HomeMy WebLinkAbout1901 E. FIRST STREET OWNER LLCINSURANCE NOT REQUIRED ��O � � A••20I4-Bi9C
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CLERK OF COUNCIL. L
rvTr. JUN 1 9 2919
NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY
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NOTICE IS HEREBY GIVEN that the Cf1Y OF SANTA ANA, a charter city and municipal
corporation organized and existing under the Constitution and laws of the State of California,
entered into an Inclusionary Housing Agreement with 1901 First Street Owner, LLC, a Delaware
limited liability company ("Property Owner"). The Inclusionary Housing Agreement imposes
income and affordability covenants on designated Inclusionary Units within the Project located at
1901 E. First Street, Santa Ana, Orange County, Assessor's Parcel Number 400-081-08, and
further described in the legal description provided in Exhibit 1 to the Inclusionary Housing
Agreement.
The Inclusionary Housing Agreement was recorded as Document/Instrument Number
2014000515125, and shall remain in effect until November 30, 2069, The Inclusionary Housing
Agreement imposes the following income and affordability restrictions on the Inclusionary Units:
Very -Low Income Low Income
Number of Bedrooms Households Households
One -Bedroom Units 0 5
Two -Bedroom Units 0 5
In the event the Property Owner wishes to sell or transfer the Project during the Affordability
Period, the City and the Property Owner shall execute and deposit into escrow this Notice of
Affordability Covenants on Transfer of the Property. The sale of transfer of the Property shall not
be effective unless and until the City and transferee execute the documents necessary to transfer
the Inclusionary Housing Agreement obligations from the Property Owner to the transferee.
This Notice of Affordability Covenants on Transfer of the Property in no way modifies the
provisions of the Inclusionary Housing Agreement. In the event of any conflict between this
Notice of Affordability Covenants on Transfer of the Property and the Inclusionary Housing
Agreement, the terms of the Inclusionary Housing Agreement shall prevail.
IN WITNESS WHEREOF, the Parties hereto have duly executed this Notice of Affordability
Restrictions on Transfer of Property as of the dates set forth below.
[Signatures on Following Pages]
1
in
SIGNATURE PAGE
TO
NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY
LEGALFORM:
•�/ v 1j1,,�- , '1U a.j diO A4e-
City Attorney
City of Santa Ana
C4Zf b's
CITY OF SANTA ANA
A California Municipal Corporation
By:
Name: Kristine Ridge
City Manager
Its:
Date: b e I g T I q
L4 r A�%
1 `'ore
NORMA MITRE
Acting Clerk of the Council
ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document, to which this certificate
is attached, and not the truthfulness, accuracy, or
validity of that document.
State of California
County of Orange )
On June 18. 2019 before me, Rosa A. Flores , Notary Public
(insert name and title of the officer)
personally appeared Kristine Ridge, who proved to me on the basis of satisfactory evidence to be
the personX whose name( 'J is./ -are subscribed to the within instrument and acknowledged to me
that,he/she/they executed the same in tie/her/•their authorized capacity(ies�), and that by Ctrs/her/their
signature,,(z) on the instrument the person(4, or the entity upon behalf of which the person(sl acted,
executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal. }+►......,tee
�' ROSA A.FLORES
Notary Public - California
Orange County
Commission 2228450
My Comm. Expires Fpb 7, 2022
Signature al 4� � • C��'� (Seal)
SIGNATURE PAGE
TO
NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY
CADIGAN 1901 FIRST LLC,
a Delaware limited liability company
By:
Name:
Its:
Date:
By:
Name:
Its:
Date: