RECORDING REQUESTED BY AND
WHEN RECORDED RETURN TO:
City Attorney
City of Alameda
2263 Santa Clara Avenue
Alameda, CA 94501
No fee for recording pursuant to
Government Code Section 27383
APN: 074-1356-023
AFFORDABLE HOUSING COVENANT
This Affordable Housing Covenant (“Covenant”) dated , is made by the City of Alameda, a municipal corporation (“Owner”), the fee owner of the real property, and the housing development improvements on the property located at 2350 Fifth Street, Alameda, CA 94501, Alameda County, State of California, as more particularly described on Exhibit A attached hereto and incorporated herein by reference (“Property”).
Owner, for itself and any successors-in-inte rest, transferees and assigns of the Property, hereby declares and covenants that the Property is restricted to the development and use as an “ Affordable Housing Development ”, as described in Exhibit B, attached hereto and incorporated herein by reference, as well as uses ancillary to such affordable housing.
The restrictions set out herein shall be covenants or restrictions running with the land and shall be enforceable against Owner and successors-in-interest, transferees and assigns who violate or continue a violation of this Covenant. Said restrictions shall be recorded as a lien against the Property in first position, and shall remain in first position, over all other agreements, covenants, or other matter of record on the Property for the duration of this Covenant. Said restrictions shall further be for the benefit of, and enforceable by, the California Department of Housing and Community Development.
Said restrictions shall further be for the benefit of, and enforceable by, the Department.
The Department is a third-party beneficiary with the right and privilege, but not the obligation, of enforcement.
This Covenant shall be binding, effective and enforceable commencing upon its recordation with the recorder of the County of Alameda and continuing for fifty-five (55) years from such date of recordation.
Date: ______________________
The City of Alameda, a municipal corporation
By: ____________________________
____________________________
City Manager
EXHIBIT “A”
LEGAL DESCRIPTION OF THE PROPERTY
The land referred to in this Affordable Housing Covenant is situated in the County of Alameda, City of Alameda, State of California, and is described as follows: Lot DD, as shown on the attached Map entitled “Map of Tract 7511-Bayport”, filed July 9, 2004, in Map Book 277, Pages 1 through 19, inclusive, Alameda County Records.
EXHIBIT “B”
AFFORDABLE HOUSING DEVELOPMENT
The below Area Median Income Limits shall apply to the Property for twenty (20) years from the date this Covenant is recorded. After said 20-year period has passed, the below limits shall no longer apply to the Property and only those restrictions set forth in the main section of the Covenant, above, shall apply.