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FIRST AMENDMENT TO <br /> NEIGHBORHOOD STABILIZATION PROGRAM <br /> GRANT SERVICES AGREEMENT WITH <br /> ORANGE HOUSING DEVELOPMENT CORPORATION <br /> AND C&C DEVELOPMENT <br /> This Amendment is executed by and between the City of Santa Ana, a charter city and <br /> <br /> municipal corporation organized and existing under the Constitution and laws of the State of <br /> California (hereinafter "City") and Orange Housing Development Corporation ("OHDC"), a <br /> <br /> non-profit 501 (c) (3) organization, and C&C Development, a Limited Liability Company <br /> ("Developer") as of March , 2010. ~ <br /> RECITALS: <br /> A. City and Developer entered into the Neighborhood Stabilization Program Grant Services <br /> Agreement (said "Agreement") on , 2009 for Developer to assist City <br /> with the acquisition and rehabilitation of rental components of the Neighborhood <br /> Stabilization Program (NSP). <br /> B. The parties now desire to amend said Agreement to include terms related to additional <br /> funding generated by program income. <br /> WHEREFORE, in consideration of the covenants contained in said Agreement, and subject to <br /> all the terms and conditions of said Agreement, except those amended in this <br /> First Amendment to Agreement, the parties agree as follows: <br /> 1. Each party hereto agrees that Section 700 of said Agreement, shall be amended to include the <br /> following additional term: <br /> 708. Program Income. Developer acknowledges that the funds being provided by City <br /> for said program are received by City pursuant to the NSP Program criteria and guidelines as <br /> amended and that expenditures of these funds shall be in accordance with the NSP criteria and <br /> guidelines and all pertinent regulations issued by agencies of the federal government, including, but <br /> not limited to, all regulations found at Title 24 of the Code of Federal Regulations. <br /> When the City receives repayment from sales of the Properties, such funds are "Program <br /> Income". Program Income received by the City will be used for NSP activities. Program Income <br /> and reallocated funds identified for the rental component will be added to the Agreement with <br /> Developer. Developer agrees to comply fully with all federal, state, and local laws applicable to its <br /> operation whether or not referred to in this Agreement. <br /> 25K-15 <br /> <br />