2020-090 -Approving a Disposition and Development Agreement

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THIS GRANT OF EASEMENTS AND RECIPROCAL ACCESS, PARKING OPERATION AND MAINTENANCE AGREEMENT ("Parking Agreement') is dated for reference purposes only as of and made and entered into by and between the City of Santa Ana, a California charter city in the County of Orange of the State of California (the "City"), and Caribou Industries, Inc. a Nevada Corporation (the "Developer") (collectively, the "Parties," and each a "Party"). The Parties enter into this Agreement with reference to the following recited facts (collectively, the "Recitals," and each a "Recital'): RECITALS A. City and Developer have entered into a Disposition and Development Agreement, dated October 5, 2020 for references purposes only, (the "DDA") for the development of the Property with a Mixed Use Project including apartments, commercial (including retail and food/beverage establishments), a seventy-five (75) room Hotel Project and a Parking Structure which will contain 444 total parking spaces including 211 public parking spaces ("Project'). B. Pursuant to the DDA, the City will convey to Developer the real property generally located at 201 West 3rd Street, Santa Ana, CA 92701 and as more particularly described in the legal description(s) attached to this Agreement as Exhibit "A" and depicted as APN 398-264-13 on the site plan attached to this Agreement as Exhibit "F" to the DDA (the "Property"). C. City is the Owner of "Parcel A" as shown on Exhibit B, which is incorporated herein by this reference which contains 211 public parking spaces. ("Public Parking Parcel') D. Developer is the owner of the Mixed Use Project, which contains 171 residential units, as shown on "Parcel B" which contains 196 parking spaces. ("Mixed Use Parking") E. Developer is the owner of the Hotel Project, which contains seventy five (75) hotel units, as shown on "Parcel C" which contains eighty-three (83) parking spaces which are accomplished by tandem parking spaces as well as the use of mechanical lifts. ("Hotel Parking") F. The Public Parking Parcel, the Mixed Use Parking and Hotel Parking are shown on Exhibit b, which is incorporated herein by this reference. G. Mixed Use Parking and Hotel Parking may be referred to together as "Developer Parking Parcels." ("Developer Parking Parcels") H. Public Parking Parcel, Mixed Use Parking and Hotel Parking may be referred to together as "Parking Structure". I. The City and Developer desire to enter into this Panting Agreement to set forth with specificity the accessibility and parking obligations applicable to the Parking Structure. ARTICLE 1 PARTIES; EFFECTIVE DATE 1.1 Incorporation of Recitals. The City and Developer agree that all of the above recitals are true and correct and are hereby incorporated into this Parking Agreement. Page 2 of 14 55394.00049\33221248.8