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Recorded at the Request of <br /> Old Republic Tale Company- <br /> . Oakland or"<.v <br /> 2014298538 12/05/2014 12:01 PM <br /> I t{ ('y`?{ / I, OFFICIAL RECORDS OF ALAMEDA COUNTY <br /> " , ' PATRICK O'CONNELL <br /> • <br /> RECORDING FEE: 0.00 <br /> RECORDING REQUESTED BY °44,soso" <br /> AND WHEN RECORDED MAIL TO: <br /> III I III I III 1111 II III I I II 14 PGS <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 I� <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 23 day <br /> of September , 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 ' that certain HOME Program Loan Agreement dated as of July 24, 2012 <br /> and amended on °t 12' , 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 /> 144\221\1488729.2 <br />