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Inst 2007334384
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Inst 2007334384
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Last modified
5/13/2010 12:39:50 PM
Creation date
10/15/2007 3:10:57 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
10/9/2007
Recorded Document Type
Regulatory Agreement
Retention
PERM
Document Relationships
Agmt 2007 Estabrook Senior Housing LP etc
(Reference)
Path:
\City Clerk\City Council\Agreements\2007
Inst 2009067181
(Amended by)
Path:
\City Clerk\City Council\Recorded Documents\2009
Inst 2009195594
(Amended by)
Path:
\City Clerk\City Council\Recorded Documents\2009
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to enter upon the Property and perform all acts and work necessary to protect, <br />maintain, and preserve the improvements and the landscaped areas on the Property. <br />Ail costs expended by Agency and/or City in connection with the foregoing, shall <br />constitute an indebtedness secured by the Agency Deed of Trust and/or City Deed of <br />Trust, and shall be paid by Owner to Agency and/or City upon demand. All such sums <br />remaining unpaid thirty (30) days following delivery of Agency's and/or City's invoice <br />therefor shall bear interest at the rate of 10% per annum. <br />6.4 Marketing and Management Plan. Not later than six (6) months <br />following issuance of building permits for the Project, Owner shall submit for Agency <br />and City review and approval, a plan for marketing and managing the Property <br />("Marketing and Management Plan"). The Marketing and Management Plan shall <br />address in detail how Owner plans to market the Restricted Units to prospective Eligible <br />Households in accordance with fair housing laws and this Agreement, Owner's tenant <br />selection criteria, and how Owner plans to certify the eligibility of Eligible Households. In <br />renting Restricted Units, Owner shall give first preference to residents of the City of San <br />Leandro, City or school district employees, and persons employed in the City of San <br />Leandro unless compliance with the foregoing criteria is prohibited by law or by Project <br />financing sources. The Plan shall also describe the management team and shall <br />address how the Owner and the management entity plan to manage and maintain the <br />Property and the Project. The Plan shall include the proposed management <br />agreement and the form of rental agreement that Owner proposes to enter into with <br />Project tenants. Owner shall abide by the terms of the Marketing and Management Plan <br />in marketing, managing, and maintaining the Property and the Project, and throughout <br />the term of this Agreement, shall submit proposed modifications to Agency and City for <br />their review and approval. <br />6.5 Approval of Amendments. If Agency and/or City have not responded to <br />any submission of the Management and Marketing Plan, the proposed management <br />entity, or a proposed amendment or change to any of the foregoing within 30 days <br />following Agency's and/or City's receipt of such plan, proposal or amendment, the plan, <br />proposal or amendment shall be deemed approved by Agency and/or City. <br />6.6 Fees, Taxes, and Other Levies. Owner shall be responsible for payment of <br />all fees, assessments, taxes, charges, liens and levies, including without limitation <br />possessory interest taxes, if applicable, imposed by any public entity, authority or utility <br />company with respect to the Property or the Project, and shall pay such charges prior to <br />delinquency. However, Owner shall not be required to pay any such charge so long as <br />(a) Owner is contesting such charge in good faith and by appropriate proceedings, (b) <br />Owner maintains reserves adequate to pay any contested liabilities, and (c) on final <br />determination of the proceeding or contest, Owner immediately pays or discharges any <br />decision or judgment rendered against it, together with all costs, charges and interest. <br />Nothing in this Section 6.6 shall prevent Owner from applying for all applicable tax <br />exemptions including the welfare exemption from property tax for low-income housing. <br />6.7 Insurance Coverage. Prior to issuance of building permits for the Project, <br />956619-4 1 1 <br />
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