(a) Requisites of instrument. If the application for a density bonus is approved, an affordable housing instrument must be executed and filed in accordance with this section on a form provided by the city. The instrument must:
(1) be signed by all owners of the lot(s) affected;
(2) be signed by all lienholders, other than taxing entities, that have either an interest in the lot(s) affected or an improvement on one or more of those lot(s);
(3) contain a lot and block description of the lot(s) on which the SAH unit(s) will be located;
(4) specify the number of the SAH units;
(5) be a covenant running with the land;
(6) state that all signatories agree to defend, indemnify, and hold harmless the city of Dallas from and against all claims or liabilities arising out of or in connection with the instrument;
(7) state that it may only be amended or terminated by a subsequent written instrument that is:
(A) signed by the owner(s) of the lot(s) affected by the affordable housing instrument and by all lienholders, other than taxing entities, that have an interest in lot(s) or an improvement on the lot(s);
(B) approved by the director of housing and neighborhood services;
(C) approved as to form by the city attorney; and
(D) filed and made a part of the deed records of the county or counties in which the lots are located;
(8) state that the owner agrees to comply with all the requirements of this division, including the submission of an annual report and full cooperation with audits of the affordable housing program conducted by the city;
(9) state that it may be enforced by the city of Dallas;
(10) state that it shall be governed by the laws of the State of Texas; and
(11) be approved by the director of housing and neighborhood services and approved as to form by city attorney.
(b) Instrument must be filed. A true and correct copy of the approved affordable housing instrument must be filed in the deed records of the county or counties in which the lots affected are located. The instrument shall not be considered effective until it is filed in the deed records in accordance with this section. After the instrument is filed in the deed records, two file-marked copies of the instrument must be filed with the director of housing and neighborhood services.
(c) Termination or amendment of instrument. A recorded affordable housing instrument may be terminated or amended to reduce the number of SAH units on a lot if a corresponding number of SAH units are provided on one or more other lots. An instrument terminating or amending a recorded affordable housing instrument must be:
(1) signed by the owner of the lot(s) affected by the affordable housing instrument and by all lienholders, other than taxing entities, that have an interest in the lot(s) or of an improvement on the lot(s);
(2) approved by the director of housing and neighborhood services as to compliance with this division;
(3) approved as to form by the city attorney; and
(4) filed and made a part of the deed records of the county or counties in which the lot(s) are located by the owner of the lot(s).
The director of housing and neighborhood services shall not approve a termination or amendment that would cause the total number of SAH units to be reduced below the number required under this division, or that would otherwise cause this division to be violated. (Ord. 21663)