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<br />~ <br />'~ I . "" <br /> <br />Recording Requested by <br />and when Recorded, return to: <br />City of San Leandro <br />Mail Tax Statements to: <br />City of San Leandro <br /> <br /> <br />2006095152 03 i 14/2006 lT4c5"Alr==" <br /> <br />UH"lt.IAC kl"'''",,") U'" ( . ..... ' <br />P,HRl::K U'6:;NNELL I" .'[HI'llou.'-! \.UlJt"lr <br />RECORDING FEE" <br />- \:). {JI') <br /> <br />,"-.'~' <br /> <br />City of San Leandro <br />835 E. 14th Street <br />San Leandro, California 94577 <br />Attn: Community Development Director <br /> <br />: llllllli lIIi 1111'111111'1'11'11,1 IIIIIIII/III! illl <br />y~ <br />r <br /> <br />29 Pv; <br /> <br />en f OF SAN LEANDRO <br /> <br />(SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE) <br /> <br />MAR 3 0 2006 <br />CITY CLERK'S OFFICE <br /> <br />EXEMPT FROM RECORDING FEES PER GOVERNMENT CODE <br />6103,27383 <br /> <br />INCLUSIONARY HOUSING AGREEMENT - SALE UNITS <br /> <br />THIS INCLUSIONARY HOUSING AGREEMENT (the "Agreement") is made this 14th <br />day of February, 2006, by and between MACARTHUR/SUPERIOR, LLC ("Developer"), and the <br />CITY OF SAN LEANDRO ("City"). <br /> <br />RECITALS <br /> <br />WHEREAS, Developer is the owner of certain real property (Assessor's Parcel Nos. 76- <br />328.1 AND 76.328.2.1) located within the City of San Leandro, California (the "Property"). <br />Developer is also the Developer of an eight (8) unit for sale residential development, of which <br />one (1) unit will be made affordable to eligible low and moderate income homebuyers, <br />referred to as MacArthur Superior (the "Development"), and has received a planning approval <br />and/or tentative map approval ("PLN#2005.00065 and/or Tract 7659") from the City and will <br />execute the Agreement prior to the recordation of a Final Subdivision Map (the "Map") or a <br />building permit (the "Permit") as determined by the City for the development of the Development <br />within the City of San Leandro; and <br /> <br />WHEREAS, Developer, by the PLN#2005.00065 and Tract 7659, has offered to restrict a <br />total of one ( 1 ) for-sale housing unit to be made available to low- and/or moderate-income <br />households as follows in satisfaction of the City's inclusionary housing mandates set forth in the <br />San Leandro Zoning Code Part VI, Section 30: one (1) moderate.income. City desires to accept <br />the restriction of the dedicated affordable housing units as shown in the PLN#2005.00065 and <br />Tract 7659 for the development as an Affordable Housing Unit (the "Affordable Unit") described in <br />this Agreement. A tentative, final or plat map showing the planned units to be located on Lot 8 <br />within the Development is attached hereto as Exhibit A and incorporated herein by this reference; <br />and <br /> <br />WHEREAS, Developer has delivered to City, and City has approved a Resale Restriction <br />and Option to Purchase in recordable form, restricting the sale of the Affordable Unit to low-income <br />persons or households for the term of forty five (45) years (the "Resale Restrictions"). The <br />covenants in the Resale Restrictions are intended to run with the land and be binding on the <br />