|
CITY COUNCIL DRAFT
<br />absolute discretion, to a release of this Agreement to the Property as a whole. Provided, however,
<br />this Agreement shall terminate and be of no further force and effect on the Unrestricted Units or
<br />any common areas of the Property as provided in Section 5.1.
<br />4.2.3 Prior to issuance of building permits for the Project, Developer shall cause
<br />to be provided to City a condition of title guarantee (or other evidence acceptable to the City) that
<br />demonstrates this Agreement is senior to any other lien, deed of trust, mortgage, or other interest
<br />in the Property or the Project, except any Developer construction loan, Developer mortgage or
<br />deed of trust, or other interest in the Property or the Project approved by the City in writing, which
<br />approval shall not be unreasonably conditioned, withheld, or delayed. The City shall have not less
<br />than ten (10) days to determine that this Agreement (or an amended version of the Agreement
<br />restricting the Affordable Units) has senior rights. If City disapproves the evidence provided by
<br />Developer, then Developer agrees and acknowledges that City may withhold the building permit
<br />unless and until Developer provides evidence satisfactory to the City demonstrating priority of this
<br />Agreement or an amendment thereto.
<br />4.3 Occupancy Levels. Developer shall not apply or permit any occupancy
<br />requirements that violate local, state or federal law during the development or sale of the
<br />Affordable Units.
<br />4.4 Use of the Property. All uses conducted on the Property by Developer,
<br />including, without limitation, all activities undertaken by the Developer pursuant to this
<br />Agreement, shall conform to all applicable provisions of the Santa Ana Municipal Code and other
<br />applicable federal, state, and local laws, rules, and regulations.
<br />4.5 Maintenance. Developer shall, at all times during the term of this Agreement,
<br />cause the Property and the Project to be maintained in a decent, safe and sanitary manner,
<br />regardless of cause of the disrepair. Developer, until a Homeowners' Association ("HOA") is
<br />established, at which point, the HOA and each Homebuyer shall be fully and solely responsible
<br />for costs of maintenance, repair, addition and improvements. City, and any of its employees,
<br />agents, contractors or designees shall have the right to enter upon the Property at reasonable times
<br />and in a reasonable manner to inspect the Project, after providing notice as follows: (i) at least a
<br />24-hour notice to Developer and Homebuyer of the Affordable Unit which will be inspected, or
<br />(ii) at least 48 hours' notice to Developer, which shall promptly give notice to Owners of the
<br />Affordable Unit to be inspected.
<br />4.6 Preparation and Recordation of Transfer Documents. Developer shall prepare
<br />and obtain City's approval, which approval shall not be unreasonably withheld, conditioned or
<br />delayed, of the Affordable Housing Resale Restrictions, the City Promissory Note, the City Deed
<br />of Trust, and the Notice of Affordability Restrictions, for each Affordable Unit to Eligible
<br />Households required by Section 3 of this Agreement in substantially the forms attached hereto as
<br />Exhibits B, C, D, and G, respectively. Developer shall not sell an Affordable Unit unless and until
<br />the City has reviewed and approved the Homebuyer as an Eligible Household for the purchase of
<br />the Affordable Unit, and the Homebuyer has executed and submitted to the Program Director, in
<br />recordable form, the Affordable Housing Resale Restrictions, the City Deed of Trust, and the
<br />Notice of Affordability Restrictions, and the approved financing for the Homebuyer, including the
<br />executed City Promissory Note. City's approval of the Homebuyer as an Eligible Household
<br />Page 15
<br />5 53 94.0010 1 \43721567.2
<br />
|