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, > <br /> M • <br /> Section 2. That the deed of conveyance to DMCOC shall contain a restrictive covenant <br /> requiring the property conveyed to be used exclusively by a not for profit entity and only for the <br /> purpose of assisting low and moderate income families for a period of five (5) years from the <br /> date of said conveyance. <br /> Section 3. That the Mayor and City Clerk be, and they are hereby, authorized and <br /> directed to sign and seal, on behalf of the City, a deed of conveyance to the property described <br /> herein, restricted as set forth above, and that the City Manager be, and he is hereby, authorized <br /> and directed to deliver to DMCOC said deed, upon receipt from DMCOC of the purchase price <br /> of One Thousand Dollars($1,000.00). <br /> Section 4. That for a period of not more than one(1)year from the date of this resolution, <br /> the City will reimburse DMCOC for costs incurred in the repair of the building located on the <br /> property authorized to be conveyed hereby, in an amount not to exceed Eight Thousand Dollars <br /> ($8,000.00), provided that the plans and specifications for such repair are approved by the <br /> Director of Public Works before the same is commenced. <br /> Section 5. That upon the conveyance authorized hereby, and excepting only the <br /> obligation set out in Section 4 hereof, all agreements and other obligations between the City and I <br /> DMCOC regarding said property, including the lease thereof, shall be terminated. , <br /> PRESENTED AND ADOPTED this 26th day of April, 1999. <br /> �---��' <br /> TE <br /> MAYOR <br /> ATTEST: <br /> /� - <br /> ���2'�� � ` ��'�� <br /> CITY CLERK � <br />