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l.% <br />v o <br />~~ <br />0 <br />c a <br />~ ~ <br />r- ~ <br />n m <br />~~ <br />~ m <br />~~ <br />~ m <br />o ° <br />8 <br />. d~~ o2z~oos~tZZ-vP <br />Recording Requested by <br />and when Recorded, return to: <br />Redevelopment Agency of the j <br />City of San Leandro <br />835 East 14"' Street <br />San Leandro, CA 94577 <br />Attn Executive Director <br />EXEMPT FROM RECORDING FEES PER <br />GOVERNMENT CODE §§6103, 27383 <br />q <br />~1~ ~4 <br />l~ <br />~iF4-~lC:'lAL fZE:,:(rr~U~~ c~6~ <br />` ~Si7R1C'K Q'CONNELL <br />r~:?r;FO;~~;`j'' f2ECORi.TING FEE: <br />~--' couNT~° rwx: <br />CITY" 7AX ~. <br />r~ <br />~ i~ ~ ~ ~' i i' ~ ~ II ji! I ~ i~ I <br />~! '~ ~ ~~i ~ I j' I li iii ~ ' i <br />I <br />P~l~ <br />\~ ~~ <br />`~qt~~{ on ~( ~p6,D0p ~~ (SPACE ABOVE THIS LINE RF.SERVEU FOR RECORUER'S USE) <br />Ca~n~y To~c ~ do}ob <br />~ ~~.~b <br />C i ~ ~ o ~ ~ Leandro MEMORANDUM OF GROUND LEASE <br />RLAMC=Dt~ t~+Jl.N r`t' <br />35.(70 <br />110.0FI <br />6©@.00 <br />14''~ -' G a <br />This Memorandum of Ground Lease (this `'Memorandum'') dated as of February 1, 2007, is <br />executed by and between the Redevelopment Agency of the City of San Leandro, a public agency <br />("Agency" or "Landlord") and Mercy Nousing California XXXIiI, a California Limited Partnership <br />("Developer" or "Tenant") in reference to that certain Ground Lease dated as of February l , 2007, <br />by and between Agency and Developer (the "Lease"). <br />1. The purpose of this Memorandum is to provide notice of the existence ofthe Lease <br />which is incorporated herein by reference. <br />2. Agency is the owner of fee title to the land located in the City of San Leandro, County <br />of Alameda, State of California known as Alameda County Assessor's Parce] No. 077E-] 525-003- <br />004 located at 2398 East 14th Street and more particularly described in Exhibit A attached hereto (the <br />"Land"). <br />3. For good and valuable consideration, Agency has leased to Developer, and Developer <br />has leased from Agency, the Land and the improvements located thereon (the "Improvements") <br />upon and subject to all of the terms and conditions set forth in the Lease. <br />4. The term of the Lease ("Term") commences on February ] 5, 2007 (the <br />"Commencement Date"), and unless sooner terminated or extended pursuant to the terms and <br />conditions of the Lease, the Term expires on the seventy-fifth (75th) anniversary of the <br />Commencement Date. <br />5. The Lease provides that (i) Developer is obligated to rehabilitate the existing structure <br />located on the Land into a 68-unit multifamily housing project which shall be affordable to very low- <br />and extremely low-income households, and (ii) rents for the dwelling units shall be restricted in <br />accordance with an Affordable Housing Regulatory Agreement and Declaration of Restrictive <br />Covenants executed by and between the Parties and recorded in Official Records of Alameda County <br />substantially concurrently herewith. <br />6. The Lease provides that the Agency has certain rights to purchase Developer's <br />leasehold interest in the Property upon the occurrence of specified events as more particularly set <br />forth in the Lease. <br />839836-3 <br />