|
duration of the absence. Upon written request of the LHA or City, a unit owner shall provide
<br /> such information as the LHA or City may reasonably request to satisfy itself that the applicable
<br /> unit will be used or is being used as the unit owner's sole permanent place of residence. In
<br /> making such a determination, the LHA or City may take into consideration information relating
<br /> to the circumstances of the owner, including but not limited to business pursuits; employment;
<br /> income sources; residence for income and other tax purposes; age; marital status; residence of
<br /> parents, spouse and children, if any; location and use of personal and real property; motor
<br /> vehicle registration; and other registrations and licenses, and ownership or occupancy of any
<br /> second home.
<br /> (b) Business use. Units may not be used for any business activities, except as may be
<br /> allowed by then existing zoning codes, City ordinances and restrictive covenants governing the
<br /> Property.
<br /> (c) No Rentals. A unit owner shall not lease or rent his or her unit to other parties.
<br /> This restriction may be waived by the LHA and City in writing to allow a temporary rental of a
<br /> unit for good and sufficient cause, such as, short-term vacations (less than two (2) months),
<br /> medical emergencies, extended period of unsuccessful sales efforts, or during the administration
<br /> of an estate sale. A unit owner must receive advance written permission from both the LHA and
<br /> City, acting through, respectively, the LHA Executive Director and City Manager, or his or her
<br /> respective designee, to rent his or her unit.
<br /> (d) Maintenance. Each unit owner shall maintain his or her unit in a good, safe, and
<br /> habitable condition in all respects, except for normal wear and tear, and in full compliance with
<br /> all applicable laws, ordinances, homeowner covenants or rules and regulations of any
<br /> governmental authority with jurisdiction over matters concerning the condition of such unit.
<br /> Unit owners shall take reasonable steps to avoid having any mechanic's liens recorded against
<br /> his or her unit.
<br /> 14. Duration and Amendment.
<br /> (a) Covenant Running with Land; Duration. The terms of this Agreement constitute
<br /> covenants running with the land that is described as the Property on Exhibit A, and each unit in
<br /> perpetuity. This Agreement shall bind, and the benefit hereof shall inure to the City, FHFH and
<br /> LHA, and unit owners, and any heirs, legal representatives, executors, successors and assignees
<br /> thereof. The units shall be held, conveyed, hypothecated, encumbered, leased, rented and
<br /> occupied subject to the covenants, restrictions and limitations set forth herein, which are
<br /> intended to constitute both equitable servitudes and covenants running with the land and each
<br /> unit in perpetuity. Any buyer or transferee of the units or any portion thereof, by acceptance of a
<br /> deed therefor, or by the signing of a contract or purchase agreement to purchase the same, shall,
<br /> by acceptance of such deed or by the signing of such contract or agreement, be deemed to have
<br /> consented to and accepted the covenants, conditions, restrictions and limitations set forth herein,
<br /> whether or not there is any express reference to this Agreement in such deed or contract.
<br /> (b) Amendment. This Agreement may be amended at any time by a recorded
<br /> document executed and acknowledged by the unit owners and the City and LHA. An
<br />
|