Item 18 - Permanent Supportive Housing Project at 918 Bewley Street

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(b)Code Compliance. Compliance with California Health and Safety Code and applicable regulations set forth in Section 34176. (c)Environmental Review. Compliance with and completion of environmental review of the Project pursuant to the California Environmental Quality Act (“CEQA”) and the National Environmental Policy Act (“NEPA”), and review by the State Historic Preservation Offices (“SHPO”). (d)Recordation of Regulatory Agreement. The ten (10) "Affordable Units" at the Project shall and will be rented to Qualified Homeless Youth and Qualified Seniors who qualify as Extremely Low Income and Very Low Income for an Affordable Rent for a period of fifty-five (55) years, in accordance with the Regulatory Agreement, which shall be recorded against the Project in the Official Records, County of Orange, California (“Official Records”), subject only to those matters of public record to which the City agrees to in writing. Grantee will have a local preference for individuals who live, work or attend public schools in the City of Santa Ana in the selection of eligible residents. (e)Recordation of the City Deed of Trust. The City Deed of Trust shall be recorded against the Property in the Official Records, subject only to those matters of public record to which the City agrees to in writing. (f)Insurance. City shall have received evidence satisfactory to the City Attorney that all of the policies of insurance required by Section 19 of this Agreement are in full force and effect. (g)Representations and Warranties. The representations and warranties of Grantee contained in this Agreement shall be correct in all material respects as of the date of disbursement as though made on and as of that date, and if requested by the City Project Manager, City shall have received a certificate to that effect signed by Grantee's Representative. (h)No Default. No Event of Default by Grantee shall have occurred, and no event shall have occurred which, with the giving of notice or the passage of time or both, would constitute an Event of Default by Grantee under this Agreement, and if requested by the City Project Manager, City shall have received a certificate to that effect signed by Grantee's Representative. (i)Satisfactory Progress. The City Project Manager shall be satisfied that, based on his/her own inspections or other reliable information, the construction is progressing satisfactorily in conformance with all applicable laws and other requirements. (j)Condition of Title. The City Project Manager reasonably believes that no event has occurred that would give rise to a colorable claim against the Property (e.g., a mechanic's lien) superior to the claim of City against the Property with respect to the subject disbursement, or if such claim is made, then City Project Manager shall receive satisfactory evidence that such claim has been bonded over until its resolution. EXHIBIT 2