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Inst 2011023351
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Inst 2011023351
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Last modified
3/10/2011 1:15:08 PM
Creation date
3/10/2011 1:15:07 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date ‎(6)‎
6/28/2010
Recorded Document Type
Loan Agreement
OPA
Retention
PERM
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or 4< <br /> r. " 2011023351 01/18/2011 11:36 RIM <br /> e ! r <br /> . OFFICIRL RECORDS OF ALAIIEDA COUNTY <br /> PATRICK O'CONNELL <br /> Recording Requested by <br /> d, to: <br /> '4< „ RECORDING FEE: 0.00 <br /> and when Recorded, return 35 St n4 e a <br /> C II I I I II I III II I I II <br /> City of Ef San ° L eandro Agency of the <br /> %-\ PGS <br /> San Leandro, CA 94577 ,A_ C-12 Attn: Executive Director FFY/r <br /> EXEMPT FROM RECORDING FEES PER <br /> I' <br /> GOVERNMENT CODE § §61O3, 27383 1 <br /> (SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE) <br /> MEMORANDUM OF OWNER PARTICIPATION AND LOAN AGREEMENT <br /> This Memorandum of Owner Participation and Loan Agreement (this <br /> "Memorandum ") dated as of r„e ; fe , 2010, is entered into by and between the <br /> Redevelopment Agency of the City of San Leandro, a public agency ( "Agency "), and <br /> Victor Siu ( "Owner "). Agency and Owner are hereinafter collectively referred to as the <br /> "Parties." <br /> 1. Consistent with California Community Redevelopment Law (Health & Safety Code <br /> Section 33000 et seq.) and the Redevelopment Plan for the Plaza Project Area ( "Project <br /> Area "), the Parties have entered into that certain Owner Participation and Loan Agreement <br /> dated as of the date hereof (the "OPA "), pursuant to which Owner has agreed to undertake <br /> certain improvements to the real property (the "Property") located within the Project Area <br /> and more particularly described in Exhibit A attached hereto and incorporated herein by this <br /> reference. <br /> 2. Among other conditions, the OPA provides that (i) except as permitted by the OPA, <br /> Owner shall not voluntarily or involuntarily make or attempt any total or partial sale, transfer, <br /> conveyance, assignment or lease of the whole or any part of the Property or the <br /> improvements located thereon without the prior written approval of the Agency; and (ii) any <br /> transferee of all or part of the Property shall be subject to and shall expressly assume all of <br /> the covenants, obligations and restrictions of the OPA which pertain to the portion of the <br /> Property transferred, including without limitation, the maintenance obligations and use <br /> restrictions set forth in the OPA. <br /> 3. The Parties have executed and recorded this instrument to give notice of the OPA <br /> and the Regulatory Agreement, and the respective rights of the Parties thereunder. Copies <br /> of the unrecorded OPA are available at the offices of the Agency, 835 East 14 Street, San <br /> Leandro, California, and such document is incorporated by reference in its entirety in this <br /> Memorandum. In the event of any inconsistency between this Memorandum and the OPA, <br /> the OPA shall control. <br /> 5. This Memorandum shall be interpreted and enforced in accordance with California <br /> law without regard to principles of conflict of laws. <br /> 1172237 -2 <br />
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