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V. Execution of Incluslonary Housing Covenants Declaration and City <br />Deed of Trust <br />The Developer shall not sell an Inclusionary Unit unless and until the City has <br />reviewed and approved the Homebuyer as an Eligible Purchaser for the <br />purchase of the Inclusionary Housing Unit, and the Homebuyer has executed <br />and submitted to the Program Director, in recordable form, the Inclusionary <br />Housing Covenants Declaration and the City Deed of Trust. The forms to be <br />used are found in Exhibits 5 and 6, respectively, to this Inclusionary Housing <br />Agreement. <br />VI. Enforcement of Inclusionary Housing Covenants Declaration <br />The Developer irrevocably stipulates and agrees that breach of the Inclusionary <br />Housing Covenants set forth above in Article 2 — Section II will result in great and <br />irreparable damage to the City, and will result in damages to the City that are <br />either impracticable or extremely difficult to quantify. Accordingly, upon the <br />breach of the Inclusionary Housing Covenants Declaration set forth above in <br />Article 2 — Section Il, the City may institute an action for injunctive relief and /or <br />specific performance for the remedy of such breach. <br />VII. Recordation of Inclusionary Housing Covenants Declaration and City <br />Deed of Trust <br />Prior to the close of each Inclusionary Unit Escrow, each Homebuyer shall sign, <br />and the City shall cause to be recorded, the City Deed of Trust and the <br />Inclusionary Housing Covenants Declaration. <br />Inclusionary Housing Agreement - Ownership Project Page 15 <br />City of Santa Ana January 2015 <br />