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MILLSACTAGREEMENT <br />Address <br />Santa Ana, CA 9170 <br />E. The Owner and the City intend to carry out the purposes of California <br />Government Code, Chapter 1, Part 5 of Division 1 of Title 5, Article 12, Section <br />50280 et seq., which will enable the Historic Property to qualify for an assessment <br />of valuation as a restricted historical property pursuant to Article 1.9, Sec. 439 et <br />seq., Chapter 3 Part 2 of Division I of the California Tax and Revenue Code. <br />NOW, THEREFORE, the City of Santa Ana and the Owner of the Historic Property <br />agree as follows: <br />1. Effective Date and Term of Agreement. <br />This Agreement shall be effective and commence on September 1, 2015 (Effective <br />Date), and shall remain in effect for a term of ten (10) years thereafter (Term). Each year, upon <br />the anniversary of the effective date of this Agreement, such initial term will automatically be <br />extended as provided in California Government Code Sections 50280 through 50290 and in <br />Section 2, below. <br />2. Renewal. <br />a. Each year on the anniversary of the Effective Date of this Agreement, a year shall <br />automatically be added to the initial ten (10) year term of this Agreement unless written notice of <br />nomenewal is served as provided herein. <br />b. If the Owner or the City desire(s) in any year not to renew the Agreement, the <br />Owner or City shall serve written notice of nonrenewal of the Agreement on the other party. <br />Unless such notice is served by the Owner to the City at least nines (90) days prior to the annual <br />renewal date, or served by the City to the Owner at least sixty (60) daLs prior to the annual <br />renewal date, one (1) year shall automatically be added to the Term of the Agreement as <br />provided herein. <br />c. Within 30 days from receipt of City's notice of nonrenewal, the Owner may file a <br />written protest of City's decision of nonrenewal. The City may, at any time prior to the annual <br />renewal date of the Agreement, withdraw its notice to the Owner of nomenewal. <br />d. If either the Owner or the City serves notice to the other of nomenewal in any <br />year, the Agreement shall remain in effect for the balance of the Term then remaining, either <br />from its original execution or from the last renewal of the Agreement, whichever may apply. <br />3. Standards and Conditions for Historic Property. <br />During the Term of this Agreement, the Historic Property shall be subject to the <br />following conditions, requirements and restrictions: <br />-'- <br />25D-4 <br />