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<br />.. <br /> <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 />Escrow No. 3097256 <br /> <br />(Space Above Provided For Recorder) <br />Section 27383 <br /> <br />Exhibit C <br /> <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br /> <br />2008-093774 <br /> <br />04:30pm 08/15/08 DR Fee: NO FEE <br />Count of pages 8 <br />Recorded in Official Records <br />County of San Mateo <br />Warren Slocum <br />Assessor-County Clerk-Recorder <br /> <br />111111111111111111111111111 111111111111111111111111111111111111 111111111111 <br /> <br />* zoo 800 9 3 7 7 4 A R * <br /> <br />Exempt from Recording Fees under Govt. Code <br /> <br />DECLARATION OF AFFORDABILlTY COVENANTS <br /> <br />f <br />I <br /> <br />926 4th Avenue <br /> <br />THIS DECLARATION OF AFFORDABILlTY COVENANTS (this "Declaration") is <br />made on August 13 , 2008, by SERVICE LEAGUE OF SAN MATEO <br />COUNTY ("Declarant") with respect to certain property located at 926 4th Avenue in the <br />City of Redwood City, County of San Mateo, California, as more fully described in <br />Exhibit "A" attached hereto and incorporated herein by <br />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 the <br />covenants, restrictions and limitations set forth in this Declaration. All of the restrictions, <br />covenants and limitations will run with the land and will be binding on all parties having <br />or acquiring any right, title or interest in the Property described above or any part <br />thereof, and to any improvements located thereon, and will inure to the benefit of the <br />City and the future lessees of the Property. Each grantee of a conveyance or purchaser <br />under a contract or agreement of sale covering any right, title or interest in any part of <br />the Property, by accepting a deed or a contract of sale or agreement of purchase, <br />accepts the property subject to, and agrees to be bound by, any and all of the <br />restrictions, covenants and limitations set forth in this Declaration. <br /> <br />1. Recitals. The recitals set forth above are true and correct and incorporated <br />herein by this reference. <br /> <br />2. Affordabilitv Covenants. Declarant covenants that the entire dwelling containing <br />6 beds, or one hundred percent (100%) of the transitional housing beds developed on <br />the Property (singularly, an "Affordable Bed," and collectively, the "Affordable Beds") <br />shall be maintained affordable as follows (the "Affordability Covenants"): <br /> <br />a) All six (6) of the affordable transitional beds shall be affordable for <br />persons or households earning fifty percent (50%) or below the area median <br />income ("AMI") per San Mateo County Department of Housing 2008 (and as <br />annually amended) Income Limits (as defined by HUD and the State of <br />California); and <br /> <br />ATTY/AGR/2008.073 <br />081108 <br />