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RECORDING REQUESTED BY, <br />AND WHEN RECORDED MAIL TO: <br />City of Santa Ana ) <br />20 Civic Center Plaza (M-37) ) <br />Santa Ana, California 92702 ) <br />Attn: Housing Manager ) <br />This document is exempt from payment of a recording fee <br />pursuant to Government Code Sections 27383 and 6103. <br />AFFORDABLE HOUSING RESALE RESTRICTION <br />(Conditions, Covenants, and Restrictions Affecting Real Property and the Resale, <br />Ownership, Occupancy, Maintenance, and Other Matters Related to Real Property) <br />This AFFORDABLE HOUSING RESALE RESTRICTION ("Restriction") is made <br />as of , by ("Homebuyer") in favor of the CITY OF SANTA <br />ANA, a charter city and municipal corporation ("City"). <br />RECITALS <br />A. Homebuyer has purchased a single family house located at , <br />Santa Ana, California 9270_, as such real property is more particularly described in "Exhibit A" <br />attached hereto and incorporated herein ("Property"), <br />B. Homebuyer and City have entered into that certain Homebuyer Loan Agreement <br />("Loan Agreement") dated of even date herewith, which is incorporated herein by reference and <br />a copy of which is on file with City at its offices and is a public record, pursuant to which City <br />has agreed for the Property to be sold to Homebuyer at an Affordable Sales Price by providing <br />certain financial assistance for the Project, which benefits the Homebuyer ("Homebuyer Loan") <br />and Homebuyer has agreed to subject the Property to certain conditions, covenants and <br />restrictions. Capitalized terms used herein and not otherwise defined shall have the same <br />meaning as set forth in the Loan Agreement. <br />C. Homebuyer and City desire and intend to restrict the Property and the <br />improvements thereon in accordance with this Restriction to preserve its value for the benefit of <br />Homebuyer, its successors and the surrounding neighborhood. Homebuyer agrees and <br />acknowledges that these Restrictions are intended to implement and further the intent of the <br />Regulatory Agreement Imposing Affordable Housing Covenants and Restrictions (Density <br />Bonus) (hereafter, the "Regulatory Agreement"), entered into between City and Developer of the <br />Property, which was recorded against the Affordable Unit to impose the conditions, covenants, <br />and restrictions as set forth herein. These Restrictions shall be construed in accordance with the <br />Regulatory Agreement and, in the event of a conflict, the provisions of the Regulatory <br />Agreement shall control. <br />EXHIBIT B <br />