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`..._ EXHIBIT 5 <br />HOUSING AUTHORITY OF THE CITY OF SANTA ANA <br />GROUND LEASE—VANCE STREET PARCEL <br />Habitat for Humanity Affordable Housing Project at <br />416 Vance Street (APN 398-041-22) <br />THIS GROUND LEASE ("Lease") is made and effective as of the 17a' day of November, <br />2020 ("Effective Date") by and between the HOUSING AUTHORITY OF THE CITY OF <br />SANTA ANA, a public body, corporate and politic, ("Lessor," "City" and/or "Agency") and <br />HABITAT FOR HUMANITY OF ORANGE COUNTY, a nonprofit organization specializing in <br />the construction of affordable housing for purchase by qualifying families ("Habitat," hereinafter <br />called "Tenant" when referring to tenancy obligations of Habitat and its assigns, "Developer" <br />when referring to Habitat obligations during Habitat's tenancy herein to develop Initial <br />Improvements defined herein as those obligations are more particularly described in the <br />Inclusionary Grant Agreement, or "Agent" when referring to Habitat obligations after Habitat's <br />tenancy herein as Lessor's agent for enforcing the Restrictions defined herein) (also referred to <br />hereinafter each as "Party" or collectively as the "Parties"). <br />RECITALS <br />A. Lessor owns that certain real property generally located at 416 Vance Street <br />("Vance Street Parcel" APN 398-041-22) and 826 N. Lacy Street ("Lacy Street Parcel" APN <br />398-041-22), Santa Ana, CA 92701 (the Vance Street Parcel and the Lacy Street Parcel, <br />collectively as the "Property"),. <br />B. Developer proposes to develop on the two Property parcels two (2) single-family <br />detached homes ("Projecf') as generally described in Exhibit "A" to the concurrently executed <br />Inclusionary Grant Agreement between Developer and the City. The homes will be made available <br />for purchase and occupancy by qualifying moderate income families (up to 120% of Area Median <br />Income) pursuant to assignment of this Lease and of the companion ground lease for the Lacy <br />Street Parcel. <br />C. On March 5, 2019, the Agency authorized the Executive Director of the Agency <br />and the Recording Secretary to execute a pre -commitment letter with Tenant for a 99-year ground - <br />lease of the Property for the development of the Project, subject to non -substantive changes <br />approved by the Executive Director of the Housing Authority and Authority General Counsel. <br />D. On March 5, 2019, the City authorized the City Manager and the Clerk of the City <br />Council to execute a pre -loan commitment letter with Developer for $231,494 in Inclusionary <br />Housing Funds for the development of the Project located at the Property, subject to non - <br />substantive changes approved by the City Manager and City Attorney. The City has subsequently <br />determined that instead of a loan, the funds will be disbursed as a grant. <br />Page II <br />FOODINIF46 <br />