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RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: <br />City of San Leandro <br />835 East 14th Street <br />San Leandro, CA 94577 <br />Attn: City Manager <br />NO FEE FOR RECORDING PURSUANT TO <br />GOVERNMENT CODE SECTION 27383 <br />APN: 75-0167-010-00 <br />REGULATORY AGREEMENT <br />CITY OF SAN LEANDRO <br />HOME INVESTMENT PARTNERSHIPS ("HOME") PROGRAM <br />This Regulatory Agreement (this "Regulatory Agreement") is made as of this day of <br />, 2014, by and between the City of San Leandro, a California charter city (the "City") <br />and Hello Housing, a California nonprofit public benefit Corporation ("Developer"). <br />RECITALS <br />A. Developer owns or has the right to acquire certain real property located at 324 Lille <br />Avenue, identified as Assessor's Parcel No. 75-0167-010-00 in the City of San Leandro, County of <br />Alameda, as more particularly described on Exhibit A attached hereto and incorporated herein by <br />this reference (the "Property"). Developer will develop one (1) single-family residential unit on the <br />Property (the "Development"), which will be rented at affordable rent to a household that qualifies <br />as Very -Low Income (defined below). <br />B. Developer has applied to the City for, and the City has agreed to provide to <br />Developer, a loan in the amount of One Hundred Thousand Dollars ($100,000) (the "Loan") to <br />assist Developer in the construction of the Development in accordance with the terms and conditions <br />set forth in that certain HOME Program Loan Agreement dated as of the date hereof and executed by <br />and between City and Developer (the "Loan Agreement"). <br />C. The Loan will be provided by the City under the HOME Investment Partnerships <br />Program (the "HOME Program") administered by the City pursuant to federal regulations <br />governing the HOME Program (42 U.S.C. 12741 et seq. and 24 CFR Part 92, all as amended and in <br />effect from time to time). <br />D. As a condition to the Loan, the City requires Developer to execute this Regulatory <br />Agreement which will restrict the Development ("Assisted Unit") to ensure that the Development is <br />occupied by an eligible household at an affordable rent as described herein for the term of this <br />Regulatory Agreement. The Development will be rented at affordable rent to a household who <br />qualifies as a Very -Low Income Household. <br />2220342.1 Pagel <br />