ORANGE COUNTY COMMUNITY HOUSING CORPORATION - 2008

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FREE RECORDING REQUESTED PURSUANT TO GOVERNMENT CODE SECTION 27383 When Recorded Mail to: Community Redevelopment Agency City of Santa Ana 20 Civic Center Plaza (M-37) P.O. Box 1988 Santa Ana, CA 92702-1988 Attention: Housing Programs Coordinator AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY (1015 N. Logan Street, Santa Ana, CA) THIS AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY AGREEMENT (the "Restrictions") are entered into by and between Orange County Community Housing Corporation, anon-profit public Corporation, a California nonprofit public benefit corporation ("Developer") and the Community Redevelopment Agency of the City of Santa Ana, a public body corporate and politic (the "Agency"). RECITALS: A. Developer is the owner of that certain real property (the "Site") located at 1015 N. Logan Street, in the City of Santa Ana more particularly described in Exhibit A, which is attached hereto and incorporated herein by this reference, upon which Developer shall construct asingle-family affordable house (the "Property"). B. Developer and the Agency have entered into that certain Disposition and Development Agreement, dated concurrently herewith (the "Agreement") for the purpose of providing for the development of affordable low and moderate income housing in the City of Santa Ana pursuant to the Community Redevelopment Law. Developer and the Agency have entered into that certain Disposition and Development Agreement, dated concurrently herewith (the "Agreement") to which this Agreement is attached as Exhibit B, which is incorporated herein by this reference (any capitalized term that is not otherwise defined in this Agreement shall have the meaning ascribed to such term in the Implementation Agreement). C. The Agreement provides, among other things, for the development and use of the Property for affordable housing with the Assisted Affordable Unit being restricted to a lower income household.