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-2 - <br />E.Owner and City intend to carry out the purposes of California Government Code, <br />Chapter 1, Part 5 of Division 1 of Title 5, Article 12, Section 50280 et seq., which <br />will enable the Historic Property to qualify for an assessment of valuation as a <br />restricted historical property pursuant to Article 1.9, Sec. 439 et seq., Chapter 3 <br />Part 2 of Division 1 of the California Tax and Revenue Code. <br />NOW, THEREFORE, the City of Santa Ana and the Owner of the Historic Property <br />agree as follows: <br />1.Effective Date and Terms of Agreement. <br />This Agreement shall be effective and commence on February 16, 2022, and shall <br />remain in effect for a term of ten (10) years thereafter. Each year, upon the anniversary of the <br />effective date of this Agreement, such initial term will automatically be extended as provided in <br />California Government Code Sections 50280 through 50290 and in Section 2, below. <br />2.Renewal. <br />a.Each year on the anniversary of the effective date of this Agreement, a year shall <br />automatically be added to the initial ten (10) year term of this Agreement unless written notice of <br />nonrenewal is served as provided herein. <br />b.If the Owner or the City desire(s) in any year not to renew the Agreement, the <br />Owner or City shall serve written notice of nonrenewal of the Agreement on the other party. <br />Unless such notice is served by the Owner to the City at least ninety (90) days prior to the annual <br />renewal date, or served by the City to the Owner at least sixty (60) days prior to the annual <br />renewal date, one (1) year shall automatically be added to the term of the Agreement as provided <br />herein. <br />c.Within 30 days from receipt of City’s notice of nonrenewal, the Owner may file a <br />written protest of City’s decision of nonrenewal. The City may, at any time prior to the annual <br />renewal date of the Agreement, withdraw its notice to the Owner of nonrenewal. <br />d.If either the Owner or the City serves notice to the other of nonrenewal in any <br />year, the Agreement shall remain in effect for the balance of the term then remaining, either from <br />its original execution or from the last renewal of the Agreement, whichever may apply. <br />3.Standards and Conditions for Historic Property. <br />During the term of this Agreement, the Historic Property shall be subject to the followi ng <br />conditions, requirements and restrictions: <br />a.Owner shall maintain the Historic Property in a good state of repair and shall <br />preserve, maintain, and, where necessary, restore or rehabilitate the property and its character- <br />defining features described in the “Historical Property Description” attached hereto, marked as <br />Exhibit B, notably the general architectural form, style, materials, design, scale, proportions, <br />organization of windows, doors, and other openings, textures, details, mass, roof line, porch an d <br />other aspects of the appearance of the exterior to the satisfaction of the City.