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RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: ) <br />Redevelopment Agency of the ) <br />City of Riverside ) <br />3 900 Main Street, 2" Floor ) <br />Riverside, CA 92522 ) <br />Attn: Housing Project Manager <br />} <br />Project: Indiana Avenue ) <br />(Space above for Recorder's Use Only) <br />This document is exempt from the payment of a recording fee <br />pursuant to Government Code Section 6103, <br />RELEASE OF CONSTRUCTION COVENANTS <br />THIS RELEASE OF CONSTRUCTION COVENANTS ( "Release ") is hereby made <br />as of this24thday of November , 2010, by the REDEVELOPMENT AGENCY OF THE <br />CITY OF RIVERSIDE, a public body corporate and politic (the "Agency ") and the CITY OF <br />RIVERSIDE, a California municipal corporation (the "City "), on the one hand, in favor of <br />RIVERSIDE HOUSING DEVELOPMENT CORPORATION, a California nonprofit public <br />benefit corporation ( "Developer "), on the other hand. <br />RECITALS <br />A. The Agency, City, Authority and the Developer have entered into that certain <br />Disposition and Development Agreement by and between the City, Agency, the Housing <br />Authority of the City of Riverside and Developer dated for identification purposes as of October <br />7, 2008 (the "Agreement "). <br />B. Pursuant to the Agreement, the Agency and the Developer entered into that <br />certain Regulatory Agreement (Housing Fund) dated November 14, 2008. <br />C. Pursuant to the Agreement, the City and the Developer entered into that certain <br />Regulatory Agreement (HOME /SHP) dated November 14, 2008. <br />C. The Agreement provides for the completion of certain improvements (the <br />"Project ") to certain real property (the "Site ") situated in the City of Riverside California, and <br />more particularly described on Exhibit "A" attached hereto and made a part hereof by this <br />reference. Capitalized terms used herein and not otherwise defined shall have the meaning set <br />forth in the Agreement. <br />D. As required in the Agreement and the above referenced Regulatory Agreements, <br />the Agency and City shall furnish the Developer with a Release of Construction Covenants upon <br />completion of the Project which Certificate shall be in such form as to permit it to be recorded in <br />the Riverside County Recorder's Office. <br />