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ueciararion or rvroroaonny Lovenanr <br />` 42tre l of 6 <br />t"�-�>� 14g 12.x, <br />RECORDING REQUESTED BY: <br />County of San Mateo Department <br />of Housing <br />WHEN RECORDED, MAIL TO: <br />County of San Mateo Department <br />of Housing <br />264 Harbor Blvd. Bldg. A <br />Belmont, Ca. 94002 <br />PONY # DOH 209 <br />Attn: Raymond Hodges <br />Exempt from Recording fees pursuant to <br />Section 27383 of the Government Code <br />The undersigned Title Company hereby certiftesthat the <br />within instrument is a true and complete copy of the original <br />thereof, which was recorded in the off�irial records of the <br />County ofSc(n )-nck e D on Juh�Zq,7ci7 under <br />Recorders Series No: �)v I - 0 SS q ci ` <br />North American Title Company <br />9 t <br />BY, <br />Annette Ross <br />(This Space For Recorder's Use Only) <br />X12 26DECLARATION OF AFFORDABILITY COVENANTS <br />HIP Housing Development Corporation (the "Owner") agrees that three (3) of the units <br />located on the property described in the attached Exhibit 'Wand more commonly known as <br />1512 Stafford Street, Redwood City, CA, aka 1512 Stafford Street (the "Project"), shall be <br />restricted beginning upon execution of this document, and the Note and Deed of Trust of even <br />date herewith, until that date which is fifty-five (66) years from the date of the final purchase <br />and close of the acquisition with documentation acceptable to the Department of Housing as <br />described in that certain "Agreement Between The County of San Mateo Department of Housing <br />and HIP Housing Development Corporation -to Assist with1512 Stafford Street, Redwood City, <br />CA for the Period May 1, 2017 — June 30, 2019," approved in Resolution No. 075191 by the <br />Board of Supervisors on May 16, 2017 (the "Agreement") in order to remain continuously <br />affordable to lower income tenants (the "Affordability Covenant"). This Affordability Covenant <br />shall be binding on the Owner and any and all successors in interest. <br />1. Department of Housing Affordable Rental Acouisitlon and Preservation Proaram <br />(ARAPP) Requirements and Definitions <br />The following definitions shall be incorporated by reference in this Affordability Covenant: <br />A. Determination of ARAPP-Restricted Units: <br />An ARAPP-Restricted Unit is a residential Unit that is subject to rent and occupancy <br />restrictions as a result of the financial assistance provided by the County of San Mateo <br />Department of Housing ("DOH"), as specified in the ARAPP NOFA, this Restrictive <br />Covenant and the ARAPP Loan Agreement. <br />ARAPP-Restricted Units: <br />For the purposes of this Agreement, three (3) units, out of the 7 units for this Project, will <br />be considered ARAPP-Restricted Units. <br />B. Affordability and Occupancy Requirements . <br />a) All ARAPP-Restricted Units must remain affordable for a minimum of fifty- <br />