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• <br /> ,•••°`, <br /> ,5 ?- ,,c 2010251563 08/31/2010 10:16 P11 <br /> i' • OFFICIAL RECORDS OF ALAIIEDA COUNTY <br /> < - "+ PATRICK O'CONNELL <br /> Recording requested by and when „ooto RECORDING FEE: 0.00 <br /> recorded mail to: <br /> City of E. Leandro <br /> II I I III I III II I I II I II II II 10 Pcs <br /> 835 E. 14 4 Street <br /> San Leandro, CA 94577 <br /> • <br /> Attn: Community Development Director <br /> EXEMPT FROM RECORDING FEES PER <br /> GOVERNMENT CODE 4 §6103, 27383 <br /> (Space Above This Line For Recorder's Use Only) <br /> FIRST AMENDMENT TO INCLUSIONARY HOUSING AGREEMENT <br /> THIS FIRST AMENDMENT TO INCLUSIONARY HOUSING AGREEMENT <br /> (this "Amendment ") is entered into effective as of August 1, 2010 (the "Effective Date ") <br /> by and between the City of San Leandro, a municipal corporation ( "City ") and Cherry <br /> Glen Properties, LLC, a California limited liability company ( "Developer "). Capitalized <br /> terms used without definition herein shall have the meaning ascribed to such terms in <br /> the Original Agreement (defined below). City and Developer are collectively referred to <br /> herein as the "Parties." <br /> RECITALS <br /> A. Developer is the owner of certain real property located in the City of San <br /> Leandro, County of Alameda, and more particularly described in Exhibit A <br /> attached hereto and incorporated herein by reference (the "Property "). <br /> B. Pursuant to San Leandro Zoning Code, Article 30 (the "Inclusionary Housing <br /> Ordinance "), the City and Washington /Springlake Properties, LLC <br /> ( "Springlake ") entered into that certain Inclusionary Housing Agreement — Sale <br /> Units conceming development of the Property, dated as of January 10, 2006 (the <br /> "Original Agreement "). The Original Agreement was recorded in the Official <br /> Records of Alameda on February 7, 2006 as Instrument No. 2006048074. <br /> Developer is the successor in interest to Springlake with respect to the Property. <br /> The Original Agreement as modified by this Amendment is referred to herein as <br /> the "Agreement." <br /> C. Pursuant to the Original Agreement, Springlake agreed to sell two (2) of the <br /> homes to be developed on the Property to households of low- income, and to sell <br /> an additional four (4) homes to be developed on the Property to households of <br /> moderate - income (all of the foregoing, collectively, the "Affordable Units "). The <br /> Original Agreement requires a Resale Restriction Agreement and a Deed of <br /> Trust to be recorded against each of the Affordable Units in order to ensure <br /> the continued affordability of the Affordable Units. <br /> 1486489.4 1 <br />