NORTH HARBOR HOUSING PARTNERS, LP (CO JAMBOREE HOUSING CORPORATION (2)

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ti�x1 Q12 P IF., VW -Ol11RFD ' 'OCE1= 0 ,UUh'"i RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of Santa Ana Clerk of the Council 20 Civic Center Plaza (M-30) P.O. Box 1988 Santa Ana, Califomia 92702 Attention: Clerk of the Council A-2021-054-01 Nc5_ gOF-141 _ SPACE ABOVE THIS LINE FOR RECORDING USE AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY (1108 North Harbor Boulevard, Santa Ana, California) THESE AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY (the "Restrictions") are entered into as of April 20, 2021, by and among and North Harbor Housing Partners LP, (referred to herein as the "Developer") a California limited partnership, and the City of Santa Ana, a charter city and municipal corporation (the "City"). RECITALS: A. Developer is the owner of that certain real property located at 1108 North Harbor Boulevard, (the "Property") located in the City of Santa Ana more particularly described in Exhibit A, which is attached hereto and incorporated herein by this reference. B. The City is the recipient of Community Development Block Grant ("CDBG") funds from HUD pursuant to Tile I of the Housing and Community Development Act of 1974, as amended ("Act") and 24 CFR Part 570 ("CDBG Regulations"). C. The City is authorized by the CDBG Regulations to expend funds to increase the supply of low- and moderate -income housing available at affordable housing costs. D. Developer is entering into this agreement to acquire and, subject to entitlement approvals, rehabilitate an adaptive reuse project for the purpose of providing eighty-nine (89) units of housing that will be affordable to Extremely -Low Income households ("Assisted Units"), the Developer and the City have entered into that certain Loan Agreement, dated on or about the date hereof (the "Loan Agreement') to which these Restrictions are attached as Exhibit F, which, along with all of its attachments, is incorporated herein by this reference (any capitalized term that is not otherwise defined in these Restrictions shall have the meaning ascribed to such term in the Loan Agreement).