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WHEREAS, there has been presented to, and reviewed by, the Council of <br />the City of Redwood City an agreement entitled "Regulatory Agreement," <br />between the City of Redwood City and Lido, LLC (the "Agreement"); and <br /> <br /> WHEREAS, the Agreement sets forth the restrictions for affordable <br />housing on the Property. <br />NOW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, AS <br />FOLLOWS: <br /> <br /> 1. That certain agreement entitled, "Regulatory Agreement," by and <br />between the City of Redwood City, a municipal corporation of the State of <br />California, and Lido, LLC, a copy of which agreement is on file in the office of <br />the City Clerk, to which copy reference is hereby made for the full particulars <br />thereof, is hereby approved and the City Manager and City Clerk are hereby <br />authorized and directed to execute and to attest thereto, respectively, said <br />agreement for and on behalf of the City of Redwood City. <br /> <br /> 2. Upon execution of this Agreement by Owner and the City of Redwood <br />City, the City Clerk is hereby authorized and directed to record, or cause to be <br />recorded, the Agreement in the County Recorder, County of San Mateo, <br />California. <br /> <br />R~>~2~ 2 <br />G:~,shared~'edwood~cou ncil <br />FXS,~ 13587 <br /> <br /> <br />