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FREE RECORDING REQUESTED PURSUANT TO GOVERNMENT CODE SECTION 27383 When Recorded Mail to: City of Santa Ana Community Development Agency 20 Civic Center Plaza (M -26) P.O. Box 1988 Santa Ana, CA 92702 -1988 Attention: Housing Division Manager AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY {Address: 1440 East First Street, Santa Ana, California) THESE AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY (the "Restrictions ") are entered into by and between AMCAL 1440 Santa Ana Fund, L.P., a California limited partnership ( "Developer") and the Housing Authority of the City of Santa Ana, acting as the Housing Successor Agency, a public body, corporate and politic ( "Agency "). RECITALS: A. The Agency is authorized by the Community Redevelopment Law of the State of California (Health and Safety Code section 33000, et seq.) ( "CRL ") to expend funds to increase the supply of very low and low income housing available at affordable housing costs. In part to further this goal, the Agency has created the Merged Project Areas, within the City (the "Project Area "), and adopted a Redevelopment Plan for the redevelopment of the Project Area. In accordance with Section 33334.2, et seq., of the CRL, the Agency sets aside a portion of the tax increment revenues it receives from the Merged 'Project Area in a separate low and moderate housing fund, which the Agency uses for the construction, preservation, and rehabilitation of affordable housing for low income households. B. Developer requested financial assistance in connection with the proposed development of a sixty -nine (69) unit affordable workforce housing complex ( "Project ") to be located at 1440 East First Street, Santa Ana, California, and legally described within Exhibit A attached hereto and incorporated herein ( "Property "). The residential units will be located within six (6) buildings. The rental units (less one manager's unit) are 100% affordable to family households earning between 30% and 60% of the Area Median Income ( "AMI "). The unit mix currently consists of six (6) four - bedroom units, twenty -eight (28) three - bedroom units, and thirty -five (35) two - bedroom units (one being a manager's unit). Eight (8) of the units will be assisted by the Santa Ana Housing Authority's Project -Based Voucher Program. On -site amenities will include a community room and amenity space including tot lots /play areas for children, outdoor seating, BBQ's, a flex play space and planters. The community room will be 80A -175