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1,Q)AN AGREEMENT
<br />EMIT NT
<br />1101VIE PROGRAM
<br />'6`1114 LOAN ACRE 1 (tlue"Ag;recirerat ") dated, liar identification pta j)oses only,
<br />was of July 2016, is made and entered into by and bekveen the City nl Santa Ana, as
<br />charter city and mtanicipat carr`♦ier.atiaan (referred to herein as "City") and <;ru;rest 1 louse LP,
<br />a California lamita;al partnership With reference it) the fbl'lowi g :
<br />RECITALS:
<br />A. City'trax received ran al6oeation of finds from the United States
<br />Departrrtenl Oil housing and Urban Develrrpi —nQw ("hJUD' ") under the HOME Investment
<br />PaMiership Program (the "HOME Program") (42 U.S.C. §127111, ct see,1.,) to be used in
<br />accordance with applicable staatiatory reapuairenictits au ad regualaations (the "HOME
<br />Regulations") (24 CTR Part 92);
<br />If, Amon.- the putrpawsars of the: flt:)ME t'ropyram arc ( l) (0 expa.und the stapp)6y
<br />of decent, safe, sanitary, and aaflordaaWe housing, with prirnary wtenti;mi to rental housing,
<br />for very low-income and low-income Americans; and (2) to provide participating
<br />Aura c6ic�lia�ons, oil as nxanrdinated basis, with the Varraras pbrms of federal housing assislance,
<br />Including; capital investment, mortgage inwrana;e, renwl assistance, alai other federal .
<br />assistance, needed (a) to promote the develcapatne;uat of partnerships among; lbe federal
<br />govcrnment, states and milt Of,generaal local government, private industry, and nonprofit
<br />Organizations able tar uatiliZC all aavailablC FcSOUNCS tar prOVide More Of staCh hontiirag;, aand.
<br />(b) to expand the caap,acify of nonp?rOfit Conra°nnnty 11OUasinp, development organr.rarfions to
<br />develoll and manage decent! safe, .sarreitary and afterudalrle hotusing;
<br />C. Developer is ttic owner of that certain property cormalarnly known 21.5 t E.
<br />First: Street, within the City of SwiW Ana, California, and leg;a6ly described fn Exhillit A
<br />L hene(o (lh Q `'Property ") The loans rCferenecd hereon shah assist in the
<br />ia4cprarsikon and rehabilitation of said Property that is, improved with a MUMfuurrrily
<br />residential laetrsing development.
<br />D, In fir thermice Of the 110Mp: Program, Developer has appked to C Ily l'or a
<br />ioarl with wvlaicla, to:
<br />1. provide deeper gaff ardabitityr for a longcr team, aas wall as a cquaare aril .
<br />rehabilitate the Property, and
<br />2. thereafter to maintain, Operate and professionally manage llue Property
<br />as decent, safe,,waanilmy and affordable rental herursirag;.
<br />E. City, on eertaarr ternaS and. Canadititrns, aksrre to MaIkc snCh loan
<br />tar Developer to Order to make possible tha; m:qu:aisif on and relaabititation ol't he Prarpert,y,
<br />ttae;rebyehmhaatingblagtat rv6Ii6c cxpaaaaarra,g tlaa, snpaply Ofticuent, sale, sanaituary and
<br />affordabte hotasiaag.
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