Laserfiche WebLink
<br />EXHIBIT "c" <br /> <br />AFFORDABILITY COVENANTS <br /> <br />RECORDING REQUESTED BY ) <br />AND WHEN RECORDED MAIL TO: ) <br />) <br />Redwood City ) <br />Redevelopment Agency ) <br />P.O. Box 391 ) <br />Redwood City, CA 94064 ) <br />Attn: Executive Director ) <br /> <br />(Space Above for Recorder's Use) <br /> <br />Exempt from recording fees pursuant to California Government Code section <br />27383 <br /> <br />DECLARATION OF AFFORDABILITY COVENANTS <br /> <br />THIS DECLARATION OF AFFORDABILITY COVENANTS (this <br />"Declaration") is made on December ,19, 2008, by MENTAL HEALTH <br />ASSOCIATION OF SAN MATEO COUNTY, a California non-profit <br />corporation ("Declarant") with respect to certain property located <br />in the City of Redwood City, County of San Mateo, California, as <br />more fully described in Exhibit "A" attached hereto and <br />incorporated herein by this reference (the "Property"). <br /> <br />WHEREAS, Declarant is the fee simple owner of the <br /> <br />Property; <br /> <br />WHEREAS, Declarant, the City of Redwood City (the <br />"City") and the Redwood City Redevelopment Agency (the "Agency") <br />have e tered into that certain Owner Participation Agreement dated <br />as of , ~, 2008 and recorded i he Official Records <br />of San ateo County as Document No (the "OPA" or <br />"Agreement") with respect to Declarant's evelopment of the <br />Property; <br /> <br />WHEREAS, pursuant to the terms and conditions of the <br />OPA, and in return for the City's and the Agency's financial <br />assistance in connection with the redevelopment of the Property, <br />Declarant has agreed to develop upon the Property an affordable <br />housing project consisting of fifteen (15) units of supportive <br />affordable housing, including one (1) manager's unit (the <br />"Project"), and to impose certain covenants on the Property and the <br />Project; and <br /> <br />EXHIBIT "e" - Page 1 <br />