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Recording Qquested B, <br />ServiceLink <br />RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: <br />City Clerk's Office <br />City of San Leandro <br />835 East 14th Street <br />Sari -Leandro, CA 94577 <br />20 12 414 0 6 <br />i PATRICK .� <br />RL.OkljiNG r F "t <br />Space above this line for Recorder's use. <br />NOTICE OF AFFORDABILITY RESTRICTIONS ON <br />TRANSFER OF PROPERTY <br />THIS NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF <br />PROPERTY (this "Notice") is dated as of December 1, 2012 with reference to that <br />certain real property located at 580 Alvarado Street, San Leandro, CA 94577 in San <br />Leandro, California, known as County Assessor's Parcel No. 075-0209-058-00, and <br />more particularly described in Exhibit A attached hereto (the "Property"). <br />1. The City of San Leandro (the "City") and Xiu Lan Yang (the "Owner") have <br />entered into that certain Resale Agreement and Option to Purchase (the "Resale <br />Restriction Agreement") dated as of December 1, 2012 and recorded in the Official <br />Records of Alameda County substantially concurrently herewith. <br />2. The Resale Restriction Agreement requires the Property to be sold or otherwise <br />transferred only to eligible Moderate -Income households at a restricted resale price, and <br />requires payment to the City of sale proceeds in excess of the restricted price. In <br />addition, pursuant to the Resale Restriction Agreement, the Owner is required to notify <br />the City of any intended sale or transfer of the Property, and the City has an option to <br />purchase the Property upon receipt of such notice. The City also has an option to <br />purchase the Property upon the occurrence of certain defaults under the Resale <br />Restriction Agreement, including without limitation, the sale or other transfer of the <br />Property in violation of the Resale Restriction Agreement. <br />3. The restrictions set forth in the Resale Restriction Agreement will be in effect for <br />a period of forty-five (45) years, commencing on December 1, 2012, and terminating on <br />December 1, 2057. <br />This Notice is intended to provide notice of documents that affect title to the Property. <br />Reference should be made to the Resale Restriction Agreement for a more detailed <br />description of all matters described in this Notice. In the event of any conflict between <br />the terms of this Notice and the terms of the Resale Restriction Agreement, the Resale <br />Restriction Agreement shall prevail. <br />1061112-1 <br />