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1 <br />The Crossroads at Washington <br />City HOME Affordability Restrictions on Transfer of Property <br />RECORDING REQUESTED BY <br />AND WHEN RECORDED RETURN TO: <br /> <br /> <br />City of Santa Ana <br />Clerk of the Council <br />20 Civic Center Plaza (M-30) <br />P.O. Box 1988 <br />Santa Ana, California 92702 <br />Attention: Clerk of the Council <br /> <br /> SPACE ABOVE THIS LINE FOR RECORDING USE <br /> FREE RECORDING REQUESTED <br /> [Government Code Section 6103] <br /> <br /> <br />AFFORDABILITY RESTRICTIONS <br />ON TRANSFER OF PROPERTY <br />(1126, 1136 & 1146 East Washington Avenue, Santa Ana, California) <br /> <br /> THESE AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY <br />(the “Restrictions”) are entered into as of June 21, 2022, by and between and Washington <br />Santa Ana Housing Partners, L.P., a California limited partnership (“Developer”), and the <br />City of Santa Ana, a charter city and municipal corporation (“City”). <br /> <br />RECITALS: <br />A. The Housing Authority of the City of Santa Ana (“Housing Authority”) owns one <br />parcel located at 1136 East Washington Avenue (APN 398-092-14) totaling approximately <br />1.43 acres of land area (“Housing Authority Parcel”). The County of Orange (“County”) <br />owns an adjacent parcel (APN 398-092-13) totaling approximately 0.85 acres of land area <br />(“County Parcel”). The two parcels will be merged into one parcel (“Property”) and co- <br />owned by the Housing Authority and the County as Tenants-In-Common.. The Property <br />is located in the City of Santa Ana, more particularly described in Exhibit A, which is <br />attached hereto and incorporated herein by this reference. <br />B. The Housing Authority and the County will ground lease the Property to the <br />Developer for sixty-two (62) years from the Certificate of Completion, but no more than sixty- <br />five (65) years from the date of execution of the Ground Lease. <br />C. The Developer and the City have entered into that certain Loan Agreement, dated <br />on or about the date hereof (“Loan Agreement”), for the purpose of providing eighty-six <br />(86) units of housing that will be affordable to Extremely Low Income, Very Low Income, <br />and Low Income households (“Restricted Units”), with one un-restricted unit reserved for <br />an on-site manager, to which these Restrictions are attached as Exhibit F (any capitalized <br />term that is not otherwise defined in these Restrictions shall have the meaning ascribed to <br />such term in the Loan Agreement). <br />EXHIBIT 5