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MEMORANDUM OF OWNER PARTICIPATION AGREEMENT <br /> Recording Requested by <br /> and when Recorded, return to: 't . <br /> Redevelopment Agency of the ° ; ., 2011023349 01/18/2011 11:36 AM <br /> City of S an Leandro .f4. OFFICIAL RECORDS OF ALAIIEDA COUNTY <br /> y � j PATRICK O'CONNELL <br /> 835 East le Street e. s` RECORDING FEE: 0.00 <br /> San Leandro, CA 94577 — <br /> Attn: Executive Director I <br /> GOVERNMENT § §6N 3, 27383 ER 11h 7 III I I I I II 5 PGS <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 / h d , 20 /O, is entered into by and between the <br /> Redevelopment Agency of the City of San Leandro, a public agency ( "Agency "), and Ruby <br /> Lee Gooby Trust ( "Owner "). Agency and Owner are hereinafter collectively referred to as <br /> the "Parties." <br /> 1. Consistent with California Community Redevelopment Law (Health & Safety Code <br /> Section 33000 et seq.) and the Redevelopment Plan for the West San Leandro - MacArthur <br /> Boulevard Redevelopment Project Area ( "Project Area "), the Parties have entered into that <br /> certain Owner Participation and Loan Agreement dated as of the date hereof (the "OPA "), <br /> pursuant to which Owner has agreed to undertake certain improvements to the real <br /> property (the "Property") located within the Project Area and more particularly described in <br /> Exhibit A attached hereto and incorporated herein by this 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 /> 1172395 -3 <br /> Commercial Rehabilitation Loan Program <br /> Owner Participation and Loan Agreement <br />