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RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO. <br />City of Santa Ana. <br />20 Civic Center Plaza <br />Santa Ana, California 92701 <br />Attention: City Clerk <br />A-zor(e-II_+--o✓y� <br />Retarded in Official Records, Orange County <br />Hugh Nguyen, Clerk -Recorder <br />11111IIIl1111111111111111111111111111111111111 If 11111Jillll11l11118.00 <br />20170001716069 17 am104128117 <br />48 414 T01 a <br />0.00 0.00 0.00 0.00 0.00 0,00 0.00 0.00 <br />(Space Above This Line For Recorder's Use Only) <br />TERMINATION OF INCLUSIONARY HOUSING AGREEMENT <br />THIS TERMINATION OF INCLUSIONARY HOUSING AGREEMENT is dated as <br />of April , 2017 ("Effective Date"), by and between the CITY OF SANTA ANA, <br />a charter city and municipal corporation organized and existing tinder the <br />Constitution and laws of the State of California ("City"), and OLSON URBAN - <br />SANTA ANA 4, LLC, a Delaware limited liability company ("Developer' M.,_ <br />RECITALS <br />2 <br />A. Developer is the fee owner of the Property located at 1506, 11524,`'a---' <br />1548 West First Street, Santa Ana, California ("Property"). <br />B. Developer's predecessor in interest, Olson Urban Housing, LLC, and City <br />exact ted tl iat cei Lain incluoioria y Hours ,ig Agreement ii uc Payment of !,I - <br />Lieu Fee, which was recorded against the Property on October 18, 2016, <br />in the Official Records of the County of Orange, as Instrument No. <br />2016000509408 ("Inclusionary Housing Agreement"). <br />C. Article 2, Section II of the Inclusionary Housing Agreement required that, <br />"in lieu of providing any Inclusionary Units, the Developer shall pay to the <br />City the sum of $757,600.00 pursuant to the applicable payment <br />deadline(s) prescribed by the Ordinance in effect at the time of obtaining <br />the first building permit related to the Project." <br />4. <br />D. Developer has now paid the full In -Lieu Fee payment of $757,600.00 to <br />the City. <br />Termination of Inclusionary Housing Agreement Page 1 <br />City of Santa Ana <br />84800,000 - 1148811 <br />