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EXHIBIT 3 <br />RFCORDTNG RFOTTT:STFD BY <br />AND WHEN RF.CORDF,D RF,TURN TO_ <br />City of Santa Ana <br />Clerk of the Council <br />20 Civic Center Plaza (M-30) <br />P.O_ Box 19ss <br />Santa Arta, California 92702 <br />Attention: Clerk of the Council <br />SPACL ABOVE THIS L1NL IOR RLCORD11vG USE. <br />FIZF:F.12FCORDING' RI-.OUFSIED <br />[Government Code Section 61031 <br />AFFORDABILITY RESTRICTIONS <br />ON 'TRANSFER OF PROPERTY <br />(1 l Os North Harbor Boulevard, Santa Ana, Califomia) <br />THESE AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY <br />(the "Restriction,") are entered into as of April 20, 202 L by and among and North I ]arbor <br />(lousing Partners LP, (referred to herein as the "Dcvclopci") a California limited <br />partnership, and the Cily of Santa Ana, a charter city and municipal corporation (the <br />..City") _ <br />RLCITALS: <br />A_ Developer is the owner of that certain real property located at 1 109 Not <br />Harbor Boulevard, (the "Property") located in the City of Santa Ana more partieularly <br />described in Exhibit A. which is attaached hereto and incorporated herein by this rdcrenec. <br />H. I he (.'ity is the recipient of Community Development Block Grant <br />("CDBG") funds from HIM pursuant to Tile T of the Housing and C'nnumunity <br />Dcvelopnrcnt Act of 1974, as amended ("Act") and 24 CFR Part 570 (" CDBG <br />Rcgtllations" ). <br />C. The City is authorized by the CT)BG Regulations to expend fiords to increase <br />the. supply of low- and moderatc-incomc housing available at affordable housing cot . <br />D. Developer is entering into this 'lgrecmcnt to acquire and, subject to <br />entitlerncnt approvals, rehabilitate an adaptive reuse project for the purpose of providing <br />eighty-nine (R9) units of housing lhal will be affordable to Fxlremely-Low Income <br />hnuscholds ("Assisted Units"), the Developer and the City have entered into that certain <br />Loan Agreement, dated on or about the date hercot (the "Loan Agreement") to which <br />these Restrictions are attached as Exhibit F, which, along with all of its attachments, is <br />incorporated herein by this reference (any capitalized term that is not otherwise defined in <br />dress Resrictions shall have the meaning ascribed to such tenrr in the Loan Aurccment). <br />City Council 21 — 85 4/20/2021 <br />