SMITH, DAVID BUSH (THE DAVID BUSH SMITH LIVING TRUST)

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MILLS ACT AGREEMENT 825 North Lacy Street Santa Ana, CA 9270I 7. Binding effect of Agreement. a. Owner hereby subjects the Historic Property, located at 825 North Lacy Street, Assessor Parcel Number, 398-042-01, and more particularly described in Exhibit A, in the City of 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 pass to and be binding upon Owner's successors and assigns in title or interest to the Historic Property. Every contract, deed, or other instrument hereinafter executed, covering or conveying the Historic Property or any portion thereof, shall conclusively be held to have been executed, delivered, and accepted subject to the tenants, restrictions, and reservations expressed in this Agreement regardless of whether such covenants, conditions and restrictions are set forth in such contract, deed, or other instrument. c. This property is listed in the Santa Ana Register of Historical Properties (Register). In any real property transaction, the owner of this property or the owner's representative shall provide the buyer of this property with notice that the property is listed on the City's historic Register. 8. No Compensation. Owner shall not receive any payment from City in consideration of the obligation imposed under this Agreement, it being recognized that the consideration for the execution of this Agreement is the substantial public benefit to be derived therefrom and the advantage that will accrue to Owner as a result of the effect upon the assessed value of the Property on the account of the restrictions on the use and preservation of the Property. 9. Notice. Any notice required by the terms of this Agreement shall be sent to the address of the respective parties as specified below or at other addresses that may be later specified by the parties hereto. City: City of Santa Ana 20 Civic Center Plaza(M-30) Santa Ana, CA 92702 Attn: City Cleric's Office Owners: David Bush Smith, Trustee of The David Bush Smith Living Trust dated July 15, 2009 Attn: David Bush Smith 825 North Lacy Street Santa Ana, CA 92701 _ 5 _