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N <br />RECORDING REQUESTED BY: <br />City of Santa Ana <br />Clerk of the Council <br />20 Civic Center Plaza (M-30) <br />Recorded in Official Records, Orange County <br />Hugh Nguyen, Clerk -Recorder <br />I lil4�i11111III 1111III[ III 11111 V111 111111111111111111111111 !111111 NO FEE <br />*$ F 0 0 1 5 4 9 4 0 4 2 $ * <br />202400020604911:18 am 081l2/24 <br />63 RW11A Ail 78 <br />0.00 0.00 0.00 0.00 231.00 0.00 0.000.000.00 0.00 <br />P.O. Box 1988 <br />Santa Ana, California 92702 <br />Attention: City Clerk <br />Return FULLY EXECUTED Free Recordingpursit tI <br />A Government Code 27383 <br />Copy to City Clerk, M-30 lip <br />A-2024-098 <br />REGULATORY AGREEMENT n5N <br />IMPOSING AFFORDABLE HOUSING COVENANTS AND RESTRICTIONS <br />(DENSITY BONUS) <br />(1921 W. Washington, Santa Ana, California; APN: 405-101-37) <br />This REGULATORY AGREEMENT IMPOSING AFFORDABLE HOUSING <br />COVENANTS AND RESTRICTIONS (DENSITY BONUS) ("Regulatory Agreement"), made <br />and entered into this 16"' day of July, 2024 ("Effective Date"), by and between the City of Santa <br />Ana, a charter city and municipal corporation of the State of California ("City"), and Habitat for <br />Humanity of Orange County, a California nonprofit religious corporation ("Developer"). City and <br />Developer are sometimes referred to collectively as the "Parties" and individually as a "Party." <br />RECITALS <br />A. Developer is the owner of that certain property located within the City of Santa <br />Ana, County of Orange, State of California, commonly known as 1921 W. <br />Washington Avenue, Santa Ana, California, (APN 405-101-37), with the legal <br />description set forth in Exhibit A attached hereto and incorporated herein by this <br />reference ("Property"). <br />B. City and Developer have entered into a Conditional Grant Agreement, pursuant to <br />which, City agreed to provide a grant (the "Inclusionary Grant") in an amount up <br />to Two Million Two Hundred Thousand Dollars ($2,200,000) to Developer for a <br />residential homeownership project that involves construction of six (6) affordable <br />housing units restricted for sale to low income households, which will be provided <br />within three (3) duplex buildings, and include related amenities, including but not <br />limited to: parking, landscaping, lighting, signage, and other amenities, and all <br />other on -site and off -site improvements required for operation of the Property (the <br />"Project"). <br />C. As a condition of receiving the Inclusionary Grant, Developer agrees that this <br />Regulatory Agreement shall be recorded against the Property prior to disbursement <br />5 5394.00101 \42405923.1 <br />