HERITAGE VILLAGE OC LLC -2016 - Laserfiche WebLink

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°j g ° {tx s WHEN RECORDED RETURN TO; City of Santa Ana 30 20 Civic Center Plaza (M -19� Santa Ana, CA 92702 @1 {Space above this line RESTRICTIVE COVENANT f� This Restrictive Covenant ( "Agreement ") is made and effective 2016, by Heritage Village OC LLC, a Delaware limited liability company ( "Site Owner"), and the City of Santa Ana, a charter city and municipal corporation ( "City "), with reference to the following Recitals: Recitals A. Site Owner is the record owner of Lots 1 -4, A and B (each a "Lot" and collectively, the "Project ") as shown in Tentative Tract Map 17962 (the "Tentative Map "), APN 430- 221-24, 01 and 02. Above - ground improvements exist currently straddling various portions of the lot lines between two or more contiguous Lots ( "Improvements "). B. Site Owner wishes to record Tract Map 17962 ( "Map "). But for this Agreement, the City would impose a condition precedent to Map recordation that all Improvements be first demolished and removed so that no Improvements straddle any Map interior Lot lines ( "Demolition "). In order to allow the Demolition condition to be satisfied after Map recordation, Site Owner agrees as follows: 1. Site Owner covenants to achieve Demolition substantial completion ( "Demolition Completion "). Promptly upon Demolition Completion, City shall issue a written governmental signoff ( "Signoff "). 2. Until Demolition Completion, as evidenced by receipt of the Signoff, Site Owner shall not convey record title to any individual Lot or any other portion of the Project ( "Prohibited Transfer "); and any attempted or involuntary Prohibited Transfer shall be void. 1 Site Owner, on behalf of itself and its successors and assigns, hereby irrevocably and unconditionally releases, acquits and forever discharges the City from and against any and all claims, obligations, liabilities, losses and damages of every kind and character whatsoever in law or equity, federal or state, asserted or unasserted, accrued or unaccrued, express or implied, foreseen or unforeseen, real or imaginary, suspected or unsuspected, known or unknown, liquidated or non - liquidated, of any kind or nature or description, in each case relating to or arising from, in whole or in part from the City recording the Map prior to Demolition Completion. The provisions of this Section 3 shall survive the termination of this Agreement. 4. The obligations herein constitute a restrictive covenant: (1) binding on the Project and the Site Owner, its successors and assigns; and (2) constitutes a covenant running with the DyeARestrictive Govenant -1