1901 E. FIRST STREET OWNER LLC (2) - 2014

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ARTICLE 3 DEFAULTS AND REMEDIES I. Default If either Party defaults with regard to any provision of this Inclusionary Housing Agreement, the non - defaulting Party shall serve written notice of such default upon the defaulting Party. If, after the service of written notice of such default, the defaulting Party does not cure such default within thirty (30) calendar days after service of the notice of default (or, if such cure reasonably takes longer than thirty (30) days, if such cure has not been commenced within the thirty (30) day period or is not diligently completed within a reasonable time, not to exceed an additional sixty (60) calendar days), the defaulting Party shall be in Default of the terms of this Inclusionary Housing Agreement, and shall be liable to the other Party for damages caused by such Default. Alternatively, the non - defaulting Party, at its option, may institute an action for specific performance of the terms of this Inclusionary Housing Agreement, IL Legal Actions In the event of a breach or potential breach of program requirements, in addition to any other rights or remedies, either Party may institute legal action to cure, correct or remedy any Default, to recover damages for any Default, or to obtain any other remedy consistent with the purposes of this Inclusionary Housing Agreement. II -A. The City's actions may include, but are not limited to, the following: 1. The following legal actions: a. Actions to enforce compliance with the program requirements and to enjoin any actions by the Property Owner that violate program requirements; and b. Injunctive relief and damages. 2. If the Property Owner receives rent revenue in excess of the Affordable Rent for any Inclusionary Unit, the Property Owner shall forfeit all excess monetary amounts obtained through the rental of the Inclusionary Units. Inclusionary Housing Agreement— Rental Project Page 18 City of Santa Ana September 18, 2014