Laserfiche WebLink
CITY COUNCIL DRAFT <br />F,XHIRIT R <br />FORM OF AFFORDABLE HOUSING RESALE RESTRICTIONS, EQUITY SHARING, AND <br />REGULATORY AGREEMENT <br />RECORDING REQUESTED BY, <br />AND WHEN RECORDED MAIL TO: <br />City of Santa Ana <br />20 Civic Center Plaza (M-30) <br />P.O. Box 1988 <br />Santa Ana, CA 92702 <br />Attn: City Clerk <br />Free Recording pursuant to <br />Government Code 6103 & 27383 <br />AFFORDABLE HOUSING RESALE RESTRICTIONS, EQUITY SHARING AND <br />REGULATORY AGREEMENT <br />(Address; APN) <br />This AFFORDABLE HOUSING RESALE RESTRICTIONS, EQUITY SHARING <br />AND REGULATORY AGREEMENT ("Affordable Housing Resale Restrictions" or <br />"Agreement") is made as of , by ("Homebuyer") in favor of <br />the CITY OF SANTA ANA, a municipal corporation ("City"). <br />RECITALS <br />A. Homebuyer has purchased a single family house located at , <br />Santa Ana, California, , as such real property is more particularly described in "Exhibit 1" <br />attached hereto and incorporated herein ("Property"). <br />B. In connection with Homebuyer purchasing the Property, Homebuyer <br />acknowledged and received disclosures that the purchase was subject to a Density Bonus Housing <br />Agreement with Declaration of Covenants, Conditions and Restrictions ("Density Bonus <br />Agreement"), dated on or about , 2025, between the developer of the Property, <br />("Developer"). The Density Bonus Agreement required the Property to be sold <br />to a Moderate Income Household, subject to the provisions of this Affordable Housing Resale <br />Restrictions, pursuant to which Developer imposed covenants upon the Property to be sold to <br />Eligible Homebuyers at an Affordable Sales Price. Homebuyer hereby acknowledges and agrees <br />that this Affordable Housing Resale Restrictions is intended to implement the requirements of the <br />Density Bonus Agreement, and that the purchase, use and occupancy of the Property is subject to <br />the conditions, covenants and restrictions contained herein. Capitalized terms used herein and not <br />otherwise defined shall have the same meaning as set forth in the Density Bonus Agreement. <br />Exhibit B <br />Page 29 <br />55394.00 10 1\43724951.1 <br />