Morris Rent Agreement

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AGREEEMENT

Regarding Free or Reduced Rent for Life for Julie and Russ Morris

This agreement is entered into as of the ___ day of ____________August, 2004, by and between Thistle Community Housing (“Thistle”) andMapleton LLC, a Colorado limited liability company (“Mapleton”), the City of Boulder Colorado (“City”) and Julie Morris and Russ Morris, currently resident managers of the Property.

This agreement applies to the property commonly known as Mapleton Mobile Home Park, located at 2635 Mapleton Avenue, Boulder, Colorado  80302 (“Property”).

The parties agree as follows:

1.  The City is transferring ownership of the Property to Mapleton and has provided grant funding to ThistleMapleton for the purposes of maintaining a permanently affordable mobile home park, with park residents involved in the management of the park.

2.  In recognition of the years of service provided to the Mapleton and Branding Iron Mobile Home Parks by Julie and Russ Morris, the City of Boulder agreed to and ThistleMapleton agrees to provide free space rental for Julie and Russ Morris personally at Mapleton Mobile Home Park for as long as either of them lives a resident manager of the Property, and continues to reside in the Park.  The Agreement to provide free rent shall terminate thirty (30) days after the earliest of the following to occur: (a) the vacation or abandonment of the Property by the Morris’s; (b) Julie or Russ Morris no longer acting as resident managers of the Property; or (c) the death of the later of Julie or Russ Morris.  This Agreement shall not be assignable or transferable, and is personal to and for the benefit only of Julie and Russ Morris.  If either or both of the Morris’s continue to live on the Property after the period of free rent ends, their rent shall be set at the lowest tier level for affordability as provided in the Affordability Covenants affecting the Property.

3.  This agreement shall be binding to Thistle upon Mapleton as the Property owner, the City, the Morris’s and their respective legal representatives, successors in interest, and assignees.  The City shall obtain the signature of Julie and Russ Morris agreeing to the terms of this Agreement prior to closing on the purchase of the Property.

In witness whereof, Thistle Mapleton has executed this Agreement as of the date first stated above.

______________________________________                     ______________________

By: President, Board of Directors                                                                                       Date

Thistle Community Housing

Title: _____________________

STATE OF COLORADO             )

                                                ) ss.

COUNTY OF BOULDER            )

The foregoing instrument was acknowledged before me on this _____ day of ___________, 2004 by [name of person signing] as President of the Board of Directors for Thistle Community Housing.______________________  as _____________ of Mapleton LLC, a Colorado limited liability company.

Witness my hand and official seal

My commission expires:___________________

(Notary Public Seal)        

City of Boulder, Colorado

________________________________

Frank W. Bruno, City Manager

Attest:

________________________________

City Clerk on behalf of the

Director of Finance and Records

JULIE MORRIS

________________________________

RUSS MORRIS

________________________________

STATE OF COLORADO             )

                                                ) ss.

COUNTY OF BOULDER            )

The foregoing instrument was acknowledged before me on this _____ day of ___________, 2004 by Julie Morris and Russ Morris.

Witness my hand and official seal

My commission expires:___________________

(Notary Public Seal)        

City of Boulder, Colorado

Document comparison done by DeltaView on Tuesday, July 20, 2004 11:11:17 AM

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