ORANGE COUNTY COMMUNITY HOUSING CORPORATION - 2008

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ATTACHMENT TO GRANT DEED This Attachment to Grant Deed (the "Attachment") is attached to that certain Grant Deed between ORANGE COUNTY COMMUNITY HOUSING CORPORATION, a California nonprofit public benefit corporation, as Grantor, and as Grantee, and provides that the Property which is the subject of this Grant Deed ("Subject Property") is conveyed by Grantor subject to the deed restrictions (collectively referred to herein as the "Deed Restrictions") set forth in this Grant Deed including those set forth in this Attachment. Words and phrases used in this Attachment shall have the same meanings as in the Grant Deed unless specifically provided otherwise. If there is any conflict between the provisions of this Attachment and the provisions of the Grant Deed, the provisions of this Attachment will prevail. In accepting said Deed Restrictions, the undersigned Grantee understands and acknowledges that the Subject Property is being sold to the Grantee at a purchase price that is below the fair market value of the Subject Property as the result of subsidy provided by the Community Redevelopment Agency of the City of Santa Ana (the "Agency") in accordance with the Disposition and Development Agreement between Agency and Grantor referred to as (referred to as the "Agreement"), so as to make the Subject Property "affordable" to the Grantee. In return for and in consideration of the opportunity for the Grantor to sell and the Grantee to purchase the Subject Property under the above-referenced circumstances and for other good and valuable consideration, the receipt and legal sufficiency of which the undersigned hereby acknowledges, the Grantee, on behalf of himself, herself, or themselves and with the express intent to bind all those defined as "Owner" on Paragraph 1 below, hereby agrees as follows: 1. Definitions "Affordable Housing Cost" shall mean housing costs (including mortgage payments, a reasonable utility allowance and similar costs) which do not exceed the maximum amount applicable to Lower Income Households pursuant to California Health and Safety Code Section 50052.5 and the regulations promulgated by the California Department of Housing and Community Development thereunder. "Owner" shall mean and include the undersigned Grantee and any or all successors in interest (whether voluntary or involuntary), transferees, assigns, heirs, executors, or administrators of the undersigned. "Qualified Purchasers" shall mean persons or families who qualify for a first mortgage for the Subject Property under commonly used underwriting standards of the mortgage finance industry, and who are Lower Income households; that is, persons and families whose income does not exceed the qualifying limits for lower income families in Orange County, as established and amended from time to time pursuant to Section 8 of the United States Housing Act of 1937, published by the California Department of Housing and Community Development in the California Administrative Code as soon as 10