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‘THE ENCLAVE COVENANT RESTRICTING RESALE AND OPTION TO PURCHASE AND ASSIGNMENT OF RENTS This COVENANT RESTRICTING RESALE AND OPTION TO PURCHASE AND ASSIGNMENT OF RENTS (the "Covenant*) is entered into and made effective as of this day of __October_, 2014, by _ Maria Pilar Calleja (“Owners”) and their Successors and assigns in interest for the purpose of implementing the City's goal of creating, preserving, maintaining and protecting housing inthe City of Issaquah ("City") for households of Jow and moderate incomes. ‘The cooperation ofthe City Property tobe soldat les than to afford the Property. The City’ availability ofthe Property to low et price to households who would not otherwise be able to establish resale controls to provide forthe continued te income households. Owner, this Covenant shall govern and affect the dispose of in any way the Owners interest in the real property described in Exhibit A and incorporated herein by this reference ( Property’). os ‘Owner expressly acknowledges that this Covenant dieses a numberof issues related tothe purchase and resale ofthe Property including ince that: (a) the Property must be In consideration ofthe benefits rece ‘Owners’ right to sell, convey, encumber, ‘occupied as the Buyers principal residence [1.1]; (b) Sthe time of purchase, the combined ‘maximum income forall household members cannot ex 9 ofthe Seattle Metropolitan Statistical Area (MSA) (King County) median income (adjested for houschold size), unless ‘modified by the City [1.4]; and (c) the resale price ofthe Property will be based on the initial price, plus an appreciation factor, plus the value of certain improvements, less deferred ‘maintenance, if any [42.1283] SECTION 1. ELIGIBILITY REQUIREMENTS. ‘An Owner must meet the following requirements and by acceptance of a deed or otherwise ‘acquiring an interest in the Property hereby warrants as follows: 1.1. Principat Residence. Owner will ocupy the Property as his orhe principal residence for the term of this Covenant, unless Owner is otherwise approved by the City’s Planning Director or their designee (‘Director’) to lease the Property pursuant to Section 1.2. The Owner shall be ‘considered as occupying the Property as a principal place of residence ifthe Owner is living on the Property for atleast ten (10) months out of etch calendar year. In the event the Property is vacant while being actively offered for sale by Owner, this owner-occupancy requirement shall ‘THE ENCLAVE OWNER'S ASSUMPTION AGREEMENT TO COVENANT RESTRICTING RESALE AND OPTION TO PURCHASE Reference is made to that certain Covenant Restricting Resale and Option to Purchase ("Covenant") centered into and made effective as ofthe 31" day of _May_, 2006 , by _ Ashley Fenton ‘(*Owners") and its successors and assigns in interest forthe purpose of implementing the Citys goal of creating, preserving, maintaining and protecting housing in the City of Issaquah (*City") for households of low and moderate incomes, ¢ Said Covenant govers and: Owners' right to sell, convey, encumber, transferor dispose of in any way the Owners interest if tie real property described in Exhibit A attached hereto and incorporated herein by this reference (Property). DP ‘The undersigned Owner has or intends to'icuire an interest in the Property. Pursuant to Section 3.2.1 and Section saFnpa Covenant, and in order to obtain the City's spor oft Ownesqung ach nee GA per, sd Over (on bebal of id Over and said Owner’ heirs, successors and assigns) hereby assumes the obligations and duties and agrees ‘toe bound by the provisions set forth in said as provided in Exhibit B attached hereto and herein incorporated by reference. In the event of conflict between the Covenant and Exhibit B, Exhibit B will control. 4. > ‘This Assumption Agreement made effective as ofthe _20/ day of _Oclober__, 2014, by Maria Pilar Calleja_ Owner(s) supersedes the prior Assumption Agreement made effective ss ofthe SIF_ day of _May_, _2006-, by _Ashley Fenton (“Owners”) Dated as ofthe ZO day of eT. _, 2014. OWNER: Pilar Caffgja

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