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be restricted to rental and occupancy by Extremely Low Income <br />or Very Low Income households paying an Affordable Rent, <br />determined in accordance with the lower and more restrictive of <br />the regulations applicable to federal 9% low and moderate <br />income tax credits and the California Community <br />Redevelopment Law, Health and Safety Code Section 33000, et <br />seq. (and, with respect to four (4) of the studio units, four (4) of <br />the one-bedroom units, and three (3) of the two-bedroom units, <br />which shall be fixed HOME Units, the regulations <br />implementing the HOME Investments Partnership Program <br />("HOME Program") set forth at 24 CFR §92.1, et seq.) Six (6) <br />of the studio units, ten (10) of the one-bedroom units and four <br />(4) of the two-bedroom units are to be restricted to Extremely <br />Low Income households, and all but one (1) of the remaining <br />units at the Project shall be restricted to Very Low Income <br />households for a period of not fewer than 55 years (15 years <br />with respect to the HOME Program requirements). <br />This Notice of Affordability Restrictions on Transfer of Property is being <br />recorded for the purpose of providing notice only and it in no way modifies the <br />provisions of the Restrictions. In the event of any conflict between this Notice and <br />the Restrictions, the terms of the Restrictions shall prevail. <br />The Restrictions have been recorded concurrently herewith and shall remain <br />in effect for not fewer than fifty-five (55) years. <br />This Notice is being recorded in the Official Records of Orange County, <br />California by the Agency in compliance with Health and Safety Code Section <br />33334.3(f)(3)(B), as amended, and shall be indexed against the Agency and the <br />Owner. <br />[Signatures appear on following pages.] <br />B-2 <br />DOCSOC/1475221 v5/200272-0004 <br />