DEPOT AT SANTIAGO, LP (2)-2014 - Laserfiche WebLink

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RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of Santa Ana Community Development Agency Housing Department M -37 20 Civic Center Plaza, 60' Floor P.O. Box 1988 Santa Ana, California 92702 Attention: Housing Manager A- 2013 - 072 -01 SPACE ABOVE TEIIS LINE FOR RECORDING USE FREE RECORDING REQUESTED [Government Code Section 61031 AMENDMENT TO LOAN AGREEMENT (923 N. Santiago Street, Santa Ana, CA) THIS AMENDMENT TO LOAN AGREEMENT (the "Amendment ") is entered into as of June 2014, by and among and Depot at Santiago, L.P. (referred to herein as the "Developer") a California limited partnership and the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California (the "City "). Its A. Developer and the City entered into the Loan Agreement ( "Agreement ") dated July 11, 2013, with regard to 923 N. Santiago Street ( "Property ") which was recorded in the Official Records, Orange County California on August 9, 2013 ( 92013000476765). B, The Agreement provides, among other things, for the use of the Property for affordable housing with the Assisted Units being restricted to being rented to Extremely Low, Very Low and Low Income households. C. The parties hereto now desire to amend the Agreement so as to provide that the HOME Assisted Units be designated_ as "Floating" as that term is used by the Department of Housing and Urban Development in regard to it HOME program. They also desire to amend the Agreement so as to provide for the following distribution of units. NOW, THERIsFORE, the parties hereby agree as follows: I . The parties agree that Section 7.2. of the Loan Agreement shall be amended to reflect the following distribution of units (not including the manager's unit), with eleven (11) three bedroom units designated as HOME units: