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EXHIBIT 2 <br />Pagp 15 <br />• Review and approval of the documents evidencing the Agency Loan by the City <br />Council and/or Housing Authority, as applicable. <br />• Review and approval of the documents evidencing the Ground Lease by the Housing <br />Authority. <br />• Execution of HAP Contracts and all necessary documents for the PBV's. <br />• Project funding and PBV awards are predicated on the successful execution of a <br />99 -year Ground Lease Agreement by the Developer with the Housing Authority. <br />• Compliance with California Health and Safety Code and applicable regulations set <br />forth in Section 34176. <br />Developer, at its sole cost and expense, will be responsible for securing any and all <br />permits and discretionary approvals that may be required for the Project by the City, <br />Housing Authority, or any other federal, state, or local governmental entity having or <br />claiming jurisdiction over the Property or Project. Notably, this pre -commitment letter <br />shall not obligate the City or any department thereof to approve any application or request <br />for or take any other action in connection with any planning approval, permit or other <br />action necessary for the construction, rehabilitation, installation or operation of the <br />Project. <br />This pre -commitment letter for the Project will expire on January 15, 2021. <br />If you have any questions or require any additional information regarding this award letter, <br />please contact Judson Brown, Housing Division Manager, by telephone at (714) 667- <br />2241 or by e-mail at ibrown(cD-santa-ana.orq. <br />Sincerely, <br />Steven Mendoza <br />Housing Authority Executive Director <br />Attest: <br />Maria D. Huizar <br />Recording Secretary <br />3-17 <br />