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" - Recording Requested by and when Recorded, return to: City of San Leandro Mail Tax Statements to: City of San Leandro t ~ 111111111111 11111 1111111111111111111111111111111111111111111 34 PGS 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) INCLUSIONARY HOUSING AGREEMENT - SALE UNITS THIS INCLUSIONARY HOUSING AGREEMENT (the "Agreement") is made this 15th day of November 2006, by and between Willows Farqo, Inc, ("Developer"), and the CITY OF SAN LEANDRO ("City"). RECITALS WHEREAS, Developer is the owner of certain real property (Assessor's Parcel # 80G- 1287.1.2) located within the City of San Leandro, California (the "Property"). Developer is also the Developer of a 122 unit condominium conversion of the existing Willows Townhouse Apartments, of which 18 units will be made affordable to eligible low and moderate income homebuyers, referred to as The Willows (the "Development"), and has received a planning approval and/or tentative map approval ("PLN#2006.00031 and Tract #7791") from the City and will execute the Agreement prior to the recordation of a Final Subdivision Map (the "Map") or issuance of a building permit (the "Permit") as determined by the City for the development of the Development within the City of San Leandro; and WHEREAS, Developer, by the Inclusionary Housing Plan and the PLN#2006.00031 and Tract #7791, has offered to restrict a total of eighteen (18) for-sale housing units to be made available to low- and/or moderate-income households as follows in satisfaction of the City's inclusionary housing mandates set forth in the San Leandro Zoning Code Part VI, Section 30: seven (7) low-income and eleven (11) moderate.income units. The 3 bedroom/2.5 bathroom affordable units will be approximately 1,180 square feet and the 2 bedroom/1.5 bathroom units will be approximately 840 square feet to 920 square feet. City desires to accept the restriction of the dedicated affordable housing units as shown in the Inclusionary Housing Plan and on PLN#2006.00031 and Tract #7791 for the development as Affordable Housing Units (the "Affordable Units") described in this Agreement. A map showing the planned units to be located within the Development is attached hereto as Exhibit A and incorporated herein by this reference and a phasing plan attached hereto as Exhibit AA and incorporated herein by this reference; and