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<br />RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: <br /> <br />City of San Leandro <br />835 East 14th Street <br />San Leandro, CA 94577 <br />Attn: City Manager <br /> <br />EXEMPT FROM RECORDING FEES PER <br />GOVERNMENT CODE §§6103, 27383 <br /> <br />Space above this line for Recorder's use. <br /> <br />NOTICE OF AFFORDABILITY RESTRICTIONS ON <br />TRANSFER OF PROPERTY <br /> <br /> THIS NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF <br />PROPERTY (this "Notice") is dated as of December 1, 2014 with reference to that <br />certain real property located in the City of San Leandro and more particularly described <br />in Exhibit A attached hereto (the "Property"). <br />1. The City of San Leandro, a California charter city ("City") and Alameda Housing <br />Associates, L.P., a California limited partnership ("Owner") have entered into that <br />certain Affordable Housing Regulatory Agreement and Declaration of Restrictive <br />Covenants (the "Regulatory Agreement") dated as of the date hereof and recorded in <br />the Official Records of Alameda County substantially concurrently herewith. <br />2. The Regulatory Agreement requires not less than fifty-five (55) of the residential <br />units developed on the Property to be rented at affordable rents to households who <br />qualify as Very Low-Income and not less than an additional fifty-eight (58) of the <br />residential units developed on the Property to be rented at affordable rents to <br />households whose income is less than or equal to ninety percent (90%) of Area Median <br />Income, as more particularly set forth in the Regulatory Agreement. <br />3. The restrictions set forth in the Regulatory Agreement will be in effect for a period <br />of fifty-five (55) years, commencing on the date of issuance of a final certificate of <br />occupancy for the Project unless the term is extended by mutual agreement of the City <br />and Owner. <br />This Notice is intended to provide notice of documents that affect title to the Property. <br />Reference should be made to the Regulatory Agreement for a more detailed description <br />of all matters described in this Notice. In the event of any conflict between the terms of <br />this Notice and the terms of the Regulatory Agreement, the Regulatory Agreement shall <br />prevail. <br /> <br />144\221\1596777.2