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MILLSACTAGREEMENT <br />Santa Ana, CA 927 <br />appropriate; and to ensure that rehabilitation and maintenance are carried <br />out in an exemplary manner. <br />E. The Owner and the City intend to carry out the purposes of California <br />Government Code, Chapter 1, Part 5 of Division 1 of Title 5, Article 12, <br />Section 50280 et seq., which will enable the Historic Property to qualify for <br />an assessment of valuation as a restricted historical property pursuant to <br />Article 1.9, Sec. 439 et seq., Chapter 3 Part 2 of Division 1 of the <br />California Tax and Revenue Code. <br />NOW, THEREFORE, the City of Santa Ana and the Owner of the Historic <br />Property agree as follows: <br />1. Effective Date and Term of Agreement. <br />This Agreement shall be effective and commence on 20 <br />(Effective Date), and shall remain in effect for a term of ten (10) years thereafter <br />(Term). Each year, upon the anniversary of the effective date of this Agreement, such <br />initial term will automatically be extended as provided in California Government Code <br />Sections 50280 through 50290 and in Section 2, below. <br />2. Renewal. <br />a. Each year on the anniversary of the Effective Date of this Agreement, a <br />year shall automatically be added to the initial ten (10) year term of this Agreement <br />unless written notice of nonrenewal is served as provided herein. <br />b. If the Owner or the City desire(s) in any year not to renew the Agreement, <br />the Owner or City shall serve written notice of nonrenewal of the Agreement on the <br />other party. Unless such notice is served by the Owner to the City at least nine 90 <br />days prior to the annual renewal date, or served by the City to the Owner at least sixty <br />60 days prior to the annual renewal date, one (1) year shall automatically be added to <br />the Term of the Agreement as provided herein. <br />C. Within 30 days from receipt of City's notice of nonrenewal, the Owner may <br />file a written protest of City's decision of nonrenewal. The City may, at any time prior to <br />the annual renewal date of the Agreement, withdraw its notice to the Owner of <br />nonrenewal. <br />d. If either the Owner or the City serves notice to the other of nonrenewal in <br />any year, the Agreement shall remain in effect for the balance of the Term then <br />remaining, either from its original execution or from the last renewal of the Agreement, <br />whichever may apply. <br />-z- <br />25A-6 <br />