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<br />Declaration of Restrictive Covenants <br />Homekey Program (Round 3) <br />NOFA: 3/29/2023 <br />Owner: City of San Leandro and Housing Consortium of the East Bay <br />Project: 555 Lewelling <br />Approved Date: July 8, 2024 <br />Prep: October 1, 2024 <br />Page 6 of 13 <br />as the right but not the obligation to approve disbursements of <br />insurance or condemnation proceeds for rebuilding under a <br />construction escrow or similar arrangement. <br /> <br />7. Covenants Run with the Land. The Property is held and hereafter shall <br />be held, conveyed, hypothecated, encumbered, leased, rented, used and <br />occupied subject to these Covenants. The foregoing Covenants are intended to <br />constitute both equitable servitudes and covenants running with the land. Owner <br />expressly acknowledges and agrees that the Covenants are reasonable restraints <br />on the Owner’s right to own, use, maintain, and transfer the Property and any <br />estate or interest therein and are not and shall not be construed to be an <br />unreasonable restraint on alienation. Each and every contract, deed or other <br />instrument hereafter executed covering or conveying the Property, or any portion <br />thereof, shall be held conclusively to have been executed, delivered and accepted <br />subject to such Covenants, regardless of whether such Covenants are set forth in <br />such contract, deed, or other instrument. <br /> <br />8. Binding Effect. Any purchaser of the Property or of any portion of or <br />interest in the Property, by the acceptance of a deed therefore, whether from the <br />Owner or from any subsequent owner of the Property, or by the signing of a <br />contract or agreement to purchase the Property, shall by the acceptance of such <br />deed or by the signing of such contract or agreement be deemed to have <br />consented to and accepted the Covenants set forth in this Declaration. <br /> <br />9. Term of Declaration. The Covenants in this Declaration shall be binding, <br />effective, and enforceable commencing upon the execution of this Declaration, and <br />they shall continue in full force and effect for a period of not less than thirty (30) <br />years after a certificate of occupancy or its equivalent has been issued for the <br />Interim Housing by the local jurisdiction or, if no such certificate is issued, from the <br />date of initial occupancy of the Interim Housing, regardless of any sale, <br />assignment, transfer, or conveyance (including, without limitation, by foreclosure <br />sale) of the Property or any portion thereof. <br /> <br />10. Default, Remedies. A default under this Declaration or the Standard <br />Agreement shall entitle the Department to any rights, remedies, or damages <br />available at law or in equity, including, but not limited to, those that are specified <br />below. The Department’s failure to exercise any specific right or remedy shall not <br />be construed as a waiver of that or any right or remedy. <br /> <br /> a. Specific Performance. The use, repair, and maintenance of the <br />Property in support of the Interim Housing is of a special and unique kind and <br />character, so that a breach of any material provision of this Declaration by the <br />Owner would not have an adequate remedy at law. Therefore, the Department’s <br />Docusign Envelope ID: 917058E9-A7D0-495A-B516-E1C59F7309B8