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THIRD MODIFICATION TO GROUND LEASE
<br />THIS THIRD MODIFICATION TO GROUND LEASE, dated as of June 1, 2014, is by
<br />and between the CITY OF SANTA ANA, a municipal corporation and chartered city
<br />organized and existing under and by virtue of the laws of the State of California (the "City'),
<br />and the SANTA ANA FINANCING AUTHORITY, a joint exercise of powers authority
<br />organized and existing under and by virtue of the laws of the State of California, as lessee (the
<br />"Authority "), modifying that certain Ground Lease, dated as of March 1, 1994, by and
<br />between the City and the Authority, and recorded on March 22, 1994, as document number
<br />94- 0201357, in the Official Records of Orange County, California, as modified by that certain
<br />Modification of Ground Lease, dated as of September 1, 1994, by and between the City and
<br />the Authority, and recorded on March 20, 1995, as document number 95- 0111187 in the
<br />Official Records of Orange County, California, as modified by that certain Second
<br />Modification of Ground Lease, dated as of July 28, 1997, by and between the City and the
<br />Authority, and recorded on August 5, 1997, as document number 19970373119 in the Official
<br />Records of Orange County, California, and as amended by that certain First Amendment to
<br />Ground Lease, dated as of February 1, 2004, by and between the City and the Authority, and
<br />recorded on February 25, 2004, as document number 2004000143852 in the Official Records of
<br />Orange County, California (the "Ground Lease ");
<br />WITNESSETH:
<br />WHEREAS, the City and the Authority have heretofore entered into the Ground Lease,
<br />pursuant to which the City leased certain real property, described in Exhibit A thereto, together
<br />with the improvements thereof (the "Property ") to the Authority and the Authority leased the
<br />Property from the City;
<br />WHEREAS, the Authority and the City have heretofore entered into that certain Lease,
<br />dated as of March 1, 1994, by and between the Authority and the City, and recorded on March
<br />22, 1994, as document number 94- 94- 0201358, in the Official Records of Orange County,
<br />California, as modified by that certain Modification of Lease, dated as of September 1, 1994,
<br />by and between the Authority and the City, and recorded on March 20, 1995, as document
<br />number 95- 0111188 in the Official Records of Orange County, California, as modified by that
<br />certain Second Modification of Ground Lease, dated as of July 28, 1997, by and between the
<br />Authority and the City, and recorded on August 5, 1997, as document member 19970373120
<br />in the Official Records of Orange County, California, as amended by that certain First
<br />Amendment to Lease, dated as of February 1, 2004, by and between the Authority and the
<br />City, and recorded on February 25, 2004, as document number 2004000143853 in the Official
<br />Records of Orange County, California, and as modified by that certain Third Modification
<br />thereto being recorded concurrently herewith (the "Lease Agreement "), pursuant to which the
<br />Authority leased the Property to the City and the City leased the Property from the Authority;
<br />WHEREAS, the City has determined that it is necessary to amend the description of the
<br />Property, as set forth in the Ground Lease and the Lease Agreement to release the existing
<br />Property and to substitute other real property and improvements therefor;
<br />WHEREAS, Section 2.06 of the Lease Agreement authorizes amendment of the Ground
<br />Lease and the Lease Agreement to substitute the Property, subject to certain conditions
<br />precedent set forth therein; and
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