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Recording Requested By <br />First American Title Company <br />Riverside Resale <br />RECORDING REQUESTED BY AND <br />WHEN RECORDED MAIL TO: <br />REDEVELOPMENT AGENCY OF <br />THE CITY OF RIVERSIDE <br />3900 Main Street, 5th Floor <br />Riverside, CA 92522 <br />Attn: Housing Manager <br />Project: Down Payment <br />Assistance Program <br />APN: 233- 233 - 003 -05 <br />DOC # 2010- 0627886 <br />12/30/2010 03:40P Fee:NC <br />Page 1 of 12 <br />Recorded in Official Records <br />County of Riverside <br />Larry W. Ward <br />Assessor, County Clerk $ Recorder <br />1111111111111111111111111111111111111111111111111 <br />S <br />I R <br />I U <br />PAGE <br />I SIZE <br />DA <br />MISC <br />LONG <br />I RFD COPY <br />M <br />A <br />i <br />4E5 <br />426 <br />PCOR <br />NCOR <br />SME' <br />NCHG EXAM <br />UNI <br />T. <br />CTY <br />AGREEMENT AND COVENANTS, CONDITIONS T <br />AND RESTRICTIONS AFFECTING REAL PROPERTY 065 <br />INCLUDING OWNER - OCCUPANCY RESTRICTION <br />THIS AGREEMENT AND COVENANTS, CONDITIONS AND RESTRICTIONS <br />AFFECTING REAL PROPERTY INCLUDING OWNER - OCCUPANCY RESTRICTION <br />( "Agreement ") is entered into this,�� day of December, 2010 (the "effective date "), by and <br />between the REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, a public body <br />corporate and politic, ( "Agency ") and Sheila Lane Simmons and Tracee Eva Irene Simmons, as <br />joint tenants in common ( "Owners "), with reference to the following facts: <br />RECITALS <br />WHEREAS, the Agency has approved and implemented a Down Payment Assistance <br />Program ( "Program "), under which the Agency will provide a subsidy to Eligible Persons and <br />Families towards the purchase of a residence. The Agency intends that the subsidy, a deferred - <br />payment mortgage loan, provided by the Program will assist first time homebuyers who are Eligible <br />Persons and Families to purchase residential property for owner - occupancy at affordable housing <br />cost; and <br />WHEREAS, the Program will be funded with money from Agency's low and moderate <br />income housing set aside fund as described in Health & Safety Code section 33334.2 ( "Fund "); and <br />WHEREAS, the Owners are the initial owners of the certain real property known as 3335 <br />Arapahoe Street, Riverside, CA 92503 (the "Property "), which is described on Exhibit A attached <br />hereto and incorporated herein by reference, which will benefit from the Program; and <br />WHEREAS, the Agency and the Owners have agreed to impose certain continuing <br />obligations related to and on the Property; and <br />