Laserfiche WebLink
First American Title <br /> ^CORDING REQUESTED BY <br /> :ST AMERICA NI TIT! oa %``a 2 014050688 02/18/2014 08:30 Aft <br /> c <br /> OFFICIAL RECORDS OF ALAMEDA COUNTY <br /> 0110- - JlDuSQ PARE OR O'COFEE: <br /> V -7 U(�'.i .7 C�[IROp�`* RECORDING FEE: 0.00 <br /> RECORDING REQUESTED BY <br /> II I I III I II III um I II <br /> AND WHEN RECORDED MAI L TO: <br /> 16 PGS <br /> City of San Leandro <br /> 835 East 14t Street ��5 <br /> San Leandro, CA 94577 v" <br /> Attn: City Manager <br /> \NI) <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 1\ihday of <br /> 2014, by and between the City of San Leandro,a California charter city(the"City") <br /> and Hello ousing, 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(I)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 Page 1 <br />