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HILLS, I CT AGREEMENT 824 North Giwtield Sereet Santa Ana. CA 92701 SCCtion 50236. This cancellation lee shall be a percentage (currently set. at twelve and one-half (I? /S) percent by Goverment Code Section 50186) of the current tair market value of the property at the time of the cancellation, as determined by the county assessor, without regard to any resu fiction imposed pursuant to this Agreement_ b. Tf the Historic Property is destroyed by earthquake, fire, flood or other natural disasicr such that in the opinion of [hc City Building Official more [Iran sixty (60) perecnt of tic original fabric of the structure trust be replaced, this Agreement shall be canceled immediately because, in effect, the historic value of the structure will have been destroyed. No fee shall be imposed in the case of destruction by acts of God or natural disaster. C. If the Historic Property is acquired by eminent domain and the City Council detertrines that the acyuisitiun frustrates the purpose ul'this Agreement, this Agreement shall be cancelled and no fcc imposed, as specified in Government Code Scction 50288. 6. Enforcement ol'Agreement. a. hi lieu of and/or in addition to any provisions to cancel the Agreement as referenced herein, City may specifically cnforec, or cojoin the breach 01, the terms of ihc. Agreement. In the event of a default, under the provisions to cancel lilt Agreement by Ovtier, the City .Shall give written notice to Owner by registered or certified mail, and if such a violation is not corrected to the reasonable satisfaction of the City Manager or designee within thirty ('10) days thereafter_ or il' not corrected within such a reasonable time as nna-y 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 be commenced within thirty (30) days and shall thereafter be diligently pursued to complelion by Owner), then Cily may, without further notice, declare a default under the terms of this Agreement and may bring any action necessary to specifically enforce the obligations of Owner growing out of the terms of this Agreement, apply to any court, state or federal, for injunctive relief against any violation by Owner or apply for such relief as may be appropriate. b. City does not waive arty claim of default by the Owner if City does not enforce or cancel this Ag7cement. All other remedies at law or in equity which arc not otherwise provided tot in this Agreement or in C'ity's regulatiolts governing historic properties are available to City to pursue in the event that there is a breach of this Agreement. No waiver by City of any breach or default under this Agreement shall be deemed to be a waiver of any other subsequent breach thereof or default 11CrCtlnder. 7. Binding effect of Agreement. a. Owner hereby subjects the Historic property, located at 824 North Garfield Street, Assessor Parcel Number, 399-042-12, and more particularly described in Exhibit A, in the City ul' Santa Ana, to the covenants, conditions, and restrictions as set forth in this Agreement. b. City and Owner hereby declare their specific intent that the covenants, Conditions and restrictions as set forth herein shall be deemed covenants running with the land and shall City Council 12 — 46 5/18/2021