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.' , ' EXHIBIT C RESALE RESTRICTIONS AND OPTION TO PURCHASE Recording Requested by and when Recorded, return to: City of San Leandro Mail Tax Statements to: City of San Leandro City of San Leandro 835 E. 14th Street San Leandro, California 94577 Attn: Community Development Director EXEMPT FROM RECORDING FEES PER GOVERNMENT CODE 6103,27383 (SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE) RESALE AGREEMENT AND OPTION TO PURCHASE THERE ARE RESTRICTIONS ON THE SALE OF THE PROPERTY YOU ARE BUYING. EXCEPT FOR A TRANSFER TO THE CITY OF SAN LEANDRO (THE "CITY") FOLLOWING CITY'S EXERCISE OF ITS OPTION TO PURCHASE, THIS PROPERTY MAY ONLY BE SOLD TO AN "ELIGIBLE HOUSEHOLD" AT A PRICE NOT TO EXCEED THE ADJUSTED RESALE PRICE WHICH IS CAPPED AT AN "AFFORDABLE HOUSING COST," This RESALE RESTRICTION AGREEMENT AND OPTION TO PURCHASE (hereinafter "Agreement") is entered into as of this ,2005, by and between the CITY OF SAN LEANDRO (hereinafter "City") and (hereinafter "Owner"). RECITALS WHEREAS, Government Code Sections 65580 et seq. require the City to encourage the development and availability of affordable housing, and the City's Housing Element Goal 53 requires the inclusion of affordable housing in new housing developments both inside and outside the redevelopment project areas; and WHEREAS, the City has adopted an Inclusionary Zoning Ordinance pursuant to which the City conducts a program for the sale and rental of some housing units at a price below market rate ("Program"), pursuant to which developers of residential housing developments agree to set aside a certain number of units for very low., low., and moderate.income persons and families, as defined herein; and WHEREAS, Owner is an eligible rchoose one: low- or moderate-l income purchaser under the Program, intends to live in the Property as an owner occupant, and agrees to maintain the Property as Owner's principal residence; and Page 11 of 27