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<br /> <br /> <br /> <br /> The MOU shall specify that the Project is not undertaken by the City and is not in <br />furtherance of a City program. Rather, the MOU is a response to Developer's <br />request for financial assistance to enhance affordability for qualified homebuyers <br />by providing Homebuyer Down Payment Assistance through an existing City <br />program. <br /> <br /> The MOU shall require that Developer execute an affordable housing covenant <br />("Affordable Housing Covenant") to offer the nine (9) affordable units to <br />households with income that does not exceed the limits for Low and Moderate - <br />Income Households for an affordable sales price that complies with the limits for <br />an "affordable housing cost," as defined in California Health and Safety Code § <br />50052.5. In addition to the available Homebuyer Down Payment Assistance, the <br />existing residents shall have a right of first refusal, which shall provide those <br />households with the right to purchase an affordable unit. The Affordable Housing <br />Covenant shall run with the land for a period of forty-five (45) years. <br /> <br /> Developer shall assume any and all responsibility and be solely responsible for <br />determining whether the project must comply with the relocation requirements <br />under California Government Code § 7260 et seq. and implementing regulations <br />and any other applicable federal, state, or local laws governing relocation of <br />residential tenants, including but not limited to Division 2 of Article IX of Chapter <br />34 of the Santa Ana Municipal Code (§ 34-331 et seq.) (collectively, "Relocation <br />Laws"). To the extent applicable, Developer shall comply with and be responsible <br />for all costs of compliance with relevant Relocation Laws. <br /> <br /> Developer shall assume any and all responsibility and be solely responsible for <br />compliance with all tenant and eviction protections, including but not limited to <br />protections under the California Tenant Protection Act (Civil Code § 1946.2), the <br />Ellis Act (Government Code § 7060 et seq.), Santa Ana's Rent Stabilization and <br />Just Cause Eviction Ordinance (Article XIX of Chapter 8 of the Santa Ana <br />Municipal Code) (collectively, "Eviction Protections"). To the extent applicable, <br />Developer shall comply with and be responsible for all costs of compliance with <br />all relevant Eviction Protections. <br /> <br /> Because the MOU will provide City Assistance as part of Homebuyer Down <br />Payment Assistance for qualified homebuyers, the repayment obligation is based <br />on the City's existing Down Payment Assistance Program. City shall not be <br />obligated to make any payments to qualified homebuyers under the MOU unless <br />and until Developer meets all conditions provided for in the MOU and qualified <br />Low and Moderate-Income Households comply with all requirements to receive <br />the Homebuyer Down Payment Assistance. <br /> <br /> The nine (9) affordable ownership units at the Project shall be restricted by an <br />Affordable Housing Covenant to an affordable home purchase price, which will <br />require that the nine (9) homes be sold to qualified Low and Moderate-Income <br />Households. Future sales of such single-family homes will be restricted to <br />qualified Low and Moderate-Income Households for a period of at least forty-five <br />(45) years. <br />EXHIBIT 4