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EXHIBIT B <br />AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY <br />RECORDING REQUESTED BY AND <br />WHEN RECORDED MAIL TO: <br />Community Redevelopment Agency of the <br />City of Santa Ana <br />20 Civic Center Plaza (M -37) <br />Santa Ana, CA 92702 <br />Attn: Executive Director <br />This document is exempt from payment of a <br />recording fee pursuant to Government Code <br />Sections 27383 and 6103. <br />NOTICE OF AFFORDABILITY RESTRICTIONS <br />ON TRANSFER OF PROPERTY <br />(1600 West Memory Lane, Santa Ana, CA) <br />(Multi - Family Rental Units) <br />NOTICE IS HEREBY GIVEN, that the Community Redevelopment <br />Agency of the City of Santa Ana ( "Agency "), to carry out certain obligations under <br />the Community Redevelopment Law of the State of California (Health and Safety <br />Code Section 33000 et seq.) and the Redevelopment Plan for the Merged <br />Redevelopment Project Areas, has required Vista Del Rio Housing Partners, L.P., a <br />California limited partnership ( "Owner "), to enter into certain affordability <br />covenants and restrictions entitled Affordability Restrictions on Transfer of <br />Property ( "Restrictions "). The Restrictions shall be recorded with the Orange <br />County Recorder concurrently with this Notice, with reference to certain real <br />property located at 1600 West Memory Lane, Santa Ana, CA ( "Property "), <br />designated as Assessor's Parcel Nos. [ I and more particularly <br />described in Attachment No. l, attached hereto and incorporated herein by <br />reference. <br />The affordability covenants and restrictions contained in the Restrictions <br />include without limitation and as further described in the Restrictions: <br />The Project consists of a forty -one (41) unit rental project with <br />fifteen (15) studio units, twenty -one (21) one - bedroom units, <br />and five (5) two - bedroom units, all but one unit of which will <br />B -I <br />DOCSOC/ 1475221 v5/200272 -0004 <br />