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EXHIBIT E <br />NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY <br />NOTICE IS HEREBY GIVEN that the CITY OF SANTA ANA, a charter city and municipal <br />corporation organized and existing under the Constitution and laws of the State of California, has <br />entered into a Density Bonus Agreement with , a <br />("Property Owner"). The Density Bonus Agreement imposes <br />income and affordability covenants on designated Affordable Units with the Project located at <br />, Santa Ana, Orange County, Assessor's Parcel Number <br />and further described in the legal description provided in Exhibit A to the <br />Density Bonus Agreement. <br />The Density Bonus Agreement was recorded as Document/Instrument Number <br />, and shall remain in effect until 20 <br />(Insert date of the termination of the Affordability Period). The Density Bonus Agreement <br />imposes the following income and affordability restrictions on the Affordable Units. <br />Number of Bedrooms Very -Low Low <br />Income Income <br />Households Households <br />Studio Units <br />One -Bedroom Units <br />Two -Bedroom Units <br />Three -Bedroom Units <br />Four -Bedroom Units <br />In the event the Property Owner wishes to sell or transfer the Project during the Affordability <br />Period, the City and the Property Owner shall execute and deposit into escrow this Notice of <br />Affordability Covenants on Transfer of the Property. The sale or transfer of the Property shall <br />not be effective unless and until the City and transferee execute the documents necessary to <br />transfer the Density Bonus Agreement obligations from the Property Owner to the transferee. <br />This Notice of Affordability Covenants on Transfer of the Property in no way modifies the <br />provisions of the Density Bonus Agreement. In the event of any conflict between this Notice of <br />Affordability Covenants on Transfer of the Property and the Density Bonus Agreement, the <br />terms of the Density Bonus Agreement shall prevail. <br />IN WITNESS WHEREOF, the Parties hereto have duly executed this Notice of Affordability <br />Restrictions on Transfer of Property as of the dates set forth below. <br />[Signatures on Following Pages] <br />