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<br />~V)d-. ~.vl¡.Tkf <br />fvC~ îq b)' 5L <br /> <br />AFFORDABILITY COVENANTS <br /> <br />2005-141 299 <br /> <br />FIRST AMERICAN TITLE COMPANY <br />08:00am 08/17/05 DR Fee: 43.00 <br />Count of pages 13 <br />Recorded in Official Records <br />County of San Mateo <br />Warren Slocum <br />Assessor-County Clerk-Recorder <br /> <br />1111111111111111111111111111111111111111111111111111111illllill IIIIII!I III! <br />*200S0141299AR* <br /> <br />RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: <br /> <br />Redevelopment Agency of the <br />City of Redwood City <br />P.O. Box 391 <br />Redwood City, CA 94064 <br />Attn: Redevelopment Director <br /> <br />\) <br /> <br />(Space Above for Recorder's Use) <br /> <br />I}f> <br /> <br />DECLARATION OF AFFORDABILITY COVENANTS <br /> <br />THIS DECLARATION O~ AFFORDABILITY COVENANTS (this <br />"Declaration") is made on l~ ,...-, , 2005, by VILLA <br />MONTGOMERY, L.P., a California li ited partnership ("Declarant") <br />with respect to certain property located in the City of Redwood <br />City, County of San Mateo, California, as more fully described in <br />Exhibit "A" attached hereto and incorporated herein by this <br />reference (the "Property"). <br /> <br />WHEREAS, <br /> <br />The Declarant is the fee simple owner of the <br /> <br />Property; <br /> <br />IYc.:r/'~ <br /> <br />WHEREAS, First Community Housing, Inc., a California <br />non-profit corporation and the Redevelopment Agency of the City of <br />Redwood City (the "Agency") have entered into that certain Amended <br />and Restated DDA dated as of March 31, 2005 and recorded in the <br />Official Records of San Mateo County as Document No. <br />{1/1Cu'r~1fi k/!""".A (the "DDA" or "Agreement") with respect to the <br />develop nt of the Property and whlch such Agreement has been <br />assigned to Declarant; <br /> <br />WHEREAS, Pursuant to the terms and conditions of the <br />DDA, and in return for the Agency's financial assistance in <br />connection with the redevelopment of the Property, the Declarant <br />has agreed to develop upon the Property a 58 unit affordable <br />apartment complex, including one (1) manager's unit, and to impose <br />certain covenants on the Property and the apartment complex <br />thereupon; and <br /> <br />WHEREAS, The Declarant desires this Declaration to serve <br />as the instrument to impose said covenants. <br /> <br />1 <br /> <br />REDW\OOO6\DOC\O26 <br />