DORC 14th and Callan Street Owner

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Consumers, San Francisco -Oakland -Hayward, CA Area, All Items less food and energy, 1982-1984=100, as published by the United States Bureau of Labor Statistics of the United States Department of Labor. The Owner shall pay such charge within thirty (30) business days of receipt of an invoice from the City. The City Manager may waive or defer a portion of this monitoring fee. 4. Term of Agreement. 4.1 Term of Restrictions. This Agreement shall remain in effect through the fifty- fifth (55th) anniversary of the date upon which the City issues a final certificate of occupancy or equivalent for the Project. If such date cannot be ascertained, the Term of this Agreement shall end on the fifty -seventy (57th) anniversary of the Effective Date of this Agreement. 4.2 Effectiveness Succeeds Conveyance of Property and Repayment of Loan. This Agreement shall remain effective and fully binding for the full term hereof regardless of any sale, assignment, transfer, or conveyance of the Property or the Project or any part thereof or interest therein. 4.3 Reconveyance. Upon the termination of this Agreement, the Parties agree to execute and record appropriate instruments to release and discharge the terms of this Agreement; provided, however, the execution and recordation of such instruments shall not be necessary or a prerequisite to the termination of this Agreement in accordance with its terms. 4.4 Notice of Expiration of Term. Owner shall comply with the requirements set forth in California Government Code Sections 65 863. 10 and 65863.11, and any other applicable law existing at the time of expiration of the Term. Such notice requirements include: (i) a twelve (12) month notice to existing tenants, prospective tenants and Affected Public Agencies (as defined in California Government Code Section 65863.10(a)) prior to the expiration of the Term and (ii) a six (6) month notice requirement to existing tenants, prospective tenants and Affected Public Agencies prior to the expiration of the Term. 5. Binding Upon Successors; Covenants to Run with the Land. 5.1 Owner hereby subjects its interest in the Property and the Project to the covenants and restrictions set forth in this Agreement. The City and Owner hereby declare their express intent that the covenants and restrictions set forth herein shall be deemed covenants running with the land and shall be binding upon and inure to the benefit of the heirs, administrators, executors, successors in interest, transferees, and assigns of Owner and City, regardless of any sale, assignment, conveyance or transfer of the Property, the Project or any part thereof or interest therein. Any successor -in -interest to Owner, including without limitation any purchaser, transferee or lessee of the Property or the Project (other than the tenants of the individual dwelling units within the Project) shall be subject to all of the duties and obligations imposed hereby for the full term of this Agreement. Affordable Housing Regulatory Agreement - Centro Callan November 28, 2022