38074.00014\34925378.2
1 Recording requested by
And when recorded mail to:
City of Pleasant Hill
100 Gregory Lane
Pleasant Hill, CA 94523
Attention: Community Development Director
Exempt from recording fees pursuant to
Cal. Gov't Code § 27383
______________________________________________________________________________ APN:
AFFORDABLE HOUSING REGULATORY AGREEMENT
This Affordable Housing Agreement (“Agreement”) dated _____________, 2022 (“Effective Date”), is entered into between the CITY OF PLEASANT HILL, a municipal corporation (“City”) and The Post Preservation LP, a California limited partnership (“Developer”).
RECITALS
The following recitals are a substantive part of this Agreement.
A. Developer is the owner of that certain real property located in the City of Pleasant Hill, County of Contra Costa, State of California, more particularly described in Exhibit A attached hereto (“Property”).
B. The Property is the site of a 70-unit residential development (with a separate manager’s unit) located in the City of Pleasant Hill at 1460 Contra Costa Boulevard (“Housing Project”). The Developer is acquiring the Housing Project and intends to restrict no fewer than fifty percent (50%) of the units contained in the Housing Project (35 units) at rental prices affordable to certain income groups as specified herein. The Property is being acquired by Developer in order to create and preserve affordable housing in the City.
C. The Housing Project is intended to serve as a community resource by providing decent, safe and sanitary housing for households who would otherwise be unable to afford such housing. The City has agreed to provide Developer with a loan in the principal amount of Ten Thousand Dollars ($10,000) in order to create and preserve the Housing Project as affordable housing (the “Loan”), which Loan is evidenced by a promissory note by Developer in favor of the City (the “Note”), and secured by a Deed of Trust to be recorded against the Property (the “Deed of Trust”).
D. As further consideration for the Loan and to further the public interests of the City in seeing the Property maintained as affordable housing, Developer has agreed to enter into and record this Agreement against the Property in the Official Records of Contra Costa County. The 38074.00014\34925378.2
2 purpose of this Agreement is to regulate and restrict the occupancy, rent, operation, ownership and management of the Property for the benefit of Project occupants and the people of the City. The covenants in this Agreement are intended to run with the land and binding on Developer and Developer’s successors to the land for the full term of this Agreement.
NOW THEREFORE, the parties acknowledge and agree as follows:
ARTICLE 1. DEFINITIONS
1.01 “Affordable Rent” is the product of 30 percent times 80 percent of the Area Median Income, as defined in Section 1.03 and adjusted for family size appropriate for the applicable unit, less a utility allowance based on the utility allowance schedule published from time to time by the Housing Authority of the County of Contra Costa. For purposes of this Section
1.01 “adjusted for family size appropriate to the unit” shall mean a household of two persons in the case of a one-bedroom unit, three persons in the case of a two-bedroom unit, and five persons in the case of a three-bedroom unit.
1.02 “Applicable Laws” means all applicable laws, ordinances, statutes, codes, orders, decrees, rules, regulations, official policies, standards and specifications (including any ordinance, resolution, rule, regulation standard, official policy, condition, or other measure) of the United States, the State of California, the County of Contra Costa, City of Pleasant Hill, or any other political subdivision in which the Housing Project is located, and of any other political subdivision, agency or instrumentality exercising jurisdiction over the Developer or the Housing Project.
1.03 “Area Median Income” shall mean the median income for households in Contra Costa County, California, as published from time to time by the United States Department of Housing and Urban Development (“HUD”) in a manner consistent with the determination of median gross income under Section 8 of the United States Housing Act of 1937, as amended, and as defined in Title 25, California Code of Regulations, Section 6932. In the event that such income determinations are no longer published by HUD, or are not updated for a period of at least 18 months, the City shall provide the Developer with other income determinations that are reasonably similar with respect to methods of calculation to those previously published by HUD.
1.04 “Eligible Households” shall mean households meeting the income restrictions as set forth in Section 2.01.
ARTICLE 2. RENT, INCOME AND OCCUPANCY RESTRICTIONS
2.01 Rent and Income Restrictions. Not less than fifty percent (50%) of the residential units constructed on the Property (excluding the manager’s unit) shall be available and rented to Eligible Households whose gross income does not exceed eighty percent (80%) of the Area Median Income at an Affordable Rent (the “Affordable Units” and each a “Affordable Unit”).
At the time any lease is executed or renewed, (i) no less than one (1) person per bedroom shall be allowed, (ii) no more than three (3) persons shall be permitted to occupy a one (1) bedroom Affordable Unit, (iii) no more than five (5) persons shall be permitted to occupy a two (2) bedroom 38074.00014\34925378.2
3 Affordable Unit, and (iv) no more than seven (7) persons shall be permitted to occupy a three (3) bedroom Affordable Unit. At the request of Developer, consent to which shall not be unreasonably withheld, conditioned or delayed, City may make exceptions to the foregoing occupancy standards to the extent such exceptions are permitted by Applicable Laws, and do not increase City's obligations or liabilities under this Agreement, or diminish or impair City's rights and remedies under this Agreement.
Not more than once per year, Developer may adjust rents in occupied Affordable Units to the level allowed for the family size appropriate to the unit. Developer may adjust the rent upon vacancy of an Affordable Unit to the level allowed for the family size appropriate to the unit.
Developer must notify each tenant and City in writing of any increase in monthly rent for an Affordable Unit at least thirty (30) days in advance of the effective rent adjustment date. The written notice of rent increase provided to City shall indicate: (1) the rent adjustment for each Affordable Unit; (2) the new rental amount for each Affordable Unit; and (3) the effective date of the adjustment for each Affordable Unit. Failure to provide the notice required shall be considered a failure to perform by Developer under this Agreement and subject to the terms of Article 11.
The determination of a status as an Eligible Household shall be made by Developer prior to initial occupancy of the Affordable Unit by such household; provided that, if Developer fails to perform any term or provision of this Agreement related to the determination of status of an Eligible Household, as reasonably determined by City, then until such failure has been cured and upon written request by City, such determination shall be subject to review and approval by City.
The income of all persons residing in the Affordable Unit shall be considered for purposes of calculating the household income. Developer shall not discriminate against prospective tenants with qualified Public Housing Authority Section 8 certificates or vouchers who are otherwise qualified.
If an occupant of an Affordable Unit no longer qualifies as an Eligible Household under Section 2.01 due to an increase in income, the occupant may continue to occupy the Affordable Unit, and such unit shall still be considered an Affordable Unit; provided, however, Developer shall rent the next available comparable unit within the Housing Project (i.e., same number of bedrooms and bathrooms) as an Affordable Unit to an occupant who qualifies as an Eligible Household under Section 2.01, and the original Affordable Unit shall thereafter no longer be considered an Affordable Unit. If an occupant of an Affordable Unit no longer qualifies as an Eligible Household due to an increase in income, the occupant may continue to occupy the former Affordable Unit; provided, however, Developer may increase the rental rate for such former Affordable Unit to market rate, but only after the next available comparable unit has been rented at an Affordable Rent to an Eligible Household.
2.02 Designation of Affordable Units. The appearance, materials, finished quality and amenities of the Affordable Units shall be comparable to the market rate rental units within the Housing Project.
2.03 Initial Designation of Affordable Units.
Developer shall, within six (6) months of the Effective Date of this Agreement, provide the City with the specific units within the Housing Project that are designated as the Affordable Units, and 38074.00014\34925378.2
4 at that time shall provide the City with information consistent with the annual reporting requirements set forth in Article 3 below to document that all the Affordable Units are occupied by an Eligible Household in accordance with this Agreement.
ARTICLE 3. REPORTING REQUIREMENTS FOR HOUSING PROJECT
3.01 Reporting Requirements. Developer shall submit an annual report and income certification to the City. The report, at a minimum, shall include:
(a) The number of persons per Affordable Unit;
(b) Name of each Affordable Unit Tenant;
(c) Initial occupancy date;
(d) Rent paid per month; and
(e) Gross income per year of Household.
Such information shall be reported to the City in accordance with the City’s annual compliance monitoring program for affordable housing, as it may be amended from time to time at the City’s reasonable discretion, and in a format as may be reasonably requested by City.
Annual income recertifications shall also contain those documents used to certify eligibility. City, from time to time during the term of this Agreement, may request additional or different information, if such information is required in order for the City to comply with its reporting requirements, and Developer shall promptly supply such additional or different information in the reports required hereunder. Developer shall maintain all necessary books and records, including property, personal and financial records, in accordance with requirements prescribed by the City with respect to all matters covered by this Agreement. Developer, at such time and in such forms as City may require, shall furnish to City statements, records, reports, data and information pertaining to matters covered by this Agreement. Upon reasonable advance request for examination by City, Developer, at any time during normal business hours, shall make available all of its records with respect to all matters covered by this Agreement. Developer shall permit City to audit, examine and make excerpts or transcripts from these records at City's sole cost.
The first annual report and annual income certification (“Initial Report”) shall be submitted to the City within thirty (30) days of the date of the initial rental of all the Affordable Units on the Property. Subsequent annual reports and annual income certifications or recertifications shall be submitted to the City on the anniversary date of submittal of the Initial Report.
3.02 City Approval of Lease Forms. In its reasonable discretion, City shall have the right to review and approve Developer’s form of lease for the Affordable Units, including disclosures of the affordability restrictions on the Affordable Units, prior to Developer’s use of such form.
ARTICLE 4. PROVISION OF SERVICES AND MAINTENANCE OF PROPERTY 38074.00014\34925378.2
5 4.01 Maintenance. During the term of this Agreement, Developer shall maintain, or cause to be maintained, the Property, including all improvements thereon, in a manner consistent with the provisions set forth therefor in the Pleasant Hill Municipal Code, and shall keep the entire Property free from any accumulation of debris or waste materials prior to and after acquisition and rehabilitation.
If, at any time, Developer fails to maintain the Property in accordance with the requirements set forth in this Section 4.01, and has either failed to commence to cure such condition or to diligently prosecute to completion the condition or the condition is not corrected after expiration of sixty (60) days from the date of written notice from the City to the Developer, City may perform the necessary corrective maintenance, and Developer shall pay such costs as are reasonably incurred for such maintenance. The City shall have the right to place a lien on the Property should Developer not reimburse City for such costs within sixty (60) days following City's written demand for reimbursement of such costs. Developer, on behalf of itself, its heirs, successors and assigns, hereby grants to City and its officers, employees and agents, an irrevocable license to enter upon the Property to perform such maintenance during normal business hours after receipt of written notice from City and Developer's failure to cure or remedy such failure within sixty (60) days of such notice. Any such entry shall be made only after reasonable advance written notice to Developer, and City shall indemnify and hold Developer harmless from any claims or liabilities pertaining to any such entry by City. Failure by Developer to maintain the Property in the condition provided in this Article 4 may, in City's reasonable discretion, constitute a default under this Agreement.
ARTICLE 5. RESERVED
ARTICLE 6. NO DISCRIMINATION
Developer covenants, by and for itself and any successors in interest, that there shall be no discrimination against or segregation of any person or group of persons on account of any basis listed in subdivision (a) or (d) of Section 12955 of the Government Code, as those bases are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of subdivision (p) of Section 12955, and Section 12955.2 of the Government Code, in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the Property, nor shall Developer, itself or any person claiming under or through it, establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, subleases or vendees in the Property.
ARTICLE 7. NO IMPAIRMENT OF LIEN
No violation or breach of the covenants, conditions, restrictions, provisions or limitations contained in this Agreement shall defeat or render invalid or in any way impair the lien or charge of any ground lease or memorandum thereof, mortgage, deed of trust or other financing or security instrument; provided, however, that any successor of Developer to the Property and Housing Project shall be bound by such covenants, conditions, restrictions, limitations and provisions, whether such successor's title was acquired by foreclosure, deed in lieu of foreclosure, trustee's sale or otherwise.
38074.00014\34925378.2
6 ARTICLE 8. DURATION
The covenants contained in Articles 2, 3, 4 and 5 of this Agreement shall be deemed to run with the Property and Housing Project until the date which is ten (10) years following the Effective Date. Notwithstanding the foregoing, this Agreement shall immediately terminate without the need for further action on the part of the City in the event the Property does not qualify for welfare exemption under Section 214(g) of the California Revenue and Taxation Code and the Loan shall immediately become due and payable. The covenants against discrimination contained in Article 6 of this Agreement shall run with the land in perpetuity.
ARTICLE 9. SUCCESSORS AND ASSIGNS
The covenants contained in the Agreement shall be binding upon Developer and its heirs, successors and assigns, and such covenants shall run in favor of the City and its successors and assigns for the entire period during which such covenants shall be in force and effect, without regard as to whether the City is or remains an owner of any land or interest therein to which such covenants relate. In the event of any breach of any such covenants, or breach of any of Developer’s obligations under this Agreement, City and its successors and assigns shall have the right to exercise all of the rights and remedies, and to maintain any actions at law or suits in equity or other proper proceedings to enforce the curing of such breach. The covenants contained in the Agreement, without regard to technical classification and designation, shall be for the benefit of and shall be enforceable only by the City, and its successors and assigns.
ARTICLE 10. SUBORDINATION AGREEMENT
So long as the Loan remains outstanding, this Agreement shall have priority over the liens of all mortgages, deeds of trust and other liens (other than the lien for current, unpaid property taxes) and Developer shall cause all such mortgagees, deed of trust beneficiaries and other lien holders to execute and deliver to City for recordation in the Official Records of Contra Costa County, a subordination agreement, in a form reasonably acceptable to City, subordinating such mortgages, deeds of trust and other liens to this Agreement thereby ensuring the priority of this Agreement over all such mortgages, deeds of trust and other liens. Notwithstanding the subordination provisions set forth herein, the City may, in its sole discretion, subordinate this Agreement.
ARTICLE 11. DEFAULT
Any failure by Developer to perform any term or provision of this Agreement shall constitute a “Default” (1) if Developer does not cure such failure within thirty (30) days following written notice of default from City, or (2) if such failure is not of a nature which can be cured within such thirty (30) day period, Developer does not commence substantial efforts to cure the failure within thirty (30) days and thereafter prosecute to completion with diligence and continuity the curing of such failure. Any notice of default given under this Agreement shall identify the nature of the failure in performance which City claims constitutes the Default and the manner in which such Default may be satisfactorily cured. Any failure or delay by City in asserting any of 38074.00014\34925378.2
7 its rights or remedies, including specific performance, as to any Default shall not operate as a waiver of any Default or of any such rights or remedies or deprive City of its right to institute and maintain any actions or proceedings which it may deem necessary to protect, assert or enforce any such rights or remedies.
ARTICLE 12. NOTICES, DEMANDS AND COMMUNICATIONS
Any approval, disapproval, demand, document or other notice to be provided under this Agreement shall be given in writing and shall be sent: (a) for personal delivery by a delivery service that provides a record of the date of delivery, the individual to whom delivery was made, and the address where delivery was made; (b) by first-class certified United States mail, postage prepaid, return receipt requested; or (c) by a nationally recognized overnight courier service and marked for next day business delivery. All notices shall be addressed to the party to whom such notice is to be given at the property address stated herein or to such other address as a party may designate by written notice to the other. Any written notice, demand or communication shall be deemed received: (a) immediately if delivered by personal delivery as provided hereinabove; (b) on the third (3rd) day from the date it is postmarked if delivered by first-class mail, postage prepaid, return receipt requested; and (c) on the next business day if sent via nationally recognized overnight courier and marked for next day business delivery. Notices sent by a party's attorney on behalf of such party shall be deemed delivered by such party.
To City: City of Pleasant Hill
100 Gregory Lane
Pleasant Hill, CA 94523
Attention: Community Development Director
With a copy to:
Best Best & Krieger LLP
2001 N. Main Street, Ste. 390
Walnut Creek, CA 94596
Attention: Janet E. Coleson
To Developer: The Post Preservation LP
1990 North California Blvd, Suite 800
Walnut Creek, CA 94596
Attention: Novin Development Corp.
38074.00014\34925378.2
8 With a copy to:
Downs Pham & Kuei LLP
235 Montgomery Street, 30th Floor
San Francisco, CA 94104
Attention: Tuan A. Pham
[email protected]
With a copy to:
David Lott
JLL Real Estate Capital, LLC
28050 US Highway 19 N Suite 500
Clearwater, FL 33761
Tel: (727) 437-4917
[email protected]
ARTICLE 13. ATTORNEYS’ FEES
In any action or proceeding which either party brings against the other to enforce its rights hereunder, the unsuccessful party shall pay all costs incurred by the prevailing party, including reasonable attorneys' fees, which amounts shall be a part of the judgment in any action or proceeding.
ARTICLE 14. RECORDATION OF AGREEMENT
Immediately following the Effective Date, this Agreement and the Notice of Affordability Restrictions on Transfer of Property in the form attached hereto as Exhibit B, shall be recorded against the Property in the Official Records of Contra Costa County.
ARTICLE 15. COMPLIANCE MONITORING FEE
Developer acknowledges and agrees that the City is obligated to monitor compliance with this Agreement on an annual basis and, therefore, agrees to pay City for a portion of its administrative costs for such monitoring by paying to City an annual monitoring fee in the amount of One Hundred Fifty Dollars ($150.00) per unit per year, payable on the initial date of occupancy and each year on the anniversary date of the initial date of occupancy.
ARTICLE 16. MISCELLANEOUS
Each party agrees to cooperate with the other in the implementation and administration of this Agreement and, in that regard, shall execute any and all documents which may be reasonably necessary, helpful, or appropriate to carry out the purposes and intent of this Agreement. This Agreement may be signed in multiple counterparts which, when signed by all parties, shall 38074.00014\34925378.2
9 constitute a binding agreement. The words “include” and “including” shall be construed as if followed by the words “without limitation.” All exhibits and attachments hereto are incorporated by reference as though fully restated herein. This Agreement shall be interpreted as though prepared jointly by both parties, and shall be construed in accordance with and be governed by the laws of the State of California. If any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby. A waiver by either party of a breach of any of the covenants, conditions or agreements hereunder to be performed by the other party shall not be construed as a waiver of any succeeding breach of the same or other covenants, agreements, restrictions or conditions hereof. No waiver by City of any of the conditions hereof shall be effective unless in writing expressly identifying the scope of the waiver and signed on behalf of an authorized official of City. Any alteration, change or modification of or to the Agreement, in order to become effective, shall be made in writing and in each instance signed on behalf of each party hereto.
[SIGNATURES ON FOLLOWING PAGE]
38074.00014\34925378.2
10 IN WITNESS WHEREOF, the City and Developer have caused this Agreement to be executed on their behalf by their respective officers thereunto duly authorized, on the Effective Date first above written.
DEVELOPER::
The Post Preservation LP, a California limited
partnership
By:
Iman Novin
President
[Signature must be notarized]
CITY:
CITY OF PLEASANT HILL, a municipal
corporation
By:
June Catalano
City Manager
[Signature must be notarized]
APPROVED AS TO FORM:
_____________________________
Janet E. Coleson
City Attorney
38074.00014\34925378.2
NOTARY ACKNOWLEDGMENTS
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.
STATE OF CALIFORNIA )
) ss:
COUNTY OF ___________ )
On ____________________, _______, before me, ______________________________, Notary Public personally appeared ________________________________________________ who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are 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.
Signature__________________________
38074.00014\34925378.2
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.
STATE OF CALIFORNIA )
) ss:
COUNTY OF ___________ )
On ____________________, _______, before me, ______________________________, Notary Public personally appeared ________________________________________________ who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are 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.
Signature__________________________
38074.00014\34925378.2
EXHIBIT A
Description of Property
Real property in the City of Pleasant Hill, County of Contra Costa, State of California, Portion of the Rancho Monte del Diablo, described as follows:
Beginning at a point on the East line of the state highway between Pacheco and Walnut Creek at the Southwestern corner of the parcel of land described in the deed from William H. Gelbke, et ux, to Vincent Covione, et ux, dated December 4, 1943, recorded December 17, 1943, in Book 764 of Official Records of Contra Costa County, Page 313; thence from said point of beginning along the Southern line of said Covione parcel (764 OR 313), North 78° 30' East 300.00 feet; thence South 11° 30' East 210.00 feet to a point on the Northern line of the parcel of land described in the deed from William H. Gelbke, et ux, to Peter Massolo, et ux, dated January 5, 1945, recorded January 20, 1945, in Book 813 of Official Records of Contra Costa County, Page 82; thence along the North line of the said Massolo parcel (813 OR 82), South 78° 29' 55" West 300 feet, more or less, to a point on the East line of the state highway; thence North 12° West 210 feet, more or less, to the point of beginning.
APN: 127-050-070-3
38074.00014\34925378.2
EXHIBIT B
Notice of Affordability Restrictions on Transfer of Property [attached]
38074.00014\34925378.2
1 RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
City of Pleasant Hill
100 Gregory Lane
Pleasant Hill, CA 94523
Attention: Community Development Director
Exempt from recording fees pursuant to
Cal.Gov't Code Section 27383
Space Above This Line For Recorder's Use Only
NOTICE OF AFFORDABILITY RESTRICTIONS
ON TRANSFER OF PROPERTY
(Note: Above Title and text below must remain in 14-point type or larger) Important notice to owners, purchasers, tenants, lenders, brokers, escrow and title companies, and other persons, regarding affordable housing restrictions on the real property described in this Notice: Restrictions have been recorded with respect to the property described below (referred to in this Notice as the “Property”) which restrict the price and terms at which the Property may be sold or rented. These restrictions may limit the sales price or rents of the Property to an amount which is less than the fair market value of the Property. These restrictions also limit the income of persons and households who are permitted to purchase and rent the Property.
Title of Document Containing Affordable Housing Restrictions:
Affordable Housing Regulatory Agreement (referred to in this Notice as the “Affordable Housing Restrictions”).
Parties to Affordable Housing Restrictions:
City of Pleasant Hill (“City”) and
The Post Preservation LP, a California limited partnership (“Owner”).
The Affordable Housing Restrictions are recorded: (check one) 38074.00014\34925378.2
2 as Document No. ______________________, official records of Contra Costa County, on ___________________, 20__; or
concurrently with this Notice, official records of Contra Costa County.
Legal Description of Property:
See Exhibit A (Attached hereto)
Street Address of Property: 1460 Contra Costa Blvd, Pleasant Hill, CA.
Assessor's Parcel Number of Property: 127-050-070-3
Summary of Affordable Housing Restrictions (check as applicable):
The Affordable Housing Restrictions restrict the amount of rent which may be charged for the rental housing unit or units on the Property, as follows:
50% of the units on the Property are rented for 30% of maximum annual income for households whose gross income does not exceed the applicable income level set forth below, adjusted for household size less a utility allowance.
The Affordable Housing Restrictions restrict the sales price which may be charged for the sale of the ownership housing unit or units on the Property, as follows:
________________________________________.
The Affordable Housing Restrictions restrict the income level of the tenant or buyer of the Property, as follows:
80% of Area Median Income as to 35 units. As defined in Section1.03, “Area Median Income” shall mean the median income for households in Contra Costa County, California, as published from time to time by the United States Department of Housing and Urban Development in a manner consistent with the determination of median gross income under Section 8 of the United States Housing Act of 1937, as amended, and as defined in Title 25, California Code of Regulations, Section 6932.
Term of Restrictions: _10 years, commencing on _____________ and terminating on _______________.
38074.00014\34925378.2
3 This Notice does not contain a full description of the details of all of the terms and conditions of the Affordable Housing Restrictions. You will need to obtain and read the Affordable Housing Restrictions to fully understand the restrictions and requirements which apply to the Property. In the event of any conflict between the terms of this Notice and the terms of the Affordable Housing Restrictions, the terms of the Affordable Housing Restrictions shall control.
This Notice is being recorded and shall be indexed against the City and the current Owner of the Property.
CITY OF PLEASANT HILL:
Dated: , 20__ By:
June Catalano
City Manager
OWNER:
Dated: , 20__ The Post Preservation LP, a California
Limited Partnership
By:
Iman Novin
President
38074.00014\34925378.2
ACKNOWLEDGMENTS
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.
STATE OF CALIFORNIA )
) ss:
COUNTY OF ___________ )
On ____________________, _______, before me, ______________________________, Notary Public personally appeared ________________________________________________ who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are 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.
Signature__________________________
38074.00014\34925378.2
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.
STATE OF CALIFORNIA )
) ss:
COUNTY OF ___________ )
On ____________________, _______, before me, ______________________________, Notary Public personally appeared ________________________________________________ who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are 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.
Signature__________________________
38074.00014\34925378.2
Exhibit A of Notice of Affordability Restrictions on Transfer of Property
EXHIBIT A
LEGAL DESCRIPTION OF THE PROPERTY
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF PLEASANT
HILL, COUNTY OF CONTRA COSTA, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS:
Beginning at a point on the East line of the state highway between Pacheco and Walnut Creek at the Southwestern corner of the parcel of land described in the deed from William H. Gelbke, et ux, to Vincent Covione, et ux, dated December 4, 1943, recorded December 17, 1943, in Book 764 of Official Records of Contra Costa County, Page 313; thence from said point of beginning along the Southern line of said Covione parcel (764 OR 313), North 78° 30' East 300.00 feet; thence South 11° 30' East 210.00 feet to a point on the Northern line of the parcel of land described in the deed from William H. Gelbke, et ux, to Peter Massolo, et ux, dated January 5, 1945, recorded January 20, 1945, in Book 813 of Official Records of Contra Costa County, Page 82; thence along the North line of the said Massolo parcel (813 OR 82), South 78° 29' 55" West 300 feet, more or less, to a point on the East line of the state highway; thence North 12° West 210 feet, more or less, to the point of beginning.
APN: 127-050-070-3