Laserfiche WebLink
FREE RECORDING REQUESTED PURSUANT <br />TO GOVERNMENT CODE SECTION 27383 <br />When Recorded Mail to: <br />City of Santa Ana <br />Community Development Agency <br />20 Civic Center Plaza (M-37) <br />P.O. BOX 1988 <br />Santa Ana, CA 92702-1988 <br />Attention: Housing Programs Coordinator <br />AFFORDABILITY COVENANTS <br />AND RESTRICTIONS <br />{Address: ,Santa Ana, CA} <br />THIS AFFORDABILITY RESTRICTION AGREEMENT (the "Restrictions") <br />are entered into by and between , a limited partnership comprised of <br />organization, and ("Owner") and the City <br />of Santa Ana, a charter city and municipal corporation (the "City"). <br />RECITALS: <br />A. Owner is purchasing that certain real property (the "Property") located at <br />in the City of Santa Ana more particularly described in Exhibit "A" <br />which is attached hereto and incorporated herein by this reference. <br />B. Title III of Division B of the Housing and Economic Recovery Act of 2008 <br />(Pub. L 110-289, 122 Stat. 2654 enacted July 30, 2009) makes available to certain <br />qualified municipalities for certain qualified grant funds termed Neighborhood <br />Stabilization Program ("NSP Funds") under a program termed the Neighborhood <br />Stabilization Program (the "NSP"). <br />C. The City was notified that its application under the NSP for NSP Funds was <br />approved by the U.S. Department of Housing and Urban Development ("HUD") with <br />funding allocated for acquisition and rehabilitation of the multi-family rental component <br />of the NSP. The parties hereto have executed the Neighborhood Stabilization Program <br />Rental Housing Development Agreement ("Agreement") concurrently with these <br />Restrictions. Owner must comply with all of the NSP Program requirements as set forth <br />in the Agreement. NSP Funds were used for the acquisition of the Property. <br />