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<br />EXHIBIT C <br /> <br />ADDENDUM TO GRANT DEED <br />RESTRICTIONS FOR AFFORDABLE <br />HOUSING <br />104 and 112 Cedar Street <br />Redwood City, California <br /> <br />THE GRANT MADE BY, AND THE TITLE CONVEYED TO THE GRANTEE UNDER, <br />THE GRANT DEED TO WHICH THIS ADDENDUM TO GRANT DEED <br />RESTRICTIONS FOR AFFORDABLE HOUSING IS A TT ACHED AND MADE <br />EXPRESSLY SUBJECT TO THE TERMS AND PROVISIONS STATED IN THIS <br />ADDENDUM TO GRANT DEED. <br /> <br />I. This grant is made with the express understanding and requirement that the Grantee will <br />improve or cause to be improved the Property hereunder granted by constructing or causing the <br />construction of affordable housing thereon for occupancy by certain purchasers who meet the <br />qualifications to be determined as "Eligible Households". <br /> <br />II. This property to be acquired is located within the City's Redevelopment Plan Area and <br />pursuant to the Health and Safety Code will be subject to an Owner's Participation Agreement <br />between the Redevelopment Agency and Contractor as a condition of development. The Owner <br />Participation Agreement will set forth the specific affordability covenants and restrictions and <br />benefit to low income residents as a condition of funding received for said acquisition. <br /> <br />Ill. The City makes no representations as to the allowable structures that can be built on the <br />site. Contractor shall carry out due diligence with all City Departments to receive entitlements to <br />develop the site for benefit to low income residents as either an affordable housing or economic <br />development activity. Contractor shall enter into an Owner Participation Agreement with the <br />Redevelopment Agency as a condition of receiving planning approvals and building permits to <br />construct. <br /> <br />/ <br />/ <br />/ <br />/ <br />/ <br />/ <br />/ <br />/ <br />/ <br />/ <br /> <br />1 <br />