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<br />MILLS ACT AGREEMENT <br />2419 North Bonnie Brae <br />Santa Ana, CA 92706 <br /> <br />E. The Owner and the City intend to carry out the purposes of California <br />Government Code, Chapter I, Part 5 of Division 1 f Title 5, Article 12, Section <br />50280 et seq., which will enable the Historic Propert to qualify for an assessment <br />of valuation as a restricted historical property pursu t to Article 1.9, Sec. 439 et <br />seq., Chapter 3 Part 2 of Division I of the California Tax and Revenue Code. <br /> <br />NOW, THEREFORE, the City of Santa Ana and the 0 ner of the Historic Property <br />agree as follows: <br /> <br />1. Effective Date and Terms of Agreement. <br /> <br />This Agreement shall be effective and commence on Augu t 7, 2006, and shall remain in <br />effect for a term of ten (10) years thereafter. Each year, upon th anniversary of the effective <br />date of this Agreement, such initial term will automatically be exte ded as provided in California <br />Government Code Sections 50280 through 50290 and in Section 2, elow. <br /> <br />2. Renewal. <br /> <br />a. Each year on the anniversary of the effective date 0 this Agreement, a year shall <br />automatically be added to the initial ten (10) year term of this Agre ment unless written notice of <br />nonrenewal is served as provided herein. <br /> <br />b. If the Owner or the City desire(s) in any year not 0 renew the Agreement, the <br />Owner or City shall serve written notice of nonrenewal of the A eement on the other party. <br />Unless such notice is served by the Owner to the City at least ninet (90) days prior to the annual <br />renewal date, or served by the City to the Owner at least sixty ( 0) days prior to the annual <br />renewal date, one (1) year shall automatically be added to the term f the Agreement as provided <br />herein. <br /> <br />c, Within 30 days from receipt of City's notice ofnonr newal, the Owner may file a <br />written protest of City's decision ofnonrenewal. The City may, a any time prior to the annual <br />renewal date of the Agreement, withdraw its notice to the Owner of onrenewal. <br /> <br />d. If either the Owner or the City serves notice to th other of nonrenewal in any <br />year, the Agreement shall remain in effect for the balance of the te then remaining, either from <br />its original execution or from the last renewal of the Agreement, wh chever may apply. <br /> <br />3. Standards and Conditions for Historic Property. <br /> <br />During the term of this Agreement, the Historic Property sh 11 be subject to the following <br />conditions, requirements and restrictions: <br /> <br />2SA-13 <br />