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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 RESTRICTIONS <br />ON TRANSFER OF PROPERTY <br />{Address: 815 N. Harbor Boulevard, Santa Ana, CAI <br />THESE AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY (the <br />"Restrictions ") are entered into by and between 815 N Harbor, LP, a California limited <br />partnership ( "Owner ") comprised of OHDC 815 N Harbor, LLC, ( "OHDC "), a California limited <br />liability company, and C &C 815 N Harbor, LLC, a California limited liability company and the <br />City of Santa Ana, a charter city and municipal corporation (the "City "). <br />RECITALS: <br />A. Owner is purchasing that certain real property located at 815 N. Harbor Boulevard <br />(the "Property ") located 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. This Agreement is made pursuant to the authority of Title XII of Division A of <br />the American Recovery and Reinvestment Act of 2009 (Public Law 111 -5 {February 17, 20091) <br />(Recovery Act) and sections 2301 -2304 of the Housing and Economic Recovery Act of 2008 <br />(Public Law 110 -289 (July 30, 20081) (HERA). Section 2301 -2304 ofHERA is lrnown as the <br />"Neighborhood Stabilization Program" or "NSP" with money funded through the Program as <br />"NSP Funds ". The term "NSP2" refers to the second appropriation of NSP Funds provided <br />under the Recovery Act, and the term 'NSPY' refers to the third appropriation of NSP Funds <br />provided under the Recovery Act. <br />C. The City was notified that its application under the NSP for NSP2 Funds was <br />approved by the U.S. Department of Housing and Urban Development ( "HUD ") with funding <br />allocated for acquisition and construction of the multi - family rental component of the NSP. The <br />parties hereto have executed the "Neighborhood Stabilization Program (Program 2) Rental <br />Housing Development" dated March 1, 2010 in the amount not to exceed $6,500,000 but no less <br />than $2,500,000 plus program income. The parties hereto have executed the "Neighborhood <br />Stabilization Program Loan Agreement. Owner must comply with all of the NSP Program <br />requirements as set forth in the Agreement. Pursuant to this Agreement, NSP2 and NSP3 Funds <br />