Laserfiche WebLink
<br />RECORDING REQUESTED BY ) <br />AND WHEN RECORDED MAIL TO: ) <br />) <br />CITY OF REDWOOD CITY ) <br />1017 MIDDLEFIELD ROAD ) <br />BOX 391 ) <br />REDWOOD CITY, CALIFORNIA 94064 ) <br />ATTN: HOUSING COORDINATOR <br /> <br />(Space Above Provided For Recorder) Exempt from Recording Fees under Govt. Code <br />Section 27383 <br /> <br />DECLARATION OF AFFORDABILITY COVENANTS <br /> <br />THIS DECLARATION OF AFFORDABILITY COVENANTS (this <br />"Declaration") is made on , 2009, by SERVICE LEAGUE <br />OF SAN MATEO COUNTY ("Declarant") with respect to certain property located <br />at 2820 Huntington Avenue in the unincorporated limits of the City of Redwood <br />City, County of San Mateo, California, as more fully described in Exhibit "C1" <br />attached hereto and incorporated herein by this reference (the "Property"). <br /> <br />NOW THEREFORE, Service League of San Mateo County, a non-profit <br />corporation, declares that the Property described above is held and will be held, <br />transferred, encumbered, used, sold, conveyed, leased and occupied subject to <br />the covenants, restrictions and limitations set forth in this Declaration. All of the <br />restrictions, covenants and limitations will run with the land and will be binding on <br />all parties having or acquiring any right, title or interest in the Property described <br />above or any part thereof, and to any improvements located thereon, and will <br />inure to the benefit of the City and the future lessees of the Property. Each <br />grantee of a conveyance or purchaser under a contract or agreement of sale <br />covering any right, title or interest in any part of the Property, by accepting a <br />deed or a contract of sale or agreement of purchase, accepts the property <br />subject to, and agrees to be bound by, any and all of the restrictions, covenants <br />and limitations set forth in this Declaration. <br /> <br />1. Recitals. The recitals set forth above are true and correct <br />and incorporated herein by this reference. <br />2. Affordabilitv Covenants. Declarant covenants that the entire <br />dwelling containing 6 beds, or one hundred percent (1000/0) of the transitional <br />housing beds developed on the Property (singularly, an "Affordable Bed," and <br />collectively, the "Affordable Beds") shall be maintained affordable as follows (the <br />"Affordability Covenants"): <br /> <br />a) All six (6) of the affordable transitional beds shall be <br />affordable for persons or households earning fifty percent <br />(500/0) or below the area median income ("AMI") per San <br /> <br />Exhibit C <br />