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RECORDING REQUESTED BY ) <br /> AND WHEN RECORDED MAIL TO: ) <br /> ) <br /> CIN OF REDWOOD CITY ) <br /> 1017 MIDDLEFIELD ROAD ) <br /> BOX 391 ) <br /> REDWOOD CITY, CALIFORNIA 94064 ) <br /> AnN: CDBG/HOME AoMwisrRaTOR ) <br /> ) <br /> (Space Above Provided For ReCOrder) Exempt from Recording Fees under Govt. Code Sedion 27383 <br /> RESALE RESTRICTION AGREEMENT AND OPTION TO PURCHASE <br /> Owner: <br /> Property Address: <br /> Unit: <br /> THIS RESALE RESTRICTION AGREEMENT AND OPTION TO PURCHASE <br /> (this "Resale Restriction AgreemenY') is entered into as of this day of <br /> , 20_, by and between the City of Redwood City, a municipal <br /> corporation of the State of California, (the "City") and <br /> ("Owner"). <br /> RECITALS <br /> WHEREAS, the City previously approved a vesting tentative map and a planned <br /> community permit (collectively, the "Project Approvals") for the construction of a one <br /> hundred and thirty-two (132) unit common interest development (the "ProjecY') on that <br /> certain real property located at 333 Main Street within the City (the "Property"); and <br /> WHEREAS, pursuant to the terms and conditions of the Affordable Housing <br /> Agreement executed by 333 Main Street RWC, LLC ("Developer") and the City on or <br /> about September _, 2011, a minimum of seventeen (17) residential dwelling units in <br /> the Project shall be available at affordable rents to lower- and moderate-income <br /> households based on the County of San Mateo median income, and shall be reserved <br /> for purchase and occupation at affordable housing cost to households of moderate <br /> income, as that term is defined under Health and Safety Code section 50093 (each, an <br /> "Affordable UniY' and collectively, the "Affordable Units") for a period of forty-five (45) <br /> years; and <br /> WHEREAS, Owner is a Qualified Buyer, as that term is hereinafter defined, and <br /> thereby eligible to occupy an Affordable Unit; and <br />