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~ ~ ~ i ~ ~ i RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: ~~r O` 4`9'4 ~~ ~ n 2009238642 07/24/2009 01; 51 PM PATRICKLORCONNELLOF ALAMEDA COUNTY C4lipOgM~* RECORDING FEE: 21.00 Redevelopment Agency of the City of San Leandro 835 East 14~' Street San Leandro, CA 94577 5 PGs Attn: Community Development Director -- - - - -. ~~. Space above this line for Recorder's use. NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY THIS NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY (this "Notice") is dated as of June 16, 2009 with reference to that certain real property at 112 Garcia Avenue in the City of San Leandro ("City"), State of California, and more particularly described in Exhibit A attached hereto (the "Property"). 1. The Redevelopment Agency of the City of San Leandro, a public body, corporate, and politic ("Agency"), the City of San Leandro, a public body, corporate and politic ("City") and Alameda County Allied Housing Program, a California non-profit public benefit corporation ("Owner") have entered into that certain Amended and Restated Affordable Housing Regulatory Agreement and Declaration of Restrictive Covenants (the "Regulatory Agreement") dated as of June 16, 2009 and recorded in the Official Records of Alameda County substantially concurrently herewith. 2. The Regulatory Agreement requires not less than seven (7) of the residential units developed on the Property to be rented at affordable rents to households who qualify as Extremely Low-Income, not less than an sixteen (16) of the residential units developed on the Property to be rented at affordable rents to households who qualify as Very Low-Income, and not less than two (2) of the residential units developed on the Property to be rented at affordable rents to households who qualify as Low-Income, as more particularly set forth in the Regulatory Agreement. 3. The restrictions set forth in the Regulatory Agreement will be in effect for a period of fifty-five (55) years, commencing on the Effective Date of this Notice unless the term is extended by mutual agreement of the Agency, City and Owner. This Notice is intended to provide notice of documents that affect title to the Property. Reference should be made to the Regulatory Agreement for a more detailed description of all matters described in this Notice. In the event of any conflict between the terms of this Notice and the terms of the Regulatory Agreement, the Regulatory Agreement shall prevail. AMENDED AND RESTATED REGULATORY AGREEMENT 2 ~ MISSION BELL APARTMENTS 1227466-8