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INSURANCE NOT REIUIRED <br />WORK MAY PROCEED <br />sr. <br />2 5C2018 IL <br />OFFICIAL BUSINESS <br />f, � DNV Document entitled to no <br />pwty: e f�roj?recording fee per Government <br />Code Section 6103 <br />Recording Requested by and When <br />Recorded Return to: <br />C&C DEPOT COMMERCIAL LLC <br />c/o C & C Development Co., LLC <br />14211 Yorba St., Ste. 200 <br />Tustin, CA 92780. <br />APN: 398-202-13 <br />A-2018-235-02 <br />Lr <br />SPACE ABOVE THIS LINE FOR RECORDER'S USE <br />PARTIAL RELEASE AND TERMINATION OF CITY OF SANTA ANA LOAN <br />AGREEMENT AND AFFORDABILITY RESTRICTIONS <br />(Depot at Santiago) <br />This Partial Release and Termination (this "Release") is entered into as of <br />October _, 2018, by and between Depot at Santiago, L.P., a California limited <br />partnership (the "Developer"), and the City of Santa Ana, a charter city and municipal <br />corporation (the "City"), with respect to that certain real property located in the City of <br />Santa Ana, County of Orange, State of California, more particularly described in the <br />attached Exhibit A (the "Released Property") and with reference to the following facts: <br />A. That certain Loan Agreement between the City and the Developer, dated <br />July 11, 2013, was recorded in the Official Records of Orange County ("Official <br />Records") as Instrument No. 2013000476765 on August 9, 2013, as modified (the <br />"Loan Agreement"). <br />B. That certain Affordability Restrictions on Transfer of Property between the <br />City and the Developer, dated July 11, 2013, was recorded in the Official Records as <br />Instrument No. 2013000476766 on August 9, 2013, as modified (the "Affordability <br />Restrictions"). <br />C. The Developer is now transferring the Released Property to a new owner <br />for use as commercial space and the City and the Developer agree that the Released <br />Property no longer needs to be subject to the Loan Agreement and the Affordability <br />Restrictions. <br />NOW, THEREFORE, it is hereby declared and understood as follows: <br />City Release <br />1076\49\2456931.1 <br />