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RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: <br /> <br />City of San Leandro <br />835 East 14th Street <br />San Leandro, CA 94577 <br />Attn: City Manager <br /> <br />NO FEE FOR RECORDING PURSUANT TO <br />GOVERNMENT CODE SECTION 27383 <br />_____________________________________________________________________________________ <br /> <br /> <br />REGULATORY AGREEMENT <br /> <br />CITY OF SAN LEANDRO <br />HOME INVESTMENT PARTNERSHIPS ("HOME") PROGRAM <br />This Regulatory Agreement (this "Regulatory Agreement") is made as of this ____ day <br />of ___________, 2014, by and between the City of San Leandro, a California municipal <br />corporation (the "City") and Alameda Housing Associates, L.P., a California limited partnership <br />("Developer"). <br />RECITALS <br />A. Developer has the right to lease certain real property identified as Assessor's <br />Parcel No. 075-0039-007-05 in the City of San Leandro, County of Alameda, as more <br />particularly described on Exhibit A attached hereto and incorporated herein by reference. As <br />used in this Agreement, the "Property" shall mean Developer's leasehold interest in the property <br />described in Exhibit A. Developer will develop one hundred fifteen (115) multifamily <br />residential units on the Property (the "Development"). <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 Six Hundred Fifty Thousand Dollars ($650,000) (the "Loan") <br />to assist Developer in the construction of the Development in accordance with the terms and <br />conditions set forth in that certain HOME Program Loan Agreement dated as of July 24, 2012 <br />and amended on ________, 2014 and executed by and between City and Developer (the "Loan <br />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 <br />and in 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 eleven (11) of the residential units in the Development ("Assisted <br />Units") to ensure that such units are occupied by eligible households at affordable rents as <br />1 <br />144\221\1488729.2