ࡱ> SUR '.bjbjAA .@++%%W  ZZZnnn84n,z%z%z%i,k,k,k,k,k,k,$-0n,Z'X%"z%'',  T,z)z)z)'d 8Zi,z)'i,z)z)+B+hV'0+U,,0,+,1")1+1Z+dz% &hz)t&T&z%z%z%,,")Xz%z%z%,''''1z%z%z%z%z%z%z%z%z% : APPENDIX A MANDATORY DEED FORM FOR OWNERSHIP UNITS Deed  SHAPE \* MERGEFORMAT  To State Regulated Property With Covenants Restricting Conveyance And Mortgage Debt THIS DEED is made on this the ______ day of ___________, 20___ by and between _______________________________________________________ (Grantor) and _______________________________________________________ (Grantee). Article 1. Consideration and Conveyance In return for payment to the Grantor by the Grantee of _____________________ Dollars ($ . ), the receipt of which is hereby acknowledged by the Grantor, the Grantor hereby grants and conveys to the Grantee all of the land and improvements thereon as is more specifically described in Article 2, hereof (the Property). Article 2. Description of Property The Property consists of all of the land, and improvements thereon, that is located in the municipality of _________________________, County of _______________________, ǿ޴ýapp, and described more specifically as Block No. ______ Lot No. _____ , and known by the street address: ___________________________________________ ___________________________________________ Article 3. Grantors Covenant The Grantor hereby covenants and affirms that Grantor has taken no action to encumber the Property. Article 4. Affordable Housing Covenants Sale and use of the Property is governed by regulations known as the Uniform Housing Affordability Controls, which are found in New Jersey Administrative Code at Title 5, chapter 80, subchapter 26 (N.J.A.C. 5:80-26.1, et seq, the Regulations). Consistent with the Regulations, the following covenants (the Covenants) shall run with the land for the period of time commencing upon the earlier of (a) the date hereof or (b) the prior commencement of the Control Period, as that term is defined in the Regulations, and terminating upon the expiration of the Control Period as provided in the Regulations. In accordance with N.J.A.C. 5:80-26.5, each restricted unit shall remain subject to the requirements of this subchapter, the Control Period, until the municipality in which the unit is located elects to release the unit from such requirements. Prior to such a municipal election, a restricted unit must remain subject to the requirements of this subchapter for a period of at least 30 years; provided, however, that units located in high-poverty census tracts shall remain subject to these affordability requirements for a period of at least 10 years; A. The Property may be conveyed only to a household who has been approved in advance and in writing by ____________________________________________________, an administrative agent appointed under the Regulations (hereinafter, collectively, the Administrative Agent"). B. No sale of the Property shall be lawful, unless approved in advance and in writing by the Administrative Agent, and no sale shall be for a consideration greater than maximum permitted price (Maximum Resale Price, or MRP) as determined by the Administrative Agent. C. No refinancing, equity loan, secured letter of credit, or any other mortgage obligation or other debt (collectively, Debt) secured by the Property, may be incurred except as approved in advance and in writing by the Administrative Agent. At no time shall the Administrative Agent approve any such Debt, if incurring the Debt would make the total of all such Debt exceed Ninety-Five Percent (95%) of the applicable MRP. D. The owner of the Property shall at all times maintain the Property as his or her principal place of residence. E. Except as set forth in F, below, at no time shall the owner of the Property lease or rent the Property to any person or persons, except on a short-term hardship basis as approved in advance and in writing by the Administrative Agent. F. If the Property is a two-family home, the owner shall lease the rental unit only to income-certified low-income households approved in writing by the Administrative Agent, shall charge rent no greater than the maximum permitted rent as determined by the Administrative Agent, and shall submit for written approval of the Administrative Agent copies of all proposed leases prior to having them signed by any proposed tenant. G. No improvements may be made to the Property that would affect its bedroom configuration, and in any event, no improvement made to the Property will be taken into consideration to increase the MRP, except for improvements approved in advance and in writing by the Administrative Agent. Article 5. Remedies for Breach of Affordable Housing Covenants A breach of the Covenants will cause irreparable harm to the Administrative Agent and to the public, in light of the public policies set forth in the New Jersey Fair Housing Act, the Uniform Housing Affordability Control rules found at N.J.A.C. 5:80-26, and the obligation for the provision of low and moderate-income housing. Accordingly, and as set forth in N.J.A.C. 5:80-26.18: A. In the event of a threatened breach of any of the Covenants by the Grantee, or any successor in interest or other owner of the Property, the Administrative Agent shall have all remedies provided at law or equity, including the right to seek injunctive relief or specific performance. B. Upon the occurrence of a breach of any Covenants by the Grantee, or any successor in interest or other owner of the Property, the Administrative Agent shall have all remedies provided at law or equity including but not limited to forfeiture, foreclosure, acceleration of all sums due under any mortgage, recouping of any funds from a sale in violation of the Covenants, diverting of rent proceeds from illegal rentals, injunctive relief to prevent further violation of said Covenants, entry on the premises, those provided under Title 5, Chapter 80, Subchapter 26 of the New Jersey Administrative Code and specific performance. EXECUTION BY GRANTOR Signed by the Grantor on the date hereof. If the Grantor is a corporation, this Deed is signed by a corporate officer who has authority to (a) convey all interests of the corporation that are conveyed by this Deed, and (b) to bind the corporation with respect to all matters dealt with herein. _________________________________ Signed, sealed and delivered in the presence of or attested by: ______________________ [ seal ] ______________________ [ seal ] ______________________ [ seal ] ______________________ [ seal ] CERTIFICATE OF ACKNOWLEDGEMENT BY INDIVIDUAL ǿ޴ýapp, County of _________________________________ I am either (check one) ____ a Notary Public or ____ a ______________________, an officer authorized to take acknowledgements and proofs in the state of New Jersey. I sign this acknowledgement below to certify that it was executed before me. On this the _____ day of ___________________, 20___ _________________________________________ appeared before me in person. (If more than one person appears, the words this person shall include all persons named who appeared before the officer making this acknowledgement). I am satisfied that this person is the person named in and who signed this Deed. This person also acknowledged that the full and actual consideration paid or to be paid for the transfer of title to realty evidenced by this Deed, as such consideration is defined in P.L. 1968, c. 49, sec. 1(c), is $____________________________. __________________________________________________ Officers signature: Sign above, and print stamp or type name below CORPORATE PROOF BY SUBSCRIBING WITNESS ǿ޴ýapp, County of _________________________________ I am either (check one) ____ a Notary Public or ____ a ______________________, an officer authorized to take acknowledgements and proofs in the state of New Jersey. On this the _____ day of ___________________, 20___, ______________________________ (hereinafter the Witness) appeared before me in person. The Witness was duly sworn by me, and under oath stated and proved to my satisfaction that: The Witness is the _________________ secretary of the corporation which is the Grantor described as such in this deed (hereinafter the Corporation). _________________________________, the officer who signed this Deed is the (title)___________________________ of the Corporation (hereinafter the Corporate Officer). The making, signing, sealing and delivery of this Deed have been duly authorized by a proper resolution of the Board of Directors of the Corporation. The Witness knows the corporate seal affixed to this Deed is the corporate seal of the Corporation. The Corporate Officer affixed the seal to this Deed. The Corporate Officer signed and delivered this Deed as and for the voluntary act and deed of the Corporation. All this was done in the presence of the Witness who signed this Deed as attesting witness. The Witness signs this proof to attest to the truth of these facts. The Witness also acknowledges that the full and actual consideration paid or to be paid for the transfer of title to realty evidenced by this Deed, as such consideration is defined in P.L. 1968, c. 49, sec. 1(c), is $____________________________. Sworn and signed before me on the date above written: __________________________________________________ Witness: Sign above and print or type name below _______________________________________________________ Officers signature: Sign above, and print stamp or type name below     updated February 2015 DEED-RESTRICTED AFFORDABLE HOUSING UNIT WITH RESTRICTIONS ON RESALE AND REFINANCING  35:;<=TUVXY  * 39N('@!!#¾°§ysof` hSCJhS5CJ\hz4 h(CJhS6CJ] hSCJhS5CJ\hShS5CJ \hS5CJ\hL5CJ$\jhSUmHnHuhSjhSUh ThS5CJ\aJh T5CJ$\hS5CJ$\hS5CJ\ hSCJ hS5\# 35<Yv F G   * M d^`$a$$a$$a$$a$$`a$$da$M N z , - . 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L ^ `L.  ^ `.xx^x`.HLH^H`L.^`.^`.L^`L.QeHc        E(5P,z4LN T)]KEyq[UlS k`SLf?%%@'&@UnknownG*Ax Times New Roman5Symbol3. *Cx ArialA$BCambria Math"1h$3g$3g D D%20%%CHX  ?f?2!xx  APPENDIX AhmahaleyHenderson, Keith Oh+'0Lx    ,4<D APPENDIX A hmahaley48A9A736.dotmHenderson, Keith2Microsoft Office Word@@V@V ՜.+,0 hp  NJHMFAD%  APPENDIX A Title  "#$%&'(*+,-./0123456789:;<=>?@ACDEFGHIKLMNOPQTRoot Entry F{VVData !1Table)1WordDocument.@SummaryInformation(BDocumentSummaryInformation8JCompObjr  F Microsoft Word 97-2003 Document MSWordDocWord.Document.89q