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s <br />cfc/ n�I.35l60 !(o��i <br />Recording Requested by <br />and when Recorded, return to: <br />City of San Leandro <br />Mail Tax Statements to: <br />City of San Leandro <br />City of San Leandro <br />835 E. 14th Street <br />San Leandro, California 94577 <br />Attn: Community Development Director <br />EXEMPT FROM RECORDING FEES PER GOVERNMENT CODE <br />"6103,27383 <br />A P N : 0778-1228-004-00 <br />r "�a 2016236419 09/16/2016 08:30 AM <br />OFFICIAL RECORDS OF ALAMEDA COUNTY <br />STEVE MANNING <br />C�L�sOpN�* RECORDING FEE: 0.00 <br />111111111111111111111111 18 PGS <br />(SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE) <br />RESALE AGREEMENT AND OPTION TO PURCHASE <br />THERE ARE RESTRICTIONS ON THE SALE OF THE PROPERTY YOU ARE BUYING. EXCEPT FOR A <br />TRANSFER TO THE CITY OF SAN LEANDRO (THE "CITY") FOLLOWING CITY'S EXERCISE OF ITS <br />OPTION TO PURCHASE, THIS PROPERTY MAY ONLY BE SOLD TO AN ELIGIBLE HOUSEHOLD AT A <br />PRICE NOT TO EXCEED THE ADJUSTED RESALE PRICE WHICH IS CAPPED AT AN AFFORDABLE <br />HOUSING COST. <br />This RESALE RESTRICTION AGREEMENT AND OPTION TO PURCHASE (hereinafter <br />"Agreement") is entered into as of this 9h day of September, 2016, by and between the CITY OF SAN <br />LEANDRO (hereinafter "City") and Yongshi Guan, King Wal Sze, Hui Qiang Guan, and Mei Zhen Lu <br />(hereinafter "Owner"). <br />RECITALS <br />WHEREAS, Government Code Sections 65580 et seq. require the City to encourage the <br />development and availability of affordable housing, and the City's Housing Element Goal 53 requires the <br />inclusion of affordable housing in new housing developments both inside and outside the redevelopment <br />project areas; and <br />WHEREAS, the City has adopted an Inclusionary Zoning Ordinance pursuant to which the City <br />conducts a program for the sale and rental of some housing units at a price below market rate ("Program"), <br />pursuant to which developers of residential housing developments agree to set aside a certain number of <br />units for low- and moderate -income persons and families, as defined herein; and <br />WHEREAS, Owner is a moderate -income household qualified under the Program ("Eligible <br />Household"), intends to live in the Property as an owner occupant, and agrees to maintain the Property as <br />Owner's principal residence; and <br />WHEREAS, In order to maintain and preserve the Property located at 597 Jasmine Way, San <br />Leandro CA 94578 as affordable housing, it is necessary to restrict the use and resale of the Property <br />through imposition of the occupancy and resale restrictions set forth herein. These restrictions are <br />