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restrictive of the regulations applicable to federal 9% low and <br />moderate income tax credits and the California Community <br />Redevelopment Law, Health and Safety Code Section 33000, et <br />seq. (and, with respect to ten (10) of the three bedroom units <br />and the one (1) five bedroom unit, which shall be fixed HOME <br />units, the regulations implementing the HOME Investments <br />Partnership Program ("HOME Program") set forth at 24 CFR <br />§92.1, et seq.) Four (4) of the three-bedroom units are to be <br />restricted to Extremely Low Income households, and all but one <br />(1) of the remaining units at the Project shall be restricted to <br />Very Low Income households for a period of not fewer than 55 <br />years (10 years with respect to the HOME Program <br />requirements). <br />This Notice of Affordability Restrictions on Transfer of Property is being <br />recorded for the purpose of providing notice only and it in no way modifies the <br />provisions of the Restrictions. In the event of any conflict between this Notice and <br />the Restrictions, the terms of the Restrictions shall prevail. <br />The Restrictions have been recorded concurrently herewith and shall remain <br />in effect for not fewer than fifty-five (55) years. <br />This Notice is being recorded in the Official Records of Orange County, <br />California by the Agency in compliance with Health and Safety Code Sections <br />33334.3(f)(3)(B), as amended, and shall be indexed against the Agency and the <br />Owner. <br />IN WITNESS WHEREOF, the parties hereto have caused this Notice of <br />Affordability Restrictions on Transfer of Property to be executed as of the date set <br />forth at the beginning of this Notice. <br />AGENCY: <br />COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA <br />ANA <br />a public body, corporate and politic <br />By: <br />Nancy T. Edwards, <br />Interim Executive Director <br />1-2 <br />DOCSOC/ 1469583 v5/200272-0003