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Recorded at the Request of <br />Old Republic Title company - <br />Oakland <br />2017_079690 <br />RECORDING REQUESTED BY <br />OLD REPUBLIC TITLE COMPANY <br />8:00 am 09/12/17 AG Fee: NO FEE <br />AND WHEN RECORDED MAIL TO: ) <br />Count of Pages 21 <br />Recorded in Official Records <br />City of Redwood City ) <br />County of San Mateo <br />Mark Church <br />1017 Middlefield Road ) <br />Assessor -County Clerk -Recorder <br />Redwood City, California 94063 <br />11 111111111111 11 11111111 1111 11111 111 <br />Attn: City Clerk } <br />* R 0 0 0 2 4 5 0 8 0 5 <br />(Space Above Provided For Recorder) Exempt from Recording Fees under Govt. Code Section 27383 <br />AFFORDABILITY AGREEMENT <br />THIS AFFORDABILITY AGREEMENT (this "Agreement') is made and entered into <br />on 2017 (the "Effective Date"), by and between LifeMoves, <br />formerly known as InnVision Shelter Network, a California non-profit public benefit <br />corporation ("LifeMoves"), and the CITY OF REDWOOD CITY (the "City'). <br />RECITALS <br />A. LifeMoves is the owner of that certain real property in the City of Redwood <br />City, County of San Mateo, California (the "City") located at 110 Locust Street, including <br />improvements consisting of approximately 12,400 square feet, two stories, and 12 <br />residential units, in Redwood City, California, as more fully described in Exhibit A attached <br />hereto and incorporated herein by this reference (the "Property"). <br />B. On SUr3e i2, 2017, the City Council of the City of Redwood City <br />approved forgiveness of two Community Development Block Grant loans (the "Loan <br />Forgiveness") made to MidPen Housing Corporation, a California non-profit public benefit <br />corporation, and Mid -Peninsula Coalition Belle Haven, Inc., a California non-profit public <br />benefit corporation (together, "Developer") in 1986 and 1988, in the amount of $452,000 <br />and $55,000, respectively, for the acquisition and rehabilitation of the Property for <br />purposes of operating a shelter facility for transitional housing. <br />C. As a condition of the Loan Forgiveness, Developer has agreed to transfer <br />title in the Property to LifeMoves, which transfer shall happen concurrently with <br />effectiveness of this Agreement (the "LifeMoves Transfer"). <br />D. LifeMoves has operated a transitional housing facility on the Property for <br />extremely low income homeless families and is committed to the continued operation and <br />use of the Property as a transitional housing facility for very low income populations. <br />E. LifeMoves agrees to use restrictions for a term of twenty (20) years, and <br />LifeMoves and City desire to enter into this Affordability Agreement. <br />F. Concurrently with effectiveness of this Agreement, LifeMoves has entered <br />into a Right to Repurchase/Right of First Refusal (the "MidPen Right to Repurchase") with <br />Page 1 of 15 <br />ATTY/AGR/2017.092/M IDPEN — LIVEMOVES — REDWOOD FAMILY HOUSE <br />REV: 06-06-17 JS exemited In counterpart <br />