Item 23 - Third Amendment to the Joseph House Loan Agreement and Affordable Housing Covena_20240530010439363

Home Browse Search

EXHIBIT 1 more than the shared bedrooms, subject to affordability requirements set forth in the Agreement. NOW THEREFORE, in consideration of the mutual and respective covenants and promises hereinafter contained and made, and subject to all of the terms and conditions of said Agreement, as amended by the First and Second Amendment to the Agreement, except as herein modified, the parties agree as follows: 1. Section 1. 1, Defined Terms, the first sentence of the definition of "Property" shall be amended in pertinent part to read as follows: "The Property is located in the City of Santa Ana, and shall be used to provide permanent housing with supportive services to homeless persons or Low Income families." 2. Section 5.4, Other Terms and Conditions of Loan, subsection (5) shall be amended to read as follows: "Failure of Developer or a subsequent owner to use the Property for the purpose of permanent housing with supportive services for homeless persons or Low Income households from the community." 3. Section 7.1, Use and Maintenance of the Property, subsection (B) shall be amended to read as follows: "Use the Property as a facility offering permanent housing with supportive services for homeless persons or Low Income households from the community, as detailed in the Developer's Plan attached hereto as Exhibit G-1 and incorporated herein by this reference." 4. Except as hereinabove modified in this Third Amendment, the terms of said Agreement shall remain in full force and effect. In the event of any conflict between the terms of this Third Amendment and the terms of the Agreement, as amended by the First and Second Amendments, the terms of this Third Amendment shall control. --signature page to follow- 55394.00101\42164031.1