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<br />78 <br />Page 4 <br /> <br />ATTACHMEIT <br /> <br />CITY OF REDWOOD CITY <br />1017 MIDDLEFIELD ROAD <br />BOX 391 <br />REDWOOD CITY, CALIFORNIA 94064 <br />AnN: <br /> <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br /> <br />f Ii <br /> <br />RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: <br /> <br />:::::'.".: <br />='Ii:::',' <br /> <br />(Space Above Provided For Recorder) Exempt from RecordingJ5~s!.~~r Govt. Code Section 27383 <br />~lW:iW;" 'lqU1.H:i' <br /> <br />DECLARA liON OF AFFORo,~~!~ COVEN~:". <br /> <br />. T~IS DECLARATION OF{;t~~FORDABm"PTY COV~~~~TS (this <br />II Declaration") IS made on ":i~,l\:" ,~p :$, by NICHOUSON LAMB <br />V~NTURE LP I a Ca.lifornia limited partn~rs.hip r~~~~n',r~; r referr~d to. as "Declarant"), <br />with respect to certain real prope !'Ro.~s'st'ng O!'~~p~?XI~ateIY Sl~y-SIX hundredths. of <br />an acre (0.66 acres) and located ~ r!8~~Jlvoodslde Q,,}!~ In the City of Redwood City, <br /> <br />;~~~~o~e~: ~~~~~~:~~a h~i.'~~~'1t~~'m~~ "~~~~~. in Exhibit "A" <br />~~~~~n;:~iiff~~~';~r~~~~J~~!E~~p~~~~~~~~hC~: ~~ <br /> <br />umt four (4)- to five::{f~l~~Ory ~~~~~{;nlm~i~ pro~~,~ on the Property (the "ProJect"); and <br /> <br />'~'.n,:.:-:/. ...:-!'f.~':./.1" ....:.\t.:;.~!iili.!:i!:~.. '.j <br /> <br />a~proy~!i~*i!II~~~~;~~i~~O~~:~~ a~i~ ~~~~i~~~o~f :ee ~~~~e ;~~;~ <br /> <br />CitXIH~:r1t'i'lIn1m~m o'~~:n!\.l en .p~rq~nt (150/0) of the total number of reSidential units <br />prop~~" or SIX (6) rS 1 :,~~tlal'~pl~. shaff be affordable to. very-low. low or moderate- <br />Income'~~~:~hOldS bas ~im~ the d'Ounty of San Mateo median Income; and <br /> <br />WHER~~, Decl~{~rt, in accordance with the Precise Plan, shall reserve a <br />minimum of fifte:~p' pe,~~!nt (150/0) of the condominium units. each containing one (1) <br />bedroom and oneq1~~~throom ~nd each consisting of approximately six hundred fifty <br />square feet (650 Sf),.to approximately one thousand (1000 sf) for purchase and <br />occupation at affordable housing cost to families of moderate-income, as those terms <br />are defined under Health and Safety Code sections 50052.5 and 50093, respectively <br />(each, an "Affordable Unit" and collectively, the "Affordable Units") for a period of forty- <br />five (45) years; and <br /> <br />REOVV\O001\DOC\022-3.DOC <br />12/23108 900 HvT <br /> <br />1 <br />