Agmt25 El Camino Real Holding JV LLC, - 920 Shasta

Browse Search

ATTY/AGR/2025.084/920 SHASTA AFFORDABLE HOUSING LAND DONATION AGREEMENT REV: 10-16-25 VR Exhibit G - 33 EXHIBIT G-2 to EXHIBIT G RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 Attention: City Clerk NO FEE FOR RECORDING PURSUANT TO GOVERNMENT CODE SECTIONS 6103 AND 27383 APN: (Space above for Recorder’s Use) This Agreement is recorded at the request and for the benefit of the City of Redwood City and is exempt from the payment of a recording fee pursuant to Government Code Sections 27383. ASSIGNMENT AND ASSUMPTION AGREEMENT This Assignment and Assumption Agreement (this “Agreement”) is entered into as of __________________, 20___, by and Abode Communities, a California nonprofit public benefit corporation (the “Assignor”), and __________, a __________ (the “Assignee”) with the acknowledgement of the City of Redwood City, a California charter city (the “City”). RECITALS A. Assignor previously entered into that certain Affordable Housing Restrictive Covenant Agreement, dated as of _____________, 20__, (the “Restrictive Covenant Agreement”) under which the Assignor agreed to restrict the property located at 920 Shasta Street and 122 Buckeye Street, Redwood City, County of San Mateo, State of California, as more particularly described in Exhibit “A” attached hereto and incorporated herein by this reference (the “Affordable Site”), to develop, construct and operate approximately ninety-nine (99) affordable residential units and one unrestricted manager’s unit (the “Affordable Development”). B. Assignor desires to transfer all of Assignor’s interest in the Affordable Development and to assign to Assignee its rights, duties and obligations under the Restrictive Covenant Agreement and Assignee desires to accept and assume each and all of the rights, duties, and obligations of the Assignor under the Restrictive Covenant Agreement. C. Pursuant to Section 6.26 of the Restrictive Covenant Agreement, the Assignor may without the consent of the City, assign all of its right, title, interest and obligations under the