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Recording Requested by and After Recording Return To: REDEVELOPMENT AGENCY OF THE ff THE CITY OF SAN LEANDRO I fjl� City Clerk's Office 835 East 14th Street San Leandro, CA 94577 2001428359 11/01/200101:25 PM OFFICIAL RECORDS OF RECORDING FEE: 0.00 ALAMEDA COUNTY IPIIRIIIIIII G�'N�ELL IlAlllll11lllllllli�ll12 PG_ PROPERTY VALUE RESTRICTIONS, RESALE AGREEMENT AND OPTION TO PURCHASE This Resale Restriction Agreement and Option to Purchase (hereinafter "Agreement") is entered into as of this 6th day of August, 2001 by and between the REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO (herein "Agency"), and Jocelyn G. Yalung and Edwin Y. Mendoza (herein "Owner") RECITALS WHEREAS, the Community Redevelopry "fit Law requires the real property which is subject to this agreement to be made available to low and moderate income households; and WHEREAS, the intent of the Agency is to preserve the affordability of the homes for persons of low or moderate income for the life of the Redevelopment Project Area in which the home is located; and NOW, THEREFORE, in consideration of the benefits received by the Owner, Owner and Agency agree as follows: 1. Subject of Agreement. The real property which' is the subject of this Agreement is described as 418 Alvarado Street, San Leandro, California, more fully described in "Exhibit A" attached here and incorporated by this reference. Said real property ("Residence") is hereby designated as a Below -Market Rate (BMR) unit and shall be subject to the terms and conditions here set forth. 2. Warranty The Owner represents and warrants to the Agency that the financial and other information provided to the Agency by the Owner for the purpose of qualifying to purchase the Residence was true and correct at the time it was given and remains true and correct as of the date of this Agreement.