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6.B. - Page 45 of 113 <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 />Attention: City Manager <br />EXEMPT FROM RECORDING FEES PER <br />GOVERNMENT CODE §§6103,27383 <br />SPACE ABOVE THIS LINE FOR <br />RECORDER'S USE. <br />AFFORDABLE HOUSING REGULATORY AGREEMENT AND DECLARATION OF <br />RESTRICTIVE COVENANTS <br />This Affordable Housing Regulatory Agreement and Declaration of Restrictive Covenants <br />(this "Agreement") is made as of , 2021 ("Effective Date") by and between the <br />City of Redwood City, a charter city and municipal corporation ("City") and Habitat for <br />Humanity Greater San Francisco, Inc., a California nonprofit public benefit corporation <br />("Developer"). The City and the Developer are collectively referred to herein as the "Parties." <br />RECITALS <br />A. Developer is the owner of the real property located at 612 Jefferson Avenue in <br />Redwood City, San Mateo County, California, and more particularly described in Exhibit A <br />attached hereto (the "Property"). <br />B. Developer intends to construct a residential condominium project on the <br />Property that will consist of 20 for -sale dwelling units together with parking and related <br />improvements (collectively, the "Project"). <br />C. Pursuant to that certain unrecorded Affordable Housing Grant Agreement <br />executed by and between City and Developer ("Grant Agreement"), City has agreed to <br />provide a grant (the "Grant") to Developer using City in lieu housing fee funds and <br />affordable housing impact fee funds to assist in financing development of the Project. The <br />Grant Agreement is secured by a deed of trust recorded against the Property (the "Habitat <br />Deed of Trust") <br />D. On May 22, 2017, the City Council approved an initial study for the Project <br />and determined that the Project qualifies for exemption from the California Environmental <br />Quality Act (CEQA) pursuant to Public Resources Code Sections 21159.21 and 21159.23. In <br />addition, the City Council approved a reduction in required parking for the Project pursuant <br />to State Density Bonus Law. <br />I0MMiFd1►b1i■9:t <br />1619\01\2924770.1 <br />10/9/2020 <br />OAK #4847-7408-069700 <br />ATTY/AGR.2020.305/Habitat for Humanity Greater San Francisco (Grant Agreement w/ Exhibits) (Page 41 of 109) <br />M <br />