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MILLS ACT AGREEMENT <br />2418 Nortlt Poinsettia Street <br />Santa Ana, CA 92706 <br />the City of any breach or default under this Agreement shall be deemed to be a waiver of any <br />other subsequent breach thereof or default hereunder. <br />7. Binding effect of Agreement. <br />a. The Owner hereby subject the Historic Property, located at 2418 North <br />Poinsettia Street, Assessor Parcel Number, 003 - 082 -03, and more particularly described in <br />Exhibit A, in the City of Santa Ana, to the covenants reservations, and restrictions as set forth in <br />this Agreement. <br />b. The City and Owner hereby declare their specific intent that the covenants, <br />reservations and restrictions as set forth herein shall be deemed covenants running with the land <br />and shall pass to and be binding upon the Owner' successors and assigns in title or interest to the <br />Historic Property. Every contract, deed, or other instrument hereinafter executed, covering or <br />conveying the Historic Property or any portion thereof, shall conclusively be held to have been <br />executed, delivered, and accepted subject to the tenants, restrictions, and reservations expressed <br />in this Agreement regardless of whether such covenants, restrictions and reservations are set <br />forth in such contract, deed, or other instrument. <br />8. No Compensation. <br />Owner shall not receive any payment from the City in consideration of the obligation <br />imposed under this Agreement, it being recognized that the consideration for the execution of <br />this Agreement is the substantial public benefit to be derived therefrom and the advantage that <br />will accrue to the Owner as a result of the effect upon the assessed value of the property on the <br />account of the restrictions on the use and preservation of the property. <br />9. Notice. <br />Any notice required by the terms of this Agreement shall be sent to the address of the <br />respective parties as specified below or at other addresses that may be later specified by the <br />parties hereto. <br />City: City of Santa Ana <br />Attn: City Clerk <br />20 Civic Center Plaza (M -30) <br />Santa Ana, CA 92702 <br />Owner: Jeffrey E. Dresser and Sandra E. Meza <br />2418 North Poinsettia Street <br />Santa Ana, CA 92706 <br />we <br />