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EXHIBIT 2 <br /> RECORDING REQUESTED BY: <br /> AND WHEN RECORDED MAIL TO: <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 1 <br /> Attention: City Clerk <br /> Free Recording pursuant to <br /> Government Code 27383 <br /> AFFORDABLE HOUSING REGULATORY AGREEMENT WITH DECLARATION OF <br /> COVENANTS AND RESTRICTIONS <br /> (918 North Bewley Street [APN 198-231-101) <br /> This AFFORDABLE HOUSING REGULATORY AGREEMENT WITH DECLARATION <br /> OF COVENANTS AND RESTRICTIONS ("Regulatory Agreement"), made and entered into this 1 St" <br /> day of October, 2024 ("Effective Date"), by and between the City of Santa Ana, a charter city and <br /> municipal corporation of the State of California ("City"), and Illumination Foundation, a <br /> California nonprofit corporation ("Owner"). City and Owner are sometimes referred to collectively <br /> as the "Parties" and individually as a"Party." <br /> RECITALS <br /> A. Owner is the owner of that certain property located within the City of Santa Ana, <br /> County of Orange, State of California, commonly known as 918 N. Bewley Street, <br /> Santa Ana, California 92703, with Assessor Parcel Number 198-231-10, with the <br /> legal description set forth in Exhibit A attached hereto and incorporated herein by <br /> this reference ("Property"). <br /> B. City and Owner have entered into a Conditional Grant Agreement, pursuant to <br /> which, City agreed to provide a Homeless Housing, Assistance, and Prevention <br /> grant(the "HHAP Grant")in an amount up to Two Million Twenty One Thousand <br /> Three Hundred Nineteen Dollars($2,021,319)to Owner for renovating the existing <br /> residential buildings for the purpose of using the Property as an affordable housing J <br /> project with ten(10)affordable units for homeless seniors and homeless youth, and <br /> one unrestricted manager's unit(the "Project"). The affordable units in the Project <br /> shall include: one (1) one-bedroom unit, seven(7)two-bedroom units, and two (2) <br /> three-bedroom units. The Project also includes twenty-nine (29) parking spaces, <br /> with twenty(20)spaces for residents and nine(9)spaces for the intended preschool, <br /> with one (1) accessible space and one (1) loading parking stall. <br /> C. As a condition of receiving the HHAP Grant, Owner agrees that this Regulatory <br /> Agreement shall be recorded against the Property prior to disbursement of any <br /> portion of the HHAP Grant and that the Properly and the Project shall be subj ect to <br /> 'III <br /> i <br />