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RECORDING REQUESTED BY <br />AND WHEN RECORDED RETURN TO: <br />City of Santa Ana <br />Community Development Agency <br />Housing Department M -37 <br />20 Civic Center Plaza, P Floor <br />P.O. Box 1988 <br />Santa Ana, California 92702 <br />A- 2013 -072 SPACE ABOVE THIS LINE FOR RECORDING USE <br />FREE RECORDING REQUESTED <br />[Government Code Section 6103] <br />AFFORDABILITY RESTRICTIONS <br />ON TRANSFER OF PROPERTY <br />(923 N. Santiago Street, Santa Ana, CA) <br />THESE AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY (the <br />"Restrictions ") are entered into as of the I Ith day of July 2013, by and among Depot at Santiago, <br />L.P., a California limited partnership (referred to herein as the "Developer ") and the City of <br />Santa Ana, a charter city and municipal corporation (the "City "). <br />RECITALS: <br />A. Developer is the owner of that certain real property located at 923 N. Santiago Street <br />(the "Property ") located in the City of Santa Ana more particularly described in Exhibit A, which <br />is attached hereto and incorporated herein by this reference. <br />B. For the purpose of providing approximately seventy (70) residential rental units of <br />housing that will be affordable to Extremely Low, Very Low and Low Income households <br />( "Assisted Units ") with the exception of the on -site manager unit, Developer and the City have <br />entered into that certain Loan Agreement, dated on or about the date hereof (the "Agreement') to <br />which these Restrictions are attached as Exhibit B which, along with all of its attachments, is <br />incorporated herein by this reference (any capitalized term that is not otherwise defined in these <br />Restrictions shall have the meaning ascribed to such term in the Agreement). <br />C. The Agreement provides, among other things, for the use of the Property for <br />affordable housing with the Assisted Units being restricted to being rented to Extremely Low, <br />Very Low and Low Income households. <br />D. The Agreement contains certain provisions relating to the use of the Property. <br />NOW, THEREFORE, DEVELOPER AND CITY COVENANT AND AGREE AS <br />FOLLOWS: <br />1076 01 13 33691A <br />