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A- 2010 - 048 -01 <br />MODIFICATION OF TERMS OF NEIGHBORHOOD <br />STABILIZATION PROGRAM (PROGRAM 2) <br />RENTAL HOUSING DEVELOPMENT AGREEME NT <br />THIS MODIFICATION, effective as of the 1 st day of February, 2014, by and between Orange Housing <br />Development Corporation, a non -profit 501 (c) 3 organization and C &C Development Co., a Limited <br />Liability Company (collectively "Developer ") and the City of Santa Ana, a charter city and municipal <br />corporation duly organized and existing under the Constitution and laws of the State of California ( "City "). <br />RECITALS <br />A. The City and Developer entered into that certain Neighborhood Stabilization Program (Program 2) <br />Rental Housing Development Agreement (Agreement A# 2010 -048), hereinafter referred to as "said <br />Agreement ". <br />B. The parties hereto now desire to modify the Termination clause of said Agreement. <br />WHEREFORE, in consideration of the mutual and respective covenants and promises hereinafter <br />contained and made, and subject to all of the terms and conditions of said Agreement as hereby modified, <br />the parties hereto do hereby agree as follows: <br />1. Section 806. "Termination" is hereby removed completely and replaced with the following <br />wording: "This Agreement shall terminate upon mutual agreement of the parties, failure to cure a <br />material breach after notice and time to cure, or expenditure of all NSP related funds." <br />2. Except as hereinabove modified, the terms and conditions of said Agreement remain unchanged <br />and in full force and effect. <br />IN WITNESS WHEREOF, the parties hereto have executed this Modification effective as of the date <br />and year first above written. <br />APPROVED AS TO FORM: <br />Lisa E. Storck <br />Assistant City Attorney <br />DEVELOPER CONSENT: <br />Orange Housing Development Corp. <br />By: <br />Eunice Bobert, CEO <br />C &C Developing t <br />By: <br />Todd R. Cottle, its member <br />Cottle ily Trust Dated 3/8/87 <br />By: N r� �c <br />Barry A. Cottle, its Trustee <br />CITY OF SANTA ANA <br />BY: q9 <br />David Cavazos <br />City Manager <br />ATTEST: <br />Maria Hulzar, Clerk of thegouncil <br />