Purchase-Sale-Agreement_Habitat-Burts-Bog-WF11-22-17Purchase and Sale Agreement
Three Affordable Housing Lots, Burts Pit Road, Florence section, Northampton, MA
Section 1 – Information and Definitions
1.2.1 DATE of this Agreement: November _____, 2017
1.2 PREMISES: A parcel of land in Northampton, Massachusetts on Burts Pit Road,
containing 0.46 acres, comprised of the land described as “Lot 5,” and “Lot 7” as
shown on a survey prepared by Berkshire Design Heritage Surveys last updated
May 24, 2017 and entitled “Approval Not Required Plan of Land Located in
Northampton, Massachusetts, Prepared for The City of Northampton” and attached
hereto, as the survey may be revised to create three lots out of what is currently
Lots 5 and 7
1.3 SELLER: City of Northampton, attn.: Wayne Feiden
through its Office of Planning & Sustainability
Address: 210 Main Street, Northampton, MA 01060
Phone: (413) 587-1265
Email: WFeiden@NorthamptonMA.gov
Seller's Attorney: Robert Spencer, Jankowski & Spencer
Address: 6 University Drive, #201, Amherst, MA 01002
1.4 BUYER: Pioneer Valley Habitat for Humanity, Inc. (PVH)
with the right to assign to a PVH-owned LLC
Address: attn.: Megan McDonough, Executive Director
PO Box 60642, Florence, MA 01062
Phone: 413-586-5430
Email: Megan@PVHabitat.org
Buyer's Attorney: David Bloomberg, Fierts, Kane & Bloomberg
64 Gothic Street, Northampton, MA 01060
1.5 CLOSING DATE: February 28, 2018 or anytime date mutually agreed upon. Closing
date will be delayed if the City has not yet obtained the necessary
permits outlined in section 1.11(A).
1.6 PLACE: Hampshire County Registry of Deeds, unless some other place
should be mutually agreed upon by the parties.
1.7 PURCHASE PRICE: The total purchase price for the Premises is One Dollar ($1.00).
1.8 TITLE: Quitclaim Deed(s).
1.9 BROKER: City: None
Buyer: None
1.10 WARRANTIES
Except as set forth otherwise in this Agreement, the following representations and
warranties are made by Seller as of the date of this Agreement and also as of the time of
the delivery of the deed: None
1.11 REPRESENATIONS (these are the ASSUMPTIONS of sale and deposits will be
refunded if assumptions prove to be incorrect):
A.The City can provide clear title to the land.
B.The City of Northampton has obtained the zoning special permit, site plan approval,
wetlands Determination of Applicability, and stormwater permits for two building
lots, and shall apply to revise these permits to create a total of three lots, provided that
the Buyer shall have the right to review and approve the proposed site plan for the
Premises in writing before the City makes application for any such permits and
approval.
C.The City has completed a Phase I Environmental Site Assessment that did not
identify any evidence of hazardous releases.
1.12 BUYER’S ADDITIONAL RESPONSIBILITIES
A.The buyer will be responsible for removing any soil and limited asphalt piles on the
property.
B.The purchaser will be required to retain stormwater on-site in accordance with the
above referenced stormwater permit, as that permit may be revised to create an
additional lot
C.The purchaser will be required to comply with any other permit conditions, including
replacing and specimen trees cut either on site and/or off site.
D.Developing the common driveways (shown on the plans) and common driveway
covenant, as the driveways may be revised to create an additional lot.
E.The buyer hereby covenants not to appeal any permit for single family homes on the
other adjacent lots and for a multiuse trail on the adjacent conservation land.
F.The Buyer will be responsible for building three affordable homes on the property
a.Consistent with the attached request for proposals; and
b.Buyer’s attached proposal; and
c.Subject to affordability agreements to be retained by the City, and DHCD if
they so desire, substantially as shown on the attached affordability restriction;
and
d.In accordance with the DHCD standards for affordable housing to be listed on
the Massachusetts Subsidized Housing Inventory.
SECTION 2 -- GENERAL PROVISIONS
2.1 Covenant. Seller agrees to sell and Buyer agrees to buy the Premises upon the terms
hereinafter set forth.
2.2 Buildings, Structures, Improvements, Fixtures. There are no improvements on the property.
Buyer acknowledges that the Premises is being sold in “as is” condition.
2.3 Title Deed. Said Premises are to be conveyed by a good and sufficient quitclaim deed
running to Buyer, or to a nominee designated by Buyer by written notice to Seller at least seven
calendar days before the deed is to be delivered as herein provided, and said deed shall convey a
good and clear record and marketable title thereto, free from encumbrances, except
(a) Provisions of existing building and zoning laws;
(b) Existing rights and obligations in party walls which are not the subject of written
agreement;
(c) Such taxes for the then current year as are not due and payable on the date of the delivery
of such deed;
(d) Any liens for municipal betterments assessed after the date of this Agreement; and
(e) Easements, restrictions and reservations of record, if any, provided the same do not
interfere with use of and access to the Premises.
2.4 Deed and Plans; Seller shall be responsible for drafting the deed.
2.5 Registered Title. The title to this property is not Registered.
2.6 Possession and Control of Premises. Full possession of said Premises free of all tenants and
occupants, except as herein provided, is to be delivered at the time of the delivery of the deed,
said Premises to be then (a) in the same condition as they now are, reasonable use and wear
thereof excepted, and (b) in compliance with provisions of any instrument referred to in clause
2.3 hereof. Buyer shall be entitled personally to inspect said Premises prior to the delivery of the
deed in order to determine whether the condition thereof complies with the terms of this clause.
2.7 Extension to Perfect Title or Make Premises Conform. If Seller shall be unable to give title
or to make conveyance, or to deliver possession of the Premises, all as herein stipulated, or if at
the time of the delivery of the deed the Premises do not conform with the provisions hereof, then
Seller shall use reasonable efforts to remove any defects in title, or to deliver possession as
provided herein, or to make the said Premises conform to the provisions hereof, as the case may
be, and thereupon the time for performance hereof shall be extended for a period of thirty
calendar days.
2.8 Failure to Perfect Title or Make Premises Conform. If at the expiration of the extended time
Seller shall have failed so to remove any defects in title, deliver possession, or make the
Premises conform, as the case may be, all as herein agreed, or if at any time during the period of
this Agreement or any extension thereof, the holder of a mortgage on said Premises shall refuse
to permit the insurance proceeds, if any, to be used for such purposes, then all obligations of the
parties shall cease and this Agreement shall be void without recourse to the parties hereto,
provided however that all deposits made by Buyer under this Agreement shall be refunded to
Buyer, which obligation shall survive the termination of this Agreement. The Buyer
acknowledges that the city may use eminent domain to clean any defective title and waives any
objections to such actions.
2.9 Buyer’s Election to Accept Title. Buyer shall have the election, at either the original or any
extended time for performance, to accept such title as Seller can deliver to the said Premises in
their then condition and to pay therefore the purchase price, without deduction, in which case
Seller shall convey such title, except that in the event of such conveyance in accord with the
provisions of this clause, if the said Premises shall have been damaged by fire or casualty insured
against, then Seller shall, unless Seller has previously restored the Premises to their former
condition, either
(a) pay over or assign to Buyer, on delivery of the deed, all amounts recovered or
recoverable on account of such insurance, less any amounts reasonably expended by
Seller for any partial restoration, or
(b) if a holder of a mortgage on said Premises shall not permit the insurance proceeds or a
part thereof to be used to restore the said Premises to their former condition or to be so
paid over or assigned, give to Buyer a credit against the purchase price, on delivery of
the deed, equal to said amounts so recovered or recoverable and retained by the holder
of the said mortgage less any amount reasonably expended by Seller for any partial
restoration.
2.10 Acceptance of Deed. The acceptance of a deed by Buyer, or its assignee or nominee as
the case may be, shall be deemed to be a full performance and discharge of every agreement and
obligation herein contained or expressed, except such as are, by the terms hereof, to be
performed after the delivery of said deed.
2.11 Use of Money to Clear Title. To enable Seller to make conveyance as herein provided,
Seller may, at the time of delivery of this deed, use the purchase money or any portion thereof to
clear the title of any or all encumbrances or interests, provided that all instruments so procured
are recorded simultaneously with the deed or, for institutional mortgages, are recorded in
accordance with customary conveyancing practices.
2.12 Adjustments. Taxes for the then current fiscal year shall be adjusted in accordance with
G.L. c. 59, § 72A. If the amount of said taxes is not known at the time of the delivery of the
deed, they shall be apportioned on the basis of the taxes assessed for the preceding fiscal year.
2.13 Brokers. No brokers are being used for this transaction.
2.14 Inspection Rights. The parties agree that Buyer shall have the right to obtain, at Buyer's
expense, an inspection of the premises by a consultant of Buyer's during the bid period. In
consideration of right of inspection and rescission, Seller is hereby released from liability
relating to defects in the premises actually disclosed or about which Seller had no actual
knowledge.
2.15 Water/Sewer, ledge, permitting. Seller makes no representations.
2.16 Hazardous Materials, Lead, Asbestos, and Oil. Seller represents and warrants to Buyer
that, to the best of Seller’s knowledge, information and belief, (i) there has been no release of
any hazardous materials or oil on, from or near the Premises, except as noted above, (as used in
this Agreement, the terms "release," "hazardous materials" and "oil" shall have the meaning
given to them in M.G.L.c.21E), (ii) there are no underground storage tanks or other subsurface
facilities holding petroleum or oil products currently in use or previously abandoned on the
Premises and (iii) chlordane has not been used as a pesticide on the Premises. These
representations and warranties shall survive the closing.
2.17 Financing Contingency. Seller’s obligation to purchase is contingent upon the Seller
being able to close on the property under the terms of its Option prior to closing. Seller shall use
reasonable efforts to obtain firm commitment of such closing and shall notify the Seller’s
attorney if Seller is unable close.
2.18 Title to Premises. Notwithstanding anything herein contained, the Premises shall not be
considered to be in compliance with the provisions of this Agreement with respect to title unless:
(a) No building, structure, or right of way, easement or improvement, including any
driveway(s), garages, septic systems and wells or property of any kind encroaches
upon or under the Premises from other premises;
(b) Title to the Premises is insurable, for the benefit of Buyer, by a title insurance
company acceptable to Buyer, in a fee owner's policy of title insurance at normal
premium rates, in the American Land Title Association form currently in use;
(c) All structures and improvements on the Premises, including any driveway(s)
garage(s), septic systems and wells and all means of access to the Premises shall not
encroach upon or under any property not within the lot lines of the Premises;
(d) The Premises abut a public way, or have the benefit of an access and utility
easement over a private way leading to a public way, duly laid out or accepted as
such by the municipality in which the Premises are located.
2.19 Affidavits, etc. Simultaneously with the delivery of the deed, Seller shall execute and
deliver: (a) affidavits and indemnities under oath with respect to parties in possession and
mechanic's liens to induce Buyer’s title insurance company to issue lender's and owner's policies
of title insurance without exception for those matters, and Seller shall indemnify and hold
harmless the title insurance company for any losses, costs, or damages sustained as a result of
issuing a policy without exceptions covered by such representations; (b) an affidavit, satisfying
the requirements of Section 1445 of the Internal Revenue Code and regulations issued
thereunder, which states, under penalty of perjury, Seller’s United States taxpayer identification
number, that Seller is not a foreign person, and Seller’s address (the "1445 Affidavit"); (c)
Internal Revenue Service Form W-8 or Form W-9, as applicable, with Seller’s tax identification
number, and an affidavit furnishing the information required for the filing of Form 1099S with
the Internal Revenue Services and stating Seller is not subject to back-up withholding; and (d)
such additional and further instruments and documents as may be consistent with this Agreement
and customarily and reasonably required by Buyer and/or the Buyer’s title insurance company to
complete the transactions described in this Agreement.
2.20 Title Standards. Any matter or practice arising under or relating to this Agreement which
is the subject of a title standard or a practice standard of the Real Estate Bar Association at the
time for delivery of the deed shall be covered by said title standard or practice standard to the
extent applicable.
2.21 Deposit. A ten percent deposit shall be made by the Buyer as part of its bid submittal and
an additional 10% deposit within 30 days of the City’s acceptance of the Buyer’s bid. The
Deposit shall be held by the City or its attorney. The Deposit shall be duly accounted for at the
time of performance of this agreement or otherwise by the agreement of the parties or by order of
a court of competent jurisdiction.
2.22 Buyer’s Breach. If Buyer shall unjustifiably fail to fulfill Buyer’s part of this Agreement,
all deposits made hereunder, if any, shall be forfeited and become the property of Seller as
liquidated damages, which shall constitute Seller’s sole and exclusive remedy at law or in equity
for Buyer’s default under this Agreement.
2.23 Notices. Any notice required or permitted to be given under this Agreement shall be in
writing and signed by the party or the party's attorney or agent and shall be deemed to have been
given: (a) when delivered by hand, or (b) when sent by Federal Express or other similar courier
service, or (c) when mailed by certified mail, return receipt requested, or (d) upon electronically
confirmed receipt of facsimile delivery (provided that such facsimile delivery is promptly
followed by one of the other permitted forms of notice contained herein), to the party with a copy
to the party’s attorney at the addresses set forth in Section 1.
2.24 Closing. The deed and other documents required by this Agreement are to be delivered
and the Purchase Price paid at the Date and Time of Closing and at the Place of Closing. All
documents and funds are to be delivered in escrow subject to prompt rundown of title and
recording, which term shall include registration in the case of registered land. Seller’s proceeds
may be in the form of an IOLTA check, and the check shall be held in escrow by Seller’s
attorney who shall release the check to Seller only following the recording of the deed.
2.25 Condition of Premises at Closing. Seller agrees to deliver the Premises at the time of
delivery of Seller’s deed in a condition substantially similar to its condition at the time of the
signing of this Agreement.
2.26 Casualty. Notwithstanding anything herein to the contrary, in the event of damage to or
destruction of the Premises by fire, vandalism or other casualty, then at Buyer’s sole option, this
Agreement may be terminated, whereupon all deposits paid by Buyer hereunder shall be
promptly returned to Buyer.
2.27 Liability of Trustee, Shareholder, Fiduciary, etc. If Seller or Buyer executes this
Agreement in a representative or fiduciary capacity, only the principal or the estate represented
shall be bound, and neither Seller or Buyer so executing, nor any shareholder or beneficiary of
any trust, shall be personally liable for any obligation, express or implied, hereunder.
2.28 Extensions. Buyer and Seller hereby authorize their respective attorneys (as the case may
be) to execute on their behalf any extensions to the time for performance and any change of
location and/or time for delivery of the deed. Buyer and Seller shall be able to rely upon the
signature of said attorneys as binding unless they have actual knowledge before the execution or
other consent to such extensions, that either party has disclaimed the authority granted herein to
bind them. For purposes of this Agreement, facsimile signatures shall be construed as original.
2.29 Construction of Agreement. This instrument, executed in multiple counterparts, is to be
construed as a Massachusetts contract, is to take effect as a sealed instrument, sets forth the
entire contract between the parties, is binding upon and inures to the benefit of the parties hereto
and their respective heirs, devisees, executors, administrators, successors and assigns, and may
be canceled, modified or amended only by a written instrument executed by both Seller and
Buyer. If two or more persons are named herein as Buyer their obligations hereunder shall be
joint and several.
2.30 Incorporation; Conflict. All terms of the Request for Proposals and the Buyer’s Proposal
are hereby made a part of this Agreement and are incorporated herein by reference. In the event
of conflicting or inconsistent provisions, the terms of the Request for Proposals and the Buyer’s
Proposal shall control.
2.31 Captions. The captions and headings throughout this Agreement are for convenience of
reference only and the words contained therein shall in no way be held or deemed to define,
limit, explain, modify, amplify or add to the interpretation, construction or meaning of any
provisions of, or the scope or intent of this Agreement, nor in any way affect this Agreement, and
shall have no legal effect.
In Witness whereof, the parties hereto sign this Agreement under seal as of this ___th day of
_______________, 2017.
Buyer:
Pioneer Valley Habitat for Humanity
Attached evidence that the signatory is authorized to sign for the corporation
Seller:
Mayor David J. Narkiewicz
Wayne Feiden, Director of Planning & Sustainability
Joseph M. Cook, Chief Procurement Officer
Joyce Karpinski, Auditor
Proposal Submittal Information
Include with Proposal
Three Dwelling Units at Burts Pit Road, Northampton
Burts Bog Limited Development
We ___________________________________________________________ (name of non‐profit entity)
Price Selection Criteria
We propose to purchase the three lots for (check one and complete):
_______ One Dollar ($1.00) OR
_______ _________ Dollars ($_____)
Request for Proposals
We have reviewed the Request for Proposals on the following pages and acknowledge that we will sign
this Purchase and Sale Agreement, with any blank sections completed, if our proposal is selected.
Attach additional page(s) to describe how your program, project, and agency meet the below
selection criteria:
1.Consistency with Proposed Program.
a.Include a narrative description of the proposed project and explain how does your program
address the program requirements described in the above RFP.
b.Explain if your affordable housing restrictions will exceed the City’s minimum standard (e.g.,
aim for a lower level of affordability than 80% AMI).
c.Explain if your energy performance exceeds the City’s minimum standard (e.g., include solar
PV with the house development to achieve net zero energy.
2.Past Development Experience and Track Record.
a.Include developer experience with a list of completed similar projects and explain how your
agency meets this criteria.
b.Include a description of your development team and their expertise and experience
3.Thoughtfulness of project implementation. Include a rough estimated timetable for developing the
site, including a comprehensive work plan with milestones and a completion strategy and describe
how your project meets this criteria.
Submitted:
Print name Sign name Organization Date
Pioneer Valley Habitat for Humanity, Inc.
Megan McDonough, Executive Director Pioneer Valley Habitat for Humanity, Inc.11/16/17
Request for Proposals for Affordable Housing Development
Three Dwelling Units at Burts Pit Road, Northampton
Burts Bog Limited Development
Released October 9, 2017
Proposals due: Tuesday November 21, 2017, 1:00 PM by email to WFeiden@NorthamptonMA.gov
Questions: Wayne Feiden, Northampton Office of Planning & Sustainability, at email above
Summary: Three building lots, with funding for architectural fees, to be developed for three
affordable single family homes (with or without accessory dwelling units)
Location: Burts Pit Road, Northampton
Eligible Bidder: Nonprofit affordable housing developers
Property Description
Three lots, each with frontage on Burts Pit Road using a single shared driveway for vehicle access. The
property is adjacent to the Burts Bog Greenway, a 121 acre conservation area.
The three lots will be created by dividing up Lots 5 and 7 on the attached site plans into three lots.
Project Details
1. The City has received development Special Permit/Site Plan Approval and Stormwater Permits for the
property. The City intends to apply for new permit to replat Lots 5 and 7 into three lots and convert
Lot 9 into open space.
2. The successful bidder will purchase the referenced property for $1:
a. The bidder will grant the City an affordable housing restriction for three units, one one‐bedroom,
one two‐bedroom, and one three‐bedroom, affordable and sold to families earning no more than
80% of Area Median Income (80% AMI), for a minimum term of 99 years.
b. The bidder must be ready for a February 2018 closing, or whenever all the revised permitting is
complete, whichever is later.
3. The successful bidder will need to comply with all requirements of the Massachusetts Department of
Housing and Community Development’s Local Initiative Program to ensure that the units will be
counted on DHCD’s Subsidized Housing Inventory for Northampton. The bidder should do their due
diligence on DHCD requirements on design, size, sales price, marketing, and tenant selection lottery.
4. The successful bidder will develop a minimum of three single family homes:
a. For sale for individuals or families earning no more than 80% AMI.
b. The bidder may or may not choose to include accessory units in each home, which are not
required to have any affordable housing restrictions.
5. The homes must meet the following performance and program standards:
a. The homes must be net zero energy homes, with the addition of not more than 4kw of photo‐
voltaic panels on site or off site (although the development of those panels is not required).
b. There shall be insulation with a minimum of R30 walls, R60 attic, and R‐20 foundation walls/slap,
or under lowest floor.
c. The house must meet the energy star, building code, energy stretch code, health code in effect
when the house is built.
d. The house must meet the following programmatic requirement
Units Bedrooms Min. Size Max. Size Bathrooms Zero Lot
Line
Heat Extras
One One 500 sq. ft. 800 sq. ft. One full Yes Does not require fossil fuel.
Electricity allowed because
it can be renewable (e.g., air
source heat pump)
No basement
and no
garage One Two 650 sq. ft. 900 sq. ft. One full Yes
One Three 800 sq. ft. 1,000 sq. ft. One & ½ No
6. The City is sponsoring a Just Big Enough‐Green Housing for ALL Design Competition,
www.northamptonma.gov/1834/Just‐Big‐Enough‐competition. Assuming that the City receives at
least ten competition entries:
a. The successful bidder must use an architect (not necessarily the competition winner) from the
design competition to design the homes and for key inspection points
b. The City will provide $45,000 in funding to fund the selected architect once the city sells Lot 4, 6,
and 8 (which is also owns)
c. There is no requirement to use any of the designs from the design competition
7. The successful bidder must be a nonprofit agency whose mission and experience includes affordable
housing development.
Disclosures and conditions
1. The special permit and site plan approval and the stormwater permit designs and conditions must be
followed at the successful bidders cost. This includes, but is not limited to, replacement of significant
trees and drainage improvements.
2. The affordable housing restriction shall be the standard MassDocs affordable housing agreement or
the DHCD “Local Initiative Program Affordable Housing Deed Rider for Projects in Which Affordability
Restrictions Survive Foreclosure,” modified to meet any requirements of the DHCD site eligibility
letter and any DHCD funding. The city will not be subordinate to any other mortgagee or entity
except for DHCD.
3. The successful bidder shall execute the attached contract within 30 days of the City’s award.
4. There are no prohibitions on the bidder requesting other City funds (CDBG or CPA) or any other
outside grants, but there is no commitment or suggestion of any kind that such funds will be made
available.
5. The City reserves the right to reject any and all bids.
Bidder submittal to include, at a minimum, the completed Proposal Submittal Information (below)
1. With a narrative description providing an overview of the proposed project.
2. Rough estimated time schedule for developing the site.
3. Any affordable housing restrictions above the City’s minimum standard.
4. Developer experience with a list of completed same or similar projects.
5. Description of development team.
Selection Criteria
Proposals will be evaluated by Northampton’s Director of Planning & Sustainability, with final approval
by its Chief Procurement Officer. In order of importance, proposals will be evaluated based on the
following:
1. Consistency with Proposed Program. Proposals will be evaluated based on the length of the
affordability term, creativity in allowing owner empowerment (while avoiding windfall profit), and
consistency with DHCD’s Local Initiative Program. The proposal addresses these goals in the most
creative manner, the greatest level of affordability, and the lowest net energy useage will receive
priority.
2. Past Development Experience and Track Record. Proposals will be evaluated based on the
experience with site development, residential construction, and affordable housing. The proposal
with a proven track record of successful projects similar to this one will receive priority.
3. Thoughtfulness of project implementation. Time‐table presented for site preparation, house
construction and site improvements will be evaluated. The proposal that presents a comprehensive
work plan with clear milestones and a completion strategy, not the shortest amount of time, will
receive priority.
City of Northampton
MASSACHUSETTS
_________
In City Council, August 18 2016
Upon the recommendation of Mayor David J. Narkewicz and Planning & Sustainability
Ordered, that
WHEREAS, On May 19, 2016, City Council approved purchase of 110± acres located between
Burts Pit Road, Stone Ridge Road, Overlook Drive, and Florence Road, for open
space and a limited housing development;
WHEREAS, The City has proceeded with its due diligence and designed a limited development
scenario that preserves the quality open space and provides much needed
housing, taking advantage of existing utilities, the best soils, the most
environmentally sensitive design, and the lowest development and permitting
costs;
WHEREAS, The limited development scenario includes:
1. 110± acres as an addition to Brookwood Marsh Conservation Area
2. Up to nine building lots on 2.67± acres (as shown on the attached preliminary
plan) as follows:
A. Overlook Drive Lot 1, only if there is not funding to keep as open space and
B. Burts Pit Road Lots 3 through 10, with one or two lots dedicated for first-
time home buyer affordable housing if CDBG and other funding is
available
3. Driveways (instead of the developer’s planned roads)
WHEREAS, The previous approval remains in effect, which authorizes the city to purchase the
conservation land, and no further conservation approval is required.
Ordered, that
The Mayor is authorized to accept a deed or deeds to the above referenced 2.67± acres;
Further, that City Council declares such land surplus to City needs;
Further, that the Mayor is authorized to transfer deeds for the building lots.
Pioneer Valley Habitat for Humanity Burts Bog Proposal Page 1 of 8
Affordable Housing Development Proposal for
Three Dwelling Units at Burts Pit Road, Northampton ‐ Burts Bog Limited Development
1. Narrative Overview
Pioneer Valley Habitat for Humanity (“Habitat”) proposes to construct three single family homes at the
Burts Pit Rd site identified in the RFP and sell those homes to low‐income households earning 60% or
less of the Area Media Income. We have extensive experience with the development of single family
homeownership units that are permanently affordable and will demonstrate in this proposal our
readiness to meet the requirements of the RFP.
Design and Construction
Habitat homes are simple, affordable and energy efficient. We typically build two, three and four
bedroom homes, with footprints significantly smaller than the national average, ranging in size from
900 to 1,400 square feet depending on the number of bedrooms. For this project we will work with an
architect from the “Just Big Enough” design competition to build 3 smaller homes meeting the design
criteria of:
All 3 units will be on their own building lots but would share a common driveway. We will create a
homeowner’s association or reciprocal easement arrangement for driveway maintenance.
Accessory Dwellings and Future Expansion
We do not plan to build accessory dwellings in addition to the three owner‐occupied homes, but we
are willing to explore site planning possibilities for future addition of accessory dwellings by the
homeowners. We recognize that household space needs tend to change over time and accessory
dwellings can be an excellent way to adapt to changing needs. The addition of a future bedroom is
more likely than the addition of an entire accessory dwelling.
The affordable housing deed restriction would not prohibit someone from putting an addition on their
home or adding an accessory dwelling, but the capital costs incurred for this sort of upgrade would not
add value to the home because the maximum resale price is restricted. Also, given the small site and
the permitting restrictions it is uncertain whether siting accessory dwellings would be feasible.
Pioneer Valley Habitat for Humanity Burts Bog Proposal Page 2 of 8
Energy Efficiency and Solar
Pioneer Valley Habitat aims to build energy efficient homes that are affordable to operate as well as to
purchase. We have successfully built many ENERGY STAR certified homes, including two zero net
energy possible homes in Easthampton that were awarded a competitive grant from the
Massachusetts Department of Energy Resources “Pathways to Zero” program. We commit to meeting
ENERGY STAR homes standards in addition to building code requirements.
All homes in this project will be designed and built to meet a HERS index of zero (+/‐ 5 index points) at
the time of the Certificate of Occupancy with the potential inclusion of on‐site photovoltaics of 4kw or
less. The homes may or may not have PV installed by Habitat depending on the financial feasibility and
the solar access after site clearing. Our goal is to maximize affordability for homeowners and will
install PV if feasible.
A key strategy for achieving the zero HERS rating is to focus on the building envelope. We commit to a
minimum of R30 walls, R60 attic and R20 slab insulation. Our typical construction profile is a 2x6 wall
dense packed with cellulose and 2” of XPS on the exterior creating a continuous insulation layer. We
have also successfully built a double stud wall with dense packed cellulose at our zero net energy
project in Easthampton.
We strive to make our homes simple to construct with volunteer labor – focusing on simple shapes
that are more cost effective to build and easier to air seal for greater energy efficiency. In choosing a
design we would look to fit into the existing neighborhood with well‐sited homes with classic designs
or simple modern appeal. If built on a slab, a shed would be provided for on‐site storage and
considerations of trash storage would be made. Habitat does not build garages or accessory dwellings.
Homeowner Engagement & Empowerment
Habitat’s unique model of engagement with future homeowners helps to ensure that low‐income first‐time
homebuyers are prepared for the challenges of homeownership. The key aspects of this engagement are:
• Requiring “sweat equity” in the construction of the home so that the homeowner is invested in the
project and learns how their home is put together
• Assigning a Habitat mentor to each future homeowner to guide them through the process
• Requiring all future homeowners to attend a homebuyer education course
2. Rough estimated time schedule for developing the site.
Pioneer Valley Habitat for Humanity will be ready for a February 2018 closing or whenever all the revised
permitting is complete. Habitat would like to provide input into the site plan revisions before the city applies for
a revision of permits to create a total of three lots.
Designs that help to move forward conversations about the option of small, energy efficient homes would be a
cornerstone of this project based on the significant investment from the city of Northampton in sponsoring a
design competition. We would like to highlight this investment by getting feedback from potential homeowners
Pioneer Valley Habitat for Humanity Burts Bog Proposal Page 3 of 8
through surveys or public meetings in the design with which we choose to move forward. We anticipate the
process of selecting a designer, getting public input, revising and finalizing designs will take 1 to 2 years from the
time funds are released by the city. We understand that the $45,000 allocated for design will not be released
until lots 4, 6 & 8 have been sold.
With designs in hand, acquiring a building permit and getting bids is estimated to take 6 months to a year and
phased construction to take 1 to 3 years. We anticipate doing all the grading and site work at one time, but may
build the homes in two phases to best take advantage of volunteer labor for this project and our other planned
Northampton projects. We are very excited to also be planning builds at our Glendale Rd and Garfield Ave sites,
thanks to the long‐term partnership of the city. Our goal is to have a project in Northampton under
construction for much of the next 5 years at one or more of these sites.
We anticipate starting construction in 1.5 to 3 years from the time when the city releases funds for architectural
design. We estimate that the project would be completed two to four years from the time construction starts.
Milestones
•City sponsored design competition
•Habitat selects partner for architectural design
•Funds released from city for architectural services
Prereqs
•Iterative desing process with architect
•Get input from potential end users
•Assess solar access for PV
•Local Action Unit application to DHCD with city
•Draft budget and apply for grants
•Construction documents
Pre‐Development
Phase 1
(1‐2 years)
•Get bids on subcontracted work, refine budget
•Family selection ‐ marketing & lottery
•Apply for building permit(s)
Pre‐Development
Phase 2
(6 mo ‐ 1 year)
•Shared site work
•Build 1 or 2 units
Construction Phase 1
(1 ‐ 2 years)
•Build remaining units
Construction Phase 2
(1 ‐ 2 years)
Pioneer Valley Habitat for Humanity Burts Bog Proposal Page 4 of 8
3. Any affordable housing restrictions above the City’s minimum standard
Permanent Deed Restriction
Habitat believes strongly in the long‐term stewardship of affordable housing resources and has made it our
policy to permanently protect all units we build as affordable housing. Once zoning approvals are in place,
Habitat will work with the city to enter into a regulatory agreement with the Massachusetts Department of
Housing and Community Development (DHCD) so that all units built could be listed on the state affordable
housing inventory. The regulatory agreement will include the specific terms of the affordability restriction, but
typically include a permanent deed restriction limiting the resale price and restricting sales to homeowners who
earn below 80% of the Area Median Income.
The proposed homes for this project are smaller than the minimum home size typically required by DHCD, but
Habitat has received a waiver to meet the proposed size requirements.
Initial Sale & Financing
For the initial sale, Habitat will market this homeownership opportunity to households earning 60% of the Area
Median Income or below who meet our program requirements and DHCD’s requirements. This is consistent with
the minimum requirements in the RFP. We have extensive experience with affirmative fair housing marketing
from other projects in the area. Habitat would ensure that the homeowners’ initial housing costs (principal,
interest, insurance, taxes and homeowner association fees) will not exceed 30% of their income at the time of
purchase.
Given the small unit size, these households are likely to have small households of 1 to 4 people. This makes it
imperative to have a pricing and mortgage strategy that allows for a one income household to afford the
mortgage. We will accomplish this with either a zero interest mortgage from Habitat or an equivalent mortgage
from a local bank with a second, forgivable deferred mortgage from Habitat to make up the affordability gap.
This zero or zero equivalent mortgage lets the low income buyer build equity more quickly than a traditional
mortgage and keeps monthly housing costs low. Our focus on both reducing construction costs (through
volunteer labor and donations of materials and services) and on providing affordable financing makes us
uniquely qualified to help these low‐income first‐time homebuyers.
4. Developer experience with a list of completed same or similar projects
Pioneer Valley Habitat for Humanity builds throughout Hampshire and Franklin Counties. Since 1989, we have
built 39 homes including 18 in Northampton. The strong commitment of the city of Northampton, the
availability of jobs, excellent schools and transportation have made building affordable homes in Northampton a
priority for us. These 39 homes were all affordable homeownership opportunities similar to what is being
requested in the RFP.
Completed Projects
• New Construction of duplex condominium on Pinebrook Curve in Northampton
• New Construction of duplex condominium on Charles Lane in Amherst
Pioneer Valley Habitat for Humanity Burts Bog Proposal Page 5 of 8
• New construction of ranch house shell in Amherst (on Hampshire College campus) , then moved to Orange
and craned onto top of new ranch home shell constructed on a site in Orange – resulting in a new two unit
condominium in Orange.
• A single family home on Cahillane Terrace in Northampton
• Rehab of single family home on Old Town Road in Amherst
• Moved and rehabbed two family home from Federal Street to lot sitting between Vernon St & Forbes
Avenue; modified this 100+ year top over bottom 2 family home to a back to back duplex –each home with
its own front side on a different street
• New construction of single family home on West Pomeroy Street, Amherst
• New Construction of duplex condominium on Ryan Road in Northampton
• Rehab of existing duplex and new construction of duplex into a four‐unit condominium in Greenfield
• New construction of six‐unit (3 duplexes) condominium on Westhampton Road in Northampton (with septic
systems)
• New construction of four homes on Stanley Street, Amherst
• New construction of two single family homes in Turners Falls
• New construction of 5 Habitat homes on Garfield Ave in Florence in partnership with Smith Vocational High
School Construction Trades program; two zero lot line homes plus 3 single family detached homes
• New construction of single family home on Warner St in Montague
• New Construction of single family home on Belchertown Rd in Amherst
• New construction of zero lot line duplex in Easthampton
• New Construction of a duplex condominium on East Pleasant St in Amherst
Pioneer Valley Habitat for Humanity Burts Bog Proposal Page 6 of 8
Multi‐home developments
Stanley Street
In Amherst, Habitat completed a four‐unit project on Stanley Street. This project involved the construction of
four single family homes on a common drive. Habitat partnered with the town of Amherst through the Local
Initiative Program, and all four units are listed on the state affordable housing inventory. This project
demonstrated Habitat’s ability to partner with architects and experiment with modern designs that mimic classic
New England styles.
Garfield Ave
Habitat completed construction on a five‐unit project off of
Garfield Ave in Northampton that included 3 single family
detached homes and 2 attached single family homes. This
project was a subdivision requiring the installation of a few
hundred feet of new roadway, unlike the Burts Pit project
which only requires a common drive and not a road to
subdivision standards. Habitat demonstrated at the Garfield
Ave project our ability to incorporate green building
strategies and energy efficient construction in a compact
site.
5. Description of development team
Habitat combines the work of paid staff, consultants and volunteers to put together a top notch team with the
development experience needed to get the job done. Engagement of specific volunteers and consultants may
change but this is a description of volunteers and professionals who have worked on recent projects:
Megan McDonough, Executive Director
Megan McDonough joined the Pioneer Valley Habitat for Humanity Team in the spring of 2013 after working for
7 years at the Center for Eco‐Technology. She has a Masters in Planning from UMass Amherst and is a LEED
Pioneer Valley Habitat for Humanity Burts Bog Proposal Page 7 of 8
accredited professional with extensive knowledge of green building techniques. She provides overall leadership,
financial planning and oversight for all development projects.
David Bloomberg, Attorney
David has over a quarter century of experience in commercial and residential real estate matters, including
conveyances, leasing, for‐profit and non‐profit development projects, and commercial lending. His practice
focuses on a broad array of commercial and residential real estate transactions and general corporate
matters. He is actively involved in the representation of non‐profit developers of affordable housing, having
handled the closings for the creation or rehabilitation of over eight hundred affordable housing units. A
graduate of Northampton High School, David holds a bachelor's degree with honors from Yale University and
received his law degree from the University of Connecticut School of Law. A Life Fellow of the Massachusetts
Bar Foundation, David is admitted to the Massachusetts and Connecticut bars.
Michael Broad Construction Services
Michael Broad has been involved in the housing design and construction business since 1971 and has provided
related services to the Franklin County Housing Redevelopment Authority, HAPHousing, Inc. and Pioneer Valley
Habitat for Humanity. He has been involved as a Construction Manager for Habitat on projects such as:
Belchertown Road, Stanley Street and Garfield Avenue (phase 1, 2 & 3). His role is to ensure that the selected
housing designs are simple enough to utilize volunteer labor, develop the first draft specifications and budget,
manage the application for energy star rating and provide ongoing expert advice to the build team leaders.
Walt Kohler, Build Team
Walt Kohler has been the co‐leader with Charlie Klem of the Amherst Build Team responsible for building seven
Habitat homes in Amherst – two on East Pleasant Street, four on Stanley Street and one on Belchertown
Road. Walt also served six years on the Habitat Board of Directors and serves as chairman of the Building
Committee. Before retiring in 2007, Walt’s professional career included fifteen years as a professor of electrical
and computer engineering at the University of Massachusetts followed by twenty years of commuting to the
Boston area to work in the hi‐tech industry at Digital Equipment Corporation and EMC Corporation.
T Reynolds Engineering
T Reynolds Engineering is a civil engineering design, planning, and permitting service owned and operated by
Terry Reynolds. Terry provides full‐service civil and environmental engineering services along with general
environmental compliance services. He also regularly collaborates with other area professionals to offer
expanded services for projects requiring related expertise, such as environmental scientists, biologists, and
architects. As a licensed professional engineer (PE), he specializes in residential and commercial site design,
roadway design, storm water design and management, erosion and sediment control, sewer ‐ pressure and
gravity, water supply and distribution, permitting.
Smith Vocational and Agricultural High School
Habitat has partnered with Smith Vocational on many job sites. Smith students with expert guidance from their
instructors have cleared trees, completed electrical, plumbing and carpentry work. We look forward to
continuing this partnership on Burts Pit Road.
Pioneer Valley Habitat for Humanity Burts Bog Proposal Page 8 of 8
Attachments
1. Signed Submittal Information
2. LIP Deed Rider
3. Letter from DHCD on home size
1
I:\DeedRiderSAR-Massachusetts(Universal)
5/3016
LOCAL INITIATIVE PROGRAM
AFFORDABLE HOUSING DEED RIDER
For Projects in Which
Affordability Restrictions Survive Foreclosure
made part of that certain deed (the "Deed") of certain property (the “Property”) from
__________________________ ("Grantor") to ______________________ ("Owner")
dated ________________________, 200__. The Property is located in the City/Town of
_______________________________ (the “Municipality”).
RECITALS
WHEREAS, the Grantor is conveying that certain real property more particularly
described in the Deed to the Owner at a consideration which is less than the fair market value of
the Property; and
WHEREAS, the Property is part of a project which was: [check all that are applicable]
(i) granted a Comprehensive Permit under Massachusetts General Laws
Chapter 40B, Sections 20-23, from the Board of Appeals of the
Municipality or the Housing Appeals Committee and recorded/filed with
the _____________ County Registry of Deeds/Registry District of Land
Court (the “Registry”) in Book ______, Page ______/Document
No._________ (the “Comprehensive Permit”);
(ii) subject to a Regulatory Agreement among _______________ (the
“Developer”), [ ] Massachusetts Housing Finance Agency
(“MassHousing”), [ ] the Massachusetts Department of Housing and
Community Development] (“DHCD”) [ ] the Municipality; and [ ]
____________________, dated __________________ and recorded/filed
with the Registry in Book ____, Page ___/as Document No. ___________
(the “Regulatory Agreement”); and
(iii) √ subsidized by the federal or state government under the Local
Initiative Program, a program to assist construction of low or moderate
income housing the “Program”); and
WHEREAS, pursuant to the Program, eligible purchasers such as the Owner are given
the opportunity to purchase residential property at less than its fair market value if the purchaser
agrees to certain use and transfer restrictions, including an agreement to occupy the property as a
principal residence and to convey the property for an amount not greater than a maximum resale
price, all as more fully provided herein; and
2
WHEREAS, DHCD (singly, or if more than one entity is listed, collectively, the
“Monitoring Agent”) is obligated by the Program or has been retained to monitor compliance
with and to enforce the terms of this Deed Rider, and eligible purchasers such as the Owner may
be required to pay to the Monitoring Agent, or its successor, a small percentage of the resale
price upon the Owner’s conveyance of the Property, as set out in the Regulatory Agreement and
as more fully provided herein; and
WHEREAS, the rights and restrictions granted herein to the Monitoring Agent and the
Municipality serve the public’s interest in the creation and retention of affordable housing for
persons and households of low and moderate income and in the restricting of the resale price of
property in order to assure its affordability by future low and moderate income purchasers.
NOW, THEREFORE, as further consideration for the conveyance of the Property at less
than fair market value, the Grantor and the Owner, including his/her/their heirs, successors and
assigns, hereby agree that the Property shall be subject to the following rights and restrictions
which are imposed for the benefit of, and shall be enforceable by, the Municipality and the
Monitoring Agent, and, if DHCD is a party to the Regulatory Agreement and is not the
Monitoring Agent, by DHCD.
1. Definitions. In this Deed Rider, in addition to the terms defined above, the
following words and phrases shall have the following meanings:
Affordable Housing Fund means a fund established by the Municipality for the purpose of
reducing the cost of housing for Eligible Purchasers or for the purpose of encouraging, creating,
or subsidizing the construction or rehabilitation of housing for Eligible Purchasers or, if no such
fund exists, a fund established by the Municipality pursuant to Massachusetts General Laws
Chapter 44 Section 53A, et seq.
Applicable Foreclosure Price shall have the meaning set forth in Section 7(b) hereof.
Appropriate Size Household means a household containing a number of members equal to the
number of bedrooms in the Property plus one.
Approved Capital Improvements means the documented commercially reasonable cost of
extraordinary capital improvements made to the Property by the Owner; provided that the
Monitoring Agent shall have given written authorization for incurring such cost prior to the cost
being incurred and that the original cost of such improvements shall be discounted over the
course of their useful life.
Area means the Primary Metropolitan Statistical Area or non-metropolitan area that includes the
Municipality, as determined by HUD, which in this case is _____________________________.
3
Area Median Income means the most recently published median income for the Area adjusted
for household size as determined by HUD. If HUD discontinues publication of Area Median
Income, the income statistics used by MassHousing for its low and moderate income housing
programs shall apply.
Base Income Number means the Area Median Income for a four (4)-person household.
Chief Executive Officer shall mean the Mayor in a city or the Board of Selectmen in a town
unless some other municipal office is designated to be the chief executive officer under the
provisions of a local charter.
Closing shall have the meaning set forth in Section 5(b) hereof.
Compliance Certificate shall have the meaning set forth in Section 6(a) hereof.
Conveyance Notice shall have the meaning set forth in Section 4(a) hereof.
Eligible Purchaser means an individual or household earning no more than eighty percent (80%)
of Area Median Income (or, if checked [ ] _______________ percent (___%) of Area Median
Income, as required by the Program) and owning assets not in excess of the limit set forth in the
Program Guidelines. To be considered an Eligible Purchaser, the individual or household must
intend to occupy and thereafter must occupy the Property as his, her or their principal residence
and must provide to the Monitoring Agent such certifications as to income, assets and residency
as the Monitoring Agent may require to determine eligibility as an Eligible Purchaser. An
Eligible Purchaser shall be a First-Time Homebuyer if required by the Program and as specified
in the Regulatory Agreement.
First-Time Homebuyer means an individual or household, of which no household member has
had an ownership interest in a principal residence at any time during the three (3)-year period
prior to the date of qualification as an Eligible Purchaser, except that (i) any individual who is a
displaced homemaker (as may be defined by DHCD) (ii) and any individual age 55 or over
(applying for age 55 or over housing) shall not be excluded from consideration as a First-Time
Homebuyer under this definition on the basis that the individual, owned a home or had an
ownership interest in a principal residence at any time during the three (3)-year period.
Foreclosure Notice shall have the meaning set forth in Section 7(a) hereof.
HUD means the United States Department of Housing and Urban Development.
Ineligible Purchaser means an individual or household not meeting the requirements to be
eligible as an Eligible Purchaser.
Maximum Resale Price means the sum of (i) the Base Income Number (at the time of resale)
multiplied by the Resale Price Multiplier, plus (ii) the Resale Fee and any necessary marketing
4
expenses (including broker’s fees) as may have been approved by the Monitoring Agent, plus
(iii) Approved Capital Improvements, if any (the original cost of which shall have been
discounted over time, as calculated by the Monitoring Agent); provided that in no event shall the
Maximum Resale Price be greater than the purchase price for which a credit-worthy Eligible
Purchaser earning seventy percent (70%) of the Area Median Income (or, if checked [ ]
_______________ percent (___%) of Area Median Income, as required by the Program) for an
Appropriate Size Household could obtain mortgage financing (as such purchase price is
determined by the Monitoring Agent using the same methodology then used by DHCD for its
Local Initiative Program or similar comprehensive permit program); and further provided that
the Maximum Resale Price shall not be less than the purchase price paid for the Property by the
Owner unless the Owner agrees to accept a lesser price.
Monitoring Services Agreement means any Monitoring Services Agreement for monitoring and
enforcement of this Deed Rider among some or all of the Developer, the Monitoring Agent, the
Municipality, MassHousing and DHCD.
Mortgage Satisfaction Amount shall have the meaning set forth in Section 7(b) hereof.
Mortgagee shall have the meaning set forth in Section 7(a) hereof.
Program Guidelines means the regulations and/or guidelines issued for the applicable Program
and controlling its operations, as amended from time to time.
Resale Fee means a fee of 2% of the Base Income Number (at the time of resale) multiplied by
the Resale Price Multiplier, to be paid to the Monitoring Agent as compensation for monitoring
and enforcing compliance with the terms of this Deed Rider, including the supervision of the
resale process.
Resale Price Certificate means the certificate issued as may be specified in the Regulatory
Agreement and recorded with the first deed of the Property from the Developer, or the
subsequent certificate (if any) issued as may be specified in the Regulatory Agreement, which
sets forth the Resale Price Multiplier to be applied on the Owner’s sale of the Property, as
provided herein, for so long as the restrictions set forth herein continue. In the absence of
contrary specification in the Regulatory Agreement the Monitoring Agent shall issue the
certificate.
Resale Price Multiplier means the number calculated by dividing the Property’s initial sale price
by the Base Income Number at the time of the initial sale from the Developer to the first Eligible
Purchaser. The Resale Price Multiplier will be multiplied by the Base Income Number at the
time of the Owner’s resale of the Property to determine the Maximum Resale Price on such
conveyance subject to adjustment for the Resale Fee, marketing expenses and Approved Capital
Improvements. In the event that the purchase price paid for the Property by the Owner includes
such an adjustment a new Resale Price Multiplier will be recalculated by the Monitoring Agent
by dividing the purchase price so paid by the Base Income Number at the time of such purchase,
5
and a new Resale Price Certificate will be issued and recorded reflecting the new Resale Price
Multiplier. A Resale Price Multiplier of ______________is hereby assigned to the Property.
Term means in perpetuity, unless earlier terminated by (i) the termination of the term of
affordability set forth in the Regulatory Agreement or Comprehensive Permit, whichever is
longer; or (ii) the recording of a Compliance Certificate and a new Deed Rider executed by the
purchaser in form and substance substantially identical to this Deed Rider establishing a new
term.
2. Owner-Occupancy/Principal Residence. The Property shall be occupied and used
by the Owner’s household exclusively as his, her or their principal residence. Any use of the
Property or activity thereon which is inconsistent with such exclusive residential use is expressly
prohibited.
3. Restrictions Against Leasing, Refinancing and Junior Encumbrances. The
Property shall not be leased, rented, refinanced, encumbered (voluntarily or otherwise) or
mortgaged without the prior written consent of the Monitoring Agent; provided that this
provision shall not apply to a first mortgage granted on the date hereof in connection with this
conveyance from Grantor to Owner securing indebtedness not greater than one hundred percent
(100%) of the purchase price. Any rents, profits, or proceeds from any transaction described in
the preceding sentence which transaction has not received the requisite written consent of the
Monitoring Agent shall be paid upon demand by Owner to the Municipality for deposit to its
Affordable Housing Fund. The Monitoring Agent or Municipality may institute proceedings to
recover such rents, profits or proceeds, and costs of collection, including attorneys’ fees. Upon
recovery, after payment of costs, the balance shall be paid to the Municipality for deposit to its
Affordable Housing Fund. In the event that the Monitoring Agent consents for good cause to
any such lease, refinancing, encumbrance or mortgage, it shall be a condition to such consent
that all rents, profits or proceeds from such transaction, which exceed the actual carrying costs of
the Property as determined by the Monitoring Agent, shall be paid to the Municipality for deposit
to its Affordable Housing Fund.
4. Options to Purchase. (a) When the Owner or any successor in title to the Owner
shall desire to sell, dispose of or otherwise convey the Property, or any portion thereof, the
Owner shall notify the Monitoring Agent and the Municipality in writing of the Owner’s
intention to so convey the Property (the "Conveyance Notice"). Upon receipt of the Conveyance
Notice, the Monitoring Agent shall (i) calculate the Maximum Resale Price which the Owner
may receive on the sale of the Property based upon the Base Income Number in effect as of the
date of the Conveyance Notice and the Resale Price Multiplier set forth in the most recently
recorded Resale Price Certificate together with permissible adjustments for the Resale Fee,
marketing expenses and Approved Capital Improvements (as discounted), and (ii) promptly
begin marketing efforts. The Owner shall fully cooperate with the Monitoring Agent’s efforts to
locate an Eligible Purchaser and, if so requested by the Monitoring Agent, shall hire a broker
selected by the Monitoring Agent to assist in locating an Eligible Purchaser ready, willing and
able to purchase the Property at the Maximum Resale Price after entering a purchase and sale
6
agreement. Pursuant to such agreement, sale to the Eligible Purchaser at the Maximum Resale
Price shall occur within ninety (90) days after the Monitoring Agent receives the Conveyance
Notice or such further time as reasonably requested to arrange for details of closing. If the
Owner fails to cooperate in such resale efforts, including a failure to agree to reasonable terms in
the purchase and sale agreement, the Monitoring Agent may extend the 90-day period for a
period commensurate with the time the lack of cooperation continues, as determined by the
Monitoring Agent in its reasonable discretion. In such event, the Monitoring Agent shall give
Owner written notice of the lack of cooperation and the length of the extension added to the 90-
day period.
(b) The Monitoring Agent shall ensure that diligent marketing efforts are made to locate
an Eligible Purchaser ready, willing and able to purchase the Property at the Maximum Resale
Price within the time period provided in subsection (a) above and to enter the requisite purchase
and sale agreement. If more than one Eligible Purchaser is located, the Monitoring Agent shall
conduct a lottery or other like procedure to determine which Eligible Purchaser shall be entitled
to enter a purchase and sale agreement with Owner and to purchase the Property. Preference
shall be given to Appropriate Size Households. The procedure for marketing and selecting an
Eligible Purchaser shall be approved as provided in the Regulatory Agreement and any
applicable Program Guidelines. If an Eligible Purchaser is located within ninety (90) days after
receipt of the Conveyance Notice, but such Eligible Purchaser proves unable to secure mortgage
financing so as to be able to complete the purchase of the Property pursuant to the purchase and
sale agreement, following written notice to Owner within the 90-day period the Monitoring
Agent shall have an additional sixty (60) days to locate another Eligible Purchaser who will enter
a purchase and sale agreement and purchase the Property by the end of such sixty (60)-day
period or such further time as reasonably requested to carry out the purchase and sale agreement.
(c) In lieu of sale to an Eligible Purchaser, the Monitoring Agent or the Municipality or
designee shall also have the right to purchase the Property at the Maximum Resale Price, in
which event the purchase and sale agreement shall be entered, and the purchase shall occur
within ninety (90) days after receipt of the Conveyance Notice or, within the additional sixty
(60)-day period specified in subsection (b) above, or such further time as reasonably requested to
carry out the purchase and sale agreement. Any lack of cooperation by Owner in measures
reasonably necessary to effect the sale shall extend the 90-day period by the length of the delay
caused by such lack of cooperation. The Monitoring Agent shall promptly give Owner written
notice of the lack of cooperation and the length of the extension added to the 90-day period. In
the event of such a sale to the Monitoring Agent or Municipality or designee, the Property shall
remain subject to this Deed Rider and shall thereafter be sold or rented to an Eligible Purchaser
as may be more particularly set forth in the Regulatory Agreement.
(d) If an Eligible Purchaser fails to purchase the Property within the 90-day period (or
such further time determined as provided herein) after receipt of the Conveyance Notice, and the
Monitoring Agent or Municipality or designee does not purchase the Property during said period,
then the Owner may convey the Property to an Ineligible Purchaser no earlier than thirty (30)
days after the end of said period at the Maximum Resale Price, but subject to all rights and
7
restrictions contained herein; provided that the Property shall be conveyed subject to a Deed
Rider identical in form and substance to this Deed Rider which the Owner agrees to execute, to
secure execution by the Ineligible Purchaser and to record with the Deed; and further provided
that, if more than one Ineligible Purchaser is ready, willing and able to purchase the Property the
Owner will give preference and enter a purchase and sale agreement with any individuals or
households identified by the Monitoring Agent as an Appropriate Size Household earning more
than eighty percent (80%) but less than one hundred twenty percent (120%) of the Area Median
Income.
(e) The priority for exercising the options to purchase contained in this Section 4 shall be
as follows: (i) an Eligible Purchaser located and selected by the Monitoring Agent, as provided
in subsection (b) above, (ii) the Municipality or its designee, as provided in subsection (c) above,
and (iii) an Ineligible Purchaser, as provided in subsection (d) above.
(f) Nothing in this Deed Rider or the Regulatory Agreement constitutes a promise,
commitment or guarantee by DHCD, MassHousing, the Municipality or the Monitoring Agent
that upon resale the Owner shall actually receive the Maximum Resale Price for the Property or
any other price for the Property.
(g) The holder of a mortgage on the Property is not obligated to forbear from exercising
the rights and remedies under its mortgage, at law or in equity, after delivery of the Conveyance.
Notice.
5. Delivery of Deed. (a) In connection with any conveyance pursuant to an option to
purchase as set forth in Section 4 above, the Property shall be conveyed by the Owner to the
selected purchaser by a good and sufficient quitclaim deed conveying a good and clear record
and marketable title to the Property free from all encumbrances except (i) such taxes for the then
current year as are not due and payable on the date of delivery of the deed, (ii) any lien for
municipal betterments assessed after the date of the Conveyance Notice, (iii) provisions of local
building and zoning laws, (iv) all easements, restrictions, covenants and agreements of record
specified in the deed from the Owner to the selected purchaser, (v) such additional easements,
restrictions, covenants and agreements of record as the selected purchaser consents to, such
consent not to be unreasonably withheld or delayed, (vi) the Regulatory Agreement, and (vii),
except as otherwise provided in the Compliance Certificate, a Deed Rider identical in form and
substance to this Deed Rider which the Owner hereby agrees to execute, to secure execution by
the selected purchaser, and to record with the deed. Said deed shall clearly state that it is
made subject to the Deed Rider which is made part of the deed. Failure to comply with the
preceding sentence shall not affect the validity of the conveyance from the Owner to the selected
purchaser or the enforceability of the restrictions herein.
(b) Said deed, including the approved Deed Rider, shall be delivered and the purchase
price paid (the "Closing") at the Registry, or at the option of the selected purchaser, exercised by
written notice to the Owner at least five (5) days prior to the delivery of the deed, at such other
place as the selected purchaser may designate in said notice. The Closing shall occur at such
8
time and on such date as shall be specified in a written notice from the selected purchaser to the
Owner, which date shall be at least five (5) days after the date on which such notice is given, and
no later than the end of the time period specified in Section 4(a) above.
(c) To enable Owner to make conveyance as herein provided, Owner may, if Owner so
desires at the time of delivery of the deed, use the purchase money or any portion thereof to clear
the title of any or all encumbrances or interests, all instruments with respect thereto to be
recorded simultaneously with the delivery of said deed. Nothing contained herein as to the
Owner’s obligation to remove defects in title or to make conveyance or to deliver possession of
the Property in accordance with the terms hereof, as to use of proceeds to clear title or as to the
election of the selected purchaser to take title, nor anything else in this Deed Rider shall be
deemed to waive, impair or otherwise affect the priority of the rights herein over matters
appearing of record, or occurring, at any time after the recording of this Deed Rider, all such
matters so appearing or occurring being subject and subordinate in all events to the rights herein.
(d) Water and sewer charges and taxes for the then current tax period shall be
apportioned and fuel value shall be adjusted as of the date of Closing and the net amount thereof
shall be added to or deducted from, as the case may be, the purchase price payable by the
selected purchaser.
(e) Full possession of the Property free from all occupants is to be delivered at the time of
the Closing, the Property to be then in the same condition as it is in on the date of the execution
of the purchase and sale agreement, reasonable wear and tear only excepted.
(f) If Owner shall be unable to give title or to make conveyance as above required, or if
any change of condition in the Property not included in the above exception shall occur, then
Owner shall be given a reasonable time not to exceed thirty (30) days after the date on which the
Closing was to have occurred in which to remove any defect in title or to restore the Property to
the condition herein required. The Owner shall use best efforts to remove any such defects in the
title, whether voluntary or involuntary, and to restore the Property to the extent permitted by
insurance proceeds or condemnation award. The Closing shall occur fifteen (15) days after
notice by Owner that such defect has been cured or that the Property has been so restored. The
selected purchaser shall have the election, at either the original or any extended time for
performance, to accept such title as the Owner can deliver to the Property in its then condition
and to pay therefor the purchase price without deduction, in which case the Owner shall convey
such title, except that in the event of such conveyance in accordance with the provisions of this
clause, if the Property shall have been damaged by fire or casualty insured against or if a portion
of the Property shall have been taken by a public authority, then the Owner shall, unless the
Owner has previously restored the Property to its former condition, either:
(A) pay over or assign to the selected purchaser, on delivery of the deed, all
amounts recovered or recoverable on account of such insurance or condemnation
award less any amounts reasonably expended by the Owner for any partial
restoration, or
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(B) if a holder of a mortgage on the Property shall not permit the insurance
proceeds or the condemnation award or part thereof to be used to restore the
Property to its former condition or to be so paid over or assigned, give to the
selected purchaser a credit against the purchase price, on delivery of the deed,
equal to said amounts so retained by the holder of the said mortgage less any
amounts reasonably expended by the Owner for any partial restoration.
6. Resale and Transfer Restrictions. (a) Except as otherwise provided herein, the
Property or any interest therein shall not at any time be sold by the Owner, or the Owner’s
successors and assigns, and no attempted sale shall be valid, unless the aggregate value of all
consideration and payments of every kind given or paid by the selected purchaser of the Property
for and in connection with the transfer of such Property, is equal to or less than the Maximum
Resale Price for the Property, and unless a certificate (the "Compliance Certificate") is obtained
and recorded, signed and acknowledged by the Monitoring Agent which Compliance Certificate
refers to the Property, the Owner, the selected purchaser thereof, and the Maximum Resale Price
therefor, and states that the proposed conveyance, sale or transfer of the Property to the selected
purchaser is in compliance with the rights, restrictions, covenants and agreements contained in
this Deed Rider, and unless there is also recorded a new Deed Rider executed by the selected
purchaser, which new Deed Rider is identical in form and substance to this Deed Rider.
(b) The Owner, any good faith purchaser of the Property, any lender or other party taking
a security interest in such Property and any other third party may rely upon a Compliance
Certificate as conclusive evidence that the proposed conveyance, sale or transfer of the Property
to the selected purchaser is in compliance with the rights, restrictions, covenants and agreements
contained in this Deed Rider, and may record such Compliance Certificate in connection with the
conveyance of the Property.
(c) Within ten (10) days of the closing of the conveyance of the Property from the
Owner to the selected purchaser, the Owner shall deliver to the Monitoring Agent a copy of the
Deed of the Property, including the deed rider, together with recording information. Failure of
the Owner, or Owner’s successors or assigns to comply with the preceding sentence shall not
affect the validity of such conveyance or the enforceability of the restrictions herein.
7. Survival of Restrictions Upon Exercise of Remedies by Mortgagees. (a) The
holder of record of any mortgage on the Property (each, a “Mortgagee”) shall notify the
Monitoring Agent, the Municipality and any senior Mortgagee(s) in the event of any default for
which the Mortgagee intends to commence foreclosure proceedings or similar remedial action
pursuant to its mortgage (the “Foreclosure Notice”), which notice shall be sent to the Monitoring
Agent and the Municipality as set forth in this Deed Rider, and to the senior Mortgagee(s) as set
forth in such senior Mortgagee’s mortgage, not less than one hundred twenty (120) days prior to
the foreclosure sale or the acceptance of a deed in lieu of foreclosure. The Owner expressly
agrees to the delivery of the Foreclosure Notice and any other communications and disclosures
made by the Mortgagee pursuant to this Deed Rider.
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(b) The Owner grants to the Municipality or its designee the right and option to purchase
the Property upon receipt by the Municipality of the Foreclosure Notice. In the event that the
Municipality intends to exercise its option, the Municipality or its designee shall purchase the
Property within one hundred twenty (120) days of receipt of such notice, at a price equal to the
greater of (i) the sum of the outstanding principal balance of the note secured by such foreclosing
Mortgagee’s mortgage, together with the outstanding principal balance(s) of any note(s) secured
by mortgage(s) senior in priority to such mortgage (but in no event shall the aggregate amount
thereof be greater than one hundred percent (100%) of the Maximum Resale Price calculated at
the time of the granting of the mortgage) plus all future advances, accrued interest and all
reasonable costs and expenses which the foreclosing Mortgagee and any senior Mortgagee(s) are
entitled to recover pursuant to the terms of such mortgages (the “Mortgage Satisfaction
Amount”), and (ii) the Maximum Resale Price (which for this purpose may be less than the
purchase price paid for the Property by the Owner)(the greater of (i) and (ii) above herein
referred to as the “Applicable Foreclosure Price”). The Property shall be sold and conveyed in its
then-current “as is, where is” condition, without representation or warranty of any kind, direct or
indirect, express or implied, and with the benefit of and subject to all rights, rights of way,
restrictions, easements, covenants, liens, improvements, housing code violations, public
assessments, any and all unpaid federal or state taxes (subject to any rights of redemption for
unpaid federal taxes), municipal liens and any other encumbrances of record then in force and
applicable to the Property having priority over such foreclosing Mortgagee’s mortgage, and
further subject to a Deed Rider identical in form and substance to this Deed Rider which the
Owner hereby agrees to execute, to secure execution by the Municipality or its designee, and to
record with the deed, except that (i) during the term of ownership of the Property by the
Municipality or its designee the owner-occupancy requirements of Section 2 hereof shall not
apply (unless the designee is an Eligible Purchaser), and (ii) the Maximum Resale Price shall be
recalculated based on the price paid for the Property by the Municipality or its designee, but not
greater than the Applicable Foreclosure Price. Said deed shall clearly state that it is made
subject to the Deed Rider which is made part of the deed. Failure to comply with the
preceding sentence shall not affect the validity of the conveyance from the Owner to the
Municipality or its designee or the enforceability of the restrictions herein.
(c) Not earlier than one hundred twenty (120) days following the delivery of the
Foreclosure Notice to the Monitoring Agent, the Municipality and any senior Mortgagee(s)
pursuant to subsection (a) above, the foreclosing Mortgagee may conduct the foreclosure sale or
accept a deed in lieu of foreclosure. The Property shall be sold and conveyed in its then-current
“as is, where is” condition, without representation or warranty of any kind, direct or indirect,
express or implied, and with the benefit of and subject to all rights, rights of way, restrictions,
easements, covenants, liens, improvements, housing code violations, public assessments, any and
all unpaid federal or state taxes (subject to any rights of redemption for unpaid federal taxes),
municipal liens and any other encumbrances of record then in force and applicable to the
Property having priority over the foreclosing Mortgagee’s mortgage, and further subject to a
Deed Rider, as set forth below.
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(d) In the event that the foreclosing Mortgagee conducts a foreclosure sale or other
proceeding enforcing its rights under its mortgage and the Property is sold for a price in excess
of the greater of the Maximum Resale Price and the Mortgage Satisfaction Amount, such excess
shall be paid to the Municipality for its Affordable Housing Fund after (i) a final judicial
determination, or (ii) a written agreement of all parties who, as of such date hold (or have been
duly authorized to act for other parties who hold) a record interest in the Property, that the
Municipality is entitled to such excess. The legal costs of obtaining any such judicial
determination or agreement shall be deducted from the excess prior to payment to the
Municipality. To the extent that the Owner possesses any interest in any amount which would
otherwise be payable to the Municipality under this paragraph, to the fullest extent permissible
by law, the Owner hereby assigns its interest in such amount to the Mortgagee for payment to the
Municipality.
(e) If any Mortgagee shall acquire the Property by reason of foreclosure or upon
conveyance of the Property in lieu of foreclosure, then the rights and restrictions contained
herein shall apply to such Mortgagee upon such acquisition of the Property and to any purchaser
of the Property from such Mortgagee, and the Property shall be conveyed subject to a Deed
Rider identical in form and substance to this Deed Rider, which the Mortgagee that has so
acquired the Property agrees to annex to the deed and to record with the deed, except that (i)
during the term of ownership of the Property by such Mortgagee the owner-occupancy
requirements of Section 2 hereof shall not apply, and (ii) the Maximum Resale Price shall be
recalculated based on the price paid for the Property by such Mortgagee at the foreclosure sale,
but not greater than the Applicable Foreclosure Price. Said deed shall clearly state that it is
made subject to the Deed Rider which is made part of the deed. Failure to comply with the
preceding sentence shall not affect the validity of the conveyance to the Mortgagee or the
enforceability of the restrictions herein.
(f) If any party other than a Mortgagee shall acquire the Property by reason of foreclosure
or upon conveyance of the Property in lieu of foreclosure, the Property shall be conveyed subject
to a Deed Rider identical in form and substance to this Deed Rider, which the foreclosing
Mortgagee agrees to annex to the deed and to record with the deed, except that (i) if the
purchaser at such foreclosure sale or assignee of a deed in lieu of foreclosure is an Ineligible
Purchaser, then during the term of ownership of the Property by such Ineligible Purchaser, the
owner-occupancy requirements of Section 2 hereof shall not apply, and (ii) the Maximum Resale
Price shall be recalculated based on the price paid for the Property by such third party purchaser
at the foreclosure sale, but not greater than the Applicable Foreclosure Price. Said deed shall
clearly state that it is made subject to the Deed Rider which is made part of the deed.
Failure to comply with the preceding sentence shall not affect the validity of the conveyance to
such third party purchaser or the enforceability of the restrictions herein.
(g) Upon satisfaction of the requirements contained in this Section 7, the Monitoring
Agent shall issue a Compliance Certificate to the foreclosing Mortgagee which, upon recording
in the Registry, may be relied upon as provided in Section 6(b) hereof as conclusive evidence
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that the conveyance of the Property pursuant to this Section 7 is in compliance with the rights,
restrictions, covenants and agreements contained in this Deed Rider.
(h) The Owner understands and agrees that nothing in this Deed Rider or the Regulatory
Agreement (i) in any way constitutes a promise or guarantee by MassHousing, DHCD, the
Municipality or the Monitoring Agent that the Mortgagee shall actually receive the Mortgage
Satisfaction Amount, the Maximum Resale Price for the Property or any other price for the
Property, or (ii) impairs the rights and remedies of the Mortgagee in the event of a deficiency.
(i) If a Foreclosure Notice is delivered after the delivery of a Conveyance Notice as
provided in Section 4(a) hereof, the procedures set forth in this Section 7 shall supersede the
provisions of Section 4 hereof.
8. Covenants to Run With the Property. (a) This Deed Rider, including all
restrictions, rights and covenants contained herein, is an affordable housing restriction as that
term is defined in Section 31 of Chapter 184 of the Massachusetts General Laws, having the
benefit of Section 32 of such Chapter 184, and is enforceable as such. This Deed Rider has been
approved by the Director of DHCD.
(b) In confirmation thereof the Grantor and the Owner intend, declare and covenant (i)
that this Deed Rider, including all restrictions, rights and covenants contained herein, shall be
and are covenants running with the land, encumbering the Property for the Term, and are binding
upon the Owner and the Owner’s successors in title and assigns, (ii) are not merely personal
covenants of the Owner, and (iii) shall enure to the benefit of and be enforceable by the
Municipality, the Monitoring Agent and DHCD and their successors and assigns, for the Term.
Owner hereby agrees that any and all requirements of the laws of the Commonwealth of
Massachusetts have been satisfied in order for the provisions of this Deed Rider to constitute
restrictions and covenants running with the land and that any requirements of privity of estate
have been satisfied in full.
9. Notice. Any notices, demands or requests that may be given under this Deed
Rider shall be sufficiently served if given in writing and delivered by hand or mailed by certified
or registered mail, postage prepaid, return receipt requested, to the following entities and parties
in interest at the addresses set forth below, or such other addresses as may be specified by any
party (or its successor) by such notice.
Municipality:
Grantor:
Owner:
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Monitoring Agent[s]
(1) Director, Local Initiative Program
DHCD
100 Cambridge Street
Suite 300
Boston, MA 02114
(2)
Others:
Any such notice, demand or request shall be deemed to have been given on the day it is hand
delivered or mailed.
10. Further Assurances. The Owner agrees from time to time, as may be reasonably
required by the Monitoring Agent, to furnish the Monitoring Agent upon its request with a
written statement, signed and, if requested, acknowledged, setting forth the condition and
occupancy of the Property, information concerning the resale of the Property and other material
information pertaining to the Property and the Owner's conformance with the requirements of the
Comprehensive Permit, Program and Program Guidelines, as applicable.
11. Enforcement. (a) The rights hereby granted shall include the right of the
Municipality and the Monitoring Agent to enforce this Deed Rider independently by appropriate
legal proceedings and to obtain injunctive and other appropriate relief on account of any
violations including without limitation relief requiring restoration of the Property to the
condition, affordability or occupancy which existed prior to the violation impacting such
condition, affordability or occupancy (it being agreed that there shall be no adequate remedy at
law for such violation), and shall be in addition to, and not in limitation of, any other rights and
remedies available to the Municipality and the Monitoring Agent.
(b) Without limitation of any other rights or remedies of the Municipality and the
Monitoring Agent, or their successors and assigns, in the event of any sale, conveyance or other
transfer or occupancy of the Property in violation of the provisions of this Deed Rider, the
Municipality and Monitoring Agent shall be entitled to the following remedies, which shall be
cumulative and not mutually exclusive:
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(i) specific performance of the provisions of this Deed Rider;
(ii) money damages for charges in excess of the Maximum Resale Price, if
applicable;
(iii) if the violation is a sale of the Property to an Ineligible Purchaser except
as permitted herein, the Monitoring Agent and the Municipality shall have the
option to locate an Eligible Purchaser to purchase or itself purchase the Property
from the Ineligible Purchaser on the terms and conditions provided herein; the
purchase price shall be a price which complies with the provisions of this Deed
Rider; specific performance of the requirement that an Ineligible Purchaser shall
sell, as herein provided, may be judicially ordered.
(iv) the right to void any contract for sale or any sale, conveyance or other
transfer of the Property in violation of the provisions of this Deed Rider in the
absence of a Compliance Certificate, by an action in equity to enforce this Deed
Rider; and
(v) money damages for the cost of creating or obtaining a comparable
dwelling unit for an Eligible Purchaser.
(c) In addition to the foregoing, the Owner hereby agrees and shall be obligated to pay
all fees and expenses (including legal fees) of the Monitoring Agent and/or the Municipality in
the event successful enforcement action is taken against the Owner or Owner’s successors or
assigns. The Owner hereby grants to the Monitoring Agent and the Municipality a lien on the
Property, junior to the lien of any institutional holder of a first mortgage on the Property, to
secure payment of such fees and expenses in any successful enforcement action. The Monitoring
Agent and the Municipality shall be entitled to seek recovery of fees and expenses incurred in a
successful enforcement action of this Deed Rider against the Owner and to assert such a lien on
the Property to secure payment by the Owner of such fees and expenses. Notwithstanding
anything herein to the contrary, in the event that the Monitoring Agent and/or Municipality fails
to enforce this Deed Rider as provided in this Section, DHCD, if it is not named as Monitoring
Agent, shall have the same rights and standing to enforce this Deed Rider as the Municipality
and Monitoring Agent.
(d) The Owner for himself, herself or themselves and his, her or their successors and
assigns, hereby grants to the Monitoring Agent and the Municipality the right to take all actions
with respect to the Property which the Monitoring Agent or Municipality may determine to be
necessary or appropriate pursuant to applicable law, court order, or the consent of the Owner to
prevent, remedy or abate any violation of this Deed Rider.
12. Monitoring Agent Services; Fees. The Monitoring Agent shall monitor
compliance of the Project and enforce the requirements of this Deed Rider. As partial
compensation for providing these services, a Resale Fee [√] shall [ ] shall not be payable to the
Monitoring Agent on the sale of the Property to an Eligible Purchaser or any other purchaser in
15
accordance with the terms of this Deed Rider. This fee, if imposed, shall be paid by the Owner
herein as a closing cost at the time of Closing, and payment of the fee to the Monitoring Agent
shall be a condition to delivery and recording of its certificate, failing which the Monitoring
Agent shall have a claim against the new purchaser, his, her or their successors or assigns, for
which the Monitoring Agent may bring an action and may seek an attachment against the
Property.
13. Actions by Municipality. Any action required or allowed to be taken by the
Municipality hereunder shall be taken by the Municipality’s Chief Executive Officer or designee.
14. Severability. If any provisions hereof or the application thereof to any person or
circumstance are judicially determined, to any extent, to be invalid or unenforceable, the
remainder hereof, or the application of such provision to the persons or circumstances other than
those as to which it is held invalid or unenforceable, shall not be affected thereby.
15. Independent Counsel. THE OWNER ACKNOWLEDGES THAT HE, SHE, OR
THEY HAVE READ THIS DOCUMENT IN ITS ENTIRETY AND HAS HAD THE
OPPORTUNITY TO CONSULT LEGAL AND FINANCIAL ADVISORS OF HIS, HER OR
THEIR CHOOSING REGARDING THE EXECUTION, DELIVERY AND PERFORMANCE
OF THE OBLIGATIONS HEREUNDER.
16. Binding Agreement. This Deed Rider shall bind and inure to the benefit of the
persons, entities and parties named herein and their successors or assigns as are permitted by
this Deed Rider.
17. Amendment. This Deed Rider may not be rescinded, modified or amended, in
whole or in part, without the written consent of the Monitoring Agent, the Municipality and the
holder of any mortgage or other security instrument encumbering all or any portion of the
Property, which written consent shall be recorded with the Registry.
Executed as a sealed instrument this day of , 200 .
Grantor: Owner:
By By
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COMMONWEALTH OF MASSACHUSETTS
____________________ County, ss.
On this ____ day of _____________, 200__, before me, the undersigned notary public,
personally appeared ________________________________, the ____________ of
___________________ in its capacity as the _____________ of __________________, proved
to me through satisfactory evidence of identification, which was [a current driver’s license] [a
current U.S. passport] [my personal knowledge], to be the person whose name is signed on the
preceding instrument and acknowledged the foregoing instrument to be his or her free act and
deed and the free act and deed of ______________________ as ________________ of
_________________________.
____________________________________
Notary Public
My commission expires:
COMMONWEALTH OF MASSACHUSETTS
____________________ County, ss.
On this ____ day of _____________, 200__, before me, the undersigned notary public,
personally appeared ________________________________, the ____________ of
___________________ in its capacity as the _____________ of __________________, proved
to me through satisfactory evidence of identification, which was [a current driver’s license] [a
current U.S. passport] [my personal knowledge], to be the person whose name is signed on the
preceding instrument and acknowledged the foregoing instrument to be his or her free act and
deed and the free act and deed of ______________________ as ________________ of
_________________________.
____________________________________
Notary Public
My commission expires: