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<br />INSURANCE MQI ON FILE <br />WORK MAY oor PROCEED <br />CLERK OF COUNCIL <br />nATE: l-I-ze-ID <br />~'\ <br /> <br />A-2010-050 <br /> <br />FIRST AMENDMENT TO <br />NEIGHBORHOOD STABILIZATION PROGRAM <br />GRANT SERVICES AGREEMENT WITH <br />ORANGE HOUSING DEVELOPMENT CORPORATION <br />AND C&C DEVELOPMENT <br /> <br />cl: <br />~ <br />U <br /> <br />This Amendment is executed by and between the City of Santa Ana, a charter city and <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 />non-profit 501 (c) (3) organization, and C&C Development, a Limited Liability Company <br />("Developer") as of March l, 2010. <br /> <br />4::cd <br />-,-, <::3' <br />i::!.__ <br />~ /- <br />~ <br />-<;{.~ <br /> <br />J' J <br /> <br />.. . ~ <br />U <br /> <br />RECITALS: <br /> <br />A. City and Developer entered into the Neighborhood Stabilization Program Grant Services <br />Agreement (said "Agreement") on ~ba' 2&', 2009 for Developer to assist City <br />with the acquisition and rehabilitation of rental components of the Neighborhood <br />Stabilization Program (NSP). <br /> <br />B. The parties now desire to amend said Agreement to include terms related to additional <br />funding generated by program income. <br /> <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 /> <br />1. Each party hereto agrees that Section 700 of said Agreement, shall be amended to include the <br />following additional term: <br /> <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 /> <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 />