432.042/616243
RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
________________________
________________________
________________________
________________________
FIRST AMENDMENT TO REGULATORY AGREEMENT
(The Avalon Senior Housing Project)
THIS FIRST AMENDMENT REGULATORY AGREEMENT (this “Amendment”) is dated as of [_______________ ____], 2024, and is entered into by and between the City of Emeryville, as the successor to the Redevelopment Agency of the City of Emeryville (“Emeryville”), and Avalon Senior Housing, L.P., a California limited partnership (“Owner”).
FACTUAL BACKGROUND
A. On or about November 1998, Emeryville made a loan to Owner (“Loan”) in connection with Owner’s construction of the “Project” (capitalized terms used herein but not defined shall have the meanings ascribed thereto in the Original Regulatory Agreement, as hereinafter defined). In connection with the Loan, Emeryville and Borrower entered into that certain Regulatory Agreement December 4, 1998 as Document No. 98-426754, Official Records of Alameda County as modified by that Modification of Regulatory Agreement dated May 1, 2001 (the “Original Regulatory Agreement”), encumbering the Owner’s interest in the real property upon which the Project is situated, the legal description of which is attached hereto as Exhibit A.
B. The parties hereto desire to amend the Regulatory Agreement to reflect a change in occupancy and rent restrictions applicable to the Project.
AGREEMENT
NOW, THEREFORE, Emeryville and Owner hereby agree as follows:
1. Recital A of the Original Regulatory Agreement is hereby deleted and replaced with the following:
Docusign Envelope ID: C60CB2AE-B717-40F1-B2E3-3FE169DAF12B 432.042/616243
“A. Owner proposes to develop a sixty-seven (67) unit rental housing project (the "Project") at a site located in Emeryville, California at 3850 - 3872 San Pablo Avenue (as more particularly described in Exhibit A), of which all units shall be rented to senior citizens.”
2. Section 7 of the Original Regulatory Agreement is hereby deleted and replaced with the following:
7. “EMERYVILLE” means the City of Emeryville, a municipal corporation.
3. Section 11 of the Original Regulatory Agreement is hereby deleted and replaced with the following:
“11. “QUALIFYING HOUSEHOLD” means a household that meets the income restrictions in Exhibit B with at least one member of the household a “senior citizen” as defined in Civil Code Section 51.3”
4. Section 13 of the Original Regulatory Agreement is hereby deleted.
5. The last paragraph of Section 16 of the Regulatory Agreement is hereby deleted and replaced with the following:
“To the extent permitted by fair housing law, Owner shall give priority to Qualified Households who have been displaced as a result of the City of Emeryville’s or Emeryville Redevelopment Agency’s public projects or the City’s code enforcement activities.”
6. Exhibit B to the Regulatory Agreement is hereby deleted and replaced with Exhibit B attached hereto, provided, however, any change in the definition of Qualifying Household or Qualifying Rent resulting from the replacement of Exhibit B or any other amendment to the Original Regulatory Agreement included in this Amendment shall not apply to any tenants occupying the Property as of the effective date of this Amendment and shall only apply to tenancies commenced after the effective date of this Amendment.
7. The Amendment of the Original Regulatory Agreement by this Amendment shall not effect the priority of the Original Regulatory Agreement with respect to any interest on the Property as of the date of this Amendment.
8. Except as modified by this Amendment, the Regulatory Agreement remains unchanged and in full force and effect.
9. This Amendment may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. [SIGNATURES FOLLOW.]
Docusign Envelope ID: C60CB2AE-B717-40F1-B2E3-3FE169DAF12B 432.042/616243
EXECUTED as of the dated first above written.
EMERYVILLE:
City of Emeryville, a municipal Corporation
By: _____________________
Adam Politzer, Interim City Manager
APPROVED AS TO FORM:
By:______________________
John Kennedy, City Attorney
Docusign Envelope ID: C60CB2AE-B717-40F1-B2E3-3FE169DAF12B 432.042/616243
OWNER:
Avalon Senior Housing L.P.,
a California limited partnership
By: Avalon Housing, Inc.,
a California nonprofit public benefit corporation
its general partner
By: _______________________
Name: _______________________
Its: _______________________
Richard Quach
Secretary
Docusign Envelope ID: C60CB2AE-B717-40F1-B2E3-3FE169DAF12B 432.042/616243
EXHIBIT A
Legal Description
[attached]
Docusign Envelope ID: C60CB2AE-B717-40F1-B2E3-3FE169DAF12B 432.042/616243
EXHIBIT B
OCCUPANCY AND RENT RESTRICTIONS
Assisted Unit
Type
Number of
Assisted Units
Maximum Initial
Income Limit
Maximum Annual Rent
Studio 5 30% of AMI 30% of 30% of AMI
Studio 5 40% of AMI 30% of 40% of AMI
One Bedroom 7 30% of AMI 30% of 30% of AMI
One Bedroom 31 40% of AMI 30% of 40% of AMI
One Bedroom 12 50% of AMI 30% of 50% of AMI
Two Bedroom 1 30% of AMI 30% of 30% of AMI
Two Bedroom 4 40% of AMI 30% of 40% of AMI
Two Bedroom 1 50% of AMI 30% of 50% of AMI
Docusign Envelope ID: C60CB2AE-B717-40F1-B2E3-3FE169DAF12B 432.042/616243
ALL-PURPOSE ACKNOWLEDGMENT Civil Code §1189
State of California )
) ss.
County of__________________ )
On ______________, before me, _______________________________ Date Name and Title of Officer (e.g., “Jane Doe, Notary Public”) personally appeared ______________________________ Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person whose name(s) are/is subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
________________________________________________ Place Notary Seal Above Signature of Notary Public
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.
Docusign Envelope ID: C60CB2AE-B717-40F1-B2E3-3FE169DAF12B 432.042/616243
ALL-PURPOSE ACKNOWLEDGMENT Civil Code §1189
State of California )
) ss.
County of__________________ )
On ______________, before me, _______________________________ Date Name and Title of Officer (e.g., “Jane Doe, Notary Public”) personally appeared ______________________________ Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person whose name(s) are/is subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
________________________________________________ Place Notary Seal Above Signature of Notary Public
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.
Docusign Envelope ID: C60CB2AE-B717-40F1-B2E3-3FE169DAF12B