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NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF <br />PROPERTY <br />NOTICE IS HEREBY GIVEN that the CITY OF SANTA ANA, a charter city and <br />municipal corporation organized and existing under the Constitution and laws of <br />the State of California, has entered into an Inclusionary Housing Agreement with <br />a ( "Property Owner "). The Inclusionary <br />Housing Agreement imposes income and affordability covenants on designated <br />Inclusionary Units within the Project located at , Santa Ana, <br />Orange County, Assessor's Parcel Number and further <br />described in the legal description provided in Exhibit 1 to the Inclusionary <br />Housing Agreement. <br />The Inclusionary Housing Agreement was recorded as Document/Instrument <br />Number , and shall remain in effect until <br />20_ (Insert date of the termination of the Affordability Period). The Inclusionary <br />Housing Agreement imposes the following income and affordability restrictions <br />on the Inclusionary Units: <br />Very -Low <br />Income Low Income <br />Number of Bedrooms Households Households <br />Studios Units <br />One - Bedroom Units <br />Two - Bedroom Units <br />Three - Bedroom Units <br />Four - Bedroom Units <br />In the event the Property Owner wishes to sell or transfer the Project during the <br />Affordability Period, the City and the Property Owner shall execute and deposit <br />into escrow this Notice of Affordability Covenants on Transfer of the Property. <br />The sale or transfer of the Property shall not be effective unless and until the City <br />and the transferee execute the documents necessary to transfer the Inclusionary <br />Housing Agreement obligations from the Property Owner to the transferee. <br />Notice of Affordability Restrictions on Transfer of Property Page 1 <br />City of Santa Ana August 8, 2014 <br />