Laserfiche WebLink
INSURANCE NOT REQUIRED <br />WORK MAY PROCEED <br />CLERK OF COUNCIL <br />SEP 6 4 2014ECORDING REQUESTED BY <br />(a AND WHEN RECORDED MAIL TO: <br />StiNu- C-° -" City of Santa Ana <br />20 Civic Center Plaza <br />Santa Ana, California 92701 <br />Attention: City Clerk <br />L_�W0 L <br />A-2016-022-01 <br />To be recorded without fee. (Space Above This Line For Recorder's Use Only) <br />(Government Code, §§ 6103 and 27383) <br />TERMINATION OF INCLUSIONARY HOUSING AGREEMENT <br />THIS TERMINATION OF INCLUSIONARY HOUSING AGREEMENT is dated as <br />of , 2019 ("Effective Date"), by and between the CITY <br />OF SANTA ANA, a charter city and municipal corporation organized and existing <br />under the Constitution and laws of the State of California ("City"), THE LINE AT <br />SANTA ANA, LLC, a Delaware limited liability company ("Developer"), and <br />OKTOGON SANTA ANA, LLC, a Delaware limited liability company ("Owner"). <br />RECITALS <br />A. Owner is the fee owner of the property located at 3630 W. Westminster, <br />Santa Ana, California ("Property"). <br />B. Owner acquired the Property from Developer on June 12, 2019. <br />C. Developer and City executed that certain Inclusionary Housing Agreement <br />for Payment of In -Lieu Fee, which was recorded against the Property on <br />March 29, 2016, in the Official Records of the County of Orange, as <br />Instrument No. 2016000132237 ("Inclusionary Housing Agreement'). <br />D. Article 2, Section II of the Inclusionary Housing Agreement required that, <br />"In lieu of providing any Inclusionary Units, the Developer shall pay to the <br />City the sum of $1,221,437.20 prior to obtaining the first building permit <br />related to the Project." <br />E. Developer submitted the full In -Lieu Fee payment of $1,221,437.20 to the <br />City on April 5, 2017. <br />Termination of Inclusionary Housing Agreement Page 1 <br />City of Santa Ana <br />