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G.), A <br /> Yeiee0VW10014Q <br /> Recording Requested by and when Recorded,return to: <br /> City of San Leandro ^o� <br /> 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 /> • <br /> EXEMPT FROM RECORDING FEES PER GOVERNMENT CODE <br /> §§6103,27383 <br /> (SPACE ABOVE THIS UNE RESERVED FOR RECORDER'S USE) <br /> RESALE RESTRICTIONS AND OPTION TO PURCHASE <br /> THERE ARE RESTRICTIONS ON THE SALE OF THE PROPERTY YOU ARE BUYING. EXCEPT FOR A TRANSFER TO THE <br /> CITY OF SAN LEANDRO(THE"CITY')FOLLOWING CITY'S EXERCISE OF ITS OPTION TO PURCHASE,THIS PROPERTY <br /> MAY ONLY BE SOLD TO AN ELIGIBLE HOUSEHOLD AT A PRICE NOT TO EXCEED THE ADJUSTED RESALE PRICE WHICH <br /> IS CAPPED AT AN AFFORDABLE HOUSING COST. <br /> This RESALE RESTRICTIONS AND OPTION TO PURCHASE(hereinafter'Agreement')is entered into as of this June 25, <br /> 22J by and between the CITY OF SAN LEANDRO(hereinafter'City)and Fatimatou Fall(hereinafter'Owner). <br /> RECITALS <br /> WHEREAS,Government Code Sections 65580 et seq.require the City to encourage the development and availability of <br /> affordable housing, and the City's Housing Element Goal 53 requires the inclusion of affordable housing in new housing <br /> developments both inside and outside the redevelopment project areas;and <br /> WHEREAS,the City has adopted an Inclusionary Zoning Ordinance pursuant to which the City conducts a program for the <br /> sale and rental of some housing units at a price below market rate('Program'),pursuant to which developers of residential housing <br /> developments agree to set aside a certain number of units for low-and moderate-income persons and families,as defined herein;and <br /> WHEREAS,Owner is a low-or moderate-income household qualified under the Program('Eligible Household'),intends to <br /> five in the Property as an owner occupant,and agrees to maintain the Property as Owner's principal residence;and <br /> WHEREAS,In order to maintain and preserve the Property,located at 680 Fargo Ave#15,San Leandro,CA 94579 as <br /> affordable housing,it is necessary to restrict the use and resale of the Property through imposition of the occupancy and resale <br /> restrictions set forth herein. These restrictions are intended to prevent initial and subsequent purchasers from using the Property for <br /> purposes incompatible with the Program and realizing unwarranted gains from sales of the Property at unrestricted prices. The terms <br /> and conditions of this Agreement are intended to provide the necessary occupancy and resale restrictions to ensure that the Property <br /> is used,maintained,and preserved as housing affordable to Eligible Households;and <br /> WHEREAS,The Property constitutes a valuable community resource by providing decent,safe,and sanitary housing to <br /> Eligible Households who otherwise would be unable to afford such housing. To protect and preserve this resource it is necessary, <br /> proper,and in the public interest for the City to administer the occupancy and resale controls by means of this Agreement. <br /> AGREEMENT <br /> WLFA15353011238347.1 1 June 28,2017 <br />