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CD 1200 Irwin Street Project BMR Amendment�j l I[Illl 1111 111[1 VIII illi 111 la 111V lilll1111111111[lll {lIN 111111[1 2018-0022024 Recorded R.EC FEE 0.00 RECORDING REQUESTED BY ort Cou^Ry orrds AND WHEN RECORDED MAIL TO: Marin RICHARD N. BENSON Assessor -Recorder City of San Rafael County Cleric a Attn: City Clerk 01:33PM79-Jun-2028 Page 1 of 7 1400 Fifth Avenue San Rafael, CA 94901 No fee for recording pursuant to Government Code Section 27383 (SPACE ABOVE THIS LINE FOR RECORDER'S USE) AMENDMENT TO BELOW MARKET RATE HOUSING AGREEMENT AND DECLARATION OF RESTRICTIVE COVENANTS Project Name: Mission Irwin Carriage Houses Location: 1200 Irwin Street -524 Mission Avenue, San Rafael (APN 014-013-05) Developer: 524 Mission Street, LLC This Amendment to Below Market Rate Housing Agreement and Declaration of Restrictive Covenants (this "Amendment") is made and entered into as of August 14, 2017, among the CITY OF SAN RAFAEL, a municipal corporation ("City"), the HOUSING AUTHORITY OF THE COUNTY OF MARIN, a public body, corporate and politic, created under the Housing Authority Law of the State of California ("Marin Housing Authority"), and 524 MISSION STREET, LLC, a California limited liability company, or any successor in interest ("Developer"), collectively the "Parties," with reference to the following: RECITALS A. The Developer is the owner of certain real property located at 1200 Irwin Street, San Rafael, County of Marin, California, which is more particularly described in attached Exhibit A incorporated herein by this reference (the "Property"). B. The Parties entered into that certain Below Market Rate Housing Agreement and Declaration of Restrictive Covenants dated May 20, 2016 and recorded July 26, 2016 as Instrument Number 2016-0033359 in the Official Records of the County of Marin (the "BMR Agreement"). C. Under the BMR Agreement, the Developer has determined to initially rent the Affordable Units and to record a BMR Rental Agreement against the Property. D. The Parties desire to amend the BMR Agreement to ensure that the BMR Agreement and the BMR Rental Agreement are consistent and will require the Developer to sell the Affordable Units in the future as provided in the BMR Agreement. The Amendment to Below Market Rate Housing Agreement and Declaration of Restrictive Covenants that will be recorded on the Property is in the form approved by the San Rafael City Council on July 17, 2017. 885\010620421 6/301_'017 1L43W RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: City of San Rafael = RECEIVE® Attn: City Clerk 1400 Fifth Avenue AUG 2 4 2011 San Rafael, CA 94901 PLANNING . No fee for recording pursuant to ** Government Code Section 27383 (SPACE ABOVE THIS LINE FOR RECORDER'S USE) AMENDMENT TO BELOW MARKET RATE HOUSING AGREEMENT AND DECLARATION OF RESTRICTIVE COVENANTS Project Name: Mission Irwin Carriage Houses Location: 1200 Irwin Street -524 Mission Avenue, San Rafael (APN 014-013-05) Developer: 524 Mission Street, LLC This Amendment to Below Market Rate Housing Agreement and Declaration of Restrictive Covenants (this "Amendment") is made and entered into as of August 14, 2017, among the CITY OF SAN RAFAEL, a municipal corporation ("City"), the HOUSING AUTHORITY OF THE COUNTY OF MARIN, a public body, corporate and politic, created under the Housing Authority Law of the State of California ("Marin Housing Authority"), and 524 MISSION STREET, LLC, a California limited liability company, or any successor in interest ("Developer"), collectively the "Parties," with reference to the following: RECITALS A. The Developer is the owner of certain real property located at 1200 Irwin Street, San Rafael, County of Marin, California, which is more particularly described in attached Exhibit A incorporated herein by this reference (the "Property"). B. The Parties entered into that certain Below Market Rate Housing Agreement and Declaration of Restrictive Covenants dated May 20, 2016 and recorded July 26, 2016 as Instrument Number 2016-0033359 in the Official Records of the County of Marin (the "BMR Agreement"). C. Under the BMR Agreement, the Developer has determined to initially rent the Affordable Units and to record a BMR Rental Agreement against the Property. D. The Parties desire to amend the BMR Agreement to ensure that the BMR Agreement and the BMR Rental Agreement are consistent and will require the Developer to sell the Affordable Units in the future as provided in the BMR Agreement. The Amendment to Below Market Rate Housing Agreement and Declaration of Restrictive Covenants that will be recorded on the Property is in the form approved by the San Rafael City Council on July 17, 2017. 885\0 1 \21 16204'.1 6/30/2017 E. All capitalized terms not otherwise defined in this Amendment are as defined in the BMR Agreement. NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, the Parties agree as follows: I . The Recitals set forth above are hereby incorporated into this Agreement by the Parties as if fully and completely rewritten below 2. Section 13 of the BMR Agreement is hereby amended to read as follows: Section 13. Release of Property from Agreement (a) Covenant Running with the Land The covenants and conditions herein contained shall apply to and bind, during their respective periods of fee ownership, Developer and its heirs, executors, administrators, successors, transferees, and assignees having or acquiring any right, title or interest in or to any part of the Property and shall run with and burden the Property until terminated in accordance with this Section 13. Until the Property is released from the burdens of this Agreement pursuant to this Section 13, the owners of fee title to the Property shall expressly make the conditions and covenants contained in this Agreement a part of any deed or other instrument conveying any interest in the Property. (b) Completion of Construction. (i) Affordable Units on Separate Parcels; Subdivision Public Report Issued. If: (A) all Affordable Units have received a certificate of occupancy or final inspection; (B) all Affordable Units are located on separate legal parcels; (C) the Developer has complied with the provisions of this Agreement; and (D) a subdivision public report has been issued under Business & Professions Code Section 11000 et seq. or successor provisions, then all parts of the Property except the Affordable Unit Property may be released from the burdens of this Agreement. (ii) Affordable Units to be Rented. If the Affordable Units are to be rented, then the BMR Rental Agreement shall be recorded against the Property, and the Property may not be released from the burdens of this Agreement and the BMR Rental Agreement until the expiration of the Density Bonus Term, as defined in the BMR Rental Agreement. (c) Affordable Units Offered for Sale If the Affordable Units are initially offered for sale, each Affordable Unit offered for sale shall be released from the burdens of this Agreement when it is: (i) sold to an Eligible Household in compliance with this Agreement; and (ii) a Resale Agreement, Deed of Trust and Request for Notice of Default are recorded against the Affordable Unit. Upon sale of all of the Affordable Units to Eligible Households as prescribed in this Agreement or offered for sale to the Housing Authority pursuant to Section 7(g), the entire Property shall be released from this Agreement, and the Agreement shall be released from record against all portions of the Property. (d) Recordation of Release. If the Developer believes that any portion of the Property may be released from the burdens of this Agreement, the Developer shall specify the parcels to be released and shall request the City and the Marin Housing Authority to execute and S85\01\2162042.1 6/30/2017 record the release in the Official Records of Marin County in substantially the form attached as Exhibit "E" to this Agreement. 3. Except as modified by this Amendment, the BMR Agreement shall be unchanged and shall remain in full force and effect 3. This Amendment may be signed in counterparts, each of which shall constitute one and the same instrument. IN WITNESS WHEREOF, the Parties have executed this Amendment by duly authorized representatives, all on the date first written above. DEVELOPER: CITY: 524 Mission Street LLC, a California limited City of San Rafael, a municipal corporation liability company By: By: Managing Member rim chutz anager ATTEST: MARIN HOUSING AUTHORITY: 4RitherBeirne, City Clerk LJ nasaY lA1rcL Housing Authority of the County of Marin, a public body, corporate and politic, created under the Housing Authority Law of the ate of California APPROVED AS TO FORM: By: F Lewis A. Jor i4obertFin Execu ' Director City Attorney 3 885\01\2162042.1 6/30/2017 record the release in the Official Records of Marin County in substantially the form attached as Exhibit "E" to this Agreement. 3. Except as modified by this Amendment, the BMR Agreement shall be unchanged and shall remain in full force and effect 3. This Amendment may be signed in counterparts, each of which shall constitute one and the same instrument. IN WITNESS WHEREOF, the Parties have executed this Amendment by duly authorized representatives, all on the date first written above. DEVELOPER: 524 Mission Street LLC, a California liability Gotr�j an By: c. Ph is S�tiao7� anaging Member MARIN HOUSING AUTHORITY: CITY: limited City of San Rafael, a municipal corporation UZ City Manager APPROVED AS TO FORM: Housing Authority of the County of Marin, a public By: body, corporate and politic, created under the City Attorney Housing Authority Law of the State of California By: Executive Director 3 885\0I12162042. I 6/30/2017 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 COUNTY OF M A V('K On 21 20( before me, C"pNotary Public, personally appe ed i_ w(!5 AA( , who proved to me on the basis of satisfactory evidence to be the person(jr) whose name(s) islafe subscribed to the within instrument and acknowledged to me that he/&he{twey executed the same in his/he4Hteir authorized capacitykies), and that by his/Arrhtre4f signature(' on the instrument the persorj(s}, or the entity upon behalf of which the person(# 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. Name: �, z Notary Public CAROL J. KAZARIA14 f; Commission # 2070835 s Z .'.n Notary Public - California z Marin County My Comm. Expires Jun 15, 2018 885\01 \2162012.1 6/30/2017 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 COUNTY OF MaVtVI On before me, l.�t � IA NI C7. , Notary Public, personally appears �G rG�C ' CkYMCi. , who proved to me on the basis of satisfactory evidence to be the ersonXwhose nameA s e s bscribed to the within inst ment and acknowledged to me that y�t�y executed the same in s er/tl/r authorized capacity(i s), and that by is , /tq�ir signature�on the instrument the person , or the entity u on behalf of which the P person(Xacted, 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. Notary Public 885\01\-) 162042.1 6/30/2017 ACKNOWLEDGMENT 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 County of Marin On 4 `1 '1 1 zo 1 before me, Lindsay Faye Lara, Notary Public (insert name and title of the officer) personally appeared J angf-s sCylu-t-7— who proved to me on the basis of satisfactory evidence to be the person(g) whose name( is/are subscribed to the within instrument and acknowledged to me that he/s4eA-hey executed the same in his/he4l eirauthorized capacity(ies), and that by his/her/thtr signatureH on the instrument the person(•, or the entity upon behalf of which the person(*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. LINDSAY FAYE LA - !A -COMM. #2182818 z Notary Public . California o z Marin County o Signature1;(ilZc. (Seal) es Feb. 1o, 2021 EXHIBIT A LEGAL DESCRIPTION OF THE PROPERTY The land referred to is situated in the County of Marin, City of San Rafael, State of California, and is described as follows: Commencing at the corner formed by the intersection of the Northerly line of Mission Street with the Easterly line of Irwin Street; running thence Northerly along the Easterly line of Irwin Street 160 feet; running thence Easterly and parallel with Mission Street 165 feet to the Westerly line of Park Avenue thence Southerly along said Line of Park Avenue 160 feet, more or less, to the Northerly line of Mission Street, and thence Westerly along said last mentioned line of Mission Street, 165 feet to the point of commencement. 885\0I \2162042.1 6/30/3017 RAN A 2 yo ,rY WITH p 00 CONTRACT ROUTING FORM INSTRUCTIONS: Use this cover sheet to circulate all contracts for review and approval in the order shown below. TO BE COMPLETED BY INITIATING DEPARTMENT PROJECT MANAGER: Contracting Department: Community Development Project Manager: Raffi Boloyan Extension: x3095 Contractor Name: Mission Irwin Carriage Houses — BMR agreemet #2 (not a contract, a BMR agreement) Contractor's Contact: Click here to enter tey` Contact's Email: Click here to enter text. ❑ FPPC: Check if Contractor/Consultant must file Form 700 Step RESPONSIBLE DESCRIPTION COMPLETED REVIEWER DEPARTMENT DATE Check/Initial 1 Project Manager a. Email PINS Introductory Notice to Contractor n/a KI ('lick here to b. Email contract (in Word) & attachments to City cant °r I• 4yh Atty c/o Laraine.Gittens@cityofsanrafael.org El 2 City Attorney a. Review, revise, and comment on draft agreement xRAX and return to Project Manager ( Aicgc/4�rjcjtu b. Confirm insurance requirements, create Job on cntcr a datc Project Manager PINS, send PINS insurance notice to contractor N/A 3 Forward three (3) originals of final agreement to 8/4/2017 ❑ contractor for their signature 4 Project Manager When necessary, * contractor -signed agreement agendized for Council approval 7/17/2017 *PSA > $20,000; or Purchase > $35,000; or Public Works Contract > $125,000 Date of Council approval PRINT CONTINUE ROUTING PROCESS WITH HARD COPY 5 Project Manager Forward signed original agreements to City 2/15/18 RB Attorney with printed copy of this routing form 6 City Attorney Review and approve hard copy of signed agreement 7 City Attorney Review and approve insurance in PINS , and bonds r/ City Manager/ Mayor (for Public Works Contracts) yV„ 8 Agreement executed by Council authorized official I Attest signatures, retains original agreement and 9 City Clerk forwards copies to Project Manager L7 I I -t R4--O-� Ix- bz&t�-- i RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: City of San Rafael Attn: City Clerk 1400 Fifth Avenue San Rafael, CA 94901 No fee for recording pursuant to Government Code Section 27383 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIDIIIIIIIIIIIIIIIVIIIIIIIIIII 2018-0027214 Recorded REC FEE 0.00 Official Records County of Marin RICHARD N. BENSON Assessor -Recorder County (Jerk 03:14PM 31 -Jul -2018 Page I of (SPACE ABOVE THIS LINE FOR RECORDER'S USE) AMENDMENT TO BELOW MARKET RATE HOUSING AGREEMENT AND DECLARATION OF RESTRICTIVE COVENANTS Project Name: Mission Irwin Carriage Houses Location: 1200 Irwin Street -524 Mission Avenue, San Rafael (APN 014-013-05) Developer: 524 Mission Street, LLC This Amendment to Below Market Rate Housing Agreement and Declaration of Restrictive Covenants (this "Amendment") is made and entered into as of August 14, 2017, among the CITY OF SAN RAFAEL, a municipal corporation ("City"), the HOUSING AUTHORITY OF THE COUNTY OF MARIN, a public body, corporate and politic, created under the Housing Authority Law of the State of California ("Marin Housing Authority"), and 524 MISSION STREET, LLC, a California limited liability company, or any successor in interest ("Developer"), collectively the "Parties," with reference to the following: RECITALS A. The Developer is the owner of certain real property located at 1200 Irwin Street, San Rafael, County of Marin, California, which is more particularly described in attached Exhibit A incorporated herein by this reference (the "Property"). B. The Parties entered into that certain Below Market Rate Housing Agreement and Declaration of Restrictive Covenants dated May 20, 2016 and recorded July 26, 2016 as Instrument Number 2016-0033359 in the Official Records of the County of Marin (the "BMR Agreement"). C. Under the BMR Agreement, the Developer has determined to initially rent the Affordable Units and to record a BMR Rental Agreement against the Property. D. The Parties desire to amend the BMR Agreement to ensure that the BMR Agreement and the BMR Rental Agreement are consistent and will require the Developer to sell the Affordable Units in the future as provided in the BMR Agreement. The Amendment to Below Market Rate Housing Agreement and Declaration of Restrictive Covenants that will be recorded on the Property is in the form approved by the San Rafael City Council on July 17, 2017. 885\01\2116204-2.1 6/30/2017 E. All capitalized terms not otherwise defined in this Amendment are as defined in the BMR Agreement. NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, the Parties agree as follows: 1. The Recitals set forth above are hereby incorporated into this Agreement by the Parties as if fully and completely rewritten below 2. Section 13 of the BMR Agreement is hereby amended to read as follows: Section 13. Release of Property from Agreement (a) Covenant Runnint with the Land The covenants and conditions herein contained shall apply to and bind, during their respective periods of fee ownership, Developer and its heirs, executors, administrators, successors, transferees, and assignees having or acquiring any right, title or interest in or to any part of the Property and shall run with and burden the Property until terminated in accordance with this Section 13. Until the Property is released from the burdens of this Agreement pursuant to this Section 13, the owners of fee title to the Property shall expressly make the conditions and covenants contained in this Agreement a part of any deed or other instrument conveying any interest in the Property. (b) Completion of Construction. (i) Affordable Units on Separate Parcels; Subdivision Public Report Issued. If: (A) all Affordable Units have received a certificate of occupancy or final inspection; (B) all Affordable Units are located on separate legal parcels; (C) the Developer has complied with the provisions of this Agreement; and (D) a subdivision public report has been issued under Business & Professions Code Section 11000 et seq. or successor provisions, then all parts of the Property except the Affordable Unit Property may be released from the burdens of this Agreement. (ii) Affordable Units to be Rented. If the Affordable Units are to be rented, then the BMR Rental Agreement shall be recorded against the Property, and the Property may not be released from the burdens of this Agreement and the BMR Rental Agreement until the expiration of the Density Bonus Term, as defined in the BMR Rental Agreement. (c) Affordable Units Offered for Sale. If the Affordable Units are initially offered for sale, each Affordable Unit offered for sale shall be released from the burdens of this Agreement when it is: (i) sold to an Eligible Household in compliance with this Agreement; and (ii) a Resale Agreement, Deed of Trust and Request for Notice of Default are recorded against the Affordable Unit. Upon sale of all of the Affordable Units to Eligible Households as prescribed in this Agreement or offered for sale to the Housing Authority pursuant to Section 7(g), the entire Property shall be released from this Agreement, and the Agreement shall be released from record against all portions of the Property. (d) Recordation of Release. If the Developer believes that any portion of the Property may be released from the burdens of this Agreement, the Developer shall specify the parcels to be released and shall request the City and the Marin Housing Authority to execute and 885\01\2162042.1 6/30/2017 record the release in the Official Records of Marin County in substantially the form attached as Exhibit "E" to this Agreement. 3. Except as modified by this Amendment, the BMR Agreement shall be unchanged and shall remain in full force and effect 3. This Amendment may be signed in counterparts, each of which shall constitute one and the same instrument. IN WITNESS WHEREOF, the Parties have executed this Amendment by duly authorized representatives, all on the date first written above. DEVELOPER: CITY: 524 Mission Street LLC, a California limited City of San Rafael, a municipal corporation liability c %i-- T By: C By: S a 11'P Para,; Si�rMManaging Member ity Manager MARIN HOUSING AUTHORITY: APPROVED AS TO FORM: Housing Authority of the County of Marin, a public By:l_ `y )� 1) 'Irl L ---L body, corporate and politic, created under the C' y Attorney Housing Authority Law of the State of California By: S' "fie v Executive Director 3 885\01\21620 42.1 6/30/2017 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`, COUNTY OF r 1� On ( before me, �_ &AIAI� , Notary Public, personally appeared , who proved to me on the basis of satisfactory evidence to be the erson whose narneW is e subscribed to the within instrument and ackn edged�to me that e/ /y executed the same in his 'J�" eir authorized capacity(ie ,and that by Is/ the r signature on the instrument the person , or the entity upon behalf of which the person( eacted, 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. ZDALIA RAMIR7N2aQ212f M. #2ZPublic •arin CoName: Exnirac^~ Notary Public 885\01\-) 163042.1 6/30/2017 record the release in the Official Records of Marin County in substantially the form attached as Exhibit "E" to this Agreement. 3. Except as modified by this Amendment, the BMR Agreement shall be unchanged and shall remain in full force and effect 3. This Amendment may be signed in counterparts, each of which shall constitute one and the same instrument. IN WITNESS WHEREOF, the Parties have executed this Amendment by duly authorized representatives, all on the date first written above. DEVELOPER: CITY: 524 Mission Street LLC, a California limited City of San Rafael, a municipal corporation liability company By: By: A— s S ho�-.:L- M• naging Member J m Schutz MARIN HOUSING AUTHORITY: Housing Authority of the County of Marin, a public body, corporate and politic, created under the Housing Aut its the State of California By - Lewis A. Jordan Executive Director 3 885\01\2162042,1 6/30/2017 ty Manager ATTEST: � ,City Clerk Li h ct S0.Y LOW(�� APPR VED AS TO FORM: By:M6 Robert F. Epstein City Attorney ACKNOWLEDGMENT 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 County of Marin On -[ 1 L-? 1241 �) before me, Lindsay Faye Lara, Notary Public (insert name and title of the officer) personally appeared J r'ilry-I leS SLh l A'>j 'L , who proved to me on the basis of satisfactory evidence to be the person(i' whose name(, -4 is/ate subscribed to the within instrument and acknowledged to me that he/sheA#tey executed the same in his/hefA#eir authorized capacity(ies), and that by his/her -/t signature(s� on the instrument the person($), or the entity upon behalf of which the person(g) 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 r LINDSAY FAYE URA o COMM. #2182818 z 0: Notary Public • California -0 Z Marin County ° (Seal) I Conan. Wift Feb. 10 2021 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 COUNTY OF MA 614 On 010 , before me, _[iLirDl T �4:M 1AK , Notary Public, personally appeare <<<C, A. Tr�a , who proved to me on the basis of satisfactory evidence to be the person(p) whose name(w) is/.are subscribed to the within instrument and acknowledged to me that he/may executed the same in his/lofk4teir authorized capacity(tes), and that by his/weir signature(g) on the instrument the person(a), or the entity upon behalf of which the person(A 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. ' °. , CAROL J. KAZARIAN, Notary Public - California _` " = Marin County Commission # 2243153 Name: %l irol . 1 7-A r i Q K r `"°•'� SMy Comm. Expires Jun 15, 2022 8 85\0 1 \21 162042.1 6/30/2017 Notary Public EXHIBIT A LEGAL DESCRIPTION OF THE PROPERTY The land referred to is situated in the County of Marin, City of San Rafael, State of California, and is described as follows: Commencing at the corner formed by the intersection of the Northerly line of Mission Street with the Easterly line of Irwin Street; running thence Northerly along the Easterly line of Irwin Street 160 feet; running thence Easterly and parallel with Mission Street 165 feet to the Westerly line of Park Avenue thence Southerly along said Line of Park Avenue 160 feet, more or less, to the Northerly line of Mission Street, and thence Westerly along said last mentioned line of Mission Street, 165 feet to the point of commencement. HMO 1\2162041 1 6/30/2017 EXHIBIT E RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: City of San Rafael P.O. Box 151560 San Rafael, CA 94915-1560 Attn: Esther C. Beirne, City Clerk No fee for recording pursuant to Government Code Section 27383 (SPACE ABOVE THIS LINE FOR RECORDER'S USE) NOTICE OF RELEASE OF BELOW MARKET RATE HOUSING AGREEMENT This Notice of Release of Below Market Rate Housing Agreement (the "Notice") is made as of the _ day of , 200_, by the City of San Rafael, a municipal corporation (the "City"), and a ("Developer"). 1. This Notice relates to that certain Below Market Rate Housing Agreement by and between the City and the Developer dated and recorded in the Official Records of the County of Marin (the "Official Records") on as Document No. (the "Housing Agreement"). 2. The City and the Developer hereby release the real property described in Exhibit A attached hereto and incorporated herein from the encumbrance of the Housing Agreement. 3. This Notice may be signed in multiple counterparts, which, when signed by all parties, shall constitute a binding agreement. IN WITNESS WHEREOF, the City and the Developer have executed this Notice as of the day first above written. DEVELOPER: By: Its: CITY: CITY OF SAN RAFAEL, a municipal corporation By: Its: SIGNATURES MUST BE NOTARIZED