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MILLS ACT AGREEMENT <br /> 801 North Minter Street <br /> Santa Ana, CA 92701 <br /> if the City determines that the Owner have failed to restore or rehabilitate the property in the <br /> manner specified in Section 3 of this Agreement. If a contract is cancelled for these reasons, the <br /> Owner shall pay a cancellation fee to the County Auditor as set forth in Government Code <br /> Section 50286. This cancellation fee shall be a percentage (currently set at twelve and one-half <br /> (12 '/z) percent by Government Code Section 50286) of the current fair market value of the <br /> property at the time of the cancellation, as determined by the county assessor, without regard to <br /> any restriction imposed pursuant to this Agreement. <br /> b. If the Historic Property is destroyed by earthquake, fire, flood or other natural <br /> disaster such that in the opinion of the City Building Official more than sixty (60) percent of the <br /> original fabric of the structure must be replaced, this Agreement shall be canceled immediately <br /> because, in effect, the historic value of the structure will have been destroyed. No fee shall be <br /> imposed in the case of destruction by acts of God or natural disaster. <br /> c. If the Historic Property is acquired by eminent domain and the City Council <br /> determines that the acquisition frustrates the purpose of this Agreement, this Agreement shall be <br /> cancelled and no fee imposed, as specified in Government Code Section 50288. <br /> 6. Enforcement of Agreement. <br /> a. In lieu of and/or in addition to any provisions to cancel the Agreement as <br /> referenced herein, City may specifically enforce, or enjoin the breach of, the terms of the <br /> Agreement. In the event of a default, under the provisions to cancel the Agreement by Owner, <br /> the City shall give written notice to Owner by registered or certified mail, and if such a violation <br /> is not corrected to the reasonable satisfaction of the City Manager or designee within thirty (30) <br /> days thereafter, or if not corrected within such a reasonable time as may be required to cure the <br /> breach or default, or default cannot be cured within thirty (30) days (provided that acts to cure <br /> the breach or default may be commenced within thirty (30) days and shall thereafter be diligently <br /> pursued to completion by Owner), then City may, without further notice, declare a default under <br /> the terms of this Agreement and may bring any action necessary to specifically enforce the <br /> obligations of Owner growing out of the terms of this Agreement, apply to any court, state or <br /> federal, for injunctive relief against any violation by Owner or apply for such relief as may be <br /> appropriate. <br /> b. City does not waive any claim of default by the Owner if City does not enforce or <br /> cancel this Agreement. All other remedies at law or in equity which are not otherwise provided <br /> for in this Agreement or in City's regulations governing historic properties are available to City <br /> to pursue in the event that there is a breach of this Agreement. No waiver by City of any breach. <br /> or default under this Agreement shall be deemed to be a waiver of any other subsequent breach <br /> thereof or default hereunder. <br /> 7. Binding effect of Agreement. <br /> a. Owner hereby subjects the Historic Property, located at 801 North Minter <br /> Street, Assessor Parcel Number, 398-041-10, and more particularly described in Exhibit A, in <br /> _4_ <br />