25B - AGMT - 815 N HARBOR LOAN - Laserfiche WebLink

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Exhibit G RECORDING REQUESTED BY AND WHEN RECORDED RETURN M City of Santa Ana Community Development Agency Housing Department M-37 20 Civic Center Plaza, 6th Floor P,O, Box 1989 Santa Ana, California 927()2 FREE RECORDING REQUESTED [Government Code Section 61031 AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY (815 N. Harbor Boulevard, Santa Ana, CA) THESE AFFORDABLE HOUSING RESTRICTIONS ON TRANSFER OF PROPERTY (the " estricrtions ") are entered into as of February ._; 2015, by and among and 4l5 Harbor, L,P,, (referred to herein as the `Developer") -a California limited prratnership, the City of Santa Ana, a charter city and municipal corporation (tire "City"). RECITALS A. Developer is the twiner of that certain real. property located at 815 North Harbor Boulevard, (the "Property") located- in the Cite of Santa Ana more particularly described in Exhibit A, which is attached hereto and incorporated herein by this reference. & For the burl oso of providing two units of bousing that will be affordable to Vorw Low and Low income households ("HOME Assisted Units"), the Developer and the City have entered into that certain Loan Agreement for the loan of HOME fiords, dated on or about the date hereof (the "Loan Agreerneuf,) to which these R"triotions are attached as Exhibit G, which, along with all of its attachments, is incorporated herein by (his reference (any capitalized term that is not otherwise defined in these Restrictions shall have the meaning ascribed to such term in the Tian Agreement), C. The Loan Agreement provides, among other things, for the use of the Property for affordable housing with 56 units being restricted to Very Low and Low Income 11Ouse110lds and 13- units restricted to Moderate Income Households, at Affbrdable Rent(s). D, The Loan Agreement contains certain provisions relating to the use of the. Property. 1 orlo 25B -77