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f", it" 1 ~ , .. ,i 200604,~-07r----- -eii0712006 -131: 17 Prl------- OFFIcIAL R~CORDS - PATRICK O'CONNELLUF ALAMEDA COUNTY RECORDING FEE' . 0,00 - . Recording Requested by and when Recorded, return to: City of San Leandro Mail Tax Statements to: City of San Leandro 1IIIIIIIIIIIIIml1l111 IIU/Uri/lflliitlWi " PC, en' { OF SAN LEANDRO ;1 f.r" FEB 1 6 2006 City of San Leandro 835 E. 14th Street San Leandro, California 94577 Attn: Community Development Director EXEMPT FROM RECORDING FEES PER GOVERNMENT CODE 6103, 27383 E (SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE) INCLUSIONARY HOUSING AGREEMENT - SALE UNITS THIS INCLUSIONARY HOUSING AGREEMENT (the "Agreement") is made this 10th day of January, 2006, by and between WASHINGTON/SPRINGLAKE PROPERTIES, LLC ("Developer"), and the CITY OF SAN LEANDRO ("City"). RECITALS WHEREAS, Developer is the owner of certain real property (Assessor's Parcel Nos. 778-1120-1-1,778-1120-4, 77b-1120-5, and 778-1120-6) located within the City of San Leandro, California (the "Property"). Developer is also the Developer of a 43-unit for sale residential development, of which six (6) units will be made affordable to eligible low and moderate income homebuyers, referred to as Cherry Glen ("the Development"), has received a planning approval and/or tentative map approval ["PLN 2004-00101 and Tract 7579"] from the City, and will execute the Agreement prior to the recordation of a Final Subdivision Map ("the Map") or issuance of a building permit (the "Permit) as determined by the City for the development of the Development within the City of San Leandro; and WHEREAS, Developer, by PLN 2004-00101 and Tract 7579, has offered to restrict a total of six (6) for-sale housing units to be made available to low- and moderate-income households as follows in satisfaction of the City's inclusionary housing mandates set forth in the San Leandro Zoning Code Part VI, Section 30: two (2) low-income and four (4) moderate-income. City desires to accept the restriction of the dedicated affordable housing units as shown on PLN 2004- 00101 and Tract 7579 for the development as Affordable Housing Units (the "Affordable Units") described in this Agreement. A tentative or final map or plat map showing the planned units to be located on Lots 2,5,6,9,10, and 13 within the Development is attached hereto as Exhibit A and incorporated herein by this reference; and WHEREAS, Developer has delivered to City, and City has approved a Resale Restriction and Option to Purchase in recordable form, restricting the sale of the Affordable Units to low- income persons or households for the term of forty five (45) years (the "Resale Restrictions"). The covenants in the Resale Restrictions are intended to run with the land and be binding on the