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Home My Public Portal About2021.08.10 Restrictive Covenant - Richard Stratton & Laura Forsyth w_exhibit Instrument # 443503 VALLEY COUNTY,CASCADE,IDAHO 08-25-2021 08:48:22 No.of Pages:6 Recorded for:CITY OF MCCALL DOUGLAS A.MILLER Fee:$0.00 Ex-Officio Recorder Deputy:KM Electronically Recorded by Simplifile Restrictive Covenant THIS RESTRICTIVE COVENANT is made and entered into between THE CITY OF McCALL, IDAHO ("McCall") and Richard Stratton & Laura Forsyth hereinafter collectively referred to as the GRANTOR. Witnesseth: WHEREAS, Grantor is the owner of the following described real property, to-wit: See legal description attached as Exhibit 1 which is zoned for single residential use and is hereinafter referred to as "the property"; and WHEREAS, there currently exists on the property a detached accessory dwelling unit, or Grantee intends to construct a 2450 sqft detached shop with a 740 sqft apartment/detached accessory dwelling unit on the property; and WHEREAS, Grantor may determine to rent the 740 sqft apartment as a lessor such detached accessory unit as part of the Incentive Program with McCall that involves rental units for local housing in exchange for valuable consideration; and WHEREAS, McCall is administering this Covenant on behalf of Valley County. WHEREAS, this restrictive covenant is applicable to the property when Grantor is renting the 740 sqft apartment as a lessor, an accessory dwelling unit on the property. NOW, THEREFORE, the parties do hereby adopt the following restrictive covenant applicable to the property, to-wit: 1. RESTRICTIVE COVENANT. Grantor is a participant in the Incentive Program with Valley County in exchange for valuable consideration and is renting as a lessor the accessory dwelling unit on the property, and the accessory dwelling unit will be used/rented for local housing only. 2. RECORDING. This Restrictive Covenant will be recorded as a restriction on the property following its execution by both parties. Future conveyances of the property shall include the following restriction: RESTRICTIVE COVENANT- 1 This conveyance is subject to the restriction set forth in that certain Restrictive Covenant between Richard Stratton & Laura Forsyth as Grantor and The City of McCall, Idaho, recorded , , as Instrument # , records of Valley County, Idaho, specifically that _Richard Stratton & Laura Forsyth was/were a participant in the City of McCall Incentive Program for which he/she/they received consideration, so that any current or future accessory dwelling unit located on the above described real property will only be used/rented for local housing as defined in adopted City of McCall policy. Grantor hereby covenants and agrees, and Valley County approves pursuant to its signature below, that the Property shall be subject to certain restrictions, as follows (collectively "Local Housing Restrictions"): (1) General Criteria: (a) General criteria for all tenants or occupants of the Property ("General Criteria"): (i) Employed, work minimum 30 hours/week or 1,560 hours/year, for a set period (6 consecutive months) or, have employment offer from, a McCall Business; or (ii) Senior (age 65 and older) as primary resident as may be further defined in the applicable McCall Local Housing Policy; or (iii) Person with disability; and (iv) No Short-Term Rental or vacation renting or sub-leasing. (b) Clarification of General Criteria: (i) An employer with employees who satisfy the General Criteria may rent or purchase the Property for rental to such employees, subject to these Local Housing Restrictions with regard to rentals. (ii) A "McCall Business" is a business that has a physical location within the McCall Area as described in McCall City Council Resolution No. 19-02. Businesses that have multiple physical locations, must include at least one location within the McCall Area as described in Resolution No. 19-02, to qualify as a McCall Business. Telework, or other work from home, for a business which is not located within the McCall Area as described in Resolution No. 19-02 does not qualify as a McCall Business. (iii) Short-Term Rentals shall be defined as a rental or lease for thirty (30) days or less. . (2) Restrictions on Rental of the Property: (a) Any tenant must meet the General Criteria at the time of commencement of the lease. (i) (b) The Base Rental Rate for the 740 sqft apartment/Property shall be: $ 1200.00 or the monthly rent charged to RESTRICTIVE COVENANT-2 the first tenant after the date of this deed, whichever is less; and, the Base CPI shall be_285.793 . The base rental rate will be adjusted annually and according to the percentage increase of the Consumer Price Index for All Urban Consumers (CPI-U) for the twelve calendar months prior to and including the most recent month for which such Index is available. The base for computing the adjustment is the Consumer Price Index, All Items, for the West Region Area(1982-84 = 100) as published by the United States Department of Labor, Bureau of Labor Statistics. Annual increases in the rental rate for the Property may not exceed the Base Rental Rate multiplied by the CPI Percentage Increase. The owner of the property will use the following formula to compute the calculation for each year's base rental rate: The Current Year's Base Rental Rate= Last Year's Base Rental Rate x(The Current CPI /Previous Year's CPI) Example: For a lease beginning January 1, 2020. The CPI for December 2018 = 251.233 The CPI for December 2019= 256.974 Base Rental Rate= $1,000.00 Adjusted Base Rental Rate = $1,023.00 [$1,000.00 x(256.974 / 251.233)]. The rent beginning on January 1, 2020 may not exceed 102.3% of the 2019 base rental rate, i.e., $1,023.00. Annual increases in the rental rate for the Property may not exceed the Base Rental Rate multiplied by the CPI Percentage Increase. (c) If a tenant ceases to satisfy the General Criteria during the lease term, they shall not be required to move out of the Property until the expiration of the term of their lease. Leases shall have a maximum term of one year; provided, that the lease can be renewable on a year to year basis upon confirmation of qualification of the General Criteria prior to each renewal period. However, a tenant who ceases to satisfy the General Criteria shall be required to vacate the premises at the end of their lease and will not be eligible for a renewal of that lease. 3. RUN WITH THE LAND. This Restrictive Covenant is perpetual and shall run with the property. 4. RECITALS. The above recitals are hereby incorporated into and made a part of this agreement. 5. ENTIRE AGREEMENT. This agreement constitutes the entire agreement between the parties hereto. RESTRICTIVE COVENANT- 3 6. REMEDIES. Each party shall have all remedies in law to enforce the provisions of this agreement including, but not limited to, specific performance or injunctive relief. 7. ATTORNEY FEES: In the event an action is brought to enforce any of the terms or provisions of this agreement, or enforce forfeiture thereof for default thereof by either of the parties hereto,the successful party to such action or collection shall be entitled to recover from the losing party a reasonable attorney fee, together with such other costs as may be authorized by law. 8. SEVERABILITY: In the event any of the provisions of this agreement shall be deemed illegal or unenforceable, such determination shall not operate to invalidate any of the remaining provisions of this agreement. 9. HEADINGS: The capitalized paragraph headings are for convenience only and are not a part of this agreement and shall not be used in interpreting or construing this agreement. 10. SITUS: This agreement is established under the laws of the State of Idaho, and all questions concerning its validity and construction shall be determined under such laws. 11. AGREEMENT SURVIVES CLOSING: All covenants, agreements and representations contained in this agreement shall not be deemed to be merged into or waived by the instruments at closing, but shall expressly survive such closing and be binding upon the parties obligated thereby. 12. BINDING EFFECT: The provisions and stipulations of this agreement shall inure to and bind the heirs, personal representatives, assigns and successors in interest of the parties hereto. IN WITNESS WHEREOF, the parties have executed this agreement. VALLEY COUNTY, IDAHO ANTOR: aga ?cLit...„...j__ Dated: D ted: '16 "701( D e : 3_ (2- ,-Z-0 1 RESTRICTIVE COVENANT-4 EXHIBIT 1 LEGAL DESCRIPTION Lot 57,Valley View Subdivision No. 3,situate in the E 1./i' of Section 19 an the NW 1/4 NW 34 of Section 20, T18N, R3E, B.M.,Valley County Idaho. STATE OF IDAHO ) as County of Valley ) On this Z day of 4 > k- , ?.ej L I , before me, a Notary Public, personally appeared L ( �; 4.(�b r , the C'ko.•trN`c.i . of the Valley County, Idaho, known or identified to me to be the person whose name is subscribed to the within instrument, and acknowledged to me that he executed the same on behalf of th City of McCall, Idaho, and was authorized to do so. , Notary Public for Idaho ' '',,• o.b•• (SEAL) Commission expires: •° 4: ��13 • • •. /)(JB l_tC ; STATE OF IDAHO ) sJ•st:N, 0:0 O� :ss County of Valley ) ,••,` ,OF Woo On this tO day of aq j } , 'VDZ 1 , before me,a Notary Public,personally appeared g‘dnotra SirraMON U Lc cv . civ•Sy-V1.1 , known or identified to me to be the person(s)whose name(s) is (are) subscribed to the within instru nt,an acknowledged to me that he (she) (they) executed the same. • r ? t SARAH EDSON NOTARY PUBLIC-STATE OF IDAHO Votary ub l is for Idaho (SEAL) COMMISSION NUMBER 20200108 commission expires: l — i0 -Zo2 c MY COMMISSION EXPIRES 1-10-2026 ja/W:\Work\M\McCall,City of 2I684\Community Development\Local Housing\2021.02.17 Deed Restriction Restrictive Covenant for ADU.docx RESTRICTIVE COVENANT- 5