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Home My WebLink About22 - Restrictive Covenants - Firehouse Development, LLC - 34 North Rouse Avenue (2) 2788923 Page 1 of 5 10/17/2022 02 16:24 PM Fee $40.00 Eric Semerad- Gallatin County, MT MISC Original to: City of Bozeman City Clerk PO Box 1230 Bozeman,MT 59771-1230 pp� M T E MONTANA TITLE AND ESCROW ORDER#lam 5LiC1" DOCUMENT ELECTRONICALLY RECORDED THE F1RE411OUSE DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS This Declaration is made this 3rd day of October 2022 by Firehouse Development, LLC (Declarant). RECITALS A. Declarant owns certain real property located at 34 North Rouse Avenue, Bozeman, MT 59715 in Gallatin County,Montana, and more particularly described as follows: Lots 15, 16, 17, 18, and 19 in Block F of Rouses First Addition, City of Bozeman, Gallatin County, MT. EXCEPTING therefrom the portion transferred to Montana Department of Transportation for Highway Right of Way,further described in the Bargain and Sale Deed recorded as Document 2527031 on 10/07/2015 with the Gallatin County Clerk and Recorder. Hereinafter referred to as the"Property." B. As a condition of performance of the terms of the Purchase and Sale Agreement entered into between Declarant and the City of Bozeman (City), approved by the City pursuant to Ordinance 2021,Declarant is required to record a covenant running with the land pursuant to the terms of section 2.5 of the Purchase and Sale Agreement,the term of which are hereby incorporated;and C. To satisfy the requirement of the Purchase and Sale Agreement,the Declarant desires to place covenants, conditions and restrictions upon the Property for the use and benefit of Declarant and of the future owners thereof and the City of Bozeman. NOW,THEREFORE,Declarant hereby declares that the residential units within the Property as described above shall be held,sold, and conveyed subject to the following COVENANTS, CONDITIONS and RESTRICTIONS. These Covenants, Conditions and Restrictions shall run with the real property and shall be binding upon all owners thereof, and shall inure to and be binding upon each successor in interest to the owner thereof. The Firehouse Declaration of Covenants, Conditions and Restrictions - 1 - Original to: City of Bozeman City Clerk PO Box 1230 Bozeman,MT 59771-1230 T E MONTANA TITLE AND ESCROW ORDER#M'3Mqt"8 DOCUMENT ELECTRONICALLY RECORDED THE FIREHOUSE DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS This Declaration is made this 3rd day of October 2022 by Firehouse Development, LLC (Declarant). RECITALS A. Declarant owns certain real property located at 34 North Rouse Avenue, Bozeman, MT 59715 in Gallatin County, Montana, and more particularly described as follows: Lots 15, 16, 17, 18, and 19 in Block F of Rouses First Addition, City of Bozeman, Gallatin County, MT. EXCEPTING therefrom the portion transferred to Montana Department of Transportation for Highway Right of Way, further described in the Bargain and Sale Deed recorded as Document 2527031 on 10/07/2015 with the Gallatin County Clerk and Recorder. Hereinafter referred to as the "Property." B. As a condition of performance of the terms of the Purchase and Sale Agreement entered into between Declarant and the City of Bozeman (City), approved by the City pursuant to Ordinance 2021, Declarant is required to record a covenant running with the land pursuant to the terms of section 2.5 of the Purchase and Sale Agreement,the term of which are hereby incorporated; and C. To satisfy the requirement of the Purchase and Sale Agreement,the Declarant desires to place covenants, conditions and restrictions upon the Property for the use and benefit of Declarant and of the future owners thereof and the City of Bozeman. NOW, THEREFORE,Declarant hereby declares that the residential units within the Property as described above shall be held, sold, and conveyed subject to the following COVENANTS, CONDITIONS and RESTRICTIONS. These Covenants, Conditions and Restrictions shall run with the real property and shall be binding upon all owners thereof, and shall inure to and be binding upon each successor in interest to the owner thereof. The Firehouse Declaration of Covenants, Conditions and Restrictions - 1 - 1. Provision of Income Restricted Housing. a. Declarant agrees to and must provide on the Property, a minimum of 50 housing units that are priced no greater than 120% of Area Median Income per the matrix set forth in Exhibit A(Affordable Units). Area Median Income (AMI) means the Area Median Income reported annually for single persons and households of various size 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 of Bozeman, Montana. b. The sale and oversight of the Affordable Units shall be administered by a community land trust or other entity acceptable to the City. The City must approve the entity in writing. Any change of the responsible entity must also be approved by the City in writing. 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 resold or otherwise transferred or offered for rent or lease,but regardless of whether the unit is owner-occupied or made available for rent or lease, the Affordable Units must be perpetually affordable to households with income no greater than 120%of the AMI. All sales prices for the units must be based on the most recent affordability data available through the Housing and Urban Development's Affordability Data System for Bozeman or similar affordability data available at the time of sale or resale. All rent prices must be affordable to tenants with income no greater than 120% of the AMI. e. The Affordable Units must have equal access to enjoyment of all common elements of the Property as the market rate units. 2. Prohibition on Use as Short Term Rentals. The Affordable Housing Units are prohibited from being marketed,used,rented, or made available as short term rentals, as the term is defined in the Bozeman Municipal Code including all amendments which may occur after the date of recording of this Declaration. 3. Duration. The covenants, conditions, and restrictions of this Declaration shall run with and bind the land in perpetuity and shall inure to the benefit of Declarant, each owner of property,the City of Bozeman, and their respective legal representatives, heirs, successors, or assigns, subject to the right of amendment provided in this Article. 4. Amendment. This Declaration may be amended only upon the written consent and approval of the Bozeman City Commission and 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 of Bozeman, 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. The Firehouse Declaration of Covenants, Conditions and Restrictions -2 - 6. 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. 7. 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. i The Firehouse Declaration of Covenants, Conditions and Restrictions - 3 - IN WITNESS WHEREOF the DECLARANT has signed this instrument and arranged for its recordation in the real property records of Gallatin County, Montana. LAND WNERS B : Managing Mem e i e ouse LLC STATE OF COUNTY OF )s On this day of `� 202 ,before me,the undersigned, a Notary Public for the State of Montana,personally appeared as managing member of Firehouse, LLC and acknowledged this record. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first above written. (SEAL) (Printed Na e re) TAMMY REDFERN Notary Publi fol the State o V RED _�P�. ''' •F9ti;' Notary Public Residing at �o'VARIgi. _for the State of Montana g -- * Residing at: My Commission Expires: � ,SEAL..* Bozeman, Montana� My commission Expires: (Use 4 digits for expiration year) OF •''' November 04, 2023 The Firehouse Declaration of Covenants, Conditions and Restrictions - 4 - IN WITNESS WHEREOF the CITY OF BOZEMAN has signed this instrument and consents to its contents. CITY OF BOZEMAN By: ftolihefieh, City Manager ATTEST: Deputy city cI CO. STATE OF MONTANA ) :ss COUNTY OF GALLATINC^) On this day of Jf , 2021; before me, a Notary Public for the state of Montana,personally appeared Jeff Mihelich and Ali known to me to the persons described in and who executed the foregoing ins un t a io c p g ' giument as City anage and City Clerk respectively, of the City of Bozeman, whose names are subscribed to the within instrument and acknowledged to me that they executed the same for and on behalf of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first above written. (SEAL) t —" Not y Pub 'c for the State of Montana JULIE HUNTER HU Notary Public NoTAM ;for the State of Montana Residing at: ,.SEAL, Q- Bozeman, Montana '9OF MOP'\ My Commission Expires: June 11, 2025 The Firehouse Declaration of Covenants, Conditions and Restrictions - 5 - I