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Exhibit 1 <br />AGREEMENT FOR THE PAYMENT OF PUBLIC IMPROVEMENTS <br />THIS AGREEMENT, made and entered into this day of 2016, by <br />and between the CITY OF SANTA ANA, a municipal corporation of the State of California <br />( "City ") and DEPOT AT SANTIAGO, L.P., a California limited partnership <br />("Developer"). <br />RECITALS <br />A. The Developer is developing affordable rental housing on property located at <br />923 N. Santiago Street and 914 N. Logan Street in the City of Santa Ana <br />( "Development "). <br />B. As a condition to the Development, the Developer is required by the City to install <br />certain public Improvements (`Improvements "). The City and the Developer wish <br />the City to perform the installation of the Improvements on behalf of the Developer, <br />at the Developer's sole cost and expense. <br />WHEREFORE, in consideration of the foregoing, the parties hereby agree as follows: <br />The City partnered with the Developer for an affordable housing grant. Part of the grant <br />included installation of transportation - related infrastructure, including enhanced street <br />crossings at Santa Ana Boulevard / Garfield Street and Santa Ana Boulevard / Lacy Street. <br />The City will be finalizing the design for these Improvements and bidding the project out. <br />The City shall require the contractor to complete the Improvements prior to April 1, 2017, <br />and require delay penalties for failure to complete on time, <br />2. The estimated costs of the Improvements is $400,00.0.00. The Developer shall pay the <br />sum of only $400,000.00 to the City. <br />NOTICE <br />All notices pertaining to this Agreement and all communications from the parties may be <br />made by delivery and said notices or communications in person or through the U.S. Mail, <br />first class, certified, return receipt requested and addressed as follows: <br />To Developer: <br />Depot At Santiago, L.P. <br />14211 Yorba Street, Suite 200 <br />Tustin, CA 92780 <br />To City: <br />City of Santa Ana Public Works Agency <br />20 Civic Center Plaza, M -21 <br />P.O. Box 1988 <br />Santa Ana, CA 92702 <br />Attn: City Engineer <br />Written notice is effective five days after mailing to the most current address provided by <br />the parties. Failure by either party to notify the other of a change in mailing address shall <br />not invalidate service by mail to the most current address provided by that party. Personal <br />service of notice is effective upon delivery. <br />1076\49 \1939012.2 <br />20C -3 <br />