25G - AGMT MILLS ACT 927 W 20TH STREET

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31ILLS ACT AGRF.HUENT 927 1Vest Twentieth Street Saxta Axa, Cil 92706 Section 50286. This cancellation lime shall be a percentage (currently set at twtclve and one-half (12 'i:) percent by Government Cale Section 50286) of the current fair market value of the property at the time of the cancellation, as determined by (lie county assessor, without regard to any restriction imposed pursuant to this Agreement. b. If the Historic Property is destroyed by earthquake, fire, flood or other natural disaster such that in the opinion of the City Building Official more than sixty (60) percent of the original fabric of the structure must be replaced, this Agreement shall be canceled immediately because, in effect, the historic value of the structure will have been destroyed. No tee shall be imposed in the case Uf destluetion by acts of God or natural disaster. C. if the Historic Property is acquired by eminent domain and the City Council determines that the acquisition frustrates lite purpose or this Agreement, this Agreement shall be cancelled and no fee imposed, as specified in Government Code Section 50288. 6. Enforcement of Agreement. a. 'In lieu or and/or in addition to any provisions to cancel the Agreement as referenced herein, the City may specifically enforce, or enjoin the breach of the terms of the Agreement. In the event of a default, under the provisions to cancel the Agrrecmctit by the Owners, the City shall give written notice to the Owners by registered or certified mail, and if such a violation is not corrected to the reasonable satisfaction of the Deputy City Manager for Development Services or designee within thirty (30) days thereafter, or if not corrected within such a reasonable time as may be required to cure the breach or default, or default cannot be cured within thirty (30) days (provided that acts to cure the breach or default may he commenced within thirty (30) day's and shall thereafter be diligently pursued to completion by the Owners), then the City may, without further notice, declare a default under the forms of this Agreement and may bring any action necessary kr specifically enforec the obligations of the Owners growing out of the terns of this Agreement, apply to any court, state or federal, for injunctive relief against any violation by the Owner or apply for such relief as may be appropriate. b, The City docs not waive any claim of default by the Owner if the City floes not enibrce or cancel this Agreement. All other remedies at law or in equity which are not otherwise provided for in this Agreement or in the City's regulations governing historic properties are available to the City to pursue in the event that there is a breach of this Agreement. No waiver by (lie City of any breach or default under this Agreement shall be deemed to be a waiver of any other subsequent breach thereof or default hereunder. 7. Binding effect of Agreement. a. The Owners hereby subject the Historic Property, located at 927 West Twentieth Strect, Assessor Parccl Number, 399-055-07, and more particularly described in "Exhibit A," in the City of Santa Ana, to the covenants reservations, and restrictions as set forth in this Agreement. -4- 25G-15