Covenants and deeds of trust.

Denver Revised Municipal Code § 27-111

in effect

Sec. 27-111. - Covenants and deeds of trust. (a) The applicant shall execute and pay the recording fees for HOST to record with the clerk and recorder for the City and County of Denver a completed covenant and, if applicable, a performance deed of trust or a lien on the MPDU property, which shall comply with the provisions in the rules and regulations promulgated hereunder. Partnerships, associations or corporations shall not evade this article through voluntary dissolution. (b) The covenants, performance deeds of trust, and liens shall each at a minimum contain the information that the property value and that use and resale are restricted and shall set forth the control period, the maximum purchase price calculation, the eligibility requirements, penalties for violation, and any other restriction provided herein or in the rules and regulations adopted hereunder. The covenants, performance deeds of trust, and liens shall also include provisions which govern the first resale within ten (10) years after the end of the control period ("final MPDU sale") as set forth in section 27-112. (c) The director may waive the covenant restrictions and, if applicable, the performance deed of trust requirements or the lien requirements on the resale prices for MPDUs if the director finds that the restrictions conflict with regulations of federal or state housing programs and thus prevent eligible households from buying dwelling units under the MPDU program. Any waiver shall be in writing and signed by the director, shall reference the recorded covenant and, if applicable, performance deed of trust or the lien, or both, and shall be recorded in the records of the clerk and recorder for the City and County of Denver, Colorado. (d) At the time of conveyance, all grantors of MPDUs shall require the grantee to execute a memorandum of acceptance which states that the conveyed property is a MPDU and is subject to the restrictions contained in the covenants and, if applicable, performance deeds of trust or the lien required under this article during the control period. (e) The director may require certain owners of MPDUs who are out of compliance with the covenant required in this section to execute a performance deed of trust in favor of the city that addresses recapture of noncompliant periods of affordability. The director shall release the performance deed of trust upon a finding that all requirements of the performance deed of trust have been satisfied. (f) The director shall release the covenants and, if applicable, performance deeds of trust or lien, or both, upon a finding that all amounts due the city's special revenue fund have been received and all other provisions of the covenant have been satisfied. (Ord. No. 617-02, § 1, 8-5-02; Ord. No. 654-02, § 5, 8-12-02; Ord. No. 710-06, § 8, 10-30-06; Ord. No. 305-13, § 8, 6-24-13; Ord. No. 975-18, § 1, 10-22-18; Ord. No. 47-20, § 16, 3-16-20)

Source: City and County of Denver, Revised Municipal Code and Charter (Municode Library, library.municode.com)URL: https://library.municode.com/co/denver/codes/code_of_ordinances?nodeId=TITIIREMUCO_CH27HO_ARTIVAFHO_S27-111CODETRFetched: 10/27/2026