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1 <br />Westview House <br />City Affordability Restrictions on Transfer of Property <br />RECORDING REQUESTED BY <br />AND WHEN RECORDED RETURN TO: <br /> <br /> <br />City of Santa Ana <br />Clerk of the Council <br />20 Civic Center Plaza (M-30) <br />P.O. Box 1988 <br />Santa Ana, California 92702 <br />Attention: Clerk of the Council <br /> <br /> SPACE ABOVE THIS LINE FOR RECORDING USE <br /> FREE RECORDING REQUESTED <br /> [Government Code Section 6103] <br /> <br /> <br />AFFORDABILITY RESTRICTIONS <br />ON TRANSFER OF PROPERTY <br />(2530 & 2534 Westminster Avenue, Santa Ana, California) <br /> <br /> THESE AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY <br />(the “Restrictions”) are entered into as of May 26, 2022, by and between and Westview <br />House LP, a California limited partnership (“Developer”), and the City of Santa Ana, a <br />charter city and municipal corporation (“City”). <br /> <br />RECITALS: <br />A. Developer is the owner of that certain real property located at 2530 and 2534 <br />Westminster Avenue (“Property”), located in the City of Santa Ana, more particularly <br />described in Exhibit A, which is attached hereto and incorporated herein by this reference. <br />B. The Developer and the City have entered into that certain Loan Agreement, dated <br />on or about the date hereof (“Loan Agreement”), for the purpose of providing eighty-four <br />(84) units of housing that will be affordable to Extremely Low Income, Very Low Income, <br />and Low Income households (“Restricted Units”), with one un-restricted unit reserved for <br />an on-site manager, to which these Restrictions are attached as Exhibit F (any capitalized <br />term that is not otherwise defined in these Restrictions shall have the meaning ascribed to <br />such term in the Loan Agreement). <br />C. The Loan Agreement provides, among other things, for the use of the Property for <br />affordable housing with all Restricted Units being restricted to Extremely Low Income, <br />Very Low Income and Low Income households, at Affordable Rent(s). <br />D. The Loan Agreement contains certain provisions relating to the use of the Property. <br /> <br />EXHIBIT 3