Recordation of Regulatory Agreement. This Regulatory Agreement shall be recorded in the office of the county recorder of the City and County of San Francisco, California, and shall be recorded in the grantor-grantee index under the name of the Owner as grantor and to the name of the City as grantee.
Recordation of Regulatory Agreement. This HIP Rental Agreement shall be recorded in the land records of the County, such recordation to be effected at the direction of the County.
Recordation of Regulatory Agreement. At the close of escrow, SCH would be required to execute and record against the Property a regulatory agreement, the form of which is attached to the DDA (the “Regulatory Agreement”). The Regulatory Agreement would impose certain operating and maintenance obligations on SCH, including the requirement that the mobile home spaces at the Park be leased, in perpetuity, to lower income households, and that the lease rates be in accordance with the County’s Mobile Home Rent Adjustment Ordinance. The Regulatory Agreement would also require that SCH enter into with each new owner at the Park form lease agreement for a mobile home space (a “New Lease”) which, among other provisions, would prohibit the owner fi-om leasing or renting his or her unit to other persons, and a resale agreement with an option to purchase (“Resale Agreement”) (described more in paragraph F below). The Regulatory Agreement would require SCH to and manage each Resale Agreement to ensure that mobile home units are not sold in violation of the Resale Agreement. The forms of the New Lease and Resale Agreement are attached to the Regulatory Agreement. The Regulatory Agreement would further provide that the Agency must approve SCH’s management agent for the Park, and would enable the Agency to require that the management agent be removed in the event the agent fails to maintain the Park as required by the Regulatory Agreement.
