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Mateo County on _, 20, [insert recording date] as Document No. [insert <br />recording date] (the "Restrictive Covenants Agreement") to implement that certain Affordable <br />Housing Plan approved by the City Council [insert details]. <br />WHEREAS, Owner hereby agrees to irrevocably offer for dedication the Affordable Site <br />to the City or to the City's designee. <br />NOW, THEREFORE, incorporating the foregoing recitals, the Owner does hereby <br />designate and set aside for fature use as described hereto and irrevocably offers to dedicate to the <br />City or the City's designee fee title to the Affordable Site, subject only to exceptions to title <br />approved by the City. The City may only enforce its right to acquire the Property hereunder, if the <br />Owner has not obtained a building permit and commenced construction of the affordable housing <br />improvements within five years of the date hereof, unless the City Manager extended the deadline <br />in writing under the Affordable Housing Land Donation Agreement. <br />This Irrevocable Offer to Dedicate shall continue in full force and effect until City Council or if <br />directed by the City, the governing board of the City's designee accepts such offer or shall <br />immediately terminate upon the recordation of the construction financing for the affordable <br />housing improvements. Notwithstanding the foregoing, upon Owner's request, the City shall <br />record a formal release of this Irrevocable Offer to Dedicate promptly upon the close of <br />construction financing for the affordable housing improvements. The dedication of the Affordable <br />Site shall be deemed to be completed, upon acceptance of this Irrevocable Offer to Dedicate by <br />the City Council, or, if directed by the City, the governing board of the City's designee or if the <br />offer to dedicate Tinder the final map is accepted as provided thereunder. <br />If and to the extent the City accepts the dedication of the Affordable Site hereunder, the City shall <br />take all steps necessary or required to develop affordable housing in compliance with the <br />Ordinance. <br />[Signature Page Follows] <br />ATTY/AGR/2025.084/920 SHASTA AFFORDABLE HOUSING LAND DONATION AGREEMENT <br />REV: 10-16-25 VR <br />Exhibit D - 2 <br />