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Res15 15455
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Res15 15455
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Last modified
10/11/2019 7:53:57 AM
Creation date
10/11/2019 7:53:50 AM
Metadata
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Template:
CC Index
CC Index - Document Type
Agenda
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
11/9/2015
Description
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY AS HOUSING SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY APPROVING AND AUTHORIZING AN OMNIBUS AMENDMENT TO LOAN MODIFICATION BY AND AMONG THE CITY OF REDWOOD CITY AS HOUSING SUCCES50R AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY, THE SUCCESSOR AGENCY, MEZES COURT ASSOCIATES AND A TO BE FORMED LIMITED PARTNERSHIP
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11/09/2015 <br /> 6.3.A. - Page 26 <br /> EXHIBIT D <br /> Form of Assignment and Amendment of Covenant <br /> RECORDING REQUESTED BY <br /> AND WHEN RECORDED MAIL TO: <br /> City of Redwood City <br /> 1017 Middlefield Road, <br /> Redwood City, CA 94063 <br /> Attn: City Clerk <br /> (Space Above This Line for Recorder's Use Only) <br /> Exempt from recording fee per Gov. Code§27383. <br /> ASSIGNMENT AND AMENDMENT TO AFFORDABILITY HOUSING COVENANT <br /> (City Center Plaza) <br /> THIS ASSIGNMENT AND AMENDMENT TO AFFORDABILITY HOUSING <br /> COVENANT (the "Amendment") is dated , 2016, assigns and amends that <br /> certain Affordability Housing Covenant which was recorded in the Official Records of San <br /> Mateo County on June 28, 1996 as instrument number 96-079147 (the "Ori�inal Covenant" and <br /> as assigned and amended by this Amendment, the "Covenant") and is among the City of <br /> Redwood City, a municipal corporation, as successor agency to The Redevelopment Agency of <br /> the City of Redwood City ("Terminating A�cy"), the City of Redwood City, a municipal <br /> corporation, as housing successor agency to The Redevelopment Agency of the City of Redwood <br /> City ("A�encv"), Mezes Court Associates, a California Limited Partnership ("Ori�;inal Owner"), <br /> and[New OwnerJ, a California Limited Partnership ("Owner"). <br /> RECITALS <br /> A. The Redevelopment Agency of the City of Redwood ("Ori ing� al Ag�encX"), the <br /> "Agency" under the Original Covenant, dissolved on February 1, 2012, as required by Assembly <br /> Bill X1 26 signed into law as part of the State of California's budget package on June 29, 201 1, <br /> � and its assets and functions, including without limitation its rights under the Original Covenant, <br /> were transferred to the Agency and Terminating Agency. <br /> B. As provided herein: (i) Original Owner and Owner wish to assign Original <br /> Owner's interest in the Original Covenant to Owner; (ii) Terminating Agency wishes to <br /> acknowledge the termination and release of its interest in the Original Covenant; and (iii) to <br /> assist in the rehabilitation of the Mortgaged Property, Owner and Agency wish to amend the <br /> Original Covenant. <br /> C. All capitalized terms used but not defined in this Amendment have the meanings <br /> set forth in the Original Covenant. <br /> ATTY/AGR/2015/AMENDMENTS/AMEND N0.1—OMNIBUS LOAN DOCUMENTS CITY CENTER PLAZA <br /> REV:10-23-15 VR <br /> OAK#4832-5708-5993 v2 <br /> Page 18 of 24 <br /> 18 RESO.#15455 <br /> MUFF#455 <br />
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