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Home My WebLink About23 - Restrictive Covenants - Bozeman Coho, LLC - 3144 Wagonwheel Road, BOZEMAN COHO CONDOMINIUMS 2814983 Page 1 of 5 11/09/2023 01:00:33 PM Fee: $40.00 Eric Semerad - Gallatin County, MT MISC Original to: 11111111111111111 IN City of Bozeman Attn: City Clerk PO Box 1230 Bozeman,MT 59771-1230 DECLARATION OF RESTRICTIVE COVENANTS This Declaration is made this 'S day of ove -r , 20,9 by Bozeman Coho, LLC located at 3120 Wagonwheel Road,Bozeman,Montana 59715 ("Declarant"). RECITALS A. Declarant owns certain real property located at 3144 Wagonwheel Road, Unit 38, Bozeman, Montana 59715, and more particularly described as follows (the"Property"): UNIT B IN BUILDING IX OF BOZEMAN COHO CONDOMINIUMS, LOCATED ON TRACT B-1 OF CERTIFICATE OF SURVEY NO. 526A, A TRACT OF LAND LOCATED IN THE SW1/4 OF SECTION 19, TOWNSHIP 2 SOUTH, RANGE 6 EAST, P.M.M., GALLATIN COUNTY, MONTANA, ACCORDING TO THE OFFICIAL PLAT THEREOF ON FILE AND OF RECORD IN THE OFFICE OF THE COUNTY CLERK AND RECORDER OF GALLATIN COUNTY, MONTANA. TOGETHER WITH AN UNDIVIDED 1.7% INTEREST IN THE COMMON ELEMENTS OF THE CONDOMINIUM APPERTAINING TO SAID UNIT, AS SET OUT, ESTABLISHED AND DEFINED IN THE DECLARATION AND BYLAWS RECORDED JUNE 20, 2023 AS DOCUMENT NOS. 2803444 AND 2803445, RECORDS OF GALLATIN COUNTY, MONTANA. THE USE OF THE UNIT SHALL BE FOR RESIDENTIAL PURPOSES ONLY. Declaration of Restrictive Covenants 1 2814983 Page 2 of 5 11/09/2023 01.00.33 PM e r` B. It is the intent of the Declarant to meet the conditions of the DevelopmerA Agreement(the"Agreement"), dated as of Jw..n ,by and among Bozeman Coho,LLC (`Bozeman Co-Housing"),the City of Bozeman,Montana(the"City"), and Declarant, in relation to the development of the Bozeman Co-Housing project(the"Project") on the Property; and C. Declarant agrees that it receives a significant benefit from the Agreement, as_ Susanne Cowan or such other individual as Bozeman Co-Housing shall designate in writing; and D. To satisfy the requirements of the Agreement, the Declarant desires to place covenants, conditions and restrictions upon the Property for the use and benefit of Declarant, Bozeman Co-Housing and the City. NOW, THEREFORE,Declarant hereby declares: 1. Provision of Income Restricted Housing. a. Declarant agrees that a minimum of two of the residential units developed on the Property as part of the Project(the"Affordable Units") will be restricted for a period not less than 99 years for use as housing affordable to households with incomes equal to 100% of the area median income("AMI"), as reported annually for single persons and households of various sizes by the United States Department of Housing and Urban Development, or by any successor United States Government department, agency, or instrumentality, for the Primary Metropolitan Statistical Area which includes the City. b. The sale and management of the Affordable Units shall be administered by a third- party nonprofit or government entity with experience in managing affordable housing units, or other entity acceptable to the City. c. Declarant must construct and make available on the market all Affordable Units no later than the time all other market rate residential units are available. d. The Affordable Units may be operated as rental units or owner-occupied units with restrictions on resale prices. Throughout the term of this Declaration, the Affordable Units must be affordable to households with income no greater than 100% of the AMI. All sales prices and rental prices for the Affordable Units must be based on the most recent affordability data available through the Housing and Urban Development's Affordability Data System for the City or similar affordability data available at the time of rental or sale/resale. e. The Affordable Units must have equal access to enjoyment of all common facilities of the Property as the market rate units. 2. Prohibition on Use as Short Term Rentals. The Affordable Housing Units are prohibited from being used, rented, or made available as short-term rentals, as the term is defined in the Bozeman Municipal Code. 3. Term. This Declaration shall remain in place and be enforceable for a term of 30 years from the date hereof and shall inure to the benefit of Declarant, each owner of property, the Declaration of Restrictive Covenants 2 2814983 Page 3 of 5 11/09/2023 01.00.33 PM City, and their respective legal representatives, heirs, successors, or assigns, subject to the right of amendment provided in this Article. 4. Amendment. This Declaration may not be amended without the prior written consent of the Bozeman City Commission. Any amendment shall become effective only upon the filing of such amendment in the records of the Clerk and Recorder of Gallatin County, Montana. 5. Enforcement. The Declarant,the City, or any owner of real property within the Property may take action to enforce the provisions of this Declaration. Enforcement may be by injunction, declaratory judgment, action for damages, or any other legal claims, all of which shall be cumulative and non-exclusive. The prevailing party in any action shall be entitled to recover, in addition to other damages, its reasonable litigation expenses, including attorney's fees, as may be awarded in the judgment of the court. 6. Covenants to Run with the Land. The Declarant intends that the terms of this Declaration shall with the land and shall continue in effect with respect to the entire Property notwithstanding any partition or division of the Property. 7. Severability. Invalidation of any one of these covenants or restrictions by judgment or court order shall in no way affect any other provisions, which shall remain in full force and effect. 8. Choice of Law and Venue. This Declaration of Covenants, Conditions, and Restrictions shall be governed by the laws of Montana and venue shall be in Gallatin County, Montana. IN WITNESS WHEREOF the DECLARANT has signed this instrument and arranged for its recordation in the real property records of Gallatin County,Montana. [BOZEMAN COHO,LLC] By: V � v Title: STATE OF :ss COUNTY OF Declaration of Restrictive Covenants 3 2814983 Page 4 of 5 11/09/2023 01.00.33 PM This instrument was signed or acknowledged before me on NOL} 9g)a3 by 1LCxren as tnz.-,mb?.,fof B)Z.Pyn f;0ylb LLG SAMMY MORELAND Notary Public OIARrc '2b:for the State of Montana �I 4T P T,( L SEAWiciing at: rinted Nam : y�� mareAc0.�nc� Belgrade,L� .' � I :� •P=; g , Montana Notary Public for the State of Mc��q My Commission Expires: March 31, 2026 Residing at My commission expires Declaration of Restrictive Covenants 4 2814983 Page 5 of 5 11/09/2023 01.00.33 PM Acknowledged by: CITY OF BOZEMAN y: City Mana er rS, Drs 6��s-Zu 23 ATTEST: �� , M �•� - Mike Maas, City Clerk STATE OF MONTANA ) :ss COUNTY OF GALLATIN ) �. This instrument was signed or acknowledged before me on ?.UZ3b y lich and Mike Maas, acting in the capacities of City Manager and City Clerk, respectively, of the City of Bozeman,Montana. i J UNTF_R ;�],ZIAL ubiic ri ted ame: ��,� " ,oTAaIq for the State of Montana o Public for the State of —'— Residing at: SEAL,2Q Bozeman, Montana Residing atp�pa A A GU My commission Expires:June 11, 2025 My commission expires p(p— Declaration of Restrictive Covenants - 5 - i