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SAN LEANDRO ADMINi3.t nATIVE CODE <br />TITLE 26 REDEVELOPMENT AGENCY <br />Chapter 2 Rules and Regulations-1981 Residential Mortzage Revenue Bonds <br />Bonds, as originally adopted by the Agency or as it may from time to time be supplemented, <br />modified or amended. <br />426.2.180: RULES AND REGULATIONS. "Rules and Regulations" means these rules <br />and regulations implementing the Program as adopted by the Agency on April 2, 1981, pursuant <br />to Resolution No. 81-17, as they may be amended from time to time. <br />426.2.185: TRUSTEE. "Trustee" means the Trustee appointed by the Agency pursuant to <br />Section 8.01 of the Resolution (being at the time of adoption of the R eselutio ` r-eeke ,.Ta* <br />Bank, in San F -aneisee, Galife^ a), or its successor for the time being as Trustee under Section <br />8.01 of the Resolution. <br />ARTICLE 2—STANDARDS <br />W.2.200: CONSTRUCTION STANDARDS. The construction of any property to be <br />financed by a Mortgage Loan shall be undertaken and completed in compliance with these Rules <br />and Regulations, the Redevelopment Plan, Local Codes and the Owner Participation Agreement. <br />426.2.205: NONDISCRIMINATION IN SALE OR RENTAL. Any Property financed by <br />a Mortgage Loan shall be available for sale or open for rental to all, regardless of race, sex, <br />marital status, color, religion, national origin or ancestry. <br />426.2.210: NONDISCRIMINATION IN EMPLOYMENT. All contractors and <br />subcontractors engaged in the construction of Property to be financed by a Mortgage Loan shall <br />provide equal opportunity for employment, without discrimination as to race, sex, marital status, <br />color, religion, national origin or ancestry. All contracts and subcontracts for such construction <br />shall be let without discrimination as to race, sex, marital status, color, religion, national origin or <br />ancestry. It is the express policy of the Agency to encourage participation by minority <br />contractors in such construction. <br />ARTICLE 3—MORTGAGE LOANS <br />§26.2.300: MORTGAGE LOANS. No Mortgage Loan shall exceed ninety-five percent <br />(95%) of the purchase price or ninety-five percent (95%) of the appraised value of the Property, <br />whichever is less. <br />426.2.305: RESERVATION OF PROPERTIES FOR RESIDENT HOMEOWNERS. <br />For a period of not to exceed six (6) months after the commencement of the sale of Property <br />pursuant to the Program, there shall be reserved for purchase by Resident Homebuyers thirty-five <br />Department Responsible for Revision: Redevelopment Agency Chapter 26.2 <br />2006 Page 3 <br />