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Inst 2006062523
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Inst 2006062523
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Last modified
3/27/2007 4:27:58 PM
Creation date
3/27/2007 4:27:54 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
1/26/2006
Recorded Document Type
Inclusionary Housing Agreement
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PERM
Document Relationships
Inst 2007094801
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2007
Inst 2007094802
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2007
Inst 2007096245
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2007
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<br />r,,- ~ .. <br /> <br />4.0 Covenants to Run with the Land. <br /> <br />4.1 Covenants, Reservations, Restrictions. Developer hereby subjects an affordable <br />unit to the covenants, reservations and restrictions set forth in this Agreement and the Resale <br />Restrictions, a true and correct copy of which is attached hereto as Exhibit C and the terms of <br />which are incorporated herein by this reference. City and the Developer hereby declare their <br />express intent that all such covenants, reservations and restrictions shall be deemed covenants <br />running with the land and shall pass to and be binding upon the Developer's successors in title to <br />an affordable unit. All covenants without regard to technical classification or designation shall be <br />binding for the benefit of City, and such covenants shall run in favor of City for the entire term of <br />this Agreement. Each and every contract, deed or other instrument hereafter executed covering or <br />conveying an affordable unit or any portion thereof shall conclusively be held to have been <br />executed, delivered and accepted subject to such covenants, reservations and restrictions set forth <br />in this Agreement, regardless of whether such covenants, reservations and restrictions are set forth <br />in such contract, deed or other instrument. <br /> <br />4.2 Attorneys' Fees. In the event that a party to this Agreement brings an action <br />against the other party hereto by reason of the breach of any condition or covenant, representation <br />or warranty in this Agreement, or otherwise arising out of this Agreement, the prevailing party in <br />such action shall be entitled to recover costs of suit, including reasonable attorney's fees, as may <br />be fixed by the court rendering judgment. Attomey's fees shall include attorney's fees on any <br />appeal. <br /> <br />4.3 Amendments. This Agreement shall be amended only by a written instrument <br />executed by the parties hereto or their successor in title, and duly recorded in the real property <br />records of the County of Alameda, California. <br /> <br />5.0 Future Enforcement by City. <br /> <br />The parties hereby agree that City shall have the right to enforce all of the terms and <br />conditions herein. <br /> <br />6.0 General Provisions. <br /> <br />6.1 Modification. No modification to this Agreement shall be binding upon any party <br />unless such modification is in writing and is signed by the party to be bound. <br /> <br />6.2 Successors and Assigns. This Agreement shall be binding upon and inure to the <br />benefit of Developer and City and each of their respective successors and assigns. <br /> <br />6.3 Goveminq Law. This Agreement shall be governed by and construed in <br />accordance with the laws of the State of California. <br /> <br />6.4 Severability. If any provision of this Agreement, or application therefore to any <br />person or circumstance, shall to any extent be determined to be invalid, then such provision shall <br />be modified, if possible, to fulfill the intent of the parties as reflected in the original provision. The <br />remainder of this Agreement, or the application of such provision to persons or circumstances <br /> <br />Page 4 of 26 <br />
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