.1 Rent for Qualifying Units may be increased only once per calendar year, based on
changes in Area Median Income; provided that the rent for each Qualifying Unit must never exceed
an Affordable Rent for the Qualifying Unit as necessary to maintain the tenant income mix
specified in Section 6.
7.2 Determination of Qualifying Household income shall be made by the Owner at the
time of initial application by an individual or family for occupancy of a Qualifying Unit. At the
time of initial application, the Owner shall require an applicant to complete the Income
Certification Form and certify the accuracy of the information provided on such form. In each
calendar year during the Term, the Owner shall require each Qualifying Household occupying a
Qualifying Unit to recertify the Qualifying Household's income on the Income Certification Form.
The Owner shall make a good faith effort to verify the accuracy of income information provided
in any Income Certification Form by an applicant for occupancy of a Qualifying Unit or by a
Qualifying Household occupying a Qualifying Unit, by taking one or more of the following steps,
as reasonably required or indicated: (1) obtain an income tax return and copy of each W2 Wage
and Earnings Statement for the most recently concluded income tax year; (2) conduct a credit
reporting agency or similar search; (3) obtain an income verification form from the applicant's or
the Qualifying Household's current employer(s); (4) obtain an income verification form from the
United States Social Security Administration and/or the California Department of Social Services,
if the applicant or the Qualifying Household receives assistance from either of such agencies; or
(5) if the applicant or an adult member of a Qualifying Household is unemployed and has no such
income tax return, obtain another form of independent verification. For purposes of this Section
7.2, the Owner may conclusively rely upon the evidence of the age of the occupant(s) of a
Qualifying Unit as presented in a valid California Driver's License, other form of identification
issued by the State of California or the United States Government, which includes a date of birth.
All such verification information shall only be obtained by the Owner after obtaining the
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applicant's or the Qualifying Household's written consent for the release of such information to
the Owner. Failure to consent in writing to the release of such income verification information to
the Owner may disqualify an applicant for occupancy of a Qualifying Unit or be grounds for
termination of Qualifying Household's occupancy of a Qualifying Unit.
7.3 The Qualifying Units are not specifically assigned to any qualifying income
category (i.e., 30% Household, or 50% Household). The restricted income level of each Qualifying
Unit may change as Qualifying Units become vacant, a Qualifying Household tenant's income
changes or other Qualifying Units are occupied by Qualifying Households. In all circumstances,
though, the rent for each Qualifying Unit shall be an Affordable Rent for the Qualifying Unit as
necessary to maintain the restricted income tenant mix required under Section 6. If, upon any
recertification, the income of a previously Qualifying Household exceeds one hundred forty
percent (140%) of the qualifying income for a 30% Household or 50% Household, then subject to
applicable law, including without limitation, TCAC regulations and policies, the Owner or
Management Agent shall notify such household that its lease for its Qualifying Unit will not be
renewed upon the expiration of its lease, unless the household again becomes a Qualifying
Household upon recertification prior to the expiration of its lease. In any event, if the income
category of a Qualifying Household upon recertification is different from the previous income of
the Qualifying Household (i.e. a 30% Household becomes a 50% Household; a 50% Household
becomes a 30% Household; or any similar change in the income of a Qualifying Household tenant
of the PSH Project), the Owner or Management Agent shall rent the next available unit to a
Qualifying Household with an income level that will maintain the tenant income level mix set forth
in Section 6. To the extent the federal low-income housing tax credit requirements conflict with
the requirements in this Section 7.3 relative to the continued occupancy by households that do not
qualify as Qualifying Households, the federal low-income housing tax credit requirements shall
apply in place of the provisions in this Section 7.3.
7.4 The Owner shall maintain on file all Income Certification Forms completed by
applicants for occupancy of Qualifying Units and by Qualifying Households that occupied or are
occupying Qualifying Units in accordance with Section 6 and shall provide copies of the rent roll
and Income Certification Forms to the City for its review and approval within fifteen (15) days
following written Notice to the Owner.
7.5 The Owner and each Qualifying Household occupying a Qualifying Unit shall
permit the City to conduct inspections of the PSH Property, the PSH Project and each Qualifying
Unit, from time -to -time, for purposes of verifying compliance with this Regulatory Agreement,
upon fifteen (15) days prior written notice to the Owner.
7.6 The Owner shall submit its first Annual Report to the City on the April 30th
immediately following the issuance of the final Certificate of Occupancy for the PSH Project by
the City. Thereafter, on each April 30 during the Tenn, the Owner shall submit an Annual Report
to the City. The City shall maintain the confidentiality of the information contained in any Annual
Report specifically relating to any particular Qualifying Household occupying a Qualifying Unit,
to the extent reasonably allowed by Law, as determined by the City's general or special counsel.
8. The Owner Covenant Reeardine Lease of Oualifvine Units. The Owner, for itself, its
successors and assigns, covenants and agrees that, if any Qualifying Unit is rented or leased
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during the Term, the rental or lease of the Qualifying Unit shall be accomplished through a
written lease agreement and all of the following restrictions shall apply:
8.1 A Qualifying Household shall be the record tenant and only occupant of the
Qualifying Unit.
8.2 The lease for each Qualifying Unit shall be for an initial term of not less than twelve
(12) months.
8.3 Each lease for a Qualifying Unit shall contain all of the following provisions:
8.3.1 An agreement authorizing the Owner to immediately terminate the tenancy
of a Qualifying Household occupying a Qualifying Unit, where one or more members of that
Qualifying Household misrepresented any fact material to the qualification of such household as
a Qualifying Household;
8.3.2 An agreement providing that each Qualifying Household occupying a
Qualifying Unit shall be subject to annual certification or recertification of income as a condition
to continued occupancy of the Qualifying Unit;
8.3.3 An agreement providing that each Qualifying Household occupying a
Qualifying Unit may be subject to rental increases in accordance with this Regulatory Agreement;
and
8.3.4 An agreement providing that the Owner will not discriminate on the basis
of race, color, creed, religion, sex, gender, gender identity, gender expression, sexual orientation,
marital status, national origin, ancestry, familial status (except as may legally be permitted for
Senior Households), source of income, disability, genetic information or receipt of public
assistance or housing assistance in connection with rental of a Qualifying Unit, or in connection
with the employment or application for employment of persons for operation and management of
the PSH Project, and all contracts, applications and leases entered into for such purposes shall
contain similar non-discrimination clauses to such effect.
8.4 The Owner shall not terminate the tenancy or refuse to renew the lease or rental
agreement of a Qualifying Household except for: (i) serious or repeated violations of the terms and
conditions of the lease; (ii) because the previously Qualifying Household is no longer a Qualifying
Household; (iii) for violation of applicable Federal, State, or local law; or (iv) for other good cause.
The Owner shall follow all applicable laws in connection with termination of the tenancy of a
Qualifying Household or a refusal to renew the lease or rental agreement of a Qualifying
Household.
8.5 Tenant Selection Policies and Criteria. The Owner shall adopt written tenant
selection policies and criteria that:
8.5.1 are consistent with the purpose of providing affordable rental housing for
Qualifying Households at an Affordable Rent;
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8.5.2 are reasonably related to tenant eligibility and ability to perform the
obligations of the lease for a Qualifying Unit;
8.5.3 subject to applicable fair housing laws, with respect to the nine (9)
Qualifying Units required to be occupied or available for occupancy by Qualifying Households
that are 50% Households, give reasonable preference and consideration to the housing needs of
households residing in the City of San Juan Capistrano that are involuntarily displaced by natural
disaster, or by activities of the City, including but not limited to priority placement on a written
waiting list of available units;
8.5.4 subject to applicable fair housing laws, best efforts will be made to give
preference to veterans for ten (10) of the Qualifying Units required to be occupied or available for
occupancy by Qualifying Households that are 30% Households;
8.5.5 subject to applicable fair housing laws, with respect to the nine (9)
Qualifying Units required to be occupied or available for occupancy by Qualifying Households
that are 50% Households, give reasonable preference and consideration to the housing needs of
households residing or employed in the City of San Juan Capistrano, including but not limited to
priority placement on a written waiting list of available units;
8.5.6 provide for the selection of tenants from a written waiting list in the
chronological order of their application subject to Sections 8.5.3, 8.5.4, and 8.5.5 insofar as is
practicable;
8.5.7 give prompt written notice to any rejected applicant of the grounds for
rejection;
8.5.8 provide for all of the Qualifying Units to be available for occupancy on a
continuous basis to Qualifying Households at an Affordable Rent; and
8.5.9 do not give preference to any particular class or group of persons in leasing
or renting the Qualifying Units, except as provided in Sections 8.5.3, 8.5.4, and 8.5.5 and to the
extent that a tenant must be a Qualifying Household.
9. Non -Discrimination. All units in the PSH Project shall be available at an Affordable Rent
for occupancy on a continuous basis to Qualified Households. Except as provided in Sections
8.5.3, 8.5.4, and 8.5.5, the Owner shall not give preference to any particular class or group of
persons in renting the units in the PSH Project. There shall be no discrimination against or
segregation of any person or group of persons, on account of race, color, creed, religion, sex,
gender, gender identity, gender expression, sexual orientation, marital status, national origin,
ancestry, familial status, source of income, disability, or genetic information in the leasing,
subleasing, transferring, use, occupancy, tenure, or enjoyment of any unit. Neither the Owner nor
any person claiming under or through the Owner, shall establish or permit any such practice or
practices of discrimination or segregation with reference to the selection, location, number, use,
or occupancy, of tenants, lessees, sublessees, subtenants, or vendees of any unit or in connection
with, the employment of persons for the operation and management of any unit, the PSH Project
or the PSH Property. All deeds, leases or contracts made or entered into by the Owner as to the
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units, the PSH Project or the PSH Property or any portion thereof, shall contain covenants
prohibiting discrimination, as prescribed by this Regulatory Agreement. The Owner shall include
a statement in all advertisements, notices and signs for the availability of units in the PSH Project
for rent to the effect that the Owner is an Equal Housing Opportunity Provider.
10. Equal HousingNotice. Provide for a statement in all advertisements, notices and signs for
the availability of Qualifying Units for lease or rent to the effect that the Owner is an equal
housing opportunity provider, and include an equal housing opportunity logotype in all notices,
signs and advertisements in print media for the Qualifying Units.
11. Development and Management of the PSH Project.
11.1 Management of PSH Project. The Owner shall be responsible for management of
the PSH Project including, without limitation, the selection of Qualified Households, certification
and recertification of household size, income, gender and the age of the head of household and
relation of head of household to the household, of all Qualified Households, evictions, collection
of rents and deposits, maintenance, landscaping, routine and extraordinary repairs, replacement of
capital items, and security. The City shall have bear no responsibility for the management or
operation of the PSH Project or the PSH Property. The PSH Project shall at all times be managed
by a Management Agent reasonably acceptable to the City, with demonstrated ability to operate
residential rental facilities similar to the PSH Project in a manner that will provide decent, safe,
and sanitary housing. For the purposes hereof, if the Owner directly performs the functions of the
Management Agent by its employees or by means of a service contract with an entity which is a
partner or an affiliate of a partner in the Owner, such Management Agent shall be deemed approved
by the City. If the Management Agent is an entity or person other than the Owner, its employees,
a partner in the Owner or an entity owned or controlled by the Owner or which owns and/or
controls the Owner, the Owner shall submit for the City's approval the identity of any proposed
Management Agent, together with additional information relevant to the background, experience
and financial condition of any proposed Management Agent, as reasonably requested by the City.
If the proposed Management Agent meets the standard for a qualified Management Agent set forth
above, the City shall approve the proposed Management Agent by notifying the Owner in writing
within thirty (30) days following the Owner's written request for such approval. Unless the
proposed Management Agent is disapproved by the City within thirty (3 0) days, which disapproval
shall state with reasonable specificity the basis for disapproval, it shall be deemed approved. The
City hereby approves Jamboree Housing Corporation, as the initial property manager.
11.1.1 If the Owner directly performs the functions of the Management Agent by
its employees or by means of a service contract with an entity which is a partner or an affiliate of
a partner in the Owner and the City determines the Owner has not met its management
responsibilities, the City shall have the right to enter the PSH Project, to review relevant
documentation to determine if the Owner is acting in a reasonable manner and, subject to the
approval of the investor limited partner and special limited partner (collectively, the "Tax Credit
Investor") of Owner and lender, to require the Owner to hire a third party management company
reasonably acceptable to the City.
11.2 Insurance.
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11.2.1 Required Insurance. The Owner shall maintain, to protect the City Parties
against all insurable claims resulting from the actions of the Owner in connection with this
Regulatory Agreement, the PSH Property and the PSH Project, at the sole cost and expense of the
Owner during the Term hereof the following insurance (or its then reasonably available
equivalent): (a) Liability Insurance; (b) Automobile Liability Insurance to the extent required by
this Regulatory Agreement; (c) Property Insurance; and (d) Workers Compensation Insurance. The
Owner shall require all subcontractors to maintain the same insurance required of the Owner set
forth in this Section 11.2 prior to performing any work on the PSH Property or the PSH Project.
Notwithstanding the foregoing, however, Owner's obligation to procure Property Insurance shall
not commence until such time as the Certificate of Completion has been recorded.
11.2.2 Policy Requirements and Endorsements. All insurance policies required by
this Regulatory Agreement shall contain (by endorsement or otherwise) the following provisions:
Insured. The Owner's Liability Insurance and Automobile Liability Insurance
policies shall name the City Parties as "additional insured." The Owner's Property Insurance
policy shall name the City as a "loss payee." The coverage afforded to the City Parties shall be at
least as broad as that afforded to the Owner regarding the PSH Property and the PSH Project and
may not contain any terms, conditions, exclusions, or limitations applicable to the City Parties that
do not apply to the Owner.
Primary Coverage. Any insurance or self-insurance maintained by the City Parties
shall be in excess of all insurance required under this Regulatory Agreement and shall not
contribute to any insurance required under this Regulatory Agreement.
Contractual Liability. The Owner's Liability Insurance policy shall contain
contractual liability coverage for the Owner's indemnity obligations under this Regulatory
Agreement. The Owner's obtaining or failure to obtain such contractual liability coverage shall
not relieve the Owner from nor satisfy any indemnity obligation of the Owner under this
Regulatory Agreement.
Deliveries to the City. The Owner shall deliver to the City evidence of all insurance
policies required by this Regulatory Agreement. No later than three (3) days before any insurance
required by this Regulatory Agreement expires, is cancelled or its liability limits are reduced or
exhausted, the Owner shall deliver to the City evidence of the Owner's maintenance of all
insurance this Regulatory Agreement requires. Each insurance policy required by this Regulatory
Agreement shall be endorsed to state that coverage shall not be cancelled, suspended, voided,
reduced in coverage or in limits, except after thirty (30) calendar days' advance written notice of
such action has been given to the City by certified mail, return receipt requested; provided that if
a thirty (30) days' notice of cancellation endorsement is not available the Owner shall notify the
City of this unavailability in writing and shall forward any notice of cancellation to the City within
two (2) business days from date of receipt by the Owner; and further provided, however, that only
ten (10) days' advance written notice shall be required for any such action arising from non-
payment of the premium for the insurance. Phrases such as "endeavor to" and "but failure to mail
such Notice shall impose no obligation or liability of any kind upon the company" shall not be
included, to the extent commercially available, in the cancellation wording of any certificates or
policies of insurance applicable to the City Parties pursuant to this Regulatory Agreement.
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Waiver of Certain Claims. The Owner shall cause each insurance carrier providing
insurance coverage under this Regulatory Agreement to endorse their applicable policy(ies) with
a Waiver of Subrogation with respect to the City Parties, if not already in the policy. To the extent
that the Owner obtains insurance with a Waiver of Subrogation, the parties release each other, and
their respective authorized representatives, from any claims for damage to any person or property
to the extent such claims are paid by such insurance policies obtained pursuant to and in
satisfaction of the provisions of this Regulatory Agreement..
No Claims Made Coverage. None of the insurance coverage required under this
Regulatory Agreement may be written on a claims -made basis.
11.2.3 Fully Paid and Non -Assessable. All insurance obtained and maintained by
the Owner pursuant to this Section 11.2 shall be fully paid for and non -assessable. However, such
insurance policies may be subject to insurer audits.
11.2.4 City Option to Obtain Coverage. During the continuance of an Event of
Default arising from the failure of the Owner to carry any insurance required by this Regulatory
Agreement, the City may, at its option, purchase any such required insurance coverage and the
City shall be entitled to immediate payment from the Owner of any premiums and associated
reasonable costs paid by the City for such insurance coverage. Any amount becoming due and
payable to the City under this Section 11.2.4 that is not paid within fifteen (15) calendar days after
written demand from the City for payment of such amount, within an explanation of the amounts
demanded, will bear interest from the date of the demand at the rate of eight percent (8%) per
annum or the maximum interest rate allowed by applicable law, whichever is less. Any election
by the City to purchase or not to purchase insurance otherwise required by the terms of this
Regulatory Agreement to be carried by the Owner shall not relieve the Owner of its obligation to
obtain and maintain any insurance coverage required by this Regulatory Agreement.
11.2.5 Separation of Insured. The Owner's Liability Insurance and Automobile
Liability Insurance policies shall provide for separation of insured for the Owner and the City
Parties. Insurance policies obtained in satisfaction of or in accordance with the requirements of
this Regulatory Agreement may provide a cross -suits exclusion for suits between named insureds,
but shall not exclude suits between named insureds and additional insureds.
11.2.6 Deductibles and Self -Insured Retentions. Any deductibles or self-insured
retentions under insurance policies required by this Regulatory Agreement shall be declared to and
approved by the City. The Owner shall pay all such deductibles or self-insured retentions regarding
the City Parties or, alternatively, the insurer under each insurance policy required by this Section
11.2 shall eliminate such deductibles or self-insured retentions with respect to the City Parties.
11.2.7 No Separate Insurance. The Owner shall not carry separate or additional
insurance concurrent in form or contributing in the event of loss with that required under this
Regulatory Agreement, unless the City is made an additional insured thereon, as required by this
Regulatory Agreement.
11.2.8 Insurance Independent of Indemnification. The insurance requirements of
this Regulatory Agreement are independent of the Owner indemnification and other obligations
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under this Regulatory Agreement and shall not be construed or interpreted in any way to satisfy,
restrict, limit, or modify the Owner's indemnification or other obligations or to limit the Owner's
liability under this Regulatory Agreement, whether within, outside, or in excess of such coverage,
and regardless of solvency or insolvency of the insurer that issues the coverage; nor shall the
provision of such insurance preclude the City from taking such other actions as are available to it
under any other provision of this Regulatory Agreement or otherwise at law or in equity.
11.2.9 Nature of Insurance. The policies of insurance required by this Regulatory
Agreement shall be issued by carriers that: (a) are listed in then current "Best's Key Rating
Guide—Property/Casualty—United States & Canada" publication (or its equivalent, if such
publication ceases to be published) with a minimum financial strength rating of "A-" and a
minimum financial size category of "XI" (exception may be made for the California Compensation
Insurance Fund when not specifically rated); and (b) are authorized to do business in California.
The Owner may provide any insurance under a "blanket" or "umbrella" insurance policy, provided
that: (i) such policy or a certificate of such policy shall specify the amount(s) of the total insurance
allocated to the PSH Property and the PSH Project, which amount(s) shall equal or exceed the
amount(s) required by this Regulatory Agreement; and (ii) such policy otherwise complies with
this Regulatory Agreement.
12. Maintenance of the PSH Project. The Owner, for itself, its successors and assigns, hereby
covenants and agrees that the exterior areas of the PSH Project shall be maintained in good repair
and in a neat, clean and orderly condition, ordinary wear and tear excepted. In the event that at
any time during the Term, there is an occurrence of an adverse condition on any area of the PSH
Project which is subject to public view in contravention of the general maintenance standard
described above ("Maintenance Deficiency"), then the City shall notify the Owner in writing of
the Maintenance Deficiency and give the Owner thirty (30) calendar days from the date of such
notice to cure the Maintenance Deficiency as identified in the notice. "Maintenance Deficiency"
includes, without limitation, the following inadequate or non -conforming property maintenance
conditions and/or breaches of residential property use restrictions: (i) failure to properly maintain
the windows, structural elements, and painted exterior surface areas of the units in a clean and
presentable manner; (ii) failure to keep the common areas of the PSH Project free of
accumulated debris, appliances, inoperable motor vehicles or motor vehicle parts, or free of
storage of lumber, building materials or equipment not regularly in use on the PSH Property; (iii)
failure to regularly maintain, replace and renew the landscaping in a reasonable condition free of
weed and debris; and (iv) the use of garage areas on the PSH Project for purposes other than the
parking of motor vehicles and the storage of personal possessions and mechanical equipment of
persons residing in the PSH Project.
12.1 In the event the Owner fails to cure or commence to cure the Maintenance
Deficiency within the time allowed, the City may thereafter conduct a public hearing following
transmittal of written notice thereof to the Owner ten (10) calendar days prior to the scheduled date
of such public hearing in order to verify whether a Maintenance Deficiency exists and whether the
Owner has failed to comply with the provision of this Section 12. If, upon the conclusion of a
public hearing, the City makes a finding that a Maintenance Deficiency exists and that there
appears to be non-compliance with the general maintenance standard, as described above, then the
City shall have the right to enter the PSH Project (exterior areas of the PSH Project which are
subject to public view only) and perform all acts necessary to cure the Maintenance Deficiency, or
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to take other action at law or equity that the City may then have to accomplish the abatement of
the Maintenance Deficiency. Any sum expended by the City for the abatement of a Maintenance
Deficiency as authorized by this Section 12.1 shall become a lien on the PSH Property. If the
amount of the lien is not paid within thirty (30) calendar days after written demand for payment
by the City to the Owner, the City shall have the right to enforce the lien in the manner as provided
in Section 12.3.
12.2 Graffiti which is on or within the PSH Project shall be removed by the Owner from
any exterior surface of a structure or improvement on the PSH Project by either painting over the
evidence of such vandalism with a paint which has been color -matched to the surface on which
the paint is applied, or graffiti may be removed with solvents, detergents or water as appropriate.
In the event that graffiti is placed on the PSH Project (exterior areas only) and such graffiti is
visible from an adjacent or contiguous public right-of-way and thereafter such graffiti is not
removed within three (3) business days following the time of its application, or the Owner's actual
knowledge of its existence, whichever occurs later; then in such event and without notice to the
Owner, the City shall have the right to enter the PSH Project and remove the graffiti.
Notwithstanding any provision of the Regulatory Agreement to the contrary, any sum expended
by the City for the removal of graffiti from the PSH Project as authorized by this Section 12.2 shall
become a lien on the PSH Project. If the amount of the lien is not paid within thirty (30) calendar
days after written demand for payment by the City to the Owner, the City shall have the right to
enforce its lien in the manner as provided in Section 12.3.
12.3 The parties hereto further mutually understand and agree that the rights conferred
upon the City under this Section 12 expressly include the power to establish and enforce a lien or
other encumbrance against the PSH Property in the manner provided under California Civil Code
Sections 2924, 2924b and 2924c, as such sections may be amended or superseded, in the amount
as reasonably necessary to restore the PSH Project to the maintenance standards required under
this Section 12, including reasonable attorneys' fees and costs of the City associated with the
abatement of the Maintenance Deficiency or removal of graffiti and the collection of the costs of
the City in connection with such action. In any legal proceeding for enforcing such a lien against
the PSH Project, the prevailing party shall be entitled to recover its reasonable attorneys' fees and
costs of suit. The provisions of this Section 12 shall be a covenant running with the land for the
Term and shall be enforceable by the City in its discretion, cumulative with any other rights or
powers granted to the City under applicable law. Nothing in the foregoing provisions of this
Section 12 shall be deemed to preclude the Owner from making any alterations, additions, or other
changes to any structure or improvement or landscaping on the PSH Project, provided that such
changes comply with the zoning and development regulations of the City and other applicable law.
Notwithstanding anything to the contrary in this Section 12, City acknowledges and agrees that
the priority of any such lien shall be deemed to be the date such lien is filed, and not the date this
Regulatory Agreement is recorded.
12.4 Capital Replacement Reserve Account. The Owner shall establish an account for
the payment of repair and replacement of capital items ("Capital Replacement Reserve
Account") in an initial amount as required by the Institutional Lenders for the PSH Project or the
Tax Credit Investor. Each year thereafter, the Owner shall deposit into the Capital Replacement
Reserve Account additional amounts as required by the Institutional Lenders for the PSH Project
or the Tax Credit Investor, but not less than Two Hundred Fifty Dollars ($250) per unit per year.
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12.4.1 Capital Repairs and Replacements. Capital repairs and replacements shall
include, but not be limited to, the following: wet and dry utilities; roof repair and replacement as
necessary; repair and replacement of boilers and the major operating components thereof, stucco
repair and replacement; exterior painting; replacement of carpeting and vinyl or other hard surface
flooring; replacement of drapes; replacement of dishwashers, garbage disposals and other interior
appliances; repair and replacement of heating, ventilating and air conditioning systems, equipment
and components; and installation of solar panels. All of the foregoing and other similar
expenditures on the PSH Project shall be considered to be qualifying capital repair and replacement
expenses. Interior painting and servicing, repair or replacement of interior hardware shall not be
considered to be a capital repair, but shall be ordinary operating expenses for the PSH Project. The
Owner shall withdraw funds from the Capital Replacement Reserve Account to pay such capital
repair and replacement expenses as the Owner may deem necessary for the -purposes of meeting
the maintenance and replacement obligations described herein.
12.4.2 Insured Depository. The Capital Replacement Reserve Account shall be
maintained in a depository insured by an agency of the federal government.
12.4.3 Documentation. Annually, or more frequently at the City's reasonable
written request, the Owner shall document the level of capital repairs and replacements for the
preceding period. The Owner shall maintain and shall provide as requested documentation
showing the quantity and price of items purchased, price of materials and the cost of contracted
labor or other services incurred in connection with such capital repair and replacement, and such
other items as the City may reasonably request.
12.4.4 Withdrawals from Reserve Account. On an annual basis, the Owner shall
notify the City of the anticipated cash requirements which will need to be withdrawn from the
Capital Replacement Reserve Account. Amounts so budgeted and approved by the City (such
approval not to be unreasonably withheld, conditioned, or delayed) may be withdrawn by the
Owner from the indicated Capital Replacement Reserve Account without further City approval.
Other withdrawals for unbudgeted, unanticipated or emergency PSH Project expenditures may be
withdrawn by the Owner without prior City approval, but the Owner shall notify the City in writing
within ten (10) calendar days after withdrawal. All amounts so withdrawn by the Owner shall be
expended on the PSH Project and in accordance with this Regulatory Agreement. Withdrawals in
excess of Twenty -Five Thousand Dollars ($25,000) in any one calendar year shall be pre -approved
by the City in its reasonable discretion, subject to the rights of any lender of a Senior Loan or the
Tax Credit Investor.
12.4.5 Interest Earned on Funds in the Capital Replacement Reserve Account. Any
interest or other earnings from sums deposited into the Capital Replacement Reserve Account shall
be retained in and added to the balance in said account.
12.4.6 Capital Needs Assessment. If requested in writing by the City, the Owner
shall deliver to the City, for the City's reasonable review and approval, a capital needs assessment
("CNA") no more often than every ten (10) years after the date of the Certificate of Completion
for the PSH Project. The CNA shall include an analysis of the Owner's actual expenditures for
capital needs compared to the most recently approved CNA, the Owner's original operating budget
and its then -current operating budget. Each CNA shall include a ten (10) year capital needs
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assessment or analysis of replacement reserve requirements prepared by a qualified third party in
accordance with reasonable and customary standards for similar residential rental projects.
12.4.7 Displacement of Residents and Relocation. The Owner shall make
commercially reasonable best efforts to conduct capital repairs and replacements and ordinary
repair and maintenance (collectively, "Repairs") in a manner that does not result in the
displacement of any of the residents of the units. If any of the Owner's actions to conduct Repairs
result in displacement of any of the units' residents, the Owner shall notify the City in writing,
prior to conducting such Repairs, of the identities of the residents to be displaced, the units they
will be displaced from, and the estimated length of time such residents shall be displaced. If the
displacement of the residents triggers relocation obligations, the Owner shall be responsible, at its
sole cost and expense, for any and all such relocation obligations and related expenses. The Owner
shall comply with all applicable federal, state and local laws, rules and regulations regarding such
relocation obligations and related expenses, including any relocation requirements set forth by the
City. The Owner shall defend, indemnify and hold harmless the City Parties from and against all
liability for any relocation obligations and related expenses attributable to any Repairs.
13. Covenants to Run With the Land. The Owner and the City hereby declare their specific
intent that the covenants, reservations and restrictions set forth herein are part of a plan for the
promotion and preservation of affordable housing within the territorial jurisdiction(s) of the City
and that each shall be deemed covenants running with the land and shall pass to and be binding
upon the PSH Property and each successor -in -interest of the Owner in the PSH Property for the
Term. The Owner hereby expressly assumes the duty and obligation to perform each of the
covenants and to honor each of the reservations and restrictions set forth in this Regulatory
Agreement. Each and every contract, deed or other instrument hereafter executed covering or
conveying the PSH Property or any interest therein shall conclusively be held to have been
executed, delivered and accepted subject to such covenants, reservations, and restrictions,
regardless of whether such covenants, reservations and restrictions are set forth in such contract,
deed or other instrument.
14. Burden and Benefit. The City and the Owner hereby declare their understanding and
intent that the burden of the covenants set forth herein touch and concern the land in that the
Owner's legal interest in the PSH Property is affected by the affordable dwelling use and
occupancy covenants hereunder. The City and the Owner hereby further declare their
understanding and intent that the benefit of such covenants touch and concern the land by
enhancing and increasing the enjoyment and use of the PSH Property by the intended
beneficiaries of such covenants, reservations and restrictions, and by furthering, the affordable
housing goals and objectives of the City and in order to make the PSH Property available for
acquisition by the Owner.
15. Defaults.
15.1 Events of Default. The occurrence of any of the following is a default and shall
constitute a material breach of this Regulatory Agreement and, if not corrected, cured or remedied
in the time period set forth in Section 15.2, shall constitute an "Event of Default" hereunder:
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15.1.1 failure of the Owner or any person under its direction or control to comply
with or perform when due any material term, obligation, covenant or condition contained in this
Regulatory Agreement;
15.1.2 any warranty, representation or statement made or furnished to the City by
the Owner under this Regulatory Agreement is knowingly false or misleading in any material
respect either now or at the time made or furnished;
15.1.3 the dissolution or termination of the existence of the Owner as an ongoing
business, insolvency, appointment of a receiver for any part of the PSH Property, any assignment
for the benefit of creditors, any type of creditor workout or the commencement of any proceeding
under any bankruptcy or insolvency laws by or against the Owner; or
15.1.4 an Event of Default pursuant to the Affordable Housing Agreement.
15.2 Notice of Default. The City shall give written notice of default to the Owner, in
accordance with Section 22, stating that such notice is a "Notice of Default", specifying the default
complained of by the City and requiring the default to be remedied within thirty (30) calendar days
of the date of the Notice of Default. Except as required to protect against further material damage,
the City may not institute legal proceedings against the Owner until thirty (30) calendar days after
providing the Notice of Default. Failure or delay in giving a' Notice of Default shall not constitute
a waiver of any default, nor shall it change the time of occurrence of the default. If the default
specified in the Notice of Default is such that it is not reasonably capable of being cured within
thirty (30) calendar days, and if the Owner initiates corrective action within said thirty (30)
calendar day period and diligently works to effect a cure as soon as possible, then the Owner may
have such additional time as authorized in writing by the City as reasonably necessary to complete
the cure of the default prior to exercise of any other remedy for the occurrence of an Event of
Default. Such authorization for additional time to cure shall not be unreasonably withheld,
conditioned or delayed. The City shall give the Tax Credit Investor the following notice and cure
rights:
15.2.1 The City will give the Tax Credit Investor a copy of any Notice that the City
gives to the Owner under this Regulatory Agreement;
15.2.2 The City will give the Tax Credit Investor thirty (30) days after the Tax
Credit Investor's receipt of such Notice to cure a non-payment of any sum due under this
Regulatory Agreement;
15.2.3 The City will give the Tax Credit Investor sixty (60) days after the Tax
Credit Investor's receipt of such Notice to cure any other default under this Regulatory Agreement;
15.2.4 If a non -monetary default is incapable of being cured within sixty (60) days,
the City will give the Tax Credit Investor an additional ninety (90) days to cure such default
provided the Tax Credit Investor has commenced to cure such default and is diligently proceeding
to cure such default through the end of such period; and
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15.2.5 If the Tax Credit Investor makes any such payment or otherwise cures such
default, the City will accept such action as curing such default as if such payment or cure were
made by the Owner.
If the Owner fails to take corrective action relating to a default within thirty (30) calendar days
following the date of Notice of Default (or to complete the cure within the additional time as
may be authorized by the City or set forth above for the Tax Credit Investor), an Event of
Default shall be deemed to have occurred.
15.3 Inaction Not a Waiver of Default. Any failure or delays by the City in asserting any
of its rights and remedies as to any default shall not operate as a waiver of any default or of any
such rights or remedies. Delays by the City in asserting any of its rights and remedies shall not
deprive the City of its right to institute and maintain any actions or proceedings which it may
reasonably deem necessary to protect, assert or enforce any such rights or remedies.
16. Remedies. Upon the occurrence of an Event of Default, the City shall, in addition to the
remedial provisions of Section 12 as related to a Maintenance Deficiency at the PSH Property, be
entitled to seek any appropriate remedy or damages by initiating legal proceedings as follows: (i)
by mandamus or other suit, action or proceeding at law or in equity, to require the Owner to
perform its obligations and covenants hereunder, or enjoin any acts or things which may be
unlawful or in violation of the rights of the City; or (ii) by other action at law or in equity as
necessary or convenient to enforce the obligations, covenants and Agreements of the Owner to
the City.
16.1 Riehts and Remedies are Cumulative. The rights and remedies of the City as set
forth in this Section 16 are cumulative and the exercise by the City of one or more of such rights
or remedies shall not preclude the exercise by it, at the same or different times, of any other rights
or remedies for the same default or any other default by the Owner.
16.2 Enforcement by Third Parties. No third party shall have any right or power to
enforce any provision of this Regulatory Agreement on behalf of the City or to compel the City to
enforce any provision of this Regulatory Agreement against the Owner or the PSH Project.
17. Governing Law. This Regulatory Agreement shall be governed by the laws of the State of
California and applicable federal laws, without regard to conflicts of laws principles.
18. Amendment. This Regulatory Agreement may be amended after its recordation only by a
written instrument executed by the Owner and the City.
19. Attorney's Fees. In the event that a party to this Regulatory Agreement brings an action
to enforce any condition or covenant, representation or warranty in this Regulatory Agreement or
otherwise arising out of this Regulatory Agreement, the prevailing party(ies) in such action shall
be entitled to recover from the other party reasonable attorneys' fees to be fixed by the court in
which a judgment is entered, as well as the costs of such suit.
20. Severability. If any provision of this Regulatory Agreement shall be declared invalid,
inoperative or unenforceable by a final judgment or decree of a court of competent jurisdiction
such invalidity or unenforceability of such provision shall not affect the remaining parts of this
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Regulatory Agreement which are hereby declared by the parties to be severable from any other
part which is found by a court to be invalid or unenforceable.
21. Time is of the Essence. For each provision of this Regulatory Agreement which states a
specific amount of time within which the requirements thereof are to be satisfied, time shall be
deemed to be of the essence.
22. Notices, Demands and Communications Between the Parties. Any and all notices
submitted by any party to another party pursuant to or as required by this Regulatory Agreement
shall be dispatched by messenger for immediate personal delivery, or by registered or certified
United States mail, postage prepaid, return receipt requested, to the address of the party, as set
forth in this Section. Such notice may be sent in the same manner to such other addresses as any
party may from time to time designate by notice. Any notice shall be deemed to be received by
the addressee, regardless of whether or when any return receipt is received by the sender or the
date set forth on such return receipt, on the day that it is dispatched by messenger for immediate
personal delivery, or two (2) calendar days after it is placed in the United States mail, as
provided in this Section. Rejection, other refusal to accept or the inability to deliver any notice
because of a changed address of which no notice was given or other action by a person or entity
to whom notice is sent, shall be deemed receipt of the notice.
The following are the authorized addresses for the submission of notices to the parties, as of the
date of this Regulatory Agreement:
To the Owner: Prior to completion of construction:
Paseo Adelanto Housing Partners, LP
c/o Jamboree Housing Corporation
17701 Cowan Avenue, Suite 200
Irvine, CA 92614
Attention: Chief Development Officer
Following completion of construction:
Paseo Adelanto Housing Partners, LP
c/o Jamboree Housing Corporation
17701 Cowan Avenue, Suite 200
Irvine, CA 92614
Attention: Asset Management
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With a copy to:
Tax Credit Investor: Bank of America, N.A.
MAI -225-02-02
225 Franklin Street
Boston, MA 02110
Attention: Asset Management
Facsimile: 617-346-2257
And: Banc,_ of America CDC Special Holding
Company, Inc.
MAl-225-02-02
225 Franklin Street
Boston, MA 02110
Attention: Asset Management
Facsimile: 617-346-2257
And: Buchalter, a Professional Corporation
1000 Wilshire Boulevard, Suite 1500
Los Angeles, CA 90017
Attn: Michael A. Williamson, Esq.
Facsimile: (213) 630-5799
Matter No: B0965-687
To the City: City of San Juan Capistrano
32400 Paseo Adelanto
San Juan Capistrano, California 92675
Attn: City Manager
23. Recordins?. The parties hereto shall cause this Regulatory Agreement to be recorded in
the official records of the County of Orange.
24. No Third Party Beneficiary. No claim as a third -party beneficiary under this Regulatory
Agreement by any person, corporation or any other entity, shall be made or be valid against the
City or the Owner.
25. Prohibition Against Transfer.
25.1 Except as expressly provided in the Affordable Housing Agreement, the Owner
shall not, without prior written approval of the City, which may not be unreasonably withheld,
delayed or conditioned: (i) assign or attempt to assign this Regulatory Agreement or any right
herein; or (ii) make any total or partial sale, transfer, conveyance, lease, leaseback, or assignment
of the whole or any part of the PSH Property or the improvements thereon, with the exception of
leases of the residential units as permitted by this Regulatory Agreement, or permit to be placed
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on any of the PSH Property any unauthorized mortgage, trust deed, deed of trust, encumbrance or
lien.
25.2 In the absence of specific written agreement or approval by the City, and except as
expressly provided in the Affordable Housing .Agreement, no unauthorized sale, transfer,
conveyance, lease, leaseback or assignment of the PSH Property shall be deemed to relieve the
Owner or any other party from any obligations under this Regulatory Agreement.
26. City Approvals and Actions. The City Manager shall have the authority to make
approvals, issue interpretations, waive provisions, grant extensions of time, approve amendments
to this Regulatory Agreement and execute documents on behalf of the City (to the extent not
provided otherwise in this Regulatory Agreement), including, without limitation, any documents
necessary to implement any changes in the number or affordability of the Qualifying Units, as
may be required by TCAC, so long as such actions do not reduce the length of affordability of
the Qualifying Units or add to the costs incurred or to be incurred by the City as specified herein.
The City Manager reserves the right, in his or her sole and absolute discretion, to submit any
requested modification, interpretation, amendment or waiver to the City Council if the City
Manager determines or believes that such action could increase the risk, liability oncosts to the
City, or reduce the length of affordability of the PSH Project.
IN WITNESS WHEREOF, the Owner and the City have caused this Regulatory Agreement
to be signed, acknowledged and attested on their behalf by duly authorized representatives in
counterpart original copies which shall upon execution by all of the parties be deemed to be one
original document.
[Signatures on following pages]
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CITY SIGNATURE PAGE
TO
REGULATORY AGREEMENT
(City Hall — Paseo Adelanto Mixed Use Permanent Supportive Housing)
CITY:
CITY OF SAN JUAN CAPISTRANO,
a California municipal corporatiV
By:
jam' Si,pel, Cify Manager Date: / t — 22 -2Z
ATTEST:
By:
City Clerk
Maria Morris
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61147.80021440183274.4
OWNER SIGNATURE PAGE
TO
REGULATORY AGREEMENT
(City Hall — Paseo Adelanto Mixed Use Permanent Supportive Housing)
OWNER:
PASEO ADELANTO HOUSING PARTNERS LP,
a California limited partnership
By: JHC-Paseo Adelanto LLC,
a California limited liability company
its Managing General Partner
By: Jamboree Housing Corporation,
a California non-profit
public benefit corporation,
its Managing Member
By: A�
Name: Michael Massie
Title: Chief Development Officer
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61147.8002D40193274.4
ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness,. accuracy, or
validity of that document.
State of California
County of
before me, \. (, T. V—C A,6 'n
(name and title of the officer)
On I� I2Z/2022
Dersonallvaooeared V COICAVII-^ Sl'egGI
who proved to me on the basis oftatisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the
person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal. KYLE T. KeUNMIN . :
COMM. #2384920 z
Z
Notary Puhlle • Califmnla .c
Orange County..
Comm. E 'vesNoJ. 30, 2025
Signature (Seal) w
A Notary Public or other officer completing this certificate verifies only the identity of the
individual who signed the document to which this certificate is attached, and not the truthfulness,
accuracy, or validity of that document.
State of California
County of Orange
On December 8, 2022, before me, K. Holihan, Notary Public, personally appeared
Michael Massie, who proved to me on the basis of satisfactory evidence to be the person(s)
whose name(s) is/are subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s)
acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that
the foregoing paragraph is true and correct.
Notary Puhlic - California
WITNESS my h d and official seal. 07�7
orange CountyCommission N 2401297
My Comm, E4plres Apr 19, 2026
Signature (Seal)
ATTACHMENT NO. 1
TO
REGULATORY AGREEMENT
(City Hall — Paseo Adelanto Mixed Use Permanent Supportive Housing)
PSH Property Legal Description
Real property in the City of San Juan Capistrano, County of Orange, State of California,
described as follows:
PARCEL A:
THAT PORTION OF PARCEL 2 OF RECORD OF SURVEY NO. 2021-1079, AS SHOWN
ON A MAP FILED FEBRUARY 10, 2022 IN BOOK 324, PAGE 37 OF RECORDS OF
SURVEY, RECORDS OF ORANGE COUNTY, CALIFORNIA, IN THE CITY OF SAN JUAN
CAPISTRANO, COUNTY OF ORANGE, STATE OF CALIFORNIA, BEING A PORTION OF
LOT 60 OF TRACT NO. 103, AS SHOWN ON A MAP FILED IN BOOK 11, PAGES 29
THROUGH 33, INCLUSIVE, OF MISCELLANEOUS MAPS, RECORDS OF SAID
COUNTY, AS DESCRIBED IN THAT CERTAIN QUITCLAIM DEED RECORDED
NOVEMBER 15, 2002 AS INSTRUMENT NO. 2002001029026 OF OFFICIAL RECORDS OF
SAID COUNTY, MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE NORTHWEST CORNER OF SAID PARCEL 2 OF RECORD OF
SURVEY NO. 2021- 1079; THENCE NORTH 85'45'18" EAST 150.63 FEET ALONG THE
NORTHERLY LINE OF SAID PARCEL 2 TO THE TRUE POINT OF BEGINNING;
THENCE LEAVING SAID NORTHERLY LINE, SOUTH 040 IT 42" EAST 20.00 FEET;
THENCE SOUTH 020 03'18" WEST 27.30 FEET;
THENCE SOUTH 870 56'42" EAST 9.21 FEET;
THENCE SOUTH 020 03'18" WEST 66.16 FEET;
THENCE SOUTH 870 56'42" EAST 4.50 FEET;
THENCE SOUTH 020 03'18" WEST 10.67 FEET;
THENCE SOUTH 870 56'42" EAST 18.75 FEET;
THENCE SOUTH 020 03' 18" WEST 60.76 FEET;
THENCE SOUTH 870 56'42" EAST 7.18 FEET;
ATTACHMENT NO. I
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61147.80021\40183274.4
THENCE SOUTH 82° 59'05" EAST 56.27 FEET;
THENCE SOUTH 070 00'55" WEST 53.09 FEET;
THENCE SOUTH 880 14' 16" EAST 148.90 FEET TO A POINT ON THE EAST LINE OF
SAID PARCEL 2, SAID POINT BEING SOUTH 2°04'30" WEST 249.76 FEET FROM THE
NORTHEAST CORNER OF SAID PARCEL 2; THENCE NORTH 02° 04'30" EAST 249.76
FEET ALONG SAID EAST LINE TO SAID NORTHEAST CORNER OF SAID PARCEL 2;
THENCE NORTH 87056'42" WEST 169.88 FEET ALONG THE NORTH LINE OF SAID
PARCEL 2 TO AN ANGLE POINT THEREIN;
THENCE CONTINUING ALONG SAID NORTH LINE, SOUTH 85045'18" WEST 72.84
FEET TO THE TRUE POINT OF BEGINNING.
CONTAINING 1.19 ACRES, MORE OR LESS.
PARCEL B:
NON-EXCLUSIVE EASEMENT(S) FOR VEHICULAR AND PEDESTRIAN ACCESS,
INGRESS AND EGRESS AS SET FORTH IN THAT CERTAIN ACCESS AND PARKING
EASEMENT AGREEMENT RECORDED LYc.2-cr" zozz , AS INSTRUMENT NO.
OF OFFICIAL RECORDS.
-' 7_0 ZZC7001-113'%SS
ATTACHMENT NO. 1
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61147.8002 1\40183274.4
ATTACHMENT NO.2
TO
REGULATORY AGREEMENT
(Paseo Adelanto Mixed Use Permanent Supportive Housing)
Certification of Tenant Eligibility
NOTE TO PROPERTY OWNER: This form is designed to assist you in computing Annual
Income.
Re: Paseo Adelanto Mixed Use Permanent Supportive Housing I/We, the undersigned, state that
Uwe have read and answered fully, frankly and personally each of the following questions for all
persons who are to occupy the unit being applied for in the property listed above. Listed below
are the names of all persons who intend to reside in the unit:
1. 2. 3. 4. 5.
Names of Relationship Social
Members of to Head of Security Place of
Household Household Age Number Employment
6. Head of Household (check one):
Mother: _
Father: _
Other: (specify relationship — i.e. legal guardian, sister, brother, etc.
Income Computation
7. The total anticipated income, calculated in accordance with the provisions of this Section
7, of all persons over the age of 18 years listed above for the 12 -month period beginning the date
that I/we plan to move into a unit is $
Included in the total anticipated income listed above are:
(a) all wages and salaries, overtime pay, commissions, fees, tips and
bonuses and other compensation for personal services, before payroll deductions;
(b) the net income from the operation of a business or profession or
from the rental of real or personal property (without deducting expenditures for business expansion
or amortization of capital indebtedness or any allowance for depreciation of capital assets);
ATTACHMENT NO.2
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61147.80021\40183274.4
(c) interest and dividends (including income from assets excluded
below);
(d) the full amount of periodic payments received from social security,
annuities, insurance policies, retirement funds, pensions, disability or death benefits and other
similar types of period receipts, including any lump sum payment for the delayed start of a periodic
payment;
(e) payments in lieu of earnings, such as unemployment and disability
compensation, workmen's compensation and severance pay;
(f) the maximum amount of public assistance available to the above
persons other than the amount of any assistance specifically designated for shelter and utilities;
(g) periodic and determinable allowances, such as alimony and child
support payments and regular contributions and gifts received from persons not residing in the
dwelling;
(h) all regular pay, special pay and allowances of a member of the
Armed Forces (whether or not living in the dwelling) who is the head of the household or spouse;
and
(i) any earned income tax credit to the extent that it exceeds income tax
liability.
Excluded from such anticipated income are:
(a) casual, sporadic or irregular gifts;
(b) amounts which are specifically for or in reimbursement of medical
expenses;
(c) lump sum additions to family assets, such as inheritances, insurance
payments (including payments under health and accident insurance and workmen's
compensation), capital gains and settlement for personal or property losses;
(d) amounts of educational scholarship paid directly to the student of
the educational institution, and amounts paid by the government to a veteran for use in meeting
the costs of tuition, fees, book and equipment. Any amounts of such scholarships, or payments to
veterans not used for the above purposes, are to be included in income;
(e) special pay to a household member who is away from home and
exposed to hostile fire;
(f) relocation payments under Title 11 of the Uniform Relocation
Assistance and Real Property Acquisition Policies Act of 1970;
ATTACHMENT NO.2
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61147.80021140183274.4
(g) foster child care payments;
(h) the value of coupon allotments for the purchase of food pursuant to
the Food Stamp Act of 1977;
(i) payments to volunteers under the Domestic Volunteer Service Act
of 1973; payments received under the Alaska Native Claims Settlement Act.
0) income derived from certain submarginal land of the United States
that is held in trust for certain Indian tribes;
(k) payments or allowances made under the Department of Health and
Human Services' Low -Income Home Energy Assistance Program;
(1) payments received from the Job Training Partnership Act;
(m) the first $2,000 of per capita shares received from judgment funds
awarded by the Indian Claims Commission or the Court of Claims.
8. Do the persons whose income or contributions are included in item 6 above:
(a) have savings, stocks, bonds, equity in real property or other form of
capital investment (excluding the values of necessary items of personal property such as furniture
and automobiles and interests in Indian trust land)? _ Yes _ No; or
(b) have they disposed of any assets (other than at a foreclosure or
bankruptcy sale) during the last two years at less than fair market value? Yes No
(c) If the answer to (a) or (b) above is yes, does the combined total value
of all such assets owned or disposed of by all such persons total more than $5,000? _Yes No
(d) If the answer to (c) is yes, state:
(i) the amount of income expected to be derived from
such assets in the 12 -month period beginning on the date of initial occupancy in the unit that you
propose to rent: $ ; and
(ii) (ii) he amount of such income, if any, that was
included in item 6 above: $
9.
(a) Are all of the individuals who propose to reside in the unit full-time
students*? Yes No
*A full-time student is an individual enrolled as a full-time student during each of five calendar
months during the calendar year in which occupancy of the unit begins at an educational
organization which normally maintains a regular faculty and curriculum and normally has a
ATTACHMENT NO.2
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61147.80021\40183274.4
regularly enrolled body of students in attendance and is not an individual pursuing a full-time
course of institutional or farm training under the supervision of an accredited agent of such an
educational organization or of a state or political subdivision thereof.
(b) If the answer to 8(a) is yes, is at least one of the proposed occupants
of the unit a husband and wife entitled to file a joint federal income tax return? _Yes No
10. Neither myself nor any other occupant of the unit I/we propose to rent is the Owner of the
property in which the unit is located (hereinafter the "Owner"), has any family relationship to the
Owner or owns, directly or indirectly, any interest in the Ownership. For purposes of this section,
indirect the Ownership by an individual shall mean the Ownership by a family member, the
Ownership by a corporation, partnership, estate or trust in proportion to the Ownership or
beneficial interest in such corporation, partnership, estate or trust held by the individual or a
family member, and the Ownership, direct or indirect, by a partner of the individual.
11. This certificate is made with the knowledge that it will be relied upon by the Owner to
determine maximum income for eligibility to occupy the unit; and I/we declare that all
information set forth herein is true, correct and complete and, based upon information I/we deem
reliable and that the statement of total anticipated income contained in Section 7 is reasonable
and based upon such investigation as the undersigned deemed necessary.
12. I/we will assist the Owner in obtaining any information or documents required to verify
the statements made herein, including either an income verification from my/our present
employer(s) or copies of federal tax returns for the immediately preceding calendar year.
13. I/we acknowledge that I/we have been advised that the making of any misrepresentation
or misstatement in this declaration will constitute a material breach of my/our agreement with the
Owner to lease the units and will entitle the Owner to prevent or terminate my/our occupancy of
the unit by institution of an action for eviction or other appropriate proceedings.
14. Housing Issuer Statistical Information (Optional --will be used for reporting purposes
only):
Marital Status:
Race (Head of Household)
White Asian Hispanic
African-American Native American Other
Physical Disability: Yes No
I/we declare under penalty of perjury that the foregoing is true and correct.
Executed this day of _ in the County of Orange, California.
Applicant
Applicant
[Signature of all persons over the age of 18 years listed in number 2 above required]
ATTACHMENT NO.2
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61147.80021\40183274.4
FOR COMPLETION BY PROPERTY THE OWNER ONLY:
Calculation of eligible income:
(a) Enter amount entered for entire household in 6 above:
(b) (1) If answer to 7(c) above is yes, enter the total amount entered
in 7(d)(1), subtract from that figure the amount entered in 7(d)(2) and enter the remaining balance
(2) Multiply the amount entered in 7(c) times the current passbook savings rate to
determine what the total annual earnings on the amount in 7(c) would be if invested in passbook
savings ($�, subtract from that figure the amount entered in 7(d)(2) and enter the
remaining balance
(3) Enter at right the greater of the amount calculated under (1) or (2) above:
(c) TOTAL ELIGIBLE INCOME
(Line I(a) plus line 1(b)(3): $
2. The amount entered in 1(c):
Qualifies the applicant(s) as a Qualified Household.
Does not qualify the applicant(s) as Qualified Household.
Apartment unit assigned:
Bedroom Size: Rent: $
4. This apartment unit [was/was not] last occupied for a period of 31 consecutive days by
persons whose aggregate anticipated annual income, as certified in the above manner upon their
initial occupancy of the apartment unit, qualified them as a Qualified Household.
Method used to verify applicant(s) income:
Employer income verification.
Copies of tax returns.
Other ( )
Manager
The undersigned employee has applied for a rental unit located in a project financed in part by
the City of San Juan Capistrano for persons of very low income. Every income statement of a
ATTACHMENT NO.2
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61147.80021\40183274.4
prospective tenant must be stringently verified. Please indicate below the employee's current
annual income from wages, overtime, bonuses, commissions or any other form of compensation
received on a regular basis.
Annual wages Overtime Bonuses
Commissions
Total current income
I hereby certify that the statements above are true and complete to the best of my knowledge.
Signature Date Title
I hereby grant you permission to disclose my income to
order that they may determine my income eligibility for rental of an apartment at
Signature
Please send to:
Date:
I hereby attach copies of my individual federal and state income tax returns for the immediately
preceding calendar year and certify that the information shown in such income tax returns is true
and complete to the best of my knowledge.
Signature
6xa7.sao21wm3327a.a
Date:
ATTACHMENT NO.2
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ATTACHMENT NO.3
TO
REGULATORY AGREEMENT
(City Hall — Paseo Adelanto Mixed Use Permanent Supportive Housing)
Certificate of Continuing Program Compliance
For Annual Reporting Period Ending
The undersigned, , as the authorized representative of
LP, a California limited partnership ("Owner"), has read and is thoroughly familiar with the
provisions of the various documents associated with the financial assistance provided by the City
of San Juan Capistrano ("City"), as established in numerous documents including the Regulatory
Agreement, dated as of , 2020, between the Owner and the City.
As of the date of this Certificate, the following percentage of residential units in the PSH Project
are (i) occupied by Qualified Households (as such term is defined in the Regulatory Agreement)
or (ii) are currently vacant and being held available for such occupancy and have been so held
continuously since the date a Qualified Household vacated such unit, as indicated:
Number of Units occupied by Qualified Households:
Number of Vacant Units:
Number of Qualified Households who commenced:
occupancy during the preceding reporting period:
Attached is a separate sheet ("Occupancy Summary") listing, among other items, the appropriate
information for each residential unit in the PSH Project, the occupants of each unit and the rent
paid for each unit. The information contained thereon is true and accurate and reasonable and is
based on information submitted to the Owner and is certified under penalty of perjury by each
tenant.
[Signatures on following page]
ATTACHMENT NO.3
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61147.80021140183274.4
The undersigned hereby certifies that (1) a review of the activities of the Owner during such
reporting period and of the Owner's performance under the Regulatory Agreement has been
made under the supervision of the undersigned; and (2) to the best of the knowledge of the
undersigned, based on the review described in clause (1) hereof, the Owner is not in default
under any of the terms and provisions of the above documents.
Dated: OWNER
partnership
By:
Name:
Its:
ATTACHMENT NO.3
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61147.80021\40183274.4
LP, a California limited
OCCUPANCY SUMMARY
Total Number of Units in the PSH Project:
Total Units occupied by Qualified Households:
Total Units available for rent to Qualified Households:
ATTACHED IS THE FOLLOWING INFORMATION:
A. Resident and rental information on each occupied apartment in the complex.
B. Certification of Tenant Eligibility for all Qualified Households who have moved
into , San Juan Capistrano, California, since the filing of the last
Occupancy Summary. The same are true and correct to the best of the undersigned's
knowledge and belief.
Dated: OWNER
partnership
By:
Name:
Its:
ATTACHMENT NO.3
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61147.8002 N0183274.4
LP, a California limited