HomeMy WebLinkAbout80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J
EXHIBIT J
80A-105
i
SYCR Draft: J~~ne 4, 2010
DISP~SITI4N AND DEVELOPMENT AGREEMENT
By and Between Elie
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OI+ SANTA ANA
~~,~i
SANTA ANA STATION DISTRICT, LLC
nocsoc~iaoo6~3.~i3~2oo2~2-oooi EXH~B~T J
80A-106
1 l~~.U.U i~ L~~ 1 L' ~ 1 f7
1 ~ DE~~N I T IAN „ !RR!!l.,..........IIY „ IYYYYY „ YYYYYIYl,l,,,,YY,YY!!!!!4!!.¦¦....¦¦¦¦¦¦¦YIYYYIYYYY „ ,1,l,!!!####!!##....~
2 0 0, ~N~E~AN E ~ F TAE ~TER .............Y¦¦11IYYYY„ YYYYYYYYYY,,,YY,,,,!!!,lRRRRRRR.¦¦¦¦¦¦¦¦IIYIIYYYY,Y,,,,,,Y Lr
~1~~~L~L1~*V ~~L~3V ~tV [~1i1.1 J-~~]~~`~?Y~ a~~k7~tLV~,ii~~~l~.......¦...¦.Y¦YrYYr~r~~,l,,,lr!!!!!+l+lrr~~
!..'q ~.l \f ~~~J VE~Y1~V~~,Y„Yl,...¦..R.~.¦~Ir~11Y.Y.llrrrl„!„YY,,,,YYYYYYY!lIRR...¦........Yrlrllll,ll„~/'
~qI YFI E~Ct`~~~ Ins~~•uct1Q11S.....YYYIIIYYYIYYYY,iY,YYYIY!„4,,,,1„¦,¦¦¦¦¦¦¦¦¦¦¦¦¦1??IYYYYYrFllllll!l14,~+r
Lq~I,J 1 ]L~~{~~,I i,~~~ q~1~yJ~`\,J~ ~}.~Vl,•.t lR¦¦¦¦¦¦¦R¦¦¦¦¦¦Y,Y,,,,,If1111,,,,,YYYYYYYYYYlIRRRR¦R¦¦~¦~¦¦¦YYY
~qI.4 ~~~1~1~ ,Y!!„I,,1,,,,„!,!,!!!!¦!R!¦¦¦.¦¦¦¦¦¦¦¦¦YYYYIYYYI,!„Y,1„1811,,,,,,!!!.¦¦¦¦¦¦¦¦¦¦¦¦1IIYYYY,YY,~
2 q ~ , ~aslll Pl'a C~lll`e YYYY,,,YY,Y „ ,1l,!!!!,R!#,R!!R!!!l~..~~......¦¦¦¦¦¦YY,Y,Y,,,,,,,,,,!!!RR!!R!!!~
/~{J f.t! i i~~t~l xl a T1~1~ ¦~~.~l..,Y,l,,,,,,Y,YYYYYY,YYYYYYYYYYIYlIRRRRRRRRRI~~.~..,.Y¦f!!! „#Y##YYYYYYYIYYlIRRR......~~~
Lt{J ~r T~~~~/ J1~~~4J4`~~ V V 1!!„ 1,Y,lf,!"ffffl,f....¦......¦...Y..fYYYYYrrYYYrlllll„ YY!!!llYYY!lI,RR¦......¦?¦¦r1111YYrYF,r1l~ V
~{J~! C Dt1C~lt1 ~~l q ~ 1~ 5 11]}y l1,,,.,¦...¦.¦¦¦¦¦¦¦¦IYYIYY,,,Y,,,,1,,,,!!!!l111111,,,",!.!!.........¦..YYYYYYY „ Y,,,,!!~
/~+q~Y ~ ~~~nY~'S LL//gndltron of lo~~~~YYf„Yf!!!!!!!,!!ll ...................YYYYYYY,,,„RRRf!! 17
'q4,~ De~~lap~I"'~ ~ltltlall~ af~OSlll¦..¦~~~YY„IIIIY,„„Y,,,,,,,,,,,,,,!!!¦!¦!¦¦¦¦¦¦¦Y1~V
~q51 1`~~~+~~~~~t~~~Vl~V ~4+ f f ~1`l`~~~~l~~r#f,,,l,f.¦ ..............~rYYYl,Y!ll,,,,,YYYYYYYYYY!lIRRRrR..........YYrIFRq
"~{y~ 111 1 /~y/ {r? 4 y~~'iJ~ }r~~ iry fry f~77 1.
!-fgYA ~1~-`Vn~ 1, 1i~Y~+1.'~#/1~ttSt1~1141 ,,,,,YYYYYYYYYY,FYY!!!1!1!!r!!!!##f"„"....¦¦....Y.YYYrrrrYY,YYF,Y,r!
ql De~relape~`'~ Vf?I'VVli~~~~V4~~YYYYYYYY!!,!!F!!!!!##!!!!#r!~ll~~.~..Y,,,,YYYYYYYYYYY,Y!lIYYY!
~{f 1f, Ql]C~1~101~ of tll~ 1t~Y ,,,,,,,,,,,,,,,,,,,,,!!!!!,!¦¦!!!¦¦RR¦¦¦¦~1111,11111,,,,YY1111,,,,,,,,,,,,,,!!!!R¦¦¦¦¦¦¦¦~~-+
L.r 1J t,/R1 ~~+~~t+Y~~y+'-"+~ a~ lt~ YYYYYIYRRRIRRRRRR!!!l~l.~~.¦1111„!!!!„#,YYYYYYYYYYYYY!!RYlI,..¦..¦......rl-+
q t~~~l~s ;}al~ ~V~ ~~1~ V ..¦......Y.YIrYrrllrlrl„ 1 „1?11!!!!!!!###,Y",,.1....¦....¦¦.Y,YYYYYYYYYYYFI++
~ql l~enle~llatl~l] ~~I' D~v~lgp~~` 1~~~~ts T~ T~~'Inll]~t~..,~....,YYYYY,,,,,,,,,,,l,++?
2q~1 1N~ 7 S 4Sf11.4i{l~l~~ Jf F T~.I 1.Jit~Y~ ~~4Y~~ al 2 1(.yllY~ 1111111„I,,,,YYYYYYYYYYlIff.....¦++'~
LrxJ ~ly y,J~]~~yS/~.J l1,+y" ~~•~y~,}i{titi,fll 2 il~Vi, 1\.R ~~1~}y ¦~¦~~YI,1111,,,,,,,YYYYYYY#„YYYYYYY!!!¦RR¦R¦¦¦¦¦+-+
20~. ~~~ulre ]~lsclos~re~ Aber ~a51i„Y111Yll,lllll„YYY,,lY.!# .............¦.YYYYYYYlIS+V
.~1~ ~t~1~1~17~ 1 lVp al`~ .....¦.....I/Yll/lrllllllFr,1111111,!!r!!!!#",Y,Y ..............¦,YY.YYYYYYYYYIS'+~
2q~J1~ ]~eVela{JV~' itV VV~~~~~1iJ~~ ~1~~~~/l~~lil~ } RR!!l~l.,¦¦~~,,.....,Y.YYYII,,,,YYYYYYYYYYYY!lI.RR{+?~~
~~VIJ ~}.`~~1~~ E~~ 1 i~iV ,F F~~~FY~1#1 ~n~~ii1~,.L T~ RRRRRI~~~~.,~¦ICI,Y.,.,,,,1,,,#,,,YYYYYYYYY!!llR....R/F.~f
207, A~ene~ ~C~l~l~itiol~ ofAcld~tianal P1•ap~~•tieslYIIYYYY1,1111811„YYYYYYl11„".........¦¦.¦,,.YYY „~+V
~q~, 1 L~l~j./ } ~~~~~1LJ1t1A,/1~ A,7~~1Y V}r~~~~}~ ~~~+V V3/YYIrrrYr111111,1!!!!t#fYY!!!!!#~ ...............¦YY,YYY,Y~+~
(a q J ¦ ~~~~i~#t~ 1 l~t~ ~ ~ ~ !.¦¦..¦¦..¦...¦,¦iiiYYYYYY,iYYYYYYYYYYYYYIYYIRRIRR!!!ll.~~¦¦¦¦¦¦¦~~~1111,111,# „ YYYYYYYYYY#fY#f#RR~
~ ~ q Y T1 n'lll1~ Q ~ Ael~ C~~ V ~li~tR V~~ ,YYY,YYI,Y!!RR!!!!!!!4#!.#ll~~~,~I~~III...,,,,,,YYYYYYYYYYYYYYYYYIY!ll....~+~
SJ qI ~JJ T ELDPENT V~ T~E ~1~~¦IE VT¦ ........¦¦...¦/.Y./I/IIIIIY,Y„Y!!!11„YYfY ..............¦..YYY,YYYY~I
3q I ! Iev~lopel•' bllg~t~on tq ~onst~~l~~t ]~e~elapel• Itnpra~elne~~t; pope of
fJ ~ s ~l~p ill V~~~ „ ¦,,,Y,YYY,YYI,,,,YYYYYYYYYY!!lIRRRRIRRRR!¦~~¦¦¦¦¦¦I,I,..,,,,,,Y,YYYYYYYYYYYIYYYYI,¦¦¦¦.¦+~ /~7
q~, 111 ~~'1~~'~. .¦YYYYYY „ ,,,,,,,,,,,,,,,,,,,,,,!!!¦¦¦¦!!RR¦¦¦¦¦¦¦~~Y¦1111ffYYYYY111111111111,1„ „!,",...1~..~~.¦+-~J
~D.lgncepful bite Fla~~ ¦¦....Y/YYr1/Yr111111„11111r!!!!!rr!!!!#ff.f.......¦.....,,,,YYYY,YYYYYYY~f
yJ ~.e, L.e 1 t~~~l ~~lf ll l.-......¦..¦,.....Y.,YYYYIYYYYYYYYYIYYIIY!!!!!!!!!!!rr¦~~.¦¦~¦~¦~IIIIIII,,,,,,,,,YYYYYYYYY!!/J'1
ViJl JJ i V~t~ 1 YYY,YYYY! „IRRRr.......~~~...¦....IIr11111Y111111,ff# „ YY"!!!!!!f#.f...........,YY'+
~q~.~ ~ QAr~l~leaflll`a~ Plans..YYYYYYY¦YYYYYY,YYYIYIIRl,,,,,,!!!RlIRIIII~I~~~........YY111111„~q
q~Y~ A~nC~ Exec~~ti~e Di~'~Cta1` l ippl+V 1 aLl r~¦¦~~~..¦¦~IIIYY,,.,,,,,,111,,,,,#ffYYY,f,f....I?q
q ~Y ~S ~ ~ ipp r~ 1 ~l .,,,,,Y,YYYYYYYYYYYYYY!!!ll.,...RR...R....¦¦¦..I//.//IIIIY11111111!!!!!!#### „
q~.~ ~1101'lllc~ En~l~'~lll~~nt~l ~~C-L~~~7 ¦ ~V~ I!!R!r!Y!!!Rr!!!!#1.......~~,YII,IY,,,,I,,,,,Yf~
q¦~ 1Rt~~`}r~~~`f,.f.........¦.¦¦...Y.Y/Y.YY,YYYYYYYYIYYYYRRlRRIr!!!!r!!llrr..¦¦~.¦¦IIIIIIIIII,,,,,,,,,IY, {1
3q 41 V~,~~~~L~ ~-+~~~f~~~+5{Ji++~+i~V „Y„YY,,YYYYYYY!!Y!RlIRRRI,Y¦¦¦¦¦¦¦¦¦¦¦¦/¦¦¦1111111111,,,11l1111!!!!!!##f##f...~..~ j
~ q / Deere lQprn ent ~bli gati a ll S, ,,,,YYYYYYYYYYl,!!!!!!!R!R¦¦¦¦¦¦¦¦¦¦¦¦¦/...111111111111,11!!!!!1!!!!!l,,,l1...~..~
i
~ l
'~AB~~ ~~NTENT
~`Q~l~~illl~[~~
a 1~a ~ ~ a r~~~r`~~1ft•11J~111ff111YYYYYYY,Y11, 11YYYYY I,YYYY,YYY,YYYY,rrrrrrrr¦.......¦¦...YYYYI l111111~
? V ~11~.i A ~4~1+Y ~r•~ ~~~IYYf YYY4YYYY441~1a¦¦...........l YIIYIYYYYi1YYYYYYYYYYY, F,YYYYYYYYYYYYYIYl I,.,ffffl a~~~
3513 Pr'o~lslans a' ~rlld Ca1,V ~~e}~t+~ 11,1,YYYYIYYYYYYYYY,,,,„ ..................YY/l//111r~+-+
.J SJ ~14 1 L Vttiiil ~ N V ~IYIfYYF1 YYYYYFYY1111,,,YYY,....f.....a.~,....1,.,,,.YYYYYYYYYYYYf YYYYYYYYYYYYYYY „ffffll?
!s/~~r T!!~y{ 1i1 ~{y; ~{[~~y r¦ 111
~V~a 1~~~~~r,L41i~Y RRV~4{+r•~in V~~tISYI SYYYYYS~-S-~Y.~,i.a¦¦¦.....¦Y.YY/YlI YIYYYYYIYYYYYYYYYYYYYYYYYf,f,i
30~Y1 Mir~irnum a 1 ~~`~1w~~F--el1YFVl1~inV~~~~flf1 ......................YY,Y,YY„YYYYYYYYYYYF,Y,,,~iJ
aJ SJ V IL/ 1 r'1fpVlli~J V 41 r,µlly y,YYFIf4111,,,,Y,.,,f~a~~a,.a.~~¦¦¦¦¦Y¦¦YYY¦¦¦YYY,YYYYYYYYY, If YYYYYYYYYYYY,f,ff? F
3~~13 App~1C~l~~llt~~ to Far-c~le I'o~~ior~ oftl~e Fr'a~ject,,,,,,,,,,¦~¦¦¦~.......Y.Y,YYYYYY35
~ ~7Y In d ernr~lt~ ...¦..¦.¦¦/IiYliYiiiYiiIYYYYYYYYYIl,lll,,,YY,,,¦,.,~1~.....¦.¦......¦.¦¦YYYYYYYYYYYYYYYYYY,,,,YYYYYYY „ „ „ 3
3~/~1~ ~,./o~e~o~er lil~y,+rnr~r~~ylllll,,,~......~~1~¦¦....¦YYYYIYYYYYYYYYYYYYYYYYYYYYYYYYY,,,,,,,,,,,,,,,,35
L ~1+~+ A get~c~ Ir~d etnr~it~1..11111f If YYYYYYY,llf 11„ F,F,,,,YY,YY,,,,,Y.,YY, Y........~~~,YY.YYYYYYYYYYYY,~ V
~~Y I~1~1~~ a ~ Cep ilYiYiliiliiiYliiYlYYil,ilYY,111 .............~.~,........YliiiYYYYYYYYYiiiilllll,,,YYYYYY,,,,,.,3
Y ar~~i~~1+i~f l~ilLitia~~ ~r~ ~+np~~ }~n Vl~ .................1.1,YY.Y, 111 Y11YYYYYYYYYYYYYYYYYYYYYYYYY,,,YY...... /~y~
3 ~ T~eS ~Il~ A Se S ern er~ts ,,..a...~...~IIII,,,YYYYYYYYY,Y,,,, „I,,,YYIYY,,,YYY,,.,,, „Illll~~a~i¦¦YYYYY¦YYYYYYY,3
. ~I ~,7}l~},s~ry.{rly y 111~1~ 1JLi iT aa~.~a..1.Y11111Yf YYYYYYYYYYYFYYf,,,f1,,,YY,,,,,,,,,,,,,,,¦¦a~a~~11111YYYYYYYYYYYYYY „ ~ V
,J11, ~1 1 rV il4~~~4~1n fS ~4+}~.y,/ Ll yi li~ YYY1111,,,¦.......aa~a~f¦¦Illii IYYYYYYYYYYYYYYYYYYYYYYYYYYYYY„YY. Y,.f,~~
~+Y ~r~I] S c~Il~ ~a ~ ~~t1C ~S IYIFI, YYI YYIIII,,,,,,.Y..........a Y~11YY.YYf YYYYYYYYYYYYYYY,1111 ?4441111 J'
13. lLiY l~~~~~ V~ ~Ja~~~~r14y~~ra~l ~~~il~ IIf YYYYYYY,Y,FI/ll„Y,YY,YIIYYI IYYYYYYY.Y,,.......... ¦.YYYY.YYYYYYY 4 V'
tY ~Sl~~V~ ~1~~~+~V~;41 ~~r~~~~~VY~ I~IIIf YYYYYYYYYYY11f If YYYY,I,Y,YY,YY,,,Y„YY.YY...........~IIIIYYYYYYYYYYYYY FV
Y ~~~r~ V ~ ~ V ~Yf 11Y111 FF1111,,,YYYYYY „ r.rr.r.r~~.~..........YYY.YYYYYYYYIIIIIIIIl I,I„ YYY,YYYYYY „ ~ u
I,Lr 1L~p4S r~~V~~ a~t~+~ ~~Y~~V~T ~arl ...~~~I.....I.YYYYY.YYYYYYYYYf 1111114Y11,,,,Y„Y„Y.. r,~1
314.3 ~e~ortirr~ ~~rrirern~t~t for the ~er~t~l Por~ior~ o~tl~e Pra~eet ,,...YYYYY i
31 ~eportirr I~e~trirem~t~t~ for tyre Fora-dale Fortiori a~'tl~e ~rVrVYt YYYYYYY i~
3~~Y5 ~~*~r,~~J ~J2 ]LV~~Y~ ~a~j1,1,YYYYY„Irr111~r~......~1..1~.Y..Y..YYYYYYYYYYYYYYYYYYYYYYYYYYYYY~~
3I4Y~ Drsbrr~~~etnet~t oftl~e ..................YYYYYYYiililiiilllll,YYYYYYYY,,,,~+~
315, Hotr~ebrr rY~~ ~~~i1J~~n y}+YY,,,,,,,,,,,,,a..........YYY1111111111YYYYY,YYYYYYYYYYYYYY,,, Y,,,,,,,,,~~a...........Y/r~
315.1 iV~ F+V+¦L1,1 {JN !~r' 1. Y~~2~~NL1VV ~U44f iYYYY1111111111YYYYY,YYY,YY,,,,,,,,,,,Y,,,,,.~~1~~.,.....YY,,,Y FL.r
3 ~ 5Y2 I~e~a~rne?r~t of Hoxnebuyer Aslstarl~a I~aa~7 ......¦..¦¦YYYYYYYYYYYYYYYYYYYYYYYYYYY Y~
~ 5,3 ~CL~1'~~J V~4 Ha~{~V~l}~i"r` ~~~l~t~*~V~ ~a~~......,.YYYY,Y,YYYYYYYY,,,1,11YY,,,,,,,,YY 1~
315.E D~b~~r•~erner~t of Hor
VVnebu~er ~ita~~ce ~oatj; ar~itiarrs Precedent
Tl~ereto; I~e~~eloper''s a~~keti~~, Disclasure anal
H V `S~ ~il}y a 1111 Vlil1f... lY „ YYYYYYY,,,r11,Y,,,,...~¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦Y¦YYYYYYYYYYYYYIIIII,,,YYYYYYYYY 2+~
3 15 ,5 Lrl~ Or'dt1~ tt o t~ YYiYYiIYYi,Y „ YY,YY,,,, „1.,1.1.~~~~~.....,YYYYYYYYYYYYYYYYiiliiliilllll,,,,,,,,,,,,,
3 1 V l~ l'~~~lflp Fr4+~1,Y,,,,,,.,~.,~~.....,..Y.YYYYY,Y1,1111111Y,,,,,,,,,,,,,,Y.,,,,,,, a, a. a..~1.11,Y,,,,YYYYY, l~+
3 ~ . A 11~~7iR~V111}.~ Vl ~11~ 3JL l ~~VpVr' I{np~'iJ~~~~+~i~t„IIIIIIY„YY ..............aa~~....1111111111,,,YY,,,,,,~s~
3 ~ ~,1 A~~I'o~al of F arc rr~g IIIIwa,.......a..~~~111.YYIIIiiiYYYYYYYYYYYYYYYYY,,,,,,,,, 11 5
`J 1 ~f~ J,L; yri~~l~ H ~~}r~~ „ 411,4,Ja¦¦¦¦.¦¦....1~f¦f YY 11111YYYii,YYYi YYYYYYYYYYYYY,,,, I44.a~.~~~aa¦¦¦¦¦¦¦¦¦~ V
3I~Y3 ~1/~~~rr+Y~ ~~ifill~~/V~~FIIIIYI,YYYYYY,rr,rlllll,.l~~~~~..a......¦.Y.¦YYfYYffYlYYY111,,,YYYYYYYY
31 VY~ No Encurn~ral~ces ~XCept Nlor~aes, Deeds ofTrut, or ale arl~i
J_J~7,J{~~ iJ4;Vli ~V l+ S.J~~~~V F~Sli Vl~t YYYY1,Y1111 Y1,Y,YY,YY,,,,,11,11, 111 Yaa.aa...a~.ll if of ¦YYYY 111~~
31 .5 Holder dot Obligated to o~~fr~rct Developer ~rnpr~ 7 e~e~~ts, 11 Y Y Y Y Y Y Y Y~ I
3 I ~Y~Natic~ of I~e~`a~~lt to or~ee ar D~~d of Tx~~~~t Haler;
1 ll }yt tV ~~4,~ YYYIIY il, YY1111,,,,,,.Y...........a1.11Yf YY1YYY 111YYYYYYYY Yi FYYFYYYYYY4Y4Ylll~,aaaa¦¦¦ 1~
316.7 Failrr~•e oI'Holder to ~ornplete Developer Irn~ra~ements...Y..1111,1,,,,.,~8
YY
rr
~DO~DCI ~00~7~~r~ 1~~0~7~-000 ~
TA~~ NT~NT
~ox~tzx~x~~t~}
~ 118 Rlg~~t of tl~e Agency t4 ~1re ~~1`tae oa, Deed D~ Tl'11St Defal.~lt y y 11 IBS
40a1 DI'ERATI~ ~F THE FI~OJET4 yl ylf iii YYY444444444iiiiii i¦ii¦¦¦¦¦¦¦rr~,„111111114144f 44f1444444y444y11 ylllf,
~a ~ , ~1'Q~1~101~ 0~ Etl'e~1e1~ anal ~el'~ La~~r rlleolr~e Re~atal Hat~~n-~-Re~1t~I
I~V~~~Vli a~tl~e ~i'~~e~'f~Y yF'¦yyrr1111YYYYYYYY-YYYYYYii YY..i.i.¦~~~aa.,.ww111Y.YYYYYYYYf 1Yff YYYYYYYYYYf Y1111„YYYYYYY~/
1 V ~ Y R 1 {~}{n 41 e14JJJ Vl l 11 ~~Y'~i4F~le tlel~tti41 V~l1lItYYY¦,¦¦¦,,,¦¦¦¦¦¦ay¦yy¦yyyYaaa Yy Yyyyl ylyfff YYYYYYYY!
4V ly~ ~~4r?yt1a~~ V~~i~~•~{Li lFl~Yt~~ I~e~~{il'eln~/1 Lt Yf YYYYYYYf Ffff4Ff 441111111 i1111Y,,. Y........ IJ
/~/Ly ~ el~V~~~~~ V~~en~l,_~ Iii11111Y 11....¦........rr.y.Yf Y1YYYYyy4Yl y41111 y111tfff YYIIYf YYYYYYYYYYiii~J'
¦i {/J?ll ! i~VYA~~~el~~l IljVal~e ~~~yll'V~ne~~t YYYYYYYYif Yii4iii111~1,~~,....¦~¦~~,,......,.,y„y,y11~J
11/1, 3 i11V1'~4iVlIY J4-LVl~t...¦~¦~a.y..yfy..,,fff„yyYYlflYYf!lffl141111,1,,,,Y,,,.,,lll y. y.¦1„~a
15f ~ ¦V VYVLi~~+{IlL r LilSilt f11YYYYYYYYYYYiiiii¦1~1~....¦¦1¦I r11111yyyf YYYYYYYYYYYYYYYYYYYYYYYr FF1111111YY~V
~a~Y~ ~al'et~~a~ I~1#V~~~~n ...Yy¦yylyyllllyll,,,,111111„I,11,,,4441~~~.~~~ ................~Il~fyyfffYY~A+
~#/1.V ~~111~e11~.~1Ce IIYf 1YY„YY-YYYYi Yiiiiii~l~i¦¦~~¦IaffyyyffffflYYYYYYYYlI YYYYYYYYYYYYYYf YilIII,,, Y,YYYY..1
~V ~ i~ ~il~}~Line~~t 1 lwi 1 ~'~~~l~i~) ~Nll~}y Vlnell~.¦fffffyyyf yyyyf yy1 y111f YY 11,YYYYYYYYYYYiA
~~l lla al~~tS44JJ~1~~~1~ at]cl Recol'Clkee~ll~~,,,,,11111YIYIYY444i11¦¦~~........¦..¦¦~~~~¦¦¦y¦¦yyyyyyyyl5~
4~lYII l~eu~atoa~y Atfee~nent a~ld Notice ofAf'o~'dabilit~ R~trietio~l~ yyyyll~
¦l~ I~elaf1Q11~111~ t(3 Tax z'e~ilt I~V~Sl11I'en~el~ts 11114,,,111,, 111111111111/1111/YYYYYYYIY„~
401413 Applica~ilit~ of Seetion i,Ili.Y...33.....~11¦Ilylyllrrr111YYYYYYYYYYYYYYYYYYYIFrI?Ifr11111111,Y~
Fro~ilol~ of Moderate I~~calne For-Sale Hox~i~~g-~o~1~Saie Portla~~ oI~ the
~liV 1e V~Y Flllliiilll,i,,,.,...1....~~¦ff lfyy.y??y1111111ff4f YYYYYYYYYYYYYYYYYIYYYYi.......ii....¦¦¦....¦¦¦¦Iyyyf 4f 4y44YY~~
4r~,I Nu~nbel', Location arld ~lalit~~ ofAfl'ordal~le Foy'-Sale l~it~ 4444.44..4453
I ~FJ ¦JiwR 1t1L~Il E~a¦L~~n ~M~ 1 ~,~VY~ iiillll.......¦.¦¦yyrr¦yy F441YYYy?IIIIIIIIIIIIIff Yf YYYYYYYYYYYYYYYYYYII~~
~VL13 ~r°~.~ordable Haulll 1LV~J4{~V ~V~3t1',{L+t~~l~iiiiiiil ~a,a ..............aayyy44FFFFrrrrrrfll~'~
VL~1 [ Se~eCtlon afB~l~ers, ~4{L'lie al~~ ~lftl~+VYll ~1Lil~ ,~a... a...¦¦¦¦ryyyy111111f yV 1
4015 Ineolne o~B~#~'e~'s,¦¦¦.¦¦¦¦¦¦¦rr¦~~,Ifi1114141fff4441414111111111111111111141111444441111,,,,1,,,55
////~J4J~~ ~{y~ y( [~yf yr `{y; ~{~r ~[~y'1 ~ `/1, *r i/~'{{1 /{/'y1~~i/-y//y~~~y~~~[)
~~~"1~ ~F+~+~te~~N+~Y~ ~l VlI~L4~~tf~ ~a Y1Nti 4111 VVti+V liYY4YYYYY4Yf 4Fffi1111,,,Yii,,,,,,,¦¦~~
~~L.e4~ A~~l~cablllt~ O~SeCtlol~ 111111111„14„¦¦¦¦¦¦¦.¦.¦,¦¦¦¦¦¦y¦yly¦¦rryyr111111f 11YYYYff YYYYYYYYYV
¦R~31 I'to~~siot~ ~pplical~le t0 tl~e Ellttr~ P1'o~ect4 iiiiiiiiiiii¦¦4¦rr¦~r~~~~~¦¦¦¦¦y¦¦¦IIIIf 444111111111145 ~J
403y1 Lie lIl Aceo~`~a~~ce ~vith Rede~elaplnel~t ~lal~ 1,,,1,, 1,,,, 1, 141444111114¦......¦~~~
X03¦if ~l~lyi'i13S1~~4#t~{J~{,[ ~~V1~LS~~ttJ¦Yyyyy11111y1111111111fffY111111111111,IJ,YYYYYYYiiiii¦i~...~~
IV~1~ ~pplieabil~f~' a~~~tlQll YYYYYYYiiiiiiiiif Yfa i¦„a,¦r¦¦r~,,,aaaaaaaaaaaayayyyyy1111 yYllllyl lif~~
5a~1 L~'11J~1 1~T1L1f{ ~i {JT1J 1tL~ 1A-.R1JIi..J¦a¦¦aayaYYyYy1111111ffIfYYYIiiY,fYYYYYYYYY,¦,¦Y,¦¦.¦¦¦¦¦¦¦¦,,,,,¦„a¦¦¦y¦yy1111wyfyyyfY~V
V' i l.J eiLi~+~t 1 4e1~~1V H 1~~ YYYFYYYf YYYYYY4Y4il i1,,,,,¦.~¦¦~,a,.....,.,f „f,,,,,,YYYYYYYYYYYYYYYYYYYYYYYf 4f 1111,,,,,,, 111,. V
5 ~F+1 ~L/4/t~~~i~i Vl~ 111 1.Jel~-~4i1 ! 1MtY V~l1,l 41,II,Y„YY...Y......¦¦¦.1¦..¦.yfffyfyYYYyYf 4111 y11111111f fYf1111ff YYYYYYYYYYYi,JV
5~3, I~lllt OfT~I'1>llllatlalll Illlyl,yl,1111111111/114i44¦.¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦yllllllllllyyyyyyylylllll/lllllllllllll{~l
5~31~ lel'~nlnat~o~~ ~r ~}y V1lY~.,,....ffffl,yy Fyllyllllll„44441,I,,,,,,,,,,,,YYY...4 ..............¦I~J'
54f3i Tertnl~~atlal~ b~~ »e~elope~' 1/44111111¦~¦,~~~,.,,,~1~1¦Illlllllllylllll,y,,,,,,,,,ll F4,,,,,,I~l
5031 Te14t~lr~~atlan b~ Eltller I'll..ai't~r414111„li ................~,a~a.,.............f.,f,ylyllllf,lf,Va
50 11 l l~Ve~~4{11Ve V~el'T 1Ve a~~~'{JV V~~ ¦¦¦~¦¦~~~~fl¦fff YYYYYYYYYY 1111f iYYYYYYYYY{Y{Y{{!{444111fi,lll,,,,i¦,¦¦~a
I~l~l~t5 ~l~d I~el]~le~lles ~1'e V~~~~~f~Li~l~V.,.........Y...YY.YYYf.fYIYYYYYYYYYYYYYYYYYYYfFf111,f,,,YYlii1,VV
5~~, InactlQll J~ 1ti.+t ~ IS 4#~~'AIIy ~f~~e~4s~S1t 1111f,1,',,,,,,,,,,44,444i4Y„YY,ii¦i.¦¦¦.¦~.~¦~~~~~ ..............Y,..YY~V
~ar ¦ 1 4+1'{,/e L4i~L41~e~ }.J{7.t Va14J1 V1~ Vl T~il~e~ 411 ~~l'1 V1F111441i4"e 441111111,1111,1~1,¦¦¦¦¦¦¦a¦¦¦¦¦¦,¦¦¦¦¦¦y4/V
~a ~I~~~S1~~S1 1/11111111114IIIYYYYYYYYII¦......-¦¦¦.IIIIIIIIIIIII yl1111/l/y/llllllll/1„/IIIIIIII//YIYIIYY4J1
~V ,4 i ~~t1C~~, ~e1n~11~S NI1C~ ~In1~71.1~]iC~~1~lYS ],..+t~Veell the ~4.1'~leS I,,,,,YYYYYYYYYfl444iiFf11~
~1~
111
DOCS~CI14~~?3~~131~0~~7~-0~~1
TA~~~ INTENT
~oii~i~iue~i~
~~++1 T~'~t~~~t' ~f 7i~~~re~t 111 iJ ~i ~}.r~;~~J~\+~~Y 4rrr4r41,.,,.¦..¦,.¦,¦¦¦¦¦,,......... ¦.....4.4.~~~~i. a..~~
V ~#-I1~ P~`ai~i~J~i V~~ .YY.YYYY,.Y........¦..........rrrrrlrlrrrllYYYx44Y44YY4YY4}#}#}}Y44YYYYYYYYYrrr111111YrYYY 6 i
~O~Il.e PV~`~ 11~~~T1+~~lF V~,,YYYYYYY444r111,1,,,,.¦¦¦,~1....¦.¦..r
................rr............~~~......~1
u a+++'~ A" ~I+~~ ~-^a~~+ti*~+'+'*~+a~ a~~~~~~~+~~~ T~14t~i~i~/1+ YYYYYYYYYYYY+I +IIIIfff YYYY 11f YYYYYYV
S~~~C~S~t~ ~~~~~¦¦......rrr'...........++..}r}.}rrrrrr.rrrrrrrrrrrlf if YYYif if if YYx YYxxv?
~~+~4? Assln~nent ~~t Age~~c~ YYY+Yrrlll?t YYYYYYYYf YYYYYYYYYYYr YYYYYYYr Yrrrr11111J,,,YYY, 1,,,,YYYYYYV~
~~~.6 No IYOS ~efalllt~Reease f~'am Llc~bilit~xxrxrxlrrxrrx1+111+11111fY11111fYYYYYYYYYYYV~
klO~r N~t~-L1~~1~1~~ gf~f~c~a~s c~~]d I~~17~~~~~~5 ~f~~~ ~?~I~C~
604. Re~a~~at~s~lp Be~~een Agency and De~'e~ape~, YYrrx+11111 kk11 k1111YIIY 11 x11 r111fff1YYYYYYYYYYYYYV +
{f 51 ~y~V~~~~ ~~~,a }Lil~ ~V~~a~ ...~11f.1....Y+YYrYrrrr Yrr YYYr Yr111111111ftifffff YYYYYYYYYYYYYYYYYYYYYY++~ ¦
~~Y ~~~~~~~~+~~lll~+~i~ YYYYi YYYr Yr1 YYr11111111+1Y YYrr11111f YYYYYYi Yiiiiiiliiiliiii111..i.,a,J.,......... + ...................6 f
V~~. j~~~Y}y~,~~~L+il+++¦r¦+r..r...~11111-i~i.~.. rr~r.1..++++rrrr111 r11fffffff+f+lfff YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYrr+rlV F
6~~. Real ~s~a~~ ~lial`~~}LS~~ k/V~~~~~~~~la~i+++.rrrrr1r11111r11f+f YYYY1111f1YYYYYYYYYYYYYYYYYY+r+r1111rY+11r111V~
V4J+ ~~4+~`++~~' ~V~~ 1111 11YY lYYYYYYYYYYYYYYYYYYYYYYYYililll if lllf if llf.,.¦....ii..ai.J.i.. a...........
V~ar T1~~Vs} ~tld ~(.#~~101~+7 YYYYYYYYYYYYYYYYYYiiii++r1YY111111ffiY+Y,ff,YYYYYYii..Y.i.,,,.,,..,..¦¦¦.......ii.i.~.~~..11V~
6 1 1 ~ ~~~~~~'~~'V~ti~~a~~..........+....+.+..+.......+..+.rrr1111111ffff YYYYYf YYYYYYYYYYYYrirrr YYr Yir YY++++11111111 11111111 +++Y Y
1 F.'1 ~1 a lll~~s T[y4Y,.......¦..+.¦ .................+.,,,.,..........rrrrrrrrlrY!llrrrr Rr4r Yrrrirrrrrr Yr11 r1i 1i rir11111fff+YYYY1+~
V~Y ~~~~'~~111~! YYYYYY+YYYYYI YYrI x111111+1+YYY+YrY111+f,YYYYYYYYYYYYYYYYYI.YYY..111111111~111,~11......... ~
6~5. at~p~~a~fan afTin~e1.111.11,11,.1,...+.+...•r¦¦¦¦¦rr•rr...•.+1111+I.IIY..11..++++1+++111111.....¦¦¦¦¦¦¦¦¦¦¦¦6~
V • ~+~1S ti++ • ~w+~•••rr.~1.~.f1~.w.w.f..f... r~wllffff Yf.lr!llrrrl rl rrrrr1111 rl rrrrf Yf if Yff Yi YYYf YYYYYYYYYYYYYYYYYYYYYY+Y V V
V~~i T~j~J++~ V~~4J~V~~V~Iliii++i,x,,, Y+xYx+YYx YYYY,xxx YY.Y1Y.11/11111/ill..........~.~ii~~..~~~~~....f ..................r~~
6~~i Vaa~~~•N~~a~~lllllxxf++„YY+YYYYYYYYYYY++If YYYYYYYYYY1111/111,11„111.,11,..,¦.¦.¦¦.¦¦..¦¦¦¦¦.......... r.1~~
~l~f ~n~cts V~l~1~e~1es~rAAArYYIrYrrrrrrlrrrrrr+l+rr+ll+llYY++++Y+++YYYYYIYYYYYYYYYYYYY+YYY+YYYYYYYYYYYYYYYYYYY111YY~1fi
~u• D~L~ a~~ i!~-t~+~~~~~~~~Yr¦Yrr.rrrrrr¦rrrrrrr1 x1111 rr1f 111f YYYY+YY++YYYYYYYYYYYY+YYYYYYYYYYYYYYYYYYYYYYYY++++xx111 Y+YV?J
62~ Y ~~r~~l~rr~~nS~Ja~~o~ o~Agreex~~~~~ ~I~d ~~C~l P~»~ af~~~e P~*a~ec~ ......rrrrrr+r11r11+1111f,t1~-+
ATTAH~ENTS;
ATTACHMENT ~~11 SITS NIAP
ATTACHME~iT 0. LEGAL DI~SCRIPTI~N
ATTACHMENT N~r ~ GRANT DEED
ATTACHMENT ~ B~U~E~'
ATTA~~IN~ENT N. ~ SCOPE F DE~EL~PENT
ATTACHMENT NC. ~ RELEASE C~NSTRHCTICN ~~ENANTS
ATTACHMENT NC, ? REULAT~RY AGREEMENT
ATTACHMENT ND18A PHASE FS PRCIISS~~~' NOTE
ATTACHMENT N~. 8B PHASE R~ 1 AND PHASE R4~ PRMISS~I~Y NOTES
ATTACHMENT N~. 9 DEED TRAIT AND ASINENT ~ DENTS
ATT~ ~P'~1N+T N~. ~ ~ PERM F I~.E" ~D'?U~I,I"~~~C~' IPT R~~?PORT
~TTA~HIEN J. ~lJ. ~ 1 i ~I~ HkJJJll~ 1 JJ14 ~V~~ ~4~~4~~[Ti~,1~T
A.TTA~MENT N~. ~ N~T~CE AE~~RDA.~ILITY RESTRICTIDNS
ATTACH~VIENT N~+ I LIST OF DEVELOPER'S CONSULTANTS ELIOI~LE TO
INCLUDED IN THIl PARTY STS
1
1~'
D~CS~CI14~~673~R1312~~~7~-~~~1
D~PS~`~~~N AND D~~~PMI~~NT ARE~I~~~I1
TOYS DYSP~SITI~N AND DE~~~P~N~` A.~~~~NT this "Agree~~~e~~t"~ is
entered rota as of J~~ne 7, 200, b~ acid bet~~een tl~e ~~INIDN~T~ EDI~~~~P~N'~
AI~~N~ ~F TI3E SANTA ANA, ~ public l~od~, carparate and politic the
"Agency"~ at~d SANTA ANA STATION DI~'RIT, LLB, a alifor~~ia lirr~i#~~ liability
co~~~pa~~~ ~the "D~el~~]eI'"~.
R~~IT~LS
The following Recitals are ~ sa~hstanti~~e part of this Agree~~e~~t,
A. Tlxe A.ge~aoy i a ~alifo~;t~ia rede~Telopmer~t agency acting ~~ndet• the alifot•~~ia.
oir~~r~~~i~it~ Rede~elop~nent I~a~~, ~'ax~t 1 of Division of the Health Safet~~ fade the
"~RL"~, Sectiali ~~~34,~ e~ seq. of the R~ autllori~cs acid directs redevelopt~e~~t agc~acies #a
expe~~d a certain perce~~tae of all taxes that are allocated to a rede~elopt~et~t ag~~~cy purs~r~at #o
Se~tioi~ 336?~ fa~~ #hc pu~'poses of inc~~easi~~, i~~~pi}ovin at~d preserving the C~lllil~llilit~~'s s~~ppl~
of l~ousii~g, availal~l~ at affordable l~o~~sing cost, to pc~•so~~s at~d fair~ilies of madeiate incairie,
~ei•~ lo~v incoirie, and extreiriel~ lo~~ income, Pursua~~t #o Section 33~~ of tine CRL, tl~e
Age~~c~~ has estahlisl~ed a Lo~~r gild N~aderate Incor~~e Housing Fund ~#l~c "~ousir~g F~#nd's~,
B, Tl~e ~Age~~c~ ~s autl~ori~ccl at~d etr~pa~vered cinder the RL to pio~ide fuildiilg for
the productio~~, iiripi•ovet~lent, oa~ prese~'~ratiot~ ofaffordable pausing using tax inci•et~ei~t ie~en~les
from the Housi~7g Pui7d, ar~d pecificall~~ for tl~e cot~sti~uctioi~ of b~zildit~gs or sty'€~ct~~~~es for
affordable l~aus~ng units far la~~ Qi• iriadei•ate incon~e persons pug;scant to Sec#io~~ 3~,~~e}~5}
of tlae R~,
The Redc~elopxne~~t Plan for #h~ ~Ie~~ed P~~o
ject the "Iered P~~a
ject"~ was
approved b~ Ordii~ai~ce has, 2~2-~~~7 adapted by tl~o pity o~~ncll of the i#~? of Sa~~ta ~.t~a
~tl~e "~it~"~ o~ Septeinl~ei• ~o, ~~~4 ~tl~e ~`Redc~relopt~~ent Plat," tl~c geograpl~i~ bat~nda~'~ of tl~e
.c~•ged Project is tl~e "Project Area"}.
D, Do~elopcr is e~perie~~c~d i~~ #l~ cat~stri~ction, developrrie~~t, aperatioil and
trianageinei~t of high quality housing ~hicl~ ~s affordable to persons a~~d fa~~nilies of ~er~~ lo~~ at~d
lo~v inca~ne in Solitherri ~alifainia,
~t~ fi~~+thcrance of file objectives of the RL, the Aget~c~ desires to facilitate the
~~ede~eloP~nent of approxiiriatel~ six acres of real P~~opei~tY lacatecl ~vithi~~ tl~e pity, pai•tiall~
~~ithii~ tl~e ho~~ildai•ies of the Project area, ~~hicll consists of ~ri~~rripro~ed lots and i~~p~•a~ed lots
with reside~~tial uses ~~rith certain parcels o~v~~ed b~F third parties ~tlle "Additialial Properties"},
ar~d certain parcels o~~ried by the A~e~xcy ~`#Ar~cy Pa~~ccls'}}, acid certai~~ other parcels o~~~ned
lay thli•d parties tl~e "Segura Parcels"~ ~~rl~ich Agenc~~ has a right to acquire p~~i•s~~ar~t to fi~~l~r
cxec~ited pl~rcl~ae agrcernei~ts the "Segura Purchase Agreen~etlts"~, Tl~e Ageirc~~ Parcels,
Addltiailal Parcels and egtri•a Parcels are sho~~t~ on tl~e Site dap at~d the Additional Parcels aid
Seg~~ra Paieels are listed ate Attacl~t~ot~t o, ~ The Agency is attempti~~g to acqui~•e the
egut+a Parcels at~d tl~e A.dditioi~al P~;o~erties. The Segura Parcels a~l~l the Additional P~•operti~s
acquired b~ tl~e .get~c~ prior to tl~e applicable lasii~ shall be included as part of the Site iii
1
DDC5~C11 ~~~67~tiR 1 ~1~~~272-~ 0~ 1
accol'dance with Sectiot~ 207. The Segura Pat'cels al~d at~~ such Addif~anal Properties so
lrrc~uded p~~r'suatlt to Section 207, together with the Agellc~ Pat'cels 1'eferred to herein as the
c` lt~f"
By this ~greetrlex~t, and Etb
jest to the ter'rrls and cox~ditions herein, the Agency
[le1I`e to tr'ansfer' the 1te to the Developer, The De~elaper desrr'es to construct on the S1t~
affordable rental llo~~sing that will be a~railable to arld occ€~pied b~ pel`sol~s arld families of ver'~f
law irlcatne atld extrellrel~ low itlcon~e, affordable far'-sale llousillg that will be available to alld
occ~~pied b~ pe~'sorxs and fat~lilies afrrraderate irlcolrle, a~~d ~la~•l~et rate far-sale ho~tsirlg that gill
be available to all b~z~ers, pursual~t at~d sElbject to the ter't~s and cotrditiarls set far'tlr ill this
A~'eet~ret~t at~d firr~lrer' described itl the Scope of]~e~?eloptr~elrt the "Project"~~
This Arectrlel~t is rrl fitrtlrer'arlce of and supel`sedes, with respect to the Site, the
PED~~EL~P~~VT AR~E~II1~~'
]~~STIT A~T~I~ P~AN~ at~d P~~~]~~TEL~PET
AREEII~I~NT-AE~Y PALS between the parties hereto alld both dated I~ecerrtber 7,
2009,
Tile Site will be col~ve~'ed to Developer atld developed i~~ three sepal'ate phases
"Phase ~ "Please ~lld Please put`suatlt to the ter'nls of t111~ Agr`eetr~e~~t. Pl~asc ~
al~d Phase R-2 shall both colrsist of of
fordable rc~rtal l~aElsillg that is a~~ailable to and occEtpied b~'
persons at~d fatr~ilies of vel"Y le~~~ irlcame acrd extr'ell~el~ low it~calrle. phase ~ stlall colrsist of
foe'-sale lro?xsit~g, a po~`tiorl of~vhich shall be available to a~~d occElpied b~ persarls acrd farnllles of
llrader'ate irreatne, acll phase nlay ~1t11~Ze a samewlrat drfferelrt acrd separate fi~~at~cin trrlctrtl'e
as provided 111 nlar'e detall 111 tell Agreelxle:rt and as rna~ be fttr'tller' itnplelnetrted arrd clarified irr
oz~e al` ~r~oz`e ~n~pletnet~tatlan Areerrlelrts ~defitled i~r Section ~ 0~}, each phase rrla~ close
separately ira wl~licl~ case the terrlls set Earth llereil~ for ~~os~n at~d sEtbseq~tellt de~'eloprl~ellt shall
apply' to each Phase,
The parties acktrowledge and agree that the financing alld other te~`r~~s set far~th in
this Ag~`ce~~ret~t t~la~ require adjustmerrt to ells~~t'e teat the Project ~tncluding each Plrase tllel'eof} .
is developed and operated in a manner' r'easotlably acceptable to the Agency alyd financially
feasible far' the Developer'. Therefore, its tl~e event the Developer' is required to find alter'llate
financing sources for the develop~r~e~~t acrd aper'ation of ally for all} Pl~ase~s~ of the Project,
~ii~ ox~e or trrole Phases are s~lbject to a Transfel4 prt~'sErant to Sectiarr ~D2 her'eof ~otller4 relate
transfers per~~~itted pursEral~t to ect~all ~a2,2~, alydloti viii} the terlr~s ofthis Agt+eetrletrt as to alre
ar tnar'e Phase{s} of tree Project otherwise requires adjrlstlnerlt, tree pc~l`ties rrray tregatiate, as
rlecessar~~, in good fairer acrd reasoz~ably consider erltel'irrg into orre oz` more additional
Ir~lplenle~~tat~o~~ ~.rectl~cl~ts far each Phase oftlle Pt"oject~
J~, A pol`tio~l of tlae Site is located aErtside the Project ~~`ea; however, sep~r'ately
Agerlc~~ and its Iegislati~re body ~i.~., the ~~ty arttrcll of the rty~ leave deterlrlil~cd that tl~e
co~~veyance of tree Site specifically, that por'tioll of tl~e Site that is located o~~tside the
Project ~t'ea~ by the ~.gency to the Developer' and the Derre~oper's constr`uctran atld de~'elaprllent
of tale Project pur'suarlt to this Agl'eetrrerlt will b of benefit to tree Agenc~r's ~e~~ed Pro
jeer
pursuant to Section ~~~~4,2~g~~t~ of tree CAL, with respect to the portion of the Site located
wrtlllrl tree Project area, tl~e 1~~~eloper's canstructian alld de~relopt~~ent of tree Pr'o
jeer orr such
D4CSOCI~~~~~734'131~!)O~i~'0~~1 ~
paI'tion o~ tl~e Site puI•sua~~t to this ~~+~elnet~t ~~ill h~ ~f he~re~it to the ~e~~~'~ ~VI~~'ed P~'oj~~t,
the PI•o~ect area al~d its i~illabita~~ts well as the ~'emait~del' of tl~e co~nlrlkl~~It~.
The Prejeet i vital to a~~d i~~ tl~e best ~ntel•est of tl~e pity al~d t~~e health, safety and
welfare of its residents, and IS in accot'da~~ce ~~ritl~ tl~e pkl~~i~ pk~I'pQSes of applicable state and
local laws ~Ild regk~Ire~nents.
T~~~`~~, for al~d IIl cel~slderatiol~ of tl~e ~l~kltkl~l prot~ics, Co~etiatat, and
eor~clitiens he~'ein cHtained, the parties la~•eto aI•ee as folo~~s~
Vlf1 11~~~E,~~l~i lr
"Ab~?~e~~~ef~~I~epa~~~" is defined its Sectiot~ 2069,
"~fr~c~~ .t~o~~~er~e" ~r~ea~~s tie actk#al kl~ov~rle~le of tl~e Agel~c~ ~xeckrtl~~e ~lrector
at~dlot` llllan~ Itte off` tl~e ~e~elaper, ~~itlla~~t C~klt~ of fk~~'tl~er ~nc~ulry or' il~~estiatiot~. kith
respect to developer, tl~e idel~tit}~ of the afficer to ~~~l~ol~ ach~al kt~o~vlede is att~•ibklted ~~.a~
change k1p0I~ ~Il~ trat~sfer h~ Deveope~' p~rx~sx~ant to Sectio~~ X02, And such cl~al~ge shall be set
forth in tl~e instrklt~~et~t s~t~ed by tl~e Ae~~e~ releasil~g developer as CQI1tet~Ip~at~d. h~~ Section
~02~~~
"~id~~iiia~ra~ ~'r~a~e~i~ies}' Ineal~s certain pI'epe~'ties o~~ned by thi~•d patties as sho~v~~ on tl~e
Site Niap that the .et~cy tr~a~r acq~zi~~e a~~d ~~v~~ich will, if ac~k~i~•ed prior to ~i} ~ritl~ respect to
Phase FS ~~itl~in fo~'ty»five X45} days of tl~e date of Areelne~~t ~II~ 4vit11 ~•espect to Phases R-1
a~ad R-~, at least Forty-fi~~e X45} dad? prior' t~ the date of al~y subinissiot~ ~f a Tax credit
appllcatlo~l to ltlcluded kIl the ot~ve~'al~ce ~~~itl~ respect to sk~Ch Phase,
`~~lr~t~rr~r'ot~c~~ ~P~~~er~~r'es o~r'~~" ~s defined Sectiol~ 207,
f
f
o~~~~rr~r'~i~,t~ .~e~~rac~" as to a Re~~tal C~~~~t ~ def
llled ~~1 Secflot~ 401,2, al~d as to an
ffordal~le >~ar-Sale ~I]It IS defil~ecl III Section 42,3.
;`A, fo~,da~I~ ~'o~~~`~~~e ~I~~if~s)" ~~~eans a For~Sale [~~~it boa, n~k~ltiple ~oa~~ale ~~its~ that
islare restricted at~d sold b~ tl~e De~rloper to ~4oderate Il~cotrle Households pl~rsk~ant to al~d
cot~sistet~t ~v~tl~ tl~e ter~~s oft~~s Agl~ee~r~ent~
f~o~~r~~t~~ ~a~rsi~~ C'os~" n~eans the tr~axitrlk~zx~ pk~~'cl~ase p~•ice of air ~ffo~•dahle
Far-Sale 111~it b~ a Nladerate ~nco~r~e Ho~~sel~od pk~rsual3t to Health Safet~? bode
Sectiol~ 50~~2.~.
~`~i,~fa~+du~~e e~rf" means the ~naxi~nuln Inol~tllly ~~ent chargeable foci a Rental L~~~it as
described in Section 4~ 1, 5 .
"~#e~tc~;" Iean tl~e olnln~~~~ity ~ede~elapl~ent Agency of the pity of Sat~ta ~~~a, a
pk~blic body, corporate al~d po~Itlc, exercisi~lg go~ern~rlental fkal~ctiol~s and powers and organised
and existing kinder l~apter 2 of the or~~rn~rn~t~ Redeveloplnet~t 1Ja~v off` the State of alifol'nia,
al~d any assignee of sk~ccessor to its r4ights, powers anc responslbi~Itles,
3
D~~~~~ll ~00~73~~~ 31~~~~~2-~~~ 1
".~e~~cy Deed of ~'r~res~" 1]~eans a deed of tl'l~st ec~u'il~g earl] Pro~]]issol'y Note, as
provided in Section 4,4~ lt] the fol'~n of Attacl]~ncl~t 9 hereto ~~~~]l~h incorporated 1]el'ein by
reference.
"Agr~c,~= '.~•ec~~~ive Dr'~~ec~or~" means the xecutl~e I~lreetor of the Agei~c~ or his ol• leer
esll]ee.
"~er~c~= ~~r~rtS" is defined in Sectlot~ ~ 14, 1,
"~~~rrct= ~'r'~~e ~as~s" i defined Sectiox] o , ~ ,
"~.ger~c,~='s C~~r~dtti~rrs Dr+ece~~errf" 1]l~~l]S the ~oi]dit101]s ~~recedent to tl]e ~Iosii] foi{ tl]e
bei~e~t of the Agenc~~, set fortl~ in ectiat~ 204. ~ l~erco~.
"~gr~eerr~e~~~" n]eal~ tl]~s Disposition a~~d ~~Veopi]]~i]t Arcei]]ci~t bet~~eei~ the Aei~cy
tl]e De~elopei',
"~ssoc~~~~i~r~ C'~~s" is dulled ill Section 15,4~c~~i~.
"~~[e~" ~~]eans dc~elop~rlei]t l~l~~g~t foi' earl] Pl]ase attacl]ed llei'eto as AttaC~]lYlellt
No. 4 a~~d i~~caaipo~•ated i~ei'eii] referei]ce,
~`"~1 1]lealls file ~allfoi'nla ~n~iron~riental ~ialit~ Act.
;`"E~4 C'lra~~~r~~e" means an action bro~iht cl]al let~~n tl]e ~al~dity of this Agreelnet]#,
the hand use Approvals or ai]y elei]~ei~t of
~l]e Project bae a~~ tl~e tl~eor~ tl]at tl~e ~pp~'a~Fals
~'eq~~ired i~eaie~~~]der 'ailed to cotnpl~ with A,
"~rr'~~~ rrr'e 1~aci~r~~r" is defined ii] ectioi] ~05,~,
"C'i~~=" means tie City of Sai]ta Ana, a cl]al°ter city and t~]~~~]ic~pal corporation d~~ly
or~anlzed L~nd~l' tl]e ~o~]stit~itiot] ar~d lags ofth State of ali~'or~]ia,
"~c~r'.~r~ o~~ ~r`r~~i~if~r" is defined ii] Sectioi] ~o~,S,
r~~~S1r~~~~ r~~U~e" al]d ~`~OSe o'~'scr'o}{~>s sl]all 1'efe~' to the ol]~cyat~ce a Phase
the Site il] aCCOi'Clai]G~ with tl]e provisioi]s set ~oi~tl] Vii] Section ~0 ~ .5. Tl]e Agei]cy and tl]e
Developer a~]ticipate that tl]ere rill e tl]ree losii]s, oi]e fol{ eacl] Phase,
"C~osr'rr~ Dade" inea~]s each date of a losit]g, as set fortl] ii] Sectial~ 201.4.
"C'~rrce~~r~r~ }S'r'~e .~~cr~~" ~]~eai~s those plans a~ld dra~~~ins sl]o~~ii] tl]e Developer
Irr~pro~e~nei~ts~ 4vh~ci] ~~~clc~de, lout are i]ot liinited to, buildii]g t]]atet'ials, color' l~oal'd, elevations
of all foil' sides of the De~~elopel~ Impra~ei]~ei]ts, prelit]~inal+y Iai]dscape plans ai]d a ~+ei~dered
pel'specti~e.
"'o~~sfr'1~c~fort Dr+u}Vrr~s" 1]l~alls tl]ose plails, specifications a~~d dl'a~~i~] suhtni##cd to
t~~e l~~zildin~ depal'ti~]ent of tl]e pity in sufficient detail to el]title tl]e De~elaper to tl]e iss€~at]ce of
appropriate h~iildi~] pel•tnits for the Developer 1r~]proven~ei]ts,
4
D~~soC11 ~~OG7~~F~ ~12~~~72.ODD 1
r~0#~lf~~asss ~1, rc0~~~~~~r~t~ss al, r~`Ot~V~~~t~12C~~~~ss I~1d1~1dUa~~~, 1S ~a1r~Te~al~Ce of a
phase of the Site by the Aerrc~ to the I~e~e~oper on tt~e Claslll date far uci~ Pease in the
rnarrtrel` set for~~r llr ectialr 2~1,, The Aelre~ acrd fire ~e~re~opel` atrticiPate that there ~vil~ be
thl'ee separate ~alr~e~~ances, one far eaei~ Pi~ase.
"~~rfe of
A~+e~~t~~rtf" lneatr~ June 7, 2~ ~
"~t~rf~~" i defined in ectiol~ 5~ l ,
"~~1~~~o~e~~" lneans Santa Agra Statlolr District, LLB, ~ a~ifoi'lrla l~nrited 11ubr~1~~F
calrrpan~~, or pe~•mitted asince~
~`D~ae~o~~e~+ I~~t~~"o~re~~~e~~ts" lneatrs fire ~o~~silr ~lrits and a~ocla~ed itnpro~ernelrt as
1'~~ulred h~T this A1•eement to he: (i~ ca~rstructed rrpot~ t~7e bite ar the app~ieable Phase t~~ereof,
~~~1th related affsite lln~i'o~eme~~ts, a mo~'e particularly desc~~ibed in the Land ~Jse Appra~ais al~d
Scope of De~e~ap~netrt, acrd {ii} operated a affordable housilr in ~alrfor;rni~y ~~i~ir the ~erln of
t~1S Aree~netrt ~~~ltir 1`~pect to ltCir Prase,
"~eUe~o~e~~ 1~~~~~~ics" is defined ilr ectialr 2~~,8,
r~.~~V~~~~~~'~S C~D~~t~~f~D~S' .~~`~~~t~~?1~s' rr~ea~rs conditlol~s precedex~t to the ositr for
the benefit of the De~e~opcl•, as set fot~t~r itr ectiotr 2~~,2,
"~eve~~p~rf ~'if~e ~~~s" is defined i~r Section 2D 1,1,
"1x~~~~;ot~~~re~~fa~ C'a~tdi~r'o~t" rnean the absetrce or existe~rce of {i} ~Iazardal~s atel•ials
alr the ltd, al" {11~ ~a~al"d~l1 ~t~t`1~~~ Corrta~nltratlozr (ll~ to t~~~ ~~1~~~`atl~l~ of ~a~al'do~ls
ateria~s ft`ol~~ t~~e bite, ~~o~~e~el• stzcir ~aza~`dol~s Materials ca~~re to be piaced ~~here fou~rd~
~`~t~#1~'o~t~te~?~t[~ L~~~~s" mea~rs any federal, state or local lam, statute} ordinance or
r'egrr~latian pertaini~r ~o en~irolrrne~~tal rerrlatian, co~rtan~inatian or cleanrrp of a~~~
Ha~ardol~s N~aterials, il~clr~dil~, ~~ltlao~~t l~m~tatlon, {i~ Sectiolrs ~ i ~ i i 7, 2~ i 22,7 or 2~ i
of the lifox'nla ~ealtl~ al~d Safety bode, Di~iiolr 20, ~lraptel` C, ~~a~ardo~ls haste otrtrol
La~~}}, ~1~} Sectlalr 2 ~ ~ of the ~allf
orlri~ I~eaith and afet~T fade, D1~1s1o1120, ~ra~ter 6,8
{carpenter-'resle~-Talrner I~azardaus uhsta~ee Accor~nt Act}, {iir~ ectlo~1255a of the
~alifa~"r~la ~ealtll alld Safety bode, Di~isiotr 2~, lrapte14 ~5 ~Ha~ardous ate"ials release
response ~'lal~s and ~l~~et~tor~r~~ {i~r} ectiorr 2528 ~ of the California ~.ealtlr acrd Safet~? bode,
Di~isiorr 2~, ~lraptar {i~rrderrorr~rd star"ale of ~Iazardot~s ub~tanees~, Ar~tiele 9 or
A1'ticle ~ ~ of Title 22 of the ~alifort~ia Adlr~initl"ati~e ode, 1~i~ision 4, chapter 20,
~~i} Sectia~r i of the glean atcr Act {3~ t~~.~ l 3 i 7}, {~rii} Scotian i Dad of tl~e Resor~~+ce
o~~ser~atiotr acrd eco~et{~ Act, q~2 U,S,C, §~9~ ~ e~ sect, {42 U.,, §~9~3}, {~rll~ ectlarr 10 ~ of
tine olnprelrerrsl~e ~lr~lrarrmental Respolrse, ~alnpetrsation and L~abillty Act, 42 U.S.C. 9~DI
secy., or ~i~} an~f state or fdel`l yen ot4 "s~~pel` lie~r" la~~~, and ens?irorrtrrental cleatrl~p statute or
rerllatlon, al` a11~ ~~1'tl~lt, appl'o~ral, autlrorizatlorl, license, ~a1'~a~rce al` pel'~nlsslo~r 1'~~l~ll'ed
alr~l o~~erlrmerrtal a~~thar`lt~ ~ra~ltlg~rr~"l~dietior~.
~`sc~~o~~" is de~l~cd in Section ~~1.
5
DO CDCJI ~I Q~b~34?13i20~27~-001 1
~`~sc~~~ ~4~~~~" is defined in Section ~ 1 f
"~vr'r~e~~~e of a~~s~~~r~c~r'~~~ ~'r"r~ut~~r~rg" rr~e~ns evi~.erice of f~~n~~ adequate in the
reasonable udgmer~t of tl~e Ager~cy Eecrrti~e Director, to cor~struct and oer~ate o~i market and
sell, as a~~licable, each Phase oft~~e Developer` Improvements,
"~3i~~~~~~e off' ~'e~~t~~~~~~e~~f ~i~~rx~~ciftg for ~~~e ~Re~tfr~~ .Pn~~~~~lt of ~~r .~~#o~je~~" means
evide~~ce of a perrr~at~et~t loan far Please R- ~ andlor` Phase as appiicalale, ire an a~rrar~nt rat to
exceed the arno~~nt necessary to take o~~t tl~e car~structian lean far` such Phase.
".~ce~~fior~s" ~s defined. in ectror~ 20 hereof.
"~`.~~~~e~}t~~jr ~o~~ ~rtco~te" ar~dlar ~`~~~~r~e~~~e~,t} ~o I~~co~te o~~sel~o~ds" shall meats
e~tr~e~rrel~ lo~~ incot~re households as deft~ed its Ucaltl~ Safety bode Sectior~ ~IO~
".~r'~ra~ ~'~r~~s~ r~~s~~c~~ C~osr'~~g ~ctfe" rrreans tl~e last date the final losing with
respect to Phase ~ tna~ occur,
"F~r'R?ale ~0~~~~~~x ~f ~lre ~ro~ec~" means that porttat~ Of tl~e Pr`o~ect that Co~~Stt tl~e
For-Sale Ur~its ~includir~ the affordable For~Sale Units~~ ~'he Fot~~Sale Por~tior~ of tl~e Project
cot~ststs of sr lots as rderrtrfied ors the Srte dap and shall be cor~str~tcted irr multiple phases,
and shall rr~cl~tde and Addrtronal Propertres desig~~ated for For`-Sale Units ~~~hrcl~ arse added to the
Project pursuant to Section 207 hereof. Tl~e fforclable For~Sale U~t~ts shall be located ~~~tl~ln
the Far`-Sale Por~ian oftl~e Project.
"~'o~' ~`~~~e ~I~tr'f~~)" tneat~s the I~ousrt~ r~rt~s~ ~rt~clusrve of the Affordable For-Sale
Units} that shall be cor~str~tctecl at~d developed on tl7e For-See Portion of the Pra~ect pursuant to
a~~d car~sistent ~~ith tl~e terms of this Agr`eerrre~~t. ~ fatal of a~roxit~atel~r thirty~t~vo X32} Fo~`-
Sale Units plus the For Sale Units to be cor~strricted on the ~.ddit~onal Pro~erties~ shall be
canstt~rtcted at~d developed ~y tl~e Developer, rncl~tsr~~e of flee Affor`~lable Far-Sale Units,
`~or~e~~~r~~e~~fr~~ ~~c~~~r'~r~~ne~r~s" rnea~~s all la4vs, or`dir~ances, statutes, codes, rules,
regulations, orders and decrees of the United Mates, tl~e state, tl~e cortt~t~r, tl~e ~t~~, or ata~~ ot~~er
palrtrcai subdl~rsron rat ~rhich the Site is located, and of at~~ other political s~tbdivisior~, ager~c~
ot` it~stt~~ttnet~tality e~er`clslt~g j~trrsdretlor~ over tl~e Ager~cy, the De~~eloper, flee
De~reloper~ In~provetet~ts, at~dlor tl~e Site,
;`~il~l~t?f .~e~d~s}" r~eat~s tl~e t`ant deed~s~ for tie ot~~teya~~ce of each Phase frorrr the
Agency to tl~e Developt~ far its permitted assig~rees}, lr~ flee for~n of Attacl~irrent ~a, ~ hereto
~~hich is incorporated l~erei~i ~~r reference,
~`~~~ci~+~~~~~~~+" is defi~~ed in ectian X04. l ~h~.
"rru~#a~rf,~~" is defi~~ed in Section 20~.~11},
"I~r~~~~r+doa~s ~~fe~~rc~~s" means substance, Material, oz` ~raste ~vl~icl~ is or ~becotnes,
regulated b~ and local o~erntrtental a€~thority, the State of alifor`r~ia, or the United States
overnrnent, ir~cl~~ding, but not lir~ited to, t~~ material or` substance ~~llich is ~i~ defir~ed as a
D OC~~I1 ~I ~~G73 ~t ~ 31~0~27~-001
`rl~~a~`dous ~Vastess} `reXtt'en~el~~ ~la~a~'dous ~~~ste~ss fit, "t`estt`iGted 1~a~ard0u ~vas~e" llndet'
Section X5115, X511? ox~ ~51~2,7, o~` listed pursua~~t to section 25I4Q of the Caiifat•~~ia Health
and afet~r Code, I)l~ision ~a, Cl~a~ter ~Ha~ardo~~s haste Cox~tt`ol ~ii~ defined as a
"l~a~ardaus substance' under ectio~~ X53 I ~ of tl~e Califort~ta Health tad Safety Code, Di~isian
~a, Chapter Carpenter-~resle~-Tanner Hazardous Substance Account Acts, viii} defit~ed as a
rrl~.~Zc~~`dalls n~aterlal}~s cchazardous s~lbst~nCe,ss fit, c`~~azar~ous waste" under` Sectlan 551 of the
California Health and afet~~ Cade, Dl~istan 2D, Chapter 6.95 Hazardous Materials Release
Response platys and In~entar~~~, ~i~} d.e~ned a a "l~azardo~ts s~~bstat~ce" under ectian ~S~SI of
tl~e California Heaitil at~d safety Cade, I)i~~stat~ Chapfe~` 6,7 ~Ur~det+grout~d to~'ae of
Hazardo~~s ~~bsta~~ces~, petrale~~m, ~~i~ friable asbestos, ~~ii} I~olycl~lori~~ated bipl~et~yls,
~~iii~ listed under Article 9 ar defined as "l~azardo~~s" ati "e~tretnely l~azardaus" pursuant to
Article ~ 1 of Title 2 of tl~e California Adtnit~istrati~e Cade, l~tvtsiar~ 4, Chapter ~a,
~i~} desig~~ated as rrl~azardot~s substa~~ces" pursuant to ect~on ~ 11 of t~~e Clean 'h'ater Act
~ C~,,C, 1317, fix} defined as a "hazardous ~~at" pursuax~t to ectiot~ ~ ~D~ of tl~e Resa~~rce
Co~rser~ation acid eca~e~`y Act, 4~ X6901 e~ ~ec~. U,,C, a3~ at` ~xi} defined as
"l~azat'dDUS substances" p~rt`suar~t to ecttan ~ ~ 1 of the Con~prel~ensi~~e ~t~~i~•at~tnental Response
Ca~~~pensat~ox~, at~d Llablllty Act, 42 [~,S,C, ~96Q 1 et s~cf,
"'~t~te~1[,~~~r'" means each pl~rcl~ase~' of one of tine Affordable ~"or~ale Units, i~~cluding
eacl7 n~enlbet' oftlle l~ausel~old eonap~~ising the pt~rcl~aset~,
ii.n~r~e~~~~~~~~ ~.S,Sr`Sf f[~~C~ ~Dl~lx" is d.efine~l itl Section 315. I .
"~o~r~eb~~,~f~~` ~or~tr ~#`e~~~re~~~" meats tl~e areet~~ertt ~it~cludit~g all attacl~tr~ents a~~
e~l~ibits thereta~ in s~ibstant~aliy tl~e fo~'na attached hereto as At~acl~tnetit ~a~ 11 and incot'parate~
l~e~`eit~ b~~ reference pu~{s~lant to ~vl~tcl~ tl~e Aet~c~ is to provide a Hotnebuyer Assistance Lawn to
a Hamebu~ea~ of a~~ Affordable p"ot`-dale U~rit,
"~~~~sr'~~g ~'~~~t~~" is the Lo~~~ aad Moderate Income Har~sit~ Fi~nd established ar~d fi~t~ded
b~ tl~e Agency pursuatt to Section oftl~e CRL,
~`I~~~~si~t ~~~a~
jef" ar "~'r~o~ec~"means the De~eiaper Imprave~nents,
"~or~Sr~~ ~~i~(s~" ~~leat~s the duelling ~~nit~s~ re~utred to be de~~elaped and operated b~
the Developer` ~~t~der this Agreen.~ent, including bath tl~e Rental units and the Foti-dale 1~ntts,
"~'~~~~~e~r~~~~fa~io~~ ~~~~~~e~r~" at~d ~`I~~~~e~r~~~rf~~fro~t ~.gr+e~~t~er~fs" shall rneat~,
llldl~ldlt~ll~ at~d C~~~eCtt'~~1~?, agreements entered into b~~ the Agency at~d De~elop~r ~01` its
perr~~itted s~zecessors at~dlar assigns} in at'~let' to itnplemet~t andlo~~ elat~if~ the tea'~ns of this
Agreernent, ~~rhich Irnplementat~o~~ At`eernerlts t~na~r be Necessary far eacll plisse of tl~e Praect
based on the De~~eloper's sources of funding at~d financing fog' file de~elopmett and aperatiot~ of
each Phase of the project in accardat~ce ~~ith floe terms of this Agt`eernet~tx as provided in
ectior~ 6~~ het'eaf,
"~r~r~~~~~r f~.'" or ;`~~t~~e~~t~~i~,}~" means to defend, itden~nify at~d bald ha~'tnless.
"~nvesf~~~ ~i~r~~~r~ ~'ar+~~r~#~~s~" shall mean, tl~e Tai Credit iimited par`tt~er~s~ of the
Develapet' far De~elolaer' pet~t~itted asigr~ee~ fot` itnpler~~entatiarr of ~17ase R-1 and ~l~ase R~2
7
D~sO ~1~ ~~~b73 c' 131~~0~7~-ODD ~
~ l
of the P1"o~ect, The Aerrc~ acl~na~~~ledes that Phase 1 and Phase R-2 rna~ have different
In~estar` limited Partners,
"~C#~~d ~Is~~~~~~~ova~~~" is defined irz Section 3~3.
"~egr~~ Desc~~ip~iotz" lneal~s tl~e legal deser`iptian of the Agency Parcels attaclaed hereto as
Attachment a, and il~cal'porated lrer'ein b~ r'efer'ence.
"or~e~~ct~e ~~~cort~" al~d "~Yl~r~e~~~~fe ~'~~o~~~e ~~~selro~ds" rrreal~s naaderate it~carrre
hauseholcls as defined 111 Health afet~r fade section 5~a93.
"o~~~~Iy I~o~fsi~r `os~" lrrea~~s, for` a oderat~ income Household rrr`clxasit~ ate
Affordable For'-Sale Unit, all of the folla~~it~ associated ~~ith such Affar~dahle Far-Sale C1nit,
est~matecl a~~ l~r~arr of the date of the proposed salef prl~lcrpal at~d rriter`est payrner~ts an a
~nal~gage loa~~, 1r1ClUd~t~g arl}' load ~I1sr~1`a~l~~ fees associated tl~ere4~ith ~pro~ided that if tl~e
r~~ortgae loa~r obtained h~ the ~~~~'cl~aser contains arr ad~rrstable interest r"ate, then tl~e pr4rncrpal
end interest pa~tt~ellt shall he deelned to he those ~~l~rcl~ ~~ould be d€~e upol~ a l~or;tae Iaan
arno~~tl~ed avel` tl~lr"t~-dear` perlo~l ~4'Itll alb lllterest rate e~~lal to p1'e~arlrn IY]ar'ket rates
thirty-dear fixed-rate mortgage loa~rs}; iii}property taxes acrd assessments; ~rrr}fire ar~d casualty
irrsurarice covering re~~lacelr~elat val~~e of proper"t~~ irr~pra~ements; ~i~} l~al~ea~vner' assacratron
fees; and a reasol~able r~tility alla~~~arrce, rTl7e ~orrthl~ Housing fast shall he ate a~~erage
estil~~ated casts for` the next t~~rel~e {1~} rrrontl~ l~eriad,
"~Vfo~~~~r~~~ ~e~rt" is defined i~ Section ~a 1.5.
"o~ic~}'shall mean a native in the fal"lr~ prescribed b~ Section Ga l .
"~~~~e o~ ~ o~~c~a~ir~r'~j} ~eY~~~~r'c~io~r" is defined in ectiot~ 1, l ~ ,
"~~~s~r'r~~ ~asr"erg ~cr~~" rne~rs the Phase R~ l ~r~tside lasir7g bate, the Phase I~-~
~~~tsrde lorrrg Date ar'the FS ~rrtside lasil~ Date, as applicable,
"~°c~~~~~~e~~slrrp ~4~~~e~~~~t~t" mealas, ~~ltli respect to e~eh of Phase R~ 1 and Phase an
agree~r~ent that sets forth the terms of a limited par'tt~ersl~ip to ~~l~ich tl~e Developer Transfers ifs
r'~l~ts, il~t~l'est, and ablrgatrorls rrr acrd to thls Areelnelat i~lt~X respect to the applicable Phase of
the dental Portion of the Pr'o~ect, as sr~ch agreement rn~l be amended from til~e to tine, so long
as conslstent ~~1th tl~e r'e~uir"o1~lel~t of tl~ts Ar"eer~let~t, The Pal'tl~ership Aree~rrerrts shall be
entez"ed illta bet~~ree~~ or` ar~ang the general ~~ar~tl~ers and tl~e rt~~etol` Limited Partner that
calnprise tl~e limited par"tnership that De~elo~er assig~~s its r`il~ts arr~ o~Oliatians to ~~ith ~~espeet
to each Phase of the dental Portion of the Px'o
ject~
".~~~c~~;~~s}" s~~all mean, ir~ividuall~r and collecti~el~, ~lxase Phase l-~ arld Phase F
Df the 1 1'a1~Vt,
`~~frr~~'~ shall n~eai~ the Phase of constr'uctior~ of the P1"aect ~~rlrrch shall rnclude the
de~elaplr~ent of a~pl'oximately tl~irt~l-t~~~o ~2} For~al ~lnits {i~1cl~~i~e of
Ville Affordable
Far-dale Unrts} on the For-Sale Por-tlol~ of the Slte, Specifieall~~, Phase FS ~~ill be cal~str~~cted
S
Da CaCI l ~DD(~7~~Tt i2 ~p27~~~D4 l
~lt~lltl tl~e area lden~lfied ill tl~e Stte ap coat ~~ss c~~~t ~}s~ "~.,Ot~ ec~at ~`~at ~lsx and
".~1ras ~'SAet~c,~} Loar~" is defined its Section 314,2,
"~~~rrs ~ t~fsr~~e ~'~nsi~ ~r~fe" trleat~ tie last date t~~e first losing ~~ith respect to
Phase ~S lnay occ~lr as described its ectian 20 ~
".~~rrrs~~ ~f~~~~tiss~t~~ afc" meats a Pt~otnissot'y Nate that sets forth the De~elol~el4's
abligatiol~ to repay the Phase PS Agency 1Joan in the for~n ~~l~ich is attached l~et'eto as
Attachment Na, atad il~corporated herein by re'erence.
".~1~~rs~ shall tnean the Phase of constr~~ctiot~ off' tl~e Project ~~hich shail include tl~e
de~reloptnent of approxi~nately seventy foal' X74} Rental I~nlts an the Rental Portion of the
Property, Specifically Phase R- ~ ~~rill be cor~str~lcted ~~Tltl]1? tl~e area idet~tiied ol~ the Site 1Viap
~S iiJ..a~t .l
"P~~c~s~ ~R~ ~ertc~a Latrrt" is de~~~ed its Sectiol~ 314,
"~~r~~se ~rr~sid~ ~~o~;r'r~ ~a~~" ~neal~s #l~e lasf date the Phase R~ 1 ~losit~g tna~ acc~tr
as described its ect~o~~ 201
`{~'lrc~~~ .Rye ~'xro~~r`sso~~~ and "P1~~rse ~'r~o~~~~s~~~~~~ ale" tneal~s, in the case of
each of Phase R-~ and Phase R~2, a pt~an~issory Dote that sets `arch Elie Developer}s ob~ia#ion to
repay tl~e Phase R- ~ Agency l~oat~ al~d the Phase R-~ Age~~cy Laarl, respectively, tl~e forln a~'
~~l~ich is attached hereto as Attachment No. 8B at~d il~carpot'ated l~ereill ley re~'ere~ice, Each
Pron~issaty Note s~all dear silnple i~~terest at the rate of ot~e pelce~~t {~°~o} per annum,
comn~encil~g upal~ the dale of fi~t~ding ut~dez' such Pro~nissory Note and shall be for a tel'ln
erldit~g ol~ repayment in full of tho Note butt i~~ no er~el~t later thal~ the earlie~~ to acc~tt4 0~ ~a} fi~y-
eighth ~~8t1~~ year a~eti recol'datlan of the Release of ~or~structiot~ ovel~al~ts, or fib} I~ecelnber
3 ~7, on ~~hich date all principal and accrued but unpaid intet'est shall be paid in full. Each
Note shall be t~ot~-recaurse to the I~e~eloper~ Each P1'otniso~*y Note shall be payable fi'atrl a
pardon of "Residual Receipts" get~et+ated by tl~e Phase to ~~rl~icl~ such Prol~~issat'y Nate relates as
set Earth In Section 1 and shall be secured by a~~ Agency 1~eed of 'rust.
;`~~r~rse .Rye"shall lneal~ tl~e Phase of cot~structian of tl~e Pto~ect, ~vl~ich shall irlcl~~de the
developl~~el~t of ppraximatel~x fot~ty ~~a} Rental ~~lits on the Rental Par~iot~ of tl~e ~'t'opet•t,~ al~d
shall include any Additianal Pt~opcrtles desigl~ated far Phase R~2 ~~lllcll ate added to the Project
pursual~t to Section 207 herea', Specifically, Phase ~.«2 ~~rtll be co~~structed ~vlthin file area
identified ~n tale Slt~ dap as {`Lai sss cc~Ot 3"and ccL~t ~Fss
"~~~c~se A~r~c~~ .~Of~~t" is defi~~ed in Section 314, I,
".~~~crs~ - ~r~tsic~~ Iasir~ ~~rfe" means tl~e last date the Pllase R-2 Clasil~ tray occur
as described 11~ Section 201.4.
"~r~ojec~~~~~u" rneatrs the project area far the Redeveloptnel~t Plan
9
Developer and tl~e Agency Exec~tti~ Directa~~. The Agency ~xecxttive Dit~ector is autl~or~ized to
ll~ltt~~l~ ~k~3pl+o~e the cl~ed~~l of Per•forance at~d take such re~isior~ a lie deems z~eoi~ahl~
necessary, subject to conc~lt{tence of tl7e Developer,
"Sco,~e o~
f ~~ve~~~~x~~~~" ~r~e~n~ t~~e Scope of
De~eloprne~lt ~~t~c~~ed i~ereto as
Attachrnet~t o, 5 at~d incorporated hereir~ by refe~•et~ce, ~vhich describes the scope ar~d duality of
devclapt~er~t of the De~reloper lrrrpr•ave~r~et~ts to he co~~strueted by tl~e Developer put•s~~at~t to tl~e
tertr~s at~d cand~ttor~s of this Agreemer7t, The Scope of De~elopme~~t is s~rbject to revrsron fi~o~
time to time as tnut~tally agreed upon its writing l~etee~~ tl~e De~e~apet• and the Agency
executive Director, Tl~e Ager7cy Executive Dit~ector is autl~o~•ized to male such re~isiat~s as lie
o~• she deet~.s reasonably Necessary, subject to the car~cur•ret~ce oftl~e ~e~elape~i.
"~'er~~Fr~ ~~1~'C~~S" are sl~o~~N ate the ite Map and described ~rl Attaclltr~et~t ~o f l
.Pt~~~c~~~~se Ar'ee~rr~t~ts" is defined ire Recital
`~S~~e~' has the t~eat~in set fartll in Recital
`~~ite a~xr~ifio~~ is defined in Section ~U~,2,
;`~S`~f~ ~T~~~~~{oi~e~~~e~~fs" means all existi~~g, as the date hei'eaf, above-ground str~tct~tt•es
and ~ttadergt•out~d basett~ents, utility vaults at~d~ar septic tanks, and any debris associated ~~riti~
deiriolitioi~ of the fareoir~g, including ~vitl~aut li~nitatior~ s~tch basetrtet~ts at~dlor septic tanl~s are
identified on Attachrner~t o, l ,
"~S'r"fie means tl~e i~~ap ~~l~icli is attached l~ereta as Attachment o, 1 atad
incaiparated l~e~•eit~ by reference,
"Side ~'~a~~ ~trr'ew .fie" means file fee imposed. pui•suar~t to pity al~ncil Resolirtion
No, ~~0-a~~, eetiol~ ~lrl, Re~ret~ue Account No, 549, as atneiided Frain time to tithe.
~cS4~is r[~~r~ ~e~~o~rc~cl C~o~t~~r~r~~~ means tl~e Cotadtttot~ of the sail and itS stability as It
relates to tl~e developability of the bite,
"~`rl~t" `~~e~~if ~~g~r%~~o~~a ~g~'e~~~re~r~" sl~ali mean file regulatory agreements ~Vhicll shall
be recorded against each phase of the Rental 1'artio~~ of tl~e bite ~oi• aryl pot•tian tl~ei•ea ~vitl~
1'eSpect t~ tl`ie tssz~aNCe [3f Tax i'edlts,
"~"c~~~• C'~~~r~r'~s}" s~lall tne~t~ fede~~al la~~~ lnca~ne lla~rslt~g tax credits gt~at~ted p~~r~sua~7t to
Section 4~ of the ri~ter•~ial Re~et~i~e bode and~or, if applicabie, state tax credits pi~~•suattt to
California Revet~ire ar~d Taxation fade Sections 1707, 17a5S, ~3~10.4 aiid ~3G1a~ acid
a~lfari~la Healt~~ Safety fade Sections X019, s~r~.
"~'~C~' means the aliforiiia Tax ~•edit Allacatioi~ ~orr~mittee, the allocating agency
for Tax credits iii ~alifai'nia.
~`~`11i~'d ~'a#~~~ ~'~.~fs" means Site ~lai~ Re~ie~v pees and those arnouiits actually paid ar
abl~gations ii~curi'ed for ~vorl~ actttally lane by tl~ase consultants, contractors aid ad~isoi•s of tl~e
11
DOC~1~~0~673~~131Z~~~72-001 ~
Developer listed ox~ Attacl~n.~ent I~o~ 1 and incorporated herein by reference nat to exceed
T~va Hut~dred sixty-Five Thol~sand Dollars ~~~5,QD0}.
"~"x~~e Cot~~~a~~y" ~ def
i~~ed in ectiot~ X02,
"~'r"tie ~~~ic~~" is de~n.ed in Sectia~~ ~Q3,
"~'ott~~ ~~~e~o~~t~e~~t Casts" ~nea~~s the total development costs for the Developer
Itnp~io~etne~~ts far each Phase as sl~a~vn an the ~~~dget at~d the devised Budget.
`{~'~~r«rs, e~~~e}' i defit~e~ its ectio~ ~
`~~~a~rs,
fe~~~~r" is e~t~ed its ectia~~ a~, I .
"~er~= .~o~~ .I~rc~~t~e" ar~d~or `~~e~~~ ~o~~ ~~tc~tt~e ~o~rse~ra~r~s" shall ~nea~~ ver~~ la~v
it~cotne households as defit~ed in Plealtl~ Safety Carle Section 5~ 1 D~~
2~~, ~~~'A~~ ~T` THE SITS.
2U1, an~eya~zce of ~~le bite a~~tl ~scz•o~~~; o~~s~~~eratio~i. ~~bject to all of the ter~~s
atld candlt~ans of tll~s Ag1'ee~nent, tl~e Agency shah convey fee title to each Phase of t~~e bite to
the Developer at~d tl~e Develape~~ agrees to accept fee title to each Phase of the ite~ Tl~e pa~~ties
specifically recognize and acl~~~o~vledge that Phase F ~vill close in t~vo or snore portiat~s or
plisses, ~vitl~ tl~e specific portlot~s or phases subject to the ~n~~tual agreetr~e~at of tl~e parties. Tl~e
Canditians Precedet~t to Closing, and all of the other prav~siot~s of tli~s ectlot~ ~1, sball be
applicable to each such portion of Phase FS bei~~g Conveyed. As to the Additional Pa~~cels, and
the egu~~a Parcels, the Agency shall use ca~nrnereially ~~easonable efforts to ac~~~lre same o~~ ar
before September 1 , ~a 1 ~ cif Developer is a~varded a reser~atian of Tax Credits for Phase R~ 1
its the second Tax Credit round of X010, a~~d otherwise forty-fire days prior to subt~~ssio~l
date of a Tax Credit applicatio~~ to TCAC far Phase R~l if Developer does ~~ot receive a
reservation of Tax Credits 1t~ txe secotlCl round of 0 ~ 0, as alI such dates maybe extended by a
CBA cl~allenge~, for the e~~ra Parcels ar~d foa-ty-five days prior to file date of any
s~~b~n~sslan of a Tax. Credit appl~catlQr~ to TCAC ~~~itll respect to floe applicable Phase, ~~bect to
o~~e n~~~~~~~e res~~lti~~g from a CEA Chailer~ge, but in too event shall fire Age~icy b required to
u~~dertal~e o14 complete such ac~~lsltlat~ by use of its po~~rer of e~nlnent dama~~~, Tl~e Purchase
Price far each Phase of tl~e Site shall be O~~e Dollar ~I,OQ}. In impletnet~tation of tl~e
Con~~eyances, tl~e patties shall open escrow ~eacli, a~~ "Bsct+o~v"~ ~vitl~ Old Republic Title
Can~pan~T, ar a~lotl~er esero~v co~npan~~ ~~~~~tually satisfactory to bath parties ~tl~e "Bscro~v
Ae~~t"} ~~~itl~in f
if~een ~ 15} days after tl~e Date of Agree~net~f. In tl~e e~rent that the Segura
Parcels Dave not been ac~ui~•ed by the Agency on ar before epten7ber 15, ~~10 ~ifDevelopelk is
awarded a reservation of Tax Credits for Plisse -1 in tl~e second Tax Credit ~+ouz~d of 20I0, and
otller~vise fo~•ty-eve {~5~ days prior to submission date of a Tax Credit applicatio~~ to TCAC for
Phase R-1 if Developer does not receive a reservation of Tax Credits in tl~e second rou~~d of
I a, as all s~~cl~ dates may be extended by a CBA cl~allenge~, the Developer shall redesign
Phase R-1 so as to excll~de tl~e Segura Parcels its ~vl~ich event Developer's obllgatlol~s ~~itl~
zespect to Phase R~ I shall be extended by tl~e tithe necessar~T for s~~cl~ redesign, If a~~d to the
extent the Additional Parcels at~dloz~ egt~ra Parcels lave been acc~~~ired by the Agency '1t~]In the
i~
~ ococ~ ~ ~oo~~~ ~T ~ ~~oo~~~~~~a l
time frame set far•#l~ herein, the acquired Additianal Parcels andlar Segura Parcels shall beeo~r~e
part of the i#e,
~0~~~ ~as~s of ~sero~~~, The Agency shall p~.y the prerrriurr~ for the Ti#le Polley
~ set far•tl~ in Section 24~ hercaf, t•ecardin fees, if a.ny, a~~d the dacu~nen#ry tr•ar~sfer• taxes, if
any, due with respect to each orrveyarlce ~"Agency Title Pa~ic~+ fasts"~, The De~laper shall
pay far any adtitianal costs ~~ith ~•espect to tr#le ins~zrance for each az~~eyar~ce, rncludir~g tl~c
cost of an ALTA policy, ar~y surveys or ir~spectior~s necessax{y far #l~e issuance of an ALTA
policy or at~y endarscr~er~#s requested by the Develaper• pursuant to Section ~0 no# paid by the
Agency as part of #l~e Agency Title has#s ~`~Develaper Title Policy dos#s"}, All other usual fees
cl~r•es, and costs ~~rl~icl~ arise fi~arn the Escro~~s shall be spit 50~0~
~O1,Z ~sc~~o~~~ Ilistr~rrcfiox~s, Ti~is Agr•een~erit constitr~ts the joint escro~~
~r~struc#rans of tl~e Agency atld Developer, and the ESCI"o~~ A.ge~~# to ~vl~orn these rr~Str'uC#t~I~s ar•e
delivered is hereby etrrpa~ve~•ed #a act under this Agreetn~~t, Tl~e parties hereto agree to da all
sets reasonably necessary #o close this Escra~v i~~ #l~e shortest passible tirne~ ~r~surar~ce palrcres
for ire oz~ cas~~alty are teat to be transferred, a~~d Agency ~~ill cancel its a~v~~ policies, ifany, ~~itll
respect to each Phase after the ~lasing assocra~ed ~~~~th such Phase, All funds received its #l~e
scro~v for a particulate Phase shall be deposited with o#1~er escrow funds i~~ a e~~e~•al escro~~
accaut~t~s~ and tray be transferred to any o#l~er such escra~ trust accal~nt its any S#ate or atianal
at~k ar~tl~ari2ed #o do business and curt•et~tiy doitl b~tsiness itl the State of California. All
disb~trset~ler~ts shall be trade by check fi•arn s~rch accau~~tf
~f in the apir~ian of either party it is t~ecessar•y or can~er~iet~t in order #o
acco~rplish a asit~g, such party tray req~tire tl~a# the pacifies sign s~tpplerrrental escrow
~nstrrlettat~s; pravrded that rf there is any r~~cot~srster~cy bet~~cen #~~is Agreement and tl~e
s~tpplerrrer~#al esera ir~structians, #het~ #l~e provisions of this Agreement shall ca~~#rol, The
parties agree to execute sr~ch a#l~er• at~d firrther• dac~rtrents as r~ray be reasonably txecessar•y,
helpful or apprapria#e to effectuate tl~e pro~isiat~s of #l~is Agreement. Eaci~ losing shall take
place ~~l~en ba#l~ the Agency's ~ar~ditiot~s Pt•ecedent ar~d the De~~elopet~'s anditiarrs Precedent
as set faith in Section ~a~ l~a~e been sa#isfied ~~ith respect to tl~e applicable Phase Escrow
Agent is instructed to release tE~e Agency's ar~d De~elopeti's escrow closing statet~~et~#s to #lre
r•especttve partles,
Z~1, Au~~rori#y of ~scr•o~v Aer~~, kith respect to t~~e losir~ far each Phase,
#l~e EsCro~~~ Agent is authox~i~ed ta, acid shall;
~a} Pay and charge tl~e Agency far the Agency Title fasts, and any
arnau~~t Necessary to place title in tl~e cot~di#iot~ necessary to satisfy ~~#lorl ~a of this
Agreerrrer~#,
~b~ Pay and change tl~e Developer` and Agency each 5~°Io of escro~~
fees, cl~ar•ges, and costs payable unde~• Sec#iotl ~D 1,1 of this Agt•eerr~erl#, excluding docutret~tarY
#rar~sfer taxes,
~c} Pay and charge tlae Developer for• the Dvelapei• Title hosts.
l~
D~CSOC~~ ~4067v131~~0~72-0~0 l
{d} Record tl~e Grant Deed, Reg~rlatary Agreement, Notice of
Affordabilit~t Restrictions, as to tl~e Rel~tal Pol•tiorr of the Project, Agency Deed of Trust for such
Phase, al~d at~y and all atl~er recordable docur~~ents ~~rl~el~ both the De~relopetk's onditians
Precedent and the Agenc~~'s Oonditions P~'ecedent for• s~lch Phase l~a~e bee~a f~rlf~lled, or ~~ai~ed
h~T tl~e Developer or Agency, respectively,
fie} Do such other actions as necessary, i~~c~~~dil~ obtalning the
applicable Title Policy, to fulfill its obllgatlor~s under this Areen~el~t~
ltli ii1 tl~e ~ lscretion of the ~scro~~T Agent, direct tl~e Agency at~d
Developer to execrate and deliver arr~r lllstrurnent, affidavit, al~d statement, a1~Cl to perforlr~ at~y act
reasonably t~ecess~ry to comply ~~~itl~ tl~e provisions of Fr~PT'A and any silila~t state or federal
act ot~ reg~~latiorr pralnulgated tl~ereut~der, Tl~e Ager~cy agrees to execrate a el•tificate of
Nolr->~oreiglr tatr~s by iz~dividz~al transferor andlor a ~ertificatior~ of Oompliance ~~ith Real
estate Reporting Regr~irelnelrt of the ~ ~S~ Tax Refor~rl Act foci each Phase as may he re~r~hed by
tl~e ~cro~v Agent, olr the form tQ be sr~pplied by the ~scro~~~ Agent.
{g} Prepal'e ar~d file ~~ith all apprapl~iate goverlrlr~errtal or taxing
a~ltharities ~ ut~~for~~ settle~rrent statement, closrn state~~ent, tax ltlrlrolding forln includil~g all
IRS ~ 099- form, a~~d be responsible for u~itl~holding taxes, if arr~? Buell farms ale provided for' or
rec~r~i~~ed by la~i~~
X01.4 lasi~ag; ~acl~ Phase shall close ~eacll a "Closing") ~~ritlrllr tl~lrty {a~ days
of ~lre satis~'actial~ of alb of the Agelrc~r's and De~lal~el•'s o~~dltlol]s Pr~ece~e~rt to ~lasi~~g for•
such Phase as set for•tl~ in ectiolr 2~4 liereaf, ~vitl~ xesp~ct to each Phase but ire too event later
than ~a~ the ea~~lie~' to occur of {i} arre hr~l~clred days after Developer recei~s a p~'elll~lnar`Y
resex~vatlon of Tax Credits far Phase R~ l ~~vitl~ De~elaper entltled to apply far Tax Credits folk
fo~~~' consecutive raulr~is}, ar Mai+cl~ 1, X013 ~"Phase -1 Outside losi~~ Date"}, ~b}the earlier
to occur of {i~ one l~~~ndl'ed ~iy days after De~elopel~ deceives a prelilrlinary reser~atiot~ of Tax
Credits for• Phase R-~ {~~ith Developer entitled to apply for Tax Cl+edits far ~'o~~r consecrlti~e
1'Ollt~ds} ol• il~arcll 1, 20 ~4 {"Phase R~2 Outside losilrg Date"}, and ~c} ~an~rary ~ 2a~ talk the
first Olosilig ~~fith ~~espect to Phase ~"Please F Outside ~Iosing Date"} al~d ,
2a~, far the ~l~al closing ~~~itlr respect to Phase ~ ~tl~e "~'inai Phase P Outside losilrg
Date"}, subject to exterlslalls drre to events ~f , o~'ce ~t~c~etr~~e i~urrla~~t to ectian
~pravided, that, era extension of the Please R-~ Outside Closing Date, tl~e Phase R-~ Outside
Olosing Date ol• the Phase Outside Clasirr Date due to ~~y~c ~~rajtr~~e shall be langeli thal~
twelve {l~} trro~ati~s ~~lrless such exterlsian ~+esr~lts f~'atn GSA challenge}, al` ~vrittelr
extensions rz~ade by the De~elal~e~~ and Agelrcy ~xecutl~re Director {tl~ "Outside Clasen Date"~.
~n the everrt a Ceasing fails to occur for• al~y Phase by the applicable O~rtside Closing Date as a
result of the failure to obtain Tax Credits, in spite of De~xelopel''s commercially reasox~able
effal~ts to obtain same, the Developer shall x~ot ~e deerrred to be in Defarrlt render this Agreement,
brit tine Agerrcy may elect to terl~linate this Agreer~rent with respect to such Phase each Closil~
shall occur at a location within Orange Corrnty at a time and place reasonably agreed an by the
parties. The "closing" shall mean tl~e time at~d clay the Grant Deed for' the applicable Phase is
filed foe' record ~~~itll the Ol;a~~ge ot~nty Reorder, The`Closing Date" shall nrear7 the day ate
which each applicable closing occ~~rs. Concurrently ~~ith tl~e Cosilrg for the first portion or
phase of Phase P, Agelrcy and Developer shall et~tel' into a right of entry agree~~ne~~t, in . farm
14
~CS~CI~ ~ ~DG~3~~13i~ ~~~7~-000 ~
reasorra~bly acceptable to the parties, ~vhiclr ~vill include ~nde~r~n~ties arrd irrsurancc pravrsrorrs rtr
favor of Agency and ~~hiclr perrrrits Developer to eater ~zporr the poz•tion ~ Phase F lriclr lras
Trot then beery Conveyed to Develope~~ for the pk~t~pose of r"acl~r~ and ~lte pre~~•atiat~,
~0~,~ ~~os~~~ Proced~ire, Escr~~~ Agent shall close Escz~a~v far each Phase, as
follo~vs~
{a} Record the grant Deed for such Plrase ~vith instructions far the
Recorder of C~•atrge Cokz~rty, Califartria to deliver the rant Deed to the Developer,
~h} Record the Agency Deed of Trust fort Pirase R~ 1 ar Plrase R~~, a
applicable ~bkrt Trot far Phase F since there ~vill be rla Agency Deed of Trust associated ~vith
Phase F~ ~vith instrt~ctiotr for the Recorder of Cz•ange County, ~alifarnia to deliver` the Agency
Deed of Trust to the Agency;
~c} Record the Rego lator•y Areerrrerrt for Phase R- ~ or Phase R-2, as
applicable {bkpt trot foci Pirase since thexic ~~ill be rro Regulatory Agreernerrt associated ~vrth
Phase F~ with iirstructians far` the Recorder of Craire Co~ztrty, California to deliver the
Regulatory Agreement to the Agency;
~d} ~nst~~iict the Title a~rrpa~ry to deliver the applicable Title Policy to
the Developer;
~e~ Deliver the P~•o~nisso~'y date to the Ae~rcy for Phase R-1 or
Phase R~~, as applicable ~hUt Trot far` Plr~se PS siirce there i tra Pioirrissoi•y dote associated with
Phase P~~
l~'ile airy ixrfo~'r~rational reports regkii~•ed by ~nteriral Reveirue bode
ectian a4~e}, as airieirded, and airy other applicable regkiiretnetrts;
fig} Deliver the P~RPTA eitificate far' s~~clr Phase, if airy, to the
Devoope~{; and
~lr~ l~ orrard to both the l~evelope~~ atrci Agency a separate accokrirting
of all fiiirds reserved aird disbrirsed for each party and copies of all e~ckited and recorded ar
filed docun~e~rts deposited into Escra~v, ~vitlr such recording gird filar date and infarmatiair
eirdorsed tlrer•ean
~UZ, ~e~ri~v of Ti~7c, The Developer shall, at its cost acrd e~peirse, secure a s~irvey of
each Phase of the bite. rtlrrn thirty ~~o~ days after tlrc Date of Agreement, the Agency shall
cak~se 41d Republic Title a~~rpatry, or airotlrer title coirrpany mut~iall}~ agreeable to l~otlr parties
~tlre "Title orrrpair~"~, to deli~rer to the Developer standai~d prelii~rinai~~ title report ~tlre
"Report"~ ~vitlr respect to the title to the bite, together ~~rrtlr legible copes of the dacrirrierrts
constituting title e~ceptians the "E~ceptians"~ set forth in the Report. The Developer shall have
the right to approve or disapprove iir its sole discretion ~i~ the Report, ~ii~ the E~ceptiarrs,
viii} airy srirveys delivered to it by Agency ar ordered by Developer, ~iv~ the availability arrd cast
of airy title enclorse~neirts the Developer ar its leaders Wray desire, and ~v~ any otlre~• ~rratters
15
DOCS~CI~ ~00~~34fI3120~~72-~0~~
pertainit~ to title collectively, the "Title Matters"}; pt•ovided, ho~vver, that tl~e Developer
herein appraves the fo~lo~vil~ xceptians;
{a} the ~edevelopt~ent Plan,
{b} tl~e lien afany nondelrt~quent taa~es and assessments {ta be prorated
at close of ~scl~o~v} with respect to each Phase; a~~d
{c) tl~e provisions of the Grant Deed
T~~e Developer shall have o~~ hl~l~dred t~renty ZD~ days frolr~ tl~e Date of
A~~eel~~er~t to give ~vritter~ ~atice to tl~e Agency and ~scro~~r folder of the Developer`'s approval
or disapproval of any Tltle Matters The Developer's failure to gi~re ~vritten disapproval ~vitlrir~
such trrrre lrmrt shall b deer~ed approval of all Title Matters, tl~e Developer' t~oti~es the
Age~~cy of its disapproval of oily Title Matter, tl~e Ael~cy shall lave the right, b~~t not the
abligatio~~, ~vitl~in ten {~D~ busit~ess days after receiving ~~?rittel~ l~otice of the Developer's
disapprava~~ to notify the Developer that It ~vlll cause the satr~e to be cu~•ed at tl~e Agency's sale
cast to the Developer's satisfaction. If the Agency eat~not or• does not tir~~ely so elect by tll~lel~~
delivery of r~atice, the De~reloper shall have tern 0} busit~es days after` the expiratiot~ of such
tern ~~0} b~lsiness day peg"Iacl to el#l~er gi~re tl~e ~ene~ ~vr'lf~~tl ~1D~1~~ tl~~t tl~ ~~~~~07~t• elects to
proceed ~r~itla the p~~rcl~ase of
~l~e ~'~xase affected ther•eb~~ «b~ect to tl~e disap~raved Title
Matter{s~ ar to give tl~e Agency ~vrrtterl natrce that the Developer elects to ter~r~i~~ate tlae rights
atld oblratron of the par#ies under this Areerner~t ~vitl~ respect to s~~ch Phase Tl~e Developer
shall Dave tl~e r{igl~t to approve or disapprove any sulosq~ret~t title exceptiar~s riot caused by tl~e
Developer and ~•el~orted after the Developer has approved the Title Matters in the ma~~r~er set
for•tl~ above, i~~cl~~dil~ Title Matters associated with any Additional Properties, ~f the Developer
disapproves any subsequent title exceptoan, at~d tl~e lr~atter canrrat be salved. to tl~e sat~sfact~ol~ of
tl~e parties, the Developer shall have the right to terlnii~ate tl~e rights and abligatior~s of the
parties cinder this Agreeme~~t ~~itl~ respect to the Phase af~'ected thereby ~xccpt as set fartl~
herein, the Agency shall trot val~rntarily crewte arxy l~e~v exceptions to title fallo~vir~ tl~e Date of
A~•eernent,
203. Title ~tlsurncc, concurrently ~vith recordatioi~ of each Grant Deed conveying
title to tl~e applicable Phase, there shall be issued to the Developer a LTA {at•, at Deveiaper's
~*e~uest, ate A~T~,~ o~~~ner's polic~r of title ins~~r'~nC~ {~c~Ch, c~ ~ali~~"} in the aCr~aut~t a~' the
~rnr•es#ricted fair rrrar•ket val~ie of tl~e portion of tl~e Site beii~g conveyed, as agreed upot~ by tlae
parties prior to Clasirlg, togetl~ei4 ~vith such endarstnents as the Developer arranges 4vlth the
Title ornpany duril~g the title revie~v pez'iad described in ectiot~ ~~2, issued by the
Title ~arnpany ir~s~lring that the title to s~~cl~ Phase is vested i~~ the Developer` ~vrtl~ Flo eceptians
other than thane approved by tl~e Developer pursuant to Section 2~~, Tl~e Title on~pany shall
r•ovide #l~e A e~c ~vitl~ a co f l~ ~ ' ' ~
p g y py o eac sucll Title Palrc~ . Any additional can#s, ii~cludir~ tl~e
cast of are ALTA polio, any surveys or rnspectrons necessary far• the iss~rance of an ABTA
policy, or al~y er~darsements requested by the Developer, shall be ba~•l~e by the Developer,
204, ~arrtli~~orzs of lasing, Tl~e closing far each Phase is carrditio~~ed Ripon the
satisfaction of the follo~vii~g ternns and caridrtro~~s of such Phase ~vrthrn the trines desrg~~ated
belo~v,
D~CSaC114~~~73~t 131~1~~~72-~~~ ~
F
~04~~ Age~rcy's Cnndi#~oris of ~osil~g, ~'he Ael~cy's abliatian to proceed
~~ith the losing for each Phase is subject to the fulfillt~nelit, or ~~aivet" b~ tl~e Ael~cy ~xeclrtive
Director, a~' each and all of tl~e conditions precedent ~a~ tl~rolrgl~ ~i}, lnclusrve, described below
Frith respect to such Phase the "Agency's conditions Pr'ecedet~t"}, ~vl~ich are solely fat{ the
benefit of Agency, and ~vhtclr slrall be fulfilled or waived on or' before tl~e applicable ~uts~de
losing Date" At~y cor~ditian not specifically waived prior to such Claslri shall be deemed
~varved lrpo~l arl~eyance for the Phase associated ~vitl~ such closing:
~a} ~~o Defr~~~~~. Prior to tl~e dose of ~scr"o~v far' such Phase, the
Developer leas not co~r~mitted and failed to cure any defa~~lt ire al~y of its ohllatians under the
tee"r~~s of this Ar'eelrrent ~~ith respect to s~~ch P~~ase a~~d all representatiarrs arr~~ ~varrar~ties of tl~e
Developer contail~ed l~e~'ei~~ shall be tare and cor'r'ect ir7 all n~ater{ial r'espects~
~b~ ~a~~~rer~~ o,
f C'~~s~rr Coss a~rc~ ~~~~~c~~ase ~~•i~, ~'~~e D~elopei"
shall lave deposited. tl~e P~~rclrase Price fog" s~~cl~ Phase and all casts payable by Developez"
s~~c~~ losing into ~scro~v in accordance ~~rrth Section Zoe lr~to Escro~~r.
~c~ .~xec~r~iorr o~ ~~~~~~t~ert~s. ~'he De~elape~i sill have executed and,
as necessary far recardatior~, shall lave lead acknowledged, any daeur~terrt required l~ere~~r~der
~vitl~ r"espect to such Please and shall lave deliver+ed srlcl~ dacurner~ts into Escrow ~it~clt~ding,
~vrtl~out llrrrltat~ot~, the once of~ffor"lability Restrrctrorrs~,
~d } o~~c~~~rra~ 5~~~ ~'~a~~ use ~~~~a~•o~~a~s" Tl~e Developer
shall ~i} have obtained City ~lld Agel~cy Execrrtivo Director approval ofthe ot~ceptual Site Play
and final a~~strrrctror~ Drawings for' all of tl~e Developer ~rnpro~el~~er~ts rll s~rcl~ Phase, iii} Dave
obtained all Laud Use Approvals necessary for• the development of such Phase, as set forth itl
Sectlorr ~~3 hereof, and ~ii~~ take such actions as are necessary to ir~s~~re t~~at buildi~~g pertrtits for
the developlrrent of s~~cl~ Phase shall be issued concurrently ~vrtl~ losing o tl~e portion of the
Site associated ~~~rth s~~cli Phase, or' detrror~strate to Agency's reasarlable satrsfactlotl that bulldln
permits for" tl~e development of such Phase are ready to be issued b~rt for the pay~t~er~t of fees
associated tl~ere~vith, at~d that the funds r~ecessar{y for tl~e paylrre~~t a~ such fees leas been
allocated}reserved al~d cot~rlnrtted rr~ the cot~st~~~lction fit~atlcltl or equrty contr'tbutlal~s ~v~~lcl~ at'e
available upon and after' tl~e date oftl~e losing,
~e~ ~i~srr~•ace~ Tire Developer s~~all have provided proof of ii~sural~ce
as req~iired by Section D~ l~er•eof~vitl~ respect to such Phase,
~ ~'rncr~rci~~, Tl~e Agency shall leave appr'o~~ed the Evidence of
onstr~~ctio~a Fit~a~~cii~g of tl~e De~~eloper Irnpr'over~~ents foci ~~c}~ ~'l~ase as Provided ire
Section ~ ~ ~ ~rereof at~~l the financl~~g consistent with the Evidence of o~~st~auction Financing
far suer Phase shall have ceased and. funded or+ be ready to olose and fiend at the applicable
losit~g~
~g~ er~e~~a~ ~'o~~~~"c~c~~~~ o~~tRac~. Tile Developer shall leave provided
oi" caused to be provided to the Agency Executive Director a cop~r afa valid and binding contract
bet~veer~ the Developer a~~d ot~e or' mare California-licensed gel~e~'al contractors for' the
coi~tructiot~ of tl~e Developed ~mproven~ei~ts associated ~vitl~ s~~cl~ Phase, certified by tl~e
~7
DO C~~11 SID ~~7v 1 ~I2~~2~2-~~~ 1
l
De~elaper to he a true ar~d correct copy tl~ereaf, or shall have p~•o~ided to the Agency E~ec~~tive
Directa~~ a caps of tl~e cox~structian. budget far• such Phase rf tl~e DeveloperF elects to act as the
general contractor•la~rrer-builder.
t~a~~a~~~, The De~elaper4 shall abtait~ at~d pt•o~ide for the benefit
of the Ager~c~ a separate guara~~#~ far each Phase the ~`Cuaranty"} in ~ farr~ reasonably
acceptable to tl~e Aet~cy l~~ec~~ti~e Director, p~~rsttar~t to ~~l~ich The belated ~ornpanies, L,P,, a
New ~or•k litited par•tnersl~ip, guararrtar' of Phase -1 and Phase R-~ ~"Phase R-1 and
Phase guar;antar}'~, and it~T ~etitu~'~~, Lt~~ ~ guara~~to~~ of Plrase ~ ar s~zch atl~er{ errtity as
rr~a~ be appa•o~red b~ tl~e Agency l~ecuti~e Director, acting in her' sale and absal~~te drscretiar~
~"Phase Guarantar•"} ~callecti~el~, the "uarantar~s}"}, shall ua~~at~t~ carr~pletion of tlae
canstructiot~ of each applicable ~'l~ase a~• ~'hases ~~bstantially ~~itl~it~ tl~e tir~re limits set Earth
l~erei~~ and in tl~e cl~edule of Perfarrrrar~ce, st~bstat~tially ire accardarice mirth tl~e scope of
De~relaprnent, as the same rna~ be tnodrfied frar~r time to time in accorda~~ce ~~ith the ter~r~ of
this Agreeme~~t, ~3~ free and clear of and n~ecl~a~~tcs lie~~s, tnate~~~alr~~e~~'s iiens and equitable
liens, ar~d all costs of cot~struetion shall be paid prior to del~nq~~errcy~ its addrtrar~, the
C~~aranty ~~ill provide far• tl~e v~ai~er b~~ Cuar`at~tar• of r~~r arld all ri~llts, ~~ai~er~s and defenses
~rl~icl~ may atller~~ise be available under s#ate ar federal la~~~ to present tl~e ~et~cy'
er~far•cer~~er~t of tl~e guarantor's obligations under tl~e Cuaranty~
~i} ~er~is~r~ ~r~c~~e~~ Tl~e De~eloper4 leas prepared and the Agenc~F has
approved tl~e »e~ised budget far the applicable Phase,
~~4,~ ~e~~elo~~er's oll[~l#IOIIS of closing. Tl~e De~elopei•'s abligatiot~ to
p~•aceed ~~ith the closing of each Pl~asc is subject to tl~e f~~lfi~l~nei~t oi' ~~vai~er• b~ the De~elaper
of each and all of the conditions p~•eceder~t ~a~ tl~ro~~gl~ rnct~~si~e, described belo~~ the
"De~~elaper's anditlot~s Pr•eceder~#"~, ~~rhich are solely far the benefit of tl~e Developer, a~~d
Mich shall be fi~lfilled or ~~ai~ed an ar before the applicable outside lasing Date, A~~y
canditiar~ not specifically ~~ai~ed prior to lostt~g shall be dee~~ed ~~ai~red ~zpar~ an~reya~~ce far
the Phase associated ~itl~ such Closing:
~a} o ~er~t~~~~ Prior to the close of Escro~v for such Phase, tl~e
Agency leas rlat cor~rr~ritted acid failed. to cure ai~~~ defaults its at~~ of its obligations ~xnde~~ tlae
terms of this Agr`eet~et~t ~~lth respect to s~~cl~ Phase at~d ail r•eprese~~tatiai~ and ~~ar4rai~ties of the
Agency cotltai~~ed herein shall be true and correct i~~ all material respects,
~b~ ~~~•e~~~r~~ of Dorr~~~~~~s, ~'~~e Agency shall have executed, and as
necessar'~ fart recordatiar~, shall have had acl~na~~ledged, the applicable Grant Deed ar~d ar~y
other docut~ents required hereunder ~~itl~ a•espect to such Phase, aild shall lrave delivered s~~eir
doc~~inei~ts rt~to der;a~~,
~c} ~'~~~arrre~~~ o ~os~i~ Cos~s~ Prio~• to the Close of l~scro~~ for such
Pbas, Agency shall ha~re paid all required casts of such losing lnta Esci•o~~ iii accordance ~~itl~
ectiai~ 20 i .
~d} .Re~~ie~~~ c~~rd .~~~~~•o~~a~ o~`Ti~~e~ Develapei• shall have re~ie~~ed and
app~•o~ed the Candit~on of Title of s~~ch Phase, as pro~rrded iii ectron
~~CSQCI14~067~~~131Z~~~72-~~~ 1
~'r'~a~c~~~~ De~elaper shall l~a~e abtairled, and tl~e Agency shall
l~a~e approved ~~idence of anstructio~7 Pir~ancing fol~ such Phase conslstel~t ~~~lth the approved
B~ldel~ce of onstructlon Flnancing of the 1~evelaper Impro~errlents for st~ch Pl~asc as pra~ided
in Section 1 arld tl~e financing far strcl~ Phase shall l~a~e closed and f
~~nde~ or~ be r;ead~ to
close a~~d ful~d cancul•rel~t with the applicable closing,
~ ~'r~~ ~'o~rc~~~ Tl~e Title ~n~pal~y shall, lrpal~ pa~lnel~t of Title
al~apan~~'s regularly scheduled prerniulrr, have agreed. to fssue tl~e Title Policy far; each Phase
upon each closing, in accordal~ce ~~ith Section 2a~
~~~~~~~~o~~t~~ert~~~, Tl~e De~elopc~i shall have approved tl~e
~nvironl~el~tal onditiol~ cftl~e pol`#iola ~fthe Site il~cluded ill the applicable Phase and slxall la0t
ha~~e elected to cancel ~sclo al~d terminate this Al'eernel~t pur`strant to Section 2a~~ l~e~`eaf
al~d tine Rel~~~dial fork cif required pursuant to that Sectiel~~ shall lime heels completed as
pl`o~lded 17e1•ell~,
~h~ C'o~~c~p~r~a~ Sr~~ P~a~a ~r~~~ ~r~~ use ~~~~o~?ads, The Developer
shall l~a~e abtalrYed lty and Agency ~~ecutive Dir+ecto~• apprio~al of oncepttral Site Plan al~d
filial ol~structiol~ Dra~~il~gs fa~• all of the I)e~elaper Ir~pro~emel~ts ire st~cl~ Phase, ~11~ l~a~e
obtailred all ~al~d use Appl•ovals necessary for tl~e develapl~lel~t of st~cl~ Pl~ase~ il~cluclil~,
~~ltllout lll~lltatlal~, ul~dlvlslon dap Act cornplla~~ce, any accessary zone change a~id~or approval
of any 1'equlred dellsl~y bantls, c~nd ~111~ take sUCh actions a al'e llecessal'y to Insure that bulldll~g
per'l~its fall tine deveioplr~eat of such Phase shall he issued eonct~r•rel~tly ~~itl~ tl~e oi~~eyance of
tl~e portiol~ of the Site associated ~vitl~ such Phase,
~i~ Sons a~~c~ Ce~~oic~r~ C`o~c~i~~o~t, ]~e~elapel` shall nave approved
the Site ~ol~drtlan ~~lth respect to such Phase in aeco~•dance ~~itll ecttan ~a~. ~ hereof,
~1 ~ e~o~c~~ior~, The Aer~c~f sl~ali nave relocated all tel~alits al~d other
ll~l~abltal~ts oftlre portlo~~ ofti~e lte ol~ ~vhlcl~ slrch Phase is or ~~ill be located in accoldance ~~ith
all existil~g federal, state and local ia~vsi
~k} Side I~~~p~~o~~e~~re~~~s. Tl~e por-tiol~ of the Site on ~~rhich such Phase is
or~ ~~rill be located shall be free of all bite ~mpravelnel~ts~
{l} ~'~~~r~+o~~~~~~~~a~ Co~rdr~~~~~. The partlan of the Slte ol~ ~~rl~lcl~ st~cl~
Phase is ar ~~~ill be located shall be free of all ~Iazatdol~s N~aterials, including, ~litl~out lin~itatiol~,
asbestos al~d leadwbased pant, all ill accordance with eetiol~ ~0~.7 below, and the De~elaper
shall l~a~e received and a~pp~•a~ed the Abater~el~t Repast descl`ibed il~ Sectiol~ 2a6~? belo~~.
~rn~ ~o~~c~~~~o~t o'5~~~, The Agel~c~ shall be ur~cal~ditiol~ally calnrnitted
to deliver {i} fee title to the pcrtiar~ of Site alp ~~~hicl~ such Phase is o~~ ~~ill be located in
accordance with the regt~lrelnel~ts of tl~e Seap of I~e~elopment, and ~11~ possesslol~ of st~ch
partlol~ of tl~e Slte are ~vhlcl~ such Phase rs ar• ~'~111 be located sr~bject to na r4lgl~ts of terlal~ts rrl
i
possession,
~rl} ~~trised ~trc~e~. Thy I~c~elaper has prepared and the Agency leas
appro~cd the Revised Budget for the applicable Phase.
19 ~
~45~ .epr•e~ezl~atiarrs acid 'rr"unties.
Z~S,~ Agell~y Rep~'esezl#atiotrs, The Agency represetrts acrd arrants to tha
Developer as folla~vs:
~r~~ho~~r~~~, The Aerrcy is a public body, carpor;ate end politic,
exl~ting pl~r'suant to tl~e alifox~tria otnrnunity I~ede~elopn~ent La~~ {aliforrria Healtl~ and
Safety bode Sectio~r 33~DO~, ~vlriclr has been a~ztirori~ed to tra~rsact busit~ess p~t~•s~tant to action of
the pity, The Agency has full right, po~~er acrd la~~fi~l authority to gt~ant and corr~ey the Site as
provided l~erein a~~d the executiorr~ perfarrna~~ce and deli~er*y of tlrrs Areet~tent by the Agerrcy
leas been fitlZy a~~tlrori~ed by all regr~isite actiotrs otr the part oftlre Agency,
fib) The Agency is trot a "fareigrr person" ~~rttir~n the
parameters of F~RPTA or~ atry sirnilar state statute, ot• is exempt frorn the provisions of ~'iI~PTA
or at~y sltrr111F state statr~te, ar tl~e Agetrcy lras carnplied and ~~1 cotrrply 4~rth all the
req~tirernetrts under FI~PTA or any s~t~ilat{ state stat~rte,
~c} ~4~o `o~
f
~r~~. To tl~ best of` tl~e Ager~c~r~s k~~o4~ledge, floe ~getrc~~'s
execution, del~ver~r and perfarrnance of its ohligat~o~rs ~ttrder this Agree~nent ~~rill not constitute a
defa~tlt or a breach under any cotrtract, agretnetrt or order" to ~vl~~ch tl~e Agency is ~ party ot• by
~~hiclr it is bound.
{d~ ~~i~es of ~{io~~~io~~, Tl7e ~ger~cy lras rro kno~v~edge of, ~rar his
Agency received any ~rotice of or~ k~ra~v of any basis far, arry ~ialatiotrs of la~vs, statutes,
regulations, ordinances} atl~etk lead re~~riretnetrts ~vrtl~ respect to the Site for airy part tlrer"eo-f~ or
~vitlr respect to the uses occrtpatrcy or corrstructior~ thet~eaf, or airy rrrvestlgat~at~s by atr~~
go~er~r~nental or quasi~go~ret"nmerrtal authority into potential violatio~rs thereof ati airy
conderrrnation ot" enrinerrt dornarrr proceedings petrditrg or tlrreaterred ~vith respect to the Site ar
any portion thereof, qtr the event the Aget~cy recer~res rratlce of any s~tclr ~lolat~ans or
ttr~rest~at~o~rs affecting the app~tcab~e Plrase prior to the closing of s~tclr Plrase, the Agetacy
prornptly shall rratify the ~]eveloper tlrereof,
~e~ ~e~~ses cr~~ Co~a~~~a~~~~ except as and to the extent disclosed to the
Developer, itr ~~rititrg, there arse era leases or otl~er contracts to which the Agetrcy is a party ~vlriclr
~~o~tld affect the property cotr~pt4zsltrg the appllcahle Phase eotnparisorr Site,
~e~r'~rer~~~ of ~~~~r'a~~ anr~ Docr~~~~er~~s. Tire Agency's staff has
delivet~ed all relevant rnaterials and docrttnet~ts itr its possessia~~ at~d petitaln~n to the Srte to the
De~elaper;,
~trtii tyre tosi~~g, the Agency si~ail, ~~po~r leat~nin of any fact or co~rdition which
~vou~d ca~~se airy of fire ~varra~~ties acrd ~•epresentatio~~s in this Section ~D5.1 Trot to be true as of
~iosing, i~n~nediateiy give ~vx~itte~~ ~latrce of sl~ch fact or condition to tiro ~e~relopex~. Such
exceptions} to a represe~rtatiotr sirail x~ot be deemed a breach by the Agency trer~eunder, utries s~~ch
repres~~rtatioir vas false ~~irexa t~~ade, but slraii constitute a natter ~vhrch the De~relo~rer sirali 1~a~ve a
right to reaso~~ably approve ar disapprove. ~f tl~e Developer elects to close ~scro~v fallowing
disclosure of si~clr ita~ox•mation~ the Agency's represezrtations and ~varrairties contai~red herein shali be
deemed to lrave bcexa ~nade as of the ~losirr, st~~ject to such disclosed trratter~s}. lf, foilo~vitrg the
2a
1~0~D~1~ ~00~?3v~ 3I~~027~-00~ 1
disclosu~~e of suli ~natterx the ~e~eoper effects to not close sc~'o~~~~ tliexi tris Agreetrretit and the
Esero~~ shall allton~atlCall~' tern~ir~ate and rleitl~et' party lrall }]ave any ~i~r~ther riglrts, ob~igatioris or
l~abfl~tles hereirt~der. Tl~e ~~epresentatior~s and ~~a~~raraties set forth iii this ect~on ~05.~ s~lall srzrvive
the Clasi~ig,
~0~,2 Deg?c~apei;'~ Repr~eserttatia~rs, The Deve}apes repx~eset~ts at~d ~~arr~a~~ts to
the Agency as fallo~~s;
~a~ ~4~~~ho~~rt~~, Tlie developer is a d~~ly o~~g~~ized Califax~nia lin~itcd
liability company acid is arrtliorrzed to da b~~srtiess and rs lti good standt~i~ ~1~ider the laws oft}~e
State off` Califarriiaa The copies aft}~e dacr~naex~t evider~cir~ tl~e arkanizatiorl of the I]evelaper
~vlircli lia~~e beers delrvered to the Ageticy a~'e t~'~ze acid ca~r~plete copies of the originals,
arrrended to the Date of Agreement. Tl~e l~evelaper has f~xll right, pa~~er grid la~~rf
ul a~~tlrori~y to
accept tl~e Can~cyance of tl~c Site and utidertal~e all abligatioris as provrde~ Herein and the
cxecr~tio~~~ pez•fa~~~r~a~ce at~d delivery of this Agrce~nent by the Developer' has heed fully
authorized b~; all r'equlsrte actlaris on the part of the Developer,
~b~ ~~~e~~~tertce, The Developer for its riitiagiiig t11~Iiib~r~ is a~i
experienced develape~~ a~ ~~eside~~tial pra~ects similar i~~ sizes scope, and ualit~~ to the De~Feloper'
~~I~p~'oVe~~lents to ~{Jl~tl'~4AIt~~ ~~~F•~L~~4~t to t~~ 1 71~+~~~~~~~~.
~c~ o Co~`~c~, Ta the best of the Developer+' knowledge, tl~e
I)e~relaper~s execution, delivery acid per4fartilarice of its obliatiori wider this Agreenierit gill
not ca~istit~rte a defau}t o~~ a brcacli wider a~ly cont~iact, areerilerit or' order to 4~~liicli the
Deveiaper is a party or by ~vilich it is bo~znd,
~ ~er~e~n~e~~ ~cr~~~~~~c}~, I~e~elaperi is riot t}le s~~bject of a
baril~r~uptcy pr'aceedir~g.
{e} ~~tt~~~rc~~tc~ x~~i~~~ .~arr~s, The De~elaper ~varr'arits and represents
ti~at it will carry o~~t the developtr~erit of tl~e Site in canfor~r~ sty with all o~ernn~cnta l
Re~uiremerits, i~YCluding, ~vltlla~~t lrrilrtatlori, all applicable state acid federal labar~ sta~idards a~~d
regrlir'ements, tl~e City zoning and developrilent standards, burldrrig, plurnbirig, rneclianical and
elect~~ical codes, acid all otl~er~ provisio~~s of tl~e Cit~~'s ll~iu~~icrpal Cade, and all applicable
disabled acid lia~idicapped access requireti~etits~ inc}tiding ~~ithar~t lin~itatiot~ tl~e An~ericat~s kith
I)rsabrl~tres Act, 42 U,,. Sectiori l~~a~, e~ ~~e~,, Coverriinetit Code ectiori ~~a, serf.,
a~ert~t~e~it Cade ectior~ 1115, ser~~, and the Urirr~li Civil I~ilits Act, Civil Code
ectiari 1, e~ s~~.
Ilritil the Clasiri, the Developer shall, upori lear'riing of atiy fact or condition
~~lircli ~vauld cairsc any of the ~~arr~anties acid r'epreseritatroris rri tlirs Sectrori ~a,2 riot to be tr~~e
as of Closing, iri~rnediately give ~~vr'itteti riotice of s~rch fact or cot~ditiat~ to tl~e Agency. Such
exceptiot~~s~ to a represcntatia~i sl~all not be deeriled a breach by the Developer' liere~~rider, but
shall constitute ari exceptloti ~vhrch the Agency shall have a rigl~t to approve ar disappro~o if
s~~cli exceptrori ~vo~rld Have an effect on the val~~e aiidfar• apes;atio~i a~ the Sate ~f tine Agetlcy
elects to close ~scro~~ following disclosure of such irifarri~atiari, the Developer's r'epreseritatioris
and ~varra~nties ca~~tai~~ed herein sl~all be deemed to leave been r~lade as of the Ceasing, subject to
s~~cli ea~ception~s~, If, following the disclas~u~e of s~~ch infortatia~~, the Agency elects to not
~OCOCI~~OOb734~ 13~~00272-000 ~
close Escro~v, then this Agreement a~~d the Esc~'a~ shall aut~~~atieall~ te~•r~inate at~d neitl~e~~
pa~'t~ shall lave and fi~rther rights, obligations or liahtlities l~e~'eunde~i~ Tl~e ~`epa'esentat~ons and
~~at~~~ant~es set fo~~tll ~n this Sectio~~ shall s~~r~i~e the lasi~~g,
~~G. o~~dl#ion of #~te i#e.
20G,1 I~~~rc~iga#ion of Site. Prior to the exec~~tlan of this Areet~e~~t, Agency
has caused a "Phase 1 investigation of the Envi~+o~~rnental on~itian of tl~e Site ~~l~icl~ vas
ui~dei~tal~en b o~~ve~•se a~~sultar~ts, identified of
~oN~EIZE PR~JET N~. ~
61 14,22, AND G2b-2S EAST SANTA ANA ~~[~LE'VARD
D4, GI4-~ I S, ~2~ AND N~RTI~ I~~.~Y STREET
~O1-~03, X13, and X17 EAST TIC STREET
7~9 AND 71 I EAST ~T~. STREET
~9 AND ~t I NDI~TI~ MINTED STREET Block I~
SANTA ANA, CALIFORNIA
~ll~ ODN~ERSE I'R~JECT N~~ l ~M42~1 S-Q2
~-~7, ~9, GII NORTI~ LAOEY STREET
S~ ~ 81~'N STREET ~laek 2~
SANTA ANA, OALIF~RNIA
viii} OONVERE ~I~O~EOT NO. ~ ~-42-~ I S-~~
OI, a5, AND 5I 1 EAST STIR STREET
5a 1 % - 5~7 MORTINIE STREET Black A~
SANTA ANAL CALIFORNIA
~iv~ caN~E~E ~RO~ECT N~. i o-~~- ~
1 ~~612, ~ 16, AND EAST STIR STREET Block B}
SANTA ANA, OALIFORNIA
OON~ERSE PROJEOT No. ~ 0~42~ ~ ~ Sw ~ o
712 EAST STIR STREET Block
SANTA ANA, ALI1~'~RNIA
~"Agency E~~virant~~ental Site Assess~i~ent"}, ~vitl~ tl~ cost of s~~c~~ in~estiatiot~ being borne b~
tl~e Agency. Age~~c~ represents and ~va~'~•ants that Developer leas been provided a copy of all
~+epoz~ts a~~d test res~~lts produced i~~ cot~~~ection with the envir~~~r~et~tal i~~vestiatior~ of tl~e Site
b~ Agenc~~ I' Developer desires, Developer shall also cause a "Phase 1" ar~dlor "I'l~ase
Inv~stlatlat~ of tl~e E~nv~~`onn~ental ond~tlol~ of the Site to be u~rdertaken
"DevelOpe~' E~~~~~'ontr~et~tal Slte Asses~~le~lt"~, 1~rl~h tl~e cast 0~ sucl~ lilvest~atlan~s~ to l~o~'t~e
b~ the Developer, Developer covenants #l~at Ae~ac~ ~~as been ar ~~ill be provided ~vitl~ all
reports and test results produced to con~lect~ox~ v~lth tl~e en~~~;a~lme~ltal l~~~es#lgat~a~~ of Mlle Slte
b~ Developer, Aget~c~ at~d the Developer hereby represent and ~varra~~lt to the other, except as
set forth i~~ the Agency E~~virontnental Sits Assessn~ettt at~d tl~e Develope~~ Site Assessment, that
they have no Actual I~no~~lede, and have trot ~'ecelved a~ly notice ar carnmu~~ic.tio~l from and
~2
DO~~OC1~ X006?3~~~ 31~~~~~2-~~~ 1
overt~tnet~tal aet~ey having r~rrsdictian aver the Site, notifying such par't~ of, the presence of
sup°~ace or subsut~face gone Ha~a~+dol~s N~aterials in, on, ar lender the Site, or arry portiatz thereof,
The Developer` shall reasonably appr`o~re or disapprove of the Etr~riratr~nental
onditialr and the Soils artd cologica~l ~ot~dition of tl~e Site ~tl~e "Site condition"} i~~ its sale
discretiotr ~vithin the tine set for•tlr in the Sclred~tle of Perfor'matace, Tl~e Deveioper's approval of
tl~e Site o~~dition shall be ~ Developer's or~dition Precedent to the ~lasi~rg. except as set forth
in the next sentence of this parag~+aplr, if the Developer disapproves the ~nvit`onn~et~tal or~ciitiot~
of tl~e entire Site, tl~en either party rrray terminate this Agreement by ~~rrtterr ~ratice to the other,
~f tlxe Developer disapproves tl~e nvirot~tnental Cat~dition of a partlo~r of Plrase PS, then the
Developer rr~y terminate this Agreement ~s to such disapproved por•tiorr only ~y ~~rittetr native
to t~~e Agetrcy, at~d approve tl~e ~~et~aitait~g poi*tion of Please FS. Pursrrat~t to Section ~0~,3, the
Agene~~ may nullify s~tclr e~ectton ot~ the ter~r~s at~d cot~ditions set for~tl~ tl~et~ein. Nat~vitl~statldin
the fareairrg, tine termination of this Agreernetrt p~trsuant to tl~is Sectiot~ ~~~,1 ~vill trot result in
the terminatiot~ of the Agreement with respect to a~ly other portion of the Site alr`edy conveyed
to tl~e Developer
#uc~ies a~rci Repar•~s, Pr'ior` to eac~~ lasitrg, teptieset~tatives of tine
Developer shall have the r'iglrt of access to all portions of the Slte for the pltrpose of obtaitrit~
data at~d tnakit~ surveys arrd tests Necessary to carry out this Agreement, irrcludirrg the
investigation of t~~e Site onditiot~ foci each Phase a~~d strr~cturallcivil engineering ~~ark, Any
pr`eli~rrinary ~ar`k urrdertakerr on the Site by Developer` prior to eaci~ CZasit~g shaii be done at tine
sole expense of the Developer, acrd arrly after the Developer exec~ttes ~ r;iglrt of etrtry agreement
afar any po~~tioN of tl~e Site that leas not yet been sl~bect to a losirr~ in a faun reasonably
acceptable to the Agency ~xeCUtive Director Any pr`ell~~lnary ~vork shall be l~Ndertken only
after secur{i~rg any necessary permits frorn fire appropriate gove~+t~tnentai agencies
~U~,3 Rerrlecfia#ian Af#er ~e~~e~oper ~lee~s '~o Ter{rn~rla#c, upon ~•ecelpt of
De~teloper's Notice to terminate based upoN file Enviro~rr~re~~tal o~rditiar7 of the Site, Agency
Nay, at Agency's optioN, agree to cause tl~e remediatiar~ of tl~e Site in accarda~~ce ~vith the
recanlrrlerrdatrans of Developer's ~nvirorrrnental otrs~tlta~rt, Develapet•'s ~nvirat~tnet~tal Site
Assessment and all ovcr'ntrrental Re~uire~nerrt ~"Aerrey's ~lectiorr to Rerrrediate"~, provided,
Agency l~er'eby agrees to tl~ake A.er~cy's ~lectiat~ to Renrediate in tl~e event that Agency
reasotrably estimates ti~at the east to cat~d~~ct the Remedial fork for ail of tl~e Phases of tl~e Site
~vill not exceed T~va f-f~ttrdred ~`ifty Thousatrd Dollars ~$~~a,a~~,~~} ~"Retr~edial ot~k
Experrditare dap"), fn estinratirrg Elie fatal cast of Re~rredial ork far all of the Phases of the
Site, Agency tray snake t`easot~abie assrrtptions ~+egarding the pra~ected cost of Remedial fork
for' those Phases of fire Site ~vlrrch It has not yet ot~veyed to tl~e Developer, Agency may
reserve a reasa~lable partiarr of the Remedial or*k Expe~rditttt`e dap as necessary to frond tl~e
cast for potential Remedial fork far tl7ose atl~er Phases, Agerrey shall give notice to Developer'
at~d Esero~~r Agent of srtcl~ election and De~~elop~4's notice to terminate shall be ineffective;
pr`avided, l~a~vever, that Developer has approved of the scope of the Remedial a~`k and the
RAP prior to the cam~nencement ofsuclr work.
ff Age~rcy rnakes Agency's election to Rernediate, then ~vit~hitr a tieasanabl
perlad aftel` grvrrlg natrce to Developer' that It rrltend to pr;aceed ~vltlr r`etnedlatlotr of the Slte,
Agency shall deliver to Developer fa~~ Developer's approval a proposed remedral actrarr plan
D~ CS~iu11 ~0~67~f l ~12~~2~2-~0~ ~
~"Al'"} pr'epar'ed by Agency's l~t~vit'ot~tr~ental Cot~srrltal~t ~"Agency's Et~~~ironl~~et~tal
or~sulta.I~t"~, ~vlriclr I~AP shall be approved by the public agency asser•t~~lg ~utRisdictian Duel' t~~e
I'en~edial ~vor4k to be pet~forlr~ed pursual~# to the RAP the "Relrredial ark"~. The Ren~edial
orl~ shall ass~tre tl~e suitability ~f tl~e bite for' the developrner~t, occupancy at~d operation of the
Project and shali be perfor+Ined its accordance ~vith applicable over'nrner~tal Regrrir'ernents and
~nvir'onrner~tal La~vs, and s~~all be col~d~tcted its accordance ~vitll the requirements of Health and
Safety fade Section ~~9, seq., in a manner' ~vhrch rs Intended to a~~~allf}l ~'or the irnln~rnit~
~vhl~ll 15 pt'ovided by Health at~d Safety bode ectiot~ 33459.x.
Capon I]'Ial~lllg Agellc~'s P1leetiol~ to Relnediate a~ld z~eceiving De~etoper+s~
approval of the RAP at~d tl~e scope of the Ret~edial ar'ls, Agency shall cause the Relnedtal
oI'k to be performed al~d completed colrtilruously al~d diligently, Agel~cy's co~nplia~~ee v~rith
tl~e pI'o~'ISlons of
t1lrS eCtl~r~, and the rsS~larlCe ~ a leitel', eer•tl~cte oI' oti~er' official ~vr'ltlrr by
X11 avernl~Ier~tal agencies ~vhlch have asses"~e~ ~uI'rsletlar~ o~el' the r'en~e~latrar~ a~ tine rte,
~vl~ich provides that rxo fut~ther• ir~vestigtion, n~onttoring, t~etnediatiot~, respotlo ar t'etnoval is
c~tr'rer~tly necessary car~sidel'il~g the developrner~t, acc~tpar~cy and oper"atiora of the Pr"o
jest ~"o
liurther Aetiarl Level'„}, and canfirrllatian of the carn~letiat~ of the Remedial park by
Developer's Envit'alrlrlental ~ot~srrltant, snail each be a Developer"s anditian Precedent to tl~e
losing fog' tl~e applicable Phase at~d the ~~ztside loir~g Dato for sr~ch Prase shall be extended
~zt~til s~tch col~ditiot~s are satisfied C~pol~ col~~pletiar~ of tl~e Remedial orl~, Agency shall
deliver' to Developer a certl~cate executed by the Agency's Elrvlr'onlnel~tal arrsultant filar tl~e
Rerr~edial fork leas been calr~pleted to accal'dance with all applicable laws,
l~orivrti1staradrl~g tl~e foregait~, if De~teloper~, based upon Developer's
P~nvil'onl~~ental Site Assessn~ent, Agency?' l~nvil'onnaental Site Assessn~ent ar~d tlxe RAI',
reasonably esttrnates that the Relnedlal dark cnnat be completed ~vrthln ten ~I~~ ~~eeks, they
Developer may terlnll~ate the Escrow acid this AgI'eement by ~vI'itterr notice to Agency; pI'avided,
that s~tcl~ tert~titaation shall not apply to at~y Phase that leas closed prior to the date of such
tot"tninatiol~, ~acl~ date for perfol'Inance ~tl~del• this Agr'eetrtent and the chedr~le of Per~for"rnance
shall be extended an a da~~-far-day basis far each day of delay as a result of tl~e Relrledial fork,
As an alternative to Agency carlsin file peI'farrrlance of fire Relnedll fork
p~~t's~tant to this Sectiar~, Developer' may, at its sole ar~d absol~tte discr'etiot~, propose
~~`De~reloper's Rel~~ediatiol~ Proposal"} that Developer perfot'rll, or lave peI'fo~+naed, tl~e Rex~Iedial
dark by ~vrittel~ notice to Agel~c~T acca~npnied by an estimate of fire cast of perfarlning fire
Remedial far"l~ ~"I~e~elaper's Ret~~edial ark Plstlinate"~. Ili file event that Developer's
Remedial fork l~stilnate is toss than tl~e Relnedlal oI'k Expenditul'e dap, Ager~cy slaall elect to
either' ~i~ accept Developer's Relr~ediatian Proposal, III ~vl~rlr event Developer shall perforlr~ tl~e
Relrledlal dark iIr accor'dnce ~vrth this Section and Agency shall reimburse Developer' ir7 aIr
an7or~nt riot to exceed Developer's Remedial or'l~ Estirrtate ~~ithin thit'ty days follo~vitlg
t'ecelpt b~ Agency of written request therefor' by Developer, together ~vit~~ copies invoices
andlar' other such evidelrce as reasal~ably I~ecessary to substalrtiate such casts and expenses, ar'
iii r4eject Developer's Ren~ediation Proposal, in ~vhicll event Agency shall perl`orl~ the Rel~ledial
or'k irr accordance with this Sectiarl, In the event that Developer's Rert~edial 'oI"k ~stllnate is
greater than the Remedial fork Expenditut"e dap, Agency tnay elect to terl~it~ate the Escrow
at~d this Agt'eernent, provided such tertninatiot~ snail b it~effeetive if Developer then elects to
2~
D~C~~II ~~~~?3~=t 312~~272~~~~1
perforl~~ the remedial or'1c in accordalYCe itl~ this Section and bea~~ any costs and expenses iri
excess of the Remedial fork xpenditu~`e papa
~~~i,~ No 'ar•ra~rtics As To Site; Reieasc of A~e~YCy. except as oti~er~ise
e~pl`essly provided lier'eiri, the Site ~ond~t~on upo~~ delivery fl'orn the Aeric~ to Developer' sl~all
be "as-is," ~vit~~ no ~~arranty expz`essed or implied by Agericy, rricludrng ~~ltl~out l~m~tatlon$
px`esence of ~azal'dou Materials ar the cal~dition of tl~e soil, its geology, the preserice of krra~~
or ~~nkriou~ri selst~lc faults, ~1' the sr~itability of the Site far' file develapnierit purposes il~tet~dd
1~e1'er~ndezi,
>~r'orii alyd after tl~e date on ~~i~icl~ Developer` eatnpletes grading itli respect to
ally Please of tl~e Site as evidenced ley certifica~ian by file ~t~'s ~uidin official, acid to file
extent that DeveloperR does rift object rn ~~r'ltln to the ~nvl~`on~r~elltal olldltl~ll of such Please
~1~ltlilri teri days falla~ving cotr~pletioli of sl1C1 gradilig, the Developer shall ~~~ai~e, release
and discharge fare~er tl~e ~e~xcy slid file pity, slid their' respective elrrpla~ees, of~ce~`s~ age~its
and repz`ese~~tatives, fi'oln all present acid fixture claims, de~rrands, suits, legal acid adrrilrilstrative
ploceedilis slid fl'oln all llabrlrty far damages, losses, costs, liabilities, fees and expenses,
present and future ~"~lait~~ oak Liability"~, arising out of ar iii ally ~vay connected ~vitl~ the Site
oriditian as it relates to Buell Phase, except ~i} ar`ising out of tl~e ~villfi~l rniscond~zct of the
Aetacy or its employees, officers, aer~ts ar~ representatives; o~' ~ii~ if slid to file extent the
Developer` earl delrionstl'ate to a caur't of cot~lptent ~rt~~~sd~ctlol~ that file ~gelicy alidlor arty 4vere
the direct and prax~rnate calrse of tl~e Site ~lidltlori ~vhrcli rs file subject ~~atter of the lait~l o~~
Liability, including, 4~itl~out lina~tatiari, attorneys' fees; or viii} foci Agency's obligations under
section [~pori the effectiveness of the release co~~te~plated by tells Section, file parties
ackno~~ledge that the Agency's a~vner'sliip ~~orrld ll~t he t~~e direct andlor pr'axiniate cause of ally
Sete oridltlari rf such Site ond~tton vas Sri exlsterice at file tlril~ of file Agel~cy' ac~irisition
slid continued during tl~e Agency's o~vrier`sliip, ~n file event that >~e~elaper objects to tl~e
~nvironmexatal ~o~idr#loli as described above, Developer may elect fat the tir~re it objects to the
~nviron~nental onditiori~ to accept arch Errvirolllr~ental a~~dition, in ~~hich event file Agency
shall reimburse Developer for its actr~ally iric~~rr'ed costs of ariy Remedial orl~ ut~de~'taket~ by
De~reloper to rernediate tl~c disapp~`oved l~nvirorilnerital oriditiari; pra~ided, l~o~vever, that tl~e
maximut~ an~o~~~~t of such reirnbursement shall be egiral to the pox`tio~~ of the Remedial 'fork
E~pet~ditrr~`e dap list previously expended pirrslrant to Seetio~~ OC,~ above, ~11 file e~rerit of s~rch
election, Developer shall subtrlit to Agezicy a descrrptlori of file Reniedlal orl~ perfortr~ed~
together' with captes of ~~~voices a~adlor Buell other evidence as reasonably ~~ecessary to
substat~t~ate such casts aril expenses, and Age~ic~ shall reitr~brr~`se Developer ~vitliiri teri ~~0) days
of its r'ecelpt of ~LtCli lrraterials, subject to tl~e cap set fol`tli lie~`einabove, ~f Developer does not
elect to accept such >~~~viron~~.ex~tal ~oridltloti In its riotlce ab~ectil~g to such Env~~`o~~~~ental
anditians, Agency n~ay~ ~vktl~lll tlillt~r ~3D~ days of such written abjectioxa, elect ire writing to
either` r'el~redlate file Erivrr'onlrrental ~ot~dition to file extent required. to satrsfy Developer#s
ob~ectlan ar` ter'mrnate tl]ts Agreement to file applicable pal`t10ri of Slt~ but not ~ to
other Phase of file Sete ~vlilcli has closed pl'ior to such te~`~r~i~~atiali}, In ~~vlirch case Developer`
shat l recolivey file applicable portion of the Site to the Agelicy and lielther` party shall have ley
rrglit of obligations with ~`espect to the other ire canliectian itl~ Birch po~~#io~n of file Site,
Nat~itl~standi~~ the foregoing, file ter'rnlriatlari of ails Agreel~el~t pursuant to this Section
~vitli respect to any Please will not result in the termillation ofthe Ar'eerrrerit with respect to any
other' por'trori of the rte already on~eyed to tie Developer,
5
D~CaCll ~I~~~7~~=1~l2~~272-~0~1
The Developer acki~c~~ledges that it ~ a~~ar•e of and fatniliar• wltli the pra~rsrans
of ectian t X42 of
the ~l~farr~ia i~il bode ~hich ~z"o~id a folla~~s:
EN~RAL RELEASE DOES SOT ETED TD LAM
~II~I TIE REDITR DDES CDT RNA DR UPET
T~ EXIST I HIS FA~~R AT THE TIME DF E~L~Tt~
THE R~L~ASE, HRH HIM MIST HAKE
MATERIALLY A'p'E~TE~ CIS SETTLEMENT KITH THE
DEBT~R~~}
upon the effecti~er~es ofthe relcase set fo~•tl~ i~~ this Section tl~e I~e~eloper
~~ai~res anal relinq~~isl~es all rights at~d benefits ~~Tl~lch may ha~~e urider• Section IS~~ of the
alrfor"nla 111 ode,
DG~~ Deve~apcr Pr'ec~~rtla~ls After ~losiiig, C~poi~ tl~e dosing of at~y Pl~asc,
the I~c~clopei' shall take all reasar~able precautions to pre~erit the release into tl~e eriviror~rnet~# of
ar~y ~Iazrdo~rs Materials in ~iolatiox~ of la~v Mich arc located iii, on or• under the portion of the
Site associated ~~~ith such Pllase~ Such p~•ecautions shall include compliance with all
o~err3mer~tal Rcquirernei~ts itl~ respect to ~Iazardo«s Materials, rn addition, tl~e Developer
shall install a~~d utilize srrcl~ egrripmcnt and implerrrer~t and adhcr•e to s~~cll proced~~res a are
cot~sisterlt ~~itl~ cor~nr~nercially reasonable sta~~dards as respects the diselasur"e, starae, use,
rerrro~al and dispasal of I~azar•dous Mater'~als,
Required Diselastires After Iosilrg~ After #lYe Closing of a~~y Phase, tl~e
I~e~e~opcr' shall notify tl~e Agency, ar~d pra~ide to tl~e Agency a copy or• copies, of ail
en~ii•on~r~e~~tal permits, disclosrr~'es, applications, entitlements or• inquiries r•elatir~ to the por•tiot~
of the Srte rricluded rtl~it~ s~zcl~ Pl~asc, incl~~din notices of ~iolat~oi~, notices to comply,
crtatrons, ir~~uir•Ies, clean-yip or• abatement osiers, cease at~d desist orders, reports filed pur'sl~ant
to sci~»r'epai•#in r'equirci~er~ts and reports filed or pplicatiat~s r~nade purs~~at~t to any
o~errlmental Req~tire~rrer~t r•elati~~g to ~azardorrs Matcr'ials ar~d underground tanks, After the
Closing ~vitl~ respect to at~y Phase, tl~e De~reloper shall report to the Agency, as soon as passible
after cash incident, any unusual ar potentially irnpor•ta~~t i~~cide~~ts ~vitl~ ~•espect to the
En~ir•ot~tr~ental Car7ditiarr of tl~e par~ion of the Site irlcl~~ded ~~ritl~in st~cl~ Phase,
Af~cr tl~e Closing of at~y Pl~ase~ the e~er~t a release of any I-Iazar•dou Materials
lr~ta tl~e erl~lrontner~t in violation of la~~ on s~~cl~ Phase, the De~elaper shall, as saat~ as passible
afters tl~e release, furnish to the Agency a copy of any at~d all rcpo~°ts ~•ela#it~g thereto and copies
of all cor•x•espoxadcnce ~vitl~ govcr'nmental agencies relating to tl~e release, I1por~ request, tl~e
Developer shall f~~t•nisl~ to tae A.et~cy a capy or capies of any and all afher• er~vir•anmental
entitlements or ingr~iries relating to or affecting the Site incl~~dir~g, b~~t not lii~aited to, all permit
applica#io~is, permits ar~d reports including, ~vrthar~t lrrrrrtatron, those reports a~~d other rrratters
~~hich rr~ay be cliaractcrized as confidential.
~OG,7 A~aternerit Repart, Priar• to tl~e Close of Escro~~r for• a P~~ase, tl~e Agency
shall, at its sale cost and expense, deliver to tl~e I~evelaper a ~~~ritten report, reasonably
acceptable to tl~e Developer, prepared by a lic~~sd this'd pa~~y unrelated to the Agency or any
cor~tractor~s} ar• subcantr•actar~s~ u~~dertaking any portion of the abatement of ~azarda~~s
6
~DCS~CI~ ~O~G73V1312~~272~~~~1
Materials associa#ed ~vitli r+ernovai ~~d abatement of a~~~ imps+~vemet~t~ c~~rrientl~ ate #l~e ~it~,
eonfrmit~g that all s~rch hazardous ~#ea#~als have been properly abated and r'ernaved ire
carnpliance ~vitl~ all applicable la~vs, rules and regulations ~tle "Aba#ernen# Report"}, ~~1
addittat~, car~curreri# ~~ri#l~ delive~'y of the ~baternen# Report #o Developer ~vitl~ respec# to a
particular' Phase, #l~e Age~~ey shall deliver #o Developed a letter from #l~e provided of the
Abatemen# Report for s~~ch Phase authorizing the Developer and at~y otter et~ti#y ~vllose iden#i#y
v~ras provided #o .get~cy pr+iar to the #irne the Agency enters into a can#ract for• pa'eparatio~~ and
delivery of #l~e ~4ba#eme~~t Report to rely on the Ab#erner~# Report
Prior to entering in#o a con#ract #o detain the provider' of the ~ba#etr~e~t Report, Agency
shall request fi'orn Developer tl~e names of those parties Developer regr~ires #o be entitled to rely
sr~ch ~baternent ReportF Promptly following such request, Developer shall deliver' a list of
s~~ch t~a~r~es to Age~tcys provided that, if Develaper has not, as of such tit~xe, identified all of its
lenders and investors ~vha will geed to rely ors such .batetner~t Repast, Developed nay deliver an
incomplete list #o Agency ar~d agency shall add the names iden#ified an such iricarnplete list to
tl~e reliance provision of such contdact at~d lase hest efforts, at x~a additional cast to Ager~cy~ to
insert a req~~ta'en~ent in such cailtract allo~vir~g tl~e additio~~ of snore i~atnes #a such list folla~vin
the exeeu#~or~ ofthe contract.
~e~'elopei' ~fe ozadlflUll II~del~tlll~y, Upon Closing, Developer`
agrees #a indeirii~ify, defend a~~d bold ,~get~cy l~ai+mless from acid against at~y claim, action, suit,
pi'oceedit~g, loss, cost, damage, liability, def~cie~~cy, fi~~e, penalty, punitive dar~~age, or expense
{incl«drris ~vitl~ou# limitation, attorney's fees, resul#ing fdotn, arising out of, or' based upon the
bite Condition, includi~i Zvi#lla~~t rims#a#ion ~i~ the release, use, ge~~edatior~, discharge, s#arage or
disposal by Developer oi' by a~~y individr~al or entity for ~vhieh Develaper bear's the legal liability
it3.~lud1~]g, blot not Iiinited to, officers, agents, employees or' coi~tractads of Developer'
~collective~y, #l~e "Developer Parities"~ of any ~azar'dous Materials in viola#io~~ of ~nviro~~me~~tal
~,a~vs dur'ii~g the period of #lae Developer's o~vi~ersl~ip of the applicable Phase of the Site, oI1,
u~~der, iii or abo€~t, or the #ranspad#atioi~ of airy such ~azardo~is ~Ia#edials to or from tl7e Phase of
the Slte by Developer' or airy of Developer Parties during tl~e period of #lle Developer's
o~vi~erhrp of the Phase of the bite, at~dloi' ~ii~ tl~e violation, or alleged violatio~l~ by Developer or
ai7y of Developer Parties of airy ~i~viro~~inental Laws ieltir~ to the rise, generation, release,
discharge, storage, disposal or traripai'tatioil of ~Iazardous Materials on, under, in or aba~it, #o o~~
fr'otn, #l~e Site during the period of tl~e Developer's o~vnedsl~ip of the applicable Phase of tl~e bite,
This ii~deinr~ity shall include, ~vitho~rt liini#atiot~, any datr~age, liabili#y, fine, penal#y, cost or
expel~se arising from or o~it of any claim, action, suit, oi• p~'oceeding far personal irlur~r
~li~cllidii~ slcl~.~ess, disease oi• death}, tangible ar intangible pr`oper`ty damage, carnpeilsatioi~ for
los# images, b~isii~ess ii~co~ne, profs#s oi' other ecoi~orriic loss, dainage to #l~e i~a.tural desor~rce ar
the envii'anrnent, rr~iisance, containination, leak, spill, release od other adverse effect oi~ tl~e
ei~vir;onirient with respect #o the applicable Phase of tl~e bite,
,~ger~cy I+~irvir'oiirtierr~ai Yrrtier~lni#~~, Upon the Closing, Agency agrees to
indemnify, defend and bold Develaper and the Developers Pai~#tes llai4tr~less fi'oin aid against airy
claim, action, Srllt, proceeding, loss, cost, darr~ae, liability, deficiency, fine, penalty, punitive
damage, or expense ~ti~cl~idii~, ~vrthaut liinitatioi~, attorneys" fees resulting from, arising ou# of,
or based upon {i} #l~e pdesei~ce, delease, use, generation, discharge, storage or disposal of airy
~azardorrs Mater"rals in vialatioi~ of
~~tvrr;onn~ental ~,a~~Ts during tl~e period priori to the lasing,
27
D~COC1140~~73v~ 31~~~~~'~-0~~1
l
on, under', ire or abo~~t, ar the transpar~tattar~ of any s~~c}~ ~azar'dous ate~•ials to ar from the Site,
dur`ir~g the period prior' to tl~e closing; or ~rr~ t}ie ~~alatlor~, or alleged violation, of at~y
n~ir`a~~tnental Laves relating to the pr'eserlce, use, generation, ~`elease, disclrar'e, stariae,
disposal ar tr'anspor`tation of I~a~ar'dous N~aterials an, l~I3der, in or` aba~zt, to or fr'arn, the Site
d~rri~~g the per`iad prior to tl~e closing. Thrs ~t~de~nnity shall l~lclrrde, without lirnitatian, any
darnage~ liabillt~, fire, pe~~alt~, cost o~~ expense arising from or out of any claim, action, suit or'
~t•oceeding faro personal inj~u~y ~tt~cludrrlg srcl~~~ess, disease a~' deatl~~, tangible ar inta~ngib}e
praper~ty damage, compensation for last wages, business ir~corne, profits or atlrer ecorrotr~ic lass,
darnae to tl~e natural resource or the err~riran~net~t, nuisance, ca~~tan~rrlatron, leaf, spill, release
ar other' adverse affect an tl~e en~i~+o~~tnent.
2~7~ AgeI1Cy ~C(~~11s1f1oI1 AtI[~l#iorlal P~'opcr;ties. The Agetrcy a~~d the Develaper+
acl~rio~vledge that the Agency ~s cantrn~~rrlg its attempts to acc}~~~~+e all afthe Additiat~al Properties
~~l~ich it does not preserrtl~ o~~n~ ~f acrd to the extent the Agency is srrecessful irr acgr~irit~g same
or all of tl~e Addrtrat~al Properties far+t~r»five ~45~ days p~'iar' to the date of a~~y submrsran of a
Tax r`ed~t appllcatlon to TAB far' tl~e Phase to ~~lriclr each such Additia~ral Pt'aper'#~ relates has
sl~o~vr~ ors the Site Maps, tl~e Age~rcy shall send ~vritterr t~atice tl~ereaf to De~relaper {the
"A~ditianal Proper+ty Notice"~, Upan r'ecerpt of the Addrtrona~ Property Notice, tl~e Agency and
the Develape~' shall rleotlate ire good faith to amend the cape of De~ela~z~et~t far' the Phase ar
Phases to ~vl~ich such Additional Praper`tles relate, as well as an lrlcrease i~~ tl~e amo~~r~t of t~~e
Agency Loan for Phase R-~, to the extent suelr Additiarral Ptapet'tie relates to Phase Frorn
at~d after the date set forth ors the Scl~edt~le of Perfarmar~ce fart each Phase, the Agency shall
rrnrned~ate}~ drscontrr~ue all attempts to acquire Additional Properties foxi suc}~ Phase at~d shall
not send any Additional ~'raperty Notices far such P}rase The Aer7cy Exec~rtive Dir'ector' shall
have the al~tlra~'ity to approve the an~erided Scope of Develap~r~et~t far affected Phases and the
increased arna~~nt of the Ae~~cy Lawn associated there~vitl~, at~d any such amendments or
increases shall he reflected irl rile ~mp~exnentation Agreement{s} far tl~e applicable Phases The
rrlcl«sio~~ of A~ditronal Praper'ties far a Phase shall trot revise the Pur;chase Price as to tl~e
applicable Phase,
SUS, Aexxey Acgxzisi~ior~ of foie eu~~~ Pa~~ce~s, Tl~e Agency arrd the Developer'
aclcna~~ledge that t}re Agency leas co~~cur'rently 17e~`e~it}~ appra~red tl~e Segura P~~rcl~ase
Areerrre~~t. Developer hereby appro~~es tl~e cor~drtron aft~tle and rte arldzt~ot~ ~vrth respect to
tl~e Segura Parcels. In reliance an that appr'o~ral, Agency agrees to rise carn~rer`cially ~ieaonable
effa~~s to acq~?ire the Segura Paz~cels pr~rs~~at~t to t}~e Segura P~~~`cl~ae Agreernerrts, span
acqulsrtroza o~ the eg~zr'a Parcels by rile Agency, the Segura Parcels mill becat~e a part of tl~e
Site acrd be developed. ire can
jr~nctiarr ~vit~~ Phase R-1, Irl t}~e event that t}~e Ael~c~ fails to
acquire the e~~r`a Parcels ot~ o~' before September ~5, ~~0 cif Developer is a~va~ided a
reser`~ation of Tax ~~edits for Phase R.~ } in the second Tax credit round of ~Ola, and otherwise
farts-five days pr'ior' to s~~missiari date of a Tax Credit application to TA far Phase R-1
if Developer does trot r'ecei~e a reservatiarr of Tai Credits in tl~e second r'aurrd of 2~ 14, as all
sr~cl~ dates tray he extended by a challenged, t~~e Developer shall z~edesign Phase R~ }
excluding the Segura Parcels, in ~~~lrrcll event Developer's obi ~gatians ~~'ltll respect to Phase I
sha}1 be extended by the time t~ecessaaiy far' such redesigz~.
~09~ Separate Phrases, Tl~e panties acl~no4vledge and agree that Phase R-l, Phase ~r2
and Phase may be separately awned, fi~~a~~ced acrd developed, a~~d that, lrr the eve~~t of the ~
~8
D~C~D~1~~~~G7~~~1 ~1~~~27~-0~~~
separato a~vnership of tl~e Phases, a Default undet~ this Aree~~ent relating to ol~e Phase, t~~e
applicable Phase regulatory ~g~;eet~~ent, ap~l~cal~le Pl~~se P~~ariso~iy Note ot• A,er~c~ Deed of
`~~~ust shall gat be col~sidet~ed a Defar~lt rotating to at~y other Phase; its other wards, there shall be
Ira crass-defaults bet~vee~~ Phases at~ between the o~vx~etil~ip entities fait each Phase, ~f s~tch
separtiat~ occurs, the o~vnet~ of Phase R- shall be solely and exclusively responsible fot~ the
Phase R~ 1 rights acid obligations under this Agreelet~t, the owner of P~~ase shall be solely
at~d exclusively responsible for the Phase R~2 Nights and obligations under this Agreement, at~d
tl~e owner of Phase P shall be solely a~~d exclusively respanible foci the Phase rights and
abliat~ans ~tndet~ tits Agreeme~lt,
~~0. ~lII1lIl~ p~ Age~~Cy ~~]j1~~lUII, kith respect to tl~e Segura Parcels, the Aget~ey
shall, ~vitl~in one l~t~~~dred t~ve~~ty ~~20~ days of acquisition of each s~tch parcels, ca~~se each of
tl~e falla~vir~g to acc~~r ~collec~ively, tine "Agenc~~ Site Obllgattons"~: ~a~ relocate all tenants and
other inhabitants tl~et~eof in accarda~icc 4vltl~ all existing federal, stag and local 1.~~rs, fib} cause
such parcel to be free of all Site ~n~pt•overne~its, acid ~c~ catnplete ret~ediation of any ~-~a~ardo~~s
Materials it is required to retnediate in accordance ~vitl~ the ~ern~s of this Areetr~etl~. itl~
respect to the Agency Pat~cels, the Age~~cy shall initiate the Agency Situ ~bligatiot7s ~vitlait~ thirty
~~o}days of the earlier to occ~u; of expiration of tl~e thirty ~Q} d~.y period falla~vi~~g t~~e Date
of Agreel~nent ~vitl~in ~vl~icl~ a CEA Challenge nay be initiated ar ~y} resolution of any CEA
Challenge and, thereafter, cause tl~e Agency Site ~bligatiot~s to occur ~vitlait~ sixty ~~0} days
thereafter, itl~ ~•espect to tl~e Additional Pat~cels, tl~e Agency shall, 1f1~1I~ ogle ll~t~7dted fi~y
~150~ days of acq~tisitiax~ of each of such Additional Properties, cause each of the Agency Site
~~bligations to occur,
X00, DE'~L~3PME~' THE P~~~E~',
0~~ ~]eve~oper's ~li~#ia~~ to onstl~~tc~ Developer Ylnp~~ovex~ter~ts; co~~e of
I~eve~oplr~e~~t, ~'l~e Developer shall contr~tct each Phase of tl~e Developer It~provemet~t
substantially in accordance ~vitl~ the hand Use Approvals, tl~e Scope of Development and. the
plans, drawings at~d docume~its submitted by the Developer at~d approved by tl~e Agency as set
forth herein,
~e~1~II Revle~',
3~i~ CoIY~e~}~ll~~ Pj~tl. Ca~~ct~rrently with approval of this Agreement, tl~e
Developer has s~rb~rtitted at~d the Agency has approved cancept~~al dra~Tings for tl~e Developer
~n~pt"ovetne~lts, specifically sl~o~ving a site plan, external facade improvements, and elevations of
all four sides ofthe Developer ~t~lpt~ovet~~et~ts ~callectively, the "Conceptual Site 'Ian"~.
0,2 revisions, ~f tl~e Developer desires to propose any revisions to tl~e
Agency approved. Ca~~cept~tal Site Plan, It shall s~tbzntt s«cl~ proposed changes to the Agency
at~d shall also proceed in accordat~ee with any and all State and local laws and regl~lations
rega~•ding such revisions. At the sole discretion of the Age~~cy~ if any material change in the
basic ~xses ofar~y Phase ofthe Site is proposed its tl~e Concept~~al Site Plan ft•om the basic uses of
s€~ch Phase of tl~e Site as provided fot• its this Agreement, then this Aree~r~ent is s~~bect to
reneatiat~o~l of all tertt~s and conditial~s, including without litnitatiot~, the ecot~amic tet•t~s of
this Agt~eetr~ent with respect to s~~ch Phase afthe Site, ~fthe Conceptual Site Pla~~ for a Phase, as
D~ ~ ~~II ~~~73 1 ~12~027~-~~O l
i
modified by the prapased change, e~~erally and substantially coriforrn to the requlrer~ents afti~s
eetior~ X02, the Agency executive Director shall review the proposed change and nati`y the
Develaper in ~vritir~g ~vitl~ir~ Been {1~} days after subrnissian to tl~e Agency as to whether tl~e
pr"opase~l change is appraved oi` d~sappr{oved. The Agency's Executrve Drr"ectar is a~rthar`ized,
b~rt nat obligated, to approve cl~ar~es that 1 } do nat igr~lficantly madify the overcall cost of the
Develaprrrerit ~rnpraven~er~ts; 2~ do not reduce the ~tralrty of rnateril to be ~rsed; ar~d } do riot
reduce the rr~ag~natrve ar~~ ur~i~ue q~ralttres of tl~e project design,
Defects iii Pl~~~s~ Tl~c Agency shall not be responsible either` to the
Developer or to tl~tr" par'ie its at~y a~ fo~~ and defects its the anceptual Site Pla~~, tsar f'ar' any
str~rct~rral ar` atl~er defects ire ar~y ~var'k lane aceo~"ding to the appr'o~~ed a~~ce~tL~al ate Plan, ~~or
for ar~y delays reasar~ably caused by tl~e r"evie~v at~d appr~QVal processes established by tllrs
ectior~ 3a2. The Develaper shall bald l~arrnless, indemnify and defend tl~e Agency, the City and
their` respective officers, ernployees, agents and rcpt"eser~tat~ves from ar~d aarnst ar~y claims,
suits f
ar~ darnage to property a~~ i~~~~~~~ies to per~al~~ ar'lslr~ a~~t of ol• ire any ~~ay relatl~~ to defects
iu tl~e Conceptual Site Plan, ir~clrrdir~g ~vrthout lrr~r#atlarl, the violation of arty la~vs~ ar~d far
defects rn ar3y ~vol"l~ done according to tl~e approved Car~ceptual Site l'lat~.
U~~ Use of Architectural Plates, Its the event tl~rs Agree~nent is tertnir~ated
pursuant to Sectiar~ ~a~,1 bela~v, tl~e Agency shall become the owner and have tl~e r"igl~t to arse
ar~y Canceptrral Site Plan ar~dlor ar"cl~itectrzr'al plans which are s~rbrni#ted to tl~e Agency by tl~e
Develaper• put+suant to this Section To thr erid, canc~zrrer~tly with receipt by Developer of
the t'eirnb~~rern~~t contemplated by Section 3~3, the Developer shall execute and cause the
Develaper Par"ties to exec~zte strcl~ dacurnentatior~ a may be reasar~ably required by Agency to
cot~firrrr and evrderlce such a~vnersl~rp,
A~et~cy executive Direr#or Appt•a~~al, Whenever Agency approval is
r'equir'ed under this Sectiar~ 3~Z, such approval may be by tl~e Agency executive Director ar his
ar her' designee
3~t La1rd C~sc Approvals, Before cammencerrrent of cor~str"uctran of any Phase of
the Develaper lrnprovemer~ts ar other' ~rar"ks of
irnpr~o~ernerlt p~~rsuant to this Ar`eeiner~t, the
Developer shall, at its ors expense, use its cornrner'cially r"easarrable effar•ts to seclzte or cause to
be secured any ar3cl all land use ar~d other entitlements, perrni#s and approvals ~lricli may be
~+equired for such Phase of the Develaper lrrrprove~nents by the City or ar~y other governmental
agency affected by such corestr"uction or" work ~"Land Use Appr{avals"), The Age~~cy ~vill~ rrporr
request, pro~~ide r~easorrahle assistarYCe to flee Develaper in the De~~elaper's pursuit of such
entitlements, permits and approvals, if tl~e Develaper is unable to obtain any Land. Use
Approvals for a Phase of the Develaper ~tnprovernents, t~xe Developer may terminate its rights
abligatiar~s uz~der4 this Areernent ~vrth respect to such Phase, The Develaper shall, without
lin~itatiarr, apply for anti secure alI permits and pay for all fees required by the City, Co~rr~ty of
~rane~ ar~cl other gover'nrnental agencies ~vit17 ~ur•isdictiar~ over the Site or~ the development
thereof,
Develaper ackrro~vledges ar~d agrees that tl~e execution of this Agreetnerrt does
not constitute the gr;ar~tin of or' a cornrnitment to grant ar~y retlrrir`ed land use per'mi#s,
er~titlemer~ts ar approvals by the Agency or the City,
0
DOCSOCI~ ~~~G731'131~~~~7~-~~~1
0,~ ~alifar~~ia ~rivzroxz~ei~~al uali#y Actf The Agency and the Developer
acl~na~vledge at~d a~~ee that tl~e Agency is solely rieparrsible for' ~~nder~taing to co~~pletian, at its
sole cost and exper~se, arry env~ront~rental studies and doeutr~er~ts required pursuant to the
~alifor'rria l~nviron~~~ental duality Act ~"~A"~. Subject to a detex'n~inatior~ by the parties to
~~hether or trot to proceed ~vitl~ co~~.plia~~ce ~vlth 1JA, a~• tert~inate further efforts regardix~g tl~e
"Project" identified in srrcl~ EA cornplia~~ce, Agency shall d~rly file ~andlar shall ca~~se pity to
duly file} ~ Nance ofDeter'~rrinatiot~ andlor Notice of ~xernptior~ purs~rant to tl~e ~'e~ui~'en~er~ts of
1~A ~vitl~it~ five days after tl~e date of Agency and arty approval of this Agreerrre~~t, Tl~e
Agency hereby agrees that, if any clraller~ge to corr~pletia~~ of the t'quireme~~ts of 1~A delays
or pr'ol~ibits Develaper' frot~n initially applyir~g for fina~~cit~g far Phase ~-1 or R-2 of tl~e Project
~lncl~~dl~lg, ~vltl~oL~t l~~~l~tat~arl, a reservation of Tax redits} beyo~~d February 1, ~at2, ar delays
prol~rbrts De~elope~" f~'om com~rrencit~g develapn~e~~t ofPhase beyond liebr~uary 1, 2U12, then
tl~e Developer shall be entitled to tertr~inate tl3is Ag~'eeznet~t as to thaw Phases for ~~hicl~
f~rra~~cing applicatiot~s or developrnex~t i preverltcd or delayed as set Earth herern arid, upon a~~y
such ter'rr~it~ation, the Agency shalt rei~xaburse Developer for' its Tl~trd Party Costs ~~itliiri sixty
days of s~~br~lissro~i of docutrrentatrori to file Agency suppar'tiri such Tli~rd Patty Costs.
3U3,~ ~o~ ei•gei~~ Cn or prior to December 31 ~ X410 ~~itli respect to Phase R_ 1
acid on or' pz'xo~' to tl~e date ari which Develope~~ applies far' Tax ~~edtt ~vitli respect to Phase ~-2,
file Agency shall cause a lot rilerger' p~u'st~ant to Santa Aria iVll~~~actpal Cade ectioris ~4-~
tl~roi~h 3~-37"~ or otlier ~~bdivisior~ dap Act co~rrpliat~ce so as to coriibitie all of tl~e applicable
parcels of file applicable Plrase into a single parcel,
0~, Sclze~lule of Perforlnaiice, The Developer shall corrrrnerice coristr~tctioti
purs~~arit to validly issued building per'rnits ~vitl~ respect to file Retitai Portion oftl~e Project on or
before tliirty ~D} days aver tl~e Closing far file applicable Phase and sliall complete cot~trr~ctiar~
of the Developer Itrrprovements for the applicable Phase of tl~e ~en~al l~or'tiori of tl~e Project on
or' before twenty four ~Z~} ri~roritlis folo~ving carririlenceri~etit~ for Phase P, grading oti all
partrons of Phase F ~~T~ll cariiriletice ~~~tl~tn 0 days of the onvyat~ce of the first portion or
phase of Phase ~orast~•uction of the Develope~~ ltr~proverilerits p«rs~~ar~t to validly issued
building perriir~s ~vrll comrr~ex~ce ~vlthln nrriety ~9~~ days of Canveyarice of the first portfot~ or
plisse of Phase PS, acid ~vitliiti 3~ days after Conveyance of s~~bse~rrerit portions or phases of
Phase 1~~ o~r~pletion of all construction shall oeci~r' ari ar before twenty-four' ~2~} rriontlis a~er4
cotrrrilencenient of
~onstt`l~CtiDt] OIL tl~e first portiar~ o~~ phase ofPllase
Dcvelopi~]erYf Obllgatiotls,
U~,1 Cosh of o~rsfructioii. All of the costs of tl~e plat~tiin, design,
developrnerit and construction of the Developer lrraproverrrerits shall be 1~o~'ne solely by file
Developer.
0~,~ Public Art ~`ee, Developer will provide publrc art ova bite or iii file nearby
vicinity at cast of not less than axle-half percent ~~~°I~} of the building permit valuation far
Phases R~ 1 at~d R- ~"Public Ar't A~~~ount'~~. The Agency and ca~llriluriity organi~atio~xs
identified ley the 1~gerrey 4vill identify the lacatior~ and the local a~~tistic resources available to
provide SL1C11 p~~bllc al't, rf and to the extent less tliari tl~e Public Art Amount is expended, this
difference ~~ili be paid to tl~e Agency as a fee,
31
DD~s~C11~1~~67~~1312~~~72.00~ ~
D5, ~ro~isior~s of CI~iId dare ~`acllities~ Upon issuance of a final cct•tificat
occupa~~cy for the proposed approximately ~~0 square foot colnmc~nity cel~ter to lie located
~~itllin Pllase l~-1, Developer mill cause up to ~~DD sq~~a1'e feet on u1li~llproved space v~itl~irl sucl~
community center to he available at na cast for a child care facility at tl~e Site ~tlle "Child Care
Facility"}; provided, hou~e~~er, if a suitable da~? ca~'e p1'o~~idr Is r10t~ 1d.elltrl"led ~~V1t1~~1~ six
1rrol~tl~s of issilarlce of a filial certificate of occupal~cy for the l~ild Care Fac111ty,1~e~~eloper's
obllgatlolls llllder this Section 35,3 shall terlnil~ater The Developer' shall coordi~~ate with fire
Agency and colnln~~nity rep~'eentat~ves designated by fire Agency to ~dentlfy a q~iallfied day ca~'e
p1'~v1d~1', Develaper n~ak~s rlo represel~tatl~n aI" arr`anty that s~lcll space ~s for any pur'pase,
illcludillg, ~~it110~~t ll~nitatian, the Cllild far;e l~acil~t~r~ The Child dare ~'acillt~ ~~ri~ be a~erate~
by a care prio~ider` approved by Developer in its sole a11d a~solE~te discretian pursuant to a lease
~vl~~cl1 ~v~ll also he sula~ect to Develope~{'s appl'a~al 111 1t Is sale and absolute dlscretiorr,
Developer` shall have ~~o liability ar obllgatlorl ~~rltlr 1`~~pect to tl~e Iderltr~catlol~ p1'ovider ar
fat' the services provided at tl~e Child Cal"e I#ac111ty~
30,4 letarl Space. The Developer' will cox~st~'r~ct a1~d offer corl~lnercial
retail space ~vitl~in I'l~ase -1 to a tella~rt 1•easollably acceptable to Developer' for ~`e~~t at less tllall
111a1'1{et val~~e so to pra~lde atl oppD1't1~111t~', fll'~t to z'eslde~~ts of tatloll D~str~ct ~~ld second
to ~`esidents ofthe City, to provide t~eillborhaod se1'vilr retail at affox"dable 1'errts,
The Agency and corrrlnt~nlty repreentatrves designated by tl~e Agency ~~Ill assist Irl
C~~1`dllratlllg Developet''s efforts in this I•egal'd~ Its tl~e event that file parties ate ~znal~le to locate
s~~cll terlal~t ~vitl~il~ x~inety X90}days fr`o1n the iss~~al~ce of a temporary cer'~if
~cate of o~c~~pancy for•
srrch retail space, the11 »e~velopea~ is na longer' obligated ul~cler this Section ~0~.4,
DG, Irrsur•aI1C~ ~{~~~~~'erlle~~~s. Tl~e Developer` shall secure from a cornpally or
cornpatrles llce~~sed to carldrrct insurance b~~slrless the state of Callforrlia, pay for, a1~d
111a111ta1n 111 fill fo~'ce and effect f1'D111 a11d aflel` fire Closing far each Pllase, a11d co11t11~~ling far the
dr1~'atian of Affot"ability Pe~4iod ~ecept as p1•o~icled in Section he1•eaf~~ ins~r•ance as
regr~ired herein fo1' such phase issued by ~1l "A:~I" 01' better rated i1~su~'ance car•I•ier' as rated by
A,~1, Best Cozr~pany. The Developer shall furrlil~ certificates of ins~~rallce and enda~"sel~lel~ts to
the Agency pl`ior ~o tl~e applicable Clos111g and shall fiat`nisl~ corrlplete capies of s~~ch policy o1'
policies uporl request by the Agency
30G,1 irzlIrlxtrn Co~rcz'agel:~r~~~o~•serllerits, ot~~ritllstar~di~~g airy inconsistent
statement i11 file policy ar any suhseq~rellt erl~ioliscrnent attached hereto, file protectiC311 afforded
by these policies shall be ~vritte~~ 011 an acc~~rr`elrce basis ix~ ~vhicl~ tl~e Agency, City, a1~d tl~eir
r;esp~cti~e elected and appointed officials, officers, empla~~ees, agents at~d repliesentati~es
~togetl~el', "Additional Insureds"} are na~rled as additional irrsureds orl all covez'age, except for•
~orkel`s' coll~perrsation co~Terae, arld slrall;
{a~ ~a11~e Additio~~al Insureds {fi'orll above} as additional irlstlreds D11 a
Co111111e1`C~al et~eral Liability ~"CAL"}policy;
~b~ lrlclude ate endal{serlrerlt to file CAL policy t~at~lillg the Additional
Insr~reds a additiarlal 11rs~~reds, ar~d said et~darsement shall be delivered to the Agency
3~
D~~SOC114~~b?3ti~~ 312~~~72-~~~1
Exec~~tive Director• prior to a~~d as arl Agez~cy's otaditior~ Precedent ~ar~d n~ai~Ytained as required
herein;
~c~ Provide a combined single limit of
b~•o~ ~ot•~r~ catntne~~~tal et~erl
liability insurance ire the a~r~ount ofT~vo Million Dollars ~~,~~~,p~~~ per occ~z~~rence, ~vl~icl~ will
be cor~sidet•ed equivalent to the required r~~lr~itrru limits, axed such insurance shall ~i~ be 4vr•ittet~
on an occurrence form, err} be ~v~•it~en with a primary policy for~~ ~vitl~ lirnits of not less than
l,aaa,oaa per ~cc~~r•r•ence; viii} be ~vrrtten ~vrth arse or• mare excess layers to b~~it~ tl~e total of
primary and excess coverage limits to trot less tl~at~ ~,~Oa,O~a per occurrence, Div} not be
~vritter~ with a cled«ctihle greater than ~~,aaa per accurre~~ce, contain a ~vai~er of
subrogation ire favor of tl~e Agency;
~d} P~•ovide prin~ar•y auto~r~obile liability it~s~r~•ance for owned,
t~on~o~vr~ed, and l~ir•ed vehicles, as applicable to, or for at~y use related ta, tl~e Project, its an
a~r~out~t rat less than ~r~e Million Dollars ~l,aaa,OQ~~ combined single lir~7it, with excess
ins~u~a~~ce coverage to bang the fatal al~noz~nt of a~~tot~~obrle lrab~I~ty rrrstz~•at~~e coverage to are
ama~~nt not less ti~a~~ T~va .illior~ Dollars ~2,a~a,~~~~ per accident for• bodily it~j~rry ar~d
pr•ope~~y damage;
fie} dear a~~ endorser~re~~t or~ shill leave attached a r•ider• p~•oviding that
Agency shall be rlot~~ed not less than tl~rr•ty ~3a} days before any expir•atiot~, ca~~cellatiotl, or
tan-rer~e~val of such polio or• policies, ar~d shall be r~oti~ed riot less than terl ~l dads after at~y
event of ~lor7payn~er~t of pretty iurrr; ar~d
~]evelape~i shall also file with Agency the fallo~vitt sighed
cer•tificatian,
"I a~n aware of, and will comply ~vitlt} section ~7~~ of the
Lobar bode, requiring every employer to be i~~s~zt~ed against
liability of o~~kers' oxt~pei~satio~t or~ to ~~nde~•talCe self i~tsur*ance
be~oi•e camniertciit any of fife ~varlc,~a
Developer shall co~ttply with Sections 7~~ and 38~a of tl~e Labor bode by
secririi~g, paying for aid ~ttaintaini~t i~~ fill force and effect from. attd after• fife lasing, attd
coritir~uitt far tl~e dur•atior~ of tine Affordability Period, cotttplete ~vo~~l~ers' eoipenatian
iilsurai~ce, to stat~~toa~y liinit, with en~ploye~~s liability li~r~}ts riot less tl~ai~ Orre Millio~t dollars
~ 1,aa~,Qaa} per occ~rrre~tce, and stall fiirrrislt a Certificate of ~rrsui•a~tce to the Agency before
tl~e co~~~n~er~cente~tt of or~st~•~rctiot~~ All ~dditianal ~r~s~~reds shall t~~t he respot~sihle far ar~y
claims lit la~v or• equity accasiorred by fife failure of the ~eveloper• to carnply with this
ectiari 3aG~l. ~ver•y ~vot4l~ers' contper~sation insurance policy shall bean an ei~do~•ser~ent or shall
leave attached a rider providing that, rig fife event of exprratio~t or• proposed cai~cellatiott of such
polio for airy reaso~t ~vllatsoever, the Agency shall be ~~atif
led, giving the Deveiaper• a s~rfficier~t
time to corrrply itl~ applicable la~v, but ire Ito event less than thirty dais before s~~clt
expi~•ation, cai~cellatian, or reducttot~ in coverage is effective or tern ~l a} days in fife event of
nanp.yirient ofpreinit~m.
f
~a~~~~1~~~~~~~'1~~~~~~~~-~~~ ~
~ 3
f
fig} ha~~ld at~y the insurance co~rerae re~trired here be written itlr
an a~~nrral aggregate st~clr aggregate shall be disclased in ~~rrtrn to the Agerrcy.
~h~ Par' all insrrrarrce re~rrired under this Section 3~~,~, tl~e Agency
sl~a~Il lave the right, at eery eve ~5~ year period, to ~'evte~v the types arrd ltrn~ts of rnsurance
co~rerage req~rired l~ereir~ arrd to male reasonable adusttents, provided that such types at~d
Iit~its shall not exceed teat typically carried by the o~vner' and operator of a carnpa~'able
affoz`dable ha~~sin apartment can~plex, of approximately the sat~.e size, ire range Co~~nty,
~alifarnia, based orr reasonable research at~d irr~restigatian by tl~e Agency.
U6~~ P~~opet'ty ~t~str~~aricc~ arnr~~enci~~g rrpor~ the ~Iasin fot• each Phase and
cantrn~~rrrg for the dru'atior~ of the Affordability Per4iad ~vitl~ respect to srtel~ Phase, ~evelapet'
shall seut'e, t~aintairr, at~d pa~~ ~'or the folla~~ing ali~risk Praper•ty Insrtr'at~ce; provided, l~a~vever',
rte tine ease of~utlder' il~ it~srtrat~ce ~vlrete Developer{ i not tl~e general contr'actor', Develope~~
r~~ay cause the requi~'ed builder's risk insurance to be sec~~recl, tnairlta~ned, arrd paid for' by the
general cat~tt'actar;
~a} Prior to tl~e start of construction at~d cat~tintting ~~t~til the
carnpletion of corrstt4r~ctian {tl~e latter of firral aceeptarrce of the Praject o~i issuatrce of the final
certificate of acc«paney for the Pa'oject}; aliwrik builder's Risk course of co~~struction}
insurance coverage in ate an~olttlt e~~al to tl~e fell cost of the Lard canstt'~~etion casts of tl~e
~'r+o~ect, ucl~ insrtrarrce shall cover, at a minirrr~lrrr: all ~vork, trtaterials, at~d e~uipmer~t to be
ll~c~r'p(~r~t~d rnto tine Pr'o~ect; the ~1`a~~~t d~~r't~~g carlstr~~ct~on; the corr~plete~l Project llr]tll such
tirrre as it is accepted by the Agency; and storage at~d tr'anspor'tation risl~s, ucli rt~sut'ance shall
pr+otectlrns~rre the interests of the De~reloperfo~vrrer at~d all contr'actor~s~, arrd all slrbcontr'actors,
as each of their interests r~xay appear'. ~f s~rcl~ ins~~r;ar~ee i~~clude~ a~~ exclt~iat~ for `{design ez'x+or,"
such eclrrsiarl slrai~ only be far tine object or portiarr ~lric~x failed. Such ins~tr'at~ce si~all incl~rde
ate inst?rer's ~varV~t` of subrogation its favor of each pratectedlinsured party thereunder and the
Agency, Tl~e Agency shall be rratned as an additional lass payee, as its interests rrray appears,
with a lass payable endorsement, ~vhicl~ shall be delivered to tl~ Agency priior; to the start of
cot~str~~~ctior~.
fib} otrtt~rencing ~~vitl~ tl~e completion of car~str'€tction at~d contir~rtin
for tl~e duration of the Affordability Period: ~a~ all-risk physical da~~age ins~rr'at~ce coverage, are
are all-r'isk basis, eoveririg II insurable str'~rctrtres and etluiprnent, inclrtding coverage far' buildi~~g
code changes, rrr an at~ount nat less than I0~°I~ of the replacerxrerrt cost of tl~e total valrtes at risk,
~vhicl~ shall be adjusted for increased costs of cot~strlrctiar~ arrd replacement on an ann~ral basis,
to protect against lass af, damage ta, or destr'uctiorr of tl~e Projects such ir~s~~r'a~~ce shall riot
contain a coins~rrar~ce cla~tse; ~b~ brtsiness interr'rtptian and extra expense insurance to prated tl~e
Developers and all Additior7al insureds covering Ions of rever~rres andlor extra expense incurred
by reasarl of tlae total ar' par'tial suspension ar delay of, or rnterr•~rptior~ in, tl~e operation of tl~e
Pr'o~ect, or at~y portion thereof, caused by loss or ~ltrtage to or destrrrctrari of at~y part of the
ins~trable real pr'aper•ty structures or' e~~xiptnent as a result of the perils ins~~red against ~rnder such
all-risk property ins~rrat~ce~ covering a period of srzspensian, delay ar irrterrrxptian of at least
t~vel~re ~l~} calendars months, its an atnaurrt not less than the amount required to cover' such
business interr~iptton at~dlar extra expense loss during any s~~cl~ period; srtch insurance shall not
contarrl a deductrble iii an ai~arri~t iil excess of a tl~ir~ty X30} day period; and ~c~ as applicable,
D~CS4 CII ~ ~~b7v 131~4~~"~2-DDD ~
boiler and maclairrery irrsurance ita the aggregate a~~no~tnt of the firll replacement value of the
equipmerrt typically caver'ed by s~tch insr~rance; such insur•atace shall lie extended to include
b~tsirtes inter'r'uptiorrlextra expetase coverage, as dcseribed above, provided, lao~vever', that the
limits of covet•ae shall be not less tlaata ninety days instead of t~velve ~l rnotatlas~ ~n ~lre
covet•age required ~tnderi this subparagraph 306~2~b}, all ~ddrtrarial ~ns~treds shall be named as an
additiorra~ lass payee, as tlreir4 itatet•ests tray appear, vita a lender's lass payable endorsement
~~hetaever~ possible, and taot attainable for• Add~tiotaal Irrsureds otlreri than agency, tlrerr a loss
payable etadorsernent rna~ be ut~ I ized, ~vhich shall be del ivered to the Agency at the canrpletiorr
of constructian and priar to the expiratiot~ of tlae builder's r•lsk eavet•ae required herein,
~c~ Doti all arrsura~rce req~t~t•ed under thrs ectrora said palices
shall pravfde, by endorsement, that they ~vill trot lie catrcelled oz4 taon-rene~ved ~vitlrout at least
tlair~y X30} days pr~~or ~~ritterr notice to the .gency, except i~r tlae event of nan-payment of
premium ~~rlriclr shah ptio~ride far' at least tern ~l days pr•lar' ~~~rltterr rrot~ce to the Agency,
063 Applicabi~i? ~o ~o~~-Sale ~o~~~torr off' #~te P~~o~et' The itasutkance
pravlsiorrs acrd requiretarent asset for~t~r in this Sec~iorr 306 shall apply to both the ~etrtal 1'oz~tion
of tlae ~'ro~ect acid the for«Sale Portion of the Project; provided, lro~vever, that taotithstarrding
airy provision or r'egttirernent of flair Section 306, tlae Developer' shall have na obligation to
maintain any foz'tn of ttasurarrce ~vitlr t~espcct to arty ~-~ol~srtrg Utah ~lncludln airy Affar~able Fo~~-
Sale Unity located ~vitlain the I'or-Sale ~'ortion of the Project upata the sale of such ~.o~tsitag Utait
to a third-party buyer Upon the sale of the last l~o~tsita Urai~ located ~vitlri~a the Por~Sale Portion
of t~~e Project, the Developer shall have rro further obliatio~r to rnaitrtairr stay itast~rance itlr
respect to the Por~Sale Portion of the Development that ~vauld other~~vise be required p~tt•suant to
this Section 306
~t1delYrrllt~'
307,E ~3e~velopex' ~~Zdertanity, Developer shall rndernrrrfy, de~etad and bald
lrarrnless Agency atad ~it~~, their' respective officer's, agents, employees and volr~rrteers fr•on~ atad
agairas~ any and a Ions or damage, expetases, itrjuries, death to arty pet•son, damage to r;cal ot•
personal properly, elai~rr, dematad, suit, ac~iorr, judgmetat, se~tltnenti reasotrab~e attorney's fees,
costs, ox• px•aceeding of try lCitad arisi~ag out of l~evelopctk's acttans arld obllat~ans rrr~sr~arl~ to
this Arecrnetrt~ Develaper•'s inrplerne~atatiota of Allis Agr+eetn.etat~ l~e~relaper's recur+i~rg of
fitaancin, desrg~r development drawings, the etaineerin, corrstructiorr, xieconsfruc~larr, structural
irrtegr4ity of floe Pr'o~ect, rrraintetaance of Project, opcratiota atad subsegrtent sale of the Pra~ect,
1nclUding but not ltmrted to~
~a} latent mater•tal defects rrr canstructiorr of floe Pro
jest;
~b~ airy cotastructron defect rtr the 1't•o~ect;
(c~ personal it~juz~y, itacludin death, oft~re etnplayees, agents, of~icet•s,
arrdlor volr~nteers of Developer, Developer Parties, atad~o~k atr~~ subcontractors, independent
CQrlt~'aCt01's, par'tt~er"s, arld~or' s~tbstdtar~te or tlrlr'd par'tres rr~ connecttata ~vitlr the Pro~ect$
DDCSOC~1 ~~0673~~~ 312~~2~2-~~~~
i
. f
~d~ praper•ty da~r~age claims of the ernployees, age~~ts, officers, andlor
~alulrteers of Developer ~evelopel' Parties, andlor a~ly subcantr'actors, independent contractors,
partlrers, and~oli subsidiaries or tlrird parties ~n connection ~vltlr the Project;
delay in corrstructio~~ of the P1'aject beyond the dates set foi~lr
here~~~ and tl~e clred~rle ofPerfoa~,~at~ce acid subject to ~~•ce ~~rr~~j~~r~~e; acrd
~ tl~ie failrri'e to rrrake req€~ire~l real estate disclos~rles to subseglrent
br~yers of hoirres an Phase li t
Develapez4's obl~gatlon to lndeirrnl'y as set forth in this Agreerrrent slrall extelicl to
loss ~i' dalrr~rge, ex~errses, irrjrrries, death to airy p~l•SOII, dalrrae to real or perolral property,
clallr~, delr~al~d, slrtt, action, ~udgl~.~l~t~ settle~i~eilt, reasonable atta~~ney's CastS, or'
praceedlirgs of airy kind that are disco~rered or accrue, eltller before Qi' a~e~; tl~e tern~~natlan of
this Areel~rent,
~at~~rthstalydln the fog+egoi~~g, De~elopei' shall ~~ot be reylrired to rrrdeirrrrrf~? alyd
lrald lr~i'mless Agency or tl~e pity for lrablllty attributable to the acti~~e rregliet~ce of, i~itentional
n~isconciuct or breach of this Agr'eer~ierrt by Aget~c~ or the pity or airy of their boards,
afficez~s, employees, representatives or agel~ts.
3D7~~ AgellC~' ~11(~~IrrYll Agel~cy Shall llldei~ln~y, defend al]d lrold ~lal'lnles
De~elaper' alyd its officers, agents, and employees f~•on7 al~d against airy alrc alb doss ol` dal~age,
expeises, ilrjrrries, dea.tl7 to any person, dalrrage to veal or persolral property, clallrr, del~lyd, suit,
actiox~~ j~zdgl~~el~t, settler~relrt, reasol~able attori~ey's fees, costs, o~{ proceedi~~ of airy kind arising
out of Agency's al~d pity's actiol~s or o~~~issians p~~lsuarrt to this Agl;eenrent, Agelcy's
perforlriance of its obliatiarrs ~~lydel• ti~is Agreement, and tine ~~elience of, llrterrtlonal
miscond~rct by, of breach of this Agreeirrent by Agency or the pity or any of tl~eia4 boards,
officers, enrployees, rep~ieset~tati~es ar agents, including brrt not limited to.
~a} Agelroy's ~~elocatiol~ of the residerrts a~~d occupants of the bite,
fib} The entry upox~ tae bite after' lasilr by Agency or pity or tlreir
respective officer's, agelrts, e~~~ployees acrd ~al~rnteel•s,
~c} Agency's ac~ulsltlarr alyd lrralragetnent of the bite pl'ioi' to t~~e
~losilr ~`or the applicable Phase ofthe lte~
Aelcy's obligation to tndelrrirify as set fot~tl~ in tlris Agreelrrent shall extend to
loss or damage, expenses, i~~juries, death to airy person, damage to real ar persorral piopex~ty,
clairrr, den~a~~d, writ, action, judglnerrt, settle~~~ent, 1'easonable attol~trey's Fees, casts, ar
praceedilrs of airy kind that are discovered or acc~~ire, either before of af~ei` tl~e tert~lination of
this Agreetrielrt.
~ot~~ithtalyding the foregoilrg, Agency shall not be r;eq~~ired to l~ldenrnrf~ acrd
hold harmless >~evelopel• for liability attributable to tl~e active negligence of, intentional
rr~isconduct by, ar br'eaclr of t~ris Agreelneirt by Developer or its officers, ernplayees,
r'epreselrt.tives or agel~ts; noi' shill the Age~acy inclerrlnif} and hold Deveiopel• l~arrrrless ~vitlr
3~
D~SO~J 1 ~~4~~3~F1 ~12~~27~-~D~ ]
i
respect to any action challenging the ~al~d~ty of this Agreement or' ar~y ot~~e~4 actions of Agency
in cot~~nectior~ with appro~~al oftl~is Agreement, including ~vitl~out limitation, ~~~A halie~~esi
~8~ Rig~~#~ oI" ,~cce~s. Prior to the issuance of ~ >~eleas of ~onstructian overrar~ts
with ~'espect to each Phase specified in Section 13 of tlYis Agr'eerrier~t}, for` purposes of
assuring com~pliat~ce ~vitl~ this Agreemei~t, represer~tati~ves of tl~e Agei~cy shall lave the rrglit of
reasonable access to ar~y Pllase of t~~e bite that leas nat yet received a release of ox~struction
covenants, ~vitbotrt charges or fees, at r1orrna~ co~~strrrction lYa~rrs during the period of
construction for tl~e purposes of tlais Ar'eetrrer~t, including b~.t riot lrrrrrted to, tl~e i~~spection of
the ~vorl~ being performed irl cor~str~~etir~g the Developer I~npraver~~erits so long as tine Agex~cy
repr'eser~tatives cv~ply ~vitl~ all safety rules, In exercising s~~ch entt~y right, tl~e Agency shall not
inte~'fere ~~itl~ or dlsr;upt tl~e De~e~o~e~'' co~~s~rue~~on ac~l~ltles. Tl~e Agene~ ~a~~ its
~'ep~'esentativ~~~ Shall, except rn ernergericy srt~~attons, ~~otify the Developer prior to exercrsrr~g
rights p~~x'srrat~t to Mils section X08, ~~ith a t~~ii~irrr~~r~ 2~ bou~'s Notice, In s~rch e~~ent, file Agency
shall defend, rndernnify ar~d ~~old the Developer, its rnerrrbers, par;tt~er', e~~~layee, at~d officers,
llarr~less ~vitl~ respect to ar~y claim, demat~cis, damages, defense costs, liability or expense
including, ~vrtl~out lin~rtation, reasar~able attorneys' fees ar~d co~rrt casts of ar~y I~it~d or nature
relating to tl~e Agency's exercise of its right ofaccess purs~~ant to this ectioi~ 3D8,
3U9, I~vrrci~scriir~trrr#ior~ ire ~~r~ployl~~e~Y#. De~~eloper' eer'tifies at~d az'ees that all
pe~~sons errrployed or a.pplyir~g fog; e~r~pioyl~e~~t by it, its affiliates, s~~bsldlaries, or bolding
cornpa~~ies, and all subcontractors, bidders and ~eiidor+~, a~'e and will be treated equally by it
~'~ltllo~~t regard ta, o~~ because of race, color, religion, ancestry, national origin, sex, sexual
orie~itatiat~, age, pr'egr~at~cy, cl~ildbirtb or related medical cond.itior~, medical conditio~~ ~cat~cer
related} or physical or mental disability, and incompliance with Title 'III of tl~e civil I~igl~ts Act
of 1964, 42 t~~.G. Sectiari 20D~, ~ seq~, tl~e ~'ederai ~~~ral Pay Act of 1G3, ~ U~F~
Section 2~6~d}, the Age Discrirninatior~ ire ~r~ployr~rent A,ct of 1967, 29 U,, ectiari 621,
~ se~~., file Ir~r~rrgratlon l~eforxr~ at~d ~ar~trol Act of 1986, ~ U~SF, Section ~ 3~~b, e~ serf., 4~
U... Section 1981, tl~e California Pair ~r~ploy~~ent and I~a~~srrig Act, dal, government bode
Section 1900, e~ se~~,, tl~e alifornra ~q~zal Pay La4v, dal. labor bode Sectiai~ 1197, dal,
overnrnent fade ectiot~ 111 the Arrrericans itl~ Disabilities Act, 42 Section 1 ~1 D 1,
et se~~,, ar~d all other` anti-discri~ni~~ation laws and regulations of tl~e i~rlrted States and the state
of ~alifari~ia as they no~~ exist or ~r~ay hereafterk be amended, T'l~e Developer shall allow
representatives of the Agency access to its et~.ploy~r~e~~t ~+ecax'ds related to this Agreerner~t during
regular' business lours to verify compliance ~~rtl~ these provisio~~s ~vl~ei~ so requested by tl~e
Agency,
3~~~ Taxes alai Assessrncri~s, Except to tl~e extent exer~~pt tl~erefr'om, tl~e Developer
shall pay prio~~ to delinquency all ad ~ralorern read estate taxes and assessments on each Phase of
tl~e bite attributable to periods subseq~rer~t to closing far s~tch Phases s~~bject to tl~e Developer's
right to car~test in good faith a~~y s~rcb taxes Folla~ving the closing far ar~y Phase, tl~e Developer
shall remove o~~ Dave removed oily levy or attcl~t~ret~t Made on a~~y Phase ofthe Site or any part
thereof, or' ass~~re tlje satisfaction thereof within a reasonable time 'ale Developer tnay apply for
propea-ty tax abatement from file payment of all property taxes or assessments d~rr'it~g tl~e period
of its o~~~r~ersl~ip on any interest in or' to the Site or any part thereof,
7
DDCS~C1~4~0G7~?+~3I2~27~~O~~t
l €
311. om~~lia~~ce r~t~~ Laws, The De~elope~• shall carry art the design, cons#r~~ctiot~,
de~elapment and operation of the Developer h~pro~e~nents in canfor~ity Frith all applicable
laves, l~icl~~dlt~g all applicable state labor standards, City coning and development sta~~dards,
building, plun~bit~g, ~r~ecl~anical and electrical caries, a~~d all other pro~~sions of the City's
Municipal Cade, and all applicable disabled and handicapped access x+equirements, it~cl~zding
~vitl~out li~nitatiot~ tl~e America~~s itl1 Disabilities Act, 421J,,C, Section l21 a 1, e~ s~q,,
o~ern~r~ent Code Section 4450, e~ seq., Co~err~tnent Code Section ~ ~ 135, e~ seq., and tl~e
t.Jnruh Civil igl~ts Act, Civil Cade Section 51, e~ seq,, and a~~y other applicable
a~e~'nn~et~tal egl~irements.
3~ 1~1 1're~~ar~ing image La~~vs. Developer sl~all carry out tl~e cot~structian
t~~~~augh con.~pletiot~ oI`the project at~d tl~e overall de~elop~nex~t of the Site i~~ canfo~~xnity ~vitl~ all
applicable federal, state and local labor lags atld reg~~latiot~s, including, ~~itho~~t li~~itation, if
applicable, the require~net~ts to pay pre~ralllt~g wages under fede~'al Ia~v ~tlle Da~t~s-Baran Act,
40 U,S,C, Sectio~~ 141, e~ seq., at~d the regulations promulgated. tllete~~nde~i set fortl~ at 29 C~'~
fart 1 {collecti~rely, "]~avis-Baco~l"~) and Califarr~ia la~~x ~~,abor Code Section 1'~~a, seq..
~ot~~itl~standir~g the faregoi~~g, ~a} tl~e Agency ~~ereby acl~~a~~rledges and agrees that ~aatl~ing in
this A~•ee~x~el~t for ar~y of tl~e dacumet~ts ente~'ed into by tl~e Agency and tl~e >~e~e~ape~~ i~~
col~t~ectio~l ~~itlr tl~e trans~ctio~is ca~xte~r~plated by this A.reeme~~t is inte~~ded to it~pase o~~ tl~e
Developer, contract~~ally or otl~er~vise, tiae obl~atlon to pay prcvaili~~ images ~zt~der federal, state
o~' local la~~, at~cl ~b~ the Agency l~ereby represents and v~arrat~ts to tl~e De~elopeiF, its s~~ccesars
and assi~~s, that all fi~~~ds ~~sed by the Age~icy in cannectiar~ v~ith this A~•eernet~t at~d the
trat~sactia~rs co~~templated hereby, i~~cludit~g, v~~itl~out limitation, finds used and to be used by tl~e
Agency to acquire each ar~d eery con~pone~tt of tl~e Site, funds used at~d to be ~~sed to pay for
relocat~o~~ and demal~t~o~~ of exlstln l~~pro~emet~ts a~~ the bite, fends used and to be used to
fund tl~e Ae~~cy Laat~s a~~d fiends used and to be used to fend Hot~~ebuyer Assistance ~,oans,
solely co~~stitute ~~aneys from a 1~a~~ atld Moderate ~tacotne Ilausi~~ ~'l~nd established purs~~a~it
to Sectia~~ 33334.3 of the California Health and Sa~'ety Cade, all v~it~~n tl~e meaning of
section 17~O~c}~4~ of tl~e alifo~*nia Labor Code, The Agency unde~~stancls acid agrees that tl~e
>~e~eloper ~~rill ~~~aterially ~;ely on the foregoing v~rarra~~ties i~~ its determination as to ~vhetl~er
prevailing ~~ages a~'e required p~~~'s~~ant to Califo~'nia lave or Da~ris~Bacon. Tl~e pa~•ties
ackna~vledge tl~at ~t~ancing str~~ct~~~'e utilizing certain fctleral a~idlor state funding sources at~d
financing scenarios ~l~t ot~her~~~se Idetltlfl~d ~~e~'eit~ ray trigget• corripliance ~~ritl~ applicable state
at~d federal prevailing ~~age laws and reg«latians. The applicability of federal, state and local
prevailing ~~age la~~s vvill be dete~'~nined based €~po~~ the final financing str~~ct~tre and sources of
fi~~~dit~ of tl~e pro
jest, as approved by floe Agency ~xec~~tive ~]irector,
The De~~eloper shall be solely responsible, expressly or in~pliedly a~~d legally a~~d
financially, fo~• deter~~~~~in a~~d effectuati~~g compliance ~~itl~ all applicable federal, state and
local public works requirements, pre~ailii~g v~age laws, lobar Ia~vs anal sta~~datds, a~~d, except as
pto~~ded above, ~~either the Agency tlor City makes any represe~~tation, either legally andlor
financially, as to the appl~cablllty ar not~~a~~plicability of any federal, state a~~d local laws to the
I'~'oject, either onsite ar offsite, Tine Developer expressly, l~no~~i~~gly a~~d voluntarily
aclc~lo~~vledges and agrees that neither the Agency nor City ha~re preciously represe~7ted to the
Developer or to atly reprset~tati~re, agent ar Affiliate of Developer, or at~y cantractor~s~ or' any
subca~~tractot•s~ for the canstr~uctio~l ol{ development of tl~e Project, i~~ ~vritit~g or oti~er~vise, i~~ a
calf far bids or o~l~er~~ise, tl~at the ~vo~'k at~d construction ~~nde~•talCen pursuant to tl~is Ag~'eement
3S
DD~a~ll ~~~b73~~t 31~~D272-~00 ~
is ~or• is loot} a "public work," as defined in ectiot~ l?~~ of fire Labor Code or under•
Davis-Bacatr,
The De~elaper knowingly and ~rolul~trily agrees that tl~e Developer' shall lra~e
the obligation to provide any and all diselosr~res ar Identlf~cattcns as I"equlred by Labor Code
ectiat~ 1781 a~rdlor Davis Bacon, as the satx~e rrray be at~retrded fr•olr~ tame to ti~rre, or any
other si~~nilar acv or regulatialr, rf aird only if the repr"esentatlon and 4~arr•anty provided by the
Aer~cy to fire Developer in this Section 11 ~ 1 remains true, cot•1•ect and eorrrplete in every
respect, tl~e Developer shall lndexnt~ify, protect, pay for, defend acrd hold hart less tl~e Agency,
the City and their respective afficer•s, e~nployecs, agents and rep~•esentati~es frotrt at~d against
any and all loss, liability, damage, claitrr, cost, expense andlor• "increased casts" ~irrcludirrg
reasonable attot•x~eys fees, court acrd llttgatton costs, acrd fees of expert ~~it~resses} ~~1~lch, in
cal~nectia~r ~~itlr tine development, ca~rstr"~tctiol~ has defined by applicable la~v~ andlor operation of
tl~e Project, i~rcl~~d~t~g, v~ltholrt lrrnrtatra~r, a~~y at~d all p«blic ~~oz~~s has defined by applicable
la~~~, tes~~It or arises Irr airy ~~ay fi'alr~ airy of
tl~e fallowi~t. ~i} fire ~rot~catr~~alia~ce b~ the
De~lelapel~ ~~itll any applicable iocai, state andlor federal la~~ or I'eglrl.tiarr, i~acluding, ~vitho~tt
lit~titation, arry applicable federal andlor• state labor la~~s ar• reg~rlatior~s ~includi~rg, ~ritl~out
llt~ltattolr, if pplieable, the regrrirelnerrt to pay state atrdlar' f~der•al pl•e~ailin ~~ages~; ~ii~ t~xe
llnpletnerttatton of ectron 1'~5 ~ of the Labor' Cade andlor• of Davis Bacorr, as tl~e sar~re Irray be
arrrended ft'orri time to time, or' airy other sr~nllai• la~v Dr• regulatio~r, andlor viii} failure by the
Developer' to provide any required disclosut•e or ide~rtificatiotr as 1•egr~ired by Labot• Code
Section 1781 arrdlol~ by Davis Bacon, as the sane rrtay he arnerrded f~•ot~l ti~~e to til~re, or" any
atlrer similar la~v ar r•eulatio~r, 1f and only i~' the representation acrd ~~arrar~ty provided by fire
Agency to the Developer in this Section ~ 11,1 remains tare, correct acrd cot~plete in every
respect, it is agreed by the parties that, itr cot~t~eetion ~vith fire de~e~optrtent and carrstr~tction has
defined by applicable ia~v or regulatiarr~ of the 1'1•o
ject# Incl~~drrl, ~~iti~aut limitatia~r, a~r~r artd all
public ~~orl~ has defined by applicable la~v or regulation~~ the Developer shall bear all risks of
paylrrent or ton-payment of pr•e~ailing ~vages ~trrder' applicable federal, state and local la~~ ar"
t`egrrlatron a~ldlor• the itr~plet~rentatiarr of Labot~ Cade Section 17S 1 andlor by Dads Bacon, as tl~e
same Inay be arrrended from time to tirrre, andlor at~y other' slrrrilar 1a~~r or reulatiarr, "rncr•eased
costs," a used irr this Sectlo~~ 311.1, shall have fire tneat~it~g ascr"ibed to it in Lobar Cade
Sectio~r 1751, as the sarrre may be at~rer~ded from tine to time. The faregai~rg it~del~rrity shall
sur'~ive terr~nrrratlon of tills Agreerrretrt acrd shall cantll]lte alter con~pletiotr of fire constt{rtctiol~
and develaprrrerrt of tl~e Project by the Developer
1~, Liens acrd Stop 1~oticcs~ Fr'orrr and aver t1~e Closing far' a pa~•tie~~lar Phase acrd
during fire col~structiorr of such Plrase, tl~e Developer shall ~tse all reasonable eflai•ts to not allow
to be placed orr s~lclr Phase or qtly part thereof airy lien or stop notice if a clair~ of a lieu ar• stop
notice is given or recorded of
fectit~g any Phase of the Developer' 11npravemet~ts or• any Phase of
tl~e Site ar any por'tior~ tlrereaf by r"easor~ of Develapel•'s pI•edeveloprrrent, developrrrent andlor
cot~str'uctiorr acti~rity, tl~e Developer shall ~vitlrtt~ thirty ~a~ days of such recording or• ser•~rice ol•
~vitlritr eve ~5~ da~Ts of the Agetrc~='s det~~at~d ~~rhichever last occurs:
~a~ pay acrd discharge the same; or
fib} affect tl~e release tlrereaf by recording acrd delivetiir~g to the Agency a
s~trety bond insufficient forrr~ and at~ot~nt, or o~her•~vise; oti
39
DO COCI1 ~I~ ~~74~131~~~~7~-~0~ ~
~c} pr'o~ide the Agency ~~itl~ ather assura~~ce ~~hieh the Agency deems, in its
reasor7able disc~'etian, to be satisfaetar'y far` the payment of such lien or bonded stap notice and
fay' the fill ar~d ca~~tinuous pratectiar~ of Agency fram tl~e effect of such lien ari bonded tap
r~atice,
~3. ~eleasc of o~l~~~rrcfio~~ n~e~~a~~t~, Promptly aver' corr~pletiat~ of ai~~ Phase of
tl~e Develaper ~~~pra~el~er~ts ire confarrnrty 4vrtl~ thls Agreement, the Agency shall f~#r'r~isl~ the
De~Feloper ~~ith a "Release of ~anstr#uctian averlar~ts" far' such Phase, srrbtar~tiall~r ire the faun
of A~tacl~tnent ~o. ~ lYereta which is irlcor'porated l~ereitl by reference, The Agency shall nat
ur~reasanably ithhald any such Release of oi~str'r~ction a~enat~ts, Tl~e Release of
ot~struct~on a~enarits shall be a eanclusive dete~'rninatrorr of satisfactory co~n~letia~~ of the
applicable Phase of the Developer' Irnpra~'ernerlts and the Release of anstl'rretron a~erlai~ts
shall sa state. Airy pa~~t~' then a~~riin ar' tl~er'eafter p~~rcl~asii~g, leasing ar ather~ise acq~rrr'irrg
any ir~tet#est ire s~~cl~ Phase of t1~e bite shall not because of sucl~ o~~e~'ship, prr~'chse, le~.se or
acquisitia~~} inerrr airy ablrgation or' liability ~~iader this Agreerner~t except for tl~ase car~tii~uiri
co~ei~ai~ts as set fa~~h in Section ~a~ of this Agreeine~~t as they relate to such Phase,
If
~l~e Aer~ey ~'e~uses a~' fails to ~'~rrt~ish a Release of o~st~~rrctia~~ ~ove~lants,
after written request fi'ain tl~e De~elaper, the Agency shall} ~~itl~ir~ tl~iity ~3a~ days of ~rittel~
request tl~er`efaa#, pra~ide the De~elaper` ~~itl~ a ~z"itte~~ statemer~~ of the r+easons tl~e Agency
ref~~sed or famed to frrri~ish such Release of or~sti'~~etion a~enants. The stafetnent shall also
contain the Agency's opir~ia~~ of tl~e actio~~s tl~e De~relaper' inust tape to abtair~ s~iel~ Release of
~ot~struction ~o~et~ai~ts~ Yf tiae Aget~ey shall have failed to pra~ide st~cl~ era"itten statement
~vithir~ s~~ch thirty ~3~~ day periad, the »e~eloper4 shall ~{et~e~~ its request and if tl~e Agency fails
to f~~rr~isl~ either such Release of ~or~structiar~ a~er~az~ts ari a ~~ritten statement of reasons that
such Release of ot~structia~~ ~a~enants mill not be pro~i~led ~~itl~in air additial~al period of ten
~i~~ days after r'ene~val of the ~'e~uet by Developer, the De~relaper's canstructior~ eovenat~ts
shall co~xcl~~sively be deemed satisfied ~~ith r'espcct to srrcl~ Phase as if the Agency had iss~red tl~e
Release of Construction o~~enants, A Release of onstz'rretlor~ ~avetzants shall clot constitute
e~~rdei~ce of cornpliance ~~~th ar sat~sfactlor~ of any obligation of the De~relope~' to at~y balder' of
at~y ~nortage, or' arly rnsurea' of a mortgage securing rnoney laai~ed to fi~~a~~ce the Developer
~inpr'o~e~~ents, o~' any part thereof, Tire Release of otltrrrctrar~ a~enarits is not a notice of
cainpletiai~ as ~'efer~'ed to in Section ~a9 aftl~e ~alifa~•x~ia i~il soda.
3~4, Agency I'irYancial Assis~ar~ce.
~~,1 ~ell~~' Lo~r~ Based an tl~ Budget, Agency hereby agrees to loam to the
I)e~elaper', subject to tl~e ter+lns and conditions set for~l~ ~vitl~in this Agreeinent and tl~e
documents and ir~str€unents execrited by the De~elaper its coi~i~ectian ~~ltl~ this transaction, the
amount of Ten illior7, fight ~u~~d~'ed Tl~ousai~d I~allars ~ I ~,Sa~,00a} far Phase R~ 1 the
"Phase R-1 Agency Laai~~'} and ~"oui' Nlillian, Seen Hundred e~ei~ty Thausarrd I~allar's
~4,?7~, aa~} far{ Phase R~~ ~tl~e "Plzase R- Agency Lawn"~ a~~d one ~illian~ Pipe Hundred
Thousand ~]ollars ~ 1,5~a,a~~~ for' Phase ~ ~tl~e "Phase PS Agency Loan"~, The Abase R» 1
Agency Loan, the Phase R- Agency Loan, aid the Phase PS Agency Loan slrall be adjusted
up~~ard andlor' do~~r~~~ard if and to tl~e extent the Fatal >~e~?elopment Costs set forth in fhe
Revised Budget ~ar'ies frarr~ tl~e ~`atal De~elopn~ent fast set forth ire tl~e B~~det" Tl~e Phase R~ 1
~a
DCSa~ll~i~~b?3v~~1~~Q~7~-~~~~ '
3
Loan, Phase Laa~7 ar~d tl~e Phase P Agenc~? Lawn al'e san~etitrles collectively 1'eferred to
llel•elxl ~ t~le "Agency Laa~~s,~~
1~,~ Repayme~~~ of #lxe Ae~~cy Laa~~s, The Phase R~ 1 Agency Loan, the
Phase Ael~cy Load at~d tl~e FS Agency Laan shall each be e~tde~iced ~ a separate
Prolnissal'y Note, and tl~e De~elope~''s abllgatloz~ to 1'epay caclt such Agency Loan shall be set
fal•th z~~ such P~;o~~issal'~~ Nates ~tl~e "Plraso ~«1 Pralnissot'~ Nate" "Phase R-2 Ptio~~~issal* Nate"
and the Phase FS Pro~~isary Note or, callecti~rely fhe "Pron~issary Notes"}. The Agency Laa~ls
shall be fi~~~ded solely from t~or~eys fl'orr~ a Lo~v and Moderate lncotne Hausi~~g Fund established
p~rrs~~ant to Section 4, of tl~e alifol'nia Health and Safety fade, all ~~1#11~1~ the ~~eaning of
Sectloll 17~~~c~~4~ ~f the Callfal'~~ia Labal~ bode. apltall~ed tel'rns It] this ecflDn 1~,~ nat
defined l~ereiri are defi~~ed irl the Promtssor'y Nate.
~a~ ~'c~se ~'~•o~~~i~so~•~~ ~~o~e a~rr~ ~'~t~se ~R ~'~~n~~rr`ssa3•~~ ~~~~e
~a~~a~~~ ~'~Aa~rr ~esrc~t~a~ .~ec~r~~*~ Tl~e Phase R~1 Pramissat'~ Nate at~d Phase R-~ F~•atnio~'y
Note shall he payable fl'at~~ fly pel'ce~~t ~50~I~~ of tl~e "Residual Recelp~s~~ of the Phase of the
Rental Po1'~Ia~l of the Pl'O~ect to ~hlcl~ sl1Ch Pl'omis~ol'y Note relates, after payn~e~~t
~i~ ~peratlr~ expenses, at~d ~11~ Debt Se~'vlce allacable to suci~ Phase of tl~e Rental Partiot~, ~~ntil
s~~ch PI'olnissory Nate leas been Paid in. fill; p1•o~ricied, hau~e~er, that if such calculation results in
a negative n~~~nbet• far any given year, Residual Receipts shall be ~e~•o for that year, Its tl~e cent
that tlae De~elopez' obtains atl~er appra~ed finat~cln that also req~ziz'es payme~~t fratr~ Residua
Receipts, t~~e Residual Receipts shad be allocated to rep.yn~er~t of bath for ally loans i~~ a~~
atr~aunt proportionate to the relatlr~e att~aunt of s~~ch laat~s, sa that eacl~ sad laal~ receives a
prapartional sl~at•e of a fatal of tea mare tl~ar~ fifty per•cerrt ~Sa°I~} of tl~e Residual Receipts foa'
such Pi~ase of tl~e Rental Pol•tiox~ of the PI•oject its each year.
~b~ ~'~~~se ~t'o~t~~sso~•~f safe, Tl~e Phase F Pra~~llssory Note is
payable after close of escra~~ of all of tie Far-Sale Hnits from te~ity-#i~c perce~it of the
t~et proceeds of sr~cl~ sales after Developer' has received a ret~11•~l of t~~el~e percent 1~°Io} a~x
Casts, as trrol'e pat•t~cular~ly set for~tl~ ~n the Pease FS Pro~~issory Nate. 1r~ f~le e~ret]t that s~rch
a~1~au11t is XiDt sL1ff~ICler~t to p~~' the f~Zll a~~a~~rlt ~f Phase Ptomissar'y Nate, the 1'e~r~all~ing
balance of
tlae Phase A~•a~r~issal'~ Note shall be reduced to ~e~•o ~~po~~ tl~e ~e~elapel•'s pa~~nent
aftl~e fo~•egair~g a~~~a~~nt to tl~e Agency.
3~~,~ ~.epar~iirg Requl~'elYler~~s #ll ~exx~al Po~'~Ioti of fhe Pr'ojeet~ itl~
~•espect to each Phase oftlre Rental Por•tior~, the Developer shall a~~~nually, QI] or' before April bath
of each year, ca~r~r~encing In the year after the issuance of the fi~'st cet•tlficate of acc~~par~cy far
such Pl~ase~ submit to the Agency a~~ a~~dited financial statet~~er~t and a Residual Receipts Repa1'~,
irl the forrr~ attached hereto as Attacl~met~t No, 1 ~ at~d incorpoaiated herein, ~vl~ich shall p~•o~ide
tl~e basis far• the Developez''s payn~erit of Residual Receipts to tl~e Agency ~~itl~ respect to such
Phase, Tl~e Agency executive Di~•ectol• may ~~rai~e the requirerrlents of this section ~ 14.E irl tl~e
event tl~e De~elaper• timely s~rblrrits to the Agency a 1'epol~t pz~epared fo1• any athel• federal, state
or lacal a~~er~~t~er~t agency that car~tains the i~~farlnatiot~ 1'equil•ed by Attachment Na, 1 D. The
Residual Receipts Repa1'~, ar tl~e ~•eport accepted by the ~xecutlve Director in lieu of the Resid~~a
Receipts Repar't, in~~st be prepared ot{ audited by an entity ii~depet~dent of tl~e Develapet' ix~ order
to satisfy tl~e re~uiremer~ts of this Section 31 ~,3,
41
D~CS~C114~~~73~~131~~027~-~~01
3144 ~eporttrr ~et~~~irertrerifs for tlae Po~~-dale Portlo~r of tt~e Project,
i#hin ot~e ~~u~adre~ t~~cnty ~I~o} dais aver the clase of escrow of tl~c sale of the last Foy"ale
knit the De~claper shall submit to the Agency a financial statet~rerrt setting far~h the profit
haritr Amount, arrd the Net Profit, ~•ass dales Pr"o~eec~, ~ar~-ale i~~lit~ ~cvelo~trrent opt,
a~~d Por" dale Units De~elaptner~t Prafi# ~~pon ~vl~icl7 the Profit hay"i~~ Ar~~aunt has been
calculated has thane ter'r~s ar"e defined in the Plrase F Pro~~issaryNote,
314,5 ccur~~ of Aerrc~r Loaxa. Each Pr"arnissox°~ Note shall be secu~"ed by a
deed of trust to be r"ecarded as an encumbrance agai~~st tl~e applicable Phase to which sr~clr
Prarnissary Note relates, l~icll deed of t~~r~st shall be substa~~tially its tl~e farm. attached hereto as
Attachment No, 9 attached leer+eto, ~~hich is inco~;por~ated herein ~tl~e "Agency Deed of Trust"},
~'he Agency acl~z~o~~ledcs #l~at rt rrll be neces~ar"~ #o subordl~aate e~cl~ Agency Deed a ~'r~~st to
deeds of trust sec~z~"i~~ atl~er sa~~r'ces of ~nanci~ig abtair~ed by tl~e 1~e~elaper", TI~e ~~enc~
~ecutive ~lr'ector" 1s ~~l~~la~"iced to excc~rte and aid all docurr~e~ats t~cce~sar"}r rrl ol'de~~ to
s~~bordit~ate each Agerlcy Deed of Tr"ust, b~xt orll if at~tl t~ flle cx#ent s~~ci~ srrba~•din~fiar~ is
~"easonbly necessar~~.
314,E Dis1~u~~selr~e~rt of the Agency Laa~r, ~'lre proceeds of each Ageney Loan
sl~aii be di~b«r"sed far• I~a~~d and sad. casts of canst~"uct~on fay" tl~e applical~lc Phase to ~vl~icl~ s~€cl~
Agerlcy Loan relates, ar~d shall be disbursed to De~elope~i's institirtiar~al canstr~~ctiot~ leader far"
s~rch Phase pro rata ~~ith #l~e pr"oceeds of tl~e car~str'~~ctlat~ laai~ ~s~~hect to #l~e appr~o~al of s~rch
institrrtianal cot~structio~~ lender"~ at such ti~~.e as Agency and s~~ch i~~stitartianal canstr"~~ctian
~ende~" appr~a~es such disbr~z~se~rrent ~rpon completion afa lime iterrr ~zr~deri the budget,
315, ~orr~e~iryer Assistance,
~Iomeb~r~~er Assistance Laarl. Tl~e Agenc~r hereby agr"ecs to loan to each
gl~alified ~rloder"ate Incar~e Horrreb~~yer of ate Affordable >~or"ale Unit the amount of Tl~ir"ty
T~~o~~sand Dollars {$~0,000~ ~eacl~, a "IIarl~eb~~~et" Assistance Lawn"}, subject to tlYC terrr7s acrd
carrdi#ians set for~tl~ in this Agreement, and subjec# ~'ur"tl~er" to tl~e terns and. cor~ditio~~s set fartl~
~rthrn the dac~~~nents ar~d rnstru~~nents executed by each U.ornebuye~", ~ncludrrrg the PIornel~uyer
Loan Agreement, all ire cotr~pliar~ce ~~ith applicable la~~s acrd reg~~latiot~s, ~'he Agency slrall fu~1d
each ~Ion~elauyer Assistance Laan solely from moneys fra~~~ a Lo~~ a~~d Moderate Ir~corne
Ha~rsing ~'~~~~d established p~u's~~at~t to ectiot~ 33334,3 ofthe alifor"nia Health and safety ~adc,
all ~~i#hin tl~e mea~~it~ of ectior~ 172a~c~~4} of the California Labor bode.
31,Z repayment of ~ornebrrye~~ Assts#airce Lo~x~, Loch I-Iamebuyex4's
obligation to repay the Honlebrr~er Assistance Laan si~all he set far"tl~ ire a. p~~on~issar"y Hate
subs#arrtially i~~ the Farm attached to tl~e Hamebr~yer" Loan Areemen#, 7`I~e ~omebuyer"
Assistance Lawn shall not accrue intet'est u~~til and l~t~less an e~~er~t of acceleration acc«rs under
the terms of the I~arneb~:yea4 Loan Agreement, its ~~hich case an inter"est r"ate o~" equity share
arrraunt shall apply as p~•a~rded rn the Ho~r~ebuyer Loan Agr'een~etxt~
315,3 ecuri far nmcbtt~rez~ Assistance LoaiY, each pramissar"y Hate
e~iderrcirrg a Harnebuyer" Assistance Loan shall be sec~~red by a deed of tr"ust to be r'eco~~ded as are
errcurrrbrance to the applicable Affor"dable ~or~ale Unit, substantially in the form attaci~ed to the
42
D~~Sa~1~~~~67~?131~0~~?~-000 ~
Ha~nebuyer• Loan A~•eet~er~t, ~'he pr•ior•ity of such encumbrance shall ~be j~~nriar ar~d subordinate
only to the approved first lien as further provided in Sectiat~ 3I5.5.
31~,~ D~~buz~se~~~en# of Ha~~~ebye~• Assist ace Load; oriditrarls P~~ccee~~~
~'i~e~~eto; ~eveluper's max;~~eting, Disclosu~~~ a~Yd Housixxg ou~~se~iiY, Ire con~~ectia~a ~vith
tl~e I~~•st sale of each Affordable For•~Sale Unit, tl7e fill gaunt of the proceeds of each
Han~ebuyer Assista~~ce Laat~ shall be disbursed ~y tine Agency into the escro~v established by tl~e
Developer and the Horne~~~yer folk such rnrtral s.le at~d conveyance of eac11 applicable
For-Sale Unit to the Hat~reb~ryer, Disburserne~~t shall occur• an demand of the escro~v off
~cer~, but
tl~e Agency shall be p~•avided riot less than tet~ {10} days ~~atice of the stirnated closing date, and
all conditions precedent to the Age~~cy's obliatiar~ to disburse s~rcl~ mo~~ies shall lave been
satisfied by Developer ~at~d tl~c applicable Har~~ebuycr~ pr•ior~ to escrow officer's de~t~and, Tl~e
proceeds shall ar~ly be expended ar~d pall to find a portion of tl~e applicable Hotr~ebuyer's casts
of acquisition of the Affordable For~ale Unit ire order4 to take such uart a~~allable at ate
Affordable ~o~~sin Cost.
~a} The Agency's obligation to disburse proceeds of the Hatrrebuyer
Assistance Loan is expressly canditia~~ed ~~pon a~~d will occ~~r as soon as practicable after each
Ha~~~eb~~yer's execution at~d delivcr~~ of tl~e Hameb~~yer• Laan Ag~•eer~rent including any other
docutrrents req~~ired thereunder} ar~d ire cor~fo~•mity with applicable lames acid xegr~latiot~s and all
submittals provided thererrtlder, acid such disb~~rsemerrt shall occ~u• co~~c~~rrex~tly ~vitl~ tl~e
~•ecordatian of all dac~~tner~ts ~•ecl~~ix•ed to be recorded at closix~g p~~~•uant to the Hot~eb~~yer• Laat~
Ag~•een~ent and attachrrrer~ts tl~ereta, a~~d close of escrow for dispasitiot~ of such Affordable For_
dale Unit pl~rs~~a~~t to the terms hereof,
~b~ Develaper• shall be responsible at its sole cast a~xd expense far
~r~arketing, hausrrig cout~seling, disclasur+es, and sale for• a~~d related directly ar indirectly to eac~~
ar~d all Affordable For-Sale ~~its to each and all prospective ~or~lebuyers.
~i~ Ire cot~t~ection tllere~vith,l)eveloper• shall in any marketing
effort relative to tine Affordable Far-Sale Units fully disclose its obligation to provide tl~e
Affa~•dable For-dale Units ar~d each prospective Hol~ne~uyer shall be pravide~l a tr•~~e and
coxx~plete copy aftlle form oftl~e Homebuyer Loan Agreei~lerit, rid all attacl~t~rents thereto
~ii~ Develape~~ shall ca~zse to be provided to each prospective
Han~ebuyer orie-on-one haii~n counseling coricer•ni~~g such pi•aspectrve Hoi~lebuye~,'s potential
purchase of an Affordable ~ox~«Sale Unit, in partic~~lar tl~e prov~sior~s relating to the lo~~gMtern~
affordabiiity cove~~a~~ts and restrictions oz~ resale applicable to s~~ch Affordable Fai•-dale Unit,
~'he one-oil-ot~e caut~selir~ shall be videotaped and a copy of the videotape s~all be provided fo
Agency staffan a DPI) ~vithrn ten X10}days after the co~rnseling sessiol~.
~ili} T~~e form of Developer's p~~rcl~ase and sale ar•eeirrent,
marketing materials, draft disclosure dac~rments, ar~d scapelpersannel~method for housing
cai~nselir~g to and for prospective Hotr~ebuyers ofAffardable ~o~i»Sale Ui~rts shall be provided to
the Agency ~xecirtive Director far i•evie~v and app~•oval pi•iar to the issuance of the first building
pei•init for the pr•a~ect~
f
~~~OC~I~~~67v~ (240272-~0~ ~
{i~} In con~~ectioii with the Developer's n~arket~rig effo~~ts and
its obllgtlon to provide hausirig counseling acid apprapriate disclosure #o prospective
Hornehuyers of Affordable Fo~•»ale Uiiits as descr4ibed in subsection above, the Agency
ackrio4~ledges tlaat it will assist the De~eloper~ in a Irriiited role in that the Agency staff will be
reasonably available for reasonably limited tiriies to receive and answer questions of prospective
~~anibuyers, bit Drily as to those p~~ospec#ive Horriebuyers wlia leave been pre~io~~s~y screened
and e~alua#ed by the developer for its agents as a Moderate Iricorne Household nieetiri the
criteria established lierern as potet~t~ally ~iralified to p~~~~cl~ase an Affordable For«ale Unit as
well as revie~~red preiimit~arily as to acid regarding creditwartliir~ess at~d eligibili#~ to apply for
and obtain first Iieti mortgage fo purchase ara Affordable For-dale Unit; nothing in the
foreolri statet~~ent r~egardrrig the Ag~~cy's lirrrited role iti I~o~~sir~g couriselrng sliali obligate,
invalve, or require Agency {or lty} or atiy of their staff, consultants, o~~ counsel to assist ire tl~e
ti~arketit~, lousing co~~tiseli~~, disclosr~re, or sate of at~y Far-dale Uriits to any prospective or
act~~al buye~~, or selection of s~~ci~ bityel', ~~~hicli is acid s1~aI1 ~~er~~ain the »e~relope~i's sole Iegal,
car~tractuai, at~d finatlcial respoi~sib~i~ty,
{c~ The sale of each Affordable Far-dale Uriit ~ the Developer to aii
eligible Horriebuyer` sliali be subject to the satisfaetiot~, ar waiver by the Agency ~xeeutive
Director of tine following conditions p~`ecedent nuiribered ~i} tix~`ougl~ {x) inclusive:
{i~ ~ss~cra~~or~ ~'s~ P~~rs~~a~~t to the regE~ireinents of
section 40Z{b~ of this Agree~r~ent, the Developer shall have {or ca~~sed to Dave} prepared,
approved, exec~~ted, for~~ed, and caused to be recorded tl~e Declaration of o~e~~ants, ~oriditioi~s
acid restrictions for tl~e hai~.eow~ie~•s association {tl~e "Association"} for the For-dale Portion of
the Project {tl~e ~`Associatiori ~R"~ p~~ior to issuance of tl~e firs# certificate of occupancy
{telr~porary or perrr~arie~at} for any Housing Uri~t {wl~e#her or nat such ~otl~n t~nr# is restricted
pursuant #o the teriris ofthis Ar•eeiiient~ ~itliin tl~e Fo~4~ale Portion ofthe Pt`ojeet.
{ii} .~~o~~dab~e ~o~~ySa~~ ~J~i~ o~~~~~~~e~~, Tlie applicable
Affordable For»ale Unit shall ha~~e been co~npleted, as e~vide~~ced by issuance of the certificate
of occupancy for s~~cli Affordable Far-dale Unit
{iii} ~scr~~i~tt, Tlie Hon~ebliyer~s purchase oftlxe Affordable ~'or_
dale Unit wall be transacted tlirougia ate escrow with a~i escrow holder satisfactory to #l~e
De~Telaper acid Agency E~ec~~tive Dir`ector~ hosts for s~~cl~ escrow shall be cliare to at~d
deducted fi~ani the proceeds ofthe Plarnebuyer Assistaxice Loan.
{iv} .~s~~~oi~i ~t~s~~~t[c~r~~~~. The Agency >}Keer~tive Dirac#or for
his or' liar designees shall Have approved the instr•uctfotis fog` tl~e Hon~ebuyer's esc~`ow. It is
anticipated that the Ager~cy Executive Directo~k for his or liar desig~iee} will approve such
instructtol~s within fifteen { 15} days after receipt of a cor~ple#e package of escrow instructions
and s~ifficietit evidence indicating that the selected Harnebuyer• satis-~es the requiieii~ents of this
Agieerrient,
.~or~r~~~r,~~e}~ ~oa~r ~~~ee~~te~~. The Agency atld #l~e
Harnebuyei4 shall have entered into a Hotr~el~uyer Loan Agreement and all related loan
doci~mer~#s and such ~omeblryer Loan Agreei~ient and such other ac~~~~net~ts shall have been
44
~o~so~~~~a~~~~~T~ ~~~oo~~~-~~~i
dc~Iy exec~~ted, attested, natarize~ and deli~eted to the esera holder itl~ appropriate title and
escr;o~v instr~~ctiat~s and s~~ch Hotnebuyer4 Assistance Laar~ shall be ready to close sub
jeet to the
Agency finding the praceeds of such Homeb~~yer Assistance Lawn it~ta escra~~} cat~cut+rent ~vith
tl~e ~e~eloper's escro~~ to sell the AffardableFar-dale Unit to tie Harneb~~~er.
~~ri} ~~s~r~~~a~rc~~ The Agel~cy sl~a~I have received sufficient
evidezice of tl~e iss~rance of a l~onleo~vner's insurance palicy ~~ith a ~~aranteed replacement
pra~isiat~ far the Affordable Fora„dale Unit and a lerider~' loss payable er~darsernet~t in its Farrar,
~~11~ ~I~fo~~c~ai~~~r a~r~ ~er~~~r~~e~rr~~~~s, The ~.geney
Execiti~e Directar shall Ise satisfied that tl~e ~arnehuye~• meets tl~e applicable Moderate ~rrcame
r~equiremer~ts of tl~e CRL a~~d that tl~e N~ot~tl~ly Hal~sin Cast for tl~e Far~ale U~~rt is ~~o greater
ti~at~ an Affordable Housing Cost,
~~ri i i} ~e~~~es~~~atio~rs a~c~ ar~~~a~~~r's, The represet~tatians a~~d
~~arrantres of tl7o De~eiopelF centai~~ed in this Arcernent si~all be carrect as of the ciase of eacia
such escro~v as tl~augh trade on ar~d as of that date and the Agency ~xec~~ti~e Drrectoa4 shall
l~ar~e ~~eceived a certificate to that effect signed by tl~e ~e~eloper,
~ix~ ~ ~~f~r~~~, ~o Default Icy tl~e ~e~elaper shall have
acc~~rred r~itll respect to Phase and tea event shall Dave occlrrred ~vitll riespect to Phase ~
v~l~1Ci~, ~vitll the gi~tng of
r~attCe ar tl~e passage of time ar bath, ~vould cat~stitute an Defa~~lt b~
the Developer v~itix respect to Phase F,
31,5 irl~ard~riatior~, The deed of trust seclrrrn the Hot~~ebuyer's repayrr~e~~t
of tl~e Harneb~~yer Assistance Laar~ xna~ be rr~ade subardina.te only to tl~e deed of trust to beheld
b~ the first iie~~ Ie~ider that is approved Icy tl~ Agency p~~rua~it to tine Homebt~yer Loan
Agree~r~et~t. The deed of t~~r~st secur~ir~g the Hat~~ebuyer's repayrl~erit of the Harnebuyer
Assista~~ce Laar~ si~all be st~bardtt~ate to rya other lien{s~, except as pra~ided its tl~e Harneb~iyer
Loan Agreement or as otl~er~ise expressly approved its ~~rrtin by tl~e Agency ~xecutrrre
Director in leis or her' sole at~d absatute discretion,
315,b Assun~~~tiar~. ~Al~e ~o~nebuyer Laar~ ar~d Ha~nel~t~yer Lawn Agreement
shall be assl~rnable b~ eligible a~~d qualified s~~ccessars and assrgns of the ~Iorrreblryer ~vl~a are
approved its ~vritin by tl~e Agency p~~rsr~ant to tl~e terms of tl~e Hatnebuye~~ Loa~~ Areen~er~t,
3~~, I'i~aanc~l~g of ~~~e Deg?elape~i ~~Yip~~o~F~~e~~ts,
1~,~ Ap~~~'o~Tai ~irla~~c1I1, As requi~'ed l~ereir~ and as ane of Agency's
Candition Precedent to each Closing the Developer shall s~~bmit to the Agency ~vider~ce of
Canstructian financing acid ~ider~ee of Perrnar~er~t Financing for the Rental Portion of tlYe
Project far a Phase ox~ or before tl~ date set forth in the schedule of Perforrnarice, Tl~e Agency
shall appra~e a~{ disappr~o~e suci~ ~rridet~ce of Canstr•uctian Fir~ancir~g a~~dlorF ~idence of
Perrrranet~t Financing far the Rental Partian ofthe Pra~ect far s~~ch Phase ~~ithi~~ fifteen days
of receipt of a carnpiete s~rbrnissiot~. Approval shall nat be it~reasanably ~vitiheld ar
conditioned, ~f the Agency shall disapprove any such Erridence of Constructiat~ Financing
a~~d~or{ ~idence of Permanent Financing for the Rental Por~tian of the Project, the Agency shall
da sa by atice to the De~eloperi stating tl~e reasons far such disapproval and tl~e 1~e~elaper shall
~5
DD~s~CI~ ~006~3~~i3120~~72-~0~1
prornptly obtain and submit to the Agency new Evidence of ot~structiarr Financing andlor
Evide~~ce of Perrnanen~ Financing for tl~e Rental Potion of the P~io~ect for such Pl~ase~ as
applicable, Tl~e Agency s~~all approve or disapprove such t~ew Evidence of o~rstr~~ctiorl
Financir~ a~rdlor Evidence of Pet•n~ane~~~ ~'inatrcit~g for ~lre Rental Po~~tion of the Pr;oject in the
sane rrranx~e~i and wrtlrrt~ the same tunes established irl this ectlar~ 3 i ~,1 foci the approval or'
disapproval ofthe Evidence ofot~tructron ~'rna~xctng and Evlde~~ce ofPerrrranent Fit~at~crrrg far
the Rental Portion of tl~e P~•oect as rnitlally submitted to the Agency, The Develaper shall close
the canstr;uctian por~ia~i of the a~~~o~ed fit~at~ein canc~zrr~et~tly ~~ith fhe losing for slrch Phase;
provided that tl~e closing of approved fina~~cin may be delayed pursuaz~t to ectton ~~7 of this
Agreeme~~t. The parFties ~~nderstand acrd ack~~owledge that the Developer may propane the use of
equity finar7cir~g with rra debt fit~at~cin as its const~~uction firrarrcir~ far Phase F,
1G,2 ~`a~ r~edit ~~uity, The follawit~g r~equir~ernerxts tnus~ be satisfied in
order for the equity fina~~ci~~g far Taa~ credit fi~r~din for each of Phase R~ 1 and Phase to be
approved by the Agency purs~~atrt to this ectior~ 1
~a} Tl~e Developer shall use good faith efforts to solicit rlo less than
two co~npetrtive brds f~~oln Tai redlt investors for each of Phase ~-i at~d Phase R- of the
Project a~~d shall have selected as the investor Limited Partner for each Phase the investor
offering overall the ~rrast beneficial rates and terns, as reasonably approved ley tl~e Agency
Executive Director, The Developer shall submit complete dacurner~tation relating to each such
cotnpet~t~ve sal~crtatlorr to the Agency, including true copies of tl~e imitation to bidders acrd each
fk~ll bid package s~~brnitted by b~ddrrr Tax credit investors, in order to per4~~xit the Agency to
dcterr~irle that tl~e Developer' lras selected its investor Limited Partner for such Phase that has
offered fhe most beneficial terms of financing and Tax credit equity as reci~~lred by this
Aree~net~t. All such documentation shall be subrnrtted no less than forty-five ~45~ days prior to
losing for tl~e applicable P~iase.
~b~ Tl~e equity ir~vstrne~~t of the itrvesto~4 Limited Partr~e~i~s} of the
limited partnership foci each of Phase R~l and Phase shall Trot be less than the appa~oa~it~~ate
prevailing pr~lce far Tax credits for` srrnilar developrnelits at r~cl~ tune, talcir~g into cansideratio~~
all relevant factors s~~cl~ as tinning ofreciuired pa~yrnents and a~naunt oftlre Tax rFedits,
~c~ Tl~e ide~ltity of fhe i~lvestor• Limited Pairtner~~s~ shall be reasonably
acceptable to the Agency.
~d} Developer oti its affiliates ~na~ receive a developers fee of ~~p to the
rnaxirn~~rn amor~nt permitted by TA for each of Phase ~-i at~d Phase R-2, Fifty percent
~54°Io of t~le Developer Pee for each of Phase R-1 and Phase R-~ rrray be disb~~rsed o~~ly after
and cand~ttarled a~pat~ cotnplet~on of the construction of such Phase, subject to Developer's
elrgibrlity foci issr~ance by the Age~7cy of the Release of Constr~~ctian ovenat~ts fo~4 such Phase,
~1G,~ Regrii~'e~i 11~I~1I~~lUxlS. In connection with each of Pl~asc R-1 acrd Phase
R-~, Developer shall s~~brnit tl~ie following documents as evidence ofTax credit financing:
~a~ The Pa~~tncrship Agteexnent ar eq~~ivalent funding committner7t
letter foci sr~ch Phase fi~on~ the Investor ~?imited Partners} which demonstrates that Developer leas
4~
DDCSQCII ~i~~6~'3~T1~12~0~7~-~~0 ~
f
sLrffiClent fLirlds and camiitted capitaUe~uit~ far carr~mer~cement thraugl~ corr~pletian of
constructioi~ of such Phase, and that such funds have been camirrltted to caristr~~ction of the
Phase.
A copy of the prelirninar•~ reserRvation letter fram TEA for such
Phase, r~otif~in Dee}apex' that are allocation of Tai credits has been i•~served fatF the
const~•~~ctior~ of such Phase of the ~e~eloper ~r~provements, and f
~rr'~het• dac~ztnet~tat~o~~
d~~rrarl~t~;~tlt~g ~~~t ~l~er'e hie not ~~ei~. ~Z~~ n~a~er'1~1 ch~r]g~~ ~a infa~{i~latlo~l ~~'oVlC~ed
Developer in the application sr~bmitted to TA relative to such Phase ~ar• dac~zrrrei~tatioil
demai~strating that s~rc}~ material chaises have beery approved b~ T~~l}, and that if there are
r~aterial changes t}~e~~ such il~for"rnatrarl wrll be p~•avided to T~ ~ar~d tl~e Agei~c~~i
1G,~ NO ~1~cUI~lb1'~IIC#',s ~xcp# aI'tgages, ~eei~s a T~~irs~, o~~ ale tad
lease#~~c~~ fo~~ ~]eve~opiY~e~~#. Mortgages, deeds of trust and salelleasebac}~ finai~cing are to be
perr~rtted before completion of the car7str~zctian of each Phase of tl~e Developer ~mpra~Ten~ents
oi~~~ with tl~e ~get~c~'s pria~{ ~vi~itten appra~Tal, which shall not be unreasanabl~? ~vith~eld or
delayed, at~d arils far tl~e p~r~~pase of securing loans of f~~i~ds to be ~~sed far ~nar~cir~g the
acqursrtrat~ of such Phase, canstr~~ctior~ of s~zch 'lase of the Developer ~~~~proveinei~ts ~iricluding
architecture, et~gii~eering, legal, ar~d related direct costs as well as ir~direct casts on or in
coni~ectior~ with such Phase, p~rii~arient ~r~ancing, at~d a~~~ other plxrpases r~ecessary aid
appi~opriate to cannectror~ wlt}~ develapi~er~t of suc}7 Phase ~~t~der this ~.reer~ent, ar~d ot~l~ to tl~e
extent sl~cl~ financii~ is by a responsible fii~ancial }er]dir~g irrstit«tiot~, pei~son or ci~tit~ ors
can~nrerciall~ reasonable terns, The words "i~atTtgage'~ ar~d "tr4ust deed" as used }~ereinaer•
shall include sale and lease~back~ The Developer rya er~ter* rota a cor~ve~~ance for ~na~icing a~erk
the co~npletian of s~~c}i Phase of the Developer ~t~.prave~r~ents without the approval of the
~et~c~~,
~G~S ~a~t~el• ~a# ~blra#cd to Cor~sfrircf Developc~~ ~~n~~z•ove~nen#~, Tl~c
}older of and rnottgage ari deed of trr~st au~hori~ed b~ this reen~el~t shall ~~at be obligated b~
the provisions of
phis Air;e~r~ent to construct or• corr~plete an~~ Phase of the I~evelope~~
Irnpro~?etnents ar ai~~~ portion thereof, ar to guarantee such cat~structior~ ari cair~pletion; nor shall
anal covcr~at~t o~+ and others provrsror~ ire this ~greemer~t be construed sa to obligate such holder,
~Othing 1t~ t}lrs Agreerrrent shall he deemed to cor~str~ze, permit of authorize ar~~ suc}~ raider to
devote the 1te ~OI` at~~ Phase} to ail~~ uses ar to construct at~y in~pro~eirrents thereon, Other tbarr
those uses ar4 i~r~proverr~ents pravtded for or a~~ti~aiiized by this Agreerne~~t.
1~,~ o#rce o~ Default #a Mar#gage o~• Decd off` Trrisf Holders; R~ghf #o
ilt•, with respect to a~l~ rnoi•tage or deed of trust grar7ted by tl~e 1~e~eloper as provided
herein, wl~ei~e~er tl~e Agenc~~ tna~ deliver and notice ar der~and to the De~elaper with respect to
aril breach ar default b~ the Developer in completion of car~structian of tl~e Developer
~i1]prOVeinents, ar• ar~~ other default ~~n~er• this ~greernent, the Agency shall at the same tiil~e
deliver to each holder of record of and mortgage ar deed of trust a~rtho~~ized b~ this Agreerent a
copy of such natice ar deinar~d. each such holder shall ~ii~safar as the rights granted by the
~.er~c~ are car~cerr~ed} Dave the nigh#, at its optran, wrth~r~ tii`ty X30} dais after the receipt of the
notice, to c~xre or ren.~ed~~ or cor~~n~et~ce to cure ar rerned~ and tl~ereaer to p~rrsue with due
diligence the c~~re or rerned~ of ar~~ s~~cl~ default and to add the cast tllereofta tl~e mortgage debt
and the lien of its trlor•tgage, Nothing car~tarrled rn tlrrs Agreeir~ent shall be deemed to permit or
47
D~CDCJI ~~~73ti~ 131~~~~72-~~~ 1
l
autl~arize such holder to ~~ndertake ar colrtir~€~e the cal~structroli or completion of the Developer`
7mp1'oVen~lents beyond the e~te~~t necessary t0 Consel~e or protect the 1lprove~rlel~ts ar
ca~~struction already n~ade~ itha~~t first l~a~rin expressly ass~~lr~ed tl~e Developer's obligatio~rs
to tl~e Agelrcy ~y ~~ritten agreetrlent reasonably satisfactory to the Agency The bolder, in that
evelrt, m~~st agree to complete, 111 the ~~anner provided in tlais Agreement, the De~elopel4
~n~provelnents, Any s~~ch holder properly completing the De~~eloper ~n~pravement shall be
entitled, ~~pol~ eot~plialrce ~vith the requirements of Section ~ 13 of this Agreement, to a release
of Canstr~~ctiolr ovenat~ts, It is tllld~rstood that a holder shall be deemed to ha~~e satisfied the
tlrir;ty ~~0} day titrre limit set for~l~ abase for cam~nencil~g to cure or remedy a De~elae~~ defarrlt
~~lllch requires title andlor possessiol~ of the Site if and to the extetlt arry such holder leas itlait~
s~~c}~ thirty ~3U} day pel4iad carrrr~~enced pr;oceed~ngs to ab~al~r tltle ax~dlo~~ possession and
thereaftexk the bolder diligently pursues such proceedings to calnpletion and cures or re~rredies the
default,
1,fi ~'ai~ure of Ho~der• ~a Caznp~ete Developer Ympr~ovenxe~~~s. In alry case
~~rl~e~~e, thirty X30) days af~el• the bolder of
any ~~na~•t~ge or deed off' tr~~t creating a lien ar
elrc~~lnl~ralrce ~~pot~ the Site receives a Notice from the Agel~cy of a default by the De~reioper its
calr~pletiolr of eot~structia~i of any Phase of tl~e Developer ~rnpz~o~rei~ents ~~rlder this Agreement,
and sr~ch halder llas lrot eel•cised the optiolr to const~#uct as set for;tl~ i~r eetian 16.x, ar if It has
ea~ercised the option but ~~as defaulted hereul~der and failed to tilnely cu~•o sr~ch default, the
Agel~cy may pr~rchase the mortgage or deed of trust by payn~et~t to tl~e holder of tl~e a~~aur~t of
the unpaid rno~~tae or' deed of tr;~~st debt, includirrg pr;i~rcipal at~d interest and all athe~• sr~xr~s
secured by the lnol•tgage a~• deed of trust, ~f the a~~~ership of the applicable Phase leas vested ilk
the halder, the Agency if it sa desires, shall be entitled to a corr~eyalrce from the l~olcler to the
Aelrc~? upa~~ paytrrent to the bolder of a~~ at~aunt equal to t~~e sum of tl~e following,
~a} The l~l~pa~d mortgage or deed of tz~r~st debt at the t~lne title became
vested in the balder` bless all appropriate credits, inoludil~ those resulting fra~rl callectiolr and
application ofrentals al~d other income received d~~ring fareclos~~re proceedings;
fib} All e~pe~ases ~~ith respect to foreclosure includil~g reaso~aable
attorneys' fees;
~c~ Tl~e let expense, if al~y ~exclr~srve of gel~etal o~rerl~ead~, incurred
by tl~e bolder as a direct result o~ the subsequent rnanagemet~t of the Sate;
~d~ The costs of any ilrlprovelrrel~ts ~r~ade by such bolder;
fie} An al~raunt equivalent to the il~terest tl7at ~vor~ld have accr~~ed an
tl~e aggregate of such alnoulrts lead all such alrro~~l~ts became part of the lnol•#gage or deed of trust
debt acrd ~~cl~ debt lead cantlnued In elstence to tl~e date afpaymex~t by the Agency; alyd
~f~ Any custarnar•y prepaytr~el~t charges ilr~posed by the lelyder
p~~rstlant to its loan daculrrents and agreed to by the Developer
1~,8 ~~~h~ of f~le ~igellCy to ~ur'e Mortgage or' Deed of Trust l)efau~t~ r~l
tl~e e~et~t of a rrrortae ol• deed of trust default o~~ breach by the Developer prior to the
ca~npietiat~ of the constrt~ctlol~ of any of al~y Please of tl~e ]developer improvements ar any part
~S ~
DaCSOC114~0~73~?13120~272~~~~ ~
thereof, the Developer shall in~rnediately deliver' to the Agency a copy of any n~o.tgage holder's
notice of defa~~lt and the Agency sl~all h.ve tl~e eight b~~t rra obligation to c~~r'e the default if the
Developer fails to cure ~~vithin thirty days after fhe Agency notifies the Developer' of its
intention t~ c~lt'e. In s~rch event, tl~e Agency shall be entitled to reir~bursement frorn tl~e
Developer of all prope~i costs arrd exper~ses incurred by the Agency ire curing suel~ default The
Agency shall also be er~titled to a lien ~rpan the applicable Phase to the extent of s~~ch casts arld
disbl~rsen~errts, Any srrcl~ yen slrall be junior and suhordrnate to tl~e r~~or•tgaes or deeds of trust
~ri~'sua~~t to this ectio~~ ~ ~ G~
~00~ ~~~RAT~~N I` T~~ PROJC~T,
4D~. ~rav~slar~ of x#r'cxnely and ~ct~ ~a~~ irconie Rental Horrsrrrg-Rerx#aI
far'#lozr of ~Iie Prajec#,
~U1,1 Nirn~I~er• of Affordable Rcri#al ~riits, Pursuant to t1Yis Agreement at~d the
Regulatory Agreer~e~~t, tl~e Developer cove~~ar~ts and agrees to make available, ~~estrict
occupancy to, a~~d Vent the Rental U~~its at an affordable rent pursuant to ectlon X01,5 a
falla~s,
~a~ Thirty-Mine X39} of
tl~e tea bedroot Rental units ire Phase R-1
to ~e~~y I~~~v Income I~ousel~olds at an Affordable Rerrt; twenty X20} of the vo bedroom
Rental Units t~l Phase R-2 to fiery Lo~v Ir~cor~re PIorrsel~olds at an Af~'ardable Rent;
Eleven ~1 of the t~vo ~2~ bedraor~~ Rental Units l~1 Pl~se R-1 to
~xtren~ely ~a~v Income Hor«el~olcis a~ are Affoz~dable Rent; five of the t~vo bedroom
Rel~tal Units irr Phase R~~ to Extremely Lo~v Income Plousehalds at an. Affordable Rent;
~c~ Nri~eteen ~19~ of the three bedroom Rental I~r~its in Phase R-1
to'~ery Lo~v It~co~~~e households at n Affor•~lable Rent; ~~~~~e ~9} ofthe three bedroom Rental
Units in Phase R~2 to fiery I~a~~r ~nconle ~.ouseholds at an Affordable Rent; and
~d~ ~oul• of tl~e three ~3} bedroot~ Rental Units in Phase R-I to
Extrer~~ely La~v ~ncotrre I~or~seholds at an Affordable Rent; three of the three bedroom
Rental Units its Pease R-2 to Extremely Lo~v Irrcorrre I~or~seholds at an Affordable Rerrt~
~01,~ fur{a#ior~ of Affor~iabili#y Re~ulr'eirlents, The Rental Units shall be
sr~bject to the requirements of this Agreement for' the later of ~i~ fifty-eve ~55~ years fr'arn tl~e
date of the pity's ~ssua~lce of a certificate of occupancy for tl~e applicable Phase or err}
repayment in full ofthe Note.
~U1.3 ele~iorr of Terran#s, The Developer shall be responsible for' the
selection of tenants far the Rental Units in cotr~plia~ice with lawful and reasonable criteria, as set
forth i~l tl~e Reg~~latary Agreement and the anagetent Flan which is re~rtlred to be submitted
and. approved by the Age~~cy pt~ais~zar~t to Section 1,9,
~0~~~ I~a~lsehaid Ir~coznc Req~llremen~~~ ~ollov~ing the initial lease-~~p of the
Rental Units in eaclr of Plrase R~ 1 at~d 'hale and an~~~~ally thereafter, tl~e Developer shall
subr~~it to the Agenc~r, at the Developer's expense a su~rrrrlar{y of the income, lrousehold sire acid
D~C~C#~~~~~7~~i131~4~~~~-~~~1
rent payable by eaclr of the tet~arrts of tl~e Rental Urtits of such Phase. At the Agency's request,
the Developer shall also provide to the Agency carnpleted ir~came computation and cer•tif
rctia~~
farms in a farm reasonably acceptable to the Agency, fot" ar~y sucl~ tenant or' tenat~ts~ The
Developer shall abtait~, or• shall cause to be obtained by the Property tanager, a cet•trficatran
fr;am each. household leait~g a ~er~tal t~t~it detnonstritin that uct~ l~alr~l~~ld is ~ ~e~'y ~o~~
~ncat~e I~ousehald ot# l~xtrernely Lo~v ~tacorne ~ausel~old, as applicable, at~d rrreets the eligibility
tequirernents establrshed fat" the Rental Ur~it~ The Developer slrall verify, oti shall cause to be
verified ley tl7e Property lat~aget', the incatne certification of tl~e l~o~rsehold~
Afvrc~al~~c ~e~rt, The rnaxttr~ut~ lVlorrtlrly Rent chargeable foz" tl~ Rental
C~rlits shall be annually detertnitred in accordance with the fallo~vit~g rec}uiriet~entsF '>yhe N~ot~thly
Retat for the Rental Units to be rented to l~xtretnely Lo~v l~1cQrne Households shall trot exceed the
requirements of T~A~ ar~d tl~ Nlorrthly Rent for" the Rental Utlits to be rented to ~er'y Lo~v
~ncorne ~ol~sel~olds shall not exceed the mare rests"icti~fe of ~i} TAB or iii} the at~ourrt set fot~tl~
in ectio~~ 5o~53{b~~~} aftl~e alifarr~ia ~ealtl~ and safety ode
Far prrrposes of this A.greet~rent, "antlaly Rent" means tl~e total o~ tnatrthly
payments charged to and paid ~y terrat~ts far ~a} ltse at~d occrrpancy of eaclr Rental C.lrrit and land
at~d facilities associated there~vitl~~ {b~ any separately charged fees or service charges assessed by
the Developer ~hicl~ at'e req~~ired of all tet~at~ts, other than security deposits, ~c} a t'easanable
allowance for an adequate level of ser"vice of utrlrties riot tt~cll#ded trt ~a} or" fib} shave, itacl~#ding
ga~'bage collection, sever, ~vatet~, electricity, gas and other heating, cooking and refrigeration
f~#els, but not including teleplaone service, a~~d ~d}possessory itaterest, taxes or" other fees of
charges assessed for• use of tl~e land atld facrlrtres associated tl~ere~~ith by a public ar private
er~ttty ogler than the Developer, ~n the event drat all rrtility charges are paid by the landlord
t{atl~er tlran the tenatlt~ r1o utllr~y allo~~rat].C~ shall be ded~#cted ftorn tl~e rent, "~lriortthly Rent" does
riot lt~cl~~de apttot~al payments by tenants far optiat~al services l~rovided by the Developer' ar tl~e
property Nlat~ager',
~O1,G ~cc~rpancy Lilr~i~si The rnaxitnut~~ occupancy of tl~e Rental grits slrall
riot exceed more than s~#ch number" of persons as is eq~#al to the sl~tr~ of the numbet• of bedrootr~s
in tl~e unit, mr~ltiplied by t~va ply#s one ~l}. Far' the t~~a bedroom units, the tnxirrl~~tn
occupancy slrall not exceed five ~5~ persar~s~ l~ or the tl~ree bedraot~t r#~~its, the rr~a~irnurn
occupancy slrall not exceed seven persot~s~
40,7 a~•l~e#irx P~~ogram. The Developer shall prepare and obtain Aetlcy
>~xec>_ttive Det'ector's approval ~~rl~ich approval shall not be ~#r~reasorrably ~vitl~held, of a
rnarketitx pragrar~l fat4 tl~e leasrrl of tl~e Rental Ut~tts ~vlthrn eacl~ Please titre "N~arketing
Progt~an~"~~ The leasing of the Rental [nits shall be t~~arketed in accox•darrce witlr tl~e approved
Nfatiketing Prograt~~ as the satr~e nay be amended ft'on~ time to tine ~~~ith Agency lJxecutive
Director' prior ~vritter~ app~'oval, ~vhicl~ approval slrall riot u~~reasonably be withheld. The
Developer shall provide the Agency ~vitl~ periodic repat~ts with respect to the leasing of
the
Rental units. The l~larketi~~g Pt'ograrn slrall contain a Lottery and fait List~Preference List far
i~~etlal lease»up only, The Developer' shall be responsible to argar~i~e, schedule and coordinate a
lottery drawing to select potential tenants fora the Rental Units far enitial lease-up only, ~vl~iclr
shall be open to the p~#blic. The lottery slrall take place not less tl~at~ 9a days prior to cornpletiat~
of tl~e applicab~c Plisse of the Rental Units. Prefet'ence In the lottery, so lo~~ as not inconsistent
5a
D OC sOC1 ~ ~006733~ 1 ~}2Q~Z7 Z-~~~ ~
witi~ federal and state la~~r ~includir~g, withol~t l~n~~tation, all fair housit~ la~~s, i;~~le~ and
~•egulations~, shall be given as fallaws:
~I} A.ny persons wl~o have been displaced from their residences due to
programs ar pro
jests implemented by ti~~ Age~~cy within the tatian District; ar~d
Other i~ousel~olds who lire or ~vorl~ ire Santa Ana.
~~bject to all fair mousing laws, ~~ules, and regulatio~~s, all ctegaries shall receive
prefer`e~~ce i~7 tl~e order listed, The reci«irernents of this ectior~ ~~I~7 shall only apply' to the
extent that tl~e nl~mber of applicants for Rental ~r~its exceeds the t~urr~ber of Rental Units
mailable far lease ~rpar~ initial lease~up.
Far tl~e p~~rpase of tine lottery drawing, tl~e lottery will be d~~ide~ by thane who
have claimed a preference a~~d those who da trot. All lottery forms will be drawn ar~d nurr~bered
to create a cotn.plete list of alternate applications,
The Developer siaail pr'o~icle ~~~rittet~ notificatio~~ to lottery participa~~ts infarrnir~
them of tl~e results ar~d ti~eir priorrty rit~mber. This pri~rit~ r~uinber represents t~~e order with
~vhicl~ prospective te~aar~ts will be reviewed for final determination of eligibility. If a l~o~~sehold
who was selected elairned a prefere~~ce but co~~ld not verify s~~cl~ preference, the~~ that partlcrpant
wrll be dee~~ed lt~elrgrble and file next selected participant ~~ill be notified,
~U1,~ ~Iair~~ezta~~ce~ Tile Developer shah rnaintair~ each Prase of the Rental
Portion of the Project, or cause same to be maintained in a dece~~t, safe az~d sa~~rtary manger, at~d
in accordance w~tia tl~e standard of tnai~~tena~~ce of first class affordable l~ousir~g apartment r~nits
within xange our~ty, Oaliforniai if at a~~y time the Developer fails to maintain each Phase of
the Rental Portlorl of the Project i~~ accordance with ti~is Areerner~t and such condition i not
cap;rested wrthln fire days after written Ii~trce from t~le Agency ~v~tl~ respect to graffiti,
debris, and waste lnaterial, or• thirty ~3a~ days after' written r~atice from tine Agency with respect
to general mainter7ance, landscap~t~g and b~rrldrng rrnpro~ements, then the Agency, its addition to
whatever ~`emedy it may have at la~v or rte equrty, shall have tl~e right to enter upon sa~cl~ Phase
and perform all acts tad ~~orl~ necessary to protect, rnair~tair~, and preserve such Pllase, and to
mach a lren upon srich Phase, or to assess such Phase rn tl~e arrraut~t of the exper7drtures arising
frarn sr~ch acts a~~d warp of protection, maintet~anca, and preser'~ation by the Agex~cy ar~dlor
casts of such c~rre, ir~cludi~~g a reasonable admrn~strative charge, which amount shall be promptly
paid by the De~eioper to tl~e Agency ~rpon dema~ld~
~U~,~ I~Ilae~ner~~ ~ia~l; P~~operty ~Iar~agen~err~~ l~'ar each Phase of tl~e
Rental Portion of the Project, the l~e~~eloper shall subr~nit far the reasonable appro~ral of the
Agency a "IVlanage~nent Plan" ~vl~rch sets forth in detarl the De~elopet~'s property rrlanagerrrent
duties, a tenant selection process and carne pre~~entiar~ program, tl~e procedures for the collection
of rent, tl~e procedures for eviction of tenants, tine riles ar~d regulations of sr~ci~ Phase of the
Rental Poitian of tl~e Project and manner off` et~foreernent, a standard lease faun, air Operating
budget, the ide~~tity of the manager of s~~cli Phase of tine Re~~tal Portion of the Project ~tlie
"Property l~Iatl.ger"~, acid oti~er matters rele~at~t to tine t~~anagernent of the Rental Portion of the
Project Tl~e management of each Phase of tl~e Rental Portion of tine Project shall be in
51
DO~~~J1 ~I~~b73~~1312~0~72-D0~1
cornpliarlce ~vitll the Ianaget~exlt Flan ~vllicll is appraved by the Agency, The Agency ller•eby
approves Related Nia~~aemerlt ornpany, L,P. the Proper;ty anager• far` each Phase of the
Re~ltal Portion,
If the Agency deternlirles that the peg#fo~4n~ance of the Pr'aper'ty ~atlage~# as to a
pai~ticula~~ Phase is deficient based upan the standards set forth in the anaen~rent Flan a~ld in
thrs Agreenlent, the Aex~cy shall provide notice to the Developer of s~cll deficiencies, atld the
Developet• shall ~~se its best effar'tS to cor~•ect s~~ch deficierlcies. Irl the event that Stich
deficrerlcres have nat been c~zt`ed ~vitl~it~ the tune set far~th rn ect~o~~ a~, the Agency shall have
the night to r~er~i~•e the Developer• to irnrnediately ret~love atld replace the Pr+opert~ N~anaer• for
such Phase ~vitll another prope~~ty tllazlaet• or praperty rna~laeme~lt cotnptly ~vhicll iS
reasarlably acceptable to the Agetlcy, ~vllich is not related to or affiliated ~~rth the Developer, alyd
~vllieh has not less than five ~S} years experietlce p~•operty tnarlagernent, i~lclr~ding s~gnifica~lt
exper~e~lce ~naC~aglt~g llousrng facrlrt~es of the s~ze~ quality and scope of the applicable Fllse of
tl~e Rental I°ar•~ian of the Pro
ject~
4~~~~~ ~o~ri~orirrg allc~ ecarcikceping. Th~'ot~llout the Affordability Period,
Develope~• shall co~nply ~vitll all applicable reco~`d~eepitlg arld rnanitar~itl regtrire~nent set forth
ill Health at~d Safety bode Sectioil 3418 a~ld s~lall antr«ally car~lplete and submit to the Agency
a report, prior• to ~atluary ~atl~ of each year, far each Phase of the Retltal Portion ~l1iCh incllydes
the name, address, inco~ne atld age of each accupatlt of a Rental Unlit, the bedroom count and
atltl~ly F.e~~t fat` st~cll Rental Ilrlrt. The Agency a~•ees that the Developer tray st~b~l~it reporting
for{nls p~•epared and st~brnitted i~l car~t~eet~on with a~ly other similar t'epo~~titlg r•egt~iriernent,
~trclt~d~ng 1'epar'ts prepared fog` tax ~1'~dlt co~npllarlce, to the ~?~terlt those for•rl]s cantalll the
itrforrnatiarl required herer~nder. Representatives of the Agency shall be entitled to etlter eaell
Phase of the Rental For•tiorl of the Praect, l~potl at least seve~lty-tea ~7~} llot~~'s prior ~ritterl
~latice, to ~r~o~litor` cotnplra~lce ~v~~ll tllls A~•een~etrt, to inspect the r~C~rds, and to conduct an
i~ldepe~lderlt atrdit ar' r~lpect~o~l of such t`ecords, The Develope~~ agrees to cooperate with the
Agency in nlakirlg each Phase of the Re~ltal Fortia~l of the Project available foci such inspectiotl
or ar~dit• Tile Developer agrees to rnaintaiil records in a bt~sirlesslike lllanne~•, old to rnrntarrl
such reca~•ds for the terrn of this Areernelltf
4D~,11 Reguiafa~~y AgreetYirit ally Natice of ,Affor~~~abiiity ~estrictin~~s, The
requrrenlerltS of this A~•eenlent ~vlrlcll are applicable to the Rental Portion of the Pro
ject after the
canveyat~ce of the Site to the Developer a~•e set forth in each Regulatory Agr•ee~llent.
Additionally, the l~evelaper shall record a Notice of Affordability Restrictions on Transfer of
Pr•oper•ty ~`~otice of Affo~~dablllty Restrictions"} as to each Phase of the Rental Portiotl of the
Project in the fox`~n attached llereta as Attachment l~ and itlcat•ported ller'ein by this z'eference,
~vhicll shall rr?n with tale land and shall be enforceable against arly owner ~vho violates a covenant
or restrictiarl and each successor i~l inter`est ~vho contirirres the violation pt~rst~ant thereto The
exectrtian of a Regulatory Agr•ecrnent acrd the Developer's exct~tiorl of a Natice of Affo~•dabllrty
Ret~`1Ctlons rs a olldrtro~l precedent to the las~I~g far` a Phases as Set fo~`th ltl eCtlor12a4, The
Age~~cy shall st~bardinate this Agr`cen~ent, each Regulatory ,Agreetnerlt and Natice of
Affordability Restrictio~ls to the construction and pern~ar~ent financing approved pt~rst~atlt to
Section ~ f ~ by the execution of a rtborditratio~l agreerne~lt in a for•~~n deter~nined to be
a•easonably acceptable to the ~xeer~tive Director
~~~~'~~~'1 ~
~~1,1~ ~eia~lolls~ll~ fa ~`edlt Requiren~ex~#s, ~ot~vitl~standir~g at~y other
pRO~risions of this Areerr~ent, to the extent that a Tax red~t ~g~~atot'y Agreetne~~t executed by
the De~elape~• as a requi~`et~e~~t off` receiving the Tax credits far either far bath} Pl~ase~s} of tl~e
~et~tal Portlot~ Qf the PR~~eet ar any other ~'eulata~'y agt'ee~nent executed tl~e Developer as a
~'equiren~ent to obta~~n financing for either for botl~~ Phase{s} afthe dental Portion aftl~e Project,
are Iess restrictive v~rlth Respect to the require~nel~ts applicable to tena~~t selection, tet~a~~t income
levels, unit rent levels or at~y other; aspect of tl~e coi~structian and operation of such Phases} of
the Rental Portio~~ of tl~e P~;oject than as pra~r~ded In this Aree~r~ent aid tie ~egulatot'y
Agreement, then the Develapeli shall con~pl~ 4~~atl~ tl~e req~~iietnetits of
~l~ts A~•eer~ent, inel~~dit~
the applicable Reulato~~y .AgreeRnent; pi`ovided, I~o4~evei', that in the event the caver~at~ts or
~`esti'ictioi~s, i~icludii~g the affordability rests}ict~ol~s set fart}~ ~~j tl~~s Agreemei~t, ii~cludli~ the
Re~~latory Agreemei~ts, are nQt tl~e t>~ast i`est~'ictive ~rovisioi~s applicable to either for botl~~
Phase~s~ of the P.ental Poi`tioi~ of
~l~e P~`a~eet, a~~d to the extent of a~~ ~~col~slste~Cy bet~~eet~ a~~
airiot~ s~xcl~ agree~r~et~t~s}, the Developer shall compl~~ ~vith the mast rest~'icti~re of such
agaie~x~ei~ts, Tl1e foregoing Req~~iremer~ts shall apply to tl~e Developer az~d to its Pi`opert}~
a~laer ~~ha is involved its the selectio~~ off` te~~a~~ts oi' tl~e deterinit~atiai~ of i'~nt ainot~~~ts far tl~e
Rei~tal Partiar~ of tl~e Project,
~a1,1 Applicability of Secfio~~~ The pravisiaris of this Section tai apply oi~Iy
to t~~e l~ei~tal Poi`tioi~ of the Project and are ~vl~ally it~applicable to t~~e For-Sale Fortiori of the
p~'a
ject.
P1'U'4'1SIgI1 a~ ai~e~'ate I~lcame Fol'-Sale ~o111x1~~~UZ'~Sl~ P01'tlarl of Mlle
PI'U~ ~~f~
~~~~1 l~p~rlllet', ~ocatial~ ~lld ~ual~ty of Affoz•~lahle ~`or~ale C~liits, one ~l~
of the Housing Units developed ox~ each of tl~e six ~C} separate lots cai~stitutil~ Phase the
PaR-Sale Poi~tiol~ of tl~e Deve~ap~riet~t shall be sold to Moderate Ii~came Uouseholcls, at the p~•ices
set fartl~ in Sectioi~ ~D~,~ hereof, '.e., the Affordable For»ale U~~its, Tl~e location of the
Affo~`dable For-Sale Units ~vithin tl~e For-Sale Pai-tia~~ of tl~e P~`oject ~vill be ~rbject to fhe
Reasonable approval of tl~e Agency 1~xecuti~e Director pursuant to applicable la~vs at~d
re~ilations, The Developer cavei~ants a~1d agrees that tl~e orkinai~ship} quality of materials,
and casts of cot~struction for aild the ame~~~ties~ at~d physical features of eaell at~d all of the
Affordable p'ot`-Sale Units shall be equal toy a~~d cinder x~o circumstances or conditions less
desirable than, aII other Hai~sing Units in fire p'ot`-Sale l'oitioii of the Pi'a
jest.
~a} The Developer' ~vill be consti+uctin sever+al t~~odels, pla~~s, oi` types
of H.ousii~g Uliits iii file Far-Sale Partl~tl of floe ~'roject, AlI of the Affordable p'or-Sale Urlits
mill be three ~3} bedraan~ Housing Units, Three of fire Affordable Ha~~sing Units will be Platy 1
Units two of the Affoz~dable Housing lilts ~~ill be Plan ~ Units, and one of tl~e A'fo~;dable
Ho~~siiig Units ~~ill be Plan ~ Unit has those terms as desc~'ibed i~~ the Scope of Development}.
The Developer caveliants ar~d agrees that all tl~e A'fo~`dable For-Sale Uliits iii all respects shall
be the satr~e~ca~r~pai`able in tei`ins of quality of construction, arrie~iities~ tr~atet'ials, desigii, etc, as
tl~e Hous~x~g Units of the wine size and rnadel that are designed, constructed, a~7d sold oil the
open marl~et.
DQCaCII ~b~3v ~ 31200~7~-O~a 1
fib} The Agency acl~no~~rledes that a buyer of ~ rnar'l~et dousing Unit
nay elect at~d pay fo~4 x~pgrades or ilnpro~ernents that are not included in the plrrchase price fo~4 ~
Ha~~sing Ul~it of tl~e same size and rrroclel at~d tl~~~s not x~ecssarlly Included rn a corresponding
Affordable For~Sale Unit, b~~t nothil~g its the foregoing ackno~vledlnent rnodl~es or lessens the
De~eloper`'s obligation to pr'avide fir+s~ q~r~iit~~ Affordable Fir,»~l Hnlts ~s described ~~a~e,
4~~~~ a~itr~rirYl Sal Prlcs, Developer covenants and agrees that each of tl~e
Affordable Por`-Sale Units shall be sold at an Affordable Housing ~ast~ Tl~e Developer
acl~~o~vledges and agriees that such calculation may require it to ad~~lst the sales price far each
Affordable For~Sale U~~~t ire order` tliat tl~e c~~ln«lative s~lms of the Horr~ebuyer Assistance Load,
~.oi~~ebuyer's do~il payment, and proceeds of first ! ie~~ a~•e adeq~~ate to purcliase such unit iii
light of tl~e statuto~~y ~~eq~~irernerits that the Monthly ~-Ia~rir~ host ari payment faro such r~~~it does
not exceed tl~e Affordable Houil~g Est as calculated as of the anticipated date of sale of each
A~'forda~ble >~or`-Sale i~it~
4U~,3 Affoi~da~~e orlsilig esa7e Restr~ef~o1~, 'The Homebuyer of each
Affordable Fot•~ale gnat shall be obligated to enter` into and execute the Harnebuyer Loa~~
Agreelnei~t, ~~lilcl~ 111Cludes the requirement to pay a antinent Equity ~lal`c Alno~r~t 1~ the
Affordable For`-Sale Unit is slot Bald to Eligible Persons a~~d Fa~rrilies, and such atlrer'
documentation as tl~e Agency ~•easozxably req~~ir`es. Tl~e Homebtlyer` Lawn Agreement shall
provide for a forty~five X45} ~ea~• affordability period {the "Affordability Period's}, and shall
pei`rnit tl~e sale of the Affordable For Sale unit for a price in excess off` that at~~e~'4~rse permitted
b~ tl~e Hoineb~~yer Loan Agreement prior to the end of the Affo~•dabllity Period upon the
payment of an equity shar`ll~ al~~out~t to tl~e Agency ~~hicl~ permits the seller` to retain a partial
ofthe sale proceeds
~D~~~ lectloll of ~Lly~i'~~ ~Vlar~etiil aid u~r~eae~r Marl. The Dcv~loper
shall provide tl~e Agency ~~~itlr a copy of Its N~arl~etit~g and ~ut~•eacl~ Flan ~~l~icl~ shall set for`~h
ha~v the Developer plans to provide ~~~terested l~o~~sel~olds ~vrtl~ lrlfor'rnatlarl about the Affordable
For`-Sale Units. Tl~e Developea{ shall be solely responsible far the selectiar~ of qualified
purcl~asei.s o~'the Affordable For`-Sale Uirit, Developers shall ensu~•e that the~•e ~vlll be lioinebt~yei'
educatiol~ ire accor'dalrc~ with Section ~ ~,4~b~~ii} hereof The goal of the arl~etil~ acrd
~rltreach Plan is to insure that ~i) t~~geted ~>~arl~eting of Affordable For-Sale Units is provided to
perso~rs with tl~e priorities set foz-tl~ bc~o~~, al~d iii} the inarketin of Affordable For-Sale U~~its to
the gener;al pl~blic be as broad and lnclrlslve as p4sslble ~n orde~i to ir~for•~n al~d attract as tnany
prospective buyers as possible, ~f the Developer reasallably expects that tl~e i~~lmber` of qualified
purchasers of the A.ffoidable Fo~~ Sale ~l~lt ~~rlll srgnlflcantly exceed the supply, the nlarl~eting
plan inlay include a lottery dr`a~vll~g ~!~itlr respect to file Affordable For-Sale Units, which shall be
open to the public, Tl~e ~utr'eacl~ alyd ar'keting Plan and tl~e associated applicant selection
procedures ~~ill be targeted to purchasers rga~•dlss of race, color, religion, sex, disability status,
familial status ar national origit~~
~nforinatlon shall also be provided an tl~e De~~eloper's ~vebsite, pity of Santa Ana
~~ebsite, pity cable channel, arlCfarce I~t~resttnc~~t oar`d, Santa Ana chamber' of omirrerce,
Santa Ana U>~ified School District, ailcho Santiago ornrnulllty college Dist~~lct, ot~lmul~ity
Development Resoa~rce ~et~~ork Newsletter, through neighborhood assoc~at~ons and to per•sans
4vho leave been displaced ~v~thil~ tl~e Station Dist~iict~
D OCSQ~l14~~C~73 1 ~i~~~~7~-D0~ ~
P~~eference shall given as follos~ persons displaced ~vithix~ tl~e tat~o~~
District shall k~e given ate e~clui~e period of not Tess than four•teer~ ~ to p~~rchase
Affardal~Ie for-Sale Units, after the eonclus~o~~ of tl~e e~clusi~e period pur•suar~t to
sr~~parag~•aph ~ 1 } above, halrseholds ~vha Ii~e ar• ~orlC in Santa Ana slrall be given an e~elusiv
per•iad of hat less tlrarr four•teer~ ~l da~rs to purchase Affordable Far'-Sale Unit, arYd after• tl~e
conclusion #l~e e~clu~ive period purs~~arrt to s~~bparagrapl~ ~2~ #l~e general public slaail be
elrgrble to purclrase Affor•da~e For~al Unt#~ Tl~e Agency shall provide the De~eiaper ~~ith a
Iist of persar~s drsplaced ~vrthrn the Statror~ Drstrict and their contact infarrnatior~. Separate lists
shall be rait~tained for each preference category. If a potential b~r~er claims a preference but
could rrat verif~r s~rch pr•efer•ence, s~zci~ p~zrcl~aser shall be pr'avided the same priarit~ as rnerrrbers
oftl~e general public.
Pre-p~zrcl~as co~~~~selin must be cample~ed prior to the closing of each
Affar•dal~le for'-Sale Unita
4~~.~ Income of Buycrs, pr'ior' to the sale of ar~~ A'for•dal~ie ~o~•~Saie U~~it, tine
Developea4 shall sublr~lt to the Age~~c~ Exec~~tive Director a cor~~pleted it~corne cornp~~tatior~ at~d
certrficatran form, lr] s~~cll for'lr~ as zr~ay be provided b~ tl~e Agenc~~. brass incarne ar~d net
rncarrre of the Ilo~~selrald shall be deteaimi~~ed in accordance with Health and Safety bode
eetio~~ 5a~ at~d the pravi~ians of Sections ~9I~ acid ~9~ of Title of tine ~alifor~~ia bode
of I~eguiatiot~sa The developer shall obtain a cer•tific.tiarr fi'or~~ each prospective Home~t~er
det~ans#ratirig that such prospective Hornebr~~e~~ is a N~aderate Iricorne Household and r~reets the
elrgrbrlr#~ requir•errrents established for the Affordable for-Sale Unit and that such Affordable
For•~Sale Unit ~~ill be made a~~ailable far' purclrase acid Bald at a~~ Affordable Housing host to
such prospective Horr~ebuyer. a#~~ifhstarrdirig ar~y~lring lrer•eln to #l~e cot~trar~, eaci~ prospective
Homeb~i~er• shall be req~~ired to n~al~e a do~~~t pa~rr~ent of hat Iess than tlrree percent ~3°/a~ of the
purchase ~vlrrclr down payment ~n~~st be part of the net assets of the prospective Hornebuyer• at
the t1t~e of application, The De~elaper shall ~~er•if~ the iz~co~ne cez•ti~cation of the prospective
Hotr~eb~r~er as set forth I~elo~~,
The De~relaper shall verify the income of each proposed Homebrrye~• of the
A~i'ordable For-Sale U~~it by at least acre of the following methods as appropriate to tl~e proposed
HorY7ebu~rer
~a) alatain t~vo ~2} paycheck st~~bs frotY~ the person's t~vo mast
i•~C~~1t pay periods,
~b~ obtai~~ a true copy of an rr~came tai return froth the person far the
tr~ost recent tai year in ~~~hicl~ a r•eturtl was f
sled;
~C} Obtain arr lr~came ~errfictran cer•trficatron fi'orn tl~e ernplayer of
the person;
~d~ abta~rr an rncorne ~erificatior~ certicatior~ f
r'orn ~lre Soclal Sec~~t'it~
Adrnrnrstra#ion arrdlor the ~aliforr~ia ~epa~~tn~ent of Social Services if the persar~ receives
assrsfance tram such agencies; or
DDC~CI~ 40~G73~~I31~0~27~-~~~ 1
~e~ obtain an alternate form of incolrre verification ~'easonably
1'e~r~ested b~ at~dlar acceptable to the Agency, if rrarre of the above forms of serif
icatiol~ is
available to fire ~e~eloper',
~O~,G N~ail~~er~arice o~Tcnar~~s; Assacia#ia~~ The developer' shall
n~alr~#ain the For-ale P~l~tion tl~e Project and all ilnpravelnel~ts ther'ealr, includil~g all
landscapitlg, in calrrplial~ce ~~~itlr all applicable pr'ovrslorrs of fire City's ~Iriul~icipal bode, duril~g
t~~e per~ad of De~elo~e~#' ~~xt~el'hi~ oftl~e Far~ale Pol•tian ofthe ~t'o~eet al` and par'~lan fhel'eaf,
The ~e~eloper shall prepare and s~~brnlt fire Assocra#lal~ CCB~Rs for' t~~e For~ale Poa-tion of the
Project to the Agel~cy E~ectrti~e Direc#ar~ far' his or' leer' reasanable approval, The Assocratlon
CCcs shall be recorded against the ~'or-dale Por~tioz~ of the Project prior to the sale of al~y
~Dilsl~lg t~lt5.
Tae Association CCi~s shall re~uil'e the a~~~ners of all ~ousing ~nlts
constr~rcted ol~ file For-Safe Po~~t~o~~ of the Project to be ~rlet~lbers of the Assaciatian, The
Assocra#lon CC~Rs shall erltltle eaclr such a~~rrer' to use oftl7e cominol~ areas a~~d facilities to be
canstl'ucted on the For-dale Portion of the Project arld slrall set forth an e~~~itable apportionrnel~t
of the costs of xr~aix~tai~~ing a~xd operating such comtrlol~ aI•eas at~d facll~tres, The Associatlalr
CCRs shall also obligate the Association to ~nait~tail~ and assi~nle all liabili#y far any
lal~dscap~ng #hat rs actually installed an fire carl~lnolr areas for' the For`~ale Pox~tio~~ of t~~e
Developmel~#.
Tile .~ssociatiot~ CCs shall be enfol`ceable ley the Aer~cy al~d City ~~i#h fire
right, but rrot tl~e obligatiola to enforce tl~e sate}, and any s~lbstantive a~~et~dent~s} #a such
Assacia#ian CCRs shall re>~ire file ~~I1sel~t ~f file AgelrCy ~~ec~~tlve Dlr'ector•, ~vhich consent
shall not unl'easonably be withheld, Tl~e Association CCs slrall speclf
ically state that both t~~e
City and Agency a~`e intended third party beneficiaries thereof ~~i~h the ability #a enforce alI the
obligations set fo~~~~ therei~~~ i~~cludii~g, ~vithorlt li~rlitation, the abili#~ #a car~se and and all
rnarn~enanCe and repair` obllgatrol~s to e per"forl~ed Ol' to otlrel'~v~se 111~de~`t~~e such ma~nte~~ance
and repair' subject ~o r'ellnb~ll'sernent far the costs irrcul'red lrr col~t~ectlol] ~v~tl~ s~ZCI~ I~a~lntenance
a~~d1o~• repair secured by a lien on the pl•operty affected b~ tl~e rrrain~enalicelr'epair, The inter'Ijal
stl'eets, if a~~y~ to be ix~stalled by ~e~elopr an tl~e For~alc Portion of the bra
jec~ shall be prl~ate
Str'eetS arrd file Crty shall not accept ally dedlcatlQl~ ~f L~cl] streets; taerefore, tale Association
~ shall include ~ pr'ovrsloll ~l~llgatlllg fire I11e1~7ber's file Association to 111~de~'#al~e and
bear any a~~d all costs associated ~~~th tl~e main#enat~ce and repair of the iIr#ernal streets arr the
For-Sale Pol'tion ofthe Project
~~1~1~1C~~llilt~ o~ eCt~oll, Tire pr'ovllorrs of this Sectrorr ~4~ apply oz~ly
to #17e For~ale Por#ian of #lle Pr'aject al~d al'e wholly inapplicable to fire dental Por'tiarr of the
Project,
~~~a~Tisior~s ~.pplicab~e ~o ~~e ~iafi~~e Pr•ojec~,
~D,~ ~Jse ire Accordaxzce wi~~~ ~edevelapmel~t Pla~~, The Develaper
covenants acrd agrees to devote, use, ~per'ate, alyd l~all~taln the rte ar~d the ProeC# ]n accorda~lce
with the Pant Deed, the Reg~rlatory Agreemelrt, and tills Agreel~nel~#, All uses cond~~cted on tie
Site, incl~~din, ~vltl~out 11in1#tiai~, all activities render#akel~ by the Develaper pursuant to this
D~CS~Cl~~00b'~3~t131~OD272-4~4~
~gree~trent, shall co~~fo~'n~ to the ~edevelapn~ent Plan, all applicable provisia~ls of tl~e pity's
Municipal bode, any tad all la~~s, rules, a~~d regulations applicable to the bite and the Project,
and the retarded dacr~~~et~ts pe~~talning to and r'€~nning ~~ith tl~e bite,
oI1~~1~Ci'1i~1111~~1DI~ overrall~~, Tl~e ~evclaper cavet~at~ts by and forF
itself and any successors in i~~terest that, except s other'rse pra~ided o~• pe~'rnitted la~T, there
shall be no discr~rnlt~atlan agarrrst or segregation of, any person or' group of persons on acco~rnt
of atay balls listed rrr subdrvrsran ~a~ ox" ~d} of Section 129~~ of the avernn~ent bode, as those
bases are defined in sections 2~, ~9~,~, srrbdlv~sl~I~ ~m~ and paragraph of subdivisio~~
~ of Section 125, trd Sectia~l ~ Z955. of tl~e ove~'r~~ne~rt bode, iii the sale, lease s~zblease,
tratrsfer, use, occupancy, tetlure, oz" enjoyment of the bite, rear shall the ra~rtee or' any person
clairrrit~ ~~nder or tlrrough llitrr ar her, establish or permit airy practice o~• practices of
dlscr"l~r~ination or' segregation with reference to tie selectior~, location, nun7ber, use of"occupancy
of tez~a~rts, lessees, subtenants, sublessees, or vendee irr the Site. The for'egoi~ag cove~ratrts shall
r~~t~ ~~~ith tl~e laud,
except a otlier~vise provided or permitted by lam, the Developer sl~ali z~efrai~r
from r'estt'icti~rg the rental, sale or lease of the Site far airy portion thereof] any of the bases
listed above in this Sectia~~ 40~2~ A.li such deeds, leases ar cant~•acts sl~ali cot~tit~ or be s~rbject
to substantially tl~e folio~~ing t~otrdiscrirr~inatial~ or ~~ansea~egation clauses;
~a~ ~~r deeds: "Tl~e grantee herein covenants key and fog' l~i~r~self or
he~~self, leis or 1rerF heirs, executors, ad~r~i~~istrators, and assigns, and all persoz~s cl.it~i~rg under or•
through the~~, that there shall be too discr•i~nination aai~rst or set"egatio~r of, any persan ar group
of perso~~s ot~ accor~nt of any basis listed in subdivision ~a} or ~d} of ectian 1~~~ of tl~e
Cover~~n~et~t bode, as those bases are defined in Sections ~ ~2C, 1 ~9~~, 1, subdivision ~m~ and
parag~'aplr ofsubdivisran ofecttot~ 1~5~, acrd Section ~2955.~ oftl~e overrr~ne~rt fade,
~i~ the sale, lease, sublease, transfer", use, occ~~pancy, te~rt~re, ar enjoylne~~t oftlre pter~ises herein
ca~rveyed, ~~ar• shall the grantee or any persan claimir~ r~ndez' or through hi~n ar' her, establish o~'
perrr~lt any pt"aCtlce aI` pr'acttces Of dlscrlrnlnat~on or• segregation ~~~th reference to tl~e select~otr,
locatio~l, n~r~~nber', ~~se ar accupat~cy of tenants, lessees, subtenants, sublessees, or' ve~rdees in the
lare~~lises lrereit~ canve~Ted. Tlie fot'eoing cove~~a~~ts lrall run ~vitl~ the land,"
fib} ~~r leases; "The lessee l~e~'eix~ covenants lay and far himseif or
herself, his or leer heirs, executors, administrators, at~d assigns, acrd all perso~~s clain~ix~g ~z~~der' ar'
th~'o~zglr lri~rr or' het', and this lease is made acrd accepted upon and sr~bject to the folla~~in
co~iditians:
"TXat t]el'e shall rla discr~rr~i~~at~on agalr~st or segreat~an of any pe~ison
~r 1'D~~p Of per'sans, an accoutrt of any balls listed In subdrvlslo~r ~1' ~d~ of Section of
the over~rtnent bode, as those bases are defined rn Sections 1 ~2, 129~~, 1, s~~bdivisian ~t~~
and parag~'aph ~l ~ of s~~l~divisian ~ of Section 1 a~~d ectlo~l 12955.E of the overr~rnent
fade, in tl~e leasing, subleasing, transfers"in, arse, occupancy, tenure, or en~oyrne~it of the
prer~ises herein leased t~or si~ali the lessee lri~nself ar herself, o~" a~ly persa~r elair~rirr under or
through hin~ ar• he~•, establish or• permit any such practice or practices of discri~r~inatio~~ or'
seregatioi~ with reference to the selection, locatioir, rr~~i~ber, use, or occupaicy, of tenants,
lessees, sublessees, subtenants, ar vendees in the premises herein leased."
5?
~~~73~~13lZ~0~72-~0~ 1
l
In cot~tracts: "Tl~ete sl~all be no disctttt~tinatton against atF
segteation of, any person or t+oup of pezsons on acco~~t~t of any basis listed in subdi~isio~~ ~a} or
~d~ of ectio~~ 12955 of the o~ernrnet~t fade, as those Lases ate defined in Sections
1292, !#bdl~tstotr ~m~ and pat+agrapl~ {1 ~ of s~~bdt~tston gyp} of ectian 12955, a~~d
ectian 12955.2 of floe Go~erntr~ent bode, to the sale, lease, sublease, transfe~•, ~zse, occupancy,
tet~~r~•e, ot• en
joytnet~# of tl~e premises ~~l~icl7 at`e #I~e suk~
jeet ~f this Agt•eetnetl#, not shall tie
grantee of at~y person cla~tr~ing under or through him or her, establish ot` pertr~it any p~•actice ot•
practices of discrimination or segregation ~~itl~ tefetence to tl~e selection, location, t~~~tnbet, use
of occupancy of tenants, lessees, subtenants, s~~blesees, or ~et~dees to the pret~ises l~e~`ein
catl~eyed. The foregoing covenants shall run ~~ith the land,"
The ca~et~at~ts established iii this Section ~Q,2 shall, ~~~ithout regard to tecl~t~ical
classificattan and deslnat:on, be btnditlg for t1~e benefit and in fa~atF of the Agency at~d ~#s
successors and assi~~, a~~d sl~all tet~natt~ to effect ttr perpetui#y,
~0~ Applicability off` ectioza~ The provisions of #I~is Section 403 apply to the
entire Project, itlcludin bath tl~e For«Sale ~'o~•tio~~ of tl~e t'toject at7d the ~et~tal Partian of the
Praec~.
500 D~I'AD~T AND N1D~~,
501. Def?tit erttct~ie~~ S~~b~ect to tl~e extet~stotrs of tttne set forth in section 507,
failure by either patty to perform any ob~~gat~ol~ 1~ere~it7der ~r failure to use best efforts to ft~Ifll a
canditiar~ pt+ecedent ~~itl~ii~ the titrte periods prodded het~ein f~llo~vin t~otica and failut•e to cure
as described he~ieaer, constitutes a "Defaul#" ~~rtdet~ tl~i Agreen~ent~ The ~`efttsal or failure of
tl~e De~elopex~ of Acncy to close Escto~v follo~~~in satisfaction of tl~e Aet7cy's andlar
Der~el~per's anditians Precedent fo~• be~~efit of file party fatltt~g nr refusing to claw Fscro~~
cot~stit«te a "Default" u~~der this Agreeemnn#, A patty claiming a Default shall give ~~vtiitten
notice of Defattlt to t~~e otl~et• party specifying tl~e Default cotr~plalt~ed of~ Except as otl~er~vise
expressly provided in tl~is Agreetrtent, the cla~~~ai~t silall not ti~stitu#e qtly proceeding against airy
otl~er party, nor tetininate this Aree~nez~t, a~~d the otl~er patty shall i~ot be in Default as to t~ot~~
tnanetary Defaults atl~e~i ti~at~ tra~~sfers not pert7~itted under this Agreement has to ~rl~icl~ too tigl~t
fa notice or cure sl~al~ apply} if such party ~~itl~in thirty ~30~ days froth receipt of suc1~ notice
p~~o~nptly, v~itl~ due diligence, commences to c~~re, cottect of teinedy such failure ar delay at~d
tl~erea~er cotripletes such c€i~+e, core+ect~ozl oi` tetr~edy ~~itl~ due dtliet~ce. As to trioneta~iy
Defaults, a cure period of tet~ 0} days upon ~~ritten i~atice shall apply,
502, ~11~~i~ritl0ll of Actloils. ~t~ addition to any otl~et rights or remedies and
~ib~ect to the resttictia~is otl~e~~~~e sit forth 1n this Agl'eemei~t, aet• e~piratiat~ of tl~e cute
periacl pro~idcd in Sectio~~ 501 above, either patty may institute an actron at Ia~v or equity to seek
specific pe~•forn~ance of tl~e tet•rn of this Areei~ei~t, oi• to cute, co~~rect of remedy at~y Default,
to tFecover clair~ages for airy Default, o~+ to obtain airy otl~er remedy consistent ~~itl~ the p~irposes
of this Areemnn#. specific pet•forrnance shall be mailable as a remedy to the greatest extent
legally allo~~rable, S~~ch legal actions iri~ist be instit~ited in the St~petior court of the Jaunty of
~~~ange, Mate of alifari~ia, to an appropriate municipal coati in tl~at county, ar in tl~e ~Jt~ited
Mates District otitt fo~~ tl~e enttal Ditt4ict ~f alifari~ia. ot~~ithstanding anyt~~ii~g to tl~e
contrary cai~tained herein, nothing in this Agreement, lnclutllt~ the Attachments and in any
SS
I~~ Cs~~f 1 ~0~~"3~~ ~ 312~0~72-0~~ 1
~mple~nentatlon Agt'ee~ne~~ts hereto, shall be construed to provide that a Default relating to one
Phase shall co~~stitt~te a Defatrlt under' any other' Phase, i.e., there shall be ~~o cross defaults
bet~~eerl Phases or" each Phase's Develope~• entity Accordingly, any rights and r'ernedies sought
under this Agreez~ent follo~~it~ a Default shall be limited to the Phase in ~vhich such Default
occurred.
50, ~g~tts ~'errriiYlatroli,
543.1 Te~~mi~ratioaa by Agezz~~. ~n the event that tl~e Ager~cy rs riot rn Default
r~ndet" this Agreernerlt, at~d ~a} fire Developer' does not fulfil! one or r~~ore of tl~e Agency's
orrditiorrs Precedent ~~itlr respect to a Phase ~~hich is capable of be~xag satisfied by file
Developer are ar before file tttr~e set far~h herein for irr the schedule of Performance} acrd such
condition is ~~ot satisfied after Notice and air oppor'tutrity to cure as pr"ovided eetlol~ Sal
hereof, acrd such failure rs riot caused b~ the Age~~cy; or fib} tie Developer is otl~er~~ise irr Default
under the terns of this Agree~~er~t at~d fails to cr~re such Default within tl~e time set forth ire
ectiai~ 501 l~e~'eof~ tl~e~~ this Areerr~et~t and any rights Of the Developer or a~~y assignee o~"
transferee ~vitl~ ~'espect to or arisitrg out of
this ~t'eerr~ent shall, at tl~e alation a' tl~e ~.e~e~, be
terminated as to such Phase b~ written native thereof to tl~e Developer. Prom the date of the
~~ritterl native of tern~inattotY of this Agreement as to stzch Phase by the Agency to the Developer'
at~d thereae~• this Agreement shall be deemed terminated as to srrel~ Phase ~l~ut not as to try
other Pl~ase~, tl~e~l fire Agency slrall not be obligated to make at~~ fu~~l~er disburse~r~et~t of the
Agency Loa~r for' such Phase or of any ~on~ehuye~" Assistance ~oat~, repa.ymerrt of fire
Promissory Note relating to st~cl~ Phase shall be accele~'ated, anti there slrall be no further rights
or' abligatiorrs bet~veera tl~e parties ~vitl~ respect to such Phase, except that if the Developer is ire
default hereunder, the Agency, after delivery of rlatice of default and expiration of tl~e ct~t'e
period pr'ovrded in ectran 50~ her"eaf, t~~ay pursue any ~'e~r~edies it has at la~v or equity against
the Developer' in accordance ~vlth ectio~~ 50~ hereof"
X0,2 Te~~illi~iatiorr De~relapcr•, fir the event the Developer is ltot in Default
ut~de~" this A~'eet~xexrt, and {a~ the Agency does clot fulfill oi~e or rrrore of tl~e Developer's
oiiditions Precedent ~~ith respect to a Phase ~~rhicl~ is capable of beiir satisfied by fire Agency
on or before the trine set far~h ~n this Agreement for i~~ the cl~edt~le of Performance} and such
col~dltlon ~ tlot satls~ied after` trotlce acrd air opportunity to cure as provided in ectio~~ Sal
hereof, and such ~'ailu~•e is not caused by the Developer; or fib} the Agency is otl~e~t~vise in Defa€~lt
under' the terms of this Agreen~e~~t a~~d fails to cure st~cl~ Default ritlrit~ the tame set forth in
ectlan Sit hereof; then this Agi'eer~e~lt at~d ar~y i"fights of the Agency ~vitlr respect to or' arising
or~t of this Agreement slrall, at tl~e option of
the De~elaper', be terminated as to st~eh ~'l~ase by
~V~'ittet~ Notice thereof to the Agency, Frain the date of the ~vritte~~ notice of termination of this
Agi'eeirient as to such Phase by the Develaper• to the Agency and tlaei'eaer this Agreeinerrt slrall
be deeiried terminated as to such Phase ~bt~t i~ot as to airy other Phase, the Developer shall not
be obligated to 'i~i~tlrei' perforrrr tznder' this Agreement with respect to such Phase and there shall
be na fiii'ther' rights ai' abligatioi~s between the pa~~ties with respect to such Phase, except that if
the Agency is In default hertindr tl~e~~ tl~e Developer', after delrver'y of notice of default and
expiration of tl~e cure period provided In Section 541 hereof, ~r~ay pt~~'st~e airy remedies they it
has at la~v or equity against the Agency ire accor'da~~ce with ectiai150 hereof,
S9
DOCS~CJ14~~673~?1312~~272•~~~1
~4.~ Ter"rrr~rratioil ~y ~i~~ler Party. In the evert that tl~e Agency is pl•ohibited
by la~v f~•on~ ~rsin lnor~ey from the ~Iausil~ Fund to firlfill any of its obligations llel•el~ncer or the
use of the other firl~ding souzces by Developel• tl•igger's the requlrernent to pay px'evilin ~~aes,
then each party nay ter;minute this ~leetnet~t as to al~y Pl~~e ~~l~icl~ his rat previously been
col~veyed to the Developer", and neither" pal•ty shall have alry fur•tlrer r•Igl~ts ill" obligations ~vith
respect to the other ~vitl~ 1'espect to the terminated Phases.
5~~~ Acceptalrce n er~vice of Pr•ocess~ ~n the evert that any legal ac#io~~ is
commenced y the Developer against the Agency, sel•vice of process on tl~e Agel~cy shall be
rnade by pe~`sonal ser'~rice upo~r the Agency executive D~1•ector or in s~~clr other lnanner' as may
be provided by la~v. Its the event that any legal action is colnmenced by tl~e Agency agailrst the
Developer", service of process ot~ the Developer shall be made i~~ any lnalrlrel• as may be provided
by la~v~
5~~~ ~l~~lts ~Il[~ ~enle~ies Ar'e Cr~~rr~~~a~i~re, except as otherwise e~pl•esly stated il~
this Agree~nent, floe rights alyd 1•elnedies of the parties are clrr~trlative, a~~d tl~e exercrse by elther
party of one o~" zrro~•e of such rights or rerrredies shall not pr"eclude tl~e exercrse by lt, at the sat~~e
or different times, of airy other rights or r~ncdies for the salve defa~rlt ar ar~y other default by tl~e
other party
~0~~ ~rractiorr dot ~ '4'~a~ver of DeI'aulf. Al~y failrrres o~" delays by elther party il~
asse~~tit~g ar~y of its rights and remedies as to any Defarrlt shah ~~ot opel'ate a a ~valver of a~~y
Defa~~lt or of alry such 1•ihts or" 1"et~~edies, ox" depl•ive either s~~ch party of its right to institixte al~d
r~7alnta111 ally aC~1DnS al" pl'oceedings ~vlarcl~ rt l~r~y deem 11~CsSc~r'y to ~r"~~~C~, ~S~t'~ ~X` ~1]~Ol•~e
any such rights or re~r~edies,
X07, ~'o~~ce r~~je~~~+e~ ~x#clrsiai~ of T~l~~es of Pex~for•rnarrce~ rrr addition to specific
pr"ovisions of this Agleelncnt, perfalrnance by elther• party he~•eunder shall rlo# be deerned to be in
Defa~~l#, and all perforrnarrce at~d other dates specr~ed In thls Aleemet~t shall be exter~ded,
where delays or Defaults are die to; ~var•, incur"rection~ strikes; locko«ts; riots; floods;
earthquakes; fires; casual#ies; acts of Cod; acts of the public e~~emy~ epldemres; guar"antine
z'est~•ictiol~s; freight embargoes; lack of t~`anporta#ian, ga~rerr~met~tl restrictiat~ a~~ p~"iar4it~;
iitigatiot~; rnarrdalnlrs pl`aceedings~ administrative proceedings; lrnlrslrally sevet`e ~veatlrel•;
inability to secure ~~ecessary labol•, materials or tools; delays of any contractor, s~rl~contl•actar or
slrppller; acts o~" o~nissiol~s of the atlrel• party; acts or failrr~•es to act of the Ci#~~ or' any other
prtblic or gaver•nrnerrtal agency or entity bother than the acts ar failul•es to act of tl~e City or
Agency ~vlrrch shall not ea~crrse perfol•mal~ce the Agency}; ar any other car~sesbeyond the
cantr"ol ar ~vitilo~~t tl~e fa~~lt of the party clai~nin an xtel~sial~ of
time to perform.
~ot~vithstat~dil~g al~ytlrin to the contrary in this Areer~el~t, an extelrslon of tlme for a~~y srrch
cause shall be for the perlad of tl~e enforced delay and shall cornlnence to run fro~n the time of
the camrnence~nent of the case, if notice by the parity clailrrit~g srrch extelrsior~ is sent to the
other party 4v~t1~~1~ tl~lr•ty X30} days of the corntnencetrlent of file cause Times of pel•formance
~zr~der this Agreeme~~t may also be extended il~ ~vriting by the rnutlral agreemet~# of #lre Agency
and Developer. ~ot~vithsta~~dil~g al~y provrslorr of thls Agreement to the co~~tr'al`y, the lack of
firnding to complete the Developer' Inlplovelr~ents shah not constitute grounds of enforced delay
plrrsr~ant to tlrls ectlor a?f
~0
I~~ ~Sa~l1 ~DOG73 V 1 12~0272~~~~ ~
~ l
N~t~C, ~e~na~Yds ~omm~~r~icaflnns ~c~veer~ tie ~'~~~#ie~. Any appz"opal,
disappr'o~al, denratid, doclllnent or' of}per l~a~ice ~"Notice"~ ~~lrielr either par"t}? lna~ desire to ~i~e
to the other party tll~der this A1'eernelrt must be ilr ~~~iitin and l~~y 1~e i~elr ~y al~y
colnlnercially acceptable ~nearrs to the party to ~~hom file Notice ~ directed at the address of the
pa~~ty s set far~l~ helo~~, or at any other' address as that ~ar'ty nay later desil~ate b}r Notice.
Ae~~cy: olYrrrr~~ll~ty ~eder~elop~nent A.eney
o~ the pity of aorta Ana
24 civic tenter Plaza
alrta Alra, aliforlria 9~7Q 1
AtterrtlQl~; Agency ~xeer~tive Director
dopy to: trac}lilr ~ocea Carlson ~.auth
6~a Ne~~po~•t elites" ~ri~e, Trite t
Ne~~port ~3eaeh, aliforrrla ~6~
Attention: Thomas P, Clary, fir,
To De~elaper', alita Alra tatlorr I~lstrict, LLB
182U 1 Corr ~at'n~an Avelr~le, quite 9a~
~r~lne, allfor"I~la
Atterrtion: illiatn A~ Witte
Al~y ~~ritterr lrotice, c~ernalyd or cornln~~nicatialr shall be deemed ~+eeei~ed
ilnlnedtately if
~eli~rered h~~ lrat~c~ and shall be deemed received oi~ the t}~ird dad ~'i~orn the date it
~s pastrnar~ed ifdeli~er"ed by registered or• certified rnail.
GU2, T~iansfers o~ ~rtteres~ irr Side or A~~eerne~~f.
P~•ohib~tiozz~ Tire qualifications alyd idel~tity of tine I~evelaper ire of
partic~~lar colrcel'n to the Agerrcy. ~t is l~ecac~se of those t~~~ali~catians zed iderrtity that the
Ae~rey has et~tere into this Agreernent ~itl~ fire Developer. ~'or the period comtnet~cing upol~
tl~e Date of Areerrrelrt a~ad i~ntil fire ter~ninatian of the Redevelopment Pian, lro volulrtary or"
ilrvol~~t~ta€•~ successo~• ilr interest of tl~e De4~eloper shall acgz~it"e any rights ox` pa~~ers ul]der this
Agreernet~t, nor shall the De~reloper hake any total or partial sale, transfer, corrveya~~ce,
assilrlnelr#, sr~l~divisiolr, z'e~nal~eing or lease of the ~l~ale or" any part of the Site ar the
De~Teloper' ~~r~pro~enrerits the~~eon, ~~lly of 1~rl~lel~ is lrereaf~el4 referred to as a "Trarrsfe~{"~ ~~ithout
prior written approval of the Agel~cy, except as expressly set fal~th lrereilra~er~ The person or
entity lnal~ilrg the Tl'ansfer rs referred to herein as the Tr"ansfe~"or and the person or" entity
acceptil~ fire Tl'ansfer is refe~~l'ed to her'eilr s the "Tr'alrsfel"ee."
Perm~tte~} T~~~x~sfers, Not~~ltlrstndlrrg any other provision of this
Agreelnerlt to file colrtl'ary, the Agelrcy approvai of a Tral~sfer' shall not he rec~t~h'ed to eonnectiot~
rvit~h ley of #lre for la~~ing:
~a} Alr~ tr~alrsfers of Phase R-t and Plrase R.»2 of the bite or
assignment of the Ag~'eement with respect to Phase R.« 1 and Phase to atr entity or~ entitles
DaC~aCI1~I~~b73~T131~~0~72-40~~
l
~eacll, ~ "Tax credit Pal'tnel'st~ip"~ in ~~r~lict~ the developer {or lilrl~ted liabili~~ C~l~lpall~ il~
which The Related ompal~ies of aliforrlia, ~L, directly al' ~r~dia`ectl~~ owns ~ controllit~
irlterest~ is a erler"l p~r~#~er` ar4 ~~nan~ing member". Affordable Ho~r~~n ~~~ess, inc. for a
l~rrl~ted ltabllrt~ camparl~ lrl hlcll Affordable Ho~asirl Access, ~nc~ is a lrlanain I~en7ber'~ is
llcl'c~l~ pre-approved as ~ gex~eral partner or' lrra~~atng member of any sucll Tax redlt
Pal'tnersllips,
~b~ At~~ grant by a Tax 1'edit Partnersllip of a purcllase optiol~ alldlol•
1•ight of f
ir~t refirs~l of its r'lllts In and fa ~'l~~se Rr 1 andlo~" Phase R~~ to affi 1 fates of The Related
on~panies alifarnia, ~L andlar Affordable ~o~~sil~g Access, ~~~c, or the tra~xsfer of Phase
R-~ arldlor Phase ~-2 p«rsua~~t tl~e~`etai
~c~ The collve~rallce or dedication of and par'tion oftl~e Site to the pity
or` otller` apprap~'~ate govert~t~ler7tal agency, or the granting of easements or per'lrlits to facilitate
constructioll oftlle Developez~ Itnpro~ements.
~d~ All requested assignlz~ent far fit~at~cit~g purposes ~sr~bject to suer
financrt~ be~l~g col~sidered and approved b~~ the Agel~cy p~zrst#ant to section ~ 1 ~ lle~'eitl~,
illcl~~dill tllc grant o~ a deed of trr~st to secul'e the funds llecess~r~ fol' construction alld
perrnarlerlt fl11~lllcill ofthe Developer Ixr~pro~elrlel~ts,
~e~ subject to the provisions of t~~is A~`eetnet~t, the leasing of Rental
~t~~ts to grlalified persons and llausellold ill the normal course o bus~~~ess~
~ Subject to the provisiar~s of this Areerllent, the sale of F'ol'-Sale
~r1rt~S~ qualified per`solls and households tl~e i~or{mal co>`~rse of b~rsilless,
All Transfea' of the For-Sale Pal•tiorl of tl~e Project and the
cor~`espondi~~ rights and obligatiar~s of this Al'e~117c11t relatillg tD P~aase F and the For»a~e
Portion to pity dentures, PLC, a Delaal'e llllllted llablllt~ COlYlpan~ for` a li~nited ~ia~iit~
cornparl~ in ~~~lllcll ltd ~el~tures, or an e~~tity cantl'alled b~ City ~erltul'es, LLB is the
11]anc~glllg lllelllbel` alld, dlr`ectl~ Q~` l~~dl~"eCtl~, o~~r]s ~ contr'alling lllter'est~ ~"arty ~ell~€~r'es"~,
provided that ~it~ dentures assumes all of the provisions of tl~~s DDA that relate to a~~dlor
c~I~CC~`~~ the FDa'~Sale Port~orl of the Pl'o~eCt pursuant tD an as11117pt1D11 agi'ccI'n~nt for' ass~~a~ent
arld assurnptloll arernerlt} that is sr~brnitted to and appra~~ed by file Agency Executive Director`.
~Ot~vltllstarldll]g all~tlling t~ c~ntl'ar'~' cot~talned to thrs Agr'eerrrent, ar'
otl~er'~vise, ~~pox~ at~~ Tral~sfer car~templated by ectiorls ~~,~a~ or fig} above, file Agency slla~l
release and for`ever4 discharge the Developer fr'arn illy ftlr'tll~l` lrabrllty or' obligation ~vitll respect
to the obl~ga~larls rrrlder' tllis Areernellt as to tl~e Phase to which such assignments} relate,
~vhicl~ release shall include, ~~itha~rt lirrlitatiorl, release ullder' Sectlorl ~2 oftlxe California civil
bode, The Agency shall provide srrcl~ release ire ~vl'iting concurrent with srrcll assigrlnlent or
Transfer' hand it relay be set for`tll ill and applicable I~~~plel~~entatiorl Ar'ee~nent associated ~~ith
tl~e Phase to which release 1'elates~. ~r+om and after` illy assigl~mellt or Trallsfel` underi
ectiorls ~~2,~~a~ 0~4 for all prrr'pases of the Please to ~vl~lch such asslgnlller~t or Tra.llsfel`
relates render this Ar`een~ent ~alld file Attac~~l~ex~ts) the tei't~~ `~De~reloper" shall tl~e~'eafter ~neal~
~ aC0~114~0673~R ~ 31~~~2'~2-~~~ ~
l
at~d refer solely at~d exclusively to tl~e assignee ar Tx•ansferee, and not to t~~e original Developer
~~er•e~rnder or tl~e assignee ar T~•ansferee of at~y other Please,
~n tl~e event of a Tr`at~sfer• by tl~e Develapet~ ~tnder su~bparagr•aphs ~a~ thrarrh
inclusive, above trot requiring the Agency's pr•ior• approval, tl~e Developer nevertheless agrees
that at least ton ~ ~ a} days prior to such Tt•arlsfer• it shall give ~vt~itten notice to the Agency of st~el~
Transfer at~d satisfactory evidence that the Transferee leas assumed ~oir7tly with the Developer
the obligations of
phis Agreement.
G~~,~ Agency or~si~era~ioa~ of ~egrres#ed Trar~sfex•, The Agency agrees that
it will trot ltt~reasonably ~vithl~old approval of a request made pursuant to this ectron ~a~~
i~rovided fire Developer delivers written l~atice to the Agel~cy requesting such appraval. rtcl~
notice shall be accor~lpanred by sufficient evidence regarding tl~e proposed assignee's or•
transferee's applicable oi~t`atlonal qualtflcat~or~s acid experience, a~~d its f~nancia eor~r~itrrre~~ts
and resources, irr sufficient detail to enable the Agency to eval~tate the proposed assig~ree or
purchaser pursuant ~o tl~e criteria set forth in tilts Section a~ and as reasonably detertr~itred by
tl~e Agency. The Agency shall evaluate each proposed transferee or assignee on the basis of its
applicable developrrret~t at~dlor• c~ualificatior~s as it relates to a proposed transferee ~l~a is
obligated to complete the Developers ~mpr•over~er~ts, and expe~•ierice in the opet•atior~ of facilities
sitr~ilar to the Developer ~rnprovetnents, arld its fit~at~cial cotrrrnitrnents and resources, and may
r•easor~ably disapp~•ove any proposed transferee or assig~lee, during tl~e period far ~vl~ich this
ectia~~ ~a~ applies, which fire Agetlcy dete~•tnrrres does not possess equal ar betted qualifications
than the t~•at~sferring Developer, An assignment, assutr~ptiot~ and release agt•eerner~t ire fortr~
satisfactory to tl~e Agency's legal co~ti~sel shall also be req~lir•ed far• all proposed assit~trrer~ts,
ttl~rr~ thrrty ~a~ days after tl~e receipt of the Developer's ~vr•itten notice requesting Agency
approval of an asslgn~~el~t a1F transfer p~tt•s~tant to this section C02, the Agency shall either
approve or disapprove such proposed assigt~tnent or• transfet•, or• shall respond in v~rriting by
stating what further it~for•rnatian, if at~y, the Agency reasonably requires in order to determine tl~e
req~test complete a~xd deter•rnr~~e ~vhetlrel• ar• rrat to grant the requested approval, L~pat~ receipt of
s~~ch a rresponse, the Developer shall prot~~ptly f
itrnish to the Agency such further inforr~atian as
rrray be reasonably requested,
G0~~4 Successors alYd Assigl~s. All of tl~e terms, cavet~a~~ts and cand~tiot~s of
tlx~s Areerrreat shall be binding rtpor~ the Dcvelopc~4 at~d its permitted s~tccessars and assig~~s,
'L~11er~ever tl~e ter;n~ "Deg=eloper~" is used its this Agr•een~et~t, s~tc~~ term shall it~cl~tde a~~y other
permitted successors at~d assigns as herei~~ provided,
602 Assig~~n~erl# by Agency, Tl~e Agency nay assign or• transfer any of its
~•ights ar obligations under this Agreement ~vitl~ tl~e approval of tl~e Developer, ~vl~ich approval
shall riot be ~#nreasonably withheld; provided, hov~ever•, that tl~e Agency rrray assign or transfer
any of its interests hereunder to tl~e pity at any time ~vitl~out the ca~~set~t of the Develaper~
G~~,G ~Io ~•oss Defar~i#.eiese frvl~~ Lial~ili#~~, In the event of a Transfer of
Phase P permitted under Sections ~a2,2 arrd~ar 6a~.~ ~i~ a Default by a Transferor or Transferee
shall not be considered a Default by the other, and ~ii~ tl~e Transferot~ shall be relieved of a~~y
further liability hereunder with respect to Phase P,
~3
DOs~Cl~~00b"~3~f~ 312D~2?2-~0~1
l
60~~ Non-~,ia~ili#y of O~ficiais anti r~~ployee~ a~ #i~e Agency No member, officiai
ar employee of the Agency ar the pity shall be personally liable to tl~e Developer, or any
successor i~a it~te~"est, its tl~e e~etit of at~~ Default ox' breach by the Ager~cy a~~ far a~~y amount
which may become dt~ to the Developer ar its successors, ar o~~ any obligations ~~tlder the terns
oftllis Areen~et~t.
G~~, Rela#ionship Be~veerl Agc~~cy a~i~~ Devclope~~~ rt is hereby acktla~vledged that
tl~e ~•elatianship between the Agetlcy a~~d tl~e Developer is not that of a partnersl~ip ar jait~t
venture and that the Agency a.nd tl~e Developer shall not be deemed or constr~~ed far a~~y purpose
to be tl~e agent of tl~e atller. Accot•dingly, e~eept as expressly provided herein or i~l the
attacll~nents hereto, the Agezlcy shah have na t"fights, powers, duties o~• abliatiot~s with resi~ect to
the development, ope~•ation, mainte~~a~lce ar latlage~nent of tl~e Developer ~tnprovetne~lts~ The
Developer agrees to i~ldem~~ify, hold harmless a~ld defend the Agct~cy from any claim made
against the Agex~cy arising from a claimed relationship of partnership or ~olnt vent~~re between
t~la Agency a~ld the Developer ~v~tl~ respect to the develQprraetlt, aperatla~~, tna~tltena~~ce ar
tnnaetnent of the bite ot" the Developer" ~mprave~ne~lts~
~ia~. Agcr~cy Ai~pr•ovals lYr~ ,~c~ions, The Aerlc~ shah tnarrltalr~ ar~tl~ority of this
Areernerlt atad tl~e authority to rmpleme~lt tllrs Ag~'eelner~t tyro€xgh the Agency ~xec~~ti~re
fit"ectoxk~ Tile Agency ~a~ecl~tl~e Dlrectar shall have the alttl~arity to tr~al~e apps;opal, issue
inter'pr•etatiorls, waive provisia~~s~ request issuance of ~variratats and rnal~e payn~ents a~~thor•i~ed
here~~rlder, ~~ae acrd exec~lte f~lr`t~lel• areemetlts ~includi~~g rrnpletne~~tatiorl Agreenlerlts~ andlor
enter" into amex~dtnerlts of this Agreement oil behalf of the Agency so long as s~rch actiorls do not
rnaterially ar s~~bstantially change ar modify tl~e ~xses ar' development per"n~itted an the bite, Qr'
materially or substantially add to the costs, ~•esporlsibilities, or lrab~lit~es rric~rrred o~' to be
ii~curr•ed by the Agerlc~ as specified ller'ei~~, a~~d such interpr'etatrons~ ~valvers at~dloa• amendments
may include extensiarls of titne to perform as specified in the cl~edule of Performance and any
schedule of performance attached to Irnplemet~tatian A,greemerlt. All material at~dlar'
sUbstantlve rrlterpretatto~ls, ~~arvei•S, ar amendtr~et~ts shall ~'eq~~~~;e the can~de~•atla~l, act~an a~lcl
~vrittetl cansct~t of tl~e Agency Board. ~~rrtl~er", Agency ~ec~rtive Director shall n7alrltaln the
rl~~t to Subtl~lt to the Agency Baar'd for ~~rls~der•atl~n arld acttot~ any roan-~~ater'ral Or' I~an~
substantive interpr'etatiox~~ waiver' of anlerldrnent, if iii his ar' her reasonable j~td~nent lle or slle
desrres t~ do sa f
~lrlrl#~l'~1~'~~, Tllls Agreement may slg~led itl m~~ltrple ca~~nterpar•ts ~vl~lcl~,
~~lletl si~led by all parties, shall constitute a binding ~gr~rllerlt. This Agreement is exee~~ted ~rl
three or•iirlals, each of which is deemed to be a~~ a~"ii~~al,
GDS. ~tx#egrntiorr. Tl~ls Ag1'ee~ner~t carltains the er~tir"e uxadertarld~~~ bet~~reerl tl~e
partles r'elat~n to the tr'ar]5at~0i1 carltemplated thls A,reernent. prlar or contetnpar'a~~eous
agreeme~~ts, urlder'standings, representatiarrs at~d staten~ents, f~r•al ar written, are rnerged irl this
Aree~nerlt and shah be of no firrt~ler farce or effect, each party is e~lterin this Ar•eerllent
based solely uporl the represerltatians set for•tl~ llerei~l arld upon each party's o~~rrl rrld~p~nderlt
investigation of any a~~d all facts s~~cll party deems rnaterial~ This Agreernerlt includes
pages ~ tlr•Ollgl] 6 and Attaeh~nent Nos, ~ throt~gll ~ 3, ~vl~icll constitute the entire ~~~~der'standing
al~d agreement of the part1es, t~at~'Vrtllstand~ng a~~y previous rlegatlatlar]S ar' agreexnerlts between
~acsoc~l ~~~673~t1 ~~zoo~~~-~o~l
. 7
the parties ar tl~ei~i predecessors in interest ~vith respect to all or any part of the subject matter'
her'eaf.
GAB. deal Vista#e ~~'ol~erac onilrrission. The Age~acy and the Developer each
represent at~d ~~ar;rant #a t1rC a~her tl~~t too h~;oker• ar ~r1~Cr' is entitled to and Cor~mis~tan ai~
finde~''s fee in connection 4~itl~ the Developer's ac~~~isitian of tl~e bite frorY~ the Agency. Tl~e
parties agree to defend at~d lrold lrarrnless tl~e othez• pal`ty fror~ arry clarrn to at~y such cor~nmrssron
or fee f~'on~ any broker', agent ar finde~~ ~vitl~ respect to this Agreement ~vlaici~ is payable by such
party.
X09, A#~o~•rleys' ~`ee~, In ~t~y action bet~~eerr the parties to it~terp~•et, enforce, refar't~,
modify, rescind, ar athex•~vise its connection ~vitl~ at7y of tl~e terms or' pra~isians of tlri
Ag~'eet~ent, the prevailing party in the action shall be entitled, its addition to da~rrages, ir~j~~rrctive
relief, o~~ any otlrer relief to which it n~iglat be entitled, reasonable casts a~~d expenses including,
~v~thaut ~ llnltatl(3~~, lrtratlo~~ casts ~~~d ~'esot~able attol'neys ~ fees
Ti#les ~xl~~ ~~p#loI1S, Titles ~tld captions are fir corrvenlenCe of reference ar~ly
and da not def~~e, descl"lbe ar lrrnr~ tl~e scope o~' tl~e lt~tet~t of
~lrls Agreement ol" of any of its
termr~s, ~efer'erice to ect]on nr~~rmbem's a~'e to ectlans rn tl~ms Areemnet~t, Unless expressly stated
ather~vlse~
X11. fax#z~px•c#atiolr, As used iml this A.gm'ee~rrent, masculine, feminine oz• x~e~mter gender
and the singrrlati oz~ plu~•al ri~mmber shall each be deer~~ed to rnclucle the other's where and ~vlrerr the
cat~text sa dictates, The ~vartl "including" slrall be construed s if folla~~ed by the ~vQl'd
"~vmtl~out lttr~itatrar7.}~ This Agm'een~ent shall be interpreted as tho€mgl~ prepared joir~tly by bath
pam'tiesF
I~. Na ~VaYVer, A ~Taiver by eiti~et' party of a breach of amly of tl~e covenants,
conditions or agreements under this Agree~rment to be per"forrrred by the otlaer party slrall rrat be
cam~strued as a waiver of any succeedrt~g breach of the same oxi otlrer covenants, agreements,
m'estt'lctlorls or conditlam]s ofth~s Agreernent~
~1~~. U[~~~~~U~I~II Arly alter'at1~I~, change or' modrflcatmo~~ of or to tl~ls Agr`eernent,
irr order to becoxne ef~'ective, shall be made imp ~~rri#itr and in each i~~ta~~ce signed on behalf of
each pat"ty~
evex•nbil~t~t~ rf arry terry, provisiom~, condition or covenant of this Agreenret~t ar'
its applicatiamr to ar~y party or circ~r~nsta~rces shall be held, to at~y extent, invalid om~
unenforceable, fire r'emalndet• of tlais Agreement, ar the ~pplica~tiom~ of the ter"rr~, provision,
condition ar covenant to persons or' circumstances other' than those as to wham or ~vlrrch rt rs
held invalid ar um~enfoi`ceable, shall moot be affected, and shall be valid amid em~foi"ceable to the
fullest extent permitted by la~~t~
~1~. on~pu#atiari of Time. Tl~e timrme ~n which a~~}r act is to be domxe ~znder' this
Areemm~ent is coiriputed by exclr~dmm~g the fli"st day such as the day esci'o~v opens, and including
the cast day, ~mnless the last day is a holiday ai' Saturday ar rmm~day, aid then that day is also
excluded. The tertr~ "i~ol iday" shall 11]~2~t] all holidays as specified in ectiom~ 670D and ~7a 1 of
65
~ocso~~~~oo~~~~~1 ~~zoo~~~-~o~ ~
. l
t~~e aliforr~ia o~ernment fade. If any act is to he lone by ~ partic~~lar time during day, that
trine shall be Pacrfic Time done t~~ne~
6~G~ Legal A~?~ice~ each party represents at~d ~~ar~'ants to tl~e other the folla~~in:
they have carefully read this Agreenler~t, ar~d rn srnrng thrs Agreerrrent, they do so ~vitl~ full
knaledge of at~y a~igl~t l~icl~ they may lra~e} they l~a~e r+ecet~ed l~~dependent legal a~~ice from
their` respective legal cau~~sel as to the matters set foi`tl~ in this Agreement, or l~a~e l~no~vi~~gly
choseii not to consult Iegal co~~~isel as to the i~ratters set faith ire this Ag~'een~ent; and, they have
freely signed tliis Agreement ~~itl~ar~t any reliance ~~pon any agreemerit, promise, statetne~at or
rear;esentatiar~ or an behalf of the ot~~er' par*ty, ar tllelt` respective agents, e~npla~ee, ar
attorneys, except as specifically set fartli in this Agreement, and grit}lo~rt duress ar coercion,
~rl~etlier economic ai' otlYer~~ie.
G1"1. Time of Lsszlce, Time is expressly made of tl~e essence ~vith respect to the
perfarrrrance by t}~e Age~icy, tl~e Developer of each and eery obligation and eoriditioii of this
Agreernei~t~
X18, ~aoperatia~~. lac}~ pa~~ty agrees to cooperate with the atl~er in this tra~~saction
and, in that rega~'d, to sig~~ at~y at~d all dac~rrrients ~~hich ray he ~'easox~al~ly Necessary, helpful, ar
app~'apriate to carry out the p~~rposes and intent of this Agree~~e~~t iricludliig~ b~~t ilot limited to,
~'eleases or addltional agreements.
~19~ ariflicEs of I~rte~•esf~ ~o ~r~etnber`, off
legal ot` ernplo~ee of the ~enc~ shall l~a~ve
any personal interest, direct or indirect, in this Areerrrent, tor' shall any such i~lernhei`, official or
errrplayee participate its at~y decision relyting to tl~e Agreement ~l~icl~ affects leis personal
interests or the inte~'ests of at~y corparatiail, part~~ership oa' assoc~atlori in ~~vl~icli he is drrectly o~'
indirectly interested.
~2U, Date of Agrcen~e~~t. The date of this Agreement shall be the date set forth ire the
first paragraph he~`eof.
G~~,, ~mp~crnctitatiori of Agrce~~tent arz[i ~ac~r Pease of the Pra~ect, The parties
ackt~o~ledge that, due to tl~e long ter~~ natc:re of the Pr'a~ect and the ii~plrne~~tatian thereof in
tlir'ee phases, it may be t~ecessa~'y andlor appropriate at sane ~11T1e in tl~e fi~tr~re, ar fr'otn trine to
time, for' t}~e pa~~ties to enter iota various Implen~entatto~~ Areerrieilts oi` to athei'ise execute
additional doc~rinei~tatior~ #a clarify and ii~pletr~et~t tine p~;o~visions of
this Agreement, pra~ide fog'
orie or' more Transfer's, andlor p~'o~ride for the iilcorpoi'atian of additional or different f~~ridiri
aiidlar financing saur'ces fog' t}~e developirient and operation of eac}a Phase of tl~e Praject~ ~acli
pa~'ty agrees to cooperate iil good faltl~ to negotiate and enter into such various Irnpler~et~tatio~~
Ag~'eeinents for` each Phase of tl~e Project as rriay be determined to be r'easonahly t~ecessar'y
and~ar appropriate by the Developer and the Ae~tcy ~xec~~tive Dir'ector`, ir7 their reasonable
discretion sirbect to the lii~nrtations of ectio~~ ~ ~tr~plementatiori Agi'eernents entered ii~to
pur's~ra~lt to this section 1 lay ~r~od~fy the terms of this Ar'een~ent as to one or znoi'e Fliase~s}
of the Praect, sa long a such actioi~s do ilot rriaterially ar slrbsta~~tially cl~ai~ge oi' modify the
uses or de~~elopi~lerit permitted an the bite, or ~nater'ially or s~ibtantially acid to the casts,
respox~sibilitres~ oi` lial)llities iil~Ui'i'ed or to be incuri'e~ by the Agency,
DDCSaC~~ ~~~6?3~~131~~27~-000 ~
l
IN ~'NE ~ER~~~, t~~e Aget~cy and tie D~elape~4 i~~ve ~xec~~ted this
C1i~1.+V1314r11~ ~l ~~LV ~~tL ~Vt 1Vt 4~ 44~~~Vi
~~~1.~N1~~ lt~.:l~~~~1J~~i:JN~ A~:lN~
~I` TIC ~~T~ SANTA. AAA, a ubilc body,
corporate and o~ itic
F
~y~~ti~ia J, Nelso~~
Exec~~~i~e Director
AT'~~T;
~~~ia D. H~~i~ar~ ier~ nfti~c o~~~~cil
APP~~Y~D A F~R~:
tradli~i Yucca ~arlsor~ R~uti~,
Ac~~cy pecia~ ou~jci
D~~~~~~'~Ri
AN~`A ANA TAT~DN DYTCT, a
alifo~•r~ia limited iiab~li~ co~~~pany
its:
7
DECO CJ 1 ~~~673 1 ~1~~~27~-~~~ 1
~~~~~I~~~~r i
MITI; SAP
r ,
~ r ~ ~ r ~~w~wwwrw. ? , , ~w..~~ L.~~inm ~i e~ J
WASH{#ti~T(3t~ AV.
~ ~ -
~ ~
T~ ~ ~ ~ ~ x ~ ~.,_......W
y~
' $TAFf~$T
~ ~T r R~~~
_ I
~ _ ~
~ ~
- ~ ~ ~o~
9'€H ST.
~~k~ . •
P
: " '~Y~YY~ ' rF
+ ~ Q "G C
I ~ ~ :cC, lii f 5:, i ~~~y~1
Pt~_o-
~3cC ~t 84 L~#~
I _ 59C' 9 Cv" -
~ 3C C
Y
AANA BL &3 S~ ~ ~ $Y~~ ST. ~ ~ BTli ~T i
c~
I
F ~ I
arr. r ~ r ~ ~ ~ k~~i ~ [atG ~ ! ~ ~
s~~ ST. ~T~~ ST ~
~ a~t~ ~~t ~ ~ w
~ ~ ~
4T~i ~T,
~ ~
~ w
~ ~
~tger~~y ~ar~e~s
C~779PGpC ~1 ,l~ 4~ 'Y• ~ti7 f
oaacacao L # ura Pia e~~es
R~ log 2 - ~
F ~i s
i~aF~~ r1WU~k~V1iU~ ~iV~rl l~~~
e
~~i 1~11~ ~ V ~ ~ 1
~~~~1 ~ ~ ~f~~~~~~~~~~
~ l
3
~M
~11 ~~~HL 1 ~L1 ~7L~T~ ~~~~L' ~ i 1~
! 7` 1 ~ ~.J~~ ~I~ 4J ~~~~j
1, 6a E, lx~t~ t~'ee~ APNf 9~-III-a6
2, I ~ S~xt~1 ~~'ee~ APN ~ 9~4~ I I ~D7
~ ~ . S~x~h S~re~t APN. X98°3 ~ 1 DS
B, AI~I~ITIDNAI~ P~~PE~TIE
~ , a7 Srx~h tl'~e~ APN. 95311 ~a~
II, PHASE ~-2 - AI)I~ITI~NAL P~~PEI~TIES
~ 1 ~ Easy Santa Ba~~le~a~id APN: 3983 303
III, PI~ASE - AI~I~IT'I~NAL P~PEI~`PIES
1 ~ 91 ~ Brawn APN, 3313- a
a9 Bad ~'lft~~ St~•et APN 39-333-a7
~o~ aid a~ Fifth APN: 39~~335-01
~o~ ~~a ~ St~~eet ANN: ~s-~~-a
ATTA~IMENT N~. ~
D DC~a~I t 0~6?31' ~ 3120272-0~~ 1
~ l
AT'~~,~NILN~` N~, ~
LL~AL D~R~~~`I~N
~~i~s R~~
A{~dres~ LPN Legal Dese~~~~~~ox~
1 I 1 N ~ Minter 5-3 ~ ~ 1 ra ~~s~F Lor a ~ 41'LY ~r~ ~ ~~t~
~1'LY i00 FF LOT 3 BLIP F~~'D LOT b BLS i' ~1'I,.1' i 04 Ti"F ~v'i.Y 27.b~
~ N. M i ~iter~ ~ Ti-IERE
~ C~ 1 ~ a~lt~ A~~a B lvd, 983 ~ 1-U F~~rs ro SAh~TA E~sr LDT 2BL~: F ELI' ~o ~'(~~i~
iv L~ 7~1 F~' L aT5 3 ~ s gL[~ F
~ 7~ 9 E. S i ~tii Street ~ 9 S 11 ~0 ~ F~~rs e1BD -FO s~~r~ Ah°A ~~?sr LOT ~ ~ BLIP ~ ELY ~ a ~ ~~tiY
X20 FF(Ah~ ~i.Y 4$FI' ~i'L~` 12~ FT L0~' 12 BLIP ~
~ ? 1 ~ E, Sixth Street 398- 1 ~ ~ ~n ro s~~~~ >~sr ~.or ~L~ ~'SELY ~ ELF'
~o~
S d~4 Lack 395-~ ~ 1-1 ~ FR[]~TS ~n~o SAh~A ~:~s~r Lor ~ ~ ~LhF SELY ~ ELY
50 F`i' THE ~E~F(LOri 2 ~E.i± F h'~ti'i,Y 25 ~
I' ELY SO F~" `FHE[iE~F
G Lacy 3 95 11-1 ~ ~R~.TS ~n T~ s~~rF~ ~~asr Lair ~ ~ I3L~: F h'}~'~.~' ~s ~ Ei.l`
SD FF
7 ~ 1 ~ G 15 N, Lacy 398-31 ~ 3 ~nB T~ S~~'~ E?~sr Lor ~ ~i.t~ F~~T~ s ~ ~
FTLOTSBL~;~
5 G~~ . Laey 395-3 ~ 1-1 ~ ~`i~E.~iT~ Ta s~~~~ E~sr Lor s F •~k sa ~'T ~v
23 fT-
9 ~i ~ 4 SatYta Aria B 1vd. 3 95-311-1 ~ r~~irs ro s~r~ ~~T~ EdST Lor ~ BLS ~ ~~~.Y ~o ~ i`~~~'~
~4LY 74E'i'LOTS~# ~ SBL~~
10 X22 11~ Sa~tta~~~~Blvd, 398,311~1d ~t~rs~i~~ras~~fi~~~~?E~?sTLor~BLh~~~ti~'SO~TEL4't~
f~T(AhD~~ti~ SOFTEL~ ipOFTLO~'54c~Si~LhF
11 2~ G~5 1~. Santa Ana Blvd, 3~$-311 ~ 1'~ i-`i~[~i~5 To s~~~~ ~~~E~sr LOT ~ a~.t~ F E~,Y so ~-€~Ahf~
irLl SO~LOF~#DL~F
1 ~ N, L~.cy 398-311-18 Fx>~irs ~ia>~ ~ro s~h~-~ E~sr Lor s BLIP F ~~Y so
13 G~ 1 ~ G113 1~, Sixti~ S#~'eet 395-311-19 ~~rs ~o s~?h~T~ ~n~ E~?sr BLS ~ Lor ~ roe o>~ ~o~ a~'p
oi± LOTS ~ ~ ~a
~G~9 N. Mir~ter~
~r~~~M~~~r o~ ~ ~
~ocS~~~i 4~o~73~t13~2~~27~-000 ~
~~xase I~~~;
A~~t~x•es~ Al's ~e~ ~~cr~p~io~~
1 ~ 1 N. Lack 395-31 ~-~4 s~~T~? ~~sr Lor I4 8LI:7b(,~I~ LOT ~ ~
~ d~9 N.1,~c~r 39831 ~-Q~ s~~~;~~~ ~?~sr Lor iz BL~~~~I~ro ~=~r~ Lor ~L~
3 G~ 1 N. Lack 395-3 ~ 208 s~?s~~~ ~~f~~~sr Lor ~s s~~~v I0~ ~{At~~i~ s~z~T ia~ ~
L~F 1~ ~LF~ TG
i
~ I Bt'o~~t~ 398-312-1~9 s'a~ AI~~~ Lor IS BLK76IvEL~`~~ Fr~~~~ ~~lr~' ~ Lor
1 b ALl~ 7G
5 G I S N. a~~eic1 398312-1 S s~?r~~ ~~sr Lor ~s $L~;rs ~r~n LO-~ ~L~
~i G22-C~~~ N, ~rfield 3 ~$-312-1 G s~ ~~?sr Lor ~z BL~7~Ah'D Lor ~a DLh ~s
7 ~i2-G28 N. ~~~~~iti 398312-17 sA>~T~~ I~~sr for a~ ~L~7b ~~1' ~ A'FL~'so FI' I.or
3~ ~LI~ 7b
5 71~ S~i~t~ A~~a Bi~~. 395-3~2-15 s~,~~?~~~E~srl.ar~~BL~~~s~~tis'~o~~~?~~=nsutir~a~r
Lor$ 30 To 32 I~ nLIC 76
N. [~~'ll~~ ~ ~ 1 ~ ~ SAA'rA A E~#Sr Lor 3I I~LIy~6 PoR QF Lor ,~Iv'D IaOR of Lor 32
~3LI~ Tb
1 ~ GAS-~~7 N, Lacy 398-3 ~ 2~2~ sa~~~ ~?~F~e E~sr BLI: L~T14 ~I,I: rs ~oR Lor
1 ~ G2~ N. a~~i~1d 398313-~ 1 s~'r~~T~~r~ST Lor s ~L~ Lor ~ 1~L~ ter ~a
1~ 54 FT L STS 2, 3R ~ ~3LR GS
12 $~4 E, ~~~#a A~~~ Bi~c~, 395~313~D2 ~A~~~~ ~~sT Lor ~ BLi~ ~s ~ sa Fr~~r~~ ~ sa ~r tv Sao Fr
Lor5 2, 3 ~ BI.I;bS
13 G23 N, ~~r1`ieid 398-313 sa~~rA E~SF BLK ss I.ors s ~ ~
1 ~ 19 N. G~~f~e~c 395-313~~5 SAGA A~'A EAST' BL~45I.~~'S 8 ~ 9
A~'TAC~~NT N~~ 2~~
D~ 0 Cl l ~~~G73~~ ~ 120~~72-~D~ ~
~~~~e
Ac~~~~~es~ ~,PN del Descri~fian
1 X09 ~~r~e~c~ 3983 ~ ~-0? s~?rrr~? ~~4~ ~,~r Lor ~2 BL~65(~h'D LUT i3 a~.~ ~s
2 9~ ~ BroSVti 398-31 s~h~~ ~r~sT i.or Bi.i~~S suti~ so Fr Ah'~l s~`ti~ ~o~
LOTS i~~ 1~i~i.KGS
3 9~5 ~ro4v~~ 395-~ 13 -U9 sp~~,~{~{~yi~7lht~ £[~SsrT~.opT ~~Ly~[~sLL~a+rS ~s ?a~f~ t~. -~x ~c~r
3Vr i £1151I .}~l~L,~r ~Y~~ l JQ i' 1 .
4 51 ~ E. Fi~~~ Street 395-332~U7 r~zs ~~i~ s Lor ~
5 E. Fi~~~ Street 398-33~~08 ~Li; ~ LOr z
~i ~Q 1 E, Fi~~~ Street 398~332~~9 Lxu~rs e1DD ~ i.Or ~
o~~i~~~e~'3
7 ~~2~~~4 F, S~x~~~ S~re~t 398-333-O1 ~xv~rs~nnaL~~~.or~o
~5 ~ ~ 1? N, itltei~ St}
8 1 E. Fish Street 395-333-~5 ~3L~ ~ LQT s
~5D8 ~ l~ Porter} ,
9 15 F~ft~~ Street 398-333-~C~ ~~~i~-s ~ ~or~
l0 Fi~~t Street 398-333-~8 ~R~1ITSAD~i~L~7LOr2
~ 1 ~0 ~ Fi ftl~ St~'eef 398333-~9 F~~~S ~ Lor ~
~5~7 ~D5 . ~ii~~ter
St)
~ ~ ~ ~ ~ ~1 ~ ~1 Street ~ 3~-~~ i±~~rirs BLIP s Lor s
~ 3 ~G ~i ~~i Street 395-33 5-~~ ?~ian ~i.iti s Lor ~
14 t ~ 1 ~ E. Fi~~~ Street 3958338-~3 i,~~rs ~n~ ~3Lt~ a Lor s
~ 5 ~ ~ ~ ~'i~~~ Street 398-33 5-04 ~~~r~rs ~~n BLIP s Lor ~
1C b2~ E. ~~ftl~ Street 398-335-05 FR~TSAi~1~~Li»8LOr~
ATTA~~~1.~~T
D~COC1i ~~O~i~3~~I3~200272-~~~ t
AT~'A~N.~~T
RE~~DYN ~~~J~STED ~
AND 'BEN RE~D~D AFL T~; ~
or~~tnrln~ty Rede~elopte~~t Aerrcy }
of the pity of Santa A~~a ~
~ iv~c ~ente~• Playa }
~r~ta Ar~~, a~~fo~'~i~a 270 ~
Attn: ~~ecut~ve Dia~ector' }
Tlr is e~ocument is exe~~~~t from payment of
~`ecordlrl fee pra~`saa~~t ~o o~e~~rr~~~ent bode
ecfio~as ~3 S3 and ~ 1 ~3.
GRANT D~~D
Por ~alrrahle cot~sideratior~, ~`eceipt of ~vhicl~ i~ l~erel~y acknowledged, the
~o~~i~~T~ R~l]~~~~oP~~T A~N~ ~r T~~ ~T~ off' SANTA Ai~A, a pr~bli~
body, cor'por`ate a~~d politic ~"Agency}'~, acfi~~ to carry out ede~relaprr~ent Plat
~"Rede~eloptnerrt Plan"~ for the . Rede~eloprrrer~t Pz~o~ect ~<`Pr,oject"~~
r~rrder' tl~ ~ol~rrrunity l~ede~e~oprnerrt La~~ of alifarr~ia, as of ::i 2D a~ hey;eb r
grants to , a
~"~e~~e~oper`"~, the real prope~~ty l~ererr~after` refer~'ed to as the "Agency Parcels," de~cr'ibed
~~hibit A attached hereto acid i~~corpor`ated herein, subject to tine existing easerue~~ts, r'estrictiot~s
grid covenants of record described tlrere,
1, The Agency Parcels ar'e cot~~eyed in accordance Frith and subject to the
r~ede~eloprrrex~t Plan for` the Rede~e~oprnet~t P~•oject, acrd a ~ispositio~~ at~d De~eioprr~et~t
A.greernerzt errte~'ed into bet~~een Agency ar~d De~reloper dated as of ` ~ ; ~ ~ ~ ~ ~a ~ 0
~"Agreet~~er~t"~, a copy af~vhiclr is an fie ~~ith the Aget~ey at its offices as a pubr~c ~~ecar'd and
~~llich is incor'por'ated l~rein by reference The Agreetr~et~t generally z`equir'es tl~e De~eloper~ to
co~~str~rct cer•tai~~ far-r'er~t at~d fa~~-sale d~~elli~~g t~~~its on the Ael~cy Parcels ~"~mpr'o~re~nex~ts"~
and to operate such ~rnpr'o~ernet~ts in accorda~~ce ~~ith tl~e terms of the Agree~nerrt acid float
cer'tai~~ Regulatory Ag~~eetrrent ea~ec~~ted by at~d bet~~ee~~ tyre Agency a~~d Developer and recar`ded
concurrently l~ere~~itl~,
Agency ea~cepts at~d r`eser~es fr`o~r~ tl~e cor~~eyance l~ereirr described all interest of
the Agency irr oil, gas, hydrocarbon substances at~d l~i~~er`als of ~rery kind and character lying
rrrot`e tl~ar~ f~~e lr~~ndz~e~l ~50~} feet belo~~ tl~e surface, together with t~~e right to drill into, thro~~gl~,
ar~d to ~~se and occupy all darts of the Agency Parcels lying t~rore than fvo hl~r~dr`ed ~5a~} feet
below file s~zrface tlrereof for arry and all ~~~r~oses incidental to fire oxploration for' and
pr'od~~ctian of oil, gas, hydrocarbon st~bstatYCes ar rnitterals frorrr said Agency Parcels or other
lands, but ~~ithout, lro~ve~er`, any riglrt to use eiflrer` tl~ sr~rfac~ of
~l~e Aer~cy Parcels ar• ar~y
portion thereof ~~rlth~rl fire lr~~r~dred ~5aa} Feet of tl~e surface for any p~~r'pose or' p~~r'poses
~~hat50~~'e1', or' to ~~e the Ager~ey Pa~'cels In suclr ~ rr~anne~` to ~ dlstur'bance to the use or'
en~oyrner~t of the Agency Parcels,
ATTACH-~~I~T N~. 3-~
DD~sOC11~~073~f~~1~00272-~0~1 ~
i
~e~eloper covenants b~ and fork itself and any successors irr interest that, except
as otixeaise pra~ided or pern~itted ~ la~~, there shall be ~~o discrrrrrlrlatror~ agai~~st ar
segregation vf, ar~y pe1•san ar group of persons on account of any basis listed in subdi~isiarr ~a} or
~d} of Section 12955 of tl~e ~o~~ernrrrel~t bode, as those bases a~•e defirred in Sections 1292,
1292,1, subdi~isian ~I~1~ arld paragraph of subdi~isian gyp} of Sectlan 129, and
Section f 2955,2 of tl~e o~erlrlnent bode, its the sale, lease, srrblease, transfer, use, occupancy,
ten~~1•e, or enjoyment of the Agency Parcel, not' shall tl~e grantee or at~y person clarrrrln ~~rlderi or
thr'alrgh hirn or• leer, establish or• permit at~y practice ar practices of discrit~lination ar seglegatior~
~~ith reference to the selection, location, nu~~ber', use or occupancy of tenar~ts, lessees,
s~rbtenar~ts, sublessees, 01• ~endees in the Ager~cy 1'az•cel; Tile foregoing co~el~ants shall run ~~itll
tl~e land.
~~cept as atl~r~vise provided ar per`nlitted by la~~, De~elaper shall I•efrait~ fr`otrr
I•etricting the rental, sale or lease of the Site ot~ any of tl~e bases listed above to this Section
All such deeds, ceases or contracts shall contairr ar• be subject to s~ibstai~tially tl~e folla~~ing
nondiscr•Irnrnatiol~ or nonsegreatiorr cla~~ses;
~a} Iii deeds: "The gralrtee I~ei•eiia co~ei~ants by aid for' l~i~riself a1• herself, his
or her heirs, executors, adinirlistrators, and assigr~s, a~~d all persol~s clain~ing under or through
then, that there shall be na discrirnii~ation aairrs~ ar segregation of, any perso~~ or group of
persons arr account of any basis Ilsted ~n subdr~ISralr ~a~ or ~d~ of Sectioi~ 12955 of the
o~e1`rrinent bode, as thane bases a~•e defined in Sections ~292~, 1292, I, subdi~isiorr gym} and
paragraph ~1 } of srrbdi~isioi~ gyp} of Sectiar~ 12955, a~~d Sectiol~ 129552 ofthe a~ernrrrent bode,
in tl~e sale, lease, sriblease, transfer, rise, occupancy, fen€z1•e, ar• enjoyrrlent of the p~`e~~llses herein
conveyed, nor shall tl~e gr+al~tee o1• any person claiming ~~nder or th~•ough kiln or hea', establish or
pei'rr~lt any practlce or practices d~scrlr~rr~atloz~ f~l" segregation ~~rth refel`ence to the selectlot~,
location, ~~umber, use or occupancy of tenants, lessees, subter~ants, sl~b~essees, or ~endees i~~ tl~e
prer~ises herein conveyed, The foreai~xg cove17ai1ts shall r`~~t~ ~~~itll the lai~d~"
{b} In leases; "Tl~e lessee herein cavenai~ts by aid far l~iir~self of l~er•self, his
01• leer i~eir`s, executors, ad~r~inistratars, grid assig~~s, a~~d all persons claiming ul~der or' t~~t•ougl~
l~ii~ or• her, and this lease is made at~d accepted upo~~ atld subject to the follo~v~ng conditions.
"That there shall be no d.iserirnlr~ation against or segregation of at~y perai~
or group of persons, o~~ accarint of oily bass listed in subdi~rision ~a} ar ~d~ of Section 12955 of
tl~e o~eri~ir~ent fade, as those bases are defirred in Sections 1292, 1292,1, stibdi~isioi~ ~r~i}
aid pa1•agraplx ~l} of subdi~isioi~ (p} of Section 12955, and Section 12955.2 of the over•r~ment
fade, in the leasing, ribleasing, transferrix~g, use, occupancy, tenure, ar enjoyment of the
p~•ernises herein leased x~or shall the lessee l~in~self ar herself', or{ any person claiining tinder' a1•
tl~roug~~ him oi• hers, estabiisl~ ar pe1•Irri~ airy st~cl~ practice or practices of discriir~iilatiat~ ar
sel•egatior~ ~~rth t•eference to the selection, locatiar~, r~t~r~ber, uSe, a1• occupancy, ~f
tenants,
lessees, sublessees, subteitants, ar• ~etraiees in tl~e prelYllses herein leased."
~c} Irr contracts "There shall be no disct4it~~irtation against oi• segregation af,
any persorr oi• gz`oup of pe1•salls or1 accatint of any basis listed lIl subdit~isiat~ ~a) or ~d~ of
Section I2955 of tl~e ~a~rern~r~ei~t bode, as those bases are defined in Sections 1292, 1292b.1,
ubdi~isia~t ~t~~ and pai•agi•aph ~l} of subdi~ISiai~ gyp} of Section 12955 and Section 12955,2 of
ATTACHMENT ~2
DaCSa~1140~~i73~~ 131~0~~72-4~~1
tl~e overnmelit Cade, in the sale, lease, sublease, transfer",use, accllpancy, tE~ll1~'e, o~' enjoynlelit
of the prerr~ises ~~rhich are tl~e subject of this Areexx~ent, ~aor sl~a~l the gl'antee or' any per'salr
claiming under of tl~rougli hire of her', establish ar permit al~y practice or practices of
discr'irnir7atian or sel'eatlall ~~lth r'efer'ence to the selection, location, nutnher, ~~se or' occ~~pal~cy
of tenants, lessees, s~~I~teliants, sublessees, or' ~eridees in the premises herein conveyed" Tl~e
~aregoing covelrants shall run u~itli fire larld,~'
4, except as other rise exp~'essly provided hereln, the Site oliditian upal~
Conveyance f
corn the Aenc~~ ~o e~eloper shall he "~s-is," ~~ith rra ~~~t~r'~t~ty expressed ar•
irnplied by Agency, lnclud~l~ ~~lthaut l~mitat~on, the p~'esence of ~azar'dous N~aterials or' the
cond~t~on of the soil, its geology, the presel~ce of
kno~v~~ ar unl~.~awt~ seislnic fa~rlts, or ~l~e
s~~itability af'tl~e Site tot' the de~elaprnent p~~rpases intended he~•eu~~der"
Fran and after the date a~~ ~~~iclr Developer colnpletes grading with respect to
any Phase of tl~e Site as e~r~denced ley cer'tificatiQn by tl~e City's ~3ulldllig Of~icral, alld to the
extent that Developer does slat abject rn meriting to tl~e ~n~ir'a~~tnet~tal Condition of s~~cli Please
~ritliil~ terl ~l~} days falla~~ing colnpletion of such ~}atli~~, the ~evelopexi s~al~ raise, release
and discharge fo~'eve~" the Agency alas the City, and their respective ell7ployees, officers, agents
and r"ep~'esentattves, f~io~~n a~ p~iesent and future claims, dclnands, suits, legal alid ad~ninistr'ati~e
p~'oceedil~g and from all liability far' dalnages, lasses, casts, liabilities, fees alad expenses,
pl'esel~t aliCl future ~"Clalni ar Liability"~, ar"icing out afar in any ~vay connected ~vitli flee Site
Condition as it relates to s~lc~ Phase, except ~i~ ar•isirig out of the 4~illfi~l lniscariduct of the
Agency Ol' !ts ~1nplaye~5, D'fice~'s, agents oi' t'epreset~tatl~es; oi' ~li~ if alicl to flee extent tl~e
Developer vale demolistrate to a court of cainpetent jur'isdictioi~ that the A.gel~cy andlor City ~vel'e
t~~e direct al~d proximate cause of the Site Candltioii ~~h1cI1 i tl~e srlbaect matte~~ of tl~e Clailil or'
Liability, including, ~~ithout lin~itatian, attorneys' fees; or4 ~iii~ foe' Agency's ohligatlolis urlder"
Section ~a~.~ of the Agreen~et~t, Upo~~ floe effectiveliess of the release calitemplated by this
Section, the pal'ties acklio~vledge that flee Agency's o~~iler}ship would i~ot be tl~e direct at~dlar'
pl'ax~i~7ate eal~se Of ally Slte Condition if such Site Condition was lI~ existence t tie t~rrle flee
Agency's acq~lisitian and cor~tillll~d during tl~e Agency's a~~rliersliip, Sri the event that De~TelOpei'
objects to the i~~irann~ental Condit~o~~ as desc~'ibed above, Developer inay elect fat flee time rt
objects to the ~nviranirielital CQ11~itrQrl~ to a~C~pt Such i~~Tii"anlnental Condition, in ~vl~ic~~ event
the Age~icy shall reilnb«re Developer far' its actually ii~culi"ed casts of any ~e~nedial fork
~~lidertaken by De~elaper to i'e~nediate the disappro~red Gnvil'al~irlerital Conditloil, provided,
llamaever', that the n7axin7ilm amount of such rei~nb~~r'semer~t shall be equal to the portion of the
Reirledial Fork ~xpeliditrlre Cap riot pr'evioiisly expended pul"Sllai~t to Sectlai~ of flee
Agz'eenlent" ~.i~ flee event of such election, Developer' shall sllblr~lt to Agency a descriptiol~ of the
remedial dark performed, together ~vitla capes of invoices andlol' such other' e~~idence as
reasonably ~lecessary to s~#bstar~tlte such costs gild expenses, and Agency shall r`ein~burse
Developer` ~~ritliili tell days of its receipt of such materials, subject to the cap set for'tlr
liereinabave, If De~elaper does not elect to accept such ~liv~ro~ilrlental Corlditioli in its native
objecting to ~lch ~nvil'onrnerltal Calidition, Agelic}~ rnay, ~~ithin thirty ~3a}days of srlcl~ written
ah
jection, elect its 4~rlting to ertller' remediate the En~irotl~nental Condition to tie extexit 1•eq~~ir•ed
to satisfy De~elopei"'s objection or terlninate this Agr'eemel~t as to the applicable par~ian of the
Site abut not as to a~~y otl~ez~ Phase a tl~e Site ~vlYicli leas closed pr'ior' to such terrnination~, in
~vh~c~i case De~'elaper shall r'ecan~ey the applicable portion of the Site to the Age~acy and neither
pa~~ty shall liawe ally rights or obligations ~~ith respect to the other in cox~nectian ~~~itli s~rcli
ATTAC~~NT N~" 3-3
DD~~~~1I4~073~F 131~0~272-~~~ 1
por•tiar~ of the bite. Notwithstandrng the foregoing, the ter~r~itlatior~ of this Agreement pt~rsuant
to this Section 4 witl~ respect to at~y Phase ~~rill nat rest~lt il~ t~~e te~•t~inatior~ of the Agreement
with respect to any other portion of the bite already conveyed to the De~elaper;.
Tl~e Developer ack~~owledes tl~at it is aware of and familtar• with the pr•a~isiar~s
ofSectlon 154 oftl~e ~allfarnla Civil bode wl~ich provides as follo~~rs;
"A NERAL RELEASE ~~T ~~~'~D T~ ~LAImS WHICH TP1~
CRED7T~R DIES NAT KDw OR SSPET T~ ~~iIT IN HIS PA~~R AT THE TImE
~P ~ECUT~C TAE RELEASE, WHICH I~' I~N4w ~Y HIlVI mIJT HAKE
ATERIALL~ AFFECTED ~YS SETTLEMENT 1TH THE DEB~'~R,"
~'lle De~reloper• waives al~d r•elrriqulsl~es all ~k~gllts at~d benefits whrclr It may lra~
u~~der Section 1542 oftl~e California Givil Cade,
5 Upotl tl~e Closing of al~y ~i~ase, tl~e De~Telaper lrall take all tieaot~able
precat~tiorrs to pre~re~~t the release into the en~riro~~l~nent of any Hazardat~s Materials in ~iolatiol~
of law which are located il~, o~~ or render the portion of the Site associated with the Ager~c~r
Pa~•cels. Such precat~tior~s sl~all include cot~lpliance with all ~o~e~•~~tr~ental Requirements witlr
respect to ~a~a~•dol~ N~ater•ials, Ire addition, tl~e Dcveloper~ slrall il~stall and t~tili~e srrch
equipment and ilplenlel~t and adhere to s~zch procedures as ar+e consistent ~vitl~ cox~tr~ercially
reasonable standards as respects the disclosure, storage, t~se, ren~o~al al~d disposal of Ha~at•dous
materials.
Foilow~n delr~~ery and recordation of this grant Deed, the De~elopez~ sl~all notify
the Agency, and p~•ovide to the Agency a copy oz• copies, of all er~~ir•or~l~~ental perl~its,
disclostlres, applicatio~~s, entitlements or inqulr•ies r;elating to tl~e portion of the Aex~cy Parcels,
inclrrd~r~g natrces of ~rrolatrol~, ~~ot~ces to car~ply, ertatrons, ingl#~t`ic~ Clean-rip ar abatelnerrt
orders, cease and desist or•ders,l`epo~`ts filed pursuant to self=reporting ~•equirelrrents and reports
filed or• applications made pursuant to aril o~er~~t~lental Requirement relatil~g to ~a~ardous
Nlater•ials and t~l~dergrorli~d tanks, The Developer sl~all report to tl~e Agency, as ool~ as passible
aver each inciderrt, arly ul~ustral or potentially lmportalit ilacidents ~vith respect to the
En~iron~r~ental Condrtror~ ofthe poaitio~~ oftl~e Site ilrcluded witl~ilr tl~e Agency Parcels.
X11 the eve~lt of a release of al~y ~a~a~~dous materials irrto the er~~il`o~~nlent its
vrolatrarr of law, tl~e De~reloper shall, as soolr as possible offer the ~`elease, ftlrrrisl~ to the Agency
a copy of at~y and all reports relatilrg thereto ar~d copies of all correspor~dt~ce with o~er•ntner~tal
agel~cies z'elating to the release. Upon r•egtzest~ the Developer shall f«rl~islr to tl~e Agel~cy a copy
or copies of
al~y and all otl~~• et~vir~ol~met~t~l entltletnet~ts o~` int~~rir~ie reratin to or af~'ectil~ the
Agency Parcels inclt~dir~, bt~t not litrlited to, all permit applicatiol~s, permits and r•epor•ts
111Clt~dll~g, ~v~tl~out lln~rtatron, tlrase r•epor`ts al~d otlaer• matter's whrclr may be cha~'acteri~ed as
confidential,
7~ Upon the Closing, Developer a~`ecs to indemnify, defelyd at~d l~old Agency
llar`mless f
~`oxr~ and against any claim, action, suit, proceeding, lass, cost, damage, liability,
deficiency, fine, pelrlty, pt~t~iti~e dal~~age, ar• e~per~e ~inclt~di~~g, w~tl~o~lt lrrrrltatron, attol•l~ey's
fees}, resulting from, al•isin ot~t af, or based upon the Site Conditiot7, including ~~~ithout
ATTACHMENT
DDC~O ~{1 ~D ~~7vt ~1~~~27~-00~ 1
limitation ~i~ tl~e release, ~~se, generation, discharge, storage or' disposal b~ Developer or• b~ at~~
itrdi~id~~al or' entity for ~~lricl~ Developer bears the Igal liability incl~~diz~g, but teat lrrnrted to,
office's, agents, etnplo~rees or contractor's of Developer' ~collect~~~el~~y tl~e "De~elaper Pa~~ties"} of
any Ha~ardorts aerials in violation of
~n~rit'or~rnel~tal I~a~~ ~~~~'ixag fhe per*ia~ txe
De~Teloper~'s o~~rrlership of tl~e applicable Phase of the bite, ot~, urrder, in or about, ar the
transpot•tation of any such Haza~•dorts Materials to or f~'otrr, the Phase of the bite by Developexi or
any of Developer' Patties during the period of the I~e~relaper's o~~t~ership of the Phase of tl~e bite,
ar~dlot• iii} the ~ialatior~, o~~ alleged ~ialation, b~ De~elaper or' at~~ of I~e~eloper Patties of at~y
E~~~irontnental Laws relating to tl~e ~tse, generation, rel~ae, discharge, sto~~ae, disposal or
transpor'tatian of Hazardous atei'ials ox~, cinder, itr oi' abo~~t, to ar Frain, the to dit~~it~ the
period of t~~e De~elapet''s o~~r~~e~'sl~ip of the applicable Phase of tl~e bite. Tl~ts inden~ntt~~ shall
include, ~~ritlro~~t li~rtitatiarr, atiy dat~age, liability, fine, penalty, cast or expense arising fratn of
out of at~y ciairn, actioz~, srtit, ar' proceediirg for per'sorial injt~r•~ {tncludtng sicl~ness, disease or'
deatlr~, tangible ai' intangible properly damage, compensatiail for lost ~~aes, business it~con~e,
pi'~~its ot` athel' ecanatntc loss, dat~tage to the Natural i'eso~~r'ce of tl~e et~~rr'antnet~t, i~utsat~ce,
cantarninatioii, lead, spill, release or other adverse effect an tl~e environment ~~ith respect to the
applicable Phase of the bite.
8. >e~eloper shall indetnilify, defend and bold liaa'mles Agetrcy and pity,
their respecti~re officers, agents, e~nplo~ees acid ~ol~~nteers franc arld agai~~st and and all loss oak
dat~age, expetrses, injitries, death to any person, datrtage to real ar pei'sotral px'operty, claim,
den~at~d, suit, action, jrtdg~rietit, settlement, r~easoi~able attorne~~'s fees, casts, or p~~oceedin of
any kind arising out of Developer's .ctioris and obliatiarrs p~~rs~tant to this ~reetnent,
De~Tloper's in~plen~erttatiata of this Agreerlle~.t, ~]e~elaper''s sec~~~'itag of financing, design
de~elapment di'a~~vings, the enirieering, constructioi~, recox~structiai~, struct~~ral i~~tgt•ity of the
Project, rnaiirterrat~ce of Praject, aperatiox~ and sitbse~uetrt sale of the Project, incl~~ding but not
limited toy
1~t~1~t n]atel'lc~l defects In cat~stl'~1Ctl~r~ oftlle Pt•o~ect;
fib} airy const~~rtctiot~ defect iil the P~'ojct~
~c} personal ir~j~~z'y, including death, afthe et~plo~~ees, agents, officers,
atidfor ~ol~~t~teers of Developer, De~elaper Patties, and~or arty subco~~t~~actor, independent
carrtractor's, pa~~tt~el's, andlor` sl~bs~d~ar~es oi' thrr'd pat'tles cannectlair ~~lth tl~e Plioect;
~d} praper'ty damage claims of the etriployees, agents, officers, andlor
volunteers of 1~e~~elaper, Developer Parties, andlor a~~y subcantractoi's, tndependet~t catitr'actor+s,
parttrers, andlor subsidiaries ar third patties its connectiaii ~~itl~ the Pia
ject;
~e~ delay in canstr~~ction of the Praject beyond fhe dates set fo~'th
ller'ein acrd the Chedule afPel'fari~nance and subject to force n~ajeure; and
~ the failure to make r'equtred real estate disclosures to subsequent
buyers of ho~r~es ate Phase
AT~'AHEN~' N~.
D~~SaC1~ 4~~G73~~1~12~0~7~-~0~ ~
l
4
Developer's obllgatien to ttrde~~trlfy as set forth rlr thls Agreement shall extctrd to
less or damage, expenses, irr~~tr4ies, death to any person, damage to real or personal property,
clain7, demand, sort, action, udgrrrerrt, settlerrrent, reaso~rable attorney's fees, cysts, or
proceedings ~f
and kil~d that are disea~ered or accr~~e, eit~iet• befar`e ar~ aver the termination off'
tlrls Agreemetrt,
~ot~vltlrstandltrg the fol'egoitr, Developer shall r1Qt be required to indetrrrrify a.nd
hold harmless Agency or the City fot• liability attrib~rtable to the active tregligence of, irrteritiorral
rniscatrdrtct by, or breach of this Areerrrent by Agency or the City ar arry of their boards,
officers, er~rplo~~ees, representatives oragents,
9, Developer certifies and agrees that all persons errrplo~red or applyitrg for
emplaytrrerrt by it, its affiliates, subsidiaries, or holding cornpalries, and all subcotrt~•actors,
bidders and vetrdors, are and will be treated equally by it ~vitlrout r`~gard to, or beca~~se of race,
color, religion, trcestry, rrationa oriilr, sex, sex~ral orientation, age, preglratrcy, clrildl~irtlr or
related medical conditions, tr~edical condition ~calrcer• related ot" physical or t~errtal disability, alyd
in con~plialrce ~vi~lr Title ~~r oftlre Civil Rights Act of 1h4, D,S,C. Section X404, e~ serf., the
Federal equal Pay Act of 1~~~, 2~ U,,C. Section ~~~~d~, the Age Disct"tr~lnatlorr i~r
~lrrplayrnerrt Act of 19'7, U,,C~ Section 1, e~ seq., the In~rnigratian Refoz`tn and Cotrtro~
Act of 1~b, ~ ~"S.C, Section 13Z4b, e~ secs, 42 U.~~ Sectrolr 1981, the California lair
Errrployt~rent and I~ousit~g Act, Cal. overtrnrerrt Codo Section 129DD, e~ seq., the Callforrria
~grtal Pay La~v, Cai, IJabar Code Section 1197,5, Cal, overntr~etrt Code Section 1135, the
Arrrericans ~vitlr Dtsabllltres Act, U,S.C. Section 1~1~1, e~ seq,, and aid other anti
discr'irrrinatiolr la~~s alyd regulations oftlre ~trited States alyd tl~e State of California as they rlo1~
exist or tray hereafter be atnerided, The DeveloperF shall allov~ representatives of the Agelrcy
access to its errrploytnerrt recur;ds rated to this At•ee~~ne~rt during t•e~tlar bt~itres lrorrrs to
verify complianco ~vitlr these provisions tvlren sa re~rtested b~T the Agency,
1 except to the extetrt eerrrpt therefrom, the Developer shall pay pt"ior to
delirrgrretrcy all d valor+etrr teal estate taxes and assessments ors each Phase of the Srte
ttt"ibutable to periods subsequent to Closing far such Phase, subject to the Developer's right to
contest irr good faith any such taxes l~olloirr the Cloilrg far" ar~y Phase, the Developer shall
remove oz" have removed atry levy or attaclrtr~errt made on alry Phase of the Srte er any pant
thereof, or ass~zre the satisfaction tlrereaf within a reasonable tilneF The Developer may apply f~rF
property tax abtctrtetrt fi~orn the payt~ent of all pr•oper`ty taxes or assessl~ents dui"itrg the period
of its o~vrrerhip otr ally interest in or• to the bite or` at~y part thereof,
11, The Developer shall carry out the desiglr, canstr~rctiotr, development and
operatiotr of
~lre DevclaperF It~pravet~ctrts in confarrnity ~~vitlr all applicable lames, incitt~irrg all
applicable state robot" standards, City ~orrllrg alyd developrnerrt tatrdards, builditr, plulrrbitrg,
rneclrarrical and electrical codes, and all othet+ provisions of the City's Municipal Cade, and all
applicable disabled and l~andlcapped access requirernetrts, irrcludi~rg ~vitlr~ut limitation the
Arrrer•icarrs itlr l~rsabrlrtres Act, 42 tI..C, Section 1101, e~sec~., overrrtnent Code
Section 4454, e~s~c~,, overntnent Code Sectiotr 111, s~c~,, and the Unruly Civil Rights Act,
Civil Code Section 51, t secs, and alry other applicable overrrrrrerrtal Requlrerrrent~
ATTACHM~T ~C.
D~C~DCII ~00~?3~~~ 3~~~0~~~~~001
i Developer shall carry out tl~e catrstruction through cornpletiat~ of the
Project and the overall develaprrrent of
the bite in canfar~~nit~ ~~it~~ a~ applic~bla ec~e~~~l, state
acrd local lobar lames acrd reulatiox~s, itrcl~rdin, ~~ritho~~t lirrritation, if applicable, tl~e
re~uiren~ents to pay pre~ailit~g wages under federal l~v ~tlre Davis Bacorr Act, 4a U~~C.
Section X141, s~c~~, and the regulatiat~s prar~r~~lgated tl~ere~~nder set forth at ~9 CPR Part 1
{collectively, "Davis Bacon"}} atad Caiifarrria ia~v Labor Code Sectiarr 17~~, e~
Notv~~ithstarrding the fa~~egoing, a~ the Agency hereby ackna~~rledges and ar"ees t~~at rlatll~n
this Ar"eetr~ent ~al~ a~r~ of ~l~e dacr~n~e~t etltered i~~ta h tyre ~er~c~T and the ~evelaper in
c~t~~~ection with the transactiotrs corrterrrplatcd by this Areernent~ itrtended to in~pose orr the
Developer, carrtractually ar~ other~~ise, the obligati~rr to pay prevailing v~~ages under federal, sate
or local la~v, acrd ~b}the Agency hereby represents at~d ~~rarrants ~o the Developer, its srrccessars
at~d assig~rs, that all firnds rlsed by the Agency in corrnectian with this Agreetrrent acrd the
tratractians cot~tetp~ated hereby, includ~t~g, ~vitlratrt limitatio~~, futrds used a~~d to lie ~~sed by the
Agency to acyr~i~'e each and every cotr~ponetrt of the Site, f~~rrds used acrd to be used to pay far
relocation at~d derrrolition of exist~~~g ~t~rptoverrrerrts on the Srte, futrds used acrd to be used to
fir~~d the Agency Laat~ and f~~nds used and to be used to fir~~d ~arnebuyer Asita~rce Loans,
solely constitute moneys 'rater a Lo~v and Moderate rtrcarne Housi~rg ~'~~nd established pursuant
to section 333~4.~ of the ~lifo~"r~ia Health acrd afet~f fade, all ~v~t~ir~ tl~e meaning of
ec~ion 1'~20~c~~~} of the California Lobar Code, The Aetrcy understa~~ds acrd agrees that the
Developer will materially ~~ely orr the foregoing ~~arra~rties in its deterrninatian as to tvhetlrer
prevailing images are r~etluired pursuant to California la~v a~" Davis-Bacon, The parties
acknowledge that a finatrcin structure utilizing certain federal atrdlor stag frr~rding sources anal
financing scena~~ias trot otlrer~vise identified herein gray t~~igger carrrpliat~ce ~~ritlr applicable state
and federal prevailirr wage laws acrd reg~rlations~ Tire applicab~lfty of federal, state and local
prevailing ~~rge lames will be cleter'r~rrred based upon the final fit~anc~trg structure and so~~rces of
f~r~rdirrg afth Project, as approved by the Agency Executive Director,
Tire De~~eloper shall be solely responsible, expressly ari irrrpliedly arrcl legally a~~d
financially, for determining and effectuating compliance with all applicable federal, state acrd
local p~~blic orbs rie~uirements, prevailing wage laws, lobar laws acrd standards, and, ea~cept as
provided above, neither the Agency nor City makes at~y ~;epr~eserrtatian, either legally andlor
firratrcially, as to the applrcabrlrty or rran~applrcabrlrty of az~y federal, state and local laws to the
Project, either ansite ar offite~ The Developer expressly, kt~oritrly and vol~rrrtar~ily
acknowledges and agrees that treitlrer the Agency tror~ City have previoul}l represe~rted to the
Developer ar to at~y representative, agent or Affiliate of Developer, ar any contractor~s~ or any
subcontractar~s~ for the construction or development of the Project, in ~vriti~r or otlrer~vise, in a
call fay" bids or ather~vise, that the work and canst~~~~ction undertaken pursurrt to this Agreement
is far is riot} a "public work," as defined in Section 1?2~ of the Labor Code or ~~trder~ Davis
~3acan.
The Developer k~~o~~ingly and vol~~~rtarily agrees that the Developer shall have
the obligation to p~•ovrde airy arrd all disclasl~res ar rdet~t~ficatlorrs as re~ui~~ed by Lobar Cade
Section 1 X81 a~rdlor by Davis Bacai~, as the same may be amended franc tirrre to Time, or any
other sirnilar la~v or rer~latiaxr. and only if the representation acrd warranty provided by the
Agency to the Developer in this Section l~ re~r~ai~rs true, correct and carrrplete in every respect,
the Developer shall lrrdemrrify, protect, pay far, defend and bald lrart~less the Agency, the City
acrd their respective officers, employees, agents and rep~~esetrtatives fr~o~~n and against at~y and all
ATTAC~NIE~T N~. 3r7
Da ~ O~b"~3 ~F ~ 31~~~~72-~~Q ~
loss, lial~llity, da~rrage, elai~n, cost, expense andlar• "i~~cl~eased casts" including reasarrable
attorzae~s fees, coltt•t acrd ~itlation costs, atld of e~per•t ~~~tnesses} ~vlrlch, In connection ~rtlr
the developlnent, constructlan has def~~ed by applicable la~v} ~11d1~1; ope~~atiolr of the Project,
1~rcludllrg, ~vitho~rt lirnitatian, any and all public ~vor•ks has defined b~ applicable la~v}, results Q1'
arises in any ~vay f~•oln arry of the follo~virr; ~i} the xaoncolnpliarrce by the Developer ~vit~~ any
applicable local, state a~~dlar• federal Ia~v or reg~rlatio~~, i~rcllydirrg, ~~rlthout llrnrtatlan, atry
applicable federal andlor state labor la~~~s or regulatial~s {including, ~vithaut litnitatiot~, if
applicable, fire 1•equil~ement to pad state at~dJor fedel•aI prevailing images}; ~ii~ tl~e ilnplelnerrtatiot~
of Sectia~~ 178 ~ of the ~abaa~ bode andlar of Davis Bacolr, as tl~e satrre Wray be atr~ended fr•orn
time to tilr~e, or any other similar la~v or regulation; andlor• ~rll} fa~lr~re by the Developer to
p~•ovide any req~~ir•ed disclosure ar l~lerrtificatial~ as rec~~~ired by ~abar• bode Section ~ 78 ~ atrdlol•
by Davis Bacon, a the same ma~~ be atnet~ded frorn tilne to time, or• airy otlrer similar la~~v or
regulation, and olrly if fire r•epresct~tatiolr acrd ~varranty pl•ovided by fire Agency to the
De~elaper• In tlr~s Sect~olr 12 renrai~rs Niue, correct acrd complete irr every respect, It is a~;eed bar
tl~e parties tlrat, In conrlectlon ~v1tlr fire de~eloprnrrt c~l~d co~~str~rctian has defined by appiicablc
la~~r or• ~•egultiorr} of fire P~•oect, includilrg, ~~rithout llrnltatlaz~, airy and all p~#hl~c ~vorks has
defilred by applicable la~v ~1' ~'egulatian}, fire Developer slrall bear all risks of payrr~ent or• non-
paylnerrt of
ple~aiiin ~~aes ~lnder• a~~licahle ~eer•al, state al~d local Ia~v o~i r~eulatiolr at~~lo~+
the itnplelnerrtatio~~ of Labor bode Section 178 ~ arrdlo~i by Davis Bacvtr, as the same nlay be
al~etrded f~•oi~ time to time, andlor arry otlrel4 similar la~v or• r•g€~latialr. "~ncl•eased costs," as
~~sed itr this Section 12, slrali lave the mea~ritr ascribed to rt rn labor bode Section 1781, as the
satire nra~~ be amended from tilne to titne~ The foleoi~~g indelntrity slrali sl~r~ive terlninatiet~ of
this Agl•eerrrerrt and shall calrtrlrue after cotnpletlan of the calrstructiolr alxd developlnelrt of fire
Project by the Developer+.
i
1 Pollo~vin delivery and ~•ecordation of this Grant Deed and dui+itr the
colrstr~~ction, fire Developer shall ~~se all reasonable effol•ts to not allow to be placed otr fire
Agency Parcel ot• atry palt thereof airy lien ar• stop notice, If a claim of a lied or stop notice is
ivc~r or recorded affecting fire Agency pa~~cel ol• the Developer ~tt~pr•ovelnelrts or airy portion
tlrel•eaf by reason of Developer's predevelopr~~ent, developrrrent andlor carrstr~~ctiotr activity, the
Developer shah ~~ithin ~lrirty X30}days of such recorditr ol{ service ol• ~vithi~r five days of floe
Agency's dellrarrd ~vllichever last occua~s;
~a} pay and dlsclrarge the same; ol•
~b~ affect fire release thereof by 1•ecol•ding acrd d.eliverllrg to the
A~1lCy s~~l'et~x bond ~n sufficient f01•nr acrd alnount, or otherwise; ar
~c} provide the Agc~~cy ~vlth othel• assr~ratrce ~vlrlch fire A,c~rcy deems,
itr ifs reaso~rable discretion, to be satisfactory fo~~ fire payrnclrt of such lierr or bonded stop r7otice
and for fire full atad continuous protectia~r of Agency fro~n the effect of sucir lie~r or bonded stop
notice.
The covenants estabi fished in this 1•atrt geed shall, ~vithor~t regard to teclr~rical
classi~catiolr and designation, be binditrg far the benefit and llr favor of Agency acrd its
successors and asslgtrs~ acrd shall remain rn effect ltl perpett~lty,
ATTA~E~T ~ -8
D ~CSOC11 ~ Q~673 i 31~~~272-~~~ l
~i~r~a~~~t~e block o~ f~llo~v pae,
i l~l Y~1 R 1~~ ~ Y ~ Y+
DOCOCII~~~G7i~1 12~4~~-~~~ 1
A~NI~~:
~~~NIT~ REDIi~~ELpP~Il?~NT AEI#~N~~
T~I~~ ITS ~F SANTA ANA, a ~bl~c body,
cor~o~~ate and poli~le
~~r~t~~i~ N~elorr
Exec~~~t~e Dlrec~ar~
ATTEST;
a~~ia ~a ~uizr, ~lerl~ of~l~e our~oil
APP~O~E A T~ i"~~;
tradll~r ~~~ca Car~l~orl Ra~r~h,
Aer~y pe~ial o«~~~e
~3E'VEOPE~i;
SANTA ANA TAT~ON ~~T~T,
a alifa~•r~ra lrrnr~~d lr~brlrt~~ ca~~~pany
~~s;
ATTA~~ET N, ~ 0
I~~~SOCII~OD67~~~~ ~f2~~27~-~~~~
11~~~~
~E~A~ ~RIPTI~~ I~~
EHI~ IT` A T~ A'~T'AH~IENT N~. 3
D~~~~G114~4C?3~~1 ~124~~7~-~~~1
1 ATE CALIFORNIA }
} ss.
AUNTY ~F }
~~Y , bei'ore one, ,Notary P~?blic,
~P~~i?~t Na?r?e of rotary Public}
~ersotYally appeared
~~ha pra~~ed to one on tine basis of satisfactory evidence to be the persotl~s} 4~hase ?~a?~~~~} islare
subscribed to tl~e ~vithi?~ it~strutnent and ack~la~vleded to ?r~e that helshe~they executed tine same iii
i~islherltileir authorized capacity~ies}, atld that by hisll~er~their signatures} on tine instrument tlYe
persan~s}, o~i tl~e entity ~?~oil behalf of ~vhich the peror3~s} acted, executed the instr~~t~~e?~t.
I ce~•tify u?~der i'~NALTY OF PERJURY ~~~~der #i~e la~~rs o~'the state of ~alifo?~r~ia that the fare~aing
paragraph is true a?Yd correct.
'ITS my hand and of~ciai seal,
ig~lat«re of~lota~~ I't~bli~
~PT~D~,~L
Tliougli tie d~t~ be~o~~v ~s tiot regl~lred by ~a1~', it i~~~y l~r~ve 4Fa~l~~hle to persons rely~~~g ~~1 t~~e doc~~t~let~t a~l~ could prcvc~lt
fraudule~lt reattac~~mcnt of t~~is form, _
~APAZT~' ~AI~IED B~' I~i~Ii~I~ ~]E~RI~TION ~F AT'I'~.~HED DQU~YII+~NT
? II1d1Vld~~c~~
? corpora#e ~f~eer
Ti~~e~s} 7'~t~~ Or T~Fpe ~€DoetyEn~~~~
? ~~~'tfl~~'~S} ? T11llllt~d
? Attorney-I~i~Fact
? Trustees}
? llardi~~~lCo~~serva~ar ~I~~EnberOfPa~es
? ~t~ler:
~i~~~er is representing;
Na~Er~c ~~Pe~sv~~~s) ~r ~~tt~~(~es~
Dade Qf~oc~ime~~ts
5~~~~r~~} ~~~YeF Than Named A~o~~e
~~0~11~00673~t13~~~~~?~-OD~t
STATE ~F AI~I~~~NIA }
~
~~JNT ~F }
Sri , before Ine, , Nota~'y I'~rblic,
~Fx'ita# Name ofNotar P~~biic
perset~ally appeared
~viao p~'o~ed to Ine ar] tt]e bass of satlsfaetor'y evic~e~~ce to be ti]e persox~~s~ ~vhose nal77e~s~ isla~'e
slr~scri~ed to ti]e ~~ithin iI]Stt'~1~Y7etat a~~d ae~I~o~~rlec~get~ I~~e ti]a# i]elst]elti]ey executed the sai~~e iI~
i~~5~iler'~thelr a~ltilol'1Z~d capaclty~les], and ~l15~]eI'~t~l~il' s~~~at€~re~s~ arl lI]St~'l]1~lel]t the
perso~r~s}, or t~]e entity ~rpot] bei~ai~' of~v~lich the per•sor]~s} acted, exec~~ted tine i~~stl'ument.
I certify ~~trdet~ PENALTY ~F PE~JUi~Y u~~der the la~~s of #~~e state of liforr]ia #~~at ti7e foregoing
paragrap~~ is tI'ue aI]d corr•ect~
rTI~ nay hand aI]d official seal,
Sig~~~~tre afNot~€~~ Public
Tho~~gl~ the data ~elo~~~ is ~~ot re~r~ired by la~v, it ~nny drove ~alc~a~~e to persons relying o~~ t~~e docrir~~ent and could preve~~t
fra~~d~~lea~t x'e~ttae}~~~~e~~t ~~this fo~~~~,
AP~~ZT~ CLAIMED B~' ~IN~~ X]~CRIPTI~~ ~T A~TTA?I~Ii1D DOCItI~~iENT
C~ Itidi~id«~~
? Corporate Dl'f ie~r
Tilie~s~ Ti~lc Or Tyke ~~~~c~~~~e~~t
? ~art~~er~s} ? ~ll7lltl~d
? ~enera~
? Tr«stee~s~
? Guard~a~~la~isel-~ator Num~e~ ~~Pages
? Otl~er;
~gne~' is rep~'esettting;
Nar~~e ~~~'e~san(s~ DF ~;~tit~~~ies~
date Of Doc~x~neE~ts
5ig~e~~s} QtlYer'r#~an l~an~ed Aba~re
D~~~~11 ~~of~?3~' 1 ~1~~~~7~-o0ot
~U~13r~1
Sa~#a Aria - 8#ati~r~ a~st~i~#
i"or~ai~ Proi:~rlrna
Agri[ 16, 2~1D
s~r~
Land Aria 2.24 saes
~rodc~ ~}pe "€o~~nes
14.b5 u~r3s ~
~E
~ 5~ th ~ a# f3r~Ys rtotat Va~re a e~ t1 ' ~ _ot der
P~ # # 3fi8 3 ~d1~.5$~ 95 3 760 ~ 254 182.T6 44.386
Ptah 2 1550 ~ .513 8 2~ fl00 275000 177.42 26.04
plan 3 - S~ i 358 3 ~dr2,5#3a 3 94~ 000 300 t~ 219.;4 10,~5~6
p~ ~ ~Aitotda i 368 3 t58~ 3 664400 22D 000 160.82 7.816
n 2 -Affad~ #554 3 ~d12,a 2 4~D 000 2~4fi 040 (68,46 5,8{3~b
flan 3 - d ~ 368 3 ,5$a # 270404 2T4004 1$7.37 3.
5ubtata~ 45 58 1 ~2b 3Z S 27 Q04 268, 189 91.8T 1~
1~~i1LAf IF7,ti+~j.a~ - G`7~s~ ~~3~it@ 1J! tl ~~'r_ ~ a
~ pterr~ms 0
fo~ai a ens 8,450,040 264,083 X85.32 500.00°6
C, DST _
r;~~'~~`~0: ~ - 4,00,
Q~Sa'~B stS #,254 40000 28.41 i5.15~
pia f'e~ 35#3444 10938 7'.68 ~4.14~
GaVer{urren~ ~ee~ 960 30044 23.05 i 1,356
~irds#~ed Lit Cas! 2,5$fl,~0 80,538 5fi.t#0 30.6~r~O
13~~ son 2863 740 617 65;E~ 35.47
~ ~ 8 Ob0 4.21 2.27
t~ Cis 80 ~ 2500 1.75 0,8r°~
Ca ass aa~ s e~ s.7i z
~ fa]ca~ ooa ~ ~4 o.~s 0.47
f 28 00~ 4004 X81 1.519
~nsr~r~noe 168000 5 281 3.7f 2a
1 GB 404 5 281 3,11 2r00~
(3Yerh~C 2S3 540 1922 5.68 3.0
Otter Ga «zed ~,4fi4,244 134,133 99,33 49.28-0~
~e~ a~ point 84 504 2 S41 1,85 i,UO
# of Ca a 295 760 7 X82 fi.49 3.5,
~o~ Oao;~~i~d ~nanctn~ F~esllnter~sl 360,250 14,433 8.?34 4,50
TOTAL GOSZ ~ &At_~S Tr434F490 2~9,i03 15.47 84.43"~
G~O.S$_~,4i~~1~ i,315,59D 42,959 28.85 15.5x'
Co~rr~s~s' Casty 253 544 1822 5.56 3.00'
set EJla~ic~#" 128 760 3 9$~ 2.76 ~.50~a
nz~ 54 g~ i 700 #.i8 0,50
Teal Seili~ f GRA o~~ 434,694 13,683 9.53 5+00~
884,8fi0 28,3x1 49.32 i4.5r~s
DDC~~I1 ~~~b73~~~ 3120272-~~~
AEYEi.OF.'~t~&~Cp575 & Yzi1(~IBI,E BASiS DE'fFAbit.'3ATI4~
S~~Is,~ea 5tstlffa DEstrict - PAasG ~ • 34 uaF~ -10~3#i ~9i ~ r3f
DevaktPr4Fos~t 1.4
1Zeirts~ Cc~~a~~s o~Cat~er>sEa
Priofe,~ ~ ~fd'10 at 14:4 Ali
74 s:alts 1'fidG 7`C~C
Ba a t~6ls 8~sts
AC~[!LS[TiOAI ~{335T5
S4 f~5 0
• ~.o~s~ Coal 50,[
~4 L~ G
P~tOF4rSS[a'i~[,~ES
,ls~`r k Ec~sau_~ #,Op~,[~0 37G3S x,[~o,04~
4t~er 1~artsiaa~] # Ca~'~3 ~ 044 ltY,i: T~
L~l
3~7~A~.F~~~. 3,~7~t~T_ G!,i
1~0~1,000
~~Sarrt~>a~~irr5 a~~o,04~ t 2,2t4.OC~
CO:~IIti:~4~ CAST'S ~ 0 {~4-4 4
0 04S 0
~a 30~Q4+~ 10 SQ~,itiC4
~ -C~ F'~, "1'4 2~70,Oti~? 0
S~a 1,?~,9~?p ~4~ 1,23+x,044
Arr1F'a~ 3,TJ~,G40 lL~?9i 3775,W0
It~~ca Astas 975,OCti] 1iti435 ~JG,{bJ
Rcs'dr.~Sstc~~ts 7,719~?1 144 9,T19,3T2
4t~ Casb•xt~ 343,f~0 1[~',`. 3i3t{4]
Rtt~ CCi~ + ~ (xx1 T~s~ 180 # i ~
fiac~era] CCS1'~Ors ~S,G~2 lD~#s 593,G7~
C.tr~alx~~ea3 kd~,S±6 1+Xt~ d~7,335
C~~rFra~ ?43~B~d 1 743,84!
2SS,G96 259,495
~~?&~Prar~~ns 4 ~ ~
C.ai~ Cc~tr~.y €b3,073 1044 ,4i3
R
.C~tt~~ Sees -!~'aa Ci{t 0 14~1'~4 0
CVP.it11C~~ D~~gzLSx4 ~ 14G9i 4
Tt~
f'11L ~4NSf RI1L~0,V {'g 1 ~ 2 3~3 Lai '11,7#~},Qd9
Ff~,L~ClitO C
~ ~ 47i C
C~~ t 34+4L~? ! 0,1.4 5~1,GUU
C~~i~d~tf iS,tLO 3GG4S ?S.LLO
~~af,oerrFccs 1x#,#~~ 1C~4 122,0}0
Cc~*~c~~per'~~~ereat 501,x! t{L!', 901,tfA
~t-Cars~~ #s~srst 3~7~L~7 - G!4 L
Fo~~Y.t i~ t.a~ TS,A~ 0~ 0
~rtr~a~ F't~s 3V,4S~ 0~ 0
Bari 1s~aaao D 0?~ 4
3 C',e1C Fees 97,G?~ D°.i 4
:+~a, »-0 ~ 033 0
IO'FAi,~v,~'Cfh'LiC4$`~5 ~s3#J~(~0 0 a 7dS,
O]REl~ CaTiS
F`~xts ~ ~t 230,Ot4 l4Gl5 ,GC9
~'~e~ 14~4C~ 4~ 0
i 04~4~7 30`.~ #A,O~
Prc'Fsrt}~7`a~es 25,4}4 ;ifi 35,Gi~7
5aPt~skG~^*~acy 100,{f~0 ~ 104,4CA
Accgrrf 1~j-a~a 4t~[+74 3I~a}T
1)nr,'ogerQs~~~.~.4 1,'340,040 ?u€S 7C4~~3
1,t~OGa 7GSi 704,+34t}
C~tslRea;s~es 1 2V7 ~S 0
T01'AL~~FiC't~S 3,20~~f! L"~4 xt4~Ctti3
r
ror~€.n~v~~roos~s $26,41Q79~ $3b,43d,0-i3
~ ro€~, ~uv1~t~~~1~
roi'~t.s 1~mucr~~i~. v~r~ rt~e~at3 io,1 too
~ros~€Q~nn~s~~~a~s ~3,~
~r~~~~~ ~
T~N.~i~DEi~L~BAS#S t7,Sd7,$5+~
C2~ks art 1L~'f,
ror~l.~v~F~Bs t9,~i7,8
~r~l C1
n~ Re~e4L,r. b~ D
rar~,kn~s~~t~~oaa~s ~~,~tr,ss~
DOCS0~11~~~6~3~~131~~~272-D0~ ~
l
~~L-x1J~ ~'lr
~~YEiAFAtEiYT C`~15rt5 !Q EG1G}B~ ~AStS DETE RlIt1 YA'~TO~~
+Si 4C11~E` I ,S~ttl4 ~}`i~C11t t?b.~fa tt - ~}t# II1ili1- ~ ~~.ae 3~1~ (~R
~Ctil~4FSk~~~f811~1~,7
~!~$tL'~ t'ofl1~A~l1 Q~{'A~4lAta
F3 c~ S136f14 et 1d9~Ald
~S ~alt~ TCAC 7C~i~
1#odgr~ $i ~tigi5ta EHdha $as#~
+~~Q~}5}~'i4Y CtiO~S~
t Pict ~4 0
o~er~[t.~ca~s sooty o3s o
~oF~u,~ow~rts s~o~ o~ a
r~~~to~u.
I~a~~.zg ~5qc¢] I~i9i t~0
~rPrn~e~Ua.31~~ h~ 1GY6 U4D
i0~'AL FRQF~O:U~L F£F$ 7 4~3 D4; g~q~{~
F~ESAItiGPI:[t&iFTS 1,t~04U 1 f,~~[U3
~4~'kSfRl.'G"f}~~C~t36~ G Usi ~
4 GSfi 8
a ia~os ~ l~'hS 34~Od7
Feu • ~ .3'V~ 4
?aF&' 0 1pYi ~
t$'~%ca's~1~,aAr~3 I~~,9W }p~s+, 7i7,4W
RssSrs 3y#3'~b52 1G~'!`a 3,S34,b}2
der Cc~a~u~ian 4 ] [ 0
Ro-~ Ce~a f .~'}~rk^#, i7a7 0 p~ ~ ~
iCYra~ 3SS,359 1 353,319
Ce~actt~t~c~ i45,}33 ]Up~$ 2A6,t33
(x~i~~aa:e 14t,2rr 1b4h: }01,m
C~s~,so Prey 0 o
kes:'.S~c~res-h'~CC 0 104^.5 p
8~~ _ _ G _ i0.4'~C _ 4
~E?YALS~tiFCT90NC+~5~"$ #,19$254 ~ 0!i ftiy75,1Sd
iG iiy{!l11C a~V 41?713
A+vg~,7ao ~ p ~ 0
fkas~sm 35~7,L43 1L~ifi 7i4,4L~0
C~ Lc+3d Facts 63.i{~ } W~~ W,4Ci}
'dw~{x3P~aiodL~"C#cst 2~77,t;~ 144'x' 247,G44
l~;~[e5t E4?.~1 01; 0
f
Gr.~~rt I,C~G~sb 7~,f~} GTi 0
Pert !mss Fats ~ 3,OD4 #s6 G
Eicnd ksta~ce 4 0`~ 4
rcacr~., s~,a~a osi a
ioa a ~i ~
IDTAL r~A'}3 CxJSI'S ],33 OOi} 0°i 1.G~i,~:~0
OI}~~C~SfS
~`p, F'~es k €.~ss~~ o its C
14~,f{~] OK 6
1L~W+3 34}'0 :+~3.~W
FtoperlyTsRZ~ 24,0+50 35 a }5,{~
Salt Cu# ? r~eac~r lOQ0~74 } 4`~i'~ ?D4,{~U
1 A~ ~ 7y~~ ~ ~ ~
14t~1A~'3 f I~~tix FWD 143,044
Q~nlc~Dwa#r~ 35J,444 93: 7~h},P?Y
~t Few 7S4,C~C4 4355 ?+~1.00~}
~erCO~tsl'ri S2~9G ~a 0
TOTAbD&YF3,p,7'OaSTS 5l4,G~,245 SI?,8!3,235
E ~{kTAI. ~iB~I.6 p?~5
i
QYAL &i ~ S ttE a[IG7i4~} (Ar.~t c~# A~.y`~'ad i~iai~d ld $sss tom) (4,452,~:ip~
Y~ru, ~s€~ o ~ ~,~sts 7,19~,~$
teos~~reana 13
'~VFAL ~4DNS'1€pE1~G. ~,15~3 9~'
35,1 ~2
A~ " Frac 1403
TO'FJU.Q~hi.[FfE~ B,~5E5 9,33i~132
T 4'e~ Sao ~fri ~
f0~',~t. ~d[IST~ ~I3~LIFIID B!?5S S 9,355,13
D OC~~~114~~~73~~ 131~~~7~-00~ 1
I
A 1 TAC~iVIE~IT ~
~OP~ D~V~I~~~'M~1~iT
~~A~ 1'l3i
project Description
Tl~e Phase ~ project ca~~sist of ~ far-sale s~~~g1e fan~il~ l~on~es inclt~ding ca~nbinatian of
attached ~;o~ ~~o~~es and ~l~~le fa~n~~~~ detached llo~~sf Tie de~elo~n~ent ~~11 lie con~tt•~~ete oil
c~~re~ OIl lx scatfe~'ed sites ldent~~ed on the lte as cc~~t ~}ay `~~at ~~sx ~`~4t #s~ ~at ~~~x
~~f,at and "Lat F," Dt~e ~~nit ate each a~ bats A~>~ ~~~i11 ~]e rese~•~ed to ~e affordable to a
Moderate i~~ca~ne l~at~ebu~er~ The Moderate I~~ca~r~e ~~nits mill be deed restrlcte~l for
affordability to ~uallfied hotnebu~er+s.
Tire ~'i~ase F pra~ect is designed as ~ stark ~•o~~ ixo~r~es ~~si~~g at-grade ~~TaOd frat~e constr~~ctiat~
with X11 parl~lt~g pra~ided ors site in detael~ed garage struct~~res at~d ~ story single fat~il~ detached
hates ~sir~g at-g~•adc ~~ood fra~~e canstruc~ian ~~itl7 all pa~•king provided ot~ site its detached
garage structures, Parking ~s provided to satisfy tieq~~irements of the Transit caning ade~
~'oter~tial Acquis~~ians
911 Bro~~n, ~a9, G04, and ~lftl7, a~xd ~~9 a~~d 4I i M~~iter lave bee~~ identii
red as potential
additions to the Phase F project l~auld the Ae~~c~ ac~ulre or gain car~froY of
a~~y o~• all of
these parcels ~~itl~i~~ tine timefra~ne contet~platcd b~ tl~e Agrec~~ne~~t, de~elap~r~ent ~~ould be
expanded to inclEZde Grp to an additional ? reside~~tial u~~~ts ~~~]cl~~~lta code required 1~arkin~ an
by e~pai~dir~g tl~e Phase P design co~~cept auto the additional pareel~s~.
igr~s
All sigt~age an the premises shall lie designed to meet applicable zoni~~g caries.
arl~iscapitig
i'raject la~~dscaping shall be des~g~1ed to ~x~a~irt7ize appartut~ities far an-site tottrl mater
detention in areas not r~tili~ed far b~~~ldl~igs, drivo~vays and parking. >.~andscape elet~e~~ts nay
inclr~de pla~~te~•$ tee;races, trees decorative ~~?al~s, sc~'eenit~gs a~~d pa~it~g e~e~~e~~ts, ~'lat~ted areas
mill be e~l~ipped ~vith pernlai~e~~t ~vater sp~'inkler s~stet~s to ensl~re proper ~r~ainte~~ancea in
additio~~ to landscapit~g~ Got~man open space is to ir~cl€~d atnet~ities such as barbeques, benches
andlar enhat~ced paving, ~vhere pl~~;sically feasible Fit~allandscape plan is s~~bject to Agency
~+evt~v and approval,
ATTA~M~NT N~. 5-~ ~
D~CSDII ~~D~?3v13i~4~~7~-~0~!
U~ili~ieslPub~ic ~n~p~`avemerits
~e~eloper• sl~ll be responsible for uti~ty relocation or installation an tl~e prernises ar~d lookups
to sewers, drains, water and gas difr•ibutier~ Iir~es, electric, telephone and AT~I lines, and far•
hookup fo all other public ~rtilit~ lir~es~ Tl~e project will include curb, gutter ar~d side~~alk
replacement around the pe~•rpher~r of the project site wlere r~eeded and all ~recessar~ dedreatrons
ar~d irnpra~rernents to establish 17~' x ~7" corrier• c~ltoffs at~d ~~heelchai~k ratnps at street
irtterscc~ions, The project shall also ix~cl~rde installation of and r~eeded water laterals as well as
sewer irnproven~ents as re~~~ired b~ tl~e Land [use ~rrtitlerner~ts.
~zstainabitit~
Tile Phase ~ de~elaprne~~t si~aii be des~t~ed to acl~ie~e a edified L~i~D level of des~g~~ and
canstrrrctior~ as esfablisl~ed b~ the Green ~~~ilding council LIED #'ar Barnes program,
Tl~e LEEi~ for ~on~e prograrn will ins~~r•e; ~rldaor~ En~iror~me~~tai Quality -the l~ornes are
desigr~ed to rnai~nize fresh air it~daors at~d rnrnrmi~e exposure to toxins a~~d poll~~tants; ~t~er~
Ef~icier~c~ -the Karnes will «se less ex~erg~r through the life of a Douse; water ~f~eier~c~r
I~ort~es wrll use rr~no~atr~e strategies to reduce a Dome's water use acid to end creature wa~Fs to
r~e~zse water; Site selection -the l~o~nes are close to schools, swopping, ~vorlC and triat~sit; Site
~e~eloprnet~t ~~o~nes ~~iII avoid destr•rrcti~e construcfiarr practices and iaa~e landscaping and
other elemerrts that prefect tl~e lard wi~ere the home sits; Materials Selecfiarr ~ l~ornes ~~~ill use
r+esponsibl~ obtained rnaferial e~er~~~I~er•e possible; Residents Awareness - lrarnes will star~ds
as a~~ eatnple to tl~e com~nunit~r of a well-b~~ilt Larne and e~~~o~~raes others to lire the same;
and ir~rro~atiox~ ~ ixanovations ~~ill be ~rsed to increase a l~orne's per•i~orn~ance, taking into account
local and regional needs at~d prornoting d~~rability for a long-lastrn, carn~'orfable borne,
~ircllyded I'cafur•es
• Stainless steel ender-co~~nter ~itcben sinl~
~ Tile kitchen countertops
i~itcben + Delta fa~~cet or eq~ral
~ Phone line
~ 113 lip garbage disposal
A liances ~ whir•1 owl Stainless teellBlack acka e ~
pp P p g
ATT~~~Mi~NT 5-~ I
f
• Standard ~~A system
• cl~lae it~ter'iar chrome i~ard~vare or equal
~ Dual glared ~o~~w~ ~vinda~~s
Thro~~l~out
~ Standard craf~~ne~ stile rnaPle cab~rlets thra~rgho~~t ar equal
~ ~ 2x 1 ~ t~I at e~~t~'~'
• Energy-ef~cie~~~ ~~ater ~~eater
ar'a. e l Exter'iar" ' Rain gutters at frar~t
• tz~da~~d ar~a ~ char' o e~~ers with rernates
P
P~~nily Room • Pl~o~~e data cable lines
Sccat~clary Bedraams • Phone Idata cable lisle
• Pibe~"glass trlblsl~o~ver combo
B ate . .
• c~lt~~re ~r~a~ible vanity
~HA~ R~;
~~~ojecf ~]esc~~ip#ion
The Phase Rl Project cor~i~ts of 7~ multi-fa~n~~~ res~de~~tial units designed to Provide a~~'ar'dable
re~~tal ia~~sin for fat~~l~es, ~vrth one rrnrt reserved f or a fill-tirne, ors-site ~~•ape~~ty manager. The
deveapn~ent mill be constructed ors aPPra~irnatly x,44 acres on the block bo~~~~ded by Santa
Ana Bouievard~ lacy Street, Sitl~ t~'eet, and N~inter Street. All ur~rts rn Phase R~ ~~rll slave
lang term affordabrlrty co~er~a~~ts ~'estr{icti~~g tenanc~r to qualifying hausel~alds.
~r~ addltlan tD the ~"esidential units, the Project ir~cludes ot~-srte r~a~~ageme~~t offi~~s, lntc~'~or'
r'esrderit cornett#t~lty space ar~d gro~~~~d Boar retail on the car{nr of Lack anti sixth Streets A
portron of file cornmur~rty space mad be nude available for child care cans~stent ~vrtll the terms
of tl~e Agz~eernet~t,
Tile Project is desigr~ed v~ritl~ an inter4ior, at-grade pay"ki~~g Podir~m that is ~vraPPed ~~ith t4va-story
to~vnhornes along the rnajarity of the street fr'or~tage. Additianal to~nhome r~t~its ar'e ar'rar~ed
atop the podium a~'ot~r~d it~te~"iar col~r'tyard spaces,
The ~~'ojcct will incl~rde ~3 3-Bedraorn acrd 51 ~-Eedroorn units. Residential harking will be
located ~vitl~in tl~e at~grade podi~rn~, crest and retail Parking is Pravided arl site at g~'ade along
sixth Street, Ali Parking is provided an site in ~'atios that satisfy the requirements of the Transit
~or~ing fade.
ATTAPIMENT 5-
D~C~~~1~ ~~~673v~ ~1~~0~?~~~~~ 1
~Ot~Ilfl~l ~C(~LL1S1f~~11S
~a9, ~ 1 at~d ~ 17 fast Street, tl~e Seg~~ra Properties have been included tl~e Phase l
conceptual site plarl, , Slxtl~ Street is the only property ~~ith~n tl~e city block cot~tatntng
Phase ~l that is ~~ot at the time of this At•eement rnclude. rn tl~e Pllase R~ de~elopn~ent,
Sl~o~~ld tl~e Ager~c~ aeq~rire or• gain control of this parcel ~~i~hin the tirnefran~e conte~~npiated ~
the Agreement, the parki~~ a~~d site lat~dscapi~~g ~r~ay be reGOr~figured to integrate the site ir~ta Abe
site plat. ~~erall de~eloprnent pr'ogr•ar~. atld parking rattan ~~~a~rld not be affected by this
re~arlflguratran.
SIIIs
All inage o~~ tie p~•ex~l~ses shall lie destgt~ed to meet applrcable ~or~rng caries,
Laildscapi~~g
Project landscaping shall b designed to r~~ax~nx~~e oppo~•t~znities for• ors-site storr~4~ater detention
its areas ~~ot utilised fat` b~~lldlrlgs, dr;iveays ar~d parking. ~and~cape eletrrent trta~ i~ef~~de
planters, terraces, trees, decor'ati~~e ~~'alls, screenings, barbe~rres, berlclles~ at~d pa~i~~g ele~r~ez~ts,
Planted areas ~~ill be e~~ripped ~~itl~ pertr~ane~~t ~~ater spr4i~lkler systen~s~ Pir~al latldscape~a~rtdoor
rnenity plan will be ltbjcct to Agency ~•e~ie and app~•o~a~~
U~ilities~Priblie ~n~~~~rave~ne~lts
Project will include utility cannectiot~s and hookups to se~~ers, d~'ains, v~ater and gas distr•ibutian
lines, electric a~~d teep~~one lines, Tl~c project v~rll rr~clude curl, gutter and sidewalk replacement
around tlxe pe~•ipl~ery of tl~e project site ~~llere needed and all ~lecessar•y dedications and
it~~pr•o~renlent to establish x I7" corner' cutoffs and ~~heelcl~aiti ran~ps at street intersections,
Tl~e pra~ec~ may also rr~clude se~~er, street, at~d ~~ater trtait~ inlpro~ren~ents as required ~y project
Land use ~t~titleme~ats~
~Ill~~llt~~~
Tl~e project ~~~ill l~a~e an an-srte residel~t ~nanaer~ at~d proper+ty ma~aage~ner~t offices arl site, It
will include a co~~nr~~zx~ity roozn atld ors-site laurrdr•~ facilities. Multiple courtyard areas ~~ill be
prodded as co~~~mon o~~tdoor• space atop tl~e p~r'krng podium, ~r'aund floor' units ~~ill l~a~e
stoop~porch areas oriented ~o tl~e street. Public at•t ~~ill be p~•o~ided eitl~er• onsite or• offsite
corlsrstent ~~rr~lr the ~er•r~s il~ tl~e Agreement.
ilf2~lllc~~~~lt~
The project ~~ill incl~rde se~e~•al key s~~statna~brlrty Features to errs~tre efficient use of natural
reso~~rces, These may irlclude use of mater ef~cter~t fixtures in batl~tiaa~~s at~d kitcllcrl, use of
lo~~~ ar• rro-~0 prin~er•s, sealants and adl~iesives, rtsc of natural ~e~~tilatiorr ~~l~ere Feasible andlor'
use of recycled b~~rldtng t~.a~terials,
ATTA~~NT N~. 5-4
DOaC1~ ~~~6~~v1~1~~0~72-~~~ 1
~IY~I11~I~S
Tl~e ~raje~t ~vill co~~t~i~ tl~re ~nM~ate ~a~zt~d~'Y fac~lit~es ~o~e fo~~ each of three catter~d ite~~~
~~~oject ~'elde~lts ~~~111 lave access to the cammt~n~ty raom ar~d pr~arat~~Y~in and services
provided its tl~ ~'hse ~ 1 de~eloptr~e~~t~ ~~t ~~ill l~a~e indi~id~~al pa~`ehes~~atios fo~+ pti~~rate
ope~~ space ~s ~~ell ~s landscaped and ha~•dscaped common open space a~•ea an each of the three
sues, Public art will be provided eitl~er o~ site a~~ off site cat~sistent ~vitl~ tl~e te~•tns its tl~e
~green~ent,
us~a~~lahriit~
T~~e project ~~ill ~nelude several key sustainabili~~~ feat~~res ~a ensl~re efficiel~t ~~se ~f n~t~~ral
resources. These mad it~cl~~de lase of mater efficie~~t futures in hatl~ra~tns ar~d kitcl~et~s, rise off`
la~v or 1~o~~~ prime~•s, sealat~ts a~~d adhesives, ~~se of nat~~ral vet~t~latio~~ ~~rhere fea~~~e ar~dlor
arse of recycled bttildi~l materials,
~TTAHE~T w~
DOCaCII ~~~573v~ 3~~~0~72-~00 ~
L1TT1`1H.~:fNT NIJr
IC~RDINC R~Qi~E~T~D }
AND R~CRD~D MAIL TC; }
~
. . ~ ~
Atter~tror~, ~
This docrrrner~t is e~e~~~pt f~•nm the
payr~~er~t ofa recording fee purs~aarat to
Co~erntnetlt Cade ectia~~ ~7~3,
R~L~A~ CON~TI~~CTI~N C~~ENAN'~
Tr~is ~~~~A ~NTRCT~~N ~~~NANT ~ti~e "Rereasc"~ i~ rnad~ as of
_ , ~D! by tine N~UNIT~' R~D~~~I,~~i1~~NT A~~N~`~ T
ITS SANTA ANA, ~ pudic body co~~porate at~d politic the "Agency"~, ire fa~o~• of
~tfle "De~eroper•"), as of tree date set fartr~
belo~~.
RECITAL
A, Tree Agency and the Developer base e~~tered into that certain Dispositior~ and
De~erop~~~er~t Aree~i~c~~t ~trle "DDA"} dated ~ ~ ~ : ~ ~ ` ~O i a, cotice~•~~ing the
rede~elap~~xerat of certain reel praper~y situated ire tl~e City of Santa Ataa, Califor~~ia as rna~•e fi~rly
described iI~ Exr~ibit "A"attached hereto and i~~ade a part l~er•eof.
A r~eferer~ced lr] ectro~l I~ of tree DDA, the Agency is required to firrnish tree
Deveraper• or• its s~rccessor~ ~~itrl a Release of Construetian Ca~cr~ar~ts upon completion of
canstructiatl o'the De~reloper Irnproven~ents has defined in ectiori 1~0 aftlae DDA}, ~~hicr~ Release
is req~~ired to be il~ such form as to perr~~it it to be recorded its tf~e Rccorde~•'s office of ~~~ane
Co~~nty. TrYis Release is conclusive detern~irlatior~ a~` atisfactot~~ conlpletia~~ of tl~e cor~structior~ ar~d
de~~elop~ncnt required by the DDA ar~d the grant Deed.
Tlae Agency leas co~~clusively detet•xnir~ed that such const~`~~ctior~ grad ~lcvelopr~~c~~t has
been satisfactorily cor~~pleted,
N, T~ER~~'~RE, the Age~~cy rxericby cer~if
ies as folra~~~s:
1. Tl~e Dc~elope~• I~nprovements to be constr~~cted ray fhe De~~eloper ~~ith ~•espect to
~l~ase i~a~~e been furry ar~d satisfactorily co~npleted to car~forma~~ce with the DDA.
Nothing cantai~~ed its this instru~nel~t shali modify in ar~y other ~vay any otl~er•
p~•ovisions ofthc DDA.
A7TAC~IENT N~, ~
D~CSaCJ14~0G7~~~1 ~~~~~~7z-~~~ 1
[Signat~~re block begins on follow page.]
EXHIBIT G-2
DOCSOC/14a0b73v13/200272-000 t
80A-206
YN ~'~N~ H~~~~, ~,en~~ ~xecut~d ~~~is ~ete~se ~s of ~~~e dale set foa•t~~
above.
~.~N~;
~MNIT~ It~D~~~L,~PN~[~NT A~N'~
~F THE ~T~' ~F N~~ ANA, a publ~
eorpora~e ar~d poli#ic
~y~~t~~i ~e~sor~
Exec~~~~~e ~trecfo~~
Nf~~•~a 1]. >`I~~izar'~ perk of~~ae o~~~~c~I
A~PPROVE~ A T~ F~~:
f~•adl~~~g ~acc~ ~r~san . Ra~~f~,
Ag~~~e~ pec~a~ o~~risl
E>~~~~'~ ~-3
DQ~~~I1 ADD?~~~ 131~~~~7~-~~~1
EXH~B~T A T~ AT7'~~.~N'~ ~
~OC~DCl1~I~~b73~~13f~~0~7~-O~~l
~r~~r ~~.l~o~~vl~ ~
} s~.
~o~~r~ o ~
On , hefor•e one, , Nota~'y Public,
~Pri~t Na~ue of~ola~•~r Pb~iG}
persot~all~ appa~~ed
~vilo ~]1•~~ecl Io me ~t7 tl~e b~~is of satis~'actory evidence to be the perso~~~} ~vllose n~t~~e~~) ~Slare
subscribed to Ilse 4vithin instr~~~r~ent and ac>~~o~vledged to me teal l~elsheltl~ey exee~~Ied tine s~t~~e its
l~isll~erllheir authorized capacity~ies~, at~cl that by i~i~Il~e~•Ili~eir sign~t~~~~e~s} o~ the inst~i~~~nenl Ilse
persot~~~}, tine entity ~~~otY behalfof~vhich tl7e per~o~l~s~ acted, execuled the it~sta{u~~~e~~t.
~ cerlif~f ~~~~der PENAL~'Y ~'~~JR~ under Il7e haws of the state of alifor~~ia that Ilse foregoing
paragrapl~ i~ I~~ue and correct.
~Ti~~ ~~y 1»~~d a~~d o~`ficial seal.
Signat~l~e afN~tar~~ P~~blic
T~~otig~~ t~~e data beto~v is not re~~~~red by ~a~v, it ~~~ay prove v~ll~a~~~ to persol~s r~lyit~g o~i the duc~i~~]e~]t tad eo~ttd prevont
fra~~dule~lt reattac~~ment oft~~is dorm.
~APAI't''~' ~LAI~~11D I3~' Z~N11R ~E~t#'TII~~ ~T ~T'I'~,~~~D D~~ri~i~T
? I~~~~vid~~al
? ~or~aarate Dff cer
Ti~~e~s~ 'r~t~e Or T}ape O~D~c~t~~te~~t
? Parttier~s} ? Li~~~ited
? Attorltey-It~yFact
? ~'rustee~s~
? Ci~ardia~l~~~tservator N~~ri~~er o~Pag~.s
? ~t~~er:
signer is representing;
Name 0#"~crso:~~s} o~ ~~~i~~~i~s~
Date ~fDoc~~~1~e~~ts
~~g~er{s} Other Than ~a~~~~~ A~~~~e
DOCSOC~I~~~G73v1 120~~7~-~~01
~~~~iY1L' ~ 1 1
RE~~IIN REi~~STED BY, ~
A~I~ Rl~~~~I~ MAIL ~ro ~ }
or~utrit~r Redeveloptnetrt Agency )
of fhe ~ of Santa At7a ~
0 Civic ~etrter Plaza ~
Santa Anaa alifarnia ~7~~ }
Attn, ~~ecrttive director ~
Tll~~ dacrttrret7t rs exempt fronr paytrrent ofa
recardit7g fee prtrsrtanf to avet•trrrrent Code
Sections X7383 acid ~ ~ 03.
~L~~LA~'~1~~' A~~~~ViE~T
. T~~S ~ULATR~ ~.~.~~NI~~T the "Agt'een~~tlt"~ is entered into as of
~ X010, and between the ~~N~T~ RED~'~~L~P~I~'~
A~~~~ THE ~`~Y ~r SANTA ANA, ~ p~rbiic body, corporate acrd politic the
`;Aetxcy"~, at~~ ~t~l~ cc~~~~l~pe~•~~~~
I~ECITAI~.S
Developer lras ac~rtired from the Agency certain real property loeate~ ~~~ithir~ tl~e
pity of Sat~ta At~a, as parttc~~larly described ttr the legal Uescr•iption attached l~ereto a
Exiribit A, ~vhiclx is incor;parated ~rer•ein by reference the "Site"),
Developer desires to constr~~ct a n~uitifatrril~ affordable l~ortit~g de~reioprnent,
~vl~icl~ will eon~ist of a trrit~i~~~~~r~ of snits the "~-~ousir~g ~'roect'~}, at~d. to t~rake
available at~d ~~et~t tl~e aparttr~etit ~?n~ts 4v~tl~it~ tyre ~~otxstt~g Project the "~ousit~g Ut~its~} to
e~tretrrel~ at~d very low ~ncorne persons at ate affordable retrt~ Tt~e Hausitr Project is sometimes
referred to hereitr as tl~e "P~~o~ect."
developer and Age~~c~ have et~tered into a Drsposttiat~ at~d Develaprrretit
Agreett~ent ~tlze "DMA"} dated as of ~ ~ ~ ~ ~ , 20 l S~rbject to tt~e tea~tns and
C~~1d1t10~1S tllerelt~~ tl~e ~]eveloper lras agreed to acquire the Site and construct and ope~•ate tl~e
~o~~sing Project, the Agency has agreed to provide fit~ax~cial assistat~ce to Developer, and the
Developer has agreed to r~rake available and lease all of the Ha~r~irig L~rrits to ~~tre~nely arid.
Ver•~~ Lo~v ~ncon~e ~auseholds, all at an Affordable Ret1t has those terns ar•e defined hereirl~,
Tl~e eecrrtion acrd r;ecord~~~ o~this Agteemerrt is a ~•equirernerit oftire D~A~
N~, TH~R~"0, tine parties l~ereta agree as fallo~vs:
umbct~ of ~fl~orc~abie ~enll Uzzi~. Developer covenants and agrees to n~al~e
available, r~etrict occupat~cy ta, and refit the Rental knits at arr affordable ret~t pur~atrt to
Sectiotr 5 below, as folla~~~s;
AT~'A~~~II~T 7- ~
DOCS~~l1 ~00~?~~~13i2~0~7~-~~~1
} the t~~o ~2} bcdroon~ Rental Urrits ire Please ~ 1 to
fiery Love rnco~e Households at an Affo~•dable Rent; t~~enty of the t~~o ~2} bedroom Rental
grits ~n Phase R- to fiery Lo~~ Income Households at an Affordable Rent;
fib} ( of tl~e t~vo ~2~ bedroom Re~~tal Units irr Phase R-I to
Extre~r~ely Loup Incon~re Households at atr Affordable Rent; fire ~5} of the two bedraonr
Rental Units ire Phase R-~ to Extremely Lo~v Incotne ~Io~~sel~olds at an Af~'ordabe Rerrt~
~c~ off' the three bedroarn Rental U~~~ts in Phase R-1 to
fiery Lo~v lt~cox~e Households at an Affordable Rent; nitre ~9~ or the three 3} bedroom Rental
Units In Phase R-2 to fiery Low Income Households at an Affordable Rent; ar~d
~d} - of the three bed~•oon~ Rental Urrits in Phase R~ 1 to
Lxtrernely Lo~v Income Ho~~sellolds at a~~ Affordable Rent; t~~xee ~3} of the three ~3~ bedroo~rr
Rental U~~rt rn Please R-~ to ~xtrernely Lo~~ rr~can~e House}colds at an Affo~•dable Rent,
~trrativr~ of Affox•dabilit~ ~eq~uircrnez~#s. Tl~e Rental Urrits shall be s€~bject to
tl~e requir•er~nents of this Agr•eernent ~Foz~ tl~e later of ~1~ fifty-fire ~5} years from the date of tl~e
pity's lssuatrce of a certificate of occ~~pancy for tl~e applicable Phase or ~ii~ repayment itr fill of
tl~e Promissory dote has defined i~~ the I~I)A~,
electloir of Tez~ax~ts. The I)e~eloper• shat} be ~•esponsible for tl~e selection of
tenants for the Rental units irr corrrpliat~ce Zvi#}~ la~~ful acrd reasonable criteria, as set fot•th iii this
Agreement and tlxe Management Pla~~ ~vbic}~ is r*equired to be sub~rritted and approved by the
Agency pursuant to eetior~ 9,
Household ~rrcoxx~e Re~uiremen~s, l~o~~o~~it~g the initial lease-~zp of tl~e Rental
Units i~~ each ofP}rase R~l at~d ~'l~ase R-2, and a~rtrually tl~e~iea~er, the De~eloper• shah s~~btr~it to
the Agency, at tl~e l~e~~eloper's expense, a summary of the income, hol~ehald size and rent
payable by each of t~~e tet~ar~ts of the Rental Units of s~rclr Please. At #l~e Agency's request, the
Developer shall also provide to tl~e Agency completed it~co~rre computation ar~d certification
forms, ire form reasonably acceptable to the Agency, for at~y slxch tenant or• ter~a~~ts~ The
l~e~eloper shall obtain, or shall cause to be obtained by the Proper~#y Manager, a certi~icatiot~
fi~otn each household }easing a Rental Unit den~or~strat~n fleet such hoc#sehold rs a fiery Lo~~
Ir~corne Horrsel~old or Extr•etne~y l~o~~ Income Ho~~selrold, as applicable, and meets the eligibility
requiretnet~ts established for• tl~e Rental UnitF The Developer shall verify, or shall cause to be
~eriified by the Propex~#y Ma~raer, the income cep*tification of the ho~~seho~d~
Affordblc Rent, The tnaxirnurn ot~thly Rent chargeable for flee Rental Units
shall be at~trually deterrr~ined ire accordance ~vith the follo~~~ing r•egt~i~•ement. The Morrtlrly Rent
for the Rental Units to be rented to l~xtretnely Lo~v Income Households shall not exceed the
req~~ire~nents of TA acrd the Monthly Rent for the Rental Units to be rented to ~erY Lo~~
Irrcorne households shall not exceed the more restr•rctrve of ~1} TCAC or ~ii~ the arnou~rt set fot~}~
in ectio~r 50o~3~b}~2} oftl~e California Health and safety bode,
For purpases of this Agreement, "Mon#l~ly Rent" means flee total of monthly
payments charged to at~d Paid by tena~~ts or by ar~y other source ~e•gf section ~ vouchers for
~a~ use and occ~zpa~~cy of each Retltal Unit at~d land acrd facrlrtres associated tl~ere~~vith, ~b}any
~T~TAI-DENT 7-~
~o~~~~~1~~~~~~~'1 ~~~~~~~~-~~~1
~ ~
separately charged fees o?i service charges assessed by the Developer ~vlaicl~ are r•e~uired of all
tenants, other than security deposits, ~c~ ~ reasonable allo~vatrce far arr adept?ate level of service
of Utllrtles not included in ~a or• fib} above, inclndirrg garbage collection, se4ver, ~ratet',
electricity, gas and otlrer• beating, cooking acrd ~•cf?~iger~tion f~rel, but not including telephc~re
service, and ~d}possessory irrterest~ tapes o~i otl~er• fees or• charges assessed for use of the la?rd
a?ad facilities associated the?•~vitl~ by a p~~blic o~~ p~~ivate entity otlreri tlrata the Develaper, err the
event that all ~?tility charges are paid by the landlord ratller• than tl~e terrarrt~ no utility alle~vat~ce
shall be deducted fron~ the rent. "Monthly Retrt~~ does not include optional payments terra?rts
for optional services provrded by tl~e Developer or• the Prope?~y 1Vlar~ager•.
~cc~ipax~cy Lirrrifs, The ?~axi?nurn occupancy of the Rental Units shall not
ea~ceed rnor•e than such rrr?irrber of persons as is eqt?al to tl~e su~rr of the nt?~nbe~~ of bedrooms irr
the f?nit, tr?~?Itiplied by t~vo ~2}, plus ogre l~or• the t~vo bedroom ~?rrits, the n~a~i~~~u?tr
occupancy shall ?rot exceed five per'sons. For the three bedroorn units, the r~~a~i~nr?m
Deer?patrcy shall not exceed severs ~7}persons,
~Iarke~i~rg Progz*artt~ The Develope?~ shall prepare acrd obtalt~ Agency E~ecutrve
Director;'s apps+oval, ~l~ich approval shall riot he ~rrr~easotrabl ~~ritl~l~eld~ of a rl~arketi~rg px•og?•at~~
for' the leasrirg of tl~e Re~~tal Urrrts u+rtlr~?~ each Phase Mlle "l~arketit~g Prorarrr"}~ The leasing of
tl~e Rental Units shall be rna?•keted in accor•darrce ~vitl~ tl~e approved iarketi?~ Progratrr as the
salve be anrerrded frot ttt~lc to tirlr~ Agelrcy E~ecutrve Drr•ector~'s prior' ~vr•rtterr
approval, ~vlricla approval shall Trot un?•easonably be ~vitlrlreld, Tl~e Developer shall provide the
Agency ~vitlr pe?~iodic reports ~vitlr r;expect to the leasing of the dental Units The l~Ia?'l~etin .
~'ro?•arrr shall corrtairr a Lottery and fait Listl~'refererrce List for• i~ritial lease-up errly, The
Develope~~ shall be responsible to organize, clred~?le and coordrrlate a lottery drawing to select
potential to?~at~t for the Rental Units folk initial lease-up only, ~vhicl~ shall be opetr to tl~ public.
The lottery shall take place not less tl~a?~ 9o days prior to cor~pletio~~ of the applicable Phase of
the Rental Urrits, Preference in the lottery, so to?~ as trot irrcorrsisterrt with federal and Mate la~v
~inclr?ding, without litnitation, all fair housitrg laws, rules and regulations}, shall be given as
follows:
~l} Arry persons ~vho have beery displaced fro~r~ tlreir• residences due to
p?•oratr?s or• projects imple?~ented by the Agetrcy 4vitl~in the station District; at~d
~ti~er lrouselrolds ~vho dive or work rrr arrta Ana,
Subject to all fair lro~?sin laws, rules, and regr?Iations, all categories shall receive
pr'cfererrce irr the or•de~• listed. The req~?iretrrent of this eetiorr X01.7 shall only apply to the
extent that the n~?rrrber of applica~~ts for Rental Utrits exceeds the n~?mbe~~ of Rental Units
available fo~~ lease repo?~ rrrrtral lease-up~
Por; the purpose of the lottery da'a~ving, the Iotter•y will be divided by those ~vlro
have claimed a preference acrd those ~vlro do trot, All lottery fo~•lr~s will be drawn a?rd nun~ber•ed
to create a complete list of alternate applications.
The Develope~• shall provide ~vr•ittetr notification to lottery pa~~ticipants inforrnirrg
tlxern of the results and tlrei~i prioriity nurrrber•, This priority nl~mber represents the order with
ATTA~.I~NT '1-~
~ 1 ~
~vl~ich prospective tenants will be reviewed far ~rral detertr~inatian of eligibility. If ~ ha~~sel~old
mho vas selected claitned a prefere~rce but could not verify €~ch preferelrce, then that par"trclp~nt
will be deemed ineligible acrd tl~e x~ext selected part~c~pa~~t ~vrll lie rrotl~ed~
S. ailYte~zax~ce~ The Developer shall mailrtain each Phase of the Rental Portion of
the Project, ar ca~~se same to be rnaintairred in decent, safe and salrit~ry rnat~t~er, al~d in
accordance ~vitlr the stalydar'd of rnaitrte~rance of affar'dable hauslrr apat~#ment ulrrts ~vrtlrin
grange ourrty, California, ~f at airy time the Developer" fails to rnairrtain each Phase of the
Rental Poi"tio~r of tl~e Pr"oject in accorda~rce ~vitlr this Ag~•eerrrerrt and s~~cl~ corrditiolr is not
corrected ~vrtlirrr eve days after ~~v~iitten rratice fi"om tl~e Agency ~vitlr respect to graffiti,
debris, acrd waste material, or thirty X34} days after' ~v~"ltten rlatlce franc tl~e Agerrc~r ~ti~ a•espect
to general rnarnte~rance, landscaping acrd b«ilding improvenretrts, then the Agency, lIl addltrorr to
~~vl~atever remedy it Ir~ay lave at la~v or' in equity, shall have tl~e right to etrter upon such Phase
alyd pexkfartr~ all acts and ~vark necessa~'y to p~'atect, l~rai~rtaitr, and preserve the such Phase, and to
attach a lien ~~po~~ such Plrase, ar to assess such Phase qtr the an~outrt of the expenditures arising
fi~orn such acts acrd work of pratectian, nraiiitenairce, and pr'eser'vation by fire Agelrcy airdlor
casts of sricll cure, including a reasonable administrative charge, which ainourrt shall be promptly
paid by the Developer to fire Age~rcy upon dei~.and,
rla ~I~l~II P~ tl'
g ~ a , P~ open N~airager~ex~t. Far each Phase of the Dental
Poi~ion of fire Pz'aect, the Developer shall submit for fire reasorral~le approval of the Agency a
"Ia~~agemerrt Plair" ~vl~icl~ sets far"tlr iii detail tl~e Developer's p~•opei"ty rrrarragen~t~t duties, a
teira~~t selection process and crime pr"eventiai~ prograi~i, fire procedut+es for' the collection of rent,
the pi"oced~xres for' evictiarr of teirants, fire miles and i'egulatiarrs of fire Rental Pardon of fire
Pra~ect gird Ina~~ner of enfar"cement, a standard lease fa~•n~, an ~peratilr B~~det, the ide~~tity of
tl~e tr~at~aer' of fire dental Fortiori of the P~~oect ~tl7e `iProperty tanager"~, aiad other i~ratter's
relevant to fire rrrairagei~ent of the Reirtal Po~•tian of the Pr'ojectt The rrianageinerxt of the Reirtal
Portion of fire Pra~ect shall be in ca~r~pliance ~vitlr tl~e N~anagement Pla~r which is approved b~
the Agency, Tl~e Agency lrer;eby approves Related l~Ianagement oi~pa~~y, ~.P, as the P~'ope~'ty
airager for each Phase ofthe Rental Par~tion.
If the Agency deter"rrliires that fire perforrnarrce of tl~e Praperty Manager as to a
pat"tlc~~ll" Pi~ase is deflclerrt based upo~r the sta~rdards set forth irl the l~anaget~rerrt Pla~r anal in
this Agi"eerrient, the Agenc~~ shall provide notice to fire Developer of suci deficiencies, .ird tl~e
Developer shall use its best effai'ts to caz•t'ect such def~cie~~cies. ~n fire event that such
deficiencies have riot been cured ~vitlrirr the tln~e set f0i'th iii Section 5~1, the Agency shall have
the right to r;eq~~ire tl~e Develaper• to ir~meditely retnave and replace the P~'operty a~rage~~ fa~~
such Phase ~~vitl~ another property Manager oi' property ~rianagernent company ~vhiclr is
reasonabl~~ acceptable to the Agency, ~~hich is riot related to or affiliated ~~itlr the Developer', and
~vlricli lras not less tlrarr five years experience in prapei'ty rnairage~r~et~t, including significant
experience managing lrausiirg fac~lit~es of the sr~e, q~~ality and scope of the applicable Phase of
the Rental Portion oftlre Project,
M~ aliifar'rllg axed Recar•d~~eep~rrg~ Throughout the Affar"dabilrty Pe~•iad,
Developer' shall comply ~vitlr all applicable recordkeepirrg and Monitor{ing requi~'et~ents set fot•th
ire Health and Safety bode Sectioir 3~~~5 at~d shall annually ca~nplete and submit to the Agency
a r"epor•t, pa~ior to ~anuar4y ath of each year", for each Phase of the Rental Partiotr ~~lrich i~~clrrdes
ATTAHM.ENT 7-4
D~DCJ1~~D673v~ 31~~~~7~-~~~~
f
f
the Warne, address, inco~ne aid age of each occupant of a Reel#aI Urri#, the bedroorrr co~in# and
Monthly Rent for such Ren#al L~t~it. The Agency agrees that the Developer nay sl~bini# reporti~~g
forms prepared ar~d suh~~titted ire coi~i~ectian Zvi#~~ any a~l~er sltn~lar r+epoltirlg 1•e~uii~einent,
including reports prepared for tax credit cor~pliance, to the extent those fauns contain the
ir~forrnation required hereunder. Repreel~tatives of tl~e Agency shall be en#itled to i~#er each
Phase of the Rer~tal Po~~tioi~ of the Project, upon a# least seventy-#~~o l~au1•s prior ~vri#ten
notice, to mor~itor coinpliance ~~ith #his Agreement, to inspect the records, ar~d to cond~rct a?
independent audit or inspection of such records, Tl~e Develaper~ agrees ~a cooperate with tl~e
Agency In Inaking each Phase of the Rental Portiol~ the P~~o
ject mailable ~az• rrcl~ inspection
or a~idit. Tl~e Developer agrees to inaintain records in a busit~essli~e manner, and #o mair~tain
such 1•ecords for the teem of this Agreemen#,
~1, rrccessnrs aritl .Assig~rs, This Ar~een.~er~t shall ruin with #l~e land, aid all of the
#erins, covenat~ts aid carrditions of this Agreernen# shall be binding r~pan tl~e Developer and the
Ager~cy and the perrnr##ed successors at~d assigr7s of tl~e Develapel~ and the Agelicy~ hene~er
the te1•rn "Developer," or' "A,~erlcy" Is used lit tl~IS Agreeinei~t, such tern shall include an~~ other
s~iccessars ar~d assigns as hereir~ provided,
~o Tl~i~~d Pa~'t~r ~Cl~~ficIar•les, This Areernet~t is Made and er~ter~ed it~to far the
sole protection and ber~efit of tl~e Agel~cy and its successors and assigns, aid Developer at~d its
successors aid assigr~s, a~7d no other person ar persons shall have any right of ac#iarr hereon,
I, ~r~ial Invalidit, if any provision of #l~is Agreeinei~t shall be declared invalid,
illegal, ar ~~r~eriforceable, the validi#y, legality, and enforceability of the relnaini~~ pravlslans
hereof shall no# in arly ~vay be affected o14 unpaired,
over~nitig I~a~~, This Agi+eeiner~t ar~d #lae documel~#s and other instr{timei~ts
given purs«ant l~ereta sll.ll be construed ire accordance ~~itl~ and be governed by tl~e laws of the
eta#e of Califorr7ia, Airy I+eferer~ces herein to pa~itic~zlar statutes or ~•egrrlatians shall be deel~red #o
1•efer to s~iccessor statutes or regulations, oti ainer~drnel~ts tlxei~eto.
1, Amendmerr~, This Agreement nlay not be cl~at~ged orally, b~~t only by agreerr~en#
i~~ ~vritirr signed by Developer and the Agency
~G~ l]efirriiox~s, Ariy word, #errn ar phrase i~ot specrfically defirled rn tlrrs Agreen~eri#
shall Dave the same rnei~ii~ as ascribed to i# ire #l~e DDA,
~inat~ire block begins oi~ follow page.]
ATTACHMENT 7-~
~~~s~~~~~~~~3~~~'1 ~
f
STN HER~~I+~, the ~at•ties hereto have eHeuted this Agree~en~ effective as of
the date at~ci ea~~ set fot~ti~ above.
A~EN~';
COC]~YT'Y ~~~'~~~I~N~T AG~N~
T~ ~T'~ 0~` SANTA AAA, a ~~~bl~e bo~~,
corporate and ~aiitic
8~~:
ylzti~ia J~ Nelso~~
~xec~~tive ~irec~or
ATTEST;
N~aria . Huiz~~~, le~~k ofti~e o~~t~eii
APP~~'~~~ A T~ ~`~RM;
S~radii~~ ~occ a~~~sol~ Ra~~ti~,
Ae~~cy Special o«trsel
z'1 R i'lf
its:
D~CSDCI1400C7~~~ 3i2~~~~~-~~~t
lf~~~~ 1
L~AL ~~~TY~N ~I' R~~T~L 0~ TROT
E~~I~IT A A'~'TA~ENT 7
D4C~~J~ ~~~'~3~R 131~~~~?~-~~~ 1
T~~ OF CALIFORNIA ~
~ ss.
~~U~T~ OF _ }
Cry , before rye, , rotary P~b~ic,
Print Na~ne of a~ary A~~b ~c~
perso~~ally appeared
~v~~a proved to me ot~ t~~e h~sis of satisfactory e~idet~ce #a be #~~e persat~~s} ~~~~ose t~an~c~s~ ilaae
s~~~scr~~ed #a #~~e ~vit~in i~~strut~~ct~t and ackno~~ledged to tale #hat helshelthey executed tiie same it7
his~i~eil~heir authorized ca~pacity~ies}, atld #i~at ~y ~~~sli~erlt~~ei~` sigr~aturel~s} o~~ the ir~strument the
persa~7l~s~, or #i~e e~~t~#y ~~porl he~~a~f of ~vilich the persan~s} acted, executed the itistr~~mer~t.
I certify under ~~~AI~~'~ ~F PII~JUR~ «~~der t~~e la~~ of the State of California that the foregoing
paragrapi~ #~`ue a~tc~ correct.
~ITI~ ~Y7y ~~a~xd at~d a~'fic~a~ seal.
sig~~at~~re oI~11Fotar}f Pc~bIic
~PTI~i~AL
Though #t~e data elo~v i nod re~«ired by la~~, if may prove ~ah~ah~e to persons retying ors tt~e doc~~n~en~ a~~d corrtd pre~re~~t
fra~~d~~tett~ rct~aci7~~ten~ of ~~~is rarm.
APA~I~`Y ~LAI~~~ ZN~~t DP~~RIPTI~~ ~F ~'TTA~HI+~D DDCU~~i~~IT
? It~~ivid~tal
? orpo~~ate officer
Titles} Title Or Tyke ~r Dc~c?~me~#
? P~-~~Yer~s~ ? Li~~~i~ed
? general
? Attarneyyln~Pc~
? Tr~~stee(s]
? Cuar~~anl~onser~ra#or Num~e~ ~fPages
? ~ttier:
S~grter is re~resenfing;
Nance Of~'ers~r~~s~ ~r E~tity(ies~
_ Dade ~~DociEE~e~~fs
Sign~~s} 4~l~er Thad l~a~ned Ab~~~e
>~OC~11~0~~73~~~312D~27~-~0~] i
l
TATS ~ALIF~RNIA }
} .
, befo~~e one, , Nata~'y P~~~~c,
~Pri~~t Name of Nota~'Y '~~blic}
personally appeared
~vi~o p~~oved to ine on tl~e basis of ati~facta~•y evi~let7ce to ire tl~e pe~~on~~} ~~iiose names} dare
st~bscribec~ to the ~vithin instr~~ment and ack~~o~vlcdged to me that ilelshelti7ey exec~~ted the sane its
l~islher~ltheir authorized capacity~ies}, and tl~at by i~~sllzerlt}~ei~' sit~ature~} on the it~str~~~r~e~~t tine
peron~s~, or tl~e entity upon behalf of ~vhicl~ the persun~s}acted, exec~~ted tl~e instru~nent.
I certify ~~tYder PENA~~,'~Y ~F PERJ[1R~' under{ t1~e la~vs of the state of ~alifor~~ia t~~at tl~e foregoing
paragraph t~~ue and correct
ITNE my l~a~~d and official seal.
Sig~~ati~~e orNo~~~~ Pt~bl~c
Tltaugh t}~e da#a beto4v ~s nat re~~a~red by t~~~r, tn~y prove va~ua~le persons rely~~lg ot~ #l~e dacu~tte~i~ and eo~~ld prevent
fr~t~dt~te~~t rent#~c}yment of#h~s form,
~~PAZ'~'~ ~AI~~I1D B~' I~NI{~R DE~RIPTII~ DF A.'x"X'A~~~CD D~~i~IYIIi1~T
? Itidividt~a~
? arpo~•ate officer
Ti~~e~s) Tine Cdr T}ape afDoc~~rne~t
? Pi~t~~er~s} ? f,itni#ed
? e~iera~
~ A~korney~Iix-`act
? Tr~~stee~s}
? ua~•dia~~l~o~lserv~#or N~~~be~~f~'~ges
? ~#}per.
Sig~~er ~s ~'e~rese~~#~t~g.
Na~~~e O~Perso~~~s~ ~r ~~itit}~~ies}
D~~e Qf~oc~~~~zeEZ~s
Sig~c~s~ Oti~er T~~~ N~nY~d ~~~~~e
~OCQ~11~007~~?~ ~~~00~7~-~~01
~1 1~4~~~1` 1 O~
~P~rase It` A.ge~~cy Laari~
$ l,Sa~,00D
2~1~ Santa Ataa, al~fo~•t~i
FAR ~AL~L E~~~D, the "Borro~vex~~~~~
prarnies to pay to the ~Oi1~UNYT~ EDL~L~PN~~NT A~N~ ~F H~ CITE ~F
SAN~`A AAA, a p«blic bod~T, ca~~parate at~d politic ~tl~e "Agency"}, or• order, at tl~e Agency's
office at ~Q Civic tenter Plaza, Santa At~a, alifar~~ia ~~~1, ot~ such atl~er place tl~e Agency
may desigtaate its ~~t"icing, the ~~tln o~ Inc Nitllian Fig H~t~~dre~ T~aou~t~ Dalla~•s ~1,5a~,aaa~
~tl~e "Note At~~ount"}~ its currency of the ~~ited States of America, ~vllich at the tit~~e a~ ~~ayme~~t
i la~~~fi~l far the pa~~nent o~public ar~d private debts,
1, Agt•eel~~e~~~, '~'l~i P~~on~issory Nate {the "Note"~ is given its accardatlce ~~ith that
certain Disposition at~d Develap~net~t Agticemet~t executed by the Agency and Santa Ana Statia~l
District, LLC, dated as of June 7, gala ~tl~e "Agrecn~et~t"~. A portio~~ of t~~e ~•il~ts acid
obliatians of Sa~~ta Ana Station District, LLC under tl~e Agreement ~~as subse~uet~tly assigned
to Borrower" ~'he rights and obligatians of the Barro~er at~d the Agency under tl~ls Nate shall be
g4Tv~tncd by tl~e Agree~ne~~t a~ici tl~e additional terns set ~'at•tl~ in this Note. Capltallzed t~r~nS
trot defined herei~~ shall have the meaning asc~;ibed to s~~cl~ term I~~ the Agrce~net~t~ ~n the event
of any lllca~lSlstet~CleS bet~~een tl~e terns a~ tl~ls Nate and tl~e tit"tnS a~ t~l~ ~~'~~tT~~t~t a~` ~I~~ ~
other doc~ttnent related to tl~e Note .Atnout~t, tl~e terms of this Note shall prevail,
Z, ~nfe~~est, Tl~e Nate Amount shall bear simple i~~te~•est at the rate of three perce~~t
~~Io~ pe~• annum, calc~~lated fro~r~ the latest date ar~y atno~tnt here~tnder is ~•equired to be paid"
3, ~~~yr~~cllt of safe AIYlQllllt. The Note Amount shall be payable fiiotn the
`{Profit-Sharing A~~~ount," as de~t~ed and deter~ni~ied herein, Borro~~~er shall give written notice
to tl~e Agency, not later than ate l~~tt~dzcd t~ver~ty ~~Za~ days aver tl~e sale of tl~e last For-Sale
Unit has defined its the Agreeme~~t~, ~~hich shall incl~~de a statement of tl~e "Net Praft," "Crass
Sales Proceeds," tl~e "~or~ale units De~elopn~ent fast," and "Far-Sale ~J~~its De~eloptr~ent
P~~oft}" as these tee;l~~s are deft~ed belo~~~, a~l~ a calc~tlation of the P~~ofit Shari~~ Arnaunt,
'~tll~n tl~~~~ty ~3a) days of its receipt of Bot•ro~ver~s ~vrittetl notice, ,Agency shall deliver to
Bar~•o~~ar ~~rritten notice of its acceptance of` Barra~vet•'s calculatiat~s of tl~e Profit Sharing
Anlou~~t, ar Aetrcy's cl~al~et~ge of Borro~va~•'s calculations of tl~e Profit Sharing An~aut~t and
~;eq~zest ~o~" a ee~•ti~ecl a~~~lit o Pt•a~t Sha~~ing A~no~t~~t b~ air audita~~ chosen by Agency ar~d
resa~iably a.ccepta~le to Borra~~e~•a at Agency~s sole cost. Barra~~er agrees to cooperate with
s~~cl~ audit, and shall be pet~trtitted to revie~~ and respond to the preli~ni~iary resrtlts of such a~~dit
befa~;e tl~e aL~dlt ~s tssuecl to final fo~{m, fan auclrt is perfo~•~ned, tl~e Pt•ofit Sharing A~naunt shall
be as deter~~nir~ed by the results of such a~tdit. it is determined that a Profit Shat"in Amount is
owed to the Agency, payment shall be made to the Ae~~cy too later than thirty ~a}days after the
Agenc~~'s ~vt4itte~i acceptance of Bor~~o~ver's calculations of the ~'xofit Shari~ig Amount, or tl~e
delivery of the final results of tl~e audit, as applicable, I~~ the event that the ~'~"aft Sharing
D a~SaC1~ 4~~b73 ~t 131~OD~72~~~0 t
At~o~tnt is less than the Note ~t~a~trl#, upon pa~rnerrt in itll of the Profit ghat"ing ~maunt to the
Agency fire Note ~rrrort~it stall be red~rced to veto and slrall be deemed paid in fill,
4, Defir~itia~rs,
"Profit lrar~ng ~~t~ar~rr#}' shall n~ea~l t~ent~r~fi~e percent X25°Io} oftire "Net Profit," ifNet
Pr'afrt is ~ posrtl~e rrurrrbet",
"Nei Profi#" t~~ea~~ the "Cross dales Proceeds" of the Fot"-dale Urli~s, less tl~e "Far-dale
Units De~elop~trent dos#,"and less tl~e "For~ale Urrits De~elaprllent Pt~ofit."
"Crass dales Proceeds" tneat~s the su~r~ of the base sales prices fart the Fot"ale Units,
plus tl~e `Net ~p#ions and Upgrades Proceeds," as defined herein,
a, "Net ~ptiarrs and Upgrades Proceeds" is defined as the differe~ice bet~~~eerr
tl~e price paid the p~~rclrasers of the For-dale Units for• "~ptians and Upgt"ades" ~"Crass
~ptior~s acrd Upgrades Praceeds"~, less the "~ptiots and Upgrades fasts" fol• the For~ale Utri#s,
b "~ptians and Upgrades" nreatrs an~r of thaw fixtut~es and rr~lpro~ret~~ents to
the For-Safe U~~its ~~hicl~ ate riot reflected in the Far-Safe Units De~eloptrtent fast and are its
excess of the base Fot•-dale Unit.
c. ~`Cptiorrs and Upgr"ales hosts" is defined as tl~e casts actua~l~ incurred b~
the ~ot•rouler to pad third pa~•ties far• the "~ptiorrs acrd Upgt"ades" to the Fat"wale Urrits, inclr~dit~
the clra~•ges paid by the Bat•r•a~~~er to the l~orro~~er•'s general contractar~s~ at~dlar subcontractors
fork the purchase at~dlor installat~an of "Cptions at~d Upgrades", and the price of `~Optiar~s ar~d
Upgrades" paid b~ tl~e Bor•ro~~rer dit•ectl~ to a product ~nanufactu~•et• or distributot•, bt~t anl~ if the
I~ar•r•o~~et" purchases "~ptians acrd Upt"ades" products dirertl~ ft•at~~ a rr~trufactut"er or
distributat#, and then otaly pads the contractarslsubcot~tx~actars to install the "options and
Upgrades" prod~~cts.
"For-dale Units Develap~r~et~t host" means tl~e total actual cost to tl~e ~orro~~er of
pian~iing, designing, financing, canstr~tcting~ acid developing Phase FS ~~n accardarrce ~v~tl~ the
pins and pecrficatlot~s to be acted ~tpot~ the Ager7c~ as pra~rded rtr t~~e Agreements t~~t•ough
the lssua~lcc of tl~e ~ert~ficate of Dccupatrc~ fot" each of the Fat"Sale L~nrts, and the costs of
canve~rtr the cot~pleted Far-dale Units to harneb~t~et•s. An~~ suc~~ cans paid to panties related
to ~orr•a~~ver shall be iitnited to the casts that ~~auld have been pa~~ab~ to ttnt~elated parties far the
e~ul~aletrt goods acid services. The For-Sale Units ~e~relopt~er~t Cast shah include, bu# trot be
limited ta, the fallo~~ing:
• Ct•adit~ and site pt•epat"atian;
• ~~rsite and affsite i~npt•o~ernents paid b~ ~arr•a~ver ~otl~er tllarl blase pall ~~rth the
proceeds of the ~genc~ Phase FS Loan},
~ onstructiot~ cans fora the For»Sale Units and related improvements;
~ A general contt•actar• fee Prot to exceed tiro acrd ot~e-halfpercent {~.5°I~~ of
all
canstr•~tction cans;
~ Perfar•mance at~d co~t~pletiari borxd prerniut~s;
AT~'A,~~IENT N~. BA~~
DOCSOCII ~~~673v~3~~~0~72'V~O 1
~ Archi#ectut•a~, engineering, desig>~ and r4eprodi~c#ian fees;
~ ~ansultir~g and professional fees paid to third parties 4~itl~ r;~~p~ct to t~~~ ~~re~rrrent
and cot~strlrctial~ of Phase F~
• De~elopl~lel~t, per'rrrit clad inspection fees charged by airy public agency ine~rt•1•ed at~d
pard by the ~orto~~er~,
• An overhead fee payable to the Barr'o~ver v~hicl~ shall not exceed tl~r~ee percent ~~~I~}
of tl~e gr+o~ sales pr~lces a tine Foz*~a~e knits arld oti~er~ pa~o~cct rever~~re;
~ onstr~rctiot~ loan fees al~d p~~nts;
~ ~epayt~ler~t of corrstr~retfol~ late principal, interest and contingent inter•es#;
• Repayn~el~t ofequity loans and coratr{ibutians, irlcl~rding pr~ir~cipal, interest al~d
preferred retrrr'ns,
~ Pelt anent loaf fees at~d points payable ~ tl~e ~orra~ver•;
• ether fees and. costs of cor~structlat~ laal~s al~d equrty financrl~g,
• Property taxes, insural~ce costs, sec~rr'rty costs, ~rtrltty casts and r~alntel~al~ce expenses
il~c~rrlied durlt~g #l~e col~stl•~tction period;
• uol~~eo~vners' assoe~ation dues payable by tl~e ~arra~ver;
• Sales cal~~n~issians payable to the ~arra~ver's agents al~d bral~ers ~rlot to exceed. °I~~
and cooper•at~ng b>~yers~ ael~ts ar~d br4okers far tl~e sale oftl~e Far-Sale Urlrts;
• ~tl~er reasonable acid act~~ai costs of car~veyili tl~e For~Sale Uni#s to l~alr~eb~ryer~s,
inel~rding escr'o~ fees, title insurance fees, tapes at~d fees lrnpase~ 11th respeet to the
sale oftl~e For•-Sale ~r~its;
~ B~rilder's ~~ral•ranty reserve funds not to exceed ~,OD~ per• >~or-Sale Unit; al~d
+ Any other actual costs to the Barra~~ei' of plat~nit~, destgl~il~g, fil~al~cin~ eons~r'uctln
al~d developing Phase FS hieb Have teat been paid by the Agency ar atl~er par•ties~
"Far'-Sale L~r~its Development Profit" shall n~earr t~~elve percent ~l°Io) of tl~e sul~~ of ~i~
tl~e total base sales pr{ices ~`or• tl~e For-dale ~l~its, plus iii} the brass ~ptior~s at~d upgrades
Proceeds for tfie For-dale Units. This alnaunt shall be paid to andlor• retained by the Barroer
prior to #l~e payrrrerrt of the Profit Sha~•ing An~o~rnt, if al~y, to tl~e Agency hereunder.
For #l~e p~~rpose of facilitating the calculation the Far•-Sale Units Sales Proceeds, r•oss
~pt~ons at~d Upgrades Proceeds, at~d Net Dp#iol~s al~d Upgrades Proceeds, tl~e put•cl~ae and sale
agr•eernet~t fot~ each Far-Sale Unit shall delineate the base sales price and the price el~aled to the
buyer for Optiar~s and Upgrades,
ecurify, This Nate is see~rred by a Deed of Trust ~t~~e "Deed of Tr'us~}'} da#e as
of tl~e sane date as this Note Tl~e Deed of Tr~rst shall be recorded in second priority and shall
be subardil~ate only to the deed of trust sec~rtiri ~orro~~ver's contructra~l fina~lern for• tl~e
~'tio~ect as approved by Agency pul}scant #a tl~e Agreetrter~t. The Deed of Trtlst shall provide for
a par•tia~ recanveyal~ce of the Deed of T~'«st iri cor~l~ection ~vitl~ the sale of each ~rrdividual For'-
ale Unit, Agel~cy ~lnderstands #l~at tl~e Deed of Trust ~vlll be fir~ly t•ecot~veyed prior to tie
payt~ner~t made pursrra~~t to eetion ~ hereof,
l~o~x~~ecnurse, Ul~til the full recanveyance of tl~e Deed of Trust, this Note shall
constitute a nol~r•c0urse oblrgatrarl of Borro~ver, al~d nertl~er' Borro~~rer riDl' ally of its t~elnbers
shall have qtly personal liability fog' payrnet~t or pet•for+t~ance of tills Note In tl~e event of a
ATTAIENT N0, 8A-3
~oco~~~~~~~~T~ ~~~oa~~~-oo~i
default hel'eunde~~ ~~llich occurs prior to the full r'ecot~~eyalice of tl~e Deed of Tl'ust, tl~e agency's
sale ~`ecourse shall be to proceed. agaix~st tl~e collateral described in tl~e Deed of Trust, After tl~e
firll r'ccal~~eya~nce of the Deed of Tl"ust, Agency n7ay er~fal'ce its rights l~el'eunder' rn arry ~r~ar~ner
permitted by applicable la~v,
a, Bor~`o~ver expressly ag~`ees that this Note or ar~y payrne~~t hereunder lay
be extended fi~orrr tirt~e to time at the Ager~cy's sole discretion at~d that tl~e Agency n~a~r accept
sec~~rtty lIl canslderat~on far' ally sll~h ot~I~slon or` release ar~y security for tl~~s Note at its sole
discretion all without iii at~y ~vay affecting tl~e liability of Bor+ra~~er`,
b~ No extenslar~ of tli~]e far pay~net~t of this Nate ~xrade by agreelner~t by tl~e
Agency ~~ith arry pe~~sat~ nay or he~`eaer liable far` the payl~rent of this Note shall operate to
r"elease, discharge lnodify, c~hat~ge ar affect the original liability of Barr~a~er` ~xnder Phis Note,
eltllel` 1~1'~'~hal~ Ol' lrl part,
c, The abligatiar~s of Barra~er` ~~t~der this Note shall be absolute and
Bar'z`o~ver ~ai~Tes ~~y at~d all r'igl~t to offset, deduct or' ~vitl~hold any pay~r~ent or` charges due
under this bate for ar~y reasor~s ~~r~~atsae~cr',
Bar`ro~ver ~~vai~cs pl'eser~tment~ detrrarid, notice of pl~ateSt ar~d r~a~~payment,
r~atice of default or delit~rrer~cy, l~atice of acceler'atiar~, ~~atice of costs, expenses or' leases oai
interest therear~, notice of disl~onal`, diligence ire callectio~~ or in pr"aeeedi~~g against any of
tl~e
r'lgllts lr~te~'ests i~~ ar` to pr`operttes securing of this Nate, at~d tl~e benefit of any exetrrption
r~r~~lel` at~y l~a~nestead exemption ia~~s, if applic.b~e~
c~ No pr'e~ious ~~ai~er` and lea failr~re or delay by agency its acti~~g ~itl~
respect to the terms of this Nate Dl' the Deed of Tl"~~st shah canstitrrte a ~~ai~er~ of a~~~l bl"each,
default, or failure ar" ca~~ditiot~ under this Note, the Deed of Tr"ust ar tl~e obligations sec~~r'ed
~her'eby, ~ ~~aiver of ar~y tern of this Nate, the Deed of Trust ar of ar~y of the obligatior~s
secl~red thereby must be rrlade in ~~ritin and sl~ll be litt~ited to the express ~~rit~er~ terms ofsuch
~~aiver,
A~tarneys' Fees arr as~s~ Bar+ra~~er agrees ti~at if ar~y ar~~a~~nts due l~r~der` this
Note ar'e l~at paid ~~hen due, to pay its additiorl~ all costs ar~d expenses of collection and
~`easonable attorneys' fees paid or` ir~cur~`ed in cor~nectia~~ ~~ritil the collectia ar er~farce~r~e~at of
tlirs Nate i~l~etl~er al' not suit is fled,
9f Joix~t and e~rer~al ~bligafion, This Note is tl~e faint at~d se~er'al o~ligatio~~ of all
n~a~ez~, sureties, guarat~ta~~s ar~d cridar'se~`s, a~~d shall be bit~dit~g rrporl them at~cl their heirs,
successoa`s a~~d assigns,
1D~ A~xt~er~dmelr~s rid odificafrons~ This Nate ray not be charged orally, but
ably by are amendment in ~~riting signed by Borra~~er' ar~d by the Agency,
~~~IICy AkSS~tI, Agerlcy nay, at its apt~an, asslrl its r`~gl~t to 1"ece14'e
payment ~~r~der` this Nate ~~itllo~zt necessity afobtaining the canser~t aftl~e l~orro~~~el`,
ATT1~H~VIENT ~~4
D DCSO ~00673v1 ~}2 ~027~-~~~ ~
~oi~i•o~~er A~S1~IlIi~~tif Pra~~1~31~~i~ ~r~ rro e~et~t sl~all Bot•t'o~ve~' assign ar' tratisfei'
par'tron of thrs Nate ~v~tl~aut tl~e prior e~lO~'ess ~vt'itten consent of the Aericy, which canserit
shall not ~tnr'easonabl be withheld, ea~cept pursuant ~o a transfer hicl~ i permitted ot" approved
pur'suarr# #o the #erms of the Areernetit.
'Pez~ins~ Ar~~ ter'n~s riat separately defined Herein shall lla~e tl~e same meantt~ ~
set far'#li in the Agreement.
~4~ Acce~cr'a~iDYi acid ~~he~' Relrieciies, [span; ~a~ the occurrence of ate event of
Default as defir~ed in the Agreemet~t at~d deli~et•~r of notrce acid exprratiori of the cure period
described tl~er'eit~, or ~h~ Borrower selling, contracting to sell, grving an ap#ron to pur'cliase,
C0~1ve~lrlg, leasrrig, frtr'tller' erlc~lrnbel'Irig, rllar"tgaging, asrgntng at' al tenattng Borr'o~ver''s
in#er'est irl Phasc father #lran the sale of
eornpleted For~ale U~tts to rr~dtvldlt~l llarne~~t~ers ar'
othei'~vle pertr~ltted or approved p~tr•s~aant to the Ar'eerneri#}, whether directly ar' i~~directl~~,
~~lYetl~er volrrt~tat'il~ or irrvo~~ttitaril~r ar bar apera#iari of la~~, ar an~F iriter'est in Phase o~'
s~tffer'irig its title, ar ari~~ ra#eres# in Phase F to be digested, ~vlaetl~cr volun#ar'il~ or' ir~voluri#ar'il~,
~vrtliau# #lie cotiseri# of tl~e Ae~ic~ or' as otl~er~vise appt'oved o~' permitted under the Agreement,
Aet~c~ mad} at Aet~cy's optiati, declare tl~e opt#s#andir~g principal arnour~t of this Nate, toctl~r'
~vitl~ the t~ct~ accrued and ~tr~paid ir7terest therean and other charges l~er'errnde~', at~d all ot~e~'
s~trns sec~rred h~l the Deed of Trrrst, to be due and pa~a~e ~rrtmediatel~, acid upori such
declaration, s~rch prrricrpal and rrrter'est at~d other sutras sl~a~~ immediately became and be due and
payable ~vithorrt demand or t~oticc, alb as fur'tlier set forth in #lie Deed of Trrrst, All costs of
collection, it~cl~tding, l~~tt not llrnlted to, t'easonable attortle~s' fees and all ex~~enses incrrrt'ed in
caririeC#lan ~vl#l~ pra#ectlon of, ar reallza#ion on, the s~Clrl"rte for' t~hts Note, may be added to the
priricrpal hereunder', acid shall accr"rie in~er~est as pra~ided her•e~n~ Aget~cy shall at all times have
the right to proceed against any pot'tiot~ of the security far' #his Nate in such order and in such
manr~er as srzch Act~cy tnay consider appr'apr'ia.#e, ~rthou# u~arvrr~g any r"lgh~s s~lth respect to
atiy of
the securit~~, Arid dela~~ or arnissian an the part of tl~e A~get~c~ eta eerclsing a~l~ right
l~erertrider, under the Agreerrient or' under' the Deed of Trrrst hal l not operate as a waiver' of such
tight, or' of and other right. No it~~e or pay'#ial exercise of
any rth# ai' r'emed~ herer~~~der a~'
under tl~e Agt'cetnent o~' at~y other' docurneri# or' agr'eernerrt shall preclude other or' farther
c~ercises thet'eof, ar' #lle exercise of any other right or remedy, Tl~c acceptance of payrncr~t of
any Burn payable liereundcr, ar part thereof, after the due date of such payment shall riot be a
~vai~er' of Agency's right to either t'eq~tire pr'alnpt payrnerit ~vlien due of all other srrr~~s payable
lYereut~der' or to declare ate event of Default for fail~rre to make pran~pt or' catnpletc paymet~t~
Successor#s and Assigr~s. ~~her~ever "A,er~cy" is refer;i•ed to ire this Nate, such
reference shall be deemed to include the ~otnt~ut~ity ~edeveloprnerit Agency of the pity of
Santa At~a at~d its srrccesso~' and assigns, including, ~vrtlla~tt lrrnrtatian, any subsequent assignee
or holder' of this Note. All caverian#s, pra~isiarrs and agreetnet~ts bar or on behalf of Bot'ra~vci',
and ot~ behalf of any maker's, endorser's, girarantors at~d sure#ies ~~er'eof v~~l~ich ar'e caii#airied
leer"ern shall it~~rt'e to the berief~t of the Agency and Agency's successor's ar~d assigns.
ATTAHNIENT N~. $A„5
D~COC1~~0~~73tit131~D~~7~-Q0~ 1
1G, ~Iisce~~a~ie~us. Time ~s of the essence he~~eof, ~'hi~ Note sl~all be o~er•~ted
at~~ construed ~~~er tl~e laws a~ the State aliot'nia except to tl~e extent Federal laws p~'eemp~
the lames of tie State off' aliornia, Bo~i~~o~~er~ i~~~+evaeahl~~ a~~d uncor~dit~onall~ sr~bmits to the
jurisdiction the ~~pe~'lor o~~r~ o~ the State of California for tl~e bounty o ~~'at~e ~~l
cot~nectiaz~ with and seal action oi' ~~;acee~~ a~~istng o~~t of of reatix~ to this dote, Bo~•tou~e~i
also waives a~~y ob
jectior7 reg~~'clln ~ers~nal o~• ire ~~e~n ~urlsd~ctlon or ~et~ue.
B~;
Its;
i
~'T~'A~~N~` 0.8A-~
DD~~o~l~ ~~~~'~3~~131~~Q~7~-Q~~~
E
~TT~~~~,?ii1~ ~llr
~~~I~I~R'~ N~~`~
~~~15~ A~I1Cy L(31~~1 ~Il[~ ~h~S~ A~~IICy ~~all~
X010 Santa AtYa, Califot~t~ia
~A~~~ ~tl~e cc~al't`04vet`~~~a
promises to pay to tl~e ~I~~JI~IT~ ~~~'~EI~~PI~N~' AE~Y UI` ITS
,A~'A AAA, a pubic body, ca~~porate and politic ~tl~~ "Agency"}, a~~ order, at #l~e Agency}
office at 2D Civic Center I'a~a, Salta Ala, California ~7~1 ar such other place as the Aer~cy
lna desi gate in ~vri~ir~ tl~e ~ 1 ~
g~ k~ n of ~ ~ ~ ~ ~ ~ : ~ . ~ ~ ` ~ : Doll r s
a
~ ~ ~tl~e "Note Arnoul~t"~, irl cul•~~e~~cy ~f #l~e United states of Al~ierica ~vl~ich at the
time afpayrne~~t is la~vfk~l for the payment aflakrbllc al~d private deb#~,
Ag~•een~e~~E, This P~•alnissot•y Note ~tl~e "Note"~ is givers ire accol~datrce ~~xitl~ that
certair~ D~spositiol~ and DeveloiO~nerrt A.greemer~t executed ley the Agency al~d ~orro~rer, dated
as of ~ l a ~tl~e "Areel~~ent"~, Tl~e rl hts a~~d obli a#ia~~s of #f~e
g g
I3o1•raer• and tl~e Agency under this Note shall be ga~err~ed by the Ag~•eerner~t at~d by tl~
~ddltlolla~ tarns set forth ~ this Note. Capitalized terms l~at de~~~ed llel•ein shall have the
me3al~ing ascribed to such te~~m in the Ar~eelnent~ In tl~e event of any incarlsistet~cies bet~~een
tl~e terms of this Note and the terns Of tl~e Agreemel~# D1' atly Other document related #a the Note
Arno~trlt, flee te~•ms of #l~is Nate shall prevail.
Il~te~~est, Tl~e Note Atnaur~t slxall bear• simple il~te~iest at tl~e rate of o~~e percer~#
~ ~ per annum, from the date hereof.
Repy~nell~' ~~l~ofe A~nolrzaf. Tl~e date Amount shall be laid by the Boy;raver'
ar7n€za~ payrnel~t to the Agency of al] arno~zr~t egklal to fifty I'e~•ce~lt ~~°~o~ of tl~e Residk~al
Receipts has defined belo~v} frarrr operatiar~ ofP~hase afthe Re~~tal Portion of #l~e I'~•oject has
defined in the Agreetnet~t}, as deterrnir~ed by a residual receipts calck~latiarr from tl~e aperatiot~ of
Phase R-` #l~e preceding calendar year, Annk~al ~esidk~al receipts payment shall be by the
I~or•ro~ver• by cashier's check a~~d shall be delivered ors o~• before one l~k~ridl•ed t4verity ~1~~} days
after #l~e end of the orx•a~~~er's fiscal year, of each year d~~r~il~g ~l~e term of this Nate first
fallo~~ir~g the date Phase R-~ oftl~e project ~ot• al~y Phase the~4eo is placed in service, ul~til the
Note Arr~ok~n# ar~d all unpaid inte~•est tllerea~~ leas bee~~ repaid ire firll, Ally remaining partiol~ of
the Note A~rrok~nt shall be due and payable ol~ tl~e earlier to aceklr of ~a~ tl~e fifty-eighth 58th}
a~tniversary of tl~e date of tl~e issuance of tl~e Release of Cobs#ructiol~ averlants for Phase R-_,
or fib} Deccrnber• 31, 2a~5. Not~vithstandit~ the fo~•egoing, the firll Nate An~oun# may be
accele~•ated as se# fo~•~h in ectiar~ 1 ~ hereof,
~~~llll~lUI1~F
As used herein, "Ar~~~r~r~I 1~~'oject ever~~~e" shall mean all g~~ass ir7co~ne and all
re~renues of arry bind fr•arn Phase irr a calendar yeah, ~ncludlr~g ~rtllout l~tnrtatron, rer~t,
ectior~ l~ housir~g assistal~ce payments, if al~y, late charges, verrdirig ~nachirre income, al~d ally
1 L~~i1L-IT 1 {~i V~~1
~OCS0~11 ~~Q67~4t~31~~~~~~-~~41
other revenues of ~vlratever4 bind or nature fr+orrr the Phase R-_ of the Project, except that
security deposits ~untrl applred}, interest on security deposits ar~d required reserves, sales
proceeds, arrd t1~e proceeds of loans, refinancings, catldemnation, ins~rrarrce claims, and par•tt~er
capital carrtributians, shall riot be considered At~r~lral Pr;oject Revenue.
As used herein, "~ip~I~crib~e ~'ec~er~~~~ ~r~~e" r~leans tl~e interest rate set by tl~e
Ul~ited states Treasury from trine to trine for' tl~e purpose of deter4r~ril~irrg applicable La~v ~ncorr~e
dousing Tax credit interest rates published by tl~e Internal Reven~re service in n~or~thly reserve
rulings,
As used herein, "~e~f `e~~vic~" means regularly scheduled payments of principal
and interest made ire a calendar{ year pursuant to the financing obtained far the developr~er~t ar~d
o~vnershrp of P11ase R-u ~~lricl~ leas been approved by the Agency pursuant to the Agrreement,
at~d ~~hich is senior i~~ lien priorrty to tl~e Agency ~oar~, but excluding payments nude prrrsrrar~t
t~ tl~e pr`an~~ssary Nate.
As used herein, ~`upr'fa~ .~~~~~crc~~~~~~~ .~ese~~~e'~ shall r~learr a reasonably required
reserve rat to exceed $~50 per unit per year' such greater arrrout~t as ruay be required by
Ier~ders or investor+ far Phase R-~, to be used ~'or the p~rrpose of replacing capital iten~s~
~n or~ before ore hundred twenty {~20}days after the err~l of the Borrower's fiscal
year, of each year conlmer~cirrg in tl~ year4 after the isstrar~ce of the Release of construction
Covenants for Phase the Borro~rer shall ant~r~ally provide the Agency are audited f~narrcial
staterrrerrt fora Phase R~~ arrd a Residual Receipts Report, in the for•~n attached to the Ar•een~ent
as Attacl~r~errt X0,10, ~vl~ich shall desc~"lbe In detarl the Ar~r~~ral Pr•ojcct Revenue, Debt service,
operating expenses, capital Replacement Reserive ~rncludrng deports therein ar~d experiditrrres
therefrarr~, and Resid~~al Receipts far; that year far Phase Rw~. The Barroer~ shall also subrr~it
to tl~e Agency, an or before one l~~zr7dred t~~ret~ty { 1 days after, the end of the Borra~ver's fiscal
year, of each year comt~errcing in the year' of the rssuarrce of the Release of orastr{~rction
Covenants for t Phase R-`, at~ra~~al audited financial staterner~ts ~~ith respect to the Project that
have been revre~ved by atr rr~dependent cer•tr~ed public accountant, tage~her with an expressed
~vriitter~ opinion of tl~e certified p~rblic accountant that such financial statements present the
financial position, results of operations, acrd cash flows fairly ar~d in accordance ~vitl~ ger~eraily
accepted acco~ir7tirr pr{ir~ciples,
~`~pe~~afr'~rg ~~~~~ge~" and "~.~r~rr~c~~ ~~~c~~" shall rrreat~ the ar~rrual operating
budget for each Phase of the Project drat sets forth the projected operating Bxper~ses for the
upcornit~g year that is s~rbjct to at~d sl7all be submitted for revre~v and approval by executive
Director, in hisllrer reasonable discr{etion, each year' during the Affordability Period pursuant to
section 401.E of tyre Agreernent~
"~~~e~~a~r~~ .~.xp~trse~" shall mean actual, reasonable and customary {for
comparable high quality rer7tal Dousing developments its ~r~ange Calrnty~ costs, fees and
expenses directly incurred, paid, and attrib~rtable to tl~e operation, maintenance and management
of each Phase of the Rental Portion of the Project in a calendar' year', and ~~~hich is reasonably
cansrstent ~vrth the arrrrual ~peratir~g Budget for each Phase appra~ed by Agency pursuant to
401 ~9 of the Agrieerrrent, rncludrng; painting, eleanit~g, repairs, alterations, landscaping, utilities,
ATTAHET ND. 88-2
~DCS~CII ~~~~~`3~~~ 31~~~272~~~~~
1•efuse rerr~oval, ce1•ti~cates, permits and licenses, se~e1• el~arges, real and personal prapel~t~r
taxes, assesslnel~ts, il~sur"ar]ce, sec~rlt~~, adver•tlsing and pralnatrorl, ~a1~1tOr"gal services, eleanrr~
at~d building supplies, pu1•chase, repair, ser~lcing and installatiall of appliances, equipment,
fixtures ar~d furr~ishir~s, fees and expel~ses of prapel•t~r management, fees and expenses of
accoul~tants, a~tarile~s and otl~er plofessianals, the cast of sacral sei•vlces and otl~er l~ausing
suppoi•ti~re sere?ices pi'a~rlded at tl~e Px•ojeet consistent ~~ritl~ De~relapel•'s approved Tax l~e~lit
Applications to TEA for Phase -1 and Phase repayr~ent of arl~ completion ari operatil~
Ioat~s node to Develapel•, at~d otlie~• actlral, reasonable and ct~stomal•~ apel•atil7g costs at~d capital
cans ~vhlcll are direeti~ incur"i'ed and paid b~ Developers but which are not paid fialn ar eligible
to be paid f1•ain the apltal Replacelnent Reserve o1• and otl~er' i~esei•ve aceot~nt for tl~e applicable
Plisse. Ta the extent tl~e ~pe1'atrrig ~xpel~ses fel" a Phase are not reasonably consistent v~rtll tl~e
annual Opeiatil~ Budget fa1• a given year, tine Agency Executive Dil~eetol• shall i'easal~bly
x•evie~v al~d approve to cot~fi~•n~ tzeh Operating Expel~ses al'e reasonable aril act~lai~ ~ncur~r"ed;
provided, loo approval sl~all be 1•~~uiled for emei•ellcy expel~ditures reasanabl~ necessat"y or"
appropl"fate to pr"eselve life, limb, or pz'ope~•ty,
Dper•ati~~g Expenses sliall e~~•c~r~~ aii of the folla~virig; ~i} solar"ies of en~playees
of Developer" a1' Developer"'s general averliead expel~ses, or expenses, cosh and fees paid to an
Affiliate ~ Developer, to the extent and oftl~e foregoing exceed the expenses, casts or fees tl~at
~vauld be payable in a bans fide arlns' lengtl~ tralisaetiall bet~veen t~nx•elated parties In the ~1•ange
Ca«rity area fo1• the same ~vorl~ ar services; iii} at~~ alnour]ts paid dir•ectl~ a tenant of the
Re~~tal Pai•tio11 of the Project tD t1111'd party ill con~~ectiol~ ~vi~h expenses ~vi~ich, if incurred by
Developeli, auld be Operating Expel~ses; ~iii~ optional or• elective paylnerit ~~+itlr respect to
fina~~cin approval pl~r"scant to ectiar~ l ~ 1 of Mlle Agreement the "P1"imar'y Loan"~ ~ulxles
rrlade ~'~1t11 the carlet~t of the Executive Dlrectol• il~ her" r•easanable discretion}; Div) expenses,
expenditures and cl~ares of ar~y i~atur'e ~4~hatsoever arising ai' ilrctu•red b,~ Developer prior to
completion of the applicable Plisse of tl~e Rel~tal Po1•trori of the Pi"o~ect itl~ respect to tl~e
develop~ne~lt, l~air~teliarrce at~d upl~eep of tl~e applicable Please of the Recital Portion of the
Project, ~1• ar~~~ pal~tion tl~er"eof, rnclud111g, ~vitl~ot~t limitation all costs a~~d capitalised expenses
tncul{red by Developel~ in co~~l~ection ~vlth rile ac~t~isitiol~ of the bite f1•om tlae Agency ~e.g, riot
leasing to lo~v income tenants}, all pl'edevelopn~ent acid preconstructian activities cor~dtlcted by
Developer in connection ~itli the Re~~tal Pol`tion of the P1•aject, including, ~vithat~t lltnltatlo~~, the
preparatiar~ of all plal~s al~d the pe1•farn~ar~ce of and tests, stlydies, i~ivestigations a~• other ~varlc,
and the construction of tl~e Re~~tal Partian of the Pt•o
jeer arld and an-site ol" aff~site ~~ork i1~
connectiol~ tl~ere~vitlr; Zvi} depreciatiol~, atnorti~ation, and accr~~ed principal and interest expense
ors deferred pa~l~ler]t debt; acid vii} a~~~ Pal~tnersl~ip Related Fees to tl~e exter~t their ar;e rat paid
as capitalrzed expenses,
"~~rr~t~r~~~s~r~~ Ar~~~~rre~rt" means the par~tlaershlp agr'eernerit bet~veen tlYe
De~~elopei• al~d the ~nvestar• Lirrllted Pa1'trier.
"pc~~4~~rer~s~~r'~~ .~~rr~ed Fees" sliall lnean tl~e folla~viri Fees of each Developer'
el~tit~, or partners thereof p~zr•staant to the Par~nei'ship Agreement, which are actuall~~ paid
~i~ a general pa1•tner~s} ~adn~inistrative andlor managing pa1•tner~s}~
partnelshlp inalragelnel~t fee payable to rile general pa~•tt~er~s} ir1 a ctrlnt~lative alriour~t not to
ATTAHET N~, SB-~
1~~C~0~11 ~I~~G7~v1 ~1~0~~7z-1001
l
exceed T~~enty~Fi~e Tl~ousand Dollars ~~2~,000~ per year, increased a1~n~~ally CPI abut ~n no
cent by more tl~an CPI},
iii} a lin.~ited pal•tner asset n~anagelnelit fee payable to the Investor Lit~~ted
Par•fnel• in an amaunt llot to ea~ceed Fire Thousand Dollars ~~~000~ per year, il~c~•eased a~~nually
by CPI {bit in no event by mode than CPS}; at~d
{iii} an anl~ual a~zdit fee in alld for any calex~dal~ year.
In no event shall the fees for and X11} above cu~ulatl~ely exceed T1111`ty
Tho~~sal~d Dollars ~30,000~ il~ at~y one year exclusive oftl~e CPI adj~rstmel~t allowed per ~i~ and
iii} above.} ill tl~e e~el~t illsuff
icient Annrlal Project R~4'~17u~S ~lst provide for payrrrerlt of all
ol• pant of the specific Pa~~tnership Related Fees listed above, loo interest shall accl•ue ~lZ tl~e
~~llpald pol~t~ons s~~ch Pal~t~aership Related Foes, bc~t the unpaid balal~ce gill be added to the
Partl~erslilp Related Fees due 11~ tl~e follo~v~ng ~eal•,
"~esrt~rrrr~.Reei}~fs" shall l~nean Annual Project Re~re~~~~e for the applicable Please
less tl~e sum of:
{i~ ~perat~t~ P~xpenses;
Debt er~r~ce;
~iii~ Reserve Deposits to tl~e Capital Replacel~relt Reserve;
~i~} Partnership Related ~`ecs;
unpaid Tai Credit adjustment alnaunt, if al~y ~aftel• 1•evier~ arld
~•easonable serif
icatioi~ b~ Ael~c~~ ~~eci~t~~e Diriector of doc~~~~ents l~ro~ic~ed bar De~elo~er
sllo~vin props"Iety ofs~~ch zo~rnts and paymcrlts};
Zvi} ~•epay~~el~t of loal~s, if any made by tl~e lil~nited partt~er~s~ of
Developer, il~cl~~ci~~ il~terest t tl~e Applicable Federal Rate ~t~le p~•opriety of ar~y such loans
trust be 1•easol~ably ~reri~ed by Ael~cy xec~ati~e Director;
~v~~} propel~~y managen~e~~t fee for the Project v~hicl~ 1•elllaills ~lnpaid
aftel• payment of Dpel•a.tin ~xpel~ses, if al~~~;
~~lll~ Deferred Developel• Fee fol• tl~e Project ~vl~ich remaills lznpaid, ~f
al~y, incl~ldit~ il~telest at tl~e Applicable Fedel•al Rate, if applicable, and s~~bject to ectiol~ X03,
et seq.;
~ix~ Repayment of outstanding de~~eloplnelit and operating loans, if
at~y, made by the adll~llllstrati~e andlor managing genet•al pal•t~Yers andlor the ttarat~tors to the
Project, including interest at the Applicable Federal Rate ~tl~e pl•opriety of any sucl~ Loans
p~r~•suant to the terms of the Partnersl~ip Az~een~ent mltst be 1•easonably ~el•ified by Agency
xec~~ti~re Dit•ector;
ATTACI-I~~~'
~OC~DC1~ ~~DG~~v 13i~4~27~•~~~1
fix} capital ~ontr;ib~~tia~~s ~a the Pra~ect, if and, made b~ the ~~~er•~I
par~rier•s ar tnanag~t~ t~er~ber, as applicable, of Developer that ~~ere used to pay tine Deveiaper
fee,
ecrrz4ity~ This Nate is secured by a Deed of Trust ~tl~e "Deed of Trust"} dated as
of the same date as this Nate.
Narr~~eeorr~~se. This Nate shall car~stitr?te a nonrecourse obligation of Bar•ro~~er•,
Neiti~er Bor•~•o~~~er, rear ar~y of its pattt~ers general ar lirited~ si~all l~a~e at~y personal liability for
payment ot~ pet;fat{t~larlce of this Note, ~n tine event of default hereunder, the Ager~c~'s sole
recourse shall be to prace~d aait~st the collateral descz~ibed its the Deed of Trust.
7, ai~~x•s
a, ~arra~~er• expressly agrees that this Note ar• any payrrrer~t hereu~~deti nay
he extended fi~ot~r tirr~e to titrre at the Agency's sole discretior~ and that the agency r~~ay accept
secrrr4tty tt~ cat7sideratrorl for' any s~te~~ extension ar release any security fat this Note at its sale
drseretiar~ alb ~vitlaaut its ~~Tay affecting tl~e liability ofBotro~~er.
b~ No extension of time far payrnetat of this Nate rude by agreerrrerrt by the
Agency ~~ith arry person na~~ ar i~e~•ea~er liable for the payrner~t of this Note shall operate to
t~elease, discharge, rr~odify, change at~ affect the original liability of Bot~xa~er ut~deri this Note,
either its ~~l~oie at~ iti pat•t.
c, The obligations of ~or•r•o~~er4 under this Nate shall be absal~tte and
Borr•o~~er• ~~ai~res a~ly and all tights to offset, deduct or• ~~ritl~hald any payrrrents or charges date
ztnder this Note for any reasar~s ~~rl~atsaevet•~
~i~ Borr•o~ver• ~~ai~es presentment, demand, notice of protest and nat~paytner~t,
notice of default ar delinquency, notice of acceler•atian, Notice of casts, expenses or leases ar
rnteres~ therear~, r~otice of disl~anor, diligence in callectiat~ or itr proceeding against ar~y of the
tights of ir~terests rrl ar• to properties securing of this Nate, ar~d tl7e benefit of any exetnptiar~
~t~~der any homestead exernptior~ la~~s, if apps icable.
No pre~~ous ~~ai~er• ar~d rio failure ar belay by Agency ire acting ~~ritl~
respect to the terms of this Nate at the Deed of Trust shall cat~stitrrte a ~~ai~er• of any breach,
default, ar failurie or condition under this Nate, the Deed of Trust or the obligations secured
thereby. A~ ~~ai~et of any term of this Note, t~~e Deed of Trust ar of ar~y of tl~e obligations
seelrred thereby rn~tst be made in ~~riting and shall be limited to the e~pt~ess ~~r~~tte~l terrrrs of such
a
~~at~er.
S~ .~tfar~~~eys' Fees ar~d hosts. Bart•a~ver agrees that rf arly aina~tnts d€te rtndeti this
Nate ar•e not paid ~~her~ date, to pad' its addrtran, alI casts and expenses of collection acrd
reasonable attorneys' fees paid ar incurred in connection ~~itll tl~e ca~lection a~~ enforcerrrent of
this Nate, w~l7ether of teat suit is filed.
ATTA~~NTN~. SB-5
D~ C ~0 Cl~ ~~~6?3~' ~ 31~0~~7~-~0~ ~
3
9, Jo~rr~ acrd Several ~b~iga~~on, This Note is the faint and several ob~igatio~~ of all
makers, sureties, guarantors at~d e~idol•se~•s, and shall be hindi~ig upon #he111 grid their belts,
successo~•s and assigr~sf
lU. Anielldlileli~$ ~~ld ~Udl~iCaf~0r1S~ This Note may not ~e cl~a~iged arally~ but
only by ate ametidrnent iii ~v1•itin sighed by ~orro~ver and by the Agency,
11, Agency day Assign, Agel~cy may, at its optio~i, assign tts rlgli# #0 1•eceive
pay~r~ent under' this No#e ~vltlia~~t necessity of obt~~~r~~g #lie canse~~t of the Bo1•ro~ver.
~3ori4ower• Assig~~merit ~i#o~r~bited, In na event snail ~ar~•oer assign a1• t~~ansfel•
any po1•tiari of #liis Nate ~vitlia~r# file p1•ior exp~~ess written consent of file Agency, ~vhicli consent
shall riot unreasonably be withheld, except prrl•suatit to a trallsfer• ~vliicl~ is per~ni#ted or app~•oved
pursuari# to tl~e terms of #lie Agree111e~it,
~3~ Ter~rris~ Any terms ~~ot sepal•ately defined liele~n shall Have the sa~r~e I~IeaIlillS as
set fat•tl~ lI~ tl~e Agt•eexnent.
Acceler~a#iar~ acrd ~tirez~ ~emed~es~ Upon: #lle occurr•e11ce of an event of
Dfaul# as defined in file Agr•eet~rerit and delivery of notice and expiratio~~ of the cure per4iod
desctiibed therein, or fib} Borrower selling, contracting to sell, givitl an aptio~~ to p~r1•cliasc,
conveying, leasing, f~~~•tl~er encur~ibe~~it~g, rilortgagin, assigni~ig o~~ alienating tl~e Bor1•o~ver's
interest irl ~'hase R-_ ~otlic~• #l~an as permitted or approved pursuant to the Agreeme~it}, whether
directly or indi~•ectly, ~vlietlier voluntarily or itivoluntar•ily or by aperatiari of la~v, 01' arty irr#et+est
In Prase ~-_t, 01` llffer'lrig Its t~tie, 01` fitly ~~7ter~st tri Pliasc R,„~ to divested, ~vliether
vol~~nta~~ily or illvol~~nta1•ily, ~vrtlio~~t #l~e corisetit of the Agency or as otliet•~vis a~1+~ved o~•
per111itted uridel• #lic Agrcenient, Agency relay, at Age~~cy's option, declare file oatstandirig
principal arilo~~nt of tills Note, togetliel• with #l~e #herr acc~iucd and unpaid interest thereon and
other charges ~~ercunder, and all other Burns secured by #lie Deed of TI•ust, to be due acid payable
immediately, and upon such dcclara#io~i, such pz~incipal aril interest and other sums shall
iriilnediately beca~ne and be d~~e and payable ~vitlia~~t demand or ~rotice, all as fi~t•ti~er set forth iti
the Decd of Trus#. All costs of collection, i~~cluding, but not li~tiited to, ~•easonable attorneys'
fees and all e~pcnses i~icur;red lt~ corinectlon ~v~th protection off, or~ r•eali~ation on, the scc~~~~i#y for•
this No#e, may be added to file principal he1•eullder, at~d shall accr~~e interest as p~•ovided herein,
Agency shall at all tines have the t•~ght to proceed agall~st any pol~t~on of file sec~zt•ity for this
Note in such order and ire such rilanrier• as such Agency nay callside1~ appropriate, without
waiving a~ly rights with respect to a~Yy of
the secr~rity, Arid delay ~r orn~sslon oI~ the pat•t o~ the
Agency its exerclsrng a~~y right liere~~rider, under #lie Agree~~lent or ~~nde~• the Deed of T~•~~st shall
not operate as a waiver of si~cli right, oli of at~y otliel• right, No single or partial exercise of any
1•il~t or re111edy he~•eundel• (31• ~zx~dei' the Agreerr~ent or any ather document or agreement shai 1
precl~~de otliel• ar f~~~~t11e1• exercises thereof, a1• the exercise of arty other right or ~•e~r~edy, Tlie
accepta~ice of payment of any sr~tii pa}able hereunder, or pant thereof, aver the due date of such
payment shall not he a ~valver of Age~icy's right to either require prompt pa~~rnent ~vheri due of
all other s~~ms payable l~e~•eutider a1• to declare all event of Default for failure to ~nalCe proriip# 01•
complete payrr~erit,
ATTA~~ViENT ND, 8B-~
~ ~~so~11 ~I~~~~3~~ ] 3t~~~~ 72 ~ 1
15, uccsoi~ al~d A~rg~ls, l7etie~e~i "~~4.elie~" is ~'efet•red to ilk this ~tC, «eh
I'efei'enee sha~i be deemed to IIiC~€Ide the a~nlnunit~ ~ede~eloplnetit ~,ene~ of the ~it~ of
Santa ~I~a alid ifs ueeessars acid assil~s, ilielUdin, ~~ithaut Iil~itatloll, ali~ s«bsecluent asslgtiee
ar holder' of ti~is Note. ,ill co~enalits, pl'ovisions and a~reeli~elit or all laehaif of Boy#ra~ver,
and behalf of al~y ~~lakers, endorsers, «a1'a~I~tors and sut'etie hei•~of
~~iiici~ ~r~ ~a~itained
liei'eiti sliail initi'e to the henef~t aftiie ~genc~r acid Aene~'s suecessol's alid assigns,
Iseel~a~ieou~s, TII~e is off' the eseilee hel'eof, This Node sail be ga~erl~ed
acid eolitr~~ed ltnder the la~~s of the State of ~allfot'liia except to the etel~t Federal ia~~s pt~eelrlpt
the lames of the state of aliforli~a, Bo~~~'o~ver ~rre~oeably acid ~~ncond~tio~~all~ s~bli~its to the
j~~r~sdietion ~f the Silperiar o~~l•t of the State of allfortiia~ for tiie ot~tity of ~ra~ie lti
Calill~Ct1Q11 ~Vltll ai~~ ~e~a~ aetloll ar pl'~Ceed111 al'1Sili o~lt Df ai' i'elatlti to thl~ date, Bo1'I'o~~et'
also ~~ai~es any oh~ection rea~'din personal or retn j~~r~sd~ct~an or veti~e~
~
~r:
its;
7.~J~~1 w~ ~ V 4 ~ I
D~~50C1~ ~~~~i7~~~ 13i~~027~-~~~ 1
ATT,AH~'I~NT N~, ~
~EORDIl~ RE~TEST~I~ B~, }
ADD ~N RE~RDEI~ ~riA,~~. T~; ~
~rrrrrrlllrlt~ ~d~v~~Oplrretlt ~~errcy }
of fire of Santa Ana ~
~a ~~ic Center Plaza ~
atria Arta, California 9702 ~
Attn: ExeCttti~e Dii•V.!#4/r ~
Tlris dac~~metrt i exempt fr~arrr ~rayrnent of a
r•ecar'ding fee prtrsuartt to overrrrnent Code
ectiorrs 27~ S~ and ~ ~ .
or ~~T A~~ A~N~~T or ANTS
T~IIS ~~~D TT ANA ASS~NNT RESTS is made ~ of the
dad of ~ ~ ~ ~ ~ , ~a i o, b~ arrd at~ang {~Tr~ustor~~
~ ~
~vhose address
~s
.
~"Trustee}'~ ~~T1rDSe addr'e~s is
~ , acrd the ~i~iNYT~ REDE'~EE4P~IENT .AEN'~
THE ~T~' SANTA ANA, a public body, corporate and politic ~"Bene~ciar~~"~, ~~l~ose
address is 2a i~ic Cerrter• Plaza, arrta ~t~a, Califor'x~~a 97D ~
F~ DAD ANA '~ALUA~L~ C~N~DEATi~N~ including thetndebted~~ess herein
recited a~ld the ~r'l~st herein created, tl~e receipt of ~~hich is ~rereb~ acl~no~vleded, Tr~asto~~ l~ereb~
irrevoeabl~ gratrts, t~'at~sfers, eonve~s and assigns to Tr'~~stee, ~N TST, KITH P~~R
SASE, far' tlae benefit acrd security of Beneficia.r~, under and subject to the ter'rr~s and condit~ot~s
hereinafter' set forth, the p~'opert~ located its tyre City of atria Aria, orrrrt~~ of grange, State of
Califoz'nia, drat rs deSCr"lhed lt~ ~xhtblt A, a#taeied irer'eto and tl~i~ ~~eferetree incor~poriated
her'errr (the "Pl'Oper'ty"~,
T~~ET~R 1rT~ all rents, iss~zes, profits, royalties, income and otlre~;benefits derived
fr'otr~ the Propert~~ ~collectivel~, the "rents"}, provided that so long as Trustor is not in defa~~lt
lrer'eurrder, it shall be perrrritted to collect rents and operate tl~e Property;
T~ET~E~ NTH all itrterests, estates oa~ other' clairr~s, both In la~v at~d rn ec~«rty ~~l~rch
Trustor' no~v has or mad hereafter` ac~illl'e irr the Property acrd the rents;
T~ET~~ iT~ all easernet~t, rilrts-of~~~ay and rights used irr conxrectian tlrer'e~vith
or as a means of access tl~er'eto, rrrcl~~drr~, ~~rtlrout lrn~~trn the generality of ~l~e far'eoing, all
tenerrrent5, 1re1'edrt~merrts acrd appua'tenatlees tiret'eof and the~'eto;
T~ET~ NTH arry acrd all buildings arrd irnpr'ovements no4v o~~ hereafter' erected
tlrereon, and all property of tl~e Trustor rro~v or hereafter' affixed to or~ placed upon the Property,
inel~~d~ng, ~~itlro~~t linritation, all fixtures, attacht~rerrts, appliances, fi~rr~ishings, eq~~xpt~ent and
trraclrirrer'y ~~~lrether' fixed or rrro~able~ acrd other articles ~~ncruding, in eaclr itrstance,
ATTAC~E~T ~
DOCSDC~~~~~73~rr31240~72-~OOI
improvements, re~tora#ions, ~•eplacen~ents, repairs, additions, accessions or substltutl0~ls #ller'eta
or #l~erefor~;
T~CET~.R NTH all leasehold estate, right, title gild interest of Tr~rstor in and all
leases or ~€tblases ca~er'ing the P~•o~er~ty or any portion #l~ereof no~v or• h.er•eafter e~rst~n or
entered into, ar~d alI right, title a~~d ire#er•es# of Trus#or #hereu~~de~~, ~ncludir~, v~ri#l~o~r# Simi#atio~~,
all cash or secl~rity deposi#, advance rentals, acrd deposi#~ on ~ay~nents of similar t7a#ure;
T~~T~ER KITH all right, #itle ar~d interest of
Tr~usto~~ in and t~ all ap#ior~~ to ~urcl~ae
or lease #~he Property or any po~•tiot~ thereof or• i~~#er•est #lterein, and ar~~? g~•ea#er estate iri the
Property o~vr~ed or llereafter• acgUlr•ed,
T~C~THE~ '1~~TH all rih#, title acid i~~te~•est Tr'«stor•, t~o~~ owned or l~er•eae~•
acquired, in and to any land lyi~~ within the right~of ~~ay of any ~#ree#, open or proposed,
adjoining the Property, arrd arly and all sidewalks, alleys at~d stt4ips a~~d gores land adjacent to
or used ire cont~ec#ion ~~itll the Property;
T~C~THER NTH all tl~e estate, interest, right, title, other elai~rr or demand, of every
r~at~rr'e, rri and #o such property, it~cludit~ the Property, both i~~ la~~ and ire eq~~i#y, including, but
no# litr~ited to, aII deposits ~~aaie ~vitll or• o#l~e~' ~~CUr1ty glverl by T~'r~stor utrlrty cornpan~es, the
~~•oceeds from any or all of such prope~•ty, incl~~di~lg tl~e Pr•opea~ty, clailrrs or dern.ands Zvi#h
respect to the ~•oeeeds of ins~~rance in effec# with respect thereto, ~vl~ich T~•~zstor no~v leas or may
hereafter acquire, any and all a~~ards made for the #aki~~g by emir~en# domain or by ar~y
pr•oceedir~ or prrr•cl~ase in lieu #l~er~eof of the ~~Thole or at~y paa't of such property, incl~rding
Zvi#l~out limita.tior~, any a~var'ds res€~ltir~g froth a change of grade o~ streets and a~raz•ds for
sever+atlce damages;
All of the foregoing, #ogetl~er uTitl~ the Property, is l~ercin referred. to as tl~e "Security,"
p"~R THE P~1RP~S~ 5~I~C;
~ . Repayrrre~a# of that certain p~•onlissory no#e in #l~e p~~incipal sum of
$ : ~ : da#ed .:..~::::::a ~Ol o ~"Pro~~~issory No#e"} ira favor ofBenefieiary.
2, Performance of all covenants and obliatio~~s of Trustor ender #hat certain
"Regulatory Ar•eex~ent" bet~veerl Trustor and beneficiary, of even date l~ere~vitl~,
Payment and per~`o~~r~rance of all covex~at~ts and obligations of Trustor' under that
certarrl "Disposition ar~d Development Agr•een~er~t" bet~~~een Trustor and Beneficiary, of even
date l~ere~vitl~,
Paymerl# and performance of all covenan#s and obliga#ions of Trustar under #his
Deed of Tres#,
ATTAH~i~T 9-~
DoCSOC1~~~~b?3w~ 1 ~i~U~~7~-~D~1
ARTI~L~ ~
~Lr~ITI~~
1, ~'he term "xpit+atian Date" ~Y~eans tl~e date upon ~rl~~ch tl~e P~~otr~issory dote leas
been paid i~~ f~~ll, a~~d all atl~et• obligations tl~e perfa~~~nat~ce of ~~hich is sec~~red toy this Deed of
Tt'ust have been satisfied,
;`~r•ape~'ty" mea.t~s tl~e real prope~ity refer~~ed to ~n exhibit A attached hereto,
, "security" means tl~e Prapert~ and all appu~~~enant i~Y~pto~e~~~e~lts,
AR'~~CL~
AI~'~NANE ODY~~A~`I~N ~'H~ PR~~~~T~
~D ~~H~~~} R~L,~~ U~~ ~A~YNi~~T
ectio~i 2,1 Matntet~at~ce at~d Iodlficatian of tl~e P~~apet•ty by ~'r«stor, Tl~e `~`a•~~star
agrees that at all ti~~~es prior to tl~e C~piratiot~ Date, ~l~e ~'r~~sto~i ~~ill, at tl~e T~~«stat•'s o~~rx~
expense, ~nait~tain and preserve tl~e l~rope~~ty.
ectia~~ release of,ec~, upon its receipt of tl~e t•epayr~ent of alI alno~~nts due
ut~de~~ tl~e ~t'arnissoz~y dote, and a~~ other abli at~ons the erfortnance of ~vhich is secured this
~ ~
Deed of'~~~~~st have beets satis#"ied, the Beneficia~•y shall, upon tl~e regr~es~ of tl~e ~rustor, delivez4
to the 7'r~~sto~~ such lntrutents as are reasonably necessary to co~~firn~ the release of the security
frox~~ tl~e lie~~ ofthis Deed ofTr~#st,
~RTIL~
I~~~'RI~~~~A.'~~~~, ~~~~A~T ADD A1~N~'~
ectian 3,~ Defense ofthe Title, ~'l~e ~'r~~sta~' covenants that it ~s la~vfr~lly seised and
possessed of title iii fee simple to the Property, that it has good. ~iigl~t to sell, coney or• athel;v~ie
tt•at~sfer oi• e~~cr~rr~bei' the sa~~e, and that tiae Ti~~stoi•, fog' itself and its successors a~~d assigns,
tivarra~~~s at~d will farevei• defend the right at~d title to the fareoit~g described acid cot~~~eyed
pi'aperty u~~ta tl~e Beneficiary, its sriccessai•s and assigns, against the claits of all persons
~hoinsoc~er, excepting only enc~~inbi•ar~ces approved by the Beneficiary,
Section ~i~s~e~tiot~ of tl~e Pt~~p~~'ty, Tl~e Trutor covenants anal agrees that at ally
aid all reasonable tin7es and ~~poz~ reasai~able notice, the Benefclai' at~d its dul authorized
y y
agei~ts, attol•t~eys, e~pex~t, enitle~i's, accountants and represe~~tati~es, shall have the i•ig~at,
~~rithotit payinent of charges or fees, to inspect the P~'opel•tyr
1 V~~~~~ ~J 4 J
~o~sQ~~~~~~~~~'~~~~~~~~~~~~~1 t
AI~T~L Y~
~~E"~S ~F D~~.~UL'p A~~] R~~~II~
Section ,~,1_ ~ver~ts of Defattlt Defined. Tire accurrence of any failure of the Ttsustor to
pay the ~'romissory dote or #o otherwise perfa~4~r~ ~ a~ligation tl~ perfarmance of which is
sect~~+ed by tltis Deed of Trust, and fire cantinuatiart of sttclt failure far a period of thirty
bt~sir~ess days as to tnanetary oblia#ions ar~d sixty business days as to Hari-monetary
ob~iatiatrs far sucl~ additional time as tray be reasanably Necessary p~"avlded #hat Trt~star
comn~e~ces cu~•e wi#ltrri sucl~ sixty ~~~}day period and #l~ereaf#et4 diligently pt"osect~tcs such ctu'e
#a cor~.pletion}, a~e~~ wrttter~ Nonce specify~rtg such failure and re~t~estin tl~at it be r•e~r~edied
shall slave beex~ give. to Trustar from file Beneficiary, shall be ate "~~ret~t of Default" or• a
"Defat~It" tinder{ tlais Deed of Tres#~
Sectiatr ~,2 Accelez'atiori of aturit . ~f a~i E~ex~t of Defat~It sltall nave occtu'x'ed and
cotltlnuing, tl~en ttte entire indebtedness secured ltexeby shall, at tl~e optian of #lte Beneficia~"y,
irnN~edi~tely ~eco~ne dt~e rid payable witl~ottt native or dema~~d wlticl~ are hereby expressly
waived, and no or~nissiart ors the part of tl~e Beneficiary to exet~cise stzch optio~~ wl~en er~t~tled to
da so shall be cortstz't~ed as a waiver ofsueh right,
Section ~.3 Tl~e Betlef~ciar 's ~i lit to Bt~teti and Take Possession. ~f aN Event of
Default shall l~a~e occt~r•red and be contirtt~in, the ~3er~e~ciary may;
~a} EitherF iN persot3 or by agent, ~~~i#l~ or ~~~itl~ot~t br"ingirrg a~~~ .c#ion or
proeeeding, or by a reeei~er appointed by a cot~~~t, ar~d ~~it~xout regard to the adequacy of its
secu~•ity, e~~#e~" upon the Prapctty and #al~ possessian tl~ereof ~or~ any pay+t thereaf} a~~d of a~~y of
file Secttrity, in its awN name or in the r~atne of Trustee, and do any acts whicl~ it deems
necessa~•y or desirable #a preserve the value, marl~etability ar ren#ability of the Praper+ty, or part
the~•eof o~"interest #herein, ittcrease the income #he~•ef~"orn ar• p~'o#ect t17e ect~r~lt~ ~~e~'eof and, with
or wi#hot~t taking possession of tl~e Ptaper•ty, stye for ail otherwise collect the rents, issues and
profits tl~ereaf, including tl~ose past dire and unpaid, arld apply tl~e Sartre, less casts at~d axpet~ses
of operatiar~ and collectiat~, including attotr~eys' fees, t~par~ at~y it~debted~~ess secured ltereb~T, all
its sttclt ardor as Beneficiary may determine. The er~terit~g upon and ta~itlg pasession of the
Propet4ty, tl~e collectiar~ of sucl~ re~~ts, issues and profits and the application theteaf, as afatesaid,
shall Hat cure ar wane any Default ar notice of Defa~zlt lleret~ndcr ar tnval~date any act dotle in
~~esportse to such Default or" pursuant #a st~cl~ notice of Default and, natwi#hsta~ding rite
contit~uat~ce in possession of #l~e Property ar the collection, ~"eceipt and application of rents,
issttes otk profits, Beneficia~",y shall be etttttled to exercise c~ery tight provided fat" iri #l~is Deed of
Tt`tlt, the ~gree~r~ent or by law upon o~currer~ce of atly ~~er~t of Default, ir~cludirt the right to
exercise the power of sale Trustar re~t~ests that a copy of any o#ice of Default and a cagy of
any notice of Sale her•et~nder be mailed to Tz~t~stot• if at its address given herein;
amtnence an actiotr to fareclase this Deed of `~'~"ust, appoint a reeeiver, or
specifically enforce any of the co~et~ants hereof;
~c} Deliver to Trustee a written declaration of default and detrtand far sale,
and a written notice of ~le~'at~lt and eleetio~~ to ca~~se Trusto~•'s interest in tl7e property to be sold,
ATTA~IBT 9-4
1~~~DCII ~ODG7~v~ 31~~~~~~-0~0 ~
~~hich notice Trr~stee ar Beneficiat~y shall ca~~se to be duly filed far recar~d in tl~e Official Records
of the bounty i~r which the proper*~~ is located; ar
~~er'cise all otlrer• rights arrd ~•er~redies provided lrereirr, in tine instrume~~ts
by ~~lrich the Tr~~stor ac~~~irs title to the property, including any Security, or irr any other
doctrrrretrt ar areerr~ent noti~ a~i l~er'eafter e~iderrcing, creati~~ ar' sec~zrin all ar~ any portio~a of
the a~ligatiarrs secured lre~•eby, or pravided by la~~,
ectiorr„ ~,4 ,~orec~asr~re,,,B~~ Po~~ret~ of male, houid the Beneficiary elect tv far~eciase by
exercise of flre pa~~er of sale lrerei~r carrtai~red, fire >eneficiar shall Motif Trustee acrd shall de alit
p
~vltl~ Tr~rstee tl~~s Deed of Trust hand the depasit of ~~l~ich shall be deemed to corrstit~~te e~~iderrce
t}rat the a~rrar~rrt of fire Promissory dote i immediately dr~e acrd payable}, acid s~~cl~ receipts acrd
e~~rdetrce of airy expenditures ~rrade that are ad~litio~rally secr~red hereby a Trr~stee array require,
~a~ l~pon receipt of such notice from the ~e~reficiary, Tr4ustee shall car~se to be
retarded, publlslred and de~i~er~ed to Trustar' such notice of Defa~~lt and election to Sell as their
re~r~ired la~~ and by this Deed of Tr•ust~ Trustee shall, ~~ritlrot~t derrrand ot~ Tr~~stor, after lapse
of s~zch time as ~~ay tller] ~ r"equir'ed by la~~ and after• recor'datlarr of srrclr atice of De~'ar~lt arrd
after ~ot~ce of dale ha~~irrg been given as req~zired by la~~, sell the Prape~•ty, at the time acrd place
of sale fixed by rt rrr said Notlce of Sale, either as a ~~hale ar• ix~ separate fats ar parcels ar' lter~n
as Tr~rrstee shall deem expedient and irr s~~ch order s it may deterrrrirre, at public a~~ctiorr to the
lriglrest bidder, for cash i~r lawful rrra~~ey of
tl~e United states payable at the tine of sale, T~~ustee
shall deliver to sr~cll purci~aser ar• purchasers thereaf its goad at~d sufficient deed ar deeds
can~eyltr the pr'aperty so sold, but 4~rthor~t any ca~er~arrt or• arrarrty, express ar implied. The
recitals irr s~~cl~ deed of any rnatter•s ar Facts shall be co~rtlusi~e proof
of the ~r~~#lrfi~lness thereaf,
Any per'sa~r, including, ~~~thatit ~~tnttatrarr, Trr~stor, Trustee ar• beneficiary, tray p~~rc~~ase at s~~c~~
sale, anal Tr~~stat• hereby co~errants to ~~ar~•ant acrd defend the title of s~~ch p~~rclaaser or
pr~rclrasers.
~h After deducting all reasonable casts, fees acrd expenses of Tr~~stee,
rtrclr~d~ng costs of e~rdence of title qtr carrtrectran ~~rth sutlr sale, Trustee s~~all apply tie proceeds
of sale to payment af; ~i} tl~e Prainissory date; ~rr~ all other• s~~~ns then sec~~i•ed hereby; and
~lil~ the ~•et~rairrder, if any, to the person or persons legally entitled tlrex~eta,
~c~ Trristee may postpone sale of all or airy po~~tion of the Praper•ty by public
airi~or~t~cerneirt at such time acrd place of sale, arrd from tine to time tlrexeafter', aid witlrarit
firr'tlrer iratice r~ral~e such sale at the tiir~e fixed ~ the list postponement, or Wray, iir its discretion,
give a ne~v notice ofsale.
ectiorr l~ecei~er', ~f a~~ >~~errt of Default shall lra~e otturred a~~d be continuing,
Beneficrary, as a matter of r•rglat arrd 4~ithout f~irtlrer notice to Trustar• ar at~yane ciaitriirrg ender
Security, and 1~rltl~lout regard to the there ~~all~e of the property or• tl~e ir~terest of Tr+ustar• therein,
shall lra~e the right to apply to any court l~a~trrg jur~sd~ttiarr to appairrt a t~ecei~er• a~i reter~~ers of
the eturity far a pant thereof}, and Tr~ustor hereby ir~~e~acably tarrserrts to such appointrneirt~
Arry s~~c~h ~"~G~1~~~• or~ receivers shall lra~e all the po~~ers a~~d duties of ~~ecei~ers to life ar; si~r~ilar'
cases, and all the powers gird duties of Be~tef
~cia~•~ itr case of e~~tr'y as p~•a~tded herein, acrd shall
ATTA~~~~T N~f 9-5
DSO Cl~ 4006~3~~ l 3f~~~~7~-~D~ 1
i
continue as such and exercise all such po~~ers r~ntil tl~e date of confirmation of sale of the
Property, ux~less such ~•ecei~er•sl~i~ is soorte~~ tee+rrrirlated.
eetiar~ remedies cumulative, ~o r•igl~t~ po~~er• or r•ernedy conferred uparr or
r•eser~ed to tl~e Beneficiary by dais Deed of Trust is intended to be exclusive of any atlier• right,
po~~et ar remedy, ~~~t each and every such tight, po~ver and remedy shall be c~~~rtulative and
coltcurrerlt a~~d shall be ire addition to any other tight, pa~~rer• and remedy grveri l~ex'er~rider• of t~a~~
or~ hereafter existing at lam ar in eq~rity,
section ~,7 a ai~er~
~a} ~Io delay ~i' omission of the Beneficia~'y to exercise any tight, po~~er• or' rernedy
accr~rir~g t~porl a~~y Default shall exhaust ar impair arty such right, po~~er or remedy, or shall ~e
constr€red to be a ~rai~er of ar~y srich Default ar acquiescence thereir7; and e~er•y i4iht, power and
rerrredy given by this Deed afTrust to the Be~~efierary ~x~ay be exercised fi~o~r~ time to titrre and as
aftet~ as may be deemed expeditious by the Ber~ef
iciatiy~ o consent ar• waiver, expressed o~i
itsplied, by tl~e Beneficiary to ar of a~~y breach by tl~e TrTr~stor i~~ the per•fortrrar~ce of the
o~bligatior~s herie~~~~der• shall be deerrred or cor~str•ued to be a co~~sent to or ~~arver• of obligations of
the Tt'ustar hereunder', Pai lure ors tl~e part of file Ber~eficiar'y to complarn of any act or fail~~re to
act or• to declare ate Bver~t of Defa~~~t, ir'respect~~e of llo~~ long s~~cl~ farltzre col~tirrues, shall riot
cans~it~rte a ~~aiver4 by the Be~~eficiary of its right her'e~~t~der ar irr~pair arly ~~ights, powers ar
remedies consequent o~~ any breach ar~ Default by tl~c ~'r'rtstor,
~f tl~e >er~eficiary ~i} grants for•beararrce or an extension of time for• the payrrrent
of airy sums sec~~red hereby= iii} takes other' ot~ addrtronal sec~~rity or the payment of a~~y sums
secured ltereby, ~i ii} waives or does not exercise any right granted herein, of ire the Agreerr~er~t,
releases any part of the ecr~rity fr•on~ tl~e lien of this Deed of Tr~zst, or otl~er~~ise changes
any of tl~e tetlrrs, covena~Yts, cox~ditians of agr'eer~ents of this Deed of `rust or• the Ar•ee~~nent,
cor~se~~ts to tl~c filing of arly r~nap, plat or ~'eplat affcctlrlg the ec~~rity, ~~i~ consents to the
gi~ar~ting of ar~y easet~ic~~t or other milt affeetrng the ec~u•ity, or• vii} makes or consents to ar~y
areerner~t rrhordit~atittg tl~e lien hereof, a~~y such act or or~issior~ shall trot release, cliscl~are,
modify, change or affect the anginal liability under this Deed ofTrust, or• any other obligatior7 of
the Ti~r~star or• any subsequent p~~rcl~aser' of tl~e ec~~rity or any part thereof, ar arly maker, co~
signer, endorser, surety or gt~a~~ar~tor• ~~~tlless expressly r•eleased~; r~or shall any s~~cl~ act or
omission ~~•eciude the ~er~ef
~cia~~y fr'ot~ exercising any right, pa~~er' or ptitvllege herein granted.
ar intended to be granted rr~ tl~e ev~~t of at~y Default then made or of a~~y subseq~~ent Default,
rrar•, except othcr'~~~rse expressly p~"o~rded ~n atl rnstrument or instr~rrnents executed by the
Beneficiary shall the lien of
~l~is Deed of Trr~s~ be altered thereby, err tie e~~ent of the sale ar
transfer' bar oper'atiar~ of la~~ or other~~ise of all or any part of the Property, the Benef
~ciat~y=
~vithor~t native, is hereby authar•ized and errrpo~~ered to deal ~~~itl~ ar~y such ~er~dee oi• tr'ansferee
~~ith refe~•nce to tl~e eeurity far a pa~'t thereof} or tl~e rndebtedt~ess secured l~er'eby, or ~~itl~
r•efer'ence to any of the ter'rns, covenants, cor~ditio~xs or ar•ee~rtents het•eof, as fully aril to the
same extent as it aright deal ~~Tith the Tr'ustor and ~vitlro~~t in any ~vay releasing or discharging
ar~y lral~~lttres, ob~~atrons or~ t~t~dertakings aftlre Trrrstar•,
eetioti 4,S nits to Protect the ~eci~r'it , ~'he Beneficiary s1~aII lave pa~~er• ~l~pon
~lrnety ~~a~ days notlce to the Tr'~~tor} to i~~stitute at~d maintain such s~~its and pr•oceedirrgs as
DQCS0~1~ ~00673~tt3I2~~27~-0~~~
s
l
i
it may deem e~pedierlt to p~~event impairment of the ec~rrity hand tie rights of the
Beneficiary as secured by this Deed of Trusty by any acts ~vhich may he unla~v~i~l or any
violation of this Decd of Trust, fib} preser~re or protect its rnterest has described in this Deed ~f
Trust} its the ecl~rity and in tl~e rents, issues, profits and revenues ar'rsrr~g ti~erefrotr~, and
~c~ rest~•ait~ the enforcem~et~t of or cor~rplia~~ce itl~ any Ieislatior~ or other governmental
erlactr~net~t, rr~le ar order' that may be u~~cor7stitutional oz4 otl~er~vrse rr~valyd, if the et~force~rrent far
compliance ~vith s~~ci~ enactment, rule or order ~varrld rrrrpalr~ the security theret~r~der or be
prej~zdicial to the interests ofthe Beneficiary,
ectio~~ ~~9 Trustee l~a~ _F~~~ P~~oafs of
Clain, ~z~ tine case of a~~~ rec~i~ership,
insolvency, bankruptcy, reorganizatiar~, arrangement} ad~ustr~et~t, co~~position or atl~er•
proceedings affecti~~ the Tr~~stor, its creditors ar its property?, the Benef
lclar~, to tl~e exte~~t
perr~ritted by la~~r, shall be entitled to file sr~ch proofs of claim and other documents as may be
~~ecessary or• advisable in order to lave the claims ofthe Bet~e~ciary allowed i~~ such proceedings
for' the e~~ti~~e at~raunt due and payable by tl~e Tr~~stoz~ u~~der this Deed of Trust at the date of the
ir~stitutiorr of such proceedings at~d fora any additional a~nour~t ~~~f~ich may becot~e due ar~d
payable by tl~e Tr~~stor hereunder after s~~ch date.
ART~~~ ~
ectian 5, t Amendrr~ents, This instrume~~t eaririot be awed, cl~at~ed, discharged or•
ter~~~inated orally, but only by an ir~strurnet~t tt~ ~~ritir~g signed by tl~e party against ~vliorrr
er~forcer~ent of any waiver, change discharge or ter;rni~~atiar~ is sought,
ectio~~ 5.2 Recor~ve ~~ce b Trustee, ~Jpon ~v~~ittet~ request of beneficiary stating
that all srrrns at~d other obl~gatrons sec~~red he~~eby lave been paid or periforrrred, and ~~pon
s~~rre~~der of this Deed of Trust to Trustee for cancellation ar~d rete~~tiox~, and rrpan payrrrerrt by
Trustor of Trustee's reasonable fees, Trustee shall recot~vey to Trustor, or to the person or
persons legally entitled thereto, ~itl~out ~arrat~ty, po~~tion of the property then held
her+errr~der, Tile recitals in such recorrveyance of any matters or facts shall be conclusive proof of
the t~~r~tl~frrlriess thereof, Tl~e grantee in a~~y reconveyance nra.y be descxkibed as "the person or
person legally entitled thereto,"
ectiorx Si3 ~ttarr~eys' fees, fn the event that a~~y parties Irer'eto resort to legal action
in order to enforce tl~e prav~srons of tlir Deed of Trust or defend s~~cl~ s~~it, the revailin art
p g p
sl~al be entitled to receive reir~burseruent fror~~ the non-prevarlrr~g pa~~ty for all reasonable
attorneys' fees and all other costs incurred in cor~r~lencing ar defending such s~~lt~
ectian notices, henever4 Beneficiary, Tr~~stor or Trustee shall desire to ire or
serve any Notice, demand, request or atller con~nr~~~nicatiar~ 4vitli respect to ti~is Deed of Trust,
each such r~otlce, demand, req~~est, aa{ other cornrnut~ication shall be in ~~rrtrr~g and shall be
effective only if' tine sage is delivered by persorzal service or z~ailed by registered or certified
rrraii, postage prepaid, r;et~~rr~ receipts requested, or by telegram, addressed to the add~•es set farti~
in tl~e first pay+agr~aph a~' this Deed of Trirrst, Arly patty may at an~~ time ct~at~ge its a~id~•ess for
~TTl 14J11Li ,T ~LJr J I
3
such notices b~ delive~~in or rna~lin to the othei• pal`ttes her`eta, as afal`esaid, a notice of s~~c~~
change,
Section S,~ Acce tance b Tr~~stee. Tr~~stee accepts this Trr~st when this Deed of
Trust, duly executed slid acknowledged, is made a public 1`coi`d as provided ~y law,
ectio~~ 5,~ Ca tiaras, Tlie captions a~~ l~eadil~gs at tl~e begiririing each
ectiola hereof are foi~ the corl~eriierice of tl~e par`t~es and ar;e ~~at a part of tlli~ Deed of Tr`~~~t,
Section 5,7 ~n~alidit of Certain ~'r+a~lsrolis, E~el`y pra~isian of this Deed of Tr`~~st is
iriterided to be se~eral~le, In tl~e event a~~y term or pra~isiori hereof is declared to be illegal or
ln~~alid foi~ any 1`easan wliatsaever by a coi~r•t of cainpetelit ~urisdictiari, such 111egalit ar
, ,
ln~al~dlty shall not affect the balance of tine ~e~"tn~ at~d pr~~~siol~s l~ez•eof, ~~~hicla t~•rns ar~d
pr`a~isiolis shall remain binding grid enforceable. ~ tl~e Iieli of this Deed of Tr~lt is it~~alid al`
unenforceable as to a~iy part ofthe debt, o~~ ifthe lien is ili~alid ar unez~forceable a to ali~ pa~'t of
the ec~~r4ity, the ul~secured ar partially secured portion of the debt, acid aII paymex~ts ~riade on tl~e
debt, whether ~oluritar`y or under; foreclos~~r`e or atlier e~~forcelnent action or praced~~~`e, shall be
considered to have beef first pall on a~~d applied to the fr1I1 payment of that portion of the debt
~~lilcli is plot secured Di' pai`tialiy secured by the lierx of this Deed of
Tr`~~st.
Sectia~i 5, a Mer ex•. ~f title to the propet'ty sliali became jested iri tl~e Beneficia~~y,
this Deed afTrr~st acid the lien created hereby shall Iiat be destr'ayed or ter'Ir~inated by applicatiari
of the doctr`ilie cf merger and, iri s~#c~l evelit, Beneficiary shall continue to l~a~e acid e~~joy all of
the r'iglits slid privileges of Beneficiary under this Deed of Trust. ~li additiari, rrpoli for'eclosur+e
under' this Deed of T~`rrst p~~r`sua~~t to the pro~islans hereof, any leases or subleases then e~isti~lg
a~Yd affecting all ar any por•ticn of the security shall riot be destroyed or tertrrinated by
application of the Taw of Merger` ar a a mattex~ of law o~i as a result of s~~cl~ foreclos~rr`e unless
Beneficiary or any purchaser at ariy sr~ch foreclosure shall sa elect ~o act b~ oi` O1~ behalf of
Benef
~ciar,~ ar ali~r rrcli purcl~aseri shall co~~stitl~te a terrniriat~on af` alit' lease or sublease «~less
Bel~eficlary o~~ such purcl~asel` shall gi~~e written notice of
tern~intior~ to such tenant o~•
subt~I~lit,
Section 5 ~9 o~e~~l~in haw, This Deed of Tr~~st shall b over`lied by alid constl'~red
in accar`dance with the laws ofthe State of alifar•riia,
Section l ~ elider anti ~l~mber`, lt~ this Deed of
Tr~rst the si~~gular shall i~iclrlde the
pl~~ral acid the ~~ascullrie shall ilicl~zde the felnir~it~e and neuter` and rice ~er`sa, if the cot~te~t so
I'eC~Ulr`e,
Sectlot~ . ~ ~ ~orld~st€11'ba>~ce ~ Irel~t. IIl the e~erlt of at~y for'eclos~~r'e ~ tI]1S Deed
of Trust or a tr`ai~sfer' rn i~eu of foreclosure, Beneficiar` ot4 other` tl`nsferee shall recd n~ze alid
y g
riot dist~~r`b the passessia~i, teria~~c~, leasehold estate and rights of all teliat~ts and occi~parits of the
~'I`operty ar al~y portion thereof, and shall honor` acid abide by all of the terliis, co~enarits and
canditiot~s of each Tease far` tlae remalning balalice of the term ar' e~tensiari thereof ~~ritli tiae same
farce and effect as if Beneficia~~y ar s~~cli other tt'arisfe~;ee ~~ere the ar•Iglnal lessor ~~nder tl~e Tease;
provided, lio~~e~er`, that the tenant ~s not iri defalrlt ulider its lease at~d Bene~ciar{y or such atlier
transferee shall I~ot be ~a~ liable far a~~y darna.ge, Iris ar eperise arisi~~g from and act or al~iissiala
ATTA~ME~T 9-
D C~~ 1~~Ob73~r13}~~~27~-000
of prior lessoz~ including Tr;u~ta~4} ~~r~~~r n~ lea, sul~~eat to ~r~~ ol~l~~~fs, al~aterrrent~,
rent z'e~luctions or defenses ~~hiclr the tenant ~na~ be entitled to assert against ax~y prior lessor
~includirrg Tr~~sto~i} uncles' and lease, or fie} liable or responsible for ozk ~~ith respect to the
r`cte~~tion, application ancllor~ ret~rr`r~ t~ tl~e tenant of and sec~~~~it~ depaslt paid to and prior lessor
~ineluding Tr`rzstor} under` and lease, ~~hetller` 0~4 not still held b~ ar~~r prior lessor ~includlt~
T~'crstor~, ~~nless and until Berre~ciar`~ ar slrch atl~er` tra~xsferee has actually received far its o~~n
aeco~r~t as lessor uncles the lease the full amount of such sec~~r`ity deposit or a credit tl~e~`efor.
Mach tenant and occl~~ant of the ~'t'opert~ shall, upo~~ at~y foreclos~~re of this Deed of Trust ~a4
transfer ~xa lien of foreclos~zr'e, lie bound to l~eneficiar~ or' s~~ch other transferee ut~deai all of the
terri~, covenants and conditions of Else tenant's lease far the r~er~~a~nin l~alarrce of the ter~t
tlre~'eof or exterrsio~~ tl~ereaf, ~~ritl~ tl~e sage force and effect as if Beneficia~~~ or such atlrer`
trat~sfe~'e ~~ere the original lessor' u~3der scrcl~ lease, a~~d tl~e tenant shall attorrl to Bet~efieiar'~ or
srreh athcr' tr'ar~sferee as its lesso~•, srlch aftor'ntnent to be effective ar~d selfYoperati~e ~~itlro~~t the
execution of and firrtl~er trrstrun~ents b~ either pa~'t~, i~~~~~~ediatel~ upon tl~e tenant's receipt of
~~~'lttct~ rlatlCe fr'a~ BcllefiClat'~ or' s~~cl~ other tra~rsfer`ee or' f~'orn Tr'~1Sta1` silos tltie to the Property
lra jested in Beneficiary or such otlrer` tra~~sferee, Rent paid b~ a tenar~t or occ~zpant to the .
transferee after receipt of s~~ch ~~otiee shall be considered to be rental paytrrent urrer tl~e leasef
Ili ATE Hl±~~~, Trustor 17as exec~~ted this Deed of
Tr'~~st as of the dad tad
~ea~~ fi rst abo~~e ~~rr•itten
its;
~TT~~B1~T 9~9
~~COC~~ ~~06?3v13f2~0272.001
~HIB~'~
.14.111 V i iii JJ ~ ~ r. tJlli i i V 1 } 1J ~ ~.R J4L i3J 1lR 1J ~ ~ ~J 1J iJ V 1
~~HIBIT A AT'TAH~.T 9
DOC~~~1~4~~67~~~1~1~~~272~~~~I
T~T~ aF ~~rFOR~ ~
~
, before I~1~, , ~otar~' P~ll]11C~
Print ~a~~7e ofNatar~ ~'u ie)
~er~onaii~ appeared
~vho proved to one a~~ tl~e basis of satisfaetor~ ~ridet~ce to be tine pero~~~s} ~~rl~ase ~~a~~le~s} islare
s~~l~seril~~d to the ~vitl~in i~~st~~~~r~~e~~t at~d ach~~o~v~ec~ed to tree tl~at l~elheltl~ey exee~~ted the same i~l
~~isll~erltlleir a~rtlYOri~ed eapacity~ies~, and that b~? his~re~*ltheir sig~~at~~t~e~~} tl~e i~~st~~~~x~~ex~t t~~e
perso~~~s~, or tl~e entity upo~~ l~el~alf of ~vi~icl~ tl~e per~ta~~~ a~te~, e~ee~ated tl~e i~~~tr~?me~Yt~
~ ee~•tify ~~ncle~~ PNA~LT~ P~~~UR~ ~~~~t~er tl~e la~v~ o'the state of California. that the foregoing
paragraph is tr~~e a~~d eo~~~ieet.
ITN rn~t hand and afficial seal.
~~nature o~ Nv~ar}~ pE~~~i~
~PT~N~L
Ti~ougi~ the da~~ ~clo4v i not reci~fired by la~v, it ~~~y prove valua~ie to persatls reining of~ tine ~oeu~~lent and co~~l~ preveftt
fra~~duient reattachf~~et~t afthis for~~~,
~APA~IT~~ ~LAI~IED B4~ SIGNER DEC#~Z~TX~~ D~' ATTACHED DD~U~IE~T
q ttldi~ricinai
? Cori~orate ~#'f'ice~i
Title(s~ Ti~~e ~r Type OfDOC~~C~eltt
Partner{s} Q Li~~~i~e~
? general
~ Attarne~-Ifs-Fact
q Tr~~stee(s~
? ~rl~~f'C11~f1~DIiS~1~'~tUl' ~urn~er 0~~'ages
q ~t~l~r.
Sig~~er is representi~~:
Date D~ Doc~~n~e~~ts
Signe~s~ a€~ier Tien Named Ab~~~e
DO~~~CI1 ~~o6~3ti~t 31~~~27~-~~~1
ATTAHENT ~~.1 ~
ATr~l~l~~~r ~ o
l~~I~}UA~, l~~C~I~T R~,C~I,~RTI~N~
Previous Year
current Year
Budget Budget Actr~el difference
~peratln~ Income
Rent Payments
In~er~sl< ~arni~gs ~
Addltlorral lr~eeme ~
Total operating Income
II. ~~eratina Ex~er~ses
1'rvpefy M~nagemer~t Expenses
Adrninlstrative expenses ~
Mal'n~enance payroll & Expenses
t.Jtllity Expenses
Taxes ~
1ns~~rar~ce $
dental Expenses
Total ~perating Expenses
111, ~artnersf~lp Expensea
Partr~ersl~lp ~lar~agement Fee
Asset Management Fee
Total Fartnersl7lp Expenses
~ #nc#udes revt paid from a#! spurs inc#udir~g Secs#on ~ rer~taE assitavice.
2 ~x#uding carvings on ca~itai reserves avd tenant seeurit~ depasits.
~ Includes #at~ndry, wending rr~ac~ive, app#icatton fees, tenant forfeited deposits, and Vines #ew~ed against tenants.
~ !vc#udes empiayee saiaries; a~couvtir~g and ~oatCeeping; legai; mpl#ance rnar~itorir~g; and collection losses.
I€~cludes real estate and payro## taxes.
~ #nclude pra~e~y and #ia~iiity insurance; fideiity ~ovd insurav~e; ~~artcer's r~mpe~~s~tion ivs~rance; and #~ea#tt~ i~s~rance and emp#eyee iaeve~ts.
ATTACHE~T 1 ~
DD~~~II ~10~G?3~ft 3~~~~~7~-~OOI
A 1 T~,~HNI~N 1 N ~ ~
~'~R OI` ~~BU~~~ ~~AN AR~~NT
T~~ ~~IEBU~~R LEAN A~~ViENT nth is "Agr~cenient"~ is made as of
~
Q b and be en
~~e
~t~e "Ho~~~ebuyer•"~ and tl~c Oi1~~JNIT~' D~'~~~~P~NT A~N~ ~ T~~ IT'S
SANTA ANA, a p~~blic body, corporate and politic ~tlie "Agency"}.
R~ITAL
A~f The Agency ~ a ca~nmunrty rede~eloptnerit agency duly ararii~ed and existing
under• the aliforriia otntni~nity Rede~eloprnent La~~, Health & safety bode ectrori ~OQO,
se~~., ~"~L"~ and leas been a~~tlio~~ized to transact business and exercise tl~ pov~Ter of a
con~n~u~lity rede~elop~~~ent agency p~u•s~~ant to actiori of the pity ~aur7cil ~"pity orrncil"} of the
qty a~ Santa Aria ~"rty"~,
The Hornebuye~• leas et~ter+e lnta a pl~rchase acid sale ag~•ee~ret~t ~tlle "purcl~ase
Ag~•eet~lerit"~ ~~ritli ~ ~ _ , . . ~ :..stile `~eller~" or~ "~e~eloper"j to purchase
certai~~ real proper•#y i~npio~ed 4~ritli a single family lioErse thereon, Such real ro ert is
~ P y
carntiloniy kt~a~~ri as . ~ ~ ~ : ~ Salta Aria, ~aliforl~ia, and snore par•tic~~larly
described i~~ ~xl~ibit "A" attached l~ercta and incorporated liereiti ~tlie `Property"~,
Tl~e Aget~cy is eriaged in activities rieeessary acid appropriate to carry out the
ede~eloprnerit Plan ~tl~e "Redevelopment Plan"~ far the verged Rede~~elop~nent Pr~aect the
"Project Area"~ ~liiCh vas adopted by the pity our~cil by ~r•di~lat~ce dos. ~~G~-~7 adopted
by the pity auncil of the qty of Santa Aria ~tlie "pity"~ on epte~r~bel~ 3Q, 2aQ4,
D, ~'~#~•suant to Section ~~~3~~~, e~ s~~~, of the ~L, the Aericy bas deposited Funds
into its La~v and ade~~ate Income Housing Fund the "pausing Fund"} for tl~e purpose of
provrdr~~g sr~bsldres tp, or foci the benefit af, persons and faniilies of Low and Moderate ~ncotne
in order to assist them rri obta~nttl hausrri ~vrtil~i tl~e conirnurirty,
Tlie P~•operty liar beets constructed purs~~ant to a {`Dispositio~x a~~d T~e~elapmerit
~.greernerit" bet~veen tie Agericy arrd : ~ ~ ~ ~ ~ ~ dated as of ~ ~ ~ ~ ~ ` ~ : ~ , ~D ~ Q.
developer i~a assumed the obligations urider• tl~e Disposition aril ~e~eloplnerit Agreement ~vitl~
respect to the Phase FS ~sirigle family hones}, as defi~~ed therein, p~~r•suant to a~i Assrgrirnerit and
t ~rtli . .
Assl~mptian Aa~eemen ~ ~ ~ ~ : ~ T ~e D1 osrtrori a d
De~~elopmer~t Agreernerit ~~quires the ]~evelap~• to sell the Pr•aperty to a "Moderate ~ncor~le
Ho~~sehold" at an "Affordable Hausln aSt," as t~~ose terms ar•e defined in alifarriia ~eaitl~ ~
safety bode sections 5QQ5~,S acid QO9 and tl~e implernetitin r*egulatioris thereto ire Title 2,
~alifortlia fade of ~e~zlatioris, Sectiori ~ D, e~ serf,
F, The Dispositiori and Developrnerit Agreement requires the ~er~cy to eriter into
this Agr•eemerit to establish a s~~bor•dinate loan secured by a second tr•~rt deed to tl~e Harnebuyer•,
ATT~~H~I~~T N~,1 ~ ~ 1
Farm of l~on~ebuyer• Loan Agreement
1~~~C# 1 ~~~C~73 131~~0~72-DDS ~
at~d for tl~e Hornebuyer to agree that tl~e Prapet~ty nay only be marketed acid sold. ar~d re-sold ~or•
othe~~~~ise transferred ire ~~hale ar in par•#~ to ather• q~talil~ed Moderate Incatne Ha~seholds at an
Affordable Housing host for a fo~~ty~~~e ~4~~ year period canforrning to Healtl~ Safety fade
Section 33aa0, e~ set,, in particular Section ~3~~~~ e~ ~e~~. {tl~e "Pr•agr•atn"~, Tl~e Agency has
elected, pursuant to Health at~d Safety bode Section 3333~,3~f~~I~~~~ to per•rnit sales of tl~e
Prioperty prior to the expiration of the fai-ty~five year period far a price ire excess of are
Affordable Hauling fast pt~rsuar~t to a~~ adapted pr•orar~~ t~vhicl~ protects tl~e Agency's
investment of moneys ~'i•am tl~e ~av~ at~d Moderate Incan~e Ha~~stng Fund, tlrr•ough a schedule of
equity shat~it~g that permits r•etenfian ley the Hon~eb~tyer of a po~~tian of those excess proceeds,
Tl~e Harne~~tyer regrrires financial assistance to purcl~ase the Pr•aper~ty at~d mould
~xat b able to purchase the Property ~~rrtl~out such assistance. Tile Hornebuyer rs a person or•
fan~lly ~~i~ose tncat~e is less than Moderate Incarne, as such tet~t~ is defined by ~alifor+nia Health
Safety fade Section 5~0~.
H. The Hotnebuyer represents at~d ~uarrat~ts to tl~e Agency that the I-Iarnebuyer at~d
tl~e Hot~~ehuyer's rrntnediate fat~ltlyll~auset~atd ~nei~~bet•s intend to reside in the Property as their
pr•ir~cipal residence at all tithes durrr~ the period ofthe Hornbuyeri's a~ri~et~hip ofthe Property.
I, The Aetacy ~~tshes to lend arld tl~e Hatneb~tyer ~~isl~es to bax,ra~~ train tl~e
Agency firr~ds ~n the form of a forty-fig=e {45} year loan ~tl~e {`Har~~ebuyer• Assistance Loan"~
secrrt•ed by a subordinate lien deed of trust to assist tl~e Ho~rrebtlyer• to pay a portion of the
purchase priice, do~~n payment, andfar closing costs necesar;y to buy the ~'i•opet~ty put•s~rant to the
Program arld subject to tl~e terrrrs ar~d candrtrons set fot•tll herein, The pr,it~cipal balance of tl~e
Hotrrebuyer Assistance Loan rill be fai~givet~ in the e~er~t that the Harnebuyer ~includit~ its
permitted assignees ar~d transferees i~as cotriplied ~vith ail of the terms and conditions of
#his
Agreernet~t dutiing tl~e Affordability Period,
J~ Fat a period ~tl~c "Affor•dabilityP~riod"} cor~~rl~encir~g upon tl~e date an Mich the
Ho~rreblryer acquires fee title to tine Prape~•ty ~tl~e "Harneblty~r Assis~arice Laat~ Date"} ar~d
terminating on the tarty-ftl~ ~~4t1~} ar~r~i~~et~sary the~~eof ~tl~e "Affordability Period Terr~~ination
Date"}, tine Pt~opet~tY t~~ay only be transferred to ar~atl~er eligible, qualified Moderate It~cor~te
Household at an Affordable Hausrn fast ~"Etigihle Persons and Fa~~~ilies"~~ Hatnebuyer r~~ay,
ire Harnebuyer•'s sale discr•etian, opt to t~•at~sfer the Pr~opet•ty at a price in excess of are Affordable
Housing fast durrn the Affordability Period pursuant to Section l,f. hereof, upon payrner~t of
are equity shar4in amarrnt to the Agency l~er•eurlder,
~0', T~ER~F~~, its canslderatian of tl~e mutual prarnises ar~d co~et~ants set fat~th
herein, the Parties l~er•eto agree as fallo~~s:
1, ~onlehuyer~ Asis#a~~ee I~oar~; Pr~ornissary Nn~e,
1,1 ~Ior~~ebrryex~ Assas#aaice Laar~, Tl~e Agency loans to the Hornebuyer and
tl~e Har~eb€ryer borrio~~s from the Agency the amount of , ~ ~ . ~ . ~ ~
Dollars . . ` ~ ~tl~e "Homebuyer• Assistance Laar~ Atno~tr~t"}, subject to tl~e conditions
and restr•ictians set for•~l~ herein and thane set forth in tl~e Pran~issar•y Note, Agency Deed of
Trusts Notice of Affordable Restr4ictions, Affordable Hatrsir~g Resale Restriction, ar~d Disclosure
AT~I'AHM~NT N~,1 ~ -2
Form of Har~rebzr er Loan A reetnerrt
Y g
DOCS~CII ~~~~73~t131200~7~-400 ~
Statement has tl~ose #et+zn~ ate ~ler'~inafter de~~~ed~. T~~e De~eaper' are the Horne~t~~r' ~~a~e
opened an escrov~ ~Escr'o No. ~ ~ ~ . ~ : ~vitl~ ~ . . ~ ~ ~ : ~ esera~~ltitle eamparlY~
~ot~ Hot~tebuyer~' acquisition of the Property the "~sct'o~~r"} al~c~ the Ael~c~r sl~all a an
additional par'tY to tl~e Eer'o~~ cot~~nection ~~itll tl~e Homebl~yeri Assistance Lawn,
I~Z Prolnisso~~ Node, Tt~e Harne~tryer l~all e~ec~~te, t~al~et;, and deli~et• to
the Agency, ~ prornlssory note in fa~oz~ of the Agency, a l~older, ~uhstantially in the form of
Exl~ibit that is attached #1er'eta and irrcor'porated herein by tl~i re~erenee ~tl~e "Note" or
"1'ron~isory Note'}}, As n~ot'e ~at~ticularly provided ire the Nate, tl~e essential terrns and
condrtror~s of the Horneb~~yer' Assistance Loan at' a~ follo4~s:
t Tel~nx. The terra of the Note sl~all be forth-fire ~~5} years frorn the
~lor~7ebuyer Assista~lee Loa~~ Date ~tl~e "Terre"}.
b. dote Amou~~t, Tl~e s~ttn~ lte a~~d paya~e p~~t's~~ax~t to tet'ms
and pro~~stor~s of the Note car~sist of both the ~Iornebuyer Assistal~ce Loal~ Arno~r~~t a~~d t~~e
Cor~tir~er~t Eq€ri#~~ Par'trcrpatton Atnocr~~t, a both terns are herein defined {collecti~~ely, the
"Note Ar1~o~~nt"~~ As orle colrrpone~~t of tine Note Amount, tl~e Hot~reb~~yer shall pay to the
Ael~cy tl~e principal arno~rnt of ~ ~ ~ ~ : ~ ` ~ ~ ~ ~ ~ ~ ~ ~ ~-.Dollar's ~ ~ ~ . ~ ~ ~ a
itl~ zero percer~t ~a~I~} interest thereon, subject to suhseetlarl ~c} belo~~r,
c~ Cols#il~g~t~ ~tlui#y I'al~tleipa#lon ~ri~our~f. As a secarid
cornponent of the Note Alnottr~t, tl~e Hotnebuyetk shall pay to the Ager~ey, together ~~~ith the
v~l~ole of the Hort~ehuyerF Assistance Loan Alnoul~t} tl~e "Cor~finet~t Equity Par~tieipatiol~
Atnol~nt" if`r'equired by section 3,
t~. ~Io~i~ebuyez~ Asls~azxce Iaoal~ Amou~i#~ Interest Defe~~red U~itil
Acceleration, Tl~e olnel~~zyer{Assistance Loan An~o~~nt shall accrue zeta percent ~a°Ia~ ir~terest
~~r~less acrd ur~trl an e~rer~t of aecelet'ation occur's as set ~ot~h its Section l ~~~~3 its ~~hieh event ~
"Continge~~t Equity Partrerpatron Amount" shall heeotne due a~~d payable by t~~e Hon~e~ryer if
regr~it'ed by ectiot~
~ol~l~ll~l~'1r1' Asslstal~c Loali Anl~~i~l#~ ~'iYne 0~ ~ay~11~I1# ~liil
rorgi~~eiiess, No repayrnerit of the Horr~eb~t~?er' Assistance Loan A~r~olrt~t shall be required
~~nless at~cl until tl~e Note Ar~aunt l~ecornes clue and payable, s provided il~ subparagraph ~
beo~v,
f. Acceiera#tarl, Tl~e rl~ole of floe Note Amount and all otl~e~~
pa~Trrtel~ts due hereulYder shall becotne date ar~d be irnrnediately payable to the Agency by tl~e
Hotneb~t~rer ~tpol~ tl~e oceut're~~ce of ~~y one of the follo~vit~ events of acceleration:
~i~ Tl~e Hor~nebuyer sells or• tra~as~et+s the P'r'operty for any pant
then;eat by any mean, it~elcrclirt, ~itlio~~t limita~ian, tl~e lease, the rentl, the e~cllarle ar otl~er
disposition of the 1'roper~ty ot• any interest tl~e~'eit~, ~~rhether ~rall~ntary ar ln~raluntary, e~eept ~A} a
sale of the Property to an elrgrhle, cfualified Moderate lneorne ~Io~~sel~old at ail A~fot'dahie
Horsing Cost 4~Titl~ tl~e Agency's prior ~~ritten appra~al accon~plisl~ed in strict conforrnit~r ~~itl~
eetion 4, or tl~e transfez# of ttae P'~~opet~ty solely a a result of tl~e marriage, di~arce,
ATTACHMENT i
Form ofHoebuyer Lawn Areerner~t
~~~oCll ~00~73s~13~2~02?~-0~~ 1
incampete~rce or deat~a of ot» or more irrdi~id~~als corrstituti~~ tl~e Hamebuyar+, sa long as the
tran~f
er4ee~s tie ~vr{ltten tea#lce r~~pa~~ted b~ reasanabre evidence a~' s~tcl~ event #a tine Agency
~~ithi~r tlrit~ty ~3a} days of its occurrence and the trax~sfe~;ee{~~ asu~r~e~s~ the Hor~.ebuyer's
ol~liatio~rs under this A~'eet~elrt, by execution of ail assinrrretrt acrd assun~ptian arcernent to
be provided by the Aetrcy, ar a sale or tratrsfer ~rl~ih render federal lam ~~o~~id not, by itself,
permrt the Agetrcy to e~ex~eie a due on sale or~ due orr enc~~trrb~~at~ce clal~se~
~1r~ The Hornehuyer refinances any p~~rclrase rnaney first lien
or atller permitted eneu~r~hrance to ~~hich the Agency Deed of TxRr~st has hereit~af~er defined} is
subardina~e ~eaelr suelr lien, a "first Lien"~ far' a loan anra~~rrt in excess of tl~e then er~rrerrt laa~l
balance secrzred by sr~clr lien ar encumbrance anti loatr cl~sit~ casts; andlar
viii} The Ha~neb~~yer ~a~rd all co-signors a~r~d ca-trrartagars, if
a~~y} fails to own acrd occupy the ~r~oper;#~ as #i~ei~~ ~r~it~cipai riesidence purs~~trt to ectio~a ~ a~~ is
i~r ~~~r~~e~~sl~~p Default defined iii ect~on 8~ ~rnder tl~i Aree~r7e~rt,
At tine request of tl~e Ha~~ebuyer, acrd for a specific occasion, tie Ae~rcy rrray, i~r
its sale and ahsol~~te discr~etloir, ita ~~~ritit~g ~~ai~e the re~r~irernents of this s~zbpa~~araplr ~ and
defer repayment andlor e~terrd the terrn of the Note Atry r~aiver or deferment shall be arr a case
by case basis, and rra f€rfur~e rights for ~~ai~rc~~ ar clefertnet~t shall anise ar be ltnplled,
Nat~~ithstandi~r the far~egain~, the Hamebuyer rnay, uparr prior ~vrittelr ap~pro~ral by the Aet~cy,
refi~~arrce any First Lie~r far a loan an~outrt egr~al to ar~ less tlra~r the then c~~rret~t lawn balance
sec~ued by sr~ch First Lien,
Homeb~~yct• AssrsfalYC~ Loaz~ e~~ayme~~#. If there is arr e~~ent of
acceleration p~iiar to the tarty-fish ~Stll~ Arrnr~rersar~r of the date of the Prarnissary Nate, the
I~otr~ebrryer shall repay the Haz~reb~~yer Assistance Laa~i in accordance ~vit~h tl~is subparagraph
In the event that rro evert of acceleratiatr occurs prior to the forty-fi~lr {~tlr~ Anniversary of
the date of fire Prot~rissory Note, the f«I1 a~~ro~~trt of the Protnissary Natc shall he forgiven, and
there slrail be fro f~rrtlrer obi iatians hereunder.
~i} Node Alrrotrnt Dtre Ili ~`~~1~, The ~virole of the Nate
Anrar~t~t shat! be due in full ~vlrelr ate eve~~t of aeceleratia~r occurs, After paying alI casts and fees
relati~rg to tl~e t~~ansactiatr, if any ~suclr as escrow fees, t~;at~s-~ea~ tapes, recoridi~l fees, hrokerae
cam~rrissiotrs a~~d simiiar casts}, the proceeds of any such transactiat~ for, in tl~e case of arry e~~errt
of acceleration atlrer than a safe, tl~e appraised value of the Property} shall be distribr~ted or
applied itr the folla~virrg order ofpriarity;
~A~ Repayment of the First Lie~~;
~B} Repayn~errt of other pre-appro~red stzbazdinate
iie~i~s}, if arry, as and in the lien recordrng priority that suel~ lien~s~ ~~ere approved by #lre
~ecutl~e Director pug+s~~at~t to ectiarrs l,~~i} and 14;
Repa~~rrent to the Agency of the Hor~rebu~?e~~
Assistance Loan An~or~~~t; and
1. l~~Hiil~} R~ ~~J 4 ~ A ~ 1
Farm of Horrreb~~yer Loa~r Agreetnent
DOCSaII~i~~b73~~r3~2~~272-~~D I
l
>'ayment of the ontingent ~qulty ~'at~trcr~atlal~
Amount, if any,
~r~ ecu~~~t~t far ~Ia~rlbilyex~ Ass~s~axzc ~oa~~f The obligatiol~ oft~~
Holr~ebtryer to repay tl~e Ho~rtebuyer Assistal~ce Laar~ pu1'suan~ to this Agreelrrellt, as e~idelleed
by the Promissory Note, sl~all be secured by a s~~hordina~te deed of trrrst al~d rider' thereta
erlcul~ll~eril~g tl~e Property, substa~l~ially in the for~11 of Exhlblt that is attaelled hereto arld
incorporated l~et~il~ by tl~is ~~eference the "Agency ~]eed of Trust"}. Tl~e Agency Deed of Trust
shall be executed by the Homebuyel', as trustol', X11 fa~o1' of the A~11C~, as beneficial'y,
u~ar•~irt~f~on. ub~ect to the subordination p~'o~~slol~s set fa1~l~
11~1`~111 arld 111 the Note and the Affol'dable Houslt~g Rest~'1ct1QI1, tl~e Agellcy Deed Trtlst
sllall be subordinate o111y to the ~'i1'st Lie1~ mortgage obtained by the Holrlebuyer and, if
applicable, other oala~s} as approved by tl~e ~xecuti~e Director, includi~~ lien il~stl'r~l~ents that
secure other hornebt~yer p~rrclaase l~l~ll~y al~dlar do~~~~paytr~e~~t assistance, 1ncluding ~v~tl3a~lt
lil~itatian pity, State of California, ~I' federal affordable 1lousillg progra~ns,
j~ P~'epay~~ie~~t of ~Ior~~eb~iyer Ass~s~ance ~,aall, T11e Ha1~lebuyer
may prepay the Horl~ebuyer Assistal~ce Loaf to tl~e Agency, p~+o~ided that and prepayment must
be in ftlll a~1d clot its part Prepaylr~e~~t silali be treated in the salve l~~anl~l~ as 1'efl~al~cil~g of the
PI'operty. In any e~e11t, the Affordable Housillg resale ~estr'letlot~ s11a11 Co11tl11t1~ 111 full fo1'ce
and effect, nat~~itl~stal~dillg strcl~ prepaynlent.
k, Ass~r~rlptl~I1 ~olt~eblly~t• Ass~sta~~ce ~oat1 ~tli~ PI'QIrilSp1~?
ate. T11e Holnebtlyer' Assistance 1Joan and tine ~'l~olissory Note may b asstlt~ed by a
stlbseuellt ~t~alified Moderate ~ncorne Hatlsel~old, as purchaser of tine ~'roper~ty, but only ~~1
accordal~ec ~~itl~ the te1'n1s and col7ditions set forth 111 Section 4,
1~ ollit ~Ili~ Several. T11e ~rndel'signed, if I~101'e than one persa~~,
shall be jointly at~d se~e1'ally liable under ti~is Ag~~ee~r~el~t for' the repayl~~el~t of tine Holr~ebt~yer
Assistance Loan,
m~ Ho~t~el~u~~e~;'s waivers. The Hanlebuyer ~val~es ally rights to
l~egt~ire tl~e Agel~cy to: ~i~ demand payt~~ent of u~rlour~ts due ~1{n~~~n as "presentll~ent~'~, iii) give
Il{~t1C~ tllat atl~Ott~1~S due 11a~re t10t leer] paid ~kr~o~~+1~ "l~ot~ce of dls~~onot'"~ ~t1~ l~irt~ obtain at1
official ce1'tlficatlon of not~pay1I1~11~ ~kno~vn as "protest"~~
l~otice to Agez~cy, The Ha~r~ebuyer for the Horrrebtryer' heirs folla~vit~ the
death of file Homeltlyer~ agrees to l~otify tl~e Agency not less tl~al~ sixty days prior to ~i tl~e
aper~ing of escr'o for the sale of the Property, ~ii~ the si~lirlg of any areerrlerlts or doctr111e11ts
related to the transfer, includil~g, ~vithout 1i1~1itatian, lease, exchange or other dispositioll of ar~y
111t~1'~st 111 the l~1'operty, ~iii~ any p1'oposed t~efinancir~g of any l~ i~'st Lien of ~i~r} tl~e close of the
Honlebuyer's probate estate. Natlling in tllis section 2, l~a~~rever•, shall le construed to at~tllorize
the Pt'oper~ty to be leased or I•el~ted.
~orltlll~~Ilt Equ~t~r P~'~icipa~iaz~ Arnou~~t, if alp event of acceeratiorl occurs as
described il~ Sectiol~ i i~~ and ~11e Homebuyer is not seliing file Property p~r'suarlt to Section 4,
ATTAH~I~NT ~~.11 ~5
o1'm of Ho1l~ebuyer Loan Agreet~lent
DoCS~CI~ 4~Ob73~t1 ~1~~~~7~-~1~1~1
the ~arneb~~~cr shat pad to the Agency the whale of the ~o~~ebuyer Assistance Loan Arna~~rrt
atr tl~e "Cantirrgent equity Participation Atnourr~," as irer~eiiraf~er~ describe. If the Hanrebuyer'
is selling the Property to arr Elrgrble Person ar1d Fa~i~ at an Affardable ~~ousin Cost ~~ith tl~e
Agency's prior ~~ritten appro~al~ in accor•darrce ~~ith fire r'eq~rire~net~t of ectian 4 irereaf, then
na Conti~~er~t equity Par~icipa~ian Arnourrt s~~all be required ilereurrcier rn cantrectron ~v~tl~ such
sale,
3~1 a~cu~a~iorr of Corr#i~~gex~t ~gtiity Pay+~rc~pa#Ioll Am~or~~if. The
"Cantingerrt ~qult~r Par~icipatiorr A~naur~~" rnearrs are arno~~r~t egl~al to ~ per'cerrtae share of fire
appreciation of the Property determined by r~ruitiplyirrg a ~arial~ie percentage fac#ar fhe
"filar+iable ~~~iicble Factor'"~ by fire ~iffer~er~ce bet4~~een the dales Pr~lca and fire Purchase P~~ice
has those terms are her~eina~er defi~~ed},
a. ~'a~~iahle Appica~~e Fctar Calcula#iori, Tl~e ~arial~ie
Applicable Factor shall be calculated b~ di~~id~ng the Agency's fatal initial equit~~ contributio~l
~#ire ~~Ageric~r Co~rtrib~~tian"~ by the si~~n a~' the Agency Co~~t~~ibutior~ plus the ~-~arrrehuyer~'s
Cor~trib~~tiarr, ~r1 other ~vo~'ds, tl~e Agc~~cy Carrtr'ibutron shall be the nutneratar, acrd the s~~rn of
the Aget~c~t Co~~tributiatr pl~~s #ire ~otnebl~yea4 Contril~utian shall be fire derrorninator of a fi~actiot~
that eq~~als a percentage that is tine '~ariablc Applicable Factor ~subect to ectiorr 3 f 1 ~a}~i~},
'~~I'i~I~I~ Applic~bie ~~~#or' - A~enc~ o~~#rib~xti~,li~Ml,,,l„~.
AgCI1C~' CDII#1'i~lil#ion ~~mebuy~I~ Cont~~ib«#iol~
Fars e~arnple, if fire Agency Contribution equals ~3a,0a0 acrd tine ~ion~ebuyer
Carrtrrbl~tlorl eq~~als $25a,~~0, the ~ariahie Applicable Factor ~~auld equal ~a,7~lo ~~~,aaa
dl~'lded the sur~n of ~a,aa~ pins $~50,~00~,
1~,7°I~ {~'a~~i~bI~ Ap#~Iic~bl~ Fac#ar} - ~i~,00~ ~~~eltc~, ~olttrib~tio~~}
~1~~11C~' CQ11#1'iI?ll#IUII~ + ~HOI~IC~JII~'~1'
Cv~~tl~ik~utiol~} _ ~~2$~,O~U~
~i~ The "Agency Contribution" is the s~~tn of the follo~~rirrg
amou~~ts co~~tributed h~~ the Agenc~~ to the pu~ichas price of the Proper~t~; {i~ the pr~it~cipal
arnaurlt Harrrebl~yer Assistance Lawn, i,e,, the Affordable ~ausrng Cast ubsrdy has
l~erei~rafter defined; arrd iii}the principal an~aunt~s} of airy atlrer loan{s~ ar subsidy~ies}
provided b~ the Agency.
~ii~ The "~ameb~ryer Cotrtr~bution" i the sutn of the follo~~irrg
at~ounts cantril~uted by the ~orrrel~~tyer} to the purchase price of the Property; ~i}the principal
amount ~f the First Lien purchase money r~rot~tage; iii} the ~amebuycr's casl~ do~~n payrnenl:
ATTAC~~ENT ~~.11-
Faun afHarnebuyer' Laa~~ Agreet~rent
D~CSDCII ~~4b73~~131~4~2~~-ADO 1
plus tt~e omel~~~#'s ~o~•tion a~' closil~ costs and ~tii) the or'rllrl principal alnaunt of loa~ls~~~
or' other subsidy~ies~ secured by Hon~ehr~yea{~ ~e~eludin any other than loan~s~ or• subsidy~ies}
pro~lded by the Agency {as set for~ll rrl the d~f~llltlon of Agency orrtrib~~tion~~ at~d applied by
the I~olnebuyer• to~~ards the pr~~•chae of tl~e Property.
~iii~ The "purchase Price" is the al,iin~I purchase price paid l~~T
the I~or~rebuyer• ~ol• tl~e Hol~eb~~yer as tl~e qualified successor o~~ner• of the Property} to the seller
of tl~e Property the "Seller"~ ~ener'ally t~~is alr~ount shall be egr~al to tl~e origilral fair market
value of the Prope~•#y at the tiirle of tl~e initialloriinal sale of the P1•opel•ty by the Developer to
the flornebuyer•} for• the Se~le~•'s interest in the Pro~~cr~ya exclusive of escro~~ fees, title ilrsur'anc
costs broker's cot~~lrlissions, loan fees or• alry other' elosing ol• tl•ansactio~~ costs Sr~~bect to tl~e
provisions set forth lrel'einbelo~v, the ~alr~e of qualified capital Irnpro~et~elits shall be added to
the Purchase Price lrer~ calc~~latin tl~e ont~~~ent equity Participatiol~ Amount,
Div} The "Sales Price" is tl~e px~ice to be paid by tl~e prospective
buyer` ~~vho rs lrot a goal ~fied Moderate Ineor~~e Hous~hald} of the Propelty {tile "Bud+el•"~ to the
I~.ol~rebuyer ~ol• tl~e ~ornbr~yer as the qualified successor o~~rner of
~lre Priopetty~ fot• the
Ho~~~ehrryer's il~tel'est ill the Propertys exclusi~~e of zeasax~able esc~•a fees, title insr~rance costs,
l~rokel•'s cotr~lrlisiorts, loalr fees or any other; closilr ol• t~'ansactio~~ costs Tl~e Sales Price shall
be established in confo~~t~~ity ~itl~ Sectiol~ 3,~~a} Irereof, In the everrt of the I~ol~~ebuyer's
r'efi~ralrcit~g, fall~~re to occupy, ork default, the {`Sales Price" shall be cstablislled by appi•aisa~ paid
for by tl~e Plamehuyer ilr corrforrnity ~ritl~ Section ,~b~~
The "Affordable Housing fast Sr~bsidy" is the an~ar~nt
deelrred to be a subsidy from the Ael~cy pra~ided to #lre I-Ior~ebl~yel' by rrraking tl~e Property
available for pulchase at a price that col~titutes alp Affordable I~ousir~g host for• the Harnebuyer•
as a Moderate Income Ilo~~selrold~ The Affordable Ho~~sing host Subsidy egr~als the di~`ference
bet~~eerl the appraised falr l~larket val~ze of tl~e Property a~ad the Affoldable Plousi~~g fast of the
Pl•aper•ty,
,Z Clsiirg f~Ye Vat•iabie App~ieab~e Fae~ar #n I]cferr~]irie ~hc nn~itigelit
equity ~'a~'ticipa#lUll AIYro~lllf, Tl~e ontilrgent Egr~ity ~'articipa#ion Ar~ot~nt is calculated by
mr~ltiplyin the Variable Applicable Factor by the differe~~ce between the Sales Price at~d the
Pur•ehase Priee. For example, if the Variable Applicable Factor equals I4,~~/0, tl1e ol~ti~rgent
Equlty Participatiol~ Alr~or~nt would then egrlal I D,?~/o ~~ariable Applicable ~".ctor~ x Sales
Price minr~s the Purchase Price.
a. In the above example, if the Sales Price Ito occur ~#pon resale not
colrfor•lnin to Section equals 8~,00o and the Purchase Price eq~~als ~S~,oo~, the
or~tinent equity Par•trcrpatloll Alno~~l~t ~ratzld egr~al l ~,?00 ~IO~'7~Io x ~380,~~D minus
X0.7°l0 ~V~ri~b~~ Applirahl~ T~~ta~~~ x 1~~,~~U ~S~le~ Pri~~ - P~~~~clr~se P~{ire} - ~1~,7~0
(ollfinge~~t ~qui~y Pa~•~~cipatfon A~tloullf~,
ATTAH~I~T~~, l I»?
Forrrr of flomeb~~yer Load Agr•eer~lent
DOC~~C~~ ~~4G7vt 12~~272-~~~1
b~ alcuia~iol~ of CorI~illgerlt ~qui~y fax;~icipatinl~ ArIIaullt faI•
111JSequellt ~OIII~~uy~I', If pursuant to ectiarr 4} a Buyer leas fully assumed fire Harnebuyer's
ol~lratlolrs ~~trder this Aglieernent, the dote, the Agency Deed of TI'ust, the notice of affordable
Restrictiar~s acrd the Affordable Housing Resale Restrictio~~~ and thereafter' the Ire~v Buyer', as the
successor Hor~ebuyer~, def
a~rlts ail causes an e~et~t of ceeler'atiarl to occ~u•, the contingent
Bquity PaI'tlclpatron ~Axrror~nt to be paid by suclr B~ryr shall be calcl~lated ley rrrultiplying tl~e
arial~le ~.pplicable Factor, cstablisl~ed ire Section .I~a~, by #lre difference bet~reet~ the dales
Price, cstab~ished in canforn~rlty ~vrtlr Sectrorr ar~d the Purchase Price,
c~ ~o Apial~eciatiall or ~]epreciatlon lza ~ali~e of Prope~,ty, If
qtr
ev~rlt of accelertio~~ occul's at a tlrrre ~~lrer7 the Property leas not appreciated or' the value of tl~e
Property has depreciated ~tl~e dales PI"ice is less tllar~ fire Purchase Price}, tl~er~ rro Contingent
Hquity Parttclpatron Alrrotrl~t is d~?e tl~e Homebuyel' to tlrc Agency
~3 Qualified ~api~ai Irr~p~~avert~ellts, ~'he ~~al~re off' airy Qualified Capital
II~Zpravernetrts cot~~pleted by the Homebuyel' d~rl'it~g tl~e ~Ior~~ebuyer's o~~nership of
~11e Pr~opet~t~r
shall be added. to tl~e l~~rr•cl~ase P~iice when calc~rlatirr the Contingent ~cluity Par'ticipatiorr
A~~~o~rnt only if, not later' thatr thirty days prial' to the event of accceration causi~~g the
C~r1t~llgent ~~~lrty PaI't1C1pt14II ~II7Q~rnt to becorne immediately due atld payable l~€~r'suatlt to
Section l ,~~f~, file ~or~~eb~~yer strbn7its fire follo~ving to tine Agency: ~i~ ar] iterni~ed list of the
Qualified Capital Itnprovements, iii} ~~eliable proof of completion of the Qualified Capital
impr•ovemt~ts has evidelreed fi~ral b~riiding per"rnit~, a ccrtiicate of cotrrpletian o~" ar'iinal
paid invoices or constructron CQrI#I•acfs}, at~d ~rll~ arl appl'alsal fro~n a certified appraiser, i~~ form
arrd substance reasonably acceptable to the Executive Director, tl~e corlclr~slalr of l~lcl~ ~ that
the Qualified Capital i~~pr•o~err~er~ts have added the stated ar~or~~lt to tl~e fair' rnal'l~et value of the
Property.
If, within ~3a}days of receipt of the info"I~atiarr carrcernitr tl~c ~ralifieal capital
Irnprovernerrts, tl~e A,e~~cy gr~esttans the c1allned ltrcreasc ire the value of the Property by reason
of card ~ral~f
led ~aprtal Irnpr•avelnelrt~, the agency a~ad t~~ Ha~r~ebuyer rrray, by rn~rtual
agreement, establish fire val~re of'tlre Q~rali~ed Capital Irr~pravelnerrts or tl~e agency may require
an appraisal of tl~e Property, at fire ~a~~aehuyer•'s expense, by a second i~rdepender~t certified
appraiser' appoi~~ted by tl~e Agency to determine the fair• marl~et ~alr~e of fire Qualified Capital
Impra~~ements~
Credit to ~alrrehuycr, Not~vithstatidilrg the foI•egoing pI•ovisions of this
~Ct1QIZ ~ calc€~latlor~ a~ the CDntrngellt Hqurty Par'tlcrpatrarl A~rraurrt I subject to ~ llperror"
~"igl~t of fhe I:Iameb~r~?er to ~•eceive credit its calcrriatiar~ of tl~e Pu~•cl~ase Price foci ~narley prd ~y
the Hatrreblryer• post-acquisition ar~d d~~r"ink file ter'n~ of the Ho~~rebuyer's o~~~r~ersl~ip of fire
P~•aper•ty far installrnellt payrnerrts of rrror•tgage principal, pursuant to the l~'lr'st Lien actr~ally rnade
by the Horneb~ryer, rn addrtron to the fair Irrarlcet val~~e of Qr~alified Capital Impravclnet~ts
cot~srsterlt ~~'rth the requlret~er~ts of SeCtron 3.3.
3, ~eter~mlraatiolx of dales P~,ice; Appraisal,
a~ Upo~~ dale of the Property In tl~e e~er~t of a pr•apased sale of the
P~•oper~ty by tl~e Homelauyer that does not conform to Section 4, and riot less than thi~~ty ~a~ days
A'T`T'ACH~~~' ~ V • E i V
Form of Hamelouyer Loan. A~reer~ent ~
DDCS~ Cl~ ~006~3~~1 ~1~~~27~-~~~ ~
of der the Agency receives actual notice of the ~pel~ing of escro~~ IIl eol~I~eetrorl there4vltl1, the
Agency rrra~ elect to appoint a certified, il~dependent appraiser to conduct an appraisal of the
PI'operty, at the Hon~ehu~rer's expelrse, to assist the Agellc~ iIl detel'I~~ilril~ iftlre dales Pt°lce Is at
OI' r~ear~ the falr' Il~ar'~et value of the Property such tlrne, the Sales PTICe is detel'mined tl~e
appraisal to be tl~ree peI'cel~t {3°I~~ or' I~~ore ~ela~~r the fail4 maI'l~et ~al~re of the Pt'oper;t~ a
estimated its said appraisal, then the "ales Price" for' purposes ~f d~t~r'tll.Ining the Oal~tingent
~uity Participation Amo~r~~t shall be tine fair rnaz•lCet value of the Property estahlisl~ed ire said
appraisal,
b, ~~Ol] RefIrlal~citlg~`ailll~'e fo ~ccupylDefaul#. In tl~e event of
refil~ancin, failure to occ~rpy all of the PI•oper•ty iIl accol'dat~ce ~~Ith ectl~lll 7, or' defa~rlt or
h1•each of ar~~ pro~isloll of tl~rs Areerl~elrt that calrses acceleration c~Ild the contingent l~qurty
Par-ticipa~tion Anlorlrlt to becot~~e in~mdiatel~F drre and payable, tl~e "ale Price" for4 purposes of
detel'n~ining tl~e ontirxerat Ec~~~ity Participatior~ Arr~o~~t~t shall be determined b~ are appraisal of
the Propel'ty, The Agency shall appoint a cer'tlfied Independel~t appraiser' to conduct an appraisal
off' tl~e Property, at the HarYlebu~~er's expense. The I~alnel~uyer' agrees that IIl such eveI~t the
ontil~gerrt Cc~trit~ ~'az•ticipatio~x Ar~~o~r~~t shall be tl~e variable Applicable Factar• rrlultiplied by
tl~e dlffel'erlce bet~~eelr tl~e Purchase P~;ice ar~d Saes ~'z,~ce as e~tab~~~~ed ~~r t~~e a~pr'a~ed ~al~re
~ tl]Q Pr'oper'ty the #Ilrre of s~rch t"Q~r1~I1~I~1, ~c~I~Ur'~ t~ OCCII~~', aI' C~Q~c~lllt Q~ t1lIS ~I'~~I~1~Il~,
ozl~ebrryex•'s Ac~r~o~t~ed~~~er~# o~ Cori#i~~er~t ~~ui~y Par#icii~atiozr
Ali~io~iti~~
~~M~BiI~R A~~N~L~D~ AND AG~R~E THAT
DP~N ANDI~~ T1P~N ANA ~~H~ ~~~N~`
ADDITION To T~ LEAN AiVIOUNT},
~NT~N~NT PA~r~~PAT~oN An~o~N~
APPR~IA'pI~N ~r T~~ P~~P~T~ A A~~r~AT~D
P[~IiJANT T~~ ~cTroN
~~~DU~.'~I~' ~N~TIAI~; : ~ ~ ~ ~ ~ ~ ~ ~ : ~ ~ :
4, ale of Prol~err #o ~Vlodcra#e Yrican~c I~a~use~rol~~ at Af~or*dahle o~rsrlYg dos#,
~,1 Fo~~~r~~i~~c {~5} ~ear~ Affox•dabili#~T Rc~rl~~~err~e~r#~ Dtrril~g the
Affordability PeI'iod, the Property Inay be sold arrly to eligible Persons and Famrlres at are
Affar'dable Housing Oast ~~~itlr the Agency's pI"i4~r' ~~~rittel~ ~~~~ro~~al. These r`eq~riren~ents shall Eye
Sit for't~l IIl all Affol'dal~le ~ousll~g Restr`lctlon ~ondltl~Ils, o~el~a~rts, and Restt`ICtlons
Af~'ectilrg Real Pr'oper'ty alyd the Resale, O~~nership, Occupancy, Maintenance, and Other
Nutter's Related to Peal PI'~pEI'~y}, ire tl~e farrt~ that i attached laereto as xl~ibit ~`D" ar~d
Il~corpol'ated herein by this r'efere~~ce~ The Affo~+dable l~au~ir~ Resale Restl`ICtI~II per~rrits
HaI~]Q~llyer', IIl HaIllebllyel''~ sale dlscr'etrarr, tl>~'ough an ~~ent 4f acceleratlor~ pursuant to
ectiot~ l.f., to transfer the Propel'ty at a price in excess of an Affar~dable Housrn host duril~g
ATTA~I.~v~r ~ ~
PaI'm of Holnebuyer~ ~oall Agr'eelnent
~~COC~~ ~0073~~ 1 ~}~0~z7~-~~~ 1
the Affordability Periad, upon payment of the contingent E~~rity Par~icipatiar~ Arriaunt as set
f~l`tll in eetian l~ereaf,
Ver~f"rcatiur~ of ~rospeeti~re buyer's ~~reoiY~e, ~t~ order to verify the
~rospecti~e Buyer''s staters as a Moderate ~neor~re Household, tl~e Har~eb~ryer shall s~rbrr7it or•
cause the pr•opased buyer to s~rbrrrit to tl~e Agency the identity of the pr;opaed ~u~er and
adeq~rate infarrnatior~ evidencing the income and holrseliaid sire of the pr•opaed Blryer,
a~ brass income and r~et ir~cor~re of tl~e praspeeti~e ~tryer's
ho~rsehaid shall be deter~mir~ed in accar'dance ~~rth Health Safety bode ectron 5Q09 and tl~e
pr•a~rrsron of ectrans i ~ and ~9 ~ of Trtle of the alrfarr~ra fade of Regulatrans, Tl~e
praspecti~?e Buyer shall subrr~rt a cer•tl~catror~ that such Buyer is a ~Vladerate ~r~corne ~ause~iold
and meets tl~e elrgrbrlrty re~uirernents established far• the Praper~y and that the Property ~~i~~ be
sold at an Affordable Ho~zsing host by Ho~nebuyer to such l~raspecti~e B~r~?er,
~i} ~ncorne infarrrratior~ shall be srrbr~itted together with the
r~atice of proposed safe ir7 accordance ~~itl~ Sectior~ ~ nat less than t~xirty X30} days pr•rar to tl~e
aper~ir~g of escrow far{ the pro~ased sale ar~d shall ir~clude origir~al ar tr~rre copies of pay stubs,
ir~corne tai records ar• otl~er• fir~anc~al dacurnents in ar•der that tl~e Agency may rievie~v the
llo~rsel~ald ir~corn of the pt•oposed B~ryer to deterrnrrie ~~~l~etaer tl~e proposed B~ryer is a 11~~oderate
~rrcorrre Hausel~old and ~vhetl~er the Property is to be ~rar~sferr•ed to s~rcl~ B~ryer• at an Affarda~le
Hatring Cast, If tl~e Agency is unable to veri~~ Buyer's ir~cor~~e as prodded l~ereirl rior~ to the
P
proposed sale, then the Buyer's irlcorr~e shall be deemed to exceed tl~e rrraxi~rr~rn~ allowable
ir~corne li~rrit fora eligible Persar~s arrd Families,
Affordable Ho~rsi~~g Calf, Tl~e Property shall be resold by tl~e
Hon~ebuyer to tl~e Buyer at are "Affnrdable ~o~rsing Cast" tllat slxall r~lean the prrcrn for'
ader~ate Households and shall be calculated p~rr~suar~t to Califorr~ia health safety Code
ectior~ aa5~,~, tl~e irnplernenting regulations of ectior~s ~9~D, X924 and ~9a of Title of
the Califar~nia bode of Rerilatians for ~laderate income Housel~alds,
Release of A~~ordn~i~i~y, Af~er• the affordability Period Ter•minatian Date, tl~e
Property shall no longer be strh~ect to the affordability recluiren~ent of this Agr•eerner~t ar~d the
Affordable l~ausir~g Resale Restrictiar~, ar~d tl~e Ha~neb~ryer• nay sell ar trar~sfer• tl~e Property to
ar~y persarr, regardless aftl~e persat~'s ir~car~re stat~is, at tl~e Pr•opex~ty's fair rnarl~et ~l~re.
6, ~IaII1teI~c~11C~ of ~~'opel"ty. The Dor~~eb~ryer shall rnarritarn tl~e lnteriar of tl~e
pr•aper;ty ~a} its a clean, safe ai~t~ pa~eentable tnar~r~er, fib} eot~rster~t ~~rltl~ carnrrr~rnrty standards,
~c~ in a manner ~~l~ich ~~ill uphold the vl~re of the Propet•ty, {d~ ~rl accordance itl~ tl~e
t~ait~tenance r•egtrir•er~er~ts of tl~e Affordable Housing Resale Restr•ictrorl, fie} in accordance ~~itl~
the Sar~ta Arla N~~rnicipal bode and the uniform Ha~rsrr~g ~ade~ ar~d ~f~ rri accordar~ce ~~ith any
at~d all co~~er~ants and agreements established. by rry lrarnea~~ner's assacratron ol• atl~er
reg~z~atary entity recognised by area property o~~neris. Tl~e Hameb~ryer shall not allo~~ the
Property to acelrrrrrrlate debris, ar alla~v inoperable or aar~dor~ed vehicles orr the Pr~aper•ty, or•
allow ar~y other ~rr~sigl~tly ar• dar~er•o~rs conditions arz the Property, Tl~e co~enar~ts far tl~e
maintenance of the Praper~ty shall run ~~itl~ the Property and shall r•err~air~ in effect until tl~e
Affardabitit Per}iod Terrninatian Date. The Hameb~r er and tl~e A enc sl~alZ execrrte and
~ g y
ATTACHM~T NDf l l M~ D
Farm of Horrrebrryer ~,oan Agreement
Da C s0 ~O~b73~?1 ~i~~~~?~-~~~ ~
t
reco~•d the Affordable Ho~xsing resale Restr~ctian against the Property ire tl~e Official Records of
grange County, California, Tl1e Homebt~ye~, also agrees to can~ply with all applicable federal,
state and local ia~vs~
~CCUp~II~y Stall[~~~'ds, The Prope~~y shall be used as the principal per'sarial
reside~~ce of tl~e ~Iorrrebuyer• and the ~Ian~ebuye~"'s irnrnediate family and far• na ~tl~er~ purpae,
The Homebuyer shall riot e~~ter into an a~ieen~etat for the ~•e~~tal ar~ lease of all or• ar~y par"t of the
Property. Tl~e Homebuyer shall riot rent o~~t a r•oorrr or ~•oon~s in tl~e Proper"~. Tl~e Harrrebuyer'
tnay r•ecluest a ternpor•ariy ~vaivex~ of the foregoing requirement irl tl~e evert of extreme l~ardsl~ip
requiring the I~omeb~~yer• to r~love to anotixe~i geographical area ar' to less expersl~~e ho~~sing,
i~~c~rdi~~g, for exat~ple and ~Tlthollt lrmrtatran, tr"ansfer of~ab laeatlot~, lass of job, oz4 ~~~~e~peeted
rna~or expenses, The Agency trray app~iove o~• disapprove such request rr~ its sale drscr"etiar~, and
may require as a car~drtrori of appr;anal that tl~e Ho~r~ebuye~~ only rent the Prapert~ to Eligible
Persons and Pa~nilies, subject to the rrraxirnurrr affordable resat li~~~it applicable to Moderate
Ineorr~e Ho~~sel~olds as set fo~~th in Health Safety Code ectian ~Da3, Tl~e I~or~eb~~yer shall,
~~por~ der~a~1d by tl~e Agency, s~rbmit to the Ae~~cy an affidavit of occupa~~cy verifying tl~e
Ho~~~ebuyer's corr~pliarce ~~itlr this section 7~ Such affida~~it tnay be req~rlred by tl~c Agency an
an ant~~ral basis.
S, Y~~carne e~~~ii~atio~~, Tl~e Homebl~yer leas subrrritted are application and
addrtroral rnforrrration vexi~~ying ~~~coir~e ellglblllty to the Developer ar~d the Agency prior' to
exec~~tiot~ of this Agreemer~t~ Tl~e I~orrreb~~yer• r"epr•eser~ts, ~~a~•~iants, and declares ~~~~der per~alty
afpe~jury to the Agency that all ir~far"rnatiat~ the I~or~nebuyet• leas pz•o~rided and ~v~ll p~io~ide i~~ tl~e
future to tl~e De~reloper" and the Ager~cy is ar7d will be true, correct a~ld corrrplete~ The
I~amebltyer" aclCno~~ledges tlxat tl~e Agency is rclyit~g upon the Ha~rrebuyer's represeritatior~ as
to it~cotr~e, household size, assets aril other infor"~r~atiot~ to detez'i~~ne ~vhethel• tl~c I~o~r~eb~ryer is a
Moderate Ir~conle Household ar7d tl~e Agency ~~~ould riot Dave ex~te~~ed into this Agreetr~ent if tl~e
Hotnebuyer did x~ot so qualify, Its tl~e eve~~t that the Aer~ey discovers that any of suer
ir~forrrratlon is tnaterialy u~xtrue, the Agency may declare the Hon~ebuyer Assistance Loan and
the Contingent Equity Par"tlcrpatlot~ Atnoa~rlt, if at~~r, i~~nrrrediatoly due and payable,
9, NIUtlflrly ~o~1sIlg osf ~Il~~l'n1t~Ul~, Tire Ho~neb~~ye~•'s anticipated Montl~l~?
Houir~g Costs at the tithe of this A.greer~~e~~t, at~d at tl~e tine of I~arnebuyer"'s acquisitior~ of tl~e
Property, r~«st clot exceed Affordable Housing Cost, determined as folla~vs;
Affnr~tla~Ie I~n~rsi~~g as# ~ Moiler*ate II1coIne ~al~sehol~~ The
Horr~eb~~ye~~ ~ax~cl all successors thereto during the 45-year Affordability Period) sl~ali be a
Moderate Incarne ~Iousehold as defined ~~1 Health Safety Code eCtlans Saa5~.5 ar~d 5a~93
for successor stat~xtes~ and the rrrplernet~trr~ re«latiors the~~eto p~•om~llated by the Hausing and
Cotr~n~ut~ity Development Department of tl~e State of California, `fAffo~•dable Housing Cast"
means the p~rrcl~ase price for Mode~•ate Income Households pur"scant to Califarrlia I~ealtl~
Safety Cade ectior~ 5aD5~., the implernei~ting ~iegulations of S~ctians ~9~0~ ~9~~ and X930 of
Title ~ oftl~e California Code ofRegulatians for Moiler"ate Incorre Ho~zsel~olds,
1~, a~Sigl~e~~s a~~~ n~N~or~gaga~•s. The ~r~came of rridrviduals ~~~ho sigh only the
NDte ~"co-igrcr"s"~ a~~d rr~dlvrduals 4~rho sigh both tl~e Note and the grant deed. ~"ca_
n~or~tgagors") ~~Till be ir~cluded for determrnin lletl~er" tl~e Hornebuyer is a Moderate Incorr~e
ATTACHMENT N0,11-1 I
Porn of Homebuycr Loan Agreement
DOCSOCII ~~~b7~;~1~124~272-~00 ~
Houselrald~ All such ca-sigtrers atld co»~rtortgagors must part tl~e Hon~ebuyel''s lrouselrald
acrd tn~~st 1•eside in t}~e Property, Nair-acc€zpaz~ts of the ~ro~et"ty tn.~ not et;~ a ~o~si~ers otF
co-r~o~~tgaors, War may s~~clr ir~di~~duals hold title to o~~ and other property interest itr the
Fropel`ty~
~1, harried o~~ ar~~~ cpa~~a~e property. Ate ~rtd~vidual takitrg title to the ~rope~~ty
as contetrrplated by this Agleemelrt is s~~bject to special r'equtrer~relrts because of alifarnia
conrtrtunity prapet`ty la~vs and Faclet"al tax la~~s~ If tl~ Hon~ebu~el' is legally sepal'ate~, o~• his
filed far divorce and a legal pt'aper~t~r dispositiotr at'eetnelrt exists bet~veet~ the Homebrryer and
the I-~ornebuyer's spouse, qultclalrn deed f~•o~r~ the Hatneb~ryer's spouse ar~d a copy of the
p~'opert,~ disposition agreement ~~ay be required by the Agency. ~ll the absence of atr existi~~g
legal pt'operty dispositial~ agl'eetrtelrt bet~veex~ rile Hol~~ebuyel' and the ~otrrebu~er's spouse, as a
ca~~dttlorr of approval of tl~e Harneb~tyel' Asslstat~ca Loan, a clultclaltn deed, a special agl•eer~elrt
and a release of itrtel'est signed by both the ~.olrrebuye~i al~d t}re Hotrrebuyer's spouse, offer
colrsuitatiotr ~vitl~ an attorney, Wray be required by the Agetrcy, Additionally, ifthe Hanrebuyer's
spa~~s is to ~`es~de ~n the Property, the eon~b~ned ttrcarrre oftlre ~alnebuyer at~d tl~e Hanrebuyer's
spouse must be ilrcl~~ded in the itrcalne test for eligibility atnder the Pr'agraln,
1Z~ Lrrarl Set~~icir~~ The Agency tnay co~~traet ~vitl~ air outside orgatrl~attox~ to
ar"iginate a~~d ser~~ice the Homeb~~~er Assistance ~aalr.
1~, ~oxncbuy~r* Firratreirig, Tire ~on~ebuyer shall obtain First Lien prtrcl~ase tnarrey
mortgage firlancitrg ~vlricix is a fixed rate acrd fully an~ol~ti~il~ loan far' its acquisitiolr of tl~e
Pt+operty frarrr a tep~ltable institutional lender 1'easolrably acceptable to the Agency ~t}re
`~Lelydet•"~, Tl~e Holr~ebuyer shall at all times durilig the ter;lrz of ~an~eb~t~e~~ Assistance Loan
carnply ~viti~ all requiren~elrts of the Le~~de~~, including ~ltlrout lilr~itation, load rtndel'~~rrtltrg
tandal'ds, tnttrlrn~~m do~v~~ payrrrelrt 1'equll'eln~nt, pr~vato trrortgae lt]S~tl'atrc~ t'ecll~lre~net~ts,
}io~rlebrryer ed~~catiolr req~ziz`ements, and tax acrd ltrsurance impound requiternetrts~ ~lr addition,
rrat less than three percent ~3~I~} of tl~ p~rr`ctase pace of the Propel`ty sha}1 be paid in cash froln
the Homebuyer's ou~n t"esout'ces and ~~ot f~~ot~~ the proceeds of a loan sec~~~`ed by a lien on the
Propel'ty, and giffs and seller concessions lna~r lrat be used to meet this reuir"elnetrt, except as
otl~elT~vise permitted by tl~e Lender. The total alnat~~xt of tl~e First Lien tnor'tgage loa~~ and
Harrleb~~~er As~stalrce Load ~ltr add~t~ot~ to other affordable }rousing Iaat~s or ra~rts described frr
section 3,1 } shall not exceed the s~llrr oft}~c fain marl~et value of the Frop~~ty at tl~e tilde of the
Hot~~ebuyet''spurelrase o~ tl~e Pr~apelty and lralr-recurr4i~xg closing casts,
ll~ordirrafio~t, except as provided otl~er~vise herein, tl~e provisions of t}~~s
Areelnelrt, the Notice of Affordability Restrictions, the Aetrc~? Deed of T~`tlst, and the
Affordable ~a~~sirr Resale Restriction, alyd the obiiatiotrs therein, shall be suba~•dinate only to
the First Lieu orr the Property held by the Lender` atrd, ifapplicable, other laatr~s} as approved by
the xec~ztivo Director, including lien instruments that secul'e other harneb~ryer purchase malrey
andlar da~vrrpay~nel~t asslstarlce, lncl«dttrg ~v~tholrt ltmltatlon ~lty, State of alif`orx~ia, o~~ federal
affordable harrying pr'ogt'al~s, ~vhicl~ liens shall lrot impair the rights of the Lender`, or the
Lender's asigl~ee ar successor in interest or the Agency, if applicab}e, to exercise their" remedies
udder' the Fit"st Lien in the event of defa~zlt ~~t~de~i tl~e First Lien by the Halnebtt~e~•~ Such
relrtedies under the l~'irst Lietr include the tight of foreclosltre or acceptance of a deed or
sslgz~met~t In lieu of foreclosures ~f title to the Fropet•ty is trat~sfer~'ed by foreclas~~te or
ATTAPt~I~NT N 11 « 12
Farm of Hon~ebuyer Loalr Agreel~ez~t
1~OCS~CI14006~3~~] 31~~~~7~-001
acceptance of a deed ~t~ lieu of fa~'eclasrtre, ar assig~~n]ent of the First Lien to the Secretary of the
Depar'tn]er]t of ~o~~sir] and ~rbar] De~elapmer]t, this Agx'eemet~t at~d tl~e Agency Deed of Trust
shall be automatically ter~]~inated and sl]all 1]a~e na fur'tl]er effect as to the Fraper'ty ar ar]y
transferee tl]er'ea~er, Ho~~ever•, in na e~e~~t slaall this Ag~'ee~]~ent, the Agency Deed afTr'ust, ar]d
tl~e Affardable ~oltsing Resale Restr'rctran, be subat'dir]ate to any First Lren or] the Property
securRir] a laat] v~ith p~'avisio~]s ti~hich alla~~ negative ar]~ortizatiar], ar to re~r]ancing of the First
Lief for a laat~ amaur~t in excess of the s~tr]] of tl]e then c~~rr'etrt load balatrce seeur;eel b~ tl~e First
Lie~r at~d lawn closing costs.
1~,1 ~~•~~i~ of ~ecordiii~~ Tl]e Homebuyea~ agt'ees it shall instruct the ~scro~v
Ae~]t far tl~e ac~ttisitia~] of tl]e Pr'aperty by tl~e ~oi]]ebuyer drat. tl]e ar'der of recar'dir]g irr tl]e
escra~~ ~`or the put'chase of tl]e Property by Ha~neh~~ye~~ shall occ~rr as fallo~~s: ~l~ the grant
Deed the Flr'st Lier]; atl]er affordable l~o~~sing ioan~s} as described in ectia~] 3,1~ as
per~rr~tted ley the Executr~~e I~rrectot'~ the Affordable Hatzsit] Resale Restttcttor]; Notice
of Affordability Rest~~~ct~at~s and the Agency Deed of Trust. Tl~e Agency shall cause a
Req~~est far' Notice of Default to be ~'ecarded an tl]e Property subsequent to tl~e r~ecardatian of tl]e
First L]er] deed of trust ar` r~]ar'tgage r'e~uestrr]g a statlltory r]Ottce of defa~~lt as set fo~•tl] tl]e
~alifor+n~a r~rl fade Sectror~ ~9~4b, grid sl]all ca~~se a request for' Notice of l~elir]~uer]cy to be
recorded a~a tl]e ~'~'opez~ty subsequet]t to tl~e recordation of tl~e First Lier~ deed of trust ar'
rnor•tgage~
I5i Ilidemliifica~io~~, Tl]e Hon~eb~~yer sl]ll pay for'} defet]d, it~detnt]ify, and 1]old
l~arn]less the Agency and fhe lty and their respective oflicers, agents, errtployees,
represer]tati~es ar]d ~alunteer•s fiat]] and against any loss, liability, clairrr ar` judgment relatir]g in
at]y tnat]r]er to the P~'opet+ty o~4 t~]is Agt~eemet~t~ T~]e Hotriebrtyer shall retrain frilly obligated for
the payrner]t of property taxes, liens, at~d assestrrer]ts relyted #o tl]e Pr'apet'ty. There sl]all lie too
rieduction lr] taxes far tl]e ~arnebuyer', r]or ar]y transfer' of responsibili#y to tl]e Aget]cy to make
s~tclr payn]ents, by ~i~•tue aftl~e Homebuyer Assistance Laat~.
1~, ~iYSIIx•l~ce, Tl]e ~amebuyet• shall t]~aintain, during the tertrr of the Hamebuyer
Assistance Loan, at] all-risk property insurance policy it]sut'it] the Propet'ty in an at]~out]t ecl~tal
to the full replacement value afthe structrtres or] the Property, Tl]e policy sl]all natrre the Agency
ar]d tl]e pity as bass payees and shall contain a staten]ent of obligation an belralf of the carrier to
trotify tl]e Agency of any n~atex~ia~ cl~at]ge, cat]cellatian or tert]~it]ation of ca~er+age at least thirty
~~D} days in advance of tl]e date of such n]aterial charge, cancellation or' ter't]~ir]ation, Tl]e
Hor]]ebuyer shall transr~]it a copy of tl]e cer'tr~cte of rr~s~rrar]ce at]d lass payee endorsernet]t to
tl~e Aget]cy ~~itl]it] tlaii~ty ~~a~ days of the effective date of this Agt'eet]]et~t, and upon request by
the Agency, the Harr]eb~?yer' shall transrr]it to tl~e Agency further copies of the certificate of
insurance and a lass payee endorsetnerrt, Tl]e copy of the certificate of it~s~trance and loss payee
endat•set]~ent shall be transt]]itted to the Agency at tl~e address set forth rn ~ectrar] . Tile form,
contet]t, issuer of at]y certificate of its€tt'ance must be tieasot]ably acceptable to #1]e Agency.
~7~ Defa~ilts, Failure ar delay by either party to perform any term or pro~rsror] oftl]t
Areen~et]t ~~hich is rat crt~'ed ~vithin thirty ~3a~ days after receipt of notice fr'am the other' party
constitutes a default ur]der this Ar'eetnen#; pr'a~rided, 1]o~~e~er', that if sucl] defa~zlt is of the
t~atur'e r'equirrng r]]ore than thirty ~3a} days to cur's, the defaulting patty sl]all avoid default
~]et'e~tt]der by cornn]encing to cure ~~ttl~tt~ such tl]lrty ~30~ day per'iad, ar]d thereaer diligently
ATTA~HNIENT N0,11-1
Fot'n~ of Hamehuyer Lawn Agreement
~ O~J 1 ~ ~~G~3v 1 12~0~72-~~0 l
purs~~ing s~zch cure to completion. The party wl~o so fails ar delays ~~~rst itnn~ediately con~mence
to cure, co~•rect, o~{ remedy s~~cll failu~•e or delay, a~~d shall complete s~~ch cl~re, carrectto~~ or
remedy ~~ith diligence, Tl~ inj~~~•ed party shall give ~~ritfen notice of defa~~lt to the party in
default, specifying the default eo~nplained of by tl~e i~~jured party. ~~cept as required to protect
agai~~st fi~~~l~er damages, t~~e injured parfy may not i~~stit~rte pz~oceedi~~s against the party iii
default until thi~~ty ~3a} days ae~# g~~~ng such ~lotlcc~ Failure or delay in giving sucl~ notice shall
trot constitute a ~ai~er of arty default, Dior sl~all it cha~ie the tine of default, Not~~ithsta~idit~
the foregoi~~g~ far p~~rpases of acceleratian of the Ho~nebuyer Assistance Loa~~, payn~t~t of the
dote Atriau~~t it~eludi~~g tl~e o~~ti~~get~t equity Participation Atna~~~7t, or i~~itiatior~ of foreclosure
proceedings, tlle~•e shall be a disti~~ctio~~ between the types of default hereunder, including an
~~~~~~7ersh~p Default" a~ld ~ `~l~.alr~tet~ar~ce Default",
17,1 ~wne~;s~ii~~ l~e`aX~~~, The teem "~~~x~ersl~ip Default" ~eat~s tl~e fallu~•e of
tl~e Homebuyer to pe~~fortr~ at~y action o~• co~et~ant required by tl~e Affordable Housing Resale
Restriction related to o~~~~~e~•sl~~p, o~vr~er-occupancy, lien priority, and restrictio~~s on sale and
~•esale oftl~c P~•o~erty, subject to ~~otice and an oppo~~tx~~~ity to c~~re as set fot•th herei~~, A default
of any obligation sec~~~•ed ley the first ~.ien shall be a cros~defa~~lt acid also constitute ate
~v~~~e~•hip Defa~~lt~
~7,~ 1VIal~~~cnarlce ~efau~t. The terns "l~iai~~tet~a~~ce Default" ~~~eans tl~e
failure of tl~e ~otnebuyer fa perform at~y action or co~enat~t req~~ired by tae Affordable Housi~~
Resale Restriction ~~elati~~ to "Maintenance De~ciet~cy~" ~ticludin tl~e ongoing upkeep,
~naintenance, and ~~se of the 1'raperty 1~1 ~ decent, safe, sanitatiy, clea~l, a~ld neig~~borly tnan~~e~•,
subject to ~~ottce and a~~ opportunity to cure as set fot~ll lle~•ei~l ~a~xd expressly excl~~dir~g an
O~vt~ership Defa~~lt}.
~8~ ~~~11[~iLS, The Age~icy sl~a~~ be entitled to all legal at~d equitable remedies
a~ailabe under tl~e la~~ ~~pon tl~e defa~~lt aftl~e tr~r~s oftl~is Agree~~~et~t by tl~e Ho~r~ebuye~~. such
remedies nay include, ~~itllo~~t llr~ltatlo~z, ~a~ specific performance of the terms of this
Agreement, ~b~ disgorgement of ar~y amount of consideration recei~red for tl~e Propet•ty that
exceeds an Affordable Ho~~sir~g host, andlo~i ~c~ a~~ order to pay attorneys' fees} a set far~l~ its
ectio~~ ~a.
Nn~~~ai~er, l~ailu~•e to exercise ar~y right tl~e Age~lcy nay l~a~e or be e~~titled to,
in tl~e e~e~~t of default l~ereu~rder, shall x~ot constit~~te a ~~ai~er of such right o~~ any other right its
the e~re~~t of a s~~bsequet~t defa~~lt.
2~, ~]acumelzts, The Homeb~~yer is a~~rare that tl~e Agency ha.s prepared certain
documents to ln~plement the Program at~d secure repaytr~er~t of the Ho~neb~~yer Assistance 1_,oan,
~'l~e Homebuyer has ~•e~ie~ed and agrees to exec~~te tl~e follow~i~~g documents its s~~hstat~tially the
farrr~ as attached hereto p~•ior to recei~i~~ tl~e Hot~eb~~yet• Assistance Laa~~, at~d any oilier
docurne~its reasox~ably req~~ired by tl~~ Agency or a participating entity to complete tl~~
tia~~saction caiitei~np~ated herein;
f
ATTACH >~l~T ~ ~ 1
l~'ox~m of Hoirieb~iye~~ loan Agreement
DOCS~~I~~~~i~3v1 12Q~~7~-~~~1
l
Pr~amissary Note;
Age~~cy Deed ofTrkust;
c~ Affatdable Hat~sirr Resale ~estrictior~;
d, Reirnb~u'sement Ar'eernent, ~~bstantially in tl~e forrn of ~xl~ibit
attel7ed heteta and fully irreorpor'ated by this reference;
Disclosure taten~er~t substantially rr~ the form of ~xlirbrt "F"
attached hereto and fully incarpor'ated by tllrs reference; and
f, Notice of Affor"dabiit~r Restrictions, substa~~tially its tl~e forrn of
~l~ibit attael~ed lrer'eto and fully incorporated by this reference,
The ~Iornel~uyer agrees and aclcr~a~~ledges that the Agency Deed of Trr~st, the
Notice of Affordability Restrictions, ar~d tine Affordable ~or~sing .esale ~.estrictiox~ s~all be
~"ecor•ded against tl~e ~'z'opea~ty ~vitl~ tl~e bounty decor"de~• of the o~~nty of grange and shall
appear of record ~~ith respect to and as er~curnl~rances to tl~e Pr'operty' The ~omel~uyer agrees
that this Agr'eetnent may alsa be recorded,
~ur~~her; ,~ssirx•aa~ces, Tie ~amebr~yet• shai~ e~ee~~te any f~~rther docu~net~ts
C(~tlSistent ~v~th the tea"i~1s tl~s Agree~nerlt, ~~~e~udir~g ocut~ez~ts rr~ reeor~able form, tl~e
Agency shall frorn trine to trrne fire. Necessary or appropriate to effectuate its purposes its
entering lllt4 tl]ls Agl'eemet~t and rrraking tl~e Homebuyer Assistance Lawn,
o~Tex~r~ir~g L~~, Tire ~oxnebu~er he~•eb~ a~•ees to cotr~ply ~rit~~ all ardinar~ces,
rr~le, at~d regulations of the ity~ Nothing l~l tl~~s Agree~r~e~~t is intended to be, rlor• shall it be
deetned to be, a ai~er of any pity ordinance, rule, or regulation, This Ar'ee~nent shall be
go~er'r~ed by tl7e lames of tl~e State of California, Any legal action l~r'ought under this Areetr~t~t
~nrrst be instituted in the Supe~~io~~ or~~•t tine bounty of ~rat~ge, State of ~alrfor~~ia or its tl~e
D~~ited States District ~o~z~`t, ~ez~tra~ District of alifo~"~~ia, Santa At~a ~i~isioi~,
A~l~I1[IYI~II~ ~~t'~~In~Ilt~ Na rnodlficatron, resc~sslar~, ~~'al~er'a release o1'
arnendrnerlt of any pra~isian of this Agr'eemer~t shall be made exce~~t by a ~~rit#et~ aree~r~ent
execrated by tl~e ~on~ebu~?er and tl~e Agency.
2~, Agerley may Assign. The Agency rnay, at its option, assrrl or pledge its right to
r"ecei~re repa~~rnet~t of tl~e ~~arnebu~~er Assistance Lawn pracee~s ~itl~o~rt obtaining the ca~se~~t of
the Hotr~eblryer,
~5, ~urrlb~zyer• Assigl~rY~eri~ Pro~ribited, n rya e~erit shall tl~e 1-~orneb~ryer assig~~ or
transfer' any portiar~ of this Agreemc~~t ~vithout the prior express written consent of floe Age~~cy~
pur"ua~~t to the procedures set foa-th i~~ Section 4~ ~z~ the event of are ~~~r~~ersl~ip Default ar~d
acceleratror~ of the ~ornel~~~yer Assrstarlce Laan, the full arnour~t shall be due, rncludrt~ the
a~ltrngent Equity Partrcrpatran Arnour~t.
ATTA~NIEN'p ND~ ~ ~ -15
Farm of Harnebuyer' Laan Ar'eernent
~0~~~~~~0~6'~3~t131~~~~~~-~0~ 1
I~ela~ior~sltip off` Ho~nebuye~• azz~ Agex~cy, The relationship of the Ho~nebtryer
aril the Agency p~~rsuar~t to this Areerr~ent is that of debtor and cr`edito~i and shall not be, or be
constz~ued to b, a ~oit~t ~cnture, equity ventr~te, partr~ersl~ip, ar other relatranshrp.
~7, N~arr~tnr{ilrg, Ta the extent permitted by la~~, the Agency and its designated
ctrrployces at~d agents shall lave the right to enter the Property at all reasonable tirrres ~vithaut a
~ar'rar7t far' fire fur;pose a t~~onitari~~ tl~e Har~~eu~er's cot~~p~iance ~~it~ this ~t'een~et..~ny
such entry shall be made arily after reasonable notice to the Hotnebu~er;, ~~~~ict~ shalt Mean at
least f
or•ty-eight ~~8} fours in alI nan~erne~'ge~c~ sitr~ations, ~~an rccei~# ~f such na#ice, the
Hamebuyer agrees to consent to entry by tl~e Agency at~d to cooperate in making floe P~`ope~•ty
a~aiiabl fo~~ inspection by the Age~~cy. The Ho~rrcbuyer ackna~vledges ar~d agrees that. if far an~~
reason the Hornebuyer fails to cor~ser~t to such entry or ir~spectiot~, t~~e Agency may obtain are
administrative inspection warrant ot` take such atlier legal actions as may be Necessary to airy
access to and inspect the Property, The Agency shall indemnify and hall l~ar'rrrless tl~e
Hor~eb~~yer frot~~ a~~y costs, clai~r~s, daxaes o~~ liabilities peg+tain~ng to at~y such entry.
~S, ~Cotices, Ar~y r~otices, r;eq~rests ar' appra~als gi~e~~ ~~nder~ #l~is A~•ee~r~ex~t ~~ia~n one
patty to atlotlter trray be personally delivered ar ciepasited with the United States Postal service
for mailing, postage prepaid, registered or certified mail, return receipt requested to the falla~~ing
address;
>rIo~nbE~~ei~
To Agcx~cy~ ~o~r~~r~ut~ity l~edeveloptner~t Act~c~
of
the pity of at~ta Arlo.
~a ~rV1C entel' 1'la~a
Santa Ana, California ~~7D ~
Attention; ~KCC~ltl~e Dlr'cCtor`
Either party may cl~ar~ge its address far r~atice by givir~g written notice thereof to
tl~e other party,
29 Atto~~lrcys~ fees acrd os~s, Should either of the pa~•ties to this Agteernnt incur
attarr~eys' fees in seeking tl~e enforcer~rent of this Areerl~ent, ~vl~et~~ex~ ox• trot a final ca~~rt
judt~er~t is entered, the prevailing party shall be entitled to rein~b~~rsement of its reasonable
attorneys' fees at~d litigatio~~ casts, including without lirnitatian expert witness fees, by'the other
party.
~n#ir•e Agree~Yierif. This Agreerner~t, together ~vitl~ all attaclrrr~ents hereto,
constit~~tes tl~e entire understa~ldi~~g and ag~•een~ent bet~~een tl~e Age~~cy and the Homebuyer•~
This Agreement integrates all of the terms ar~d cor7ditiat~s n~et~tioned herein or incidental ther`eta,
and sr~persedes all prior t~egotiatiot~s, discussions and previous areerrrents l~et~veen the Agency
and the Ho~r~ebr~ye~~ concerning all or any pa~'t ofthe subject matter ofthi Areen~errt.
ATTA~HI~I~T N~, l 1 ~ 1
>~orrrr of Horneb~~yer Loan Agreement
~o~sa~~ ~~~~~~~t~~~~~o~~~-~a~l
i~a~~~~io block bclns ot~ follo~~ ~a~e,a
ATTAH~~~' N~~ 11 M ~ ~
Form ofHo~cbu~e~~ loan Areemer~~
DOC~QCJ14~0~?3~~~ 31~~D27~~0~~1
Y ~T~~ ''~~~~~I`, the pa~•tles ila~e e~ecute~l this A~~eetnent as ai" tl~e date set
forth ire tl~e first parag~•a~h of this Ag~•ee~~er~t.
B~;
Pt~i~~ted acne;
B~;
Pri~~ed Narne:
AG~'~;
C~T~~~~~ ~~~~V~~~~~N~` ~G~~~
0~` THE CITY A~~'A ANA, a public hods,
eon;porate aid ~al~tie
Cynthia J. eiso~
executive ~ix~ecto~i
ATTEST:
Maria ~-~~~i~a~`s Clerk of the Council
APPROVED AS T~ ~~R:
Sty;a~liing Rocca Ca~ilson aufl~,
Agency special Cout~sel
ATTC~~~~' N~, l S
~`o~•m of~ornebuyet~ Loan Agreement
n~coc~i ~~~~~~~fii oo~~~ ~~o~ i
~~~~~T cc~a~
[~o l~~t~~a~
~~IBIT A TO ATT~H~VI~NT N0. I ~
L~~ ~esc~~~ti~n of ~'~~o~ea~~
~~~D~ll ~DD67~~T 31~~~~7~-O~~l
I+~III~IT "B"
PR~ViY~~~ N~TI~~ E~'R~D ~~ED ~I` TAT
~~TIE TD ~VIAI~R~ ~NTINGI+~~ I+1~I~IT~ PARTIIPATI~N AMOUNT
A~~ ~I~~ DUI~~ ADD PA~'AB~I~~ III ~RTAYN I~~I~~T
OCCUR
~ Santa Atra, ~alifot'rria
P~`aperty Add~`e~s;~:~ ~ ~ : ~ ~ ~
lt~ S#ate Grp bode
~0~. ~,~I~UI~~ R~I~~I~I~~I~, the «~~de~'sig~~d the ~~aker~~ ~~~~~nehrre~,~~~ ~ro~~ies to
pay to the ~UNIT~ I~~DI~~ELP~ViET ANA ~F THE ITS SANTA
ANA, pubiie body, corporate a~~d palrt~c the "alder" or "Agetrey"} at ~o ~i~ic err~er` Pia2a,
Sarlta Ala, aiifornia 9~?a , ar at sr~c~~ afher address fire Holder` rrray direct from time to time
in ~~ritit~, tine sut~~ specified in t~xe te~~n~s at~d ~~`o~isians of this P~~otnisots~ Nate as tine "Nate
Al~rount",
1, ~otr Agreement, This Pr'amissory Nate Secured by Deed. of Trtlst ~tiris "Nate"}
rs made and derr~er+e~ p~~~•suarrt to and lrr lrnplernerrttlorr of tt}e omehu~er Loarr Agreement
entered Into by and bet~vee~~ t~~e folder and the N~akea` dated ~ ~ ~ ` 2Q
~"Agreement"~, a copy a~ ~vh~cl~ is o~~ file as a public record ~~ritl~ the ~oldex`~ Tire Areen~e~nt
incorporated herein tins reference, The faker ack~rowled.es tint b~~t for the execution of t~ris
Nate, file ~~olderF ~~~~llid not. enter ir~ta the Areerne~rt or make the loan contemplated tirerein.
Unless defit~itions of te~irt~s i~a~e bee~~ exp~`essi~ set or~t at iengti~ hea'e~n, each tet•n~ si~all ~~ave tl~e
Battle defll~lt~~n as set lI~ fire Ag~`ee~><~et~t,
Term, The term of the Nate shall be forty-fire ~~5} years frarrr the Hamebtryer
Assistance Lawn Date ~"Ter'nr"~.
3~ Nate Al~~oi~~~#, The s~~ms dr~e and payable pu~'suat~t t~ the terms and provisions of
this Nate corrsist of both the ~Ionrebuyer` Assistance Loan Arno~~nt acrd fire otrtltrge~rt ~q~~ity
Participatiarr Amount, as bath terms are irer'einaf~er defirred ~ca~lecti~ely, the "Note Amount"~.
As a~~e conlpanerlt of the Nate Atno~~nt, faker si~ail pad to tine Age~~c~ tine principal a~na~~t~t of
. : ~ : ~ ~ ~ Dollar ~ ~ ~ : ~ ~ ~ _ ` ~tire "I~otnebuer` Loa~r
Arrrau~rt"~, ~~~th zero per`ce~~t ~O~~o} fll~er'es~ tirerea~~, subject to subsectiarr ~a} belo~r.
all#lll~~Il# EC~lllt~' P~1'~~c~pa#ror~ .1~marIll#, a seca~d co~rrponent of
fire Note Arno~~nt, the faker' shat pay to the Agency, together u~itir the morale the ~
Iornebuyer
Assistance Lawn Amount, ~lre ontinerrt Equity par~icipatian Amaun~ as set ~'or~lr lrr Section 7.
E~IB~'~ B-~ ATTAC~NT N~~ l
Pr`omissory Nate
~OCS~C1~~i4~673~~~31~~0~72-~~~ I
~omehuye~~ Assistax~ce I~oatt Amotil~#; Iiiteres~ ~)efe~'re~i U~r#ii ~ceeie~'a#ioza,
The Hornebt~yet' Assistallce Loan Alnautlt shall accrue zer'a percent ~~°Io} inte~'est unless and
~~lltil an e~erlt afacceleration occurs as set forth in ectiotl ~ in wllich e~et~t ~ contingent Equit}r
Par'ticipatiol~ Anount as described lr~ Sectrot~ ? sl~all beco~ne due and payable y the faker.
~orneb~~ye~• ~ssis~az~ee I~o~n ~IY~olltl#; Time of Pay~nel~~ and ~ar'givetiess~
No repayment of t~~e Hoinebuyer Assistance Loan Amaatrlt sl~all be required uiless and until the
Nate Arnaunt becomes due and payable, as pi'o~ided Iii subparagrapl~ ~f} belo~~?, ~n tl~e e~eilt tllat
the Homeb~tyi' Assistance Loan Alnount does not becotne d~~e azld payable prior' to the
forty-file ~~tl~} Atli~i~ersaliy of the date of Phis Promissory Note, the fizll alnount of the
~'ronlissory Nate sl~all be fari~~er~, at~d there sl~all be loo frti'tller obligations llereunder,
G, ~cceiet'a#iori. The whale of the Note Arno~~nt anal all athet' paylllents due
hereunder' ar~d under the Agreen~et~t sl~al~ became drte all[ be immediately payable to tl~e Holder
by file N~aker upon the occurrence of a.t~~r one of file fallowing events of acceleration;
~a} the sale or transfer of the Propet'~y for' try path tllei'eaf} by any meatls,
1t~Cludtt~g, witl~o~it iiil~it~tioi3, the lease, exchange ar other disposition of tl~e Px'aperty of ally
Interest tiler*e~n, whether' ~olut~tary or' iri~ol~it~tary, except a sale of
tl~e PraperFty to a q«alified
aderate ~tlcorlle ~ausehold at an Affordable Housing host witll file Agency's prior' ~~~ritter~
appr'o~.l accor~lpisiled iii strict coilfortnlty wrtll section ~ of tl~e Agreernetlt, oi' the trailsfer
of the Pr'oper'ty solely as a result of the ll~arriage, di~arce, incotnpetenee or death of ailo or 11141'e
iildl~iduals cons#lt~ttln file ~orneb~iyer, so loi~g as the transferees} give wi'itter~ riotiee
supported by reasonable e~ideiice of such e~etit to file Agetlcy wrthiil thirty X30} days of its
occ~~r'r'et~ce and file ti'at~sfer'ee~s} assltlne~s} the ~ornebuyer's obtratror~s Utldel' the Agreeilleiit,
by execution of atl assigll~nellt aid assuinptiarl agreetnetit to be provided by tl~e Agency, ar a
sale or' transfer whieli ~inclei' federal law world ilot, by itself, permit the Agency to exercise a due
Dli Sale ~i' due on etic~imbratice clause;
file faker re~llances any purchase money lien or' el~c~ilnbrailce to wllich
the Ager~ey Deed of 'rust i ulaordiilate beach such lien, a "first Lien") for' a loai~ allloutlt in
excess of the then current loan balance see~it'ed by such lien or encumbrance and laaii elosir7g
casts; andlor .
~c} the faker hand all co-signors acrd co-mor~tgagai's, if any} -fails to owii and
occupy the Praper'~y as their' principal t'esidetlce pursltant to ~ectian 7 of the Agreerrtent ar' is Itl
Ownership Def «lt as defined. in ectioxl 1 ~ of the A~~eernent.
At file ~'equest of the Maker, acrd far a specific occasior~~ the Holdei+ may, its its
sole and absal~ite disct'etion, iii writitlg waive t.lie regitireinents of these s~~bpat'agr;api~s and dofer
repay~ner~t a~ld~ar exterid the ter'rn of this Note At~y wai~~ei' al' defei'nlent shall be an a case by
case basis, ~rld 11D fitture rights far ~vaivei' or deferment shall al'ise ar' be implied,
Not~vitlistandirig the for'egortlg, file alCei' t~lay, itporl prior ~vritteii approval by file Holder',
refitlatlce any Prrst Lien far' a loan an~o~int equal to oi' less thal~ the then current lawn ~b.lnce
secured. by s~rcl~ ~'ii'st Lien,
E~I~~T TO ATTAHENT ND. l l
Promissory Note
~~CSO~l1 ~~07~~ ~ 31~~~~7~-~~D ~
7. nriflr~gerit ~qu~t~r Par~~cipa~lo~a Ar~~alrr~f. I~' an event of acc~ler"a#ion oc~u~i a~
described in Section and tl~e Nla~er is not selling the Proper#~ pursua~~t to section ~ of the
~~+e~ir~e~t, the faker' sl~~ll pay to t~~e Haller, ~~~e ~~hale of the Hornebu~er• As~~tan~ ~,oa~r
A~Y~ount and the "~0r~tir~gerl~ Equi#~ Participatian At~~our~t," as hereir~af~er defined., 7f tl~e
Harrrebuyer is selling the Pr"oper•ty to an eligible Per"sore and ~arrril~ at air 1~~~ozdable Ho~rsit~
host ~~~~th the Agel~cy}s prior ~~r"i#~er~ appr~~~ral, ~n a~ccord~t~ee ~it~r tl~e r~equtren~ent~ a' Sec#~on
~rereundel' acrd ectiorr ~ of t~~e A~reet~enta then no or~tlrlgent Eq~~~ty Participation A~rrou~rt
shall be required her"eunder' In cat~t~ec#lan ~~~th r~c~i sale.
~a} a~cu~atiar~ of Moir#irigeri~ Eglri~y Par~ficipation An~aurr~, Tl~e
"Contlr~gent Egrri~y Participation At~~ounf'~ t~~eans an a~~rount equal to a percet~tage bare of tl~e
appreciatiar~ the P~`opei'#y deterlrrine by rnultiplyi~~g a variable percentage factor the
"variable Applicable Facto~~}'} by the differerrcc het~~ecr~ tl~e Saes Pace and tl~e Purchase Price
has those ~ellns are l~ereir~af~er4 defined}.
fib} ~nriablc Applicabre Fac~or~ alcu~a#iorr. The variable Applicable
Factor shall be calcu~ate~ by dividing the Aget~cy's total ~nit~al equtt~~ con~ributian ~tlre "Agency
al~tr;ibutior~"~ by the sur~~ of t~~e Age~~cy ~o~~trlbutran plus the Hor~~eb~~yer's co~xtr4~but~o~~ ~tlle
"Ho~r~ehuyer4 antribution"}, 7n otl~e~, ~~rords, the Agenc~r antrib~~ti~n shall be the nut~erator,
ar~d the sizt~ of the Ae~~cy antrib~~tion pl~~~ t~~e Horr~ebr~yer otrtr;ibutiarl shall be the
del~olnrn.tor ~f a ~~+ac#ion that equals a percentage that ~ t~~c Variable Applicable Factor ~s~~bject
t~ SeC~IDII ~~~~~~1~~,
~~~ii~~~e Ap~~iicauI~ Factor = A~c,~',,,,,C~ntri~u~la~~
Aen~y Coi1~~~il~utiol1 Ha~rte~iu~re~i a~~t~~ibutiott
Fo~~ earnple, if tl~e Agel~cy or~trib€~tio~~ eq~~als $0,000 at~d tl~e Har~lebuyer
antribution equals X0,000, the ~at•iable Applicable Factor ~o~rld eq~~al 10.7°I~ x$30,000
divided by the sum af0,000 pl~~s ~~0,000}.
1U.7°l0 ~4~a~siable A~~~~ficabl~ Fac~or•} _ _ ~U,~oO (A~e~~c~ ~o~~~ribu#ioi~} ,
~3~,UDO ~Age~~~y ~ontr~b~~#iol~~ ~~50,~oU ~Hamelu~ry~r
~U~ltl`l~lll~10~~~ = {~$oyo~~~
i
~i} Tl~e "Agency or~tribution" ~ tl~e sun of the folla~~ing amounts
caritr"ibu#ed bar #l~e Agency to tale iOrrr•cl~ase price o~ t~~e Proper# f ~ii~~ci al amount of the
~ p ~
~Io~neblryer Assistance Laarl, i,e,, the Affordable Hor~sitlg host Subsidy has hereinafter de~ned~;
and ~ii~ the principal at~or~nt~s} of an~~ other loat~~s} or subsidy~ies~ pro~lded by the Agency.
~tl~ The "Han~ebuyer ontrrbutrar~" is the sure of the folio~vi~~
amounts contributed by the Homebuyer to the purchase price of the Property: ~i~ the principal
ama~~rit of tl~e First Lie~~ loan; ~i i~ tl~e Hall~ebuyer''s cash do~~rr~ pay~~~ent plus tl~e Hot~ebuyer's
poltian of closit~ casts; a~~d ~iii~ tl~e original principal ar~outrt off' loat~s~s~ or other subsicly~ies}
ELI-III' ~-3 A~`pT~HNI~NT N0,
Promissory 1~ote
~~C~aCll~~~b?3~'~~f2~~272-~4~1 ~
secu~`ed by the Harrrebrryer, ~exciudir~g ar~d other than Iaar~~s~ aa• subsidy~ies} provided by the
Agency has set foa~l~ in tl~e defi~Yition of the Aerley Contributlon~~ a~~d applied by the
Hat~el~uyer ta~vards the purchase of the Prape~`ty~
~i~i~ The "Pr~rchase Price" is the original purc~~ase price paid by the
Ha~nebuyer` far the orne~~~yer• as the qualified srrccessor a~vr~er of the Prapert~~ to the seller` of
tl~e Property {tl~e `Seller{"~ generally this anlarlr7t shall be equal to the or~gi~~al fair zr~a~`I~et ~ralue
of tl7e Property at tl~e tirr~e of tl~e initiallorigi~~al sale of the Property the De~relaper to tl~e
Ho~~~ebuyer} for the elier's Irlterest irl the Property, exclusive of escro~ fees, title insurance
casts, b~'ok.r's con~~nisions, loan fees ar any other closing or tr'ansactior~ casts S~~b~ect to tl~e
pra~isiar~s set forth hereir~bela~~~, the value of ual~~ed Capital fr~proverrrents shall be added to
tl~e Purchase P~'~ce ~~het~ calculating the Contingent Equrty Participation An~a~~~~t
Div} Tl~e "ales Price" is tl~e price to be paid. by the prospective bu~rer`
~~~la is not ~ c~ualrfied Moderate ~nco~~e Ho~nebrryer~ of the Property ~tlle "buyer{"~ to the
~ot~eblryer for the Harnebuyer as tl~e qualified successari o~rz~er of the Prop~rty~ for the
Hoa~aebuye~•'s interest i~~ the Property, exclusive of reasonable escrav~ fees, t~t~e ~t~surance costs,
brol~er`'s carntl~issior~s, Ioa~~ fees or any other closl~ig o~' transaction costs, Tire dales Price shall
be established ire confarrnity ritl~ Sect~an 7~~}~i~, ~n tl~e evert of the Harrrehuyer''s re~rrancirrg,
fa~il~u~~e to occupy, or~ are Cv~rlership Default, the "ales Price" shaI be established its co~~fort~~ity
~v~t~x Section ~{~)~ii}.
T~~e {`Affo~+dable Housi~~g Cast subsidy" is tl~e atnau~~t decr~red to
be a subsrdy from the Agency provided to tl~ Hat~rebuyer by rt~akin the Property a~~ailablc for'
p~~aichase at a price that canstit~~tes an Affordable Housing Cost faz~ Hon~ehrryea4 as a Moderate
~~~co~r~e Har~sehold, Tl~e Affordable Hausirg Cost Subsidy eq~~als the diffez'e~~ce bet~veen the
appraised fair` rrrarket ~al«e o the Property as of the date of the Areen~er~t and the Affordable
Ha~rsing Cast
~c~ ~~rception Calcula~~oir, otitl~star~di~~g t~~e above tl~ Variable
Applicable Paetar shall equal the r~ eater affift~ percent ESQ°I~~ or• tl~e ariabe ~p~eahle Factor
calculated pursuant to ectiaxa 7~b~; provided l~a~~~ever, in tl~e evert f aker r'ecei~es a First ~iet~
laa~~ fr'ar~r the California Pir~a~rce Agency or a Fig+t ~?ien Ioan the source of proceeds of urhicl~ are
f~'a~n tax exerr~pt bonds, then the Variable Applicable Factor shall equal tl~e Variable Applicable
Pactor• peg+c~~tage calculated prrrs€lant to Section ~~h~,
~d~ i~si~xg ~~xe V~r~ia~le ~,pp~icable ~"ae~or #a ~e#errlYille #~ie otl#irrgc~r#
~i~tll P~t'f1~1~1~f10I1 ~II~Ol1I1#, Cor~t~r~gerlt ~C~~~rty Par~t~clpatl~tl AI~lOI~~~t 1S calculated by
n~r~ltiplyin the Variable Applicable Factor by the difference between tie Sales P~•ice and the
P~~rchasc Price, For e~ar~ple, if the Variable Applicable Factor equals ~ 0,"~°~o, the Cor~t1l~ger~t
f~q~rity Par'ticipatian Ar~a~~r~t ~~o~~ld then eclr~al l~f~°Io Variable Applicable Factar~ x Sales
Price n~inr~s the Purchase Price}.
~rl the aba~re example, if the Sales Price eta acc~rr lxpon resale not conforrrring to
Section ~ of the Agreements equals 380,0~~ ar~d tl~e P~~rchase Price egrral 280,00, the
Contingent ~gr~~ty Par*trcrpatron Arnaurt ~vauld eq~~al 0,700 ~10~7°~0 ~ x$350,000 rnit~r~s
X80,000}},
~~H~B~T B~~ TC ATTACH~V[ENT N~. I ~
Pl'ornlssory date
DOCS0~1~ ~OO~i73u 131~~~~~~-D00 ~
10~'~°Io ar~~il~le Appl~~~ble factor} x 10~,OOI~ ~~Ies Prise P~1rcl~~se Pl~~ce} ~ II~,7UD [Ulitili~~li~
~(~11I~~' P~r~1C1~3~~101i Alii0i11if~f
alelilafiol~ of orltingerit ~q~iity Participations Amount for
tzbeq~r~rlt ~omc~s~~crs~ ~f purs~~ant to ectian 4 of tl~e Agrcerrrer~t and ectian 9 of this date,
Buyc~~ leas firlly assumed the Hon~ebuyes''s ol~ligatiarss under the Areerrsetnt, this Date, tl~e
Agency Deed of Trust Notice of Affardabnlrty Restrictions and tt~e Affordable Ha~~sirsg Resale
Restr'ictian, arsd tlserefter tlse ne~~ 8~~~~er;, a tie s~~cces~oa~ ~on~ebu~e~~, i ix~ ~~r~~ez~l~ip Defa~~I#
~~hicl~ causes an e~e~~t of acceleriatian to occur, Ilse arstrrigen# Eq~rrty Pal'trerpatsars Amount to
be paid by sucla B~~ye~~ shall be calcs~lated by multiplying the Variable Applicable Factor,
establrsl~ed rr~ ectlar~ 7~b~~ by the difference bet~~ee~~ tl~e aces Price, established in canfarr~sity
~~ith eetian 7~I, and the Purchase Price.
~ No ApprcciatiUls on' ~]epreciatlOns in 'Yul~re of Pn•operty, ~f an e~erlt of
acceleratiars oce~~rs t a ti~r~e ~~ixe~~ tine ~'roperty leas ~~ot appreciated or tl~e ~allre of the Propen~ty
has depreciated the Sales I'r~ce is iess ti~an tine Purchase Pr~ice~, then tea ontii~gent Equity
Participation Amount is due by Maker to Holder',
fig} ~lialified capital IIIIpI~oV~ISS~ntS. The ~al~~e of and qualified apitai
I~s~pro~ensents co~~spleted by faker dut~in Maker's o~~ncrsl~ip of tl~e Prol~er~ si~li be added to
the Pr~rchae Price ~Ilers calculating tl~e ant~r~ent Egrrrty Participation An~ar~rrt only if, rsat
later than thirty ~~a~ days prior to tlse e~terst of acceleratrars causii~g file antii~geist Eq~~rty
Participation ~4n~ount ~o become immediately due and payable purs~~ant to Sections the Maker
subrrsits tl~e fallaing to tine ~Ialdea~~ a~~ itemized list of tl~e uali~ed capital Il~pro~eients,
iii} reliable proof of carr~pletion of the qualified capital Itr~pro~etrients has e~idcnccd, e.g., by
final btrildit~ penr~sits, a certificate of carnpletrar~ ar orriisal pall irs~arces ar~ car~str~tctiot~
ca~~tracts~, and viii) an appraisal fi'ain a certified appraiser', nnI f0i'tn arsd substance reasos~ably
acceptable to the ~xec~~ti~e Dig+ector, the co~~clusion of ~~hich is that the qualified capital
rmpra~einerits lsa~re added the stated an~iou~lt to the fair tr~a~~ket ~altie of tl~e Property.
~f, ~~ithi~~ thirty (30~ days of receipt of tl~c iisfor'rnatian carscerr~irs the calif
led
capital ~mpro~en~ents, tl~e Holder questions tine claimed increase in the value of tl~e Pr'opert~ by
reason of sold. ~ialified capital Iinpra~ernents, the Holder a~sd the Maker i~,~y, by il~litual
agreeis~enf, estal~lisls the vl~ze of tlse ~~alified capita ~mp~•ove~~er~ts ar file ~Iaider may require
an appraisal of the Prioper•ty, at file N~akei''s experlsc, by a second rrldeperldent cer;tif led appraiser
appoii~ted ~y the Haller to deterrriitre the fair' irsarket value of the ~ualif~ed capital
rn~praveineilts~
~h} rct~i~ to maker, Natithstanding fire foregoing pro~nsians of this
Section 7, caic~~lation of tl~e ot~tinge~~t Equity Par~icipatian Aina~snt is subject to a superrar
righ# of the Maker' to s'ecei~e credit in calc«latiais of t~se Pur~cl~ase Price for money paid by the
faker Lost acquisition and during fire ter'is~ of file Maker's a~vt7er•Ilsip of tl~c Property for
installment pay~ne~~ts of n~o~~tgage principal, pursuant to the First Lien actually bade by the
l~t~IBIT B~ T~ ~.TTA~HENTN~~ l l
Pi'amissary Note
~ ~C I~CI1 ~0~6?~~f ~ 3i~~~27~-~00 ~
l
al~er, itt addition to the faitF marl~et value of uali~ed appal Irnpto~ements consistent v~ith
the ~•equiretttents of ectian 7{g~ hereof,
~I~ De#e~~~nilrafiorz of Sales Price; A~~prnisal,
~i} Upoxt Sale of flee Property, the evextt of a prioposed sale of the
Property by the ~~omeb~~yer that does trot cottfor~n to Sectior~ 9 and riot less tl~an thit~ty ~o~ days
aer• tl~e Holder ~'eee~ves actual nattce of tl~e opertrr~ of escrow in cott~tection therewith, the
l folder may elect to appoint a certified, independent appraiser' to co~td~~ct apt appraisal of rite
Property, at rite faker}s exper}se, to assist the Holder in deterrttrrtrrtg rf the dales Price is at or
near rite fait' ~tta~•l~et ~alrre of the Pr+aperty at s~~cl~ tir~te~ ~ tit Sales Priice is deterrnir~ed by rile
appraisal to toe three percent ~3°~~} on ~nor• below the fair market ~al~re of tote Property as
eti~t~ated in said appraisal, then tl~e `Sales Price" for' ~turl~ases ~f aleterrnrrlrn tl~e ontingettt
~q~~ity Participatio~t Antot~nt shall be rile fair' market ~ralue of rite Property established ire said
appraisal,
~ii~ Upotr Refillc~I1C11~g~Falllrr'e to OccupylDefulf, lr~ rite e~ettt of
refinanci~tg~ faill~r to ocer~py the Property in accor•dattce ~~itlt Section 7 a'tl~e Agreerner~t, or• art
D~~nership Default or~ breach of any pro~isiar~ of the Agreernertt iticit ca~rses the contingent
Equity Partrcrpatrort Arno~~nt to becottte ~~nrttediately due artd payable, rite "Sales Price}' for
purposes of determirtirt the ~oritirtger~t q~~ity Pa~t~ticipation Arttorrnt shall be detertnirred by an
apps+aisal of the Property. The I-~older shall appoint a cet°tified independent appraiser' to corrd~~ct
ate appraisal of the P~•ope~'ty~ at rite ~Vfaker'~s expense, The al~er agrees that i~t such e~ertt the
oritrriger~t l~quity Participatio~t Atnol~~tt shall be the Variable Applicable Factor multiplied by
the difference between rite Purchase Price attd `~Sies Priee" as established by tl~e appraised ~ai~~e
of the Property at the time of s~~ch refinancing, faill~re to occupy, or• defa~~lt t~tYder ~l~e
Agree~ne~tt. ,
al~er•'s Acl~~lowledgxttexa# of o~i~i~rge~rt Equity Particilta#iaxz Axttourl#.
AI~ER A.NOwLEDOES AND AGREES THAT UPON
SALE, TRANSFER OR REFINANI~IN OF THE
PROPERT'~ THAT DOES NOT CO~VIPL~ WITH SE~TYON
9, ANDIOR UPON ANA' OTHER DEFAULT THAT CAUSES
AN EVENT OF AOELERATION AS SET FORTH IN
SECTION G HEREOF, ~VIAI~ER SHALL PAS TO HOLDER
SIN ADDITION TO THE AEN~' LOAN AMOUNT}, A
ONTINOENT EQUIT'~ PARTICIPATION AMOUNT
EUA.~? TO A PER~ENTAE SHARE OF THE
APPREOYATYON OF THE PROPERTY AS ADULATED
PURSUANT TO SECTION 7,
NIAERII~ONIEBUVER'S INITIALS;
9. Sale #o ~Io~lex•a#e Iracom~ Ilousehol~ a# Afforc~ahYe ~Iarasi~t host, luring the .
Affordability Period, the Note will not become d~~e and payable and rro ontitterrt Eq~~ity
Participation Antaunt shall be required lrereu~rder in cortr~ect~ott with such sale, rf the maker sells
~~l~Il~lT B~ TO ATTA~ENT NO~ l 1
Prontissot~y date
~a~~~~~1 1
or' other'~vise conveys the Prapetty to Bliible Persons acid Famrlres, and the purchaser assurrres
this Note acrd the Agreerrrent by are assignment and assut~ption agr•eet~et~t which is r`easanably
acceptable to the Halder~
9,1 Affar~a~~e Hausi~~g os# - i1~nrle~•~te ~~~eo~ne Hurrse~~o~d, Tire mal~er4
has ~ualifed ~ at~d eael~ eligible a~ad gr~alified successor-in-interest to tl~e Maker' shall be a
person ar family of Moderate Incoi~le, Tl~e term "Affor"dable Housi~~g ast'~ a used l~e~~ein and
far each Moderate It~came Hamebuyer ~at~d alI sr~ecessar`s tl~er`eta d~u,i~~ tine Affordability
Period} shall be as defined ire Health Safety bode Sectior15~0~2,~ far its successor statute
and the itrrplerrrentrng r'egulafions thereto promulgated by the Hor~si~~ at~d Cam~rrunity
Develop~r~ent I]eparttrrent of the State of alifornia~ prodded, l~o~vever, that the term Affordable
Ho~~sir7 Cost shall include Monthly Housing host as defined in Sectiol~ h9~~ of Title ~5 of tl~e
Regulations.
Not~vithstandi~lg tide px'a~iiax~s a this Section 9r ~ ~ if the Property i~ sold d~~rrrig
the Affor`dabili#~ Per'iod by tl~e maker to a Moderate Income Household, ar~d the Sales Price does
not exceed ate "Affordable I-Iausing host" to such Buyer, then so long as the Maker is not in
default neither ~~~nersl~ip ~]efal~lt and~oz~ mait~te~~ance Dfa~rlt} aftl~e Agr'eemet~t, this Note ray
be asr~med by tl~e eligible Brryea~ by ate assig~~t~e~~t and ass~~rnptiar~ agreeruent 4~hrch rs
r`easanably acceptable to the Holder, Upotr the effective date of such assigr~~rrent and
assutnptiot~, the assigning Maker' shall na lodger be liable far any further obligations l~t~der the
Agreei~]I~t Or' tllrs Note that aCCrr~e after` tl~e date of txCh assrgnn~ent and ass~~mptlor~, In order` to
verify the Buyer's status as a moderate Inca~~e Hausel~old, tl~e faker shall subrrrit to the Holder`
tl~e ldentrty of tl~e proposed Buyer old .dequ.te rnfar'n~atran evrdel~crng the lncarne and
l~o~~sehald sire of tl~e proposed Buyer, Sard rrrcome rnfarmatiot~ shall be subr~rrtted together ~vith
the notice of proposed sale pursuant to Seetia~~ ~ of the Areen~e~~t xaot less than thir`#y ~0} days
prior to opening of escrow for the proposed sale and sl~ail inciude orrgrnal vr' tr'~~e copies of pay
stubs, income tai records or other f
~nancral documents rn order that the Haider may verify the
laousel~old income of the proposed B~ryer to determine whether` the Buyer is a Moderate It~carne
Hauselrold, and whether rile Property is being trat~sferr`ed to s~zcl~ B~ryer~ at an Affordable
Housing host. If the Holder is unable to verify the Buyer's inca~~ne as prodded lrer'eirr prior to
tine pr`apased sale the~~ the Buyer's it~carzle shall be deemed to exceed rite rr~axirt~urri alla~vable
itrcome limit for Bligible Persons and Families,
~0, eeu~~ity fo~~ ~o~e, This Nate shall be sec~u`ed by a subordinate deed of tr~~st acrd
rider tl~e~'eta of e~ren date ller'e~vitl~ encumber`in.g the Pr'oper•ty ~tl7e "Agency ]deed of Trust"~,
e~ec~~ted by the maker', as tr'ustor', rn favor of the Holders, as beneficiary.
11, Prepay~nelit of Nute, The Maker trray prepay this Note to the Holder, provided
that a~~y prepayrrrent must be in fall and trot in pa~~, Pr`epayrnent shall be treated in the same
~nar~r~er` as refir~atrcrrlg of the Propet'ty, In any event, the Affordable Hauling Resale Restrictions
shall cantirl~~e in f'irll farce ar~d effect, notwithstanding such prepayn~ent~
12, ~3oYt~er IViay Assrrr, The Holder ray, at its option, assign its right to receive
pa~yr~errt utrder this Note rtha~rt necessrt}' of
abtalnrng the consent of the Nlal~er~~
B~HIBIT B„~ T A.TTAH.BNT 11
Protnissory Note
Da~Sa~~1~0~~'3~~1312~~272-~~~1
13, ~e~+ Assiglimel~f Pro~ai~i~et~. In no e~e~~# shall the al~er assign or transfer
any portion of #his Note, the bate A~notznt at~dlor the A~;e~~r~en# ~vi~hat~t #t~e prior e~p~~~s
written canser~t of the Holder as p~iovided in sec#io~~ 9,
~airit and Sever*~l, Tl~e ur~dersigned, if t~rore than one, shall be jointly and
se~era~ ly 1 fable hereunder',
~5~ At~o~~rteys~ fees arid. dos#s, Its the event that any action i il~stituted #o etrforce
paytrrer~t under this No#e, the parties agree the r~ot~-~~~evaili~~ party sl~al be respol~sible for acrd
shall pa~~ to the prevailing party all court costs a~ld all attor~~eys' fees ir~curred in enforcing this
Notes
1. A~nez~t~~r~errts, Tlris No#e trray no# be ~nodifi~d ar arnerrded except by an
i~~strument in ~vri#i~xg expriessi~ig suci7 intention exect~te~l ~ the parities saugl~# #o be hound
#here~y~ which writing r~~t~st be so firmly attached #o #his Note so as #o becotrie a perrnanerl# part
#l~ereof,
~7, al~e~~'s waivers, Tl1e ~al~er waives any nigh#~ to require the folder toy
~a~ det~ar~d paynren# of a~~lou~~ts due ~kno~vn as "l~rese~~tn~ent"~, fib} give ~~atice that arrraur~#~ due
lave trot bee~~ paid ~k~~owtr as "x~atice of disharror•"}, at~d fie} obtair~ ate affic~al certificatior~ of
~la~rpayrr~ent known as "protest"},
~S, No#~ec. At~~ notice tha# ~~nt~s# be given to #lre al~er ur~der this No#e shall be
given by personal deli~et~y oti by mailing it ~ certified mail addressed to the Maher a# the
property address above or stlch o#l~e~• addriess, as Mal~er• shall direct from #irr~e #o time in wri#ing,
~ailt~re or delay its giving any too#ice required heret~t~der shall not cor~sti#ute a waiver of any
default or late paymel~t, nor shall it change tl~e time for any defa~rlt ar payrne~~ta At~y ~~otice #a
tl~e Holder shall be gi~re~a by certified mail at tlae address stated above,
~9. uccesso~.s Bolrx~~~, This Na#e shall be binding t~por~ #l~ panties hereto acrd their
respecti~re heirs, r~ccessars acrd assigns,
~~'fect off' ~`or•eelos~r~~e, ~f title to the proper~#y is tr}ansferred by foreclosr~re or
acceptance of a deed its Iiet~ of fo~~eciost~re, ar ass~ntne~~t of the ~'rrst f,ien to the ecr~etar4y of #lae
Department of Housing ar~d ~rbat~ Developrnerr#, the A.greernent, the Affordable Housing Resale
Restriction c~ecttted pursuant #a the green~ent, Notice of A~ffordabtiit}t Res#riction a~~d the
Agency Deed of #rust shall be autarna#ica~ly #ermir~ated and shall Dave na further effect as to the
~'t~ope~~ty or any transferee thereaer.
Clg~latt~re bloc~C begins o~i follow page,
~~IBtT ~~S TD ATTA~H~~NT ND, 1 ~
~'rornissory Nate
~~CSOCII ~00~~3~~1 ~12~D272-0~0]
l
I~ ITS IVial~el~ eec~~teo~ this Note as o~tl~e ~a~e set fo~~t~~ below.
IVIA~~ a~~d ~EU'~~;
P~~~t~ted Na~ne~
Pr~~n~e~ N~r~1e
E~III~I~' T '~~ENT N~, 11
P~'ot~~sol'~r N~~e
D~C~~I1 ~O~b73 ~t 1 ~f~ 0272-D~~ 1
l
H~~IT
DEAD TROT KITH AIN~NT ~F RENTS
RE~RD~N R~H~ST~D BY, }
AND ~N RE~I~D~D IA~L T~; }
~arnrnuait~ l~edeveloprnent Agency ~
of the pity of Santa Ana }
20 i~ic et~ter Plaza ~
Santa Ana, alrfarnra~ 927x2 )
Attn. xec~rtiye Director ~
Thr5 docl~rner~t is eKelnpt frotrr pa~me~~t of a
recording fee ptrrsuarrt to overt~rner~t Code
ectio~~s a~~d 1 a3.
DE~~ ~I~~ TRUST NTH ASS~~NENT 4~ RANT
~~DRT F~~~}
This DEI~1D TRUST is ~r~ade as of 2a bet~veer~
hcreit~ called TRUSTOR, lose add~`es is i ,
T~T~I+~ llereln called T~.IT~~, end tl~e ~~~N~T~
REDE~EL~P~~VT A~N~ THE ~T~ 0~ SANTA ANA, a public bady, corporate
ar~d p~1rt1C, herein called ~EN~~~~AR~~
ITN~S~TH: That Trustor grunts to Trustee ire trust, ~~it~~ o~ver~ of sale that praper•ty
ire the its of Santa At~a, aunty of ~rar~ge, State of kalif
orrria, de~~r4i~ed a~~
SEA E~H~BIT "A" ATTACHED ~~RET~ ANA ADI~1 A BART H~R~~~`.
taether ~vith the rents, iss~~es at~d ~r;oft t~~exea~`, ~~bject, l~o~v~~er, to fhe right, pa~~er• and
ar~thorit~ hereinafter given to and conferred upon Be~~afic~a~•~ to callect and apply such rents,
rss~ies and profits faz` the rr~•pose of securing ~1~ that Protnissor~ Note dated ~ ~ ~ ~ ~
2~ : made b~ Trtzstor in fava~• of Be~~e~ciary, and e~tensior~s or rer~e~vals tl~ereaf, its the
principal sutra of H,S, ~ ~ ~v~ti~ inte~~est tl~erea~~ ~rncl~rdrn ~vrthaut lrmrtatlar7,
1I~t~1'est lIi the farm of Sl]ar'ed appreclatlor~ ~ deflr~ed 1~1 t~~e Pa•o~r~lssar~ Note ~ tl~e "ontlr~gent
~~uit~ Partrcrpatlor~ A~naur~t"~, ~~itl~ the balat~ce of the rndebtedt~ess, duc a~~d payable an
accr~rrence of arr e~erit of accelerat~o~~ as defined its the Prarnissar~ Nate, tl~e perfarrnance of
each ag~'een~et~t of Trr~stor ir~corparated b~ reference or corrta~ned herein, at~d pa~~nent of
addrtlonal s~~rns rid ~nte~`est thereon htch mad hereafter be loaned to T~{usto~i, o~i leis successors
or assigns, ~vhen evrclenced b~ a promissory Hate on notes reciting that they are secured b~ this
Deed ofTrrrst.
Ta protect tl~e sec~zrity of this Deed of Trust, and ~vith respect to the property above
described, Trustor e~pressl~r n~l{es eac~~ and all of the agree~~ents, and adapts acrd agrees to
perform and be bound ley each and all of the terms a~~d pro~isiot~s set fo~~l~ ~n sr~bdivision A, a~~d
it is rnutuall~ ag~•eed teat each and all of the terms and provisions set far`th ~n ~~bd~visian ~ of
E~~.IBrT ~l T~ ATTACHMENT N0. I ~
Deed of Trust ~~~itl~ Assigntnet~t of bents
Da~O CIS ~~067~~f l ~i240~7~-~~01
l
the fictitious deed of trust recorded in Orange out~t~ August ~ 194, and its ali other counties
Aug€ist ~ S, ~ 9~~, in tie boob at~d at t~~e page of ~f~cial records in t~~e o~~ce of tine cout~t~
leCOrder of the cout~t~ ~~here said ~t•opcr•t}~ is located, toted help opposrte fhe r~ame of s~~cil
co~~nt~, na~ne~;
COUIITY BDOK 1~A~11 CQi~~IT1' I3ool`. Pt~GI~ C~Ui1'T~' Boole PAGE ~Qi~11~'Y I30~~ ~A('i~
~~&kne[1a 556 K1n~a 713 P1aCe~ 379 Sierra
r~l~ik~~ 3 I30-31 Labe 437 I10 Flr~mas 166 1347 Siski}~otk 54b 7b2
A~~}adar 133 43S Lasseu 192 367 I~i~•erside 3778 317 Solano 1287 621
Butte 1330 513 l.os r~ng~les T3S75 834 Sacratn~ktto 5039 124 Sonoma X067 427
Caia~•~~s I35 338 Aladera 911 13G Ban 13~nita 340 405 Stai~isla~~ 1974 5b
Colusa 323 39I ~lfariu 1849 122 S. ~emardi~~a b2I3 7b8 Sutter G55 585
Conga Costa 4bS4 1 ~lar~~osa 90 453 S. Francisco A-8D4 596 Teltama 457 183
1)el I1xa~ta 101 5~9 Ilfendocina bbl 99 S. ~o~tquin 2355 2S3 Trilkity It78 595
~I Daradn 70.1 b35 l~teree~ 1650 753 S. ~.lkk5 obr5pn 131I 137 T~~jare 2530 148
Fresno 5052 623 Iliadac 191 93 San ~liaceo 4775 175 T?~alu~~u~e 177 lt}Q
Glen~~ 469 76 lfono G9 302 Santa Barbara X065 881 ~~entura 2bQ7 237
Humboldt 801 33 Alanter~y 357 239 San#2~ C1ar~ b626 6G4 ~'a1a 769 16
I~~3perial 1189 7~1 ~rapa 704 742 Santa Crrk~ 1638 b47 !'tkba 398 G93
1n}•o 1b5 G72 Ilerada 363 94 Shasta 840 633
l:er~t 3756 b90 orange 7182 18 San Diego 1964 l~1977~
series 5
shall inrr~re to a~ad hind tie parties ~~ereto, ~~ith ~•espect to tale pr•ope~~t~ above described. laid
agreements, terms acid pro~isior~s contained in said subdivisions A and , ~ider~ticai in aii
counties, and printed on p.ges and ~ i~ereof~ ate by tl~e within reference thereto, ir~coror~ated
~~ez~ein a~ad ~~~ade ~ part ~ this Deed of Trust for ali purposes as f~zil~ ~ set forth at let~g~h l~ereir~,
and Be~~efieiaai~ n~a~ charge far a statement regardrng tl~e al~l~gat~o~~ sec~r~•ed hereby, provided
tine charge therefor does teat exceed tine n~ain~~~tr~ alla~ved by la~~,
The undersigned. Tr~lstor, re>.test that ~ copy of at~y notice of defa~~lt and any t~otic~ of
sale ~~e~•e~~x~der be trrailed to i~im at his address hereir~before set for~i~,
Tr~~stor•
~~H~BZT TO A~TTACH~IENT X0,1 ~
Deed of Trust itl~ Assi~~rnent of ~et~ts
~DC~Cl1 ~O~G734fI ~IZ0oz7z-ao~~
. l
E~HIB~T "A}' T~ D~~D TRUST
LE SAL D~ RIPTI~N
Ito e i~~~et~te~
~~HIBIT i T~ ~~'T~HENT N~ ~ 1 ~
To I~~~d o~ ~`~~~~st it~~ ~s~r~r~el~t of Rents
~eg~l De~et~iption
~~~~~~1 ~~~~~~4'1
~ l
~~YBIT T~ DAD TRT1T
D~ NAT C~~D
The falla~~rlrrg is a copy of ubdrvrsrorrs A acrd B of the ~ctrtla~~s Deed of Tr~~~st r'ecor+ded
irr each co~zr~ty in alifornta as stated in the fat"egoing Deed of Trr~st and i~rcarporated by
r"efercrrcc irr said deed of T~~~~t as being a part thereofas if yet fot~lr at le~rtl~ tl~eaiei~~~
A, To protect the security of tlris Deed of Tr~rst, Trr~stor agrees;
~1~ Ta keep sand property rn good corrditrorr arrd repait4; not to r'r~o~e ar~
demalish azry buildi~rg tlrereorr, to complete or restore pronxptly arrd irr good and ~~arkrrranlike
rnatrtrer" airy u~idix~g which may be eorrstr'ucted, da~naged ol• dest~~oyed tl~er'eon and to pay ~~hen
due all claims for labor per'for~~ned a~~d materials fr~rrrrslred tlrerefor, to carnply ~~itlr all la~~s
affecting said property or' r"euiritlg any altex"atians on impravernents to be rnade tlrerearr; trot to
catnrrrit or" permit waste thereof; not to cornrnit, suffer or' per~r~it a~~y act r~pon said property in
~Fialatiorr of la~v; to c~r~ti~ate irrigate, fertilize f~rtnigate, pr~~ne arrd a ali ot~~er acts ~~hich frorrl
the cl7arac~er or rrse of
paid pr'aperfy rna~r be t•easot~ahly ncccssar~y, the specific errutneratiot~s
herein teat excluding the general,
~2} To provide, mairrtairr arrd deliver to beneficiary fir+e ins~~ranc satisfactory
to and ~~itlr loss payable to beneficiary, The ~rrrount collected undeti any fine o~~ other insr~ra~~ce
policy may be applied ~y beneficiary t~pox~ a~~y indehtedr~ess secured lrereby and in suclr ar'cer as
beneficiary Wray deter'rnirre, or" at aptiotr of be~reficiary, the errtir~ amount sa collected or' any
pant tlrereaf rrray be released to Tr'rrstar', uclr applrcatlarr ar release sirall not care ar ~~ai~e any
defa~zlt ar notice of defa~zlt hereunder' or' rn~alydate any act dame p~u's~~ar~t to such ~aotice~
To appear i~~ and defend any action or" proeeedirrg ptrt"por~ti~rg to affect tl~e
secr~rity l~ereaf ar the r"iglrts or pa~~er"s of Bex~e~cia~~y or Trustee; and to pay all casts arrd
xpet~ses, rncluding cast of e~rdence of
~ltle and attor•~~c~'s attarne~~~' fees irl a r"casarlahle s~1rI1,
irr arry suclr actiatr ar pr"oceedi~~g in ~vhicl~ Beneficiary ar' Tr~rstee may appear4, and in any suit
br'o~rght by Berre~ciar'y to foa~eclase this Deed.
~4} to pay; at least tern days befa~'e delin~rrency all taxes and assessments
affecti~rg said properly, irrcl~xdirrg assessments orr app~~rte~~at~t water stack; ~~hen due, all
errcurnbr'arrces, clrarges a~~d liens, ~~itll interest, an sold property or airy pant tlre~'eof~ ~~l~ich
appear ~a be prior or" s~€perior he~'eto; all casts, fees arrd expenses of tlrrs tr~rst.
lrar~ld Trr~stor fail to make arry payrnerrt or' to do any act as herein l~ro~ided, tlren
benef
~ctary ar' Trustee, hr~t ~~1tl~out ahlrgatlorr so to do and ~~ltlra~zt nonce to or~ de~r~and upon
Trustar arrd ~rthout releasing Trutor from arry obligation tiler;eof, rnay; make or do the carne in
srrclr zna~~net• and to such extent as either may deem necessary to pr+otect the security hereof,
benefrciar'y or' Trustee being a~~tlaorized to enter upon said property far' ~rclr purpases; appear in
and defend any action ar' proceeding pr~~'par~ti~~ to affect tl~e security hereof or' the r;iglrts ati
po~~ers of Beneficiary or Tr'us~ee~ pay, purchase, contest or con~pro~rrise any errcrimbrarrce,
charge or' lien ~~hiclr in the judgment of either appears to be prior or strperiior' hereto; and, Vii]
EXHIBIT I T~ ~TTAI~T 11
To Deed of Trust rtlr Assignment of Rents
Norr~I~ecordable Attachment
DOCSDCII ~~~~73v~ 3I~0~272~~~~ ~
l
s
exercising any such pa~~ters, pay i~ecessar'y expenses, elrrploy counsel and pad his reasonable
fees
~5} To Pad iil~lnediateiy and ~~itllo~it dellland all sui~ls sa expended b~
~erreficiat'y ar Trustee, ~~~th lriterest fi'on7 date of e~penditur'e at tale ail~laur~t allowed la~~v irr
effect at tl~e date hereof, gild to pa~T for any statement pi~o~icled for by la~~ in effect at the date
hereof regarding file ohligatian secu~'ed hereby any amount derrlailded by the beneficiary nat to
exceed t~~e ma~lmuln allo~~ed b~ la~~ at the tlme Allen said statelnellt drrra.nded~
It 1 illutlrall~~ agl'eed~
~1~ That arl~ a~~ard of danlaes 11~ connecti~ll ~tll al~y eandern~latian far
p~iblic use of
or injury to said pr~opert~ o~~ and pay;t ther~eaf i i~e~~el~~ asigl~ed at~d ball ~e paid to
Be~l~ciary ~l~o lr~ay apply ar' release such monies i'ecei~ed by hin~ in the sarrre i'naniler and ~~~ith
tl~e sarrre effect as abase p~'o~ided far disposition afproceeds affire ari atller ir~srrr'arlce.
Tlrat ~ accepting pay~l~eilt of and suil~ secured hereby offer its due date,
~el~eficiar~ does riot ~~ai~~e his right either to re~liire prort~pt paylrrent when d~~e ofall atl~er' strlrls
sa secured of decla~'e default for failure so to pad.
That at airy tlrrre o~• fi'ol~l time to time, ~vitl~ot~t iiability ther'efor' wild
~~itharrt notice, upon ~~~rittelr request of ~er~e~ciary arrd presentatiail of this Deed and said note
for endorsen~etit, ~rld ~~ithaut affecting the personal liability of any person for pay~r~ent of tl~e
irrdebtediless sec~~red iel~eb~, Trustee ~»a~f recolr~ey any part of said prapert~; consent to the
irlaking of any lrrap ar plat thereof; join in granting any easement tl~e~+eotl; ar' jaln in and
extenslan agreement or al~y areeirrent s~~bol'diilating the lien or cllar'e llereof~
That upon ~uritterr r'et~~~est of Belief
i~iai~y stating that all sums sec~ired
hereby lla~e been paid, and upon surrender of this Deed aid said note to Trustee for' cancellation
alld retention ar' atlrer d~spasltlar~ as T~'~rstee rn its sole d~scretlon may cll00se alld upox~ payn~ent
of ifs fees, Tr~~istee shall reconve~, ~itl~o«t ~~ai'i~ailty, tl~e p~'ape~'t~ then held here~lr~der', Tl~e
~'ecitais in s~~ch ~'ecotr~e~ance o~~ oily batters or facts shall be cai~clr~si~e proof of the tr'utlrfulness
thereof, The ~1'al~tee in such re~or~Veyailce may be described as "tl~e person or' persons legally
entitled. tllel~eto."
That as additional security, Trustor hereby gives to aid cal~fers upon
Benef ciar'y the right, po~~rer' al~d ar~thor'ity, during file cantinual~ce of these Tr~~sts, to c~lleet tl~e
rents, lssl[es and p1'of
its of said property, resel4~ing ~~rlta T~'rrstor' the r'igl~t, prior to any default by
Trustor in payment of any ti~debtedness secured hereby ~i` iii perfarlnarrce of arly areei~leilt
leer;e~~nde~i, to collect aid retain s~zch ~•et~ts, ls~~es a~~d profits as they became due and pa~able~
~por~ any such default, ~elleficiary nay at any time ~'~lthout ~latlce, erther ail person, by agent, ar
by a receiver to be appoir7ted by a court, arrd 4~ithout regard. to tl~e adequacy of and sec~~r'ity for
the indebtedness llerieb~ secured, enter upon and take possession of said propei~y ar any par+t
thereof, in his o~~rr r~arrie srre for' or ot~~ei~~ise collect such Vents, iss~~es, and profits, including
those past dire and ~inpaid, aid appl~r the carne, less casts aid expenses of apel'atiail aild
collection, rncl~zding reasonable attorney's attor~l~ys' fees, upon ails ir~debtediless ecul'ed
~~~IBIT ~-2 ATTAI~N~ENT I I
Ta Deed of Tr~ist ltll Assigr~lne~lt of Rents
ion-Recardabe Attachment '
D~CSDCII ~OD1~7~s?1~I~Q~~7~-OOOI
l
hex'eby, and ire ~€rch order as ~eneiciary nay determine. Tl~e entering upan ar~d taking
passess~ot~ of Bard prape~~ty, the collection of slreh rents, issues and profits and the applicatian
thereof ~ afor'esaid, shall Hat cure ar warve any default or" Notice of default here~~t~tier on
invalidate any daze pt~rsuar~t to suer ~lotice.
What upon default Tr~~stor in pa~rnent of ar~y indebtedness secu~'ed leer;eby
or in pet~farrnance of any agreement l~ere~~nder, Beneficiary nay declare alt s~z~~s see€rr"c~ irereb~
irnmediately due anal payable ~y delivery to Trr~stee of ~~~r"itter~ declaration of default and demand
fo~~ sale and of ~~ritten t~atice of default at~d of electia~~ to cause to be Bald said pr"a~erity, which
notice Trustee shall ca~~se to be filed for• ~~ecard. Ber~eficiatky also shall deposit with Trustee this
Deed, said Hate at~d all dactlrnents evrderle~ng e~pe~~d~tu~"es secured he~ihy.
After the lapse of such time as rr~ay then be required by la~v folla~~ix~g the recordatiarl of
said notice of defa~rlt, arld ~~otiee of sale ha~ring beery given as tl~et~ r"equired by la~~, Trr~stee,
~L'ltllallt demand on Tl"ustar, shall sell said property at the time a~~d place fixed by it ire said notice
of sale, either as a v~l~ale ar in separ~ata parcels, acid in s~~ch or"deg" as it tna~ determine, at p~~blic
auction to the highest bidder far cash i~~ la~vfirl rnaney of tl~e United Mates, payable at time of
sale. Trustee tray pastporle sale of all a~" rly portion of said pr'ape~ity by publrc arlrla€zr~cer~~ent at
such time a~~d place of sale, aid f~•orn trine to tune thereafter may postpol~e sucl sale by public
annout~cer~er~t at tl~e tine fixed by tl~e p~'eceding pastpo~~etnent. Trustee si~ali delver" to s~~cl~
purci~aser its deed canveyi~~ the pr'oper'ty so said, but ~~ltl~o~~t at~y covenant or ~~arra~~ty, express
ar irnplied~ Tl~e rceitals in s~~cll deed of any matters ar facts siaall be canclusi~re proof of the
truthfulness thereof, Arty person, incl~~din Taiutor, Trustee, oa{ ~et~ef
iciar~ as he~~eit~after~
defined, may purchase at such sale
After" deducting all costs, fees and expenses of Trustee and of this Tr'~~st, inclrrdin cost of
evrderice of tale In cannectror~ ~~itl~ sale, Trustee shall apply tl~e pxoceeds of sale to payment af:
all Burns expe~~de~l under tl~e terns hereof, not then repaid, ~~itl~ ace~'r~ed interest at the amount
alo~ved by la~~r in effect at fire date hereof; all other su~~s then ec~~red hereby; ar~d tl~e
ret~lait~der, if any, to tl~e person ar persons legally er~titled ti~e~'eto.
Ber~eficia~4y~ or any s~~ccessor in o~~~r~erslrip of at~y indebtedness recur+ed
leer"eb~l, m.~ fr~an~ titrre to titrre, by it~st~"umenf in ~r~•iting, substlt~~te a s~rccessol~ a~" s~~ccesso~~s to
any Trrrstee Warned he~"ein ar actir~ hereunder, ~vhiel~ inst~tut~~el~t, executed by the Be~~eficiar"y
a~~d d~~Iy ckna~vledged and recar"dcd in the office of tl~e ~'ecorider~ of tl~e counter a~~ co~rnties
where said pr'opez~ty is situated, shall be canclusi~re proof afproper" srrl~stitr~tion of srrch successor
Trustee ar Tr'~~stes, ~vl~a sllali, ~~itl~orrt conveyance from the Trustee predecessor, succeed to all
its tltle, estate, rrgl~ts, pa~ve~'s ar~d d~~tles~ aid ~t]5~t"r~rnerlt must Cotlta~n the rlatne the or"lglr]al
Trustor", T~'rrstee and Ber~eficia~"~ hereunder, the boob and page he~'e this Deed is reco~~ded acrd
the r~arne and address of the r~~~ Trustee
~8} That this Deed applies to, inures to the benefit of, acrd binds all parties
hereto, theia{ heirs, legatees, devisees, ad~nir~istrator, executor's, sr~ccessars arld asslgz~s, The
terzn ene~eiary shall mean tl~e owner at~d holder, inclrrdi~~g pledgees, of tl~e Hate secured
hereby whether or not named as Beneficiary herein. ~n this Deed, ~~henever tl~e context sa
BHIBIT B-~ TO ATTAH~T ~ ~
Ta Deed of Trust kith Assignment of dents
ion-l~.ecordable Attaci~rr~ent
I~aOCII O~b73~t13i~~~2?2-~~~]
7~
re~~ri~~e, the masculine ende~• ~r~cludes t~~e fe~~in~ne a~id~oi{ t~eutex~, at~d t~~e singular number
lll~~lx[~es ~~1~ ~~klt'~l.
T~~at T~~ustee accepts this Tr~~st ~~het~ this Deed, ~uiy exeeute~ and
ack~~o~le~ge~, is trade a pk~biic record as pro~~ded b~ la~~. Trustee is riot obliga~te~ to not~'~ at~~
par•~~ hereto of per~ding sale under and other Deed. off' Trust o~~ of and action ~1• proceeding ~z~
~~hici~ Trk~sto~~, et~eficiar~ or Trustee s~~all be a party unless brought b~ T~{~~stee,
~~I~IBIT B-4 TO ATT~H~~NT ~0, i ~
To Deed of Trust kith Assi~~~nent dents
on~eeordabie attachment
~~~C! 1 ~ ~~b7~ v 13I~0~~72-00~ ~
l
~III~~'
~~T roe r~l~~ ~~o~v~~~~c~
~'he undersigned is the legal a~~~~er and holder ~ the Mote or notes, a~~d of all o#lrer
indeh#ednes sec~~red by tine foregoing Deed ofTrust~ laid note or' notes, togcflrer with ail o#he~•
i~~deb#ed~~ess secured by said Deed of Tr«s#, have bee~i fully paid and satisfied; ar7d yo~~ a~~e
hereby rcq~~es#ed and directed on payrrrent #o yo~z of any utrrs o~~ning owing to yore r~nde~• tine
terrrrs of said Deed of Trust, to cancel said Mote oz~ x~otes above r~entiorred, acrd all other
e~idenees of indeb#edness secured ~y saki Deed of Trust delivered to yo~~ here~vi#h, together r#h
the said Deed of Tr~~st, and to recot~vey, ~vitl~ou# ~arran~y, to #ire parties designated by file ter~r~rs
of said Deed ofTr~~st, aid tine estate no~v held by you ~~~ade~~ the satrre.
Dated:
Please rail Deed of `~~`~~ust,
dote and Reconveyance to
~o r~o~ dose o~• c~es~~•o r ~~~is ~e~c~ o ~'~•~~s~ ~ 7`~~.~ ~~fiT~rc~t i~ se~~~r•es. ~n~h r~r~~s~ ~e
~e~i~f~~rec~ ~o C~~e ~~•t~s~~ o~• c~~ce~Ia~io~ b~ o~•e ~•eo~~~fe j~~?C~ x~f~~~ ~e ~~~~a~e.
DI+~~D 'BUT
~lf~l po~~ver Df alc
TI~U'~~~
f
~HIBIT -1 T~ AT'TA~~~T N~. 11
~'o Regr~es# for Pull or7vo~~at~ce
DD~~~114~0~?3~'13i~~~~7~•00~1
c
~ l
lti~lf~~ 1 ~ ~L' L` ~ T~~
Tl~is ~~~]~R T~ ~~~D U~ T~~T is lnade and delivered p~trsuat~t to and in
it~rplemer~tatior~ of the Horrrebuyer Lean A,t`eement entered and between the Tr~rstot" and the
~erre~ciar~r dated ~ ~ ::~`:::.:~4.:`.: ~"A1'eet~~et~t"~, a cop}r Df ~~lric}~ is on f le as a
.s.:..-
publicr'ecor`d v~ith the ~et~ef~ciat`y at 2~ civic tenter` Playa, Santa Ana, alrforr~ia 92~~1 and is
incarpot'ated herein by refer`encef Unless defilritiot~s of ter"t~s have been e~~resl~ set out t
length herein, each tetra slrall have tlae same de#"inltlon as set fo~~t}~ rn flee At`een~et~t~ Trrrstor
at~d beneficiary f~rr`tlret` covenant alyd agree as folla~v:
1, Aeceler~a#roli of Payment. The whole of t}~e Note Alnount and all other
paytrretlts due heteutrder at~d under the Agreement shall become dtte alyd be imtrrediately payab}~
to the ~eneficiaty by the Tt`trstar upon the occur"t`ence of any otre of t}~e follo~~ing evetrts of
acceleration:
~a~ the sale or tr`ansfer' of the Prapet'~y dot` at~y pant thereat by any means,
tl~cludrn, ~vtthout lttnltatlor~, t}~e }ease, excl~at~ge o~" other` dtspastttorr of tl~e Property ar` ley
ilrter'est thereil~, ~vlrether` vol~tntat"y or involulrtat`y, except ~A} a sale of the ~'~'opet"ty to a qualified
Modet'atc ~ncol~te Hortsel~old at an Affat"dable Hausirig host with tl~e Betre~cial`y's prior" ~~~ritten
approval accorrtpii~ied its strict conforlity ~vit}~ ectiatr ~ of tie Areet~etrt, or` the tt'ansfer
of the Property solely as a result of the marriage divorce, incotrrpetetrce at" death of one or snore
lt~drvrdrtals col~S~ttuttng the Tr"llstat", so long as the tt'ansferee~s} ~lve ~vt`tttet~ notrce sllppol'ted
r'easarrable evidence of suclr event to tine ~et~ef iciar*~r v~lt}~lt~ thta~y dais o~ lts occ~tt•t't~ce at~d
the trarrsferee~s~ assttme~s} the Tt'ttstor's obltatron utrder t}~e Agreet~~ent, by execution of an
assit~n~ent and ass~rrnptior~ at`eement fa be provided by t}ie Berreficiat`y, at" sale ar transfer
which ltnder" federal la~v ~rould trot, by itself, pet"mit the Beneficiary to exercise a due on sate ar
due otr enc~rn~brance clause;
fib} t}~e Triustar t`efinar~ces any pur'clrase tnotxey lien or eticutrtbratrce to which
t}le Aet~cy Deed of Tt'ust is s~€bor`ditlate ~eacl~ suc}~ lien, a "First Lieu"} fat" a loan atnaulrt itr
excess aft}~e them cut`r`elrt loan balance secut`ed by srtc}~ lien ar errcumbt`at~ce and loan clositrg
costs; alydlot`
~c} t}~e Trttstat' ~alyd ai ca~ignors and co-rnot~tgaars, tf any} fatly to o~~rn and
occupy the Property as tl~eir" principal residence pltrsrtatrt to ectiar~ ? of the Agreement ar is its
~~vrxer'si~ip T~efault as defilred its ectiotr I~ oftlre Agr`eet~retrt.
At the request of tl~e Tr'utar, and for' a specific occasion, the »etreficiary may, in
its sa}e and absolute discretion, in writing waive t}~e req~titer~retrts of these subparagraplrs, Al~y
waiver or defermetrt slrall be on a case by case basis, and no future t`ig}its for waiver` or defertrretrt
shall anise or' be implied, Nat~vttlrstal~dtn the faregoilrg, tine Trrrstor gray, upon pr`ior' ~vr"itten
approval by the Bel~eficiar"y, refitlarrce alry ~it'st Lieu far a lawn atnoatnt egltal to ar less than tie
their c~rrt'et~t }oan balance secured by such First Lien,
otr#ia~e~~t Eq~ii~ Par#icipatlorr Atrrotz~l~, ~n the event the Note Atrtount
becomes drte and payable p~tr`srtant to ectiot~ i, Tr'utar shall pay to tl~e Beneficiary t}le ~vllole of
B~HIBiT T~ ATTAH.Nt~NT~~. l l
To Deed of Tr"ust with Assignrrrent ofRents
Rldet" to Deed Of Tl'~tst
~~trs~~~~ ~~~~~~L'1~~~~~~~~-~~~ ~
fire Home~u~er Assistance Loan Atnaut~t and tl~e "ontinet~t ~quit~ Participation Amount," as
het'eaf het' def
fined
~a~ ~lcu~a~inn of ontl~rgenf ~qui#~ ~ar~~cipa~iorr Amou~rt~ The
"ar~tinerrt equity Partfcfpatfo~r Arrrourrt" ~rreans an atrro~~nt equal to a pe~~centae sl~a~ie of tl~e
apps+ecia~tion of tl~e Pr~aper~y deterrrrfned by rrrultfplyrn a varial~Ie percentage factof~ ~;`variable
Applicable ~"actaf'"} the differefrce bet~~eetr tyre ales P~iic and tl~e Purchase Price has thaw
te~4rns a~{e her~eilrafter de#ined~,
~'ur~iablc App~icab~e ~`e~o~• a~cu~a~iar~~ Tl~e variable Applicable
Factor sl~all be calculated by df~rdf~rg the ~etre~efary' total iflitial ecluit~~ cont~iibutio~~ ~~hiei~ is
deemed #o have beer p~•o~rided to Tf"ustor based alr sale of the Property at arr Affordable ~~ausifrg
host {"Agency ontf~ibutiotr"} b~F tl~e s~~x~ of tl~e Aenc~~ Contf'ibutian plus the Tr'ustar's
ca~~tf'ibutiarr {"Hon~ebuyer ofrtr'fbrrtlorr"~. Ifr other' ~at~ds, the Agency otrtri~~tio~~ slaaii be tl~e
nr~~n~•ata~~, at~d the stun of the Aenc~l arltl'ih~~#ion plus the Homebuyer ontr~ib~~tiorr slrall be
tlrc denofnfrrator of a ff'actiotr tl~at e~uais a pe~~centae that i tl~c variable Applicable Factor
~s~rbject to ectlorr ~~~~f~}~
~~~~~i~bt~ Applic~bte F~to~~ ~ ~~enc~ oizf~~ibutiv~i
Ag~ircy ~o~~t~{ib~~tio~~ Holrr~b~~ye~` C~~~tr~b~~t~~l~
Fo~• example, if the Agef~cy Cantributia~r eq~rals ~O,aaa acrd the Horneb~~yer
~o~rtrib~rtion eq~~ais ~SD,~~~, tl~e variable Applicable Factor' ~~ould equal ~ a~7°Io ~a,~D~
dl~rded ley the sufn Q~ ~,~a~ plus $250,~Q0~
IO,~°I~ ~Va~;isle Apt~l~c~ble ~~~to~•~ ~ 34,~~0 fA~ency ~ont~~ii~~itia~~~
~~gellcy ~Ull~l`ll')~~tl~il~ ~Homeblt~el'
~411t17~1i1tID1l~ = ~~~~,0~~~
~i~ The "Aefrcy ontf"ibutiorr" is the ~~~n of the ~allaing a~~~ox~nts
co~tribr~ted by ~e~~eficiar'y fo the p~~rehase price of the Property; ~i} the pritrcipal amount of tf~c
~orneb~~yer Assistarrce Loa~~ Arnout~t; i ~e~, tl~e Affo~•dable Housir~g host subsidy; and ~ii~ the
prrrrcfpal arno~~nt~s~ of airy otlref• loaz~~s~ or subsid~~ies~ laro~~ded b~ ~eneficia~'y.
iii} Tlje "Horrrebrryer ontr{ibutiorr" is the sufn of the follo~vitrg
airrounts cantr4ib~~ted b~ T~'r~tor to tl~e purchase price of tl~e Property: ~i~ the principal amou~rt of
the F1I'st Lfe~r laatl; ~ii~ the Tr~stor''s cash do~~~tr paytrretrt plug Tf'Utor's po~~tion of closing casts;
and ~iii~ the ariif~al principal amount of Ioafrs~s~ or atlrer' subsidy~ies~ secured by Trk~~stoz4,
~e~cludlfrg and other tlran ioar~~s~ oa4 subsid~r~ie} pra~ided by Aget~cy ar ~encficiary has set far'th
in #lre definition of Age~rc~r atrtrlblltlorr}} a~~d applied by T~"~~sta~• ta~~rd tl~e purchase of the
Propa-ty.
EHIB~T -3 T~ ATTAHN~T N0, I ~
To Deed. of Trust ~vfth Assrnmerrt of dents
hider to Deed of Trust
~ ~~SO !1 ~ D~673v ~ ~12~~2~2~~~Q ~
viii} The "Purclase Price" is the orii~~al purchase price paid by the
Tr~rstor far the Tr~rsfar as the q~~ali~ed successor a~~r~er of the Proper-ty~ to the seller of the
Property the "Seller"~ the Seller's interest in the P~iopet~ty ~etlerally ~~hich i equal to the
fair market value of the Pr`apel•ty at date of ariinal p~~r•chase~, eclusi~e of escra~~ Fees, title
lnul'ance costs, bt•ol~er's Cotl'~rY~issiar~s, loan fees or any otller clasirl ar tratisactton casts.
Slrb~ect to the provrsrons set fo~~th hereinbela~~r, the value of Q~zli~ed capital I~npra~e~rrent
shall be added to the Purchase Price ~rl~en calc~tlatin the at~tit~ent equity Pat•ticipat~o~l
Amaur~t,
{i~} The "Sales Pricy" is the price to be paid by the prospective buyer
~~l~a is clot a gt~altf~cd Moderate Incan~e I-Iousehold) ofth Propert~~ ~tlie "Btlyer~'} to tl~e Trustot~
for tl~e Trustor as the q~talif~ed successor{ owner of the Praper•t~} for• tl~e Tt~ustor' i~~terest irl the
P~•opcrty, ecl~rsive of reasonable escr•o~~~ Fees, title insut•ance casts, broker's cot~~xnissla~ls, loatt
fees or• at~y other clasittg ar transaction costs Tlae Sales Price sllall be established its corlfoa•~nit~
itlt ~ectian ~~1~}~i}hereof, ~n the evet~t ofTrustar•'s refir~aticltl~, fai~ut•e to occupy, oi' other type
of ~~~nership Default, tl~e "Sales Pt~lce'~ sllall be established ire corlfo~~~l~it~ ~~~ith Sectiatl 2~h~~ii}
hereof,
~v~ The "Affordable ~ousi~l host Subsid~~" is tl~e amount deer~led to
be a subsidy the I~eneficiat•y leas p~~ovided to the Trustor b~ rnakirt~ the Property available far
purchase at a price hick or~stit~~ts A.ffat;dable Ha~rsir~g host. Tl~e Affordable Ho~rsi~l fast
tzbsidy equals the differetlee betu~eet~ tl~e appraised fair market value of the Property ~v~hlcll
appraisal shall be at ~eneficiar+y's cost} as of tl~e date of the Hatnebuyer Laar~ Agrcernei~t at~d the
Affordable Hausirl ost~
~i} ~xceplio~t alcu~atia~r, ot4~~rtl~star~drt~g tl~e above, the variable
Applicable ~'acto~• sllall equal the r~ eater. of pe~~ce~lt ~Sa°~o} or tl~e ~ariahle Applicable ~'actoz•
calc~~lated p~uisuattt to Section ~b~; provided l~o~~e~e~i, in the evet~t Trustor reccl~e a ~rrst Lien
loat~ from the California ~ausiug F~~latlce Agency ar• a p'irst Lien loo:a the solu~ce ofptaceeds of
which are from tai exempt bons, then the variable Applicable liactor• sl~a~~ equal the variable
Applicable `actor percentage cale~rlated pt~rsuatlt to ectiorr ~~b} l~ereaf,
~c~ Usiatg tote ~ar~able Appl~cab~c ~ac~o~1 to ~ete~}Itii~~e the olitii~get~~
~gtll' P~~'f~Clp~f IO~~ AI~]ULCII~, The ~otlt~ngent ~qurty Par•trclpatlot~ Atr~o~~tlt calculated
~llultiplyirt the ~ar•iable Applicable factor by the difference bet~~eer~ tl~e Sales Price a~ld the
P~tr•chase Price, ~'oz~ eat~lple, if the ~ar•iablc Applicable factor equals I ~,~°Io, the Cor7tingcr~t
equity Par~icipatiorl Atno~~~lt would then equal X0.7°~0 ~~at4iable Applicable Pactar~ ~ Sales
Price ~llitl~ts the Purchase Price},
Irr the above exan.~ple, if the Sales I'~~ice equals ~80,~DD and the Purchase P~;ice
egttals ~8a,00a, the arrti~lget~t Equity Par•trctpattoxl Amol~rtt ~vauld egttal ~ a,7aa
~14~7°Io ~ ~$SO,ooo minus ~Sa,aaa}},
EXHIBIT -4 T~ ATTAH~~T N~.11
To Deed of Trust ~~ith Assigrltnetlt of Re~lts
hider to Deed of Trust
DDCSaGII ~0~673v131200~7~-~0~1
1U.7~1o ~4~~~~iable Ap~tlicu~le ~~c~ar} ~ ~o~,~UO ~~les Pricy - Purci~~se Pt•ice) _ $~D,7~U ~Coitti~tenf
~q~ity ~at•fici~~tiort Amouttt~,
~d~ Calcu~a~lo~~ of Corrfiligc~~~ ~qui#y Pa~•~ici~aa~ion ~~nour~t for
~rbsegr~e~r~ ~o~nebuyers, If pur~sua~~t to Section 4 of tie ~reernerit, buyer` leas fully
assumed the Trustor's obligations ~rnder the Agr~eernerit, tl~e dote, tl~is Agency Deed of~`rust, the
~atice of ~ffordal~ility Retr~ictiot~s, a~~d the ~.ffordable Mousing Resale Restt4ictiox~, a~~d
tl~erea~fter tl~e ne~v buyer, as the successor` I~orneb~xye~•, is its ~~vr~ership Def.ult tl~at ca~~ses are
event of acceleration to oCC~tr, the Cot~ti~~ent equity Par•trcrpatlor~ Amo~ln~t to be paid h~ such
rryer s11all he ca~culatec by rn~zltiplying the ~arlable Applicable Factor, stabl isl~ed iii
Section 2~1~} above by the difference bet~~veen tl~e Sales P~~ice, establ~slled rn confor`rnity ~rtli
Sectlan ller'eof, axed tl~e Pr~rcl~ase Price,
~e~ Na Appr~eci~fioi~ o~' Depreciafion i~~ '~alrzc of P~•apez~ty, If ate event of
accele~`at~otl ocel~r,s at a tune ~vheri the Property leas ~~ot app~•ecrated or the val~~e tl~ Prope~•ty
leas dep~`eciated ~i~e., tl~e Sales Price is less tl~arr tl~e P~~rchae Price, tlrer~ no Coritir~get~t ~q~rit~r
Partrcrpatron Atno~~r~t is d~~e by tl~e Trustor to the Berrefrcrary,
~ Q~ra~ifict~ Capital ~mp~~ovements, ~'he value of at~y Qr~alified Capital
l~~~pr+ovet~~et~ts completed ley the Tr`ustor` d«rit~g tl~e `l~a`utor•'s oti~rnership of the Proper`t~~ shall be
added to the I'r~~`chase Price lrerr calculating the Coz~tingent Equity Partrcrpatron Amount only
if, rrat later tlrat~ tl~ir•ty days pr'ror• to tl~e Evert ofAcceleratiorl ca«s~ng the Contingent Equity
Partrcrpatron Arnour~t to become imn~ed~atly due and payable p~~r`s~~at~t to Section Trustor
s~rb~nits tl~e follo~vin to the ~eneficrary: ~i~ an itemized lisp of the Qualified Capital
ln~p~`oven~ents, iii} reliable proof of
cornpletior~ o~ the ratified capital Itnpro~etnet~ts has
evidenced e~g~, by final b~lildit~g permits, a certificate of completion o~• original paid invoices or
canstructior~ contracts}, ar~d iii i~ an appraisal fron.~ a certif
ied appraiser, its fo~`m and substance
~`easonably acceptable to tl~e Exec~~tive Dir`ecto~•, the conclusion of ~~hich is that the Q~~alified
Capital l~~proveiner~ts have added the stated atno~z~~t to the fair marl~et value of the Proper`#y,
If, itl~in ~~a} days of re~e~l~t of the rr~forrnation cor~cerr~ing the Qualified Capital
Irnproven~ents, the >~er~eficiary gr~estions tl~ claimed ir~crease its tl~e val~~e of tl~e Property by
r`easor~ of said Qualified Capital Improvements, the Beneficiary and the ~r~rstor may, by rnut~~al
areetne~~t, establish tl~e value of the Qualified Capital I~npa•ove~ner~ts or the Beneficiary may
require are appraisal of tl~e Propert~t, at tl~e ~'rustor's expense, by a seco~~d ir~depet~de~~t cer•tifiecl
appraiser appointed by the Ber~eficiaz~y to determine the fair' rnar`ket val~ze of the Qualified
Capita 1 Improvements,
fig} Crc~if ~o ~`rus~ni#~ ~ot~vrthstarrdir~g tl~e foregoing pz'ovisions of this
Section 2, calculation of tl7e Contir~gex~t Equity Participation Arno~~rrt is subject to a superior
right of tl~e Tx4ustor, to receive credit in calculatior~ of the P~~rchase P~•ice fart ~norey paid by the
Tr~~stor post acq~zisition and during the term of the ~'rutor`'s o~vnex•sl~ip of tl~e Praperty for
installmer~t payments of mortgage principal, p~~rsuant to the First Lien actually made by tl~e
E~~IIBI'p C- A'~'7`ACI~B~T N~. ~ 1
`I'o Deed of`'I'rust ~~rrtl~ Asslgn~ner~t of Dents
I~~der' to Deed ~'1'ust
DQCOQI1 ~0~~73~R13~2~~272-~~~ 1
Tr~xs#ol•, 111 addltlol~ tl~e fa~t• market val~re of ~ualrfied apltal Improvelner~ts consistel~t Zvi#h
the 1'egUll'ell~ents Df ectlol~ hel'eof~
{l~} I]efet~l~~ina#io~l of les Price; App~~a~sa~~
~i~ Upoll of #~le Proper`#y, In the ~ver~t of a ~ro~osed sale of tl~e
Pr;oper•ty T~•~~toz4 that does trot car~~'al~~r~ fa e~fian herein, ~~id not lei than t111t~~ ~~0~ d~~r~
after ~e1~ef~C~a1'~ 1'eCelveS act~~al notrce ~f the ~pex~ing of escrow its connection the~'e~vitl~, tl~e
Bet~eficiaa~~ tna~ elect to appoint a cel'tified, tncleperrdent appraiser to cox~d~~ct a~a appraisal of tl~e
Pl'opert~, at Tr~~stol•'s expense, to assist Bene~ciatt~ in determining if the Sales Pr~ee is at ar gear'
the fail lnarket value of the Proper't~ at such tirrre~ If the Sales Price i deterlrlined b~ the
appraisal to be t~~ree percent ~3°Io~ ar lI]Dl'e hela~v tl~e fail• r~larkef value of tl~e Propelt~r as
estimated il~ paid appraisal, then tl~e "Sales Price" for' purposes of deterr~~lrring tl7e antinger~t
~grrity Participation Alna~rl~t shall be tl~e fair lnarket vai~~e of the Prope~'ty established in said
~~~'aisal,
~rr~ Upox~ Ref~r~az~ci~~gl~i~rire fo ~ccripy~Defaul#. Ili the ever7t of
r'e~nallcing, failure to accup~ tine P1'opex+ty i~~ acco~•dat~ce ~vitl~ Section '1 of the Agreement, or an
~vr~e~'sl~~p Default Mich causes the dote Ar7~ol~l~t 111Cluding tl~e ~Qlltll~.ge~]t 1~c~~~~t~ Pa~•ticipation
An~our~t to become ilrll~ediate~y due and payable, the "Sales Price" for pul'poses of det~'~r~ining
the ontinger~t ~q~~lty Par•tlc~pat~on A~nor~nt shall be deter}mined b~ an appraisal of the Pl'aper•t~.
The Berleflclary Shall appo111t ~ ce~'t~fied ~rldependet~t ap~'alsel• to col~duct an appralsal of the
P1•operty, at tl~e Tl'uStal''S expense, The Trustor agrees that 11~ s~~cia eve~~t the ~o~~tllier~t ~~r~~t~
Participation ~mor~nt shall be the ~arlable Applicable Pactor• rnr~ltiplied b~ the diffl'er~ce
between tl~e Purchase Priice and "Sales Price" as established b~ the appl'aised value of tl~e
Proper~~~ at tl~e tune of s~~cl~ re~ix~anci~~g~ failure to occupy, or other Ownership Default of the
Areerr~ent.
~i~ Tt~uSf~x~' Ae~~t~a~~~edgrYtent of ion#~nerl# I~q~li#y
Par~f~cl~atlo~r Amou~rt~
TRL~ST~R A1I~''IJI;I~GI~ ANA ARIt~I~~S `TEAT UPON
SA~I+~, TRAN~R, OR RIt~PI~ANIN T~IIt~
PR~P~RT~' TEAT ~~E NAT ~~NII'I~Y IT~I SI~1TI~N
HERI~IN, AN~]1I~R UPON AN'Y ~TI3~R DE~`AUUT THAT
CATIS~ AN 11~I+~NT 0~` A~~~I~RATY~N A SST I'~RTH
YN "TIN PR~~R TO T~II~~ F~RT~~~`II`TH
ANN~~~RSAR~ ~r T~~ R~~RDATII~N ~AT~ a~
TINS A~N~ r TRUST, TItUSTR
T~ I~I~~N~PIIAR~ I~ ADDITION T~ T~II~ A~I~~C'~
~I~AN ANI~IJNT, A ~NTINI;NT I~~UITY
PARTIIPATI~N ANI~UNT I1~UA T A PER~NTA~
S~AR~ THI~1 APPRI+~IATI~N TI~~ PRI~P~RT~ A
AI~~I]~AT~D PURSUANT T THIS SI~~TI~N ,
T~~us#or~s I~ritials;
~~IIBIT T~ ATTAI~NT N~. ~ ~
To Deed of Trust ~vitll Asil~lnent of Dents
Rider to Deed ofTrust
DOCOC~I ~~0G73v 131202?~-Q~~ 1
f Safe fo N~ntier~a#e Ii~calne ~at~sehald. D~zring Affordability Period, the Note
Al~ra~tti# ~~ill 11Q# becatne due and payable, and na ontllig~lit Bqul#~ pat•trclpa#ton ~An~ort~~t shall
lie r+e~~~i~•ed I~et4eut~d~ri In cantlea~lon ~~~1#h t#eI1 gale, if T~~u~to~• yells ar otl~al~~isa can~e~s the
Frapel•t~ to a ade~'ate Income Hausel~ald at an Affordable dousing host ~"Bliible Pe~~sol~ and
Families"~, and the pul'cliaser• assut~.es file Note and the Agt'eet~el~t by an assigrirnent and
ass~~trip#ton agren~e~~t ~~I~icl~ is reasariably accep#able #o the Bexie~cia~~y~
F~1' the purposes of tills Aeticy Deed of Tl•ust, tl~e Note, and the Ar•eelnent, "adera#e
~licalnc" acrd "aderate InC~i~le I~auselialds" rneatis riladcrate itica~ne l~ausel~olds as defit~~d iii
I~ealtli Safety bode Sec#ion 5~~93
~,1 Affoi*t~ab~e ~oltsixig host - oderafc Ylrcalne ~oXre~raZt~~
"Affoldable ~o~~sing fast" shall be as defined in ~-Iealtli Safe#y bode Section ~a~5.5
~oi• its successor stat~t#e~ and #lie itnpleli~ex~#i~~g ~~egrtla#ions thereto pralilulgated Icy #lie I~a«iti
at~d ~atr~rnitt~ity De~elopmelit Depat•tlnent a~'the State of alifortiia.
Na#~~i#lista~idit~ tine p~'o~~slol~s tills Sectloli if the Pl'apel•t~ is said durix~ #l~e
Affaridahlli#~ 1'el'iod by tl~e T~•us#or to a Moderate Iliconie I-Ia~tsel~aid atl~l #I~e Sales Px•icc does
trot exceed ate "Affal•dable ~Iausilig Q~t" #a such Br~ye~`, tl~et~ so Iotig as the Trustor is not lti
defa~zlt lei#her O~vnersliip Default or aititetiatice Dcfa~~I#} of the At~ectrrent, this Nate lilay be
assutiled b~ file eligible B~tyr by ate ass~gnmelit acid ass~~tiiptlon agt•eetrtex~t ~vi~icia is aeasanably
acceptable to #lie Be~aeficiar~~ upon tl~e e#'fectt~e date of s~~ch asslgtimelit and ass~~z~tptian, the
assignitig Tl'ustar shall na longer be liable far atiy frtrither obliatiatis rttldet• the Agreerneli#, the
Na#e or #l~e Agency Deed of Tr•~~st #Ilat accr~~e aftx• the date of such asstgnmerit and assumption,
ordeti to ~erif~~ the Bu~~er's status as a Moderate lnca~ne Hortsel~old, the Tr'ustar shall sublilit
to the Belreficiat•~r tine idet~#i#y of tl~te proposed B~lyer acid adequa#e ilifal•rnatio~~ evidencing tl~e
11100117 atld lia~~seliold s~~o a~ the pl'oposed Buyer. Bald lncalne lnformatiali shall be s~~b~.itted
together ~vith tl~e notice of propased sale put•suant t~xe Agreeme~~t not Tess tliali thirty days
prior' to apeni~~g of escro~~ far the pr}oposed sale acid sliall iticl~~de ar•iinal ar t~itte copies of pay
stubs, iticanle tai ~•ecards or a#I~er financial dact~rnents in ar•der• that file Haller nay de#ern~ine
and verify the liauseliold ilicalne of the p~'apased Buyer to detel•rnllie ~~~lietlier• the B~ryel• is a
Moderate Incanre I~a~tseliol~l, acid v~hetliel' tl~e I'~•opert~ is being trat~sferl•ed ~o such Buyel' at all
Affordable Ho~tsir~ host. If tl~e Molder is i~nable to ~el•ify file Buye~~' income as prio~Tided
lier•eiti prior to file p~~o,posed sale, then file Buyel''s income shall be dee~~ed to exceed tl~e
nia~imtttii alla~ahle ilica117e limit for Bltglble Pet•sotis and Fatililies.
,U~}Ot'[~1ti~~lOtl, BKCept as pra~vlded a#liet'~~~se I~et•e~rt, the pr'ovlslans of the
Agl'eemer~t, tl~e Notice of Affordabtllty Ides#t•lctlans, #lil~ Rldel' atld Agency Deed of Tt'ust, at~d
file Affardable I~o~~srtig Resale Res#1'ic#iat~, and the obligatioris tl~er'eili, sliall be subardiliate aril
to the First Lien oli the Property Held by the Lender at~d, if applicable, ather• laan~s~ as appra~ed
by #lie B~ec~~tive Di~•ectar, it~clrtding Iiet~ instl'umelits that secure a#lier liomeb~~yer p~trchase
money andlar daripa~rr~etit assts#ance, tncludit~g ~~lthaitt Illnltatlon lty, State of alifarnia, ot•
fedez~al affatida~ble housing praglarrts, ~~liich lielrs shall t~a# irnpaia• #17e rights of Lender, or
Letidel•'s assignee or successor4 its interest or file Agericy, if applicable, to exercise their remedies
under the First Lleli tti the event of defa~tlt under the First Lien by Elie I~ornebuyer, Such
l~~H.IBIT -7 T~ A.TTAHI~IBNT ND. ~ ~
To Deed of Tl•~~st Zvi#h Assin~nent of Rents
Rider to Decd afTl•~zst
~~CS~C1~~~QG73~~131~~~~7~-001
r•ernedies under the Fit•st Lien include the r'ilrt of foreclosure otk aceeptar~ce ~f ~ deed ar
Assgnment rn lre~~ of fot•eclosu~•e~ If title to the Property is trar~sfez•t•ed by foreclasur~e or
acceptance of deed irl lieu of foreclosure, or• assln~ent of tl~e First Lier~ to the ~ecretar•y of the
Departrnerrt of ~ottsing and Ut{ba~~ Developrrrent, this Agr•eetnent and tl~e A.ger~cy Deed of Trust
shall be a~~to~natically ter'mina.ted and slrall lave na firr~tl~er effect as to the Property er• airy
tr'ansfer'ee tllerea~ea}. Ho~vever~, in na event shall this Agreen~et~t, the Aget~c~ Deed of Trust, and
the Affordable Housing resale Restriction, be subat'clir~ate to any First Lrer~ on the Property
securing a laat~ ~vitl~ provisions ~vhicl~ allow r~egative an~ot~tizatiot~, or' to r'e~rlaricrr~g of the lien
of the First Lien for a loan a~r~o~zt~t its excess of the surn of the there c~zr•r•ent loan balance seclxred
b~ the First Lien and loan closing costs
Trustor agz~ees it shall irYStr•uct the >1scro~v Agent for tl~e acquisition of the
Property by Trustor that tl~e order of recot•din ire the escr•av~ for the p~zrcl~ase of tl~e Pt•opet'ty by
Trustor~ shall occ~u• as folla~~rs; the grant Deed, the First ~,ier~; otl~et• affot•da~ble
housir~g loat~~s~, if applicable; ~4} the Affordable Housing Resale Restriction; 5) the Notice of
Affordability Rest~iictiens a~~d the Agency Deed of Tr•€~st, Aget~c~ shall cause a Req~rest for
N~t1C~ Default t~ r•ecor•ded o~~ tl~e J. 1,V~1'~ 1 ~~~~~~414~~~~ t~ t~~ ~'~~al•~~t~Vl~ a1 tl~~ ~~~•U~ 1.,/~~+~~
deed of trust or mortgage req~test~ng a statr~tory notice of
~efa~rlt as set far•tl~ ~t~ tl~e altfot{n~a
Civil Code ectiot~ ~~4b, and shall cause a request for Notice of Delit~quet~cy to be recorded on
the Property st~bsegr~et~t to tl~e recordatrorr of the Fast Lier~ deed oftrr~st or t~artage.
~N ITS ~~~F, Trr~stor has executed tl~rs Rrder• to Deed of Tr~~st as of the
date set forth belo~v,
TR~T~~I~~E~3~J~~R~
Printed Name,
~'ri~~ted Name:
H~B~T TD ATTACHN~ENT ~ ~
To Deed of Trust ~vith Assignment ofRents
Rlder• t0 Deed Of Ttiust
DOC0~1~ ~~~G?~4r~ ~1~~027~-~~~ I
I+1I~Y~IT
A~'I'~~iIIABLL ~I~~I RLALE I~~TItICTI
REUT~D ~
AND BEN R~~RD~I~ MAIL T ~
otr~n~unity Redevelopment Agency ~
of tine pity of Santa At~a }
a r~'1C et1t~1' ~'taza
at~ta Ana, alifar;t~i~ 9~70~ }
Attt~~ ~xecuti~e Director ~
Ti~is docurr~er7t rs exempt frarrr payrr~ent of ~
recoz~d~n fee p«rs~tat~t ~o Ca~ernrnet~t bode
ectior~s 27~$~ at~d Ala,
A~~~~DA~LL ~~UI~~ RE~.LL RI~JST~I'~I~N
{ondittion, o~~e~~arr#, attd Ile~t~'lc#iox~ A~fec#ill del I'~~oper~y lrt~ #~re Re~a~e}
~~~vt~~~~~~~i~~, ~ccu~~~ncyy ait~#et~aticc, ~tt~ ~t~ier #~e~~s ~.ela#ec~ ~o Read I~raper~y}
Ti~~s AI~~'~R~]ABLIt~ H~I~I MALI+1 I~'~I~.ITI~N ~"R~stt~i~tian"~ is tna~~
~"Hotneblryer"~ ire fa~rot4 of the ~LtNIT~ DEL~~~I~NT A~E~'~ ~F T~I~~
~YT~' SANTA AAA, a p~rblie body, torpor;ate acid potitic ~"Agency"},
R~ITAL
A, Hot~~eb~ryer has pttr~chaed a single family house located at
, Santa At~a, aliforr~ia, as suer real ~t`oper'ty is t~rore pat~t~cutarl~~
described in "Attchn~e~lt No. i"attached i~ereto ar~d incorpot~ated heroin ~"Pt~operty"~~
B, I~a~rreb~tyer and Agency lave entered it~ta that certain Homebuyer Loan
Arcernerit ~"Loan Ar~eerr~ent") dated of e~er~ date t~e~~e~vitlr, ~~i~ic~~ is it~carporated hercttl by
refc~~ence atad a copy of ~~hlcll rs ot~ file mirth Agency at its offices and rs a p~tl~c t~ecord,
purs~lat~t to ~~hich Agency Baas agreed to ca~rse the ~roper~ty to he sold. to Hon~ebtryer at a
Moderate It~cotr~e Affordable ~Iousir~g host b~ pra~idit~g certain fir~at~cial assistance to
~o~~~ebuyer ~"~orne~uyer Assistance Loan"~ ar~d Hot~ebu~Tcr has agreed to suheet the ~'t~~pet~ty
to ce~~tait~ canclitions, covenants a.nd ~~est~~ictians, capitalized terrrrs used herein and not
other~~ise defined shall l~a~e the same rneat~in as set for•tl~ its the Loan Agree~r~ent.
ot~.ebuyer aril Agency desrre at~d intend to restrict the Property and tl~e
irnpro~ret~rer~ts thercot~ ita accar~ancc ~~itl~ this Restriction to preserve its ~all~e far fhe benefit of
Horrrebuyer~, its a~~cccssars acid the urroundrrig netgl~borhaod~
Hor~eblryer is a Moderate ~ncorrre Household, as that terrn is defined ~n this
Restriction
EXHIBIT D- T~ ATTA~M~NT N~, ~ 1
Affo~~~al~le Plo~tsin Resale Restt~iction
T~~CS~C11~~~~73~~~3f~~0~7~-~~~1
l
f
~ome~€~yer llas represented to Agency that ~otl~ebuyer and ~amebuyer's
household iriterrd to reside itl the Property as ~omebtrye~"'~ principal residence at all tir~les during
Harrrebuyer4's a~~~ne~"ship of the Property.
New} `TH~I'pRE, for good aril valuable consideration, the patties ag~'ee as follows;
~efirri~~ulrs
"A, ,~o~~r~~r~i~i~,~~ Per~ior~" Inea~~s that period of time eo~linel~cin ~rpar~ tl1e Date of this
Restr'rctrarr and ter'nli~latillg on the forty-fish ~45th~ aririr~ersary of such date.
fo~~dc~bl~ I~~t~sr"~~ o~F~" means flee pur"chase pr4ice far' ader'ate ~r~carne Hat~sel~old~
pursuant to aiiforr~la Health Safety bode ec~rorr OOS2,S, the itnplernentirrg regulations of
Sections ~9Z~, h9~~ and h90 of ~`itle ~5 of the aliforrlia bode of Regulations far Moderate
incaxl~e Households
Notwithstanding the pr'o~risions of this Restrrctl~~l, if the Property is sold dui"i~lg the
Affardabrllty Period ~y Horrrebuyer to a ode~'ate Incarne ~-~ouseho~d, and the dales price does
nod exceed air "Affo~'dable Housing host" to such Buyer, there so long as the faker is not err
default ~eithe~' ~wrrerslrip Defat~it ar Maintenance Defat~it} of the Agr'eernerrt, this Note tllay be
assumed by tl~e eligible Btryer' toy air assignment arrd assurnptiorl age+ee~ne~~t that is reasonably
acceptable to Age~lcy" [upon the effectr~re date of such assrgnrnent and assr~tnptian, the asi~~ing
Honlebr~yeri shall no longer be liable far' ar~y fi~r•tlrer obligations under the Loax~ A.greeme~lt or
this Restt4ictiarl that accrue a~e~i t}le date of such assigr~ment a~ld assurrrptiorr. order" to verify
the Buyer's status as a Moderate ~ncor~le Hausel~old, Horr7ebuyer4 shall subrllit to the Agency the
identity of tl~e proposed Buyer and adequate irlfornlatian e~idelrcing the irlCOrne and hotisehoid
size of the proposed ~tryer. hard rrrcorne rnfor"rnattarl shall be strbrnitted together wr~h the notice
of proposed sale p~rrsuarrt to Section ~ of the Load Agreerllerlt riot less tlrarl tlirr•ty ~D~ days pr"lar
to opening of escrow for' tl~e proposed sale and shall include ar4iinal ar true copies of pay stubs,
income tax records or other' finrrcial documents in order' that tlro Agency nlay determrrie and
~e1"~fy the llausehoid lnca~rre of the proposed B~ryer' to deter•rnlne ~~llether the Bta~ler' rs a
Moderate ~rleanre ~-Iouselro~d, and whether the Property is being transfer'r'ed to sircl~ Bayer at an
Affordable Housing fast, rf the Agency is unable to ver"ify the Brryer''s incorrle as prodded
herein prior+ to the pr+opased sale, then the Buyer''s lllcorne shall be deemed to exceed tixe
nlaxirrrurn alla~~rable ~rrCOrlle limit far' Bligible Per'ans and Parnrlre~
means the rty of Sarlta Ana, allfarnra, allforn~a rnur]1Clpal CQI'par'atlaZl,ond
the pity's sttccesso~'s arld assigns,
"C'~u~~~,~" mear~s the ~arrnty of Orange, alifornia~
of ~~~is ~esf~~i~fr'o~r" rrreans the date err the first para~~aph afthis Restriction,
fc~~~~~"means the failure of a party to pet~form any action or covetla~nt required b~~ this
Restrrctrarl wrtllrrr the trine per"iods pt"aided herein f
alla~~in notice and oppar~t~nity to care,
Tlie ter;rn default also includes atr ~~~ne~+ship Default end a Iaixltenarlce Default as snore firlly
defined grid descr4ibed herein, ~ot~~~ithstanding the far{egoirl far purposes ofacceleratran of the
Home~brxyer"Assistance Lawn, or• initiation of far'eclosure proceedings there shall be a distirlctian
E~PIIBIT` D-2 'p~ A~'TAIENT ND~ 11
Affar'dable PIousit~g Resale Restriction
D~C~~~l~ ~~~73c'13~24~~7~-OUO ~
bet~~eeri tine types of default her~ur~de~", inclu~in~g an "O~~neYi~ip ~efanlt~' arl~ a "~~ix~tet~ance
Defai~rt~" Tile ter~~~ "~~~Triet~silip Defairlt" niean the failure ~f Horne~~~er to per"fatrn ~n~r act~ot~
or co~enat~t req~rired b~ the ~ffardable Hot~sir~ Resale Restr4ictio~ 'elated to o~~vnersl~ip, o~~ner'-
aee«pa~le~, lien pr"iari#~, and restrictiaris ail sale at~d resale of tale Pr'opert~ suh~ect to the ot~ce
and opparturiity to c~~re pro~istans set fai~tl~ he~•ein, ~ defa~~lt of ar~~ ol~ligatiori secured by the
~`irst lien small be a cross~defaul~ acid also constitute ari ~~vr~ersl~ip Default. Tl~e term
"~ai~lter~arice Defa~llt" r~~earis the failure of Haniebu~er to pcr'fai~ni ariy action or" ca~eria~it
required by Restriction relating to a "M.ainter~at~ce ref
~eien~y," i~ci~~din tt~e ong~~ng trpk~ep,
maintenarice, and arse of file Proper't~ its decent, safe, sanitary, clean, and ~~eil~bar~~ rilaririer•,
subject to the notice and appart~rriit~ to cute pra~~isiaris set for~l~ her}errs ~arid e~p~'essly e~cludirrg
ari O~~riersl~ip ~]efault},
else nlearl ~ ~ ~ ~ : ~ : : ~ ~ ~ ~ ~ ~ ' ~ ~ ~ ~ : ~ ~ ~ ~ ~ ~ ,
"~'ir'sf ~r'~~" ~neat~s file lren of file ~t~stitutrari rilakrr~ tl~e purchase rnorie~r ~nartage laari
to ~~or~leb~~~er far the purchase oftl~e Property,
"o~~r~~,~~~r;" mearis the persor~ or persor~s set fai"tli iri file fig"st paragraph of ti~is
Restz4iction, and their s~rccessors grit. assir~s,
i
;`.~~~rr~ ~esc~~i~~~~orr" ~nearis file fear descriptiari of the Property ~~h~cii is attac~ied hereto
as Attaclirne~~# ~o. t and incur"pox"ated herein,
"U~~1'f~f~ ~~1CO~ie" and ".D~~l'f~~ ~'i~co~t~~ .~ID~#Se~1U~~~S" rileans moderate incorne
liousel~olds as defiried in Health afet~ bode ectian 503 f
rc~Df~CL 0~~~~~~~t ~D ~~'l~~~S~L'1~~~ rilearis tl~e otlee ~rltent to ~'~'ansfel' attached ~~1'~to
Attachz~~e~~# ~a. 2 grid iricorpo~•ated hereiri by r'efercr~c~,
"~el~~fx~~~f~ ~~~r~~tsfet'" rnearis and Trarisfer ~~li~cl~ is perinitte~i p~u~s~rant to ectiori ~
hereof.
"~'~to~ri~ii~ec~ ~"~'crrrsf~~~" means ariy Traris~`er ~~hicri is riot per~~r~itted purs~rarit to section ~
het"eaf,
~~~1'0~~~'~~~~# nl~~t~ that Cdr"~~ln 1'~~~ pr'0~]~t'~~ 10~~~~~ ~t ~~7~ ~~r"~f a~~~'~~ ~t ~~r'th lr~
Recital ~ and leail~ descried Sri the Legal Decr"~ptian,
~`.~~~r~cl~c~se A~'~e~xre~rf" trrearis that cer'#ain ar'eernerit p~~rs~~ant to ~~l~ich Hornel~~~~rer leas
agreed. to pur"chase the Pr"apert~~ frorri tl~e De~e~aper,
".~ei~~~br~~'se~~~e~~~ .~~`eer~~efx~}' ri~eans the Rerrnbursemer~t 1~~•eerrient to be executed b~
Harilebu~rer iri fa~ar' of the ~gex~c~, its the farm attached liei'eta as Attacl~trrerit ~o, ~ and
incorporated herein.
~`~~c~~~e~~ ~p~~'o~c~~ off' ~~'o~ose~~ ~'~~ar~s,
f~j~~e" metes the Request far" Appror~ai of
Pr"aPased T~ia~~sfe~'ee attacled i~ereto as At~aciirnent ~o~ ~ and incatpar•ated k~~+ein.
~HIBI~' ~-3 T~ ~TACHME~~' ~0, l ~
Affordable Housing Resale Restr'ictian ~
DO~s0~11 ~~~~7~~] 31~~~2'~2-~~~ ~
~`.~~~r~esf vt~ ~V'otr'c" kl~~at~s file F~egl~est for Notice of Defa~~lt attached l~er'eto as
At#achn~ent ~o, a~~d irrcarporated herein,
"~Re~tt~ic~ro~~~' means this Affar'dable Housing Resale Restriction.
"Sa~es~~#r'c" ~eat~s the s~~rr7 to be paid by a Transferee for tl~e T~'at~sfer' aftl7e Propet~ty,
"~'i~a~~s,
f~~" shill rnea~~ a~~~ gale, a~sit~r~~rrt~ ~onve~i~ce, lease or' tra~s~ez~, ~alur~#ar~ ar~
involuntary, of any interest in tine Pr'oper~ty. ~tl~aut lrrnrtl~i tl~e ge~~exali#~ of the for'egoi~rg,
Transfer shall irlcl~~de ~i~ a ~rat~sfer ~y devise, inheritat~ce ar' intestacy to a party ~vho daes not
~~eet the ~e~~~lt~on of a 11~aderate 7rlcon~o Househald; ~ii~ a life estate; (iii} creatiot~ of a joit~t
tei~ar~cy interests Div} ~ gib of all ar' any portion of the Pr'aper~ty; a~' at~y ~alur~taty eorrveya~xce
of tl~e Prope~'ty. Transfer shall ~~ot include tratrsfer' to ~ spouse In ~ dissol~~tlor~ proceeding.
"7"r,u~~s,
fet~ee" shill rn~at~ ~n~ ~~~tur~al pecan or ~l~tlty ~~l~a ahtairrs a~vne~'sl~ii~ ar'
possessory r'rlrt ~~1 P~'opet"#~ purs~~arrt to a T~•~~sfer.
Rest~•ic#iorls o~z aie of Pl•opet~~r, Hotnehuyer cove~rants az~d agrees that dur'it~g
the Affo~'dabili#~ Per'iad, eaci~ s~~bsequer~t resale of tl~ Proper#~ by the then-o~~ner thereof shall
be to a Nloder'at ~t~cot~e Household at an Affordable I~o~~sing host; provided, lro~~eve~~, that
~on~ehuyer~ i~~ Ilot~leb~ryer's sole discretion, tray elect #a tra~rsfer the Property at a price in
excess of ate Affordable dousing ash d~~ritrg the Affordability Period thereby causing ate
acceleration ~zndr ~ctia~l i ~f, of the A~~een~ent, i~r cot~slderation for' Ha~neo~vnet•'s payment to
Agency of
tixe ontit~ent ~quif~ Pa~~ticipatiarr amount a~ yet fat•#ll irr ectiatr o~ the
Agk'~~1~1~I1t. i
~ome~uyc~~'s Repi~e~ez~tafioris alid 'aiir•alities as to fhe dale of size ~~#o~~erty
to ~o~nbliyer, ~Ior~reb~~ye~~ ~'epreselrts and ~arr'ax~ts to Agency that tl~e ~nat~cial acid other
ir~foi'n~atio~t ~~vhich Hoi~lebuyer has provided to Agency ~~rith respect to Plonrebuyer's incoxrke ar~d
the purchase p~'ice of the Property eras true and cai'rect at the time such i~rfor~~nation eras
provided, and rernairrs t~'ue and corriect as of the Date of this Restriction,
Pertiri~~e~~ dales of #l~e Pi#aperf, Agency hereby peririit sales ofthe Pi'aperty to
proposed Trairsferees ~vha are Moderate incorr~e Haiisellolds, at~d are appr'aved iii acco~'dance
ltl~ this ectioir p~'ovided the dales Price does loot exceed ail Affordable Housing host to such
proposed Transferee ~"peri~~itted Transfers"~, in the event that Hoine~u~fer desit+es to Transfer'
fire Property during the Affordability Period, pr'ior' to the T~'at~sfer~ the o~virer shall ~~otify Agency
by delivering a ~o~ice of Intent to Transfer to Agency, ~vlrich slrail indicate fhe ideirtity of #l~e
proposed Tr'ansfer'ee v~l~o desires to p~irchase tl~e Proper*#y~ ~hetlier file pur'chaser' is a Moderate
Income Ho~~sel~old, and ~vhetlier the sales price is at aid Affordable Housing ost~ lid addition to
Haineb~~yer's and the pi•apased Transfer'ee's delivery of the Notice of Irlterrt to Ti'ai~sfer•, t~~e
following procedure shall apply:
Notice #o Agcrrcy. Harriebuyer shall send the Notice of intent to Transfer
to Agency at the a~ldi'ess set forth in Section 2~,
ualifica#iol~ of Proposed Trai~sfei~ee, The proposed Transferee shall
provide Agency ~v~tl~ sufficient ii~fort~ation in the forin provided by Agency incl~~~liilg ~vlthotit
~~PIIBIT D-4 T ATTA.~HMENT N~. l l
A~'fordable Housing Resale Restriction
DDCS~C11 ~0~?3~F 1312~~~?~-ODD ~
limitation, ~ cert~ficatlon as to the ~r~con~e and fatnrly srze of the proposed Transferee, for
Agerrey to determine if tl~e proposed Transferee is a Moderate Incorne Ha~~sehald, and the
p~~rchase price is at an ~ffardabie Housing host,
e. ~~~~ti~~cate~ f~~om Par•t~es~ Hotnebuyer and proposed Transferee each
shall certrfy rn writing, ixa a form acceptable to Agency, that the Transfer shall be closed in
accordance ~~rith, and only ~vitlr, the ter•~ns of tl~e sales contract acrd other dau~nents s~~b~nitted to
at~d apprn~e~i by Agency at~d that all cor~sider;atiar~ delivered b~ the proposed Tra~rsferee to
a~~ner llas been firll~ disclosed to Agency Tl~e ~vritterr certificate shall also i~~clude a provisia~r
that in the eve~~t a Transfer rs made rn vlolatton of tl~e tetras of this Restrictiat~ or false or
~r~lslead~I~g s~aternerlts are made In any dacunlents or cet•tlf~icate srlbtnltted to Agency far` its
approval oftl~e Tt+at~sfe~;, Agency shall have tl~e right to file an action at la~~ ar ire equity to tnal~e
the parties ter~r~ii~ate andlor rescltrd the sales cat~tract arrd~or declare the sale void
l~at~~~lthstandirig the fact that tl~e Transfer may l~a~e clas~cl a~ld became firral as bet~~een
Harr~eb~~yer a~~d Transfcree~
t}~ ritteti orlsetl~ of ,~~ericy ~equll`e~i Before Tr•ansfcr, During the
Affardabllity Period, tine Prope~•ty, and any interest therei~~, shall ~~ot be carrveyed by any
Transfer except with the expzess written canserrt afAgetrcy, ~~~~ii~ cot~set~t shall be given only if
the Tra~~sfer is 1Il accordance ~vitl~ the provisiat~s of this Restriction, This p~'ovisiot~ shall ~~ot
pralribrt the encr~mbel'in of title for` the sale pr~rpose of securing ~rra~rcing of the purchase price
ofthe Property
e, I~ot~ce of Prahil~ite~} Transfer, itlrir~ twenty ~~a~ days after receiving
rratifieatia~~ of a proposed Transfer in accordance with ectian 4,, Aelrcy shall determine and
give trotice to Hotnebuyer as to v~lretl~er tl~e proposed Transfer` rs a >~errnitted Trat~sfe~i ar
Prohibited Tra~rsfei•, or ~vhetl~er the Transfer ~~a~zld ca~~se ate acceleration of the dote utrder
section I,f, of the Agreex~xe~~t at~d, in ~~l~iclr case, E~pon Ho~neb~~ye~~'s payn.~ent of the antingerrt
1~~uity Pa~~ticipation Arnourrt as set fa~•tli in ectia~l ~ of the Areernetrt ~~cl~ T~•ansfet• ~valrld be
deemed a I'ermttted Transfer hereunder }~a the event that the proposed Transfer is a Prohibited
Transfer, such tratice to Hon~ebuyer shall specify tl~e ~~atu~+e of tie Prohibited Transfer, If tl~e
violation is riot corrected to the satisfaction of Agency ~~iti~i~a tet~ ~ 1 a} days after the date of the
r~atice, o~• ~vitl~in such further tit~~e as ~ge~lcy determines is necessary to correct file violation,
Agetrcy tnay declare a Default under this Restriction. Upon the declaratiotr of a Defa~~lt,l~ency
inay apply to a ca~zrt of competent ~r~rrsdretrorr for specific peaifot•~r~ance of this Restrrctrorr, for air
inrrnction prohibiting a pr+opased sale or' Transfer its vialatior~ of this Restrictiarr, far• a
decla~•atio~~ that tl~e Prohibited Transfe~• i void, ar far a~~y such atlrer relief as may be
appropriate,
f, De}i~Te~~ of Dnculrlerr~~ upon the close of the proposed Transfer,
Hornebuye~~ a~~d Transferee, as applicable, shall provide the Agency ~~ltlr a copy ofti~e final sales
contract, settlement statement, escrow ltrstr~~etions, all certificates required by this ectiox~ 4 at~d
any other dacumer~ts Agency ~r~ay request.
HIBIT D-5 TD ATTAHM~NT 11
Affordable Housing Resale Restrictiar~
~O~s~11 ~~~673~T~ 31~~~~~2-~~~1
~rrcirn~bra~rces,
irbori~lllr~~IOII, P~xcept as provided otherwise herein, the pro~isians of
the Loan Agreerrrent, this ~estrictian, fire Notice of Affardabi~ity I~estrictiarrs and tl~e Agency
deed afTr~~st and ~.ider, the obligations herein and therein, shall be subordltrate only to the P~rst
Lien on the Praper•t~r and, if applicable, other l~an~s~ as approved by the Plxecutive I)ir•ectar,
~~rcluding Derr ~nstrut~rents that secure others Plorneb~zyet~ purchase money at~dlor ~lo~vrrpay~nent
assistance, i~rcluding ~vithaut limitation pity, Mate of ali~ort~ia, ar feder'al affordable hausi~rg
pr'agratns, which liens shall ~1at impair the rights render the ~"irst Lren itl the event of default
under the First Lien by I-lo~rrel~~~yex`~ such remedies t~t~der the Ii trst Liex~ include the right o~
fareclosr~re ar' accepta~rce of a deed or asslgtrnret~t in lieu of f
oreclosr~re. I~ title to the Pxo~er~t~ is
transferred by fo~'eclasure ar• acceptatrce of a deed in lieu of I`ar•eelosu~•e, or assignment of the
first Lien to fire ecretar'y of the Departt~rerrt of Housi~~g and I~r'ba~r I~evelopx~rent, the Laa~r
Agrec~~rent, this Restrictiotr, and Age~rcy Deed of Tr~~st si~all be autarnatically te~•rninated and
shall Irave too further' effect as to the Property at• a~~y Trar~sferee tirer'eafter, Ha~vever, in Ala event
shall the Loan Agreement, fire Ae~rcy Deed of Trust, acrd this Affot'dable Hauling resale
I~estrictian, be s~zbordit~a~te to airy First Lien arr the Prape~~ty securi~r a loan ~vitl~ provrsrons
which allow negative atnortizatiotr, ar to ~'efitratrcrrrg of fire lietr of the I~'rrst Lien far a laarr
a~nau~rt in excess of the s~~rn of tl~e then current loan balance sec~~red b~ tl~e Flr'st Lrerr atld laatr
closlrrg costs
b. I~egrrest for notice of efaul~, Age~rcy trray cause a eq~~est for Notice
to be recorded ail the Property subseq~re~rt to the rccordatiot~ of the First Lien deed of trr~st ar'
mortgage ~'egr~estin a statrztox'y notice of defar~lt as set fartlr ilr tali-~a~~nia i~il fade ectiaxr
~~~4b. A l~o~•rn of a Request fay' Notice is attached Irereto as Attaclrtne~~t No. 3 acrd incorporated
herein,
c, I~'ux~~her I~~rc~€mh~~a~zccs. Ho~neb~~~~er a~'ees that it shall not a'ecord ar
cause tine ~'ecordatiarr of airy deed of trust ~"Purtl~er ~~~cunrbrance"} sec~~ring a ~~ate lravitr an
origi~ral pr+ir~cipal sum ~~~hich~ i~et~ added. to the s~atn of the pri~rcipal amounf~s} of a~l~ Crates
secured by a~iy deeds of trust agaitrst the Ptoper'ty as of the date of recor•datiotr of tl~e Further
~t~cutnbrance, exceeds one hundred. perce~~t ~ 1 as°I~} of the fait• ~~~a~~ket val~~e of the P~•operty.
eirr~b~~rserYrerrt Ag~'eer~ren~, l~a~nebr~yer• acrd Agency shall enter into a
Reimbur'se~nent Agreement, s~~bstantially in the farm attached hereto as A.ttacl~trrent No, ~ arrd
i~rcorporated herein, v~irich provides that Agency rrray snake payrrre~rts to rare defar~lt or
delinquency on the First Lie~~, ors the condition that Hamebuyet' agrees to rei~rrb~~rse Agency for
arly pay~rre~rts made to cure a default or delinquency oar tl~e First Lien, Ho~x~ebuyer's repayrne~rt
obligations p~~rst~ant to the Rermb~~rsen~ent Areerrre~rt shall be secured by a s~~bozdit~ate deed of
trr~st which errc~~tnbers the Pr•oper•ty, lr~ the e~e~it tllat Ha~r~ebuyer refinances floe First Lien,
Hornebt~~eai and Age~rcy shall exater itrto an atrrend~~rent to the l~einrbu~'se~ncnt Agr'eemetrt or• a
tre~v Reitbursement Agreement. The Tr•arrsfer'ee of tl~e Pr~o~~erty and Agency shall also enter
into a ne~v Rermb~~rsernent Agreement upon tl~e Transfer of the Property. Agency shall execute
such st~bordinatiarr agreements as may be reasonably requested by the laolderi of a I~ first Lien,
7, ~s~s, Hor~ebE~yer cavex~ants atld agrees to devote, use and rnainta~n tl~e Pr+aperty
!n accar•da~lce ~vrtlr ~~~ls I~estr'lctlarl, rises conducted on the Property, 1~1Cluding, ~v~thout
HIBIT I~-~ ATTA~H~I~NT N~, l l
Affordable I-lousing Resale Restrictio~r
D~CSO~Il~00C7~~F131~~~~72-00~~ E
Ilt~rta#IOrr, actl~'ltres ~~ndertakerr by 1~or~ebuyer pursuant to this Restr4ictiot~, shall confoa~m to
all applicable pt~o~isiarrs of the Santa Ana ut~ieipal bode, and the recorded doc~rments
per•tainitrg to arrd runtring ~vitlt the pr'oper•t~,
~or~discrlnlllla~t0~~ o~erlarr~s, ~on~ebuyer ca~e~~an#s by and far i#self, its
s~tccessors and assig~~s, a~~d all persons clarrnrng under ar through them that #lrere shall be na
discrrr~rnatron aai~~s# ar segregatiorr af, airy person or gr'o~tp of persans orr accou~~t of any basis
l~s#ed subdr~rsion ~a~ or ~d} of ectiarr 12955 of tl~e o~ern~~et~t fade, as #lxose bases are
~efine~ in ect~ans 1 l 292,1, subdi~lstoi~ gym} arrd par`agr'aph ~ of subdrvrsron ~p~ of
section 12955, and ectiot~ 12955.2 of tl~e o~ernmer~t bode, in the sale, lease, sublease,
tra~rsfer, lase, accupanc~, tenure, or en~oyl~ent of tl~e premises Iler•ei~~ co~~veyed, ~lo~• shall the
grantee ar any person clair~i~rg l~t~der ~r tlu•o~~gl~ him ar• her, establish ar permit a~~y practice or
practices of
disc~~in~ination ar setiatian it~~ r•efe~`ence to the se~eetion, loeatian, r~~rn~ber', ~tse
or accupancy of tenants, lessees, subte~rants, s~~b~essees, or• ~endees in the premises lier•ein
conveyed, The faregoing co~Tenan#s sl~ail rrrn ~~itli the land. All deeds, leases ar cont~~acts
r`elatrn to tl~e Pl'aper'ty, or any part thereof, shall contai~~ or' be subject #o substari#ially the
follo~~ing clan-discaiitr~ir~ation or ton«e€'ea#ton causes:
~a} 1n deeds, "TI~e gra~r~tee ller'ein eo~er~ants by and far 1~rrYlself or herself, Iris
or leer heirs, exect~#ors, administra#ors, and assig~rs, a~~d all persons clair~rin ur~de~i or
tl7ro~~gh tl~eln, that tlrere shall be r~o discrirninatior~ against ar' segregatian af, arry pex~san
or gro~rp of persons ors account of any basis listed in s~tbdi~ision ~a~ or ~d} of section
I255 of tl~e o~ernt~erit bode, as tlrose lases are defitred in ectians 1292, I2926, 1,
subdi~isian ~r~~ and paragraplr of subdi~isiotr ~p~ of sec#ion 12955, atr~ ectiot~
12955.2 of the o~ernt~erY# bode, in tl~e sale, Tease, sirble~se, tr'at~sfer~ t~se, ace~~paney,
tenure, or en
joyl~ent of the pret~ises l~er'ei~~ ean~eyed, r~or• shall tl~e gra~~#ee or ar~~ pe~'san
claiming under or througlr ~xin~ or her, establish or perrnit and practice or practices of
discr~mtnatron or segregation ~~ritb ~`eference to tl~e selection, location, n~~rnber, use on
occupancy of tenants, lessees, subtenants, sublessees, or vendees ire the premises ~~erein
conveyed, Tl~e forcoir~g cover~atits s1~all r~ut~ ~~itl~ the land."
fib} 1t~ leases; "The lessee ller'eir~ covenants by at~d for l~irr~self or her`sclf, Iris
or l~ez~ heir's, exec~~#o~`s, adr~iriistrators, aril assig~~s, and all persoias clairrrirr ~rrrder or'
ilrrougl~ l~i~~ or leer, and this Tease is ~r~ade and accepted l~pan and s~~bject to the following
co~~ditior~s; "That there shall be rya discrirnix~ation agairrst or seg~`egatiarr of any persan ar`
grol~p ofpersons, an accou~rt afany basis listed in subdi~isior~ ~a} or ~d~ of
fee#ian 12955
of the o~ernrrrerrt bode, as #lrose bases are de~~~ed irr ectior~s I292~, 1292,1,
s~~bdi~ision ~r~ and pa1`araph ~1 ~ subdlvlsrorr gyp} of ectrarr 12955, and ectiot~
12955,2 o~'the a~erntrlet~t fade, irr tl~e Iesi~~, subleasing, tra~~sferr'itrg, use, occarpatrcy,
ten~zt+e, ar' cn~oyrnetlt of the pre~~.ises herein leased nor shall il~e lessee himself or' herself,
ar' and person clairrrin under' or through llrrn ar• her, establish or permi# at~y suclr practice
or practices of discr•irnitratian ar ser'eation ~~ith r'efer'ence to the selection, lacatiotr,
nrrmber•, use, o~' occupancy, of tenants, lessees, sublessees, s~~b#ex~a~~is, ar ~endees in the
pr•erlrises her'eirr leased."
~c~ ~n caniracis~ "Tl~er'e shall be no discr•rrnrrrat~on against or segt~egatian of,
and person or' romp of persons on account of arr~ basis listed in s~~bdl~lslon ~a~ or ~d} of
EIB7T D~7 T~ ATTA~~IENT ~i~, l l
Affordable pausing Resale Restrlctlon
~DC50C~~~~~~73v~ 31~~~~7~-~~0 ~
ectiorr 12~~5 of the o~vert~t~ent bode, as those bases are defined itr Sections ~~~2~,
1~9~,, s~tbdivisio~ ~rrr~ and parag~•aplr ~1} of s~~bdi~isiari gyp} of Section 1~~, arrd
Section 1 ~955,~ of the Co~ernment ode in the sale, lease, sl~blease, transfer, ~~se,
acc~tpancy, tenure, or errjoyment of the pr•er~.ises ~~hich ar•e the s~tb~ect of tlris Ar•eerrrent,
rror shall the grantee or at~y persorr clainring under• or thto~~h hitrr or• hers, establish or
Perrrrit any practice or• practices of discrimination or• serea.tion with reference to tl~
selection, locations, z~uinber, rise or occupancy of te~rarrts, lessees, suhterratrts, sublessees,
or• ~endees its ~lre pr•etnises herein corr~e~ed, The foregoitr co~et~ants shall r~tn with the
land."
The co~et~an~s establisl~cd in this Section 8 shall, without regard to technical
classt~catiorr acrd designatio~r, be binding for the be~re~t acrd in fa~ot• of Age~~cy and its
s~tccessors and assig~rs, at~d shall re~rraltr In effect its perpetuity,
9~ a1~~tellallCe o~ Pt•ape~~~, Honlebr~yer• slrall t~tait~tin the irnpror~etnent and
landscaping on the ~'t•operty in a r~ar~trer corrsiste~rt ~~itl~ corntnurrity sta~rdards ~uhiclr ~~ill uplrold
the value of the Propet'ty, in accorda~~ce ~ttl~ the Sairta At~a ~u~ricrpal ode ~on~ebuyer also
agrees to comply ~~itli alI applicable federal, state and local la~vs~
a~ ~xfer~or ~ainteriaiYCe, Except as to be maintained by the lrotneo~vtret•s
association, as applicable, all exterior, paitrted surfaces of any structures located ot~ tl~e Property
shall he maintained at all titres irr a clean acrd good co~rditiot~. Any defacing harks shall be
cle~rcd or t'emo~ed ~~rtlritr a t•easonable period of time.
Fl•ant ~~lf~ 1{~~ ~xt~~ro~•s, Except as to be ttraintained by the
l~omea~~rrers association, a applicable, orneb~tyer shall at all titrres maintain the fro~rt exteriot~,
any risible side exterioz~s, acrd yards, if any, in a clean, safe a~~d presentable tr~atrner~
c, Gra~~i Rel~~o~ra~~ All graffiti and defacemetrt of airy type, it~clr~din bE~t
trot limited to marls, words acrd pictures, slrall be promptly rerno~ed ft•om tl~e Property ~~rithin
t~~o ~2~ days of tl~e tirr~e tlrey ~t~ere made and atr~ Necessary palntrtrg or repair completed in
timely and expeditious tr~at~t~er after ~rotice thereof, lriclre~er is less.
~a Nllisax~ce, ~orneb~tyer slrall not r~aiNtain, cause to be rnaii~tained, or
allow to be maintained orl or abaut the Property airy p~zblic or private rr~tisance, including ~~itlrout
limitation, the cotrd~tct of criminal activities set for•tlr irr the t~uisarrce abatetrtent provisions of the
C~nifortrt o~trolled Substances Act ~~-~ealtlr Safety bode ectians 1157a, e~ sec~~} or• tl~e street
Ter•rot•istn Enforcement acrd Pt'e~ention Act ~~et~al bode Sections 18~,2~ e~ sec~~~, or any
srrccessor• statute or lam,
~U~ ~ccuparle~t Sfax~dards, Tire ~'roperty shall be used as the prrtrclpal persor~al
residence of ~IoN~ebuyer and ~on~ehuyer's rrrrtrredtate fatrrrlyllrouselrold and for• rro otlrer
purpose, ~orrrebuyelk shall Trot enter iNto an agreernetrt for the rental or lease of all or any part of
the Proper•ty~ I~onrebtryer• lrall trot rent out a room or' r•aarrrs at the ~'tope~•ty, ~-Iornebttyet4 may
regttest a teN~porary ~~aiver• of tl~e foregoirrg rec~uit~etrerrt in the eveNt of extreme has;dship
requir•i~n ~ornebuyer• to mope to arrotl~er geograplrtcal area or to Tess expeNSi~e lrousing,
i~~ci~tdit~, for exarrrple a~~d ~~ithout limitation, transfers of job location, loss of job, ot• unexpected
E~IBtT D-S TD ATTAHE~T N~, ~ ~
Af~'ordabie dousing resale restriction
DoCS~11 ~0~673~rt ~12~~272-~~~~
rrE
I
major experrses, Age~rcy may approve or disappa•o~e such recl~zest in its sole disc~•etio~r, acrd may
rcgt~i~•e as a co~rdrtlot~ of approval that Honreb€ryer only r"ent the I'~•oper•ty to ~iiible o~er~ate
Ir~came Housel~olds at air affordable r"ent has defined in ectian 5~a~~ aftlre alior"nia Hcalth ~
Safety ode~~ Age~~ey acknowledges that the oceuparrcy standa~•d is occ~~pancy by t~~a
persons per li~i~r and sleeping area, Hornebrryer slrall, upon derna~rd by Agency, subrnit to
Agency arr affidavit ofoccupanc~ ~~erifying Ho~ebu~er"'s cor~~pliance ~~i~h this ectiar~ I0, ~cir
affidavit ~r~ay be r"eq~~ire~ ~y Aenc~f an an annual leis.
~ ~ ~f~cCt 0~ ~io~a#1oll of file ~'e~`lYis c~Ild P~'o~isio~rs of tali ~esfrictlan,
a~ ~zz etie~~aif Tl~e co~enarrts established in tlris Restriction sirall, witlraut
regard to tecl~r~ical classificatiotr and desigtration, be bi~rdirrg for ~lre benefit and in fa~ar of
Aetley, its s~~~cessors and assigns, as to tlrose coverra~rts wi~ich ar"e for its benefit. Fire
co~etrat~ts cantattred qtr this Restr•ictiotr sl~all r+ernarrr ~t~ effect f~r• the pc~~iods of time peci~~d
herein, The co~erra~rts agaii~st discr•irnitratiot~ shall remaix~ iii effect irr perpetuity, Agency is
deemed the beneficiar"y of the terms and pr"o~iior~ a~' this Rest~~ictiar~ atrci of the ca~errants
~iunt~in ~~~itlr the land, far and in its own rights acrd for the p~~rposes ofprotectirrg the interests of
the co~~rrr~u~~ity acrd otlrer ~a~"fies, p~~biic o~~ private, i~r ~~hase fa~ar" acrd whose benefit this
Res~r"fiction at~d the c~~etrants rur~ni~rg ~~itl~ the iar~d ir.~e been ~ra~~i~e~~ ~'~i Restr"letlarr a~~d
tl~e co~errarrts lret•ei n shall ru~r i n favor of Agency, without regard to whether Ae~~c leas beer,
remains or is atr owner of any land or infer"est ti7c~•eir~ i~l the ~r~ope~~ty ar" in the Pra~ect Area,
Age~rcy si~all have the right if the Restriction or co~ena~~ts are breaclred, to exercise all rigl~ts
and remedies, acrd to rnait~tait~ any actiotrs oxi suits at law o~~ in. equity ar• othe~• proper• pr"oceedizags
to etr'ar"ee the c~rz~i~r of such baieaelres to ~~hielr it or any atirer• beneficiaries of this I~estrietian
and cove~ra~rts tnay be entrtied,
b, Accel~~~tia~r. 'the whaie of the dote Arrro~znt has defined in
ectiotr 1,2,b. of the loan Agreement} and all atlrer• pay~nents d~~e ~~~rde~~ the Horneb~~yeai
Assistance Loan shall becorne due acrd immediately payable to Agency by Horneb~~yer upon the
occl~rrence of
atr~ one of the follo~~ir~ everts of accele~~atiorr;
(i~ Horrrebuyer, i~~ Hornebuyer•'s sale discretio~r, elects t~ transfer the
Property f
o~~ a pr"ice I~1 excess of a~ Affordable Hol~si~~ host, ar~d T~•ansfcrs the 1'~~operty;
~ii~ Homebuyer" makes a Prohibited `~~iansfer of title to o~i any interest
in the I'~•oper"t}~ i~r ~iolatio~~ of tlris Restr•ietian;
viii} Harnebtlyer" refina~~ces airy lien or e~rcumbra~rce to whiclr Agency
Deed ~f Tr~~st is sr~bor"dlr]ate ~eael~ such Berl, a "Fi~•st ~,ie~r"} for a laa~~ anrat~~rt in excess a~' the
then current iaarr balance sec~~red by s~~ch lien or enc~~r~rbr+ance and loatr closing casts;
~i~} Homebuyer" fails to occupy the Prope~•ty as Horrrebuyer's prr~rcipal
~'eslde~rce p~~t•sl~ant to ectlorr ~ ~Oa~r Agreenretrt ar' r~~ Default Df arly athc~' obl~atrorr
~~nder the f,oan Agreeme~~t;
Hotnebuyer lras a~n Ow~~erslrip Defar~lt vralatitrg any affard.able
lrousitrg ter"rns ar pro~isiarrs of tlris l~est~•ictio~r,
~HIBIT D-9 TD ATTAH~~T ~D,11
Affet"dable Housing Resale Restriction €
DOCS~~I l ~~~6~`3v131~~~~?~-0~~1
~ar~dslrip, At the req~~est of Hameb~zyeti, a~~d far' a specific accasior~, Agency
n~a~, in its sale at~d absal~~te discretion, ix~ ~~rrtrrr ~varve the requirements of ectiarr 11,
s~rbparagrapil ~h~ arrd defer repayment a~~dlar extend the terra of tl~e date, Any ~~ai~er ar
deferrnerlt shall be on ~ ease«~~-case basis, and rla future x~igi~ts far' 4~ai~e~i or deferment si~all
arise or be i~~rplied, at4~ithstaridit~g the foregoing, Horneb~ryer' rnay, r~pan ~~~ri#ten approval by
Agency, r'efinat~ce arty Past Lien ~~lth a fixed rate loan for a loan ar~lou~~t equal to ar less than tine
tlren c~lrrent laari balance secured by such First Lien with rla reduction ire term,
1~, o1r#irlerl~ equity Par4#ic~pa#iarY Anlour~#, In tl~e e~e~~t ti~at the ~.otrrebuyer
Assistance Laarr becomes due acid payable pl~rsuant to Section 11{h~ above, Horrlebtlyer• si~aii
pay to A.enc~~ fire ~~rhole of fire l~or~~ebu~rer• Assistance Loan ar~d the "Corrtit~ent Eq~rity
Participtlorl Atrrourrt," as lre~'ei~~af~er defi~red.
~a~ alculattor~ of ali~irrgex~~ Equit~t ~ax•~icipa~iotl Alnolrr~#, The
"Contingent equity Pat;ticrpatforr A~t]ourrt" rnea~~s ate arr~aurit egt~ai to a percentage share of file
appr'ecratlaz~ of tl~e Pr'ope~•ty deter"rnirred by r~ultiplyir~g a ~ar~iable perce~~tae factor• ~"'~a1•iable
Applicable Factor"~ b}r the difference bet~~~een fire Sales Px~ice and the Pu~•chase Price has tease
ter'~ns a~•e hereilla~e~• defined}.
fib} ~ar~iable Applicable Fac~or~ Calcrrta~iorl, ~'he variable Applicable
Factor slrali be calculated by di~idirrg fire Agency's fatal it~itia~ eclrrity cont~~ibutiar~ based ors sale
of tine Froper•ty to Hanrebuyetk at art Affo~•dablc Housing Cost ~"Agency Contt4ibutian"} by ttae
sure of file Aetrcy Cor~tr~lbutior~ plus Horrreb~~ye~~'s cantr~ibutio~a {"Homebuyer4 Co~~trihrrtion"~,
In oti~er~ ~~ards, tl~e Agency Corlt~•ibutian shall be the rrurnerator•, a~ad fire surrr of the Agency
Corrtrib«tion plr~s tine ~a~r~ebt~yer Cor~tr~b~~tion slrall be tl~ denarninator• of a fraction tirat eq~~als
a percentage teat is the ~1a~•iable Applicable Factor' ~s~l~b~ect to ectiorr ~l 3~b}~i}},
~'~ri~ble Ap~licabl~ ~+ac#or= A ~Ilc C~~rtrib~~tion
A~eticy ol~tx~ibutio~~ + Hameb~~s~er Co~~trib~~fion
For exatr~ple, if fire Agency Con#riibr~tion eq~zals and the ~o~r~ebrryer
Cor~tr~ib~ztion eq~ral ~S~,o~4, the variable Applicable Factor ~~ould equal la~'7°Io {0,000
divided by the sum of~0,o00 plr~ ~50,000~.
~.0~~~/0 ~'~~~i~hle Applicable i~'acto~•} - 3~ ~il~ A ei~c ~ Can~ributio~~
~0,0~~ ~~gency Col~tr~iblitio~~} ~ ~5~,~00 ~~vntel~uye~•
~o~~ti~ibutian} - ~28~,~0~}
~i~ ~~~e`Agency Cot~tr~r6utrari" is the sure of fire folla~~ing amounts
contributed by Agency to tine pur~chse pace of fire Pr'ope~-t~r; fit} principal an~or~nt of file
Harrrebt~yer• Assistance ~,oan Arnout~t, i~e., the Affo~•dable Ha~rsrrig Cost Sr~bsrdy has he~•einaf~er
l~~~lll~l`l' l]-la T~ AT~'ACI~N~N~' N~, l l
Affordable Holrsing resale l~estr•ictiorr
~4~DC1~ ~Q~6?34'~ ~i~~~27~-~~41
de~rled~; at~d ~ii~ the priricrpal a~~norrnt{~ of any athe~" laan~s~ ar` subsidy~tes} provided
Agency,
~ii~ The "Homebuyer ontk"ibutia~~" is file utn of t~~e follo~~ir~g
amounts contributed Harncb~ryer to the purchase price of the Property: {i} tl~e prrncrpal
axr~ol~t~t of file Fast Lien p~~r'cl~ase rnar~ey rnor~tgae~ {ii} Hanleb~~yer's cas~r do~~x~ payment pigs
Harnebuyer''s portia~~ closing cost; and {iii} tl~e original pr"tt~c~pl amount of loans{s~ or` ot~iet"
subsidy~tes} sec~~rcd by Hon~ebuyer, {excl~~ding at~d other than loan{} or subsidy{ies} provided
Ager~c~~ {as set forth rn the defi~a~tion of Agency ~orltribution}} and applied by Horrreb«yer
towards tl~e p~~rcl~ase of tl~e Property,
{iii} Tl~e "Purchase Price" Is tl~e or'iir~l prrrcl~se price paid by
~Iorneb~zye~" for I~arnehuyer' as tl~e qualified successor o~~~~er" of tl~e Pr+ape~•ty~ to the seller of tl~e
Property {"feller"} for Seller's interest its tl~e Pr'aperty, exclusi~re of escro4~ fees, title irisura~~ce
costs, broker's corntnissions, Ioa~l fees or` ar~y ati~er closing ar trar~actior~ costs Srrb~ect to the
pr'o~isions set foi~l~ llererrlbela, tine ~rallle of ~ualrfied ap~tal I~~~pr"o~emerrts shall be added to
the P~~rcl~ase Pr"ice when calc€~latin tlxe Contingent Equity Par't~cipatio~~ Arnarrnt,
{i~r~ The "Sales Price" ss tl~e price to be paid by the pz•aspective buyer
~~~ho is not a qualified Iade~'ate Income Housei~ald} of the Property {"~u~er"} to ~omebtryer
for I~otnebuyer as the qualified s«ccessor o~~~tler of the Pr'opert~} for Hot~~ebuyer's interest its the
Praper'ty, exclusive off' reasonable escr+o~~ fees, title insura~rcc costs, br'oker's eon~rnlslot~s, loan
fees or any atlrer` clasit~g or trar~sactio~i casts" Tl~e Sales Price shall be esta~bl~slaed its conformity
~Vrtll S~C~r~rl t3~17~~r~ l~er'eof~ Its fire event of ~otx~ebuyer"'s refinancing, failure to occupy, or
defa~~lt, tl~e "Sales Price" shall be esfablisl~ed ire conforr~~ity ~r~tli Sect~o~~ I3~i)~ir~,
Tlje "Affo~'dable Housing host S~rbs~d~" is the arnaunt dee~ned to
be a s~~bsidy that Aei~cy leas provided to Hon~ebuyer' by making tl~e Property available fart
p~~r'cl~ase at a price ~llich cal~stltutes an Affor'dablc ~a~isin host, Tire Affordable ~orrsin fast
Subsidy ec~~rals the difference between file appraised fair inar•ket value of the Property {~~l~icl~
appraisal shall be at Agency's cost} as of tl~e date of the Agrcemet~t a~~d tl~e Affordable Ho~~si~~g .
Cost.
~i} ~xcep#ia1~ ~lcula#~or~" Notwithstanding the above, tl~e variable
Applicable Factor shall eq~~al the renter of fifty percent ~5t%} oi" tl~e ~ar4iable Applicabre Factor'
calculated p~~r'suant to Section I~~b}; provided however, in the event Hornebuyer receives a First
Lien loan froin tl~e California Ha~~siii Finat~ce Agency ar a First Lien lawn tl~e source of
pi`occeds of which are froin tax exempt bands, then tl~e far"labia Applicable Factor shall equal
the variable Applicable Factor' pei`ce~~tae calculated p~~ruant to Section ~ ~~b~"
{c~ ~lll~ #~xe ~ai•la~le Appl~Ca~~e ~~C#a~~ #o ~e#ertninc #~~c o~~ti~lger~t
Eq~~xty Fax~flclpafian Aii~ollia#~ The ~antingeirt ~quit~ Participation Arno~zi~t is calc~~lated by
multiplying tl~e variable Applicable Factor by tl~e difference bet~~veen tl~e Sales Price and the
Purchase Pr'icef Far" example, if the ar'iable Applicable Factor equals 1 ~,7°Io~ the antinent
Eq~~ity Pa~~ticipation Aino~~nt ~vo~~ld Mien equal ~ a"7°I~ {far"labia Applicable Factor} x {Sales
Price m.in~~s the Purchase Price},
E~HIIT I~- ~ ~ T~ A'ITACH~VIENT NO" 1 ~
Affordable Housing Resale Rests"ictiot~
D~~D~l~ ~~DG?~4' 3~~~~~7~-0~0 ~
~ l ~
I
~n the above example, if the dales Price equals 380,~0~ and the Pul'clrase Pl'ico
equals 2~~,4~0, the Colrtlllel~t equity Pal~tlelpat~on ~11'ro~Zllt 4~ould equal ~ 0,70 0,'7°I~ x
{~S0,4D0 ~rrin~ls ~8~,000}~.
1~,7°Io {~'~~~i~~~~ ~pplic~~le FactQx~} x 1~~,~0~ (ales P~•ice~ Pur`c~~~se P~~ice~ _ ~~~,~0~ ~Co~~#i~ig~~i#
~q~iity P~rtlCipa#iot~ Amou~tt},
alc~llafroll of 'an~irlgtzt ~quit~r Par'tiCipa#ion Al~~olrl~~ far
il~legllezlt ~al~lebuy~~~s~ pur's~~alrt to Section ~ of fire ~oal~ Ar'eell~elrt, a Buyer lras fully
assulr~ed Hol~rehu~Te1`'s obligations under` tl~e Agreel~rent, fire Pl'ol~rissol'~T dote, the .~el~cy Deed
of ~'rrlst, file notice of Affar"dability Restr"ictiol~s, a~ld this Restl`1Ctloll, al~d thereafter tl~e l~e~v
B~1yer', as the s~lccessor' Hon~rel~uyel`, causes air evllt of acc~lel"atl~ll to occ~rr, the Col]tll~.gel~t
q~~ity Participatiol~ ~l~o~rnt to be paid by srlclr Buyer` small be calculated by lrrultiplylrrg the
variable applicable Factor, established in Section l~{b, by the differelice betreen the Sales
P~'ice, establisl~ed in colrforlnity with Section ~ 3~i~~, al~d tl~e P~u'clrase Price,
fie} ~o ~ppreciatiorr or~ ~]precia~~arl rn ~alrle of ~~{operi~y. If an evel~t of
acceleration occurs at a tune ~vhen fire Property leas not appreciated or the val~~e of the Propel`ty
i~as depreciated {i.e., the Sales i'~'ice is less tlral~ the Purchase Price~~ thel~ rro Cal~til~gent Fgrlity
participatiol~ ~l~ox~nt is due by Hol~~ebuyer to Agency,
{ ~lla~i~ied Capital ~zn~rl+ovel~lellts. `~lle value of any qualified Capital
~nrprove~~nents colr~pleted by Holrlebuyer during Holrlcbuyer`'s o4~nership of fire ~'lroperty slrall he
added to tl~e P~1~'cl~ase Price ~vhen calcrllatilrg fire CDl~til~ent Bquity Partlclpatiolr Alnoul~t only
if, not later` tlral~ thirty {~D} days prior to the ~v~17t of aecelera~lorr ca~~sll~ tl~e Col~trr~gelat Fqu~ty
Pal"tieipation Amoulrt to becolrle ilnmecliately due acrd payable purs~~al~t to ectiol~ ~ ~{b},
~olrrebuyer subrnlt tl~e follo~~ing to agency: {i~ alb iten~i~ed list of fire rralified Capital
~mpravelnents, {ii} reliable proof of completion of tl~e ualif~ed Capital ~mpl'ovelents {as
evidenced e,,, by final ~ullding pel'rnits, a certificate of cotnpletiorr or original paid ilavoices al'
cor~stl`~lction contracts, al~d viii} air appl'isal from . certified appraiser, in form and substance
reasol~abiy acceptable to tl~e Bxec~rtive Di~`ector, the colrclrlsian of ~hiclr is that tl~e ualif~ed
Capital ~lnproven~ents have added tl~e stated alrro~~l~t to the fair` lnal`ket value of the P1`ope~"ty,
~f, ~vitl~il~ days of receipt of
the irrfar{tnation col~cer'l~ing the Qualified capital
flrrprovelnel~ts, Agency q~~estior~s the clailr~ed iltcrease in the val~~e of the Prope~~ty by reason of
Bald uali-~ed Capital ~lrlpl'overrlelrts, Agel~cy and Hor~ebuyel' rrlay, by mutual areelrrelrt,
etablrsh the value of the uallfied Capital ~lnprovel~rel~ts or' Agency nay 1"equlre an appraisal of
fire Ar`o~e~'ty, at ~onrebu~er's expense, by a second independent cer"tified appraiser appointed by
the Agency to deter'lrrine tl~e fair lnal'~et value of the qualified Capital Ilrrproverr~ents.
credit ~v I~on~ebuyer, ~ot~vithstandil~g the foregoing pr"a~lslons of thl
Section ~ calcu.latlon the Colltlt~gent Faulty Par`tlclpatlon AmoLlnt 1 su~~J~t~t to ~ supel'~o~`
ril~t of Holr~ebuye~' to receive credit 111 calculatlor~ of the Pul'clrase Price for money paid by
H(~I~rel~uyl' post acqulsltlon and dtlr"ing the tel'rn of Horrrebuyel'~s o~vl~er'hlp of tie P1'oper`t~' ~or`
installment payl~rel~ts of tnorta.ge pl`il~cipal, pursual~t to the First Lief actually made by
B~H~BZ`p D~ 1 ~ T~ A'~'TACHE~T ~0, ~ ~
Af`for"dable Housing Resale Restriction
D~SDCI# ~~~~?3~l131Z~~27~-4~~ ~
~on~ebuyer, rn add~t~on to Fair n~rarket ~ralue of qualified ap~tal I~~rpravemerrts col~isterr#
witia fire requirerrrents of Sectiarr 1 ~ he~~eof~
~i1~ Deterrnit~atlon I~~ Slcs ~I•l~e; Appralsar,
~i} U~~on Sale of the Propert~r, ~z~ fire event of a proposed sale of t~~e
Praperty ~orxreblx~er that does not corrfarrrr to Sectiarr ~ lrereir~, and slat less than tl~irty
days aver Ael~c~ recei~res actual native of the aperrirr of escro~~r irr corr~~ectiorr tlrer'e~~itir, the
Agency may effect to apporrrt ~ certified, rndependerr~ appraise' to conduct ate appraisal of tlr~
Propel+ty, at Horrrebuya4's expense, to assist Agency in deterr~rlnrng if tie cries Price is at o~i near'
the fai~~ tr~ar~et value off` tl~e Praper•ty at sr~ci~ time, 7f file Sales Price deterrrrirred by the
appraisal to be three percent ~3°I~} ar' more belo~~ tyre fair tnar*ket ~alrle of tine Property a
estimated irr said appraisal, then tyre {gales Price" for l~urpase of deter'rrrlnrng the ont~I~ent
equity Participatiarr Atno~rnt small be the Fair n~arl~et ~alc~e of the Property established in said
appraisal.
~ii~ Uporl Refil~atlclll~~Fc~~~llx•e o Occ~Ip~~IDefar~It, irr fire event of
r'efi~aa~rci~~g, fail~~re to oecrrpy the Prope~~ty in accorda~~ce ~~itlr ectio~~ to llereaf, or default ar
breach of a~~y pra~isiorr of the Loan Ag~~eetnerrt ~~rlric~~ causes the ~ot~ti~~en~ Pq~~~ty
Participatioir A~~lourrt to beco~~~e ~t~mediately due and payable, the "ales Price" for' purposes of
determining the ont~~rel~t Equity Pa~~ticipatiarr Atnount shall be dete~~m~ned by atr appa~a~s~l of
the P~+oper'ty, Agency sl~iall appairrt a certified independent appraiser to conduc# an app~~aial of
the Property, at I~arnebuye~''s expense, ~o~r~ebuyer agrees tl~at rr~ suer e~et~t tl~e ~arrtrrrent
Eq~ri#~~ Par~ticipatian Amou~rt shall be tlre'~ar~iable Applicable Factor rnrlltiplied ley the difference
bet4~eet~ file Purcl~ae Price acrd "cries Price" as established by tl~e appr'alsed ~a~~~e of the
Property at the time ofsuclr re~rra~rci~rg, failure to occ~~py, or defa~~lt of tl~e Agreernerrt~
~i~ Hor~~ebrryer's Ac~~r~o~vlednrerrt o~ arrtirrerrt Eglltt~: Participation
AIrl0~ll1#,
HONIEI3~I~LR AI~NOwLEDOE AND AGREES THAT
UPON BALL, TRANSIt~ER OR RE~'INANIN OIt~ THE
PROPERTY THAT DOES NOT ONIPL'~ WITH SEOTION
~ HEREIN, ANDIOR UPON ANA OTIIER EVENT OI`
AOOELERA.TION A SET ~`ORTH IN SETYON
HEREOF", HOEDU~ER SHALL PAS TO AGENCY IN
ADDITION TO TkIL AEI{~N~ LOAN AIQTJNT~ A
CONTINGENT E~IT~ PARTICIPATION AMOUNT
EI~AL TO A PERCENTAGE SHARE THI+~
APPREOIATYON OE THI+~ PROPERTY AS CALCULATED
PURSUANT TO THIS SECTION 1,
HOEPU~ER'S INITIALS:
1~, orrrpl~atrce with Laws; Oo~errzil~g La~~r, I~omebuyer Hereby agrees to cornp~y
~v~th all applicable o~~dinances, r~~les, at~d regulations of Agency, N~ot~hing l~er'eitl is intended to
be, nor shall it be deetr~ed to be, a ~~rai~er of any City ordinance, rule, of regulation, This
EHIErT D-1 ~ T~ ATTA~UM.ENT N~, 11
Affordable PIatlsirr Bessie Restr'ict~on
DOCa~11~0~~3~f~31~~~~7~-~~~1 ~
~estr~ction shall be ga~el'ned by the la~vs of the State of Califar~ria, Any legal action brought
under' this declaration rn~zst be ins~i~uted irr the Superior Co~~i~t of tl~e County of grange, state of
Califor•rria, or' irr the Federal District Coul't itr the Central District, Santa Alga Division,
15, ~tl~~eltltll~~Catlorz~ Homebuyer shall pay far', defend, 1I~C~emnrfy a~ld gold harmless
Agel~cy acrd the City and their respective officers, ot~ici~ls, aerrts, employees, represet~tati~~es,
acrd ~ol~~r~teers from and agail~st any lass, liability, claim, or judgrt~ent relating alry manner to
Homebuyer's use of the Property or Horneb~~yer''s violation of
~l7is restriction, Ho~nehu~e~' ~lrall
remain f~~lly obligated fol' the payrnerrt of taxes, liens acrd assessments related to the Property,
There shall be rro red~ltion in taxes far Hotnebuyer, rror airy trat~fer of respansibil~ty to Agerrcy
to lnake srrclr payr~el]t, by ~rrtue of tl~ls estr'rctrorr,
~.G~ I~rs~irarree, Homebuyer shall lnaintairr, dur~lag the term of this estrrctlo~r, an
all-risk property insurance po~cy insr~r'ing the Property trr air amount eq~lal to tl~e fill
l~eplacernerlt rral~~e of the str~~ctures ol~ fhe Property, The policy shall contairr a statelnent of
obligation on behalf of t~~e carrier to ~rotify the Agency al~y lna~er'ial change, catrcellatiorr or
termrrrat~~ll Of co~el'age at least thirty ~3a~ days lIl ad~arrce of tl~e effective date of such material
change, cancellation or' ter~nirratton. Homebuyel~ shall transmit a copy of the certificate of
insurance to Agency ~v~thin tlr~rty ~0~ days of tlxe effective date of this Restricti~l~, alyd
~~o~nebuyer shall a~rrr~zally transmit to Agetrcy a copy of the cel+tificate of insurance, signed by arr
author'i~ed agent of the insrzt'al~ce carrier settil~g forth the e~~e~~al provisions of coverage, Tire
copy of the ce~'tificate of inst~rance shall be tratrs~~nitted to Ae~rcy at the address set fot'th itr
Section 24 hereof, The form, co~atent alyd iss~~er of any certrf
irate of lnsurarrce approved by
Agency,
1'~, ~eau~ts~ l~ai~ul+e ar delay by either party to perform any term or' ~a~oviia~r oftlris
~estrrctlarr ~~lrlcl~ is Prot cured 4'~lt~~ll~ tl~lr'ty ~3~~ days after recerpt trot€ce fr'orn the oti~el' party
co~~stitutes a defa~~lt under' this Restliictio~r; provided, ho~~ever', that if such defa~~lt is of the
nat«re ~'equiring snore ti~an thirty ~30~ days to cure the defaulti~~ party shall avoid default
here~~ndel' by cornmenclrr to cure ~~Frtlritr st~cix tlrlrty X30} day period, acrd tlrereaffer diltgerrtly
pru~suing s~zch cure to carnpletlolr, The party ~~~lro so fails on delays must in~tnediately cal~lnence
to cr~re, correct or rerr~ey such failr~re ar delay, acrd shall complete sr~ch cure, cot'rection or
remedy ~~ith dilie~rcc, The injured party shall i4Fe ~vr{itte~~ notice of defa~~it to tl~e party itr
~lefault~ specifying the default cor~plai~red of by tl~e inj~~red party, except as r'e~~il~ed to protect
against further' da~r~ages~ the ~n~~z~~ed party may trot llltltute pl'oeeedlt~gs agalnst the party In
defar~lt r~trtil thirty days after giving such naticc, Failure ar' delay lrr lvln such notice shall
Trot coirstitr~te a ~vatvei' of any default, noi' shall it change the tine of default,
18, ~ar~-a~~~er, failure to exercise any right Agency irray l~a~e or' be entitled ta, in
tl~e event of defar~lt l~er'eunder', shall riot constit~~te a v~ai~er of such r{fight ol• alry athei' right i~~ tl~e
event of a sribsegtieirt default,
19, ~urf~te~, Assur•airce. Hornebuyer shall execute airy fi~i~tl~er dacr~~neirts consistent
~vitlr tine terms of
this restriction, i~rcl~rdi~ag dacr~tnerrts i~r reca~4dable farm, as ,er~cy shall fi'oln
time to time find irecessat'y or appropriate to effect~~ate its pur+poses iir e~~teliing into this
esti'l~tlarl,
~H~B ~T D« 14 T~ ATTACH N~~NT N0, ~ ~
Affordable Ho~~sin resale ~estr~ction
DQCOCII 00G?3~R 13i21~~272.0~~ 1
2~F a~te~~zzing La~v~ ~Io~r~ebuyer• l~et'eby agrees to comply ~vitll all ordit~ar~ces, r~~ies
and regulations o Agency and the Ci#y, Nothing In tl~~s Restriction is i~~tended to be, nor shall it
be deemed to be, ~ ~vaiver of any Ci#~ ordinance rule or• r•egulatiot~, This Restrictio~~ shall be
govert~cd by the la~vs the State California, Ar~y legal action brought under this Restriction
rr~ust be instit~~ted lt~ file Superior Corrr•t of file Col~r~ty of range, State of California, or• in tl~e
~'edez~al ~istriet Co~~~~t in the Central I]istr•ict of California, Santa A~~a I~rvrsror~,
1, Al~lerl[~IYI~YIt 0~' Resti`Ictior~t No rr~odification, rescission, waiver, ~•elease or
arrrend~r~et~t of any provision of this Restr•ictior~ shall be made except ~y a ~v~~itten agreemer7#
executed by Horneb~~yer and Agency.
Agc~~cy I~Iay Assigz~~ Agency nay, at its option, assr~i lts rights hereunder
~~itho~~t obtaining tl~e consent of ~omebtryer,
23, ~olY~cbuye~• .~~~~IIIIIeII~ P~'o~l~llt~(~, Its do event shall ~ot~reb~~yer• assign or
t~•at~sfer• any po~~t~on of tl~rs R.eStrrctl~n ~vrtho~rt tl~e error' e~priess ~rrtten consent of Agency,
~vhrcl~ consent shall he given by Agency only ~t~ the event that Agency determines that the
assignee o~~ tra~~sferee is a Moderate Ii~conle household, that the assignee's or' tt~arisferee's
rr~ot~tllly i~ouslt~g payr~~ents are at a~~ Affordable I~o~~sir~g Cos#, ar~d that tl~e assig~~ee or transferee
leas e~pr~essly assumed. this Restriction by execution of a ~vritter~ assigt~rr~ex~t document to be
provided by Agency. This section si~all not affect or dtt~lrnrsh Agex~cy's right to assign all or at~y
po~•tior~ of its rights l~er•eut~der,
Z4, I~ofice~. Ar~y notices, requests or approvals given under this ~.estr"Ietlo~l fr•o~~a one
parity to another' nay be personally delivered or deposited ~v~th tl~e Unrted states Postal Service
fot• maili~~g, postage prepaid, registered or cer•ti~ed 1nail~ retur~x ~'eceipt req~zested to the following
address
To ~o~riebuye~
;
~o Agc~rcy;
Com~rrunity Redevelopment Agency
oftl~e City of ar~ta ~t~a
Civic Center Playa
Santa Aria, California 9701
A.tter~tiorr; Agency Executive Director
Either party nay change its address for notice by giving ~vritterl notice thereof to the
otl~e~i party,
A,tto~'~reys' ~`ees and Coss. In the event that any actron ~s ~nstrtrzted to enfo~'ce
pay~~ent or pe~kforn~arice ~~t~der this Restriction, the parties agree the non-prevailing party shall be
E~IEIT D-t T~ ATTACI~~~T N~, t t
Affordable Mousing Resale Restriction
DOCS~CI~ ~~OG73~t13i2~~272-~0~~
~~espan~ble fa~~ tad ~l~all pay all cots at~d all attot+t~e~rs' ~ee~ it~eurred ~nel~ prevaiit~~ ~at'~ ltl
e~~forcit~ this Re~~~~tcti~n,
~~i, E~~~i~~e Ag~ee~ne~~f, Ti~is R~tt~~ctia~r, t~ethe~~ ~~~tl~ ~l~e ~aatl Areen~en~ and a~~
attae~~tnet~t~ t~~reta and ~e~~eto, cot~ttttttes the entire ut~derstat~d~n and agreet~nt of the pat~~es.
Tl~i~ Restrictiot~ integrates all of the tert~n~ and co~ld~tlgr~S tnet~tl0ned 17et`eit~ ar ine~dental t~~eret~,
and supersedes ail p~~ior neatia~ion~, disct~ssiot~~ and pre~io~z agreemet~t~ l~e#~~een tl~e ~genc~
and Ha~r~ebu~rex~ cat~cernit~g all ar at~~ part offl~e subeet t~a~ter oftl~is Restrietle~t,
[igt~at~tre block bei~~s an ~'o~lo~~ l~age~
~H~BI~' ~]-1 ~ T~ AT~'A~~~I~~~' 1 ~
Affot~dahle ~~ou~in Resale Re~~rictiat~
~DCSaCJ14~~~73~~1312~~~7~-~~~ 1
IN 'IC'E I~EE~~`, the pa~~ies ~~ave eec~~~~~ fh~s Rest~iic~ion as of the dad set
fot~h above.
~~N~E~U~E~;
P~iin~e~ ~a~r~e:
P~~i~~e~ ~a~ne;
~?E~~;
~~UNIT~' ~EDE~EL~~EN~' ~EN~'
~IIE YT's ~ ~NTA AAA., ~ pubic body,
Co~`pOt'c"~~G' anc~ ~]Oll~t~
yr~~hia ei~o~
~~ecutl~e ~1~'ector'
ATTE~';
a~~i~ D, ~-~~~iza~i, ~~e~{~ of ~~re ~o~~~~cil
API~.~~ED A ~~R~VI;
St~~adi~r~ 'Yucca ari~o~~ Ra~~ti~,
Ac~~cy Special o~~r~sei
E~~I~~T D~ ~ ~ ~ro ~~r~~~~v~ ~o. ~ ~
Affordable ~o~~~~ng Regale ~e~~iic~i~rl
DO~S~CII ~DDb73~=~ 31~0~~~~-~~~1
AT'~,~~~F~~` 0,1 T~ AFF~~DA~~LF ~~IN .ALE l"~.~TI~
L~~L ~~~~r~~~ ar
~~o be it~e~~d~
ATTA~~~N~` N0,1 T~ ATTA~NT N~. ~ ~
To ~4f~o~~dable ~~ol~sit~ Resale ~~s~rictlot~
Legal ~e~cr~~~ion ofP~iope~~~ ,
~~CSOlI~0~673s~1 ~iz~~~~2-4~D
ATT~~~VIENT Nit ~ T~ A~'T'~~DABLE ~I[1~N ~E~~E RETRIT~~~i
TIE I~TE~T TO T~Ai~~'EI~
~~T~~E ~NTE~T T~ TRA~~E~ BUT E DE~~~ERED T~ TAE ~MN~T~'
REDE~EL~~IENT AENY TAE ~T~ ATA A~,
P~EEI~~N IT~I ,~,~Y TI~~ER TIE ~'R~PETY~
~rotn~ ~"~orn~~l,~~~r~,~
To. omtni~~rit~ ~ede~eloprnent Aet~c~
of tlro ~~ty of ar~t~ At~a
~r~~ie tenter Playa
a~~~a Ana, ~alifor~rla X2701
Atte~~tion; Agency ~xeca~tive Di~~ector~
Re: ~trcet ad~lr~ess~
ar~ta A~~a, ali~'o~~nia ~"Pr+opert~r"}
r'~xc~~ cr~pr~~~~r'~r~e r~~~rc~s; ~otneb~ryeri des~~~es to sell, co~~~e~, tr~anfer; b~ it~herita~ree o~i
~e~ise, ~eae, gib, other*~~rie tra~rsfer~ the P~~opert~,
Pro ore Transferees
Inco~rre of Pro oed Tra~rfe~~ee:
~or~SCllod Size ofPro~oed Tz~an~feree;
P~io~ase~l Trat~~fe~~ P~iice;
Aer~cy has ~ Progra~~~ to l~elp locate a Moderate ~taco~ne p«rclrase~~~ does ~
Iotnebr~~~~~
~~vant Ae~~ey to ~~elp look for a ~oder~te ~~rcarne r~tet~aser to b~~~ tlYe Pr~o~e~~t~`?
Yes; No;
Date
igr~at~~~~e of ~arneb~~yexi _
da~tirne telepl~one number of ~o~~rebu~er
AT~`AHN~ENT A`~`T'A~ENT ~ ~
To Affordable ~or~si~ Resale l~est~~~ction
Notice of ~nte~~t to Transfer
~ODCI~ ~40673vI 12~~~~~-~~~ I
ATTACH~N~' N~, 3 A~~VRD~E ~~~I~G RE,~~~ RCS 1 ~.1T~~~
REC~RD~N REL~~T~D BY, ~
~ x~N R~CO~D A~~ T~; ~
Corl~rn~~nity Redevelopment Ael~cy ~
ofthe City afalrta Ana ~
2~ i~ie Center" P~a~a }
Santa At~a, Cal~fol'nia 7~2 ~
A~tl; ~xecutlve D~~'ectol` 1
Ti~ls doculrle~lt is exempt fl'otl~ paymel~t of a
r'ecor'di~l fee pul's~~ant to o~~erl~~~netlt Code
~C~i~tls X73 S3 a~~d G 1 D~.
Re~lie~f for ~o~ice T~n~~er i~ti~ Cate ec~IOll ~9~~
~n accordance ~~tt~l ectior~ fib, Cl~il Code, 1"equest is ~~e~'e~y ~n~de that a Co3y of arly
Notice of Default and ~ capy of any Notice of dale under t~~e Deed of T~'~~t ~'ecorded
.
~ ~
llstr~lrnel~t o; on ~ ~ ~ ire Boob.: ~`P. e _ official
Reca~'ds of~~•ane Caul~ty, Caiifor'l~ia, and de~c~'lbin ~ar~d ~ile~'ein ~
See ~xhiit A attacl~ed hel'eto
executed by , a Tr~~tor', ill
~11C~1 1 ~laxlled
Belrefieia~'y, and
as
Trustee, be rna~~ed to C~N~UN~T~ D~~~LOP~NT A~NC~ T~~ CITE
SANTA, A~~, a p~~~lic body, cor'por'ate and polltie~ at Ci~lc Ceilter Playa, a~tlta Ana,
Calrfor'r~la Attelltlotl: ~xecutl~e D~~"eetor arld Conllllunlty De~elaptl~el~t D11'e~tor",
EXHIBIT Cw 1 TO ATTAC~~~NT ND. ~ 1
To Affordable Housing Resale Restr'ietion
Request for Notice elder Ci~~il Code section ~~2q~b
DOCS~CII ~O~b?3~t~ 31~0~~?~-~00~
~OTYE; A D~" ANY ~~TIE DE~A~LT A~D AMY NTI~E ALE
II~L ~E SENT ~~L~ T~ THE ~DDE C~~T~I~ED THIS E~RDEI) EI~ET~ I~
~ A~I~1~I~E HA~~, . NEB REL~ET BUST EE REOID,
AE~~;
~~ICIITY RED~L~P~~~T A~~~
T~~ ~~T~ ~r A~IT~. ,~A~ ~ ~trb~r~ bod~r,
c~ror+ate and p~lit~~
~t~tl~~a J. nelson
Excut~r~~ Dit~ector
ATT~T;
a~~ia D~ Hrrizar, ~er~k ~'tlle out~c~l
EXHIBIT -2 T~ AT~'AHMENT N~, I t
Ta ~~for~~a~le Ilo~tsin resale R~trircflo~l
bequest faxi ot~ee I~nder~ ~~il bode e~tiot~ 29~41~
D~~OC#l X006?~~R13#~~~~7~-~~~1
l
~~HIBIT A T~ R~~U~T I~~T~ TJ1~DL~ CIVIL ET~O~ ~~~~b
LEGAL I~~~TI~1~
~~o lie in~er~ed~
i
EXHIBIT A T ~.TTAHMH~T x,11
To ~eq~~es~ I'or ~aflee C~~~er i~il cede ee~l~~~ ~941~
Legal I)esct~i~~ior~
D~CS~C~1~~0673ti~13}~OQ~7~-001
A~`TAI~~T N0, ~ T~ A~~~RI~A~I~E ~~TJIN RIi~AI,~ RI~a~'RI~TION
I~I1~RI~~~~~` A~~IE~~'
This IBUIt~~~~N~` A~E~~`, dated as of ~ : ~ ~ : ~
~i4~.eit~~bu~~sen~erit Agreet~etrt"}, is hereby entered i~rta by at~d bet~~een the ~NI~U~IT~
R~DEI~~PMI~~~T A~~~ 0~' TAE I~~ ABTA a pubic body corpat~ate
at~d olrtic A enc ,and : ~ : ~ ~ ~ : ~ . ~ ~ : ~ : ~ Horrtebu er
RECITALS
A, Hotneblryer" is purchasing carrdor~ini~tn~ located at ~ ~ ~ ~ ` ~ ~ Santa
Ana, alrforrl~a {`iPtiapet•t~~"~,
B. Age~rcy at~d Hamebuyer" ~ra~e e~eerrted air Affotdahle Housirrg Regale estr~ctio~r
">~estt`i~tion"~ ~~~~]ICII requlrc~ that for a for"~~-fide X45}year period tl~e Pt'operty be Bald o~rly to ~
Maclerate ~t~cotr~e Household at ate Affordable Hox~it~ fast, ~~lricl~ tray result lei purchase
pt~ices ~vlricli are sttbtantially less tl~at~ the current fair" rrrarket ~all~e of the Pr"ope~~ty~
~ la~.~.~b~~~~+~~ ab4C~in~~ L~ ~aC~~ ~iiLaG~n7f i4P l~i~t ~l~i~~'~ ~~"a~n p~~l~C~l~i ~~+nd~~~
~"Le~rdetk"~ for a par"tiatr of the casts of acq~tiition of tl~e draper"ty, A description of the Loan i
set for~lr i~~ ~~l~ibit "A" hereto, ~~hicl~ is i~rcorpor~ated llereit~.
D, p~trsctant to the Restriction, Agetlcy leas the t"iglu to acquire the ~'t~operty in the
event that it becan~es sr~bject to a foreclosure roceedi~rg, at~d leas the right to ruake ~ayt~e~~ts to
care a defar~lt ar de~i~rquency an the Haan,
~'he r"~gl~t to make payrrre~rts to cute ~ default ar delit~q~tency on the Loan mill be
of benefit to Agency by alla~~in Agency to present the fat~eclosure of the Prapet"ty, ~~hic~r u~ill
pre~errt the early tertnit~atiotr of the lestr~ctian"
F~ Age~rcy's r"iglu to n~ake payrr~etrt~ to cure default or" delit~grrer~cy arr the ~aat~ ~
also of benefit to Hanreb~tyer, ley allo~~ing Horncbuyer to retain a4~~rer;~l~ip of tl~e proper"ty acid to
avoid fareclosurc,
Agerrcy desires to obtain the ar~thar~ity to rnake paytrrents to care a default or
delit~cuency air the Loan, on tl~e ca~iditror~ t~~at Harrrebuyer" agrees to reit~burse Agency for any
pa~~nerrts trade to cure a default or delinq~~errcy on the ~,oat~. In order to indr~ee Agency to
abtairr the aut~~ot~ity to n~alce payme~rts to cr~re a default ot~ delinquency orr tl~e Moan, Horrreb~~yer
is willing to agree to reitnburse Agency fo~~ any payr~rents rnade to cure a ~oatr default ar
delinc~~tency. Har~~eb~~yer; ~tndex~stat~ds and ackn.a~~rledges that Agency world not make pylnet~#
to cure aLoarr default ar delinquency but for Hot~eb~~yer's agr"eemet~t to t~~ako srrch
t~eitr~bursements to Agency, as pr~avided lretein~
ATTACH~~T ~ ~ ~ ATTAHNiENT NO ¦ t ~
To Affordable ~ousit~ Resale Rests"fiction
~eit~nburser~rent Agreement
DO~sOClr4~~b73~~131~~~~~2-~~~1
s
NUw, T~~~'OE, in co~~sideratiot~ of the mutual co~renar~ts hereir7 ca~~tained, it is
agreed by and bet~~eet~ the parties hereta follaws;
1, rare of ~oa~z ~]cfau~t, Agency hereby has the ril~t, b~zt riot the obliatrot~, to
make payl~ents to the Ler~der to fully ar' partially c~~re ax~y default or• del inquency in payn~e~ts of
the Laan~
2. ~~III~~?llZ`e~tellt ~hIIa~io~~ of ~omeb[rye~,~ ~~omebuye~' hereby agrees to
reirnb~u~se Aer~cy for• a~ay and all p.yrr~ents made by Agency to f~~lly or' partially cure at~y
default ar delir~cluet~cy ire payrne~~ts of the Loan, ~~ch payrnerlts shall be trrade within thirty {a}
days after writter~ detr~and is made tl~er•efor fr~or~ Agency to ~arnebuyet•, Agency may zx~ake
s11C11 wl'ltten derrra~~d to Han~~ebuyer at any tithe after making such paymer~ts. ~f such ~~rritter~
derrrancl is made by persor~al deli~er,y of s~~ch der~arid grver~ to Hameb~zyer, oz' left at the
Pr•opei~ty, such demand half be deerr~ed given irnrr~edlately upon such delivery. ff such written
detrra~~d is made by r~e~iable avernigl~t delivery service {such as Fed}, s~~ch demand shall be
deerrred given one busir~ess day after deposit of the wrrtter~ detna~~d with the overz~igl~t delivery
service, If s~zcl~ ~~iritten dernar~d i ~~acie by registered or certified Mail, such de~nat~d shall
be deetr~ed gi~~erl three b~~siness days after depasrt ~~'the written dema~ad with the U,, Postal
erv~ce,
3, ecurit~~ for Rein~burse~Y~erYt. Tl~e abligatiot~ of ~ar~ebuyer to Make tl~e
rei~~rburserrre~~t pay~rre~rts to Agency required ~~~~der section ~ shall be secured b~ a deed of tr~~st
which shall encu~rrber Ho~~~ebt~yer's fee title to the Prope~•ty. ~rclr deed a trust shall be i~~ tl~e
for~r~ attached hereta as Exhibit ~~rl~icl~ is hereby iracar'parated llereita, such deed. of tr•r~st
shall be ~ut~iar and s~rbot•di~~ate to the deed of trr~st which secures the Lawn, ~-~ornebuye~i can~ents
to recordatia~~ of such deed of trust in the official reco~+ds of grange bounty, aliforr~iaf
office of ~cfalrt~ ar~d ~eli~~quc~~cy~ Hor~ebuyer' agrees to delrver• to Agency a
copy of any notice of default or• delirl~uer~cy ire r•epayn~ent of the Loan which f
~orneb~~yer
receives frame or an l~el~alf of the Ler~der•~ such notices shall be delivered to Agency within five
days of l~an~ebuyer's r•ece~pt of such rlotlce f~~ot~~ the Lender,
waivers,
a~ ~atrrebuyer expressly agrees that a~~y payrnenf daze l~erelrt~der• may be
extended frar~~ time to time at Agenoy's sole arld absalt~te discrtior~ and that Agency nay accept
sec~rrity in ca~~sider"atrarl for• at~y s~icl~ exter~sior~ ar release any sec~~rity for this l~eimbursernent
Agreenletlt at its sale discretron all without rn ar~y way affecting the 11ab1ltty ofHarnebr~ye~'~
b~ No extensiar~ of time fay' payment of tl~e a~rra~~nts d~~e p~~ruar~t to this
Reimb~rrsernet~t Agreement ~~nade by agr~eerr~et~t by Agency with at~y per•sarr t~o~v ar hereafter
liable for the payrnet~t of this ~eitr~burer~ent Agreement shall operate to release, discharge,
modify, change ar af`ect the original liability of ~otr~ebuyer• under this Reirnburset~et~t
Agreement, either in whale or ita part.
ATTA~~M~NT N~, 4-2 T ATTAC~IENT N~,11
To Affar'dable ~a~~sir~g Resale Restr•ietiot~
Reib~~~•sement Agree~r~ent
~OCaCII ~0~673~~ ~~12~0272-~~~ ~
c. Tl~e obligatiar~s of Hon~ebuyer• under this Reitn~~~~•emen# Aree~nent shall
be absolute at~d Hotnebuyer• waives arly and all rights to offset, deduct or• ~vithhald any pa~n~e~~#
ar charges d~~e under thls Rerrnb~~rsemet~t ~greernent for any reasons ~vl~atsaever,
d ~ Hornebu~er waives p~•esentrnet~t, de~nand, notice of protest and
not~pa~tnet~t, notice of default or delinquency, notice of acceleration, ~~atice of costs, expenses or
leases ar interest therearr, rlot~ce of drshor~ori, dilige~lce in collection or in pa~oceeding against any
of th.e tights of interests in ar• to properties sec~~ring of this Reimb~rrsernent ~.greemerrt, and tl~e
benefit of
and e~empt~an ~z~~tle~i and ~lornestead exetnptl~I~ laws, tf applicable.
e, ~a pr•ev~c~~s ~~al~'er and too fail~~re o~• delay by Agency in acting with
respect to the tertns of this Reirnbursemet~t Areel~~et~t sllall cot~stltllt~ ~ ~~arver' of and' breach,
de'ault, or• failure ar condition under this ~eirnb~~remet~t Areetne~~t. ~ ~vaiver• of a~~y term of
this Rein~bursernex~t .reetnet~t ~nust be made it7 ~~~ritin and snail be Iin~ited to the express
written terms of s~1Gii ~~ral~er,
,~ttorrieys' f~~ees ~~i€i Casts Ha~rrebt~~ez~ agrees that if at~~' arno~~t~ts due under
this Rermbursen~ent Agt•eetnet~t are riot paid ~~herY d~~e, Homehuyer• shall pay, its additi0t~} all
costs at3d expenses of collection at~d reasar~able attorneys' fees paid ar• incut•ted lr~ cant~ection
~vrtl~ tl~e C~llectror~ of enfol'cernent of thls Rerrnb~~tserner~t ~gz'eelnerlt, v~rl~etl~et~ or r70t ~~l~t ~
filed,
7, iscellar~eo~is~
a~ Ter~l~~ of A~~'eert~ent, This Reimbt~r•se~nent Agreetner~t shall take effect
~~por~ tl~e date set ~'ortl~ in tl~e first paz~agraph ller•eof and shall ter•tn~nate lrpar~ tl~e final paytnent i~~
f~~ll oftl~e loan,
b. uccessar is deemed ~izci~I~~ed i~~ ~iI Referc~~c fa Predecessa~'~
henever• ire this Reirnb~~r•serr~ent Agreernet~t either ~~atneb~~yer• or• Agency is Warned or• r•efetred
ta, such reference shall be deemed to ir~cl~~de the lrccessors or assigns thereof, atYd all the
covenants and a.green~etlts irl this R.ellnbur'sernet~t ~gr•eerrrent contained by ot` Dn behalf of
Ha~~rebuyer oa~ Agency shaii bir~ci acid i~~ut~e to tl~e be~~efit of tl~e respective successors and
assigns thereof l~ether• sa exp~~essed ar rrot,
c, Ar~aerldl~lel~t. ~amebu~'ei• and Agency may alter, madi~'y or cancel, or
agree ar consent to alter, tnadify or cancel this Reitnburen~erit Agreement h~ a ~vr•iting executed
ley both aftlrem at and timeF
d~ Notices, All notices, certificates ar• other cotr~tnunications he~•eunder• shall
be suf~cierltly given and shall be deemed to have been received its the rnanner• ar~d to the
addresses set fottl~ in Section ~4 of tl~e Restriction,
e, ~u~~fher Assux'a~~ces acid o~~~cctive ~ristr~ii~~e~~~s, ~o~nebz~yer at~d tl~e
Agency agree that they sl~a~l, fror~r tithe to tine, execute, ack~~a~~'ledge and deliver, or ca~rse to be
executed, acl~no~~Ieded at~d delivered, such supplements hereto and s~rcb fi~~~l~er instr•~~met~ts as
rna~ resor~ably be required,
ATTA~~NT N~. TO ATTAHN~ENT i~~, ~ l
To Affordable ~o€~sing Resale Restrictiarr
Reitnburserne~~t Agreerner~t
DDCS~C~~~~O~?3tiR 1 ~}20272-~~~ 1
f. E~ecu~ion iii ~~u~~te~~~arts, This Reimh~rsement ~.~~ee~ner~t ~~ay bo
executed ~n seve~'al co~~~7te~~~a~'fs, each of ~~hich sl~all be an o~'iginal a~ld all of ~vhich shall
co~~stit~~te lout o~~e a~~d tl~e sane it~str~~~~ent,
g. Applieabie ~a ~'l~is Rei~~bu~'se~ent Aree~net~t sl~all be a~e~'t~ed ~y
and cor~strued ire accordance ~~Ith tl~~ la~~s of tl~~ state of alifo~•~~ia,
ap~io~~s, The captiot~s oz~ I~eadings in this Rei~nburse~r~e~~t ~.g~;eet~e~lt
aa~ for can~t~ie~lce only acrd iii no ~~ay define, lin~~t ar descrl~e tl~e scope or i~~t~t of any
p~'a~ls~ot~s of t~i~s Reir~.bu~~sen~ent Areetnet~t~
z, ~e~lI11tIDI1, At~y te~'tns used he~~ein I~~~t ~~ot sepa~'ately de~it~ed lle~~eitz shall
be ~er~t~ed as p~'a~i~ed ~n the Rest~4ietlon and i=Ia~nebt~~~e~~ I,oa~~ At*eetnet~t, as applical~Ie,
[inat«re block bei~~s on fallo~~ ae.]
A''A~I~iE~T ATTA~IIE~T N~, t t
To Af~a~~dahie ~
iousl~~g Resale Restriction
Rei~nbu~~se~nent ~reen7er~t
D ~CS~~I l ~~~~73~i ~ ~1~~~~7~-0~~ 1
~N ITN k~~, ~or~ebuyer rid A~enc~ ~~~~e ca~~sed ~1~is Re~rnbu~~~emen~
Ar~eerrrer~~ to exec~~~ed b~ ~~eiri ~u~y a~t~iao~~ized res~ec~i~e officers, aid ~ of the dale
~o~e ~~~i~~~er~.
l~N~EB~1~E;
~r~ir~~ed carne;
Pr~iri~ed ~r~re,
t
0~' T~ IT'S .~'~A AAA, a ~r~ is bod~~
cor~por~ate a.t~d pa~i~re
~~r:
~~r~tt~ia ~eiso~
~x~ee~rt~ve ~ir~ecfor~
~TT~'~;
N~a~4~a D. ~-I«i~ar~, Clerk ofti~e orai~~ii
APP~~ A T~ ~~RNI;
~~~adli~Y Yo~ea C~r~son Ra~~th,
~e~e~ ~ee~al Co~rnsel
~'~~~NT N~, T~ ~`A~-~MEN~' t 1
Affo~~~able ~~o~~sin Resale Refric~ioz~
Re~rn~ur~emen~ ~gx~ee~ne~~
DDCS~~11 ~~073~f 13f~0~~72-~~~ 1
~~~~~1~ T~ ~r~~~c~~~
~I C]~ D~ Ho~~lebu~rel
;
~~~I`~5 4~~~'0~~~'~~,
acne of Let~det{;
A~o~~~~ of Lo~r~;
~x~~~~r ~ ~ i i
To l~e~r~b~~rse~r~~~~ Areemen~
A~ffordabl~ ~ou~~~~g ~~a~e R~~~~~i~~i~~~
DD CSO CI ~ 400b?3~~ ~ 31~~~~~'2~~~~ ~
f
E~HI~IT T~ REI~U~I~~iI+~NT AREENi~T
RE~RDIN REUETED ~
AND THEN RE~~DED TD. }
orr~rnunity Rede~olopn~et~t Age~~cy ~
oftl~e pity of Santa At~a ~
20 ~i~ic Center Plaza ~
Santa Ana, California X702 }
A~ttl: E~~CU~I~e Drr'eetor
This docun~ol~t i ~~cl~lpt froth payr~nent of a
recordrng fee pursuant to o~e~;t~tnet~t Code
ectiorrs x'1353 arld ~103~
DI+~I+~~ ~I' TRT IT~I AI~NII1~T ~I~ I~~T
SHORT EDR~
This DEED OF TRHST is ~nad 20 bet~~eer~
ller•eit~ called TRHTOR, ~~hoso add~•ess is
Santa Aria, alifornta ,
y herein called TRUSTEE, and ~'INIU~IT'Y
~D~'~EI~~NIE~T AEN ~I~~ THE IMF SANTA AAA, a public body, corporate
and polrtlc, herein called BENE~"I~AR~Y,
ITESETH; That Trr~stor grants to Trustee in tr~~st, ~vitl~ power' of sale, that properly
in the City of Santa A~~a, o~~nty Drkar~ge, State ~f ali~'or•nia, c~esc~~ibcd as.
4 C
SEE E~HIIT A ATTACHED HERETO AND BADE A PART HEREOF,
together with tl~ rents, iss~res and profits tl~ereof, subject, ho~e~er, to tl~e right, power at~d
authority i~ereina~e~~ g~~el~ to and conferred ~~poxa Bet~e~iciar"~ to col~ec~ and apply s«cla ai~~ts,
issues and profs for• the p~~~'pos~ of scc~rr•ir~ ~1} payment of any suz~ns advanced on bel~lf of
T~~~~stoz~ accardlt~ t0 tine terrrrs Of a Roln~burserrient Agr•eemer~t of e~e~~ date hererth made by
Tr~~stor• acid Bone~oiar~, and e~terrsrons or ~•ene~~als thereof, tine perforrnancc of each
agreement of Trusto~~ incorporated by r•eferer~ce or contained her•eir~, and pay~~e~~t of
additianai sums and interest tl~ereor~ ~~hich rriay hereafter be loaned to T~ir~stor, or his successors
or assig~~s, ~~llen evidenced by a pr•an~issory mote or notes reciting that tl~ey are seeur"ed ley tlirs
Deed ofTr'ust,
To protect tl~e sec~zr4~ty of tl~~s Deed of Trust, and '~4rrt] respect to the property above
described, Tri~~sto~i xpr•essl~ rrrakes each and aiI of the a~~eer~~errts, ar~d adapts and agrees to
perfar•m and bebound by each and alI of
tilo ter•rns aid ~~•o~isions set fot~h in subdi~~iston A, at~c
it is rnut~~ail~ agreed that each a~~d all of the ter"ms and pro~rsror~s sot for•tl~ to subdr~rsran B of
t~~e ~ctttlo~zs d~~d trust recorded in ~~•at~ge County August ~'1,19~4, acid in all other counties
A~~ust 18, I X64, i~~ the boob and at the page of ~ffie~al Records its tl~e office of the eo~~nty
E~HrB~T B»1 T~ ATTACH~NT N~. ~ 1
To Reimbr~rsen~ent Agreement
Deed of Trust kith Assignment of Rents
D~~SOC1~~0~6~'3~T~ ~12~~272-~~~ ~
recorder of tl~e co>~~nt~ wl~et•e said p~•opert~ is located, noted below opposite t~~e name a~' s~~cl~
co~~nt~, narnel~a
~~Ul'~ l ~r I3~~ PA~~ l.~llil~T $OOI~ r~VG C.111.J1Y 1 ].7 L]VV~ I'CYVIa I.VUY?~ D~ ~~VG
t~Iameda I288 SSG I:i~~gs 858 713 Placer 1D28 379 8iema 38 18I
Alpine 3 130-31 Lake 437 1I~ I'lumas 15b 1307 i~f~i}~o~~ 50b 7b2
Amador 133 438 I-risen I9~ 3b7 ~i~•e~ide 3778 3~€7 Sn1an~ I287 b21
13~at#e 1330 S I3 Los r1E~geles T3878 874 Sacra»~cnto 5039 1 5oymn~a 2067 427
Ca1a~~eras 18S 338 14~ade~a 911 I36 San Beni#o 340 405 Stanisla~~ 1974 5b
Colusa 323 391 ~larin 1849 122 S. Bernardino 5213 768 Sutter b55 585
Contra Costa 4684 I ~ianpasa 90 453 5. Francisco A•80$ 59G 'Fel~a~~ta 457 183
Del I~o~te I01 549 ~Ifendocino bbl 99 S. Joa~airt 2855 283 Tiin~#y 14S 345
EI Dorado 70-1 53S Alefced 1fib0 753 S. Leis Obispo 1311 137 T~~Iare 2530 lOS
Fresno 5052 b23 ~fodoc 19I 93 San lfateo 477$ 175 T~ol4r~nne 177 1b4
Glean 469 7b ;Mono 69 342 Santa ~arl}a€a 2465 881 E'entuEa 2b47 237
1I~~Ertbold# 801 83 l~fantere}~ 357 239 Santa Cara 6526 bG4 1'ofo 769 I6
linpe~ial 1189 701 Napa 704 742 San#a Cr~u, 1b38 6U7 ~'uba 398 593
In}'o ib5 672 \c~•ada 3b3 94 Shasta 80(1 G33
I;ern 375b 690 I~ra~~ge 7182 IS Say~Diego 19G4 149374
Series 5
si~all inure to a~~d bit~d tae parties l~ereto, witi~ ~•espect to t~~ prope~~t~ above de~cribd, laid
agreet~et~ts, te~•ms ar~d pro~~s~ot~s cot~tlt~ed In Bald subd~~~s~on~ A and B, identical ire all
eo~~nties, a~~d p~~it~ted on pages ~ and ~ hereof are b~ tl~e wit~~i~~ refere~ice t~~ereto, i~~corporated
i~erein a~~d made a pa~~t ot~~i Deed ofTr~lst for all purposes as fi~l~~ as set fo~•t1~ at le~igtl~ l~erein,
and Betlef
~ciary nay cl~are for a statement rega~~di~~ tl~e obligatio~x sec~~red hereby, provided
the clra~•e tl~ereo~~ does not exceed tine ma~imr~r~ allowed by law.
~'l~e rr~ndet~sit~ed `I~r~~stor, req~~ests teat a copy of ar~~ notice of defal~lt at~d at~~ t~otlce of
sale hereunder be ~naileti to ~ii~r~ at his address iaerei~~before set f~t•tl~,
~'rustor
Trustor
EXI~IBI~' AT~`AI~~I~NT ~~,11
To ~eimb~~t•sen~ent Agreement
Deed of `pr~~st witl~ ~ssi~~n~ent of Re~~ts
~o oc~~ a~~73~f ~ 3~~~0~7 ~-~ao i
1 ~ 1 ~ ~l'~~~ ~7L' l~~illL.~ ~~~+7~~1~ 1 ~LX R l?1~~~
~ ~nSet~ed]
H~~T A-~ TD ~TT~~r~iE~T N~, r ~
To Deed of Trust ecur~n Re~rnbu~~s~ten~ A~+e~n~ent ~
seal Des~r~ip~~on
D~C~~114~~?3v 13~~00~7~-00~ r
l
~HIBIT B
NAT R~~~~D
Tl~e falla~ving is ~ copy of ubdi~isiot~s A and B of tl]e fictitious Deed of Tr~rst recorded
rr] each cour]ty rn altfo~~t~ta as stated rn the foregoing Deed of Trust and rncor'porated by
referetrce ir] said Deed of Trust as being ~ ~~ar~ thereof as if set forth at length therein.
A, To protect the securtt~ of tl]rs Deed of Tr~tst, Trt~stor agrees;
~1} To keep said property in gaol car]ditiorr and t'epait; not to ret~~a~e ar
dernolisl] any building tl]erear]; to cam~lete or' restore pt'on]ptly acrd irr goad ar]d ~varkma~rlike
r~]anrier arly bulldin v~r~~icl~ tray be cons~r'trcted, damaged or destroyed thereon] and to pay ~vlrer]
dt~e all claims fay' labor per;~'otr~ed acrd z]~atet~ial furnished tllerefar•; to eor~p~~ ~~itl] all lames
affecttt~g sold property ar' rec~ttlring any alterations ork tt~~pro~errrerlts tQ be made tl~ereot~, not to
cornmit or per;unit waste thereof; not to car]]rnit, stiffer or pet~tnit any act upon said property itr
vialatian of la~v; to cultivate irrigate, fertilize, fumigate, prone at~d do all other acts ~vl]ich fi'or]~
the ci~at'acter on use of said property tna~~ be t`easanably r]ecessary, the speci-~c et~utrterations
1lereit~ trot excludit] the general,
~2~ To provide, maintain and deliver` to Beneficiary fire insurance satisfactory
to and with loss payable to Beneficiary. The arr]ot~r]t collected utader any fine or other' ir]st~ra~]ce
policy tray be applied by Beneficiary upon any indebtedness secured 1]ereby a~]d in such artier as
Beneficiary tray deterr~~ine, or at option of Bet~e~ciary, tl]e entire ar]]ount sa collected or any
part thereof may be released to Trt~stor. tech applrcatlarr of release shall not cure or waive a~ly
default ar' r]otice of default l~ret~nder ar invalidate any act dor]e pt~t'suat~t to such r]atice,
To appcaa' to and defend ar]y actror] or proceeding ptttiportit~ to affect the
security hereof or tl]e ril]ts or powers of Beneficiary or Trustee; and to pay all costs at~d
e~penses~ including cast of evidence of title and attorney's attorneys' fees in a reasor]able sutt~,
In arty sucll aCtl(~I] ot" proceeding to ~~i]rch Bene~crary or Trustee may appear, and rn any stilt
br'aught by Berreficiar~? to fat'eclose this Deed,
~4} To pay. at least tetr days before delinquency all taxes acrd assessn~et~t
affecting said property, including asessr]ret~ts on appurte~~ant ~~ater stack; ~vlren date, ail
encur]]brar]ces, cl]ares acrd liens, ~vitl] interest, an said pr`oper'ty or at~y pant ther'eaf, ~~1]ict]
appear to be prior or superior' hereto; all costs, fees a~~d expenses oftlris trust,
l]o~tld Trttstor fail to r]]ake ar]y payrner]t or to do at~y act as her'eiri provided, tlretr
Ber]eficrary or Trustee, ~b~tt ~vtthout ablratrar] sa to do acrd ~vttl~out notice to ar demand €tpor]
Tr~rstor tad without releasir]g Tr~rstor frog any obligation thereof, rnay: nuke of do the sa~r~e its
sttcl] man~~er at~d to such extent as either nay deem necessary to protect tl]e security 1]ereof,
Beneficiary ar Trustee being autl~ot~ized to enter' r~por] said praperty fats sttcl] pt~t{pases; appeal' ir]
and defend any action or' proceeding purpartirrg to affect the security 1]ereof ol` the tights ar
powers of Beneficiary or Trustee; pay, ptircl]ase, contest of cot~promrse an~r er]cunrbr'atrce,
ci]are or lren ~vhtcl~ t~~ the ~udmer]t of either' appears to be pilot oti superior l]ereta; and, irr
B~I~~B~T B 1 T~ ~TTA~BNT N~. ~ i
To Reimburser]]erit Agreement Deed of Trust
ot~-Recordable Attacl]rner]t
~~CS0~11 ~~~~i'~3~t131~~~272~~~~1
exercising ar~y s~ICh powers, pay necessa~4y expenses, err~ploy counsel aid pay leis reasonable
~ees~
To >~ay in~n~ediately acrd without demand alb sums sa expended by
Beneficial'y ar Trusted, with interest fr'arn date of exper~ditur•e at tl~e amo~~r~t allowed by law in
effect at tl~e date hereof, and to pay for' any statement pravlded far• by Iaw ire effect at tl~e date
lae~•eof ~•egar'dirrg tl~e obliatiai~ see€ir•ed hereby any arnour~t delnailded by the Beneficiary not to
exceed t}xe I~aximum allowed by law at the tune wl~e1~ said statement is dernanded~
B~ ~t is m~Itually agreed;
{1} That airy award of damages i1~ connection with any canderrrraatiar~ far
ptik~lic use of or• inju~'y to said property or slay part thereof is hereby assrgr~ed al~d shall be paid to
Bel~eflC~ar'y 4vho rna~ apply ar' 1'elease s~~el1 ri~o~]Ies recelved ~y hll~i lr] the carne Inal~nel' acrd wltll
the wine effect as above provided for` disposition of proceeds of fire o1{ otl~er• insurance,
That by aeceptila payment of any sung secured hereby after its dale date,
Bl~e~ciar'y does not ~vai~e leis right either to r•e~riire pr'ornpt pa~Inent when due ofa}1 a~her Burns
so sec~lle~l ar to declare default far f'ailur'e o to pay,
That at an tilrie ar frarn tune to tune ~v1t1~LIt Iia6ll~t ~ therefor at~d
3
wltha~rt rlotlce, upon writ~eri request of Beneficiary and p~'esentatiot~ of this deed and said note
fo1' endorsement, at~d ~vithout affecting tl~e pe1•sol~al liability of any persar~ for• pa~Iner~t of the
il~debtedness secured laex•eby, TI'ustee rnay; r•econ~ey any part of said pr'apert~~, cal~ser~t to tl~e
rnalcir~g of any Inap or• plat thereof; join in grrrtir~g any eaerner~t thereon; ar• join in at~y
exter~sior~ agieelriet~t ar arly ~greemelat slil~ordinating tl~e lien ar' charge l~e~•eof,
That upon ~vritten I'equest of Bei~eficiar'y stating ti~at all Burns secured
he~•eb~ have heed paid, al~d ripon sur'render' of this deed and said Mote to Trustee for; cancellation
and x•etet~tion or other drsposltlon as Tr'~istee rr~ its sole drscr'etror~ nay choose aid upa1~ payn~erlt
of its fees, T~4listee shall r•ecor~ve~, witi~out ~varr'ailty, tine property then held here~irider•, The
recitals in suci~ ~•econ~eyarrce or try natters ar` facts shall be conclusive proof of the tr~~thf~~lness
tlxeliof. The rai~tee in such reconveyance trray be described as "the person or• persons legally
entlt~ed thereto,"
That as additiarral security, Trustor hereby gives to and eanfers ~zpaxa
Beneficiary tl~e right, power aid at.?tlrar•ity, d~~1'~ng the corYtil~~lance of these Twists, to collect the
rents, iss~les ar~d profits of said property, r•eser•;~rt~g unto Trustor tl~e ~4igl~t, prior to any default by
Trustor• iii paytnet~t of at~y indebtedl~ess secured hereby ar in perfor~~nance of any age;eenlet~t
hereunder, to collect and retain such r•er~ts, 1ssLies and pr•of~ts as they hecon~e d~~e and payable,
Upon al~y such default, Beneficiary may at arty tilne withatit Notice, either rr~ person, by agent, or•
Icy a r'ecer~~eri to be appointed. by a coul•t, az~d witha~it rega~•d to the adeq~racy of any seeut4ity fog'
the indebtedness he~•eby sec~ir'ed, enter ~zpon al~d tale possession of Bald property ar any part
thereof, in his own Warne sue fo14 or atherwrse callect such rents, iss~les, arld profits, it~cllidin
those past due acrd ~irrpaid, and apply the carne, less casts and expenses of operation aid
collection, incl~~di~~ reasonable attar;trey's attor'neys' fees, upon ar~y indebtedness secured
B~~~BIT B-~ T~ ATTAUNiET E~,11
To l~eilnbri~•sement Agreement Deed of Tr•~~st
~loi~-recordable Attachment
D~CSOCII ~~~67~~~~ ~1~~~~7~-I~~I~1
l~erehy, and in such order as Beneflciar'y ray deterlnine~ The entering ~~por~ and taking
possession of said property, the collection of such rents, Issues al~d profits and tl~e application
thereof as aforesaid, shall not cure or waive any default a~' notice of default hereunder ar
rn~al~date any act done p~lrs~ral~t to s~rch ~~at1Ce.
That upat~ default Trt~stor il~ payment of any indebted~~ess sec~~red hereby
or in per~farr~ance of any agt'eel~nent l~el'eu~~der, beneficiary nay declare all subs secured hereby
it~l~ediatel~r dale and payable by delivery to Trustee of ~vrlttel~ declaratlali of defa~rlt and delr~al~d
for• sale and of ~vrittell native of default and of election to cause to be Bald said property, which
~~at~ce Tr~lstee shall cause to be filed far record. Eenef iciary also shall deposit with Trustee this
Deed, said Hate al~d all documents evide~~cln expel~dltrtres secured hereby.
After the lapse of such time as may then be requited by lam follov~~~~g tl~e reeordatior~ of
said ~~atice of defa~~lt, and ~~otice of sale l~a~in been given as then req~~ired bar la~~r, Tr'~rstee,
~rltlaaut del~~l~d ot~ Trustor, shall sell said property at tl~e time and place fixed by it ilk sold l~otice
of sale, either s a ~vl~ole or ~~x separate parcels, and X11 such order as it r~a~r deterlrrir~e, at public
a~lctian to tl~e highest bidder far cash in Ia~vfi~l mane}~ of tl~e H~~ited Mates, payable at ti~rle of
sale. Tr~rstee ~~~ay postpone sale of all or al~~ par~tia~~ of said property by public al~no~~l~cen~e~~t at
such time and place of sale, and tram time to time thereafter trlay postpone such sale by p~~~lic
at~t~aul~cernent a.t the tl~r~e fired by tl~e precedi~~ postponet~~e~~t, Trustee shall deliver to such
p~~rchaser its deed can~reying the property sa Bald, but without any co~elxa~~t or ~var•rat~ty, express
ar implied, The recitals in s~rch deed of any matters or facts shall be conclusive proof of the
tt'utl~f~~lness thereof. Any person, including Ta~~~stor, Tr~~~stee, or Beneficiar~~ as l~ereinaffer
defined, may purchase at such sale.
After deducting all costs, fees a~~d expenses of Tr~~stee al~d of this Trust, including cast of
ev~del~ce of title rn cot~~~ectlan ~~itl~ sale, Tr;~#stee shall apply the proceeds of sale to payl~ent of~
all sums expended l~t~dei~ the terms hereof, ~~ot ti~en repaid, with accrued i~~terest at tl~e alnou~~t
allowed by la~~ in effect at the date l~ereaf; alI other' sums then secured hereby; and the
re~~~ainder, if any, to tl~e pel'sar~ or persons legally entitled tl~ereto~
Beneficiary, al' al~y s~~ccessor irl o~vner~ship of any indebtedl~ess secu~'ed
hereby, mad fz~atn til~re to time, by instrument in ~vr~iting, substitute a successor or s~~ccessars to
at~y Trustee named herein or acting l~ei~eunder, which instrr~lnel~t, executed by tl~e Bertef
Iclar`y
and duly ackna~~ledged and recorded its the off ice of file recorder' of t~~e county or~ counties
~~here said property is situated, shall be cancl~zsive pr'oaf of proper subStitut1Q11 of strcl~ s~~ccessor
Tr~~stee ar Tr«stees~ ~~ho shall, without cali~eyance from the Trustee predecessor, s~lcceed to all
lt5 true, estate, rights, po~~ei•s a~~d drrties. and lns~i'~lr~lerlt rI~~1St ~at]ta111. name Df the ~1'r~rnal
Tr~lstor, Trustee and Beneficiary llel'eux~der, tl~e book and page ~~here this Deed is recar'ded and
tl~e l~alrre and address of the ne~v Ti`ustee~
~8~ That this Deed applies ta, inures to the benefit af, and binds alI parties
i~er'eto, their hell's, legatees, devisees, administrators, exec~ltors, successors and assigns. The
teriri Bei~eficiary shall ~neal~ the a~~ner and holder, including pledgees, of the irate sec~~red
hereby, ~~lietllei' ai' ~~at natrred as Beneficiary heieil~, this Deed, ~vl~erle~er the context sa
EH~~~T B-3 TO ATTACHMENT N~,11
Ta eimburserr~errt Agr+eetner~t Deed afTi'ust
Nail-ecai'dable Attacian~erat €
DOCSOCII ~~DG73~T1312~~27~-~0~ 1
requires, tine ma~c~ll~e gender ~~~cludes the erin~ne a~cllor ne~tter, at~d tl~e singular r~uml~er
includes tl~e ~ir~ral.
That T~•ustee accepts this Tryst when this ~ee~, ~~1~ eec~~te at~d
aclc~~o~vledged, is ~~a~e ~ public reeo~•d a pro~lded b~ la~~. Trr~stee i nat obligated ~o notify any
~ar'~~ lle~•eto of pe~~~ling sale ~~~~de~i at~~ other Deed of Tr~~t or of and action or p~~oceedit~ i~~
~~Tl~icl~ 7`rt~stor, ~enefieiar~~ or T~{ustee s1~all be . party ~~nless bro~~gl~t by T~~ustee.
i
~~~I~T B-4 T~ ATTA~NIENT X0,11
To Rei~~nh~~~+se~~ent Areer~.ent deed of Tr«st
~ot~~~eco~~dahle Atta.chtnent
DoC5~~J1 ~1~~6'~3v~ 31~00~~~-0~0 ~
~HIBIT
PR~RA ~]~L~U~E S'~ATEN~~~~
Il~ve ~Horrrebrryer}
ulderstand alyd that the provlsiolr of ~nalrcial assistance frulrr fire ammunity
Redevelaprrrent Agency of fire pity of Salrta Ana {"Aerrcy"} under` Agency's Affordable
~Iousirlg rlrrple~~~el~tation Pro~ranr ~"Prograzr~"~ is corrditianal on a number of factors, i~nclrrding,
bll~ not I11I~lted tQ;
• Il~ve are brryrrr a sllrgle fa~rllly home ~~lthllr the ~lty of Santa. Alra, ~lriclr is
available to lrrelus at Affordable Harrsirrg host pursuant to Health Safety bode
Section 50~~,~
~ Il~ve l~rust qualify as a l~.ode~+ate Irrcarrre I~ousel~old pursuant to and as defined itr
tl~e alifornia Health 8~ Safety fade Sectialrs D~~~
* ~~~ve rrrust ~~ralify fog` a fi~•st nror'tgage lror~re loan fl'arn an ilrstitutio~~al letrder
acceptable to I]eveloper alyd Agency.
• ~l~e must pay at least three petcel~t ~3°Io~ of
the l~on~e pr~~~chase prico froln m~~a~~a~
~~vl] fi~lyds, except a atlrer~vlse pel•mitted by the Lerrdel',
# Il~~e lrrust qualify for assistance under' fire rridelines ofthe Pr'ograln,
Ile further ~~nderstand and agree tl~at;
• 11~~e will be r'espalrsible for; repaying the ~nalrce assistance pr'ovlded by Aez~cy~
If I1~~e comply with all of the recl~~irements of fire prog~•a~~, ~O~ve will a~ve rro
interest otr Hoebrrye~' Asslstalrce Loan and tl~e principal arrrou~xt tl~at ~1~ve a~ve to
the Aerrcy pursuant to the I'rogral~ mill be forgiven lrpalr the fal•ty-full ~~th~
antriversal'y of the date of the protrlissary date executed pursuant to the Prog~ia~~r~
~'he ~o~~rebuyer Assistance Loa~~ An~aurrt and the ot~titrge~~t equity
Participatio~~ An~ol~trt will be irnlnediately due and payable ~~pon sale or tl'alrsfer
of the P1'aper'ty ar if Il~ve refinance a~~r first ~nox~tgae lrarrre lawn ~~~itlro~~t the
Agency's ~~ritten approrral or ~f I~~~~e no lalrger occupy fire Property as nrylo«r
prilcipal residence ar I1~ve ale ilr default of any abligatio~~ under the Lawn
Areerrlent which is a part of fire Program, Il~ve understand that tl~e contingent
I~quity Partlclpatlorr Amount ~ interest orr the Ho~r~ebuyer' Assistance Lawn,
~~lricl~ ~~ill provide fire Ael~cy a sl~ar~e of the appreciation its fire value of the
Propert}T if ~l~~e seii, tra~~fer, ar 1'efilralrce tl~e Plopel'ty, Uwe acklro~vledge that a
~ol~tilrerrt ~q~zity Paz~t~cipation Alna~~lrt v~ili be payable by melus upo~~ the
occurrence of each and every evel~t as described llr Section l ,~~f~ of the Laan
Agreerrrent,
~ Il~ve lrlay pt`e~rel~t the Cantingent Lq~~~ty Pa1'tlclpatlarr Arna~xnt and fire pr'lrlclpal
amount of tl~e Nate fi~arrr beco~r~ixa due and payable by retaining the Property, or
~H~~~T D-1 T~ ATT'A~~NT N0, ~ ~ ~
TO Affordable Hamebuyer Loan Agreement
Pr;orarn Disclosure Statement
DOCS~~1~ ~~~~?3~~~ 31~0~~7~-~~~ 1
by selling ar atlrer~vise canveying the Property to a Moderate ~rrcome Ho~zseho~d
at ate Affordable Horzsrr~g host rn strict conformity Program requrrernents, This
r~ray restrrct the persons to ~vhon~ eve may sell the Praper;t~, at~d r~a~ ~+e~r~lt a
sales price ~vhrch rs less tlra~r the fal~• na~'1~et value of the Property.
• For ~ forty-five ~45~ year period, the ~'roperty nay at~ly be transferred to
N~aderate Ir7con~e Ho~~sehold at ate Affard~ble Ho~rsirrg Cost and the ~'~+operty
must be and remain owner-occupied, Ire rr~ylour sole discretion, Il~ve may elect to
ca~~se ate acceleration under the Note by tr~a~r~fer;r~in. t~~e ~'~~ope~~ty at a pi'ICe i~r
excess of an Affordable Ho~~sing host in consideration for paying the Agency the
ar~tingent ~~u~ty Particrpatran Ar~~ount,
• After tl~e forty-five ~~5~ year term of the Hon~ebrryer Assistance Loan, Il~ve may
sell tl~e Property to any person regardless of t~aeir incot~~e at tl~e Pr'operty's fair
n~arket value,
• ~~'~le Dave a right to cat~eel or ~'escir~d this loan at a~~y time prio~~ to tr~idniht on the
third business day after the ~o~~ Agt~eerne~~t is signed by sending a notice of
n~y~o~~r decision to ~~escind or cancel Horrreb~~yer~ Assistance Loan ta:
o~ntr~~~r~ity ~edevelaprnent Agency
of the pity of Santa Ana
~a ~rvrC tenter Playa
Santa Ana, California 9?a 1
Attentiot~~ Agency Executive director
• ~zring the terra of Hornebuyer Assistance Loan, ~l~ve intend to continuously
occ~~py tl~e Prope~~ty and I~~ve shall riot rent or lease the Property.
~ ~I~~e may be responsible for paying a~~ appraisal fee in connection with rny~our
sale transfer', oz~ re~~~ance of tl~e Prraperty, or if tl~e Note becomes due atYd
payable because I~4ve atnla~~e in default of any provisions of the Loan Agr;eerne~~t~
~ Agency shall not be heid responsible for any costs associated with tl~e Dome ~~~ve
purchase ~vrtli such assistance rncludit~g, but not limited to, any loan fees or
charges, airy charges far appraisals, or' at~y escrow costs or' other costs relating to
the transfer' of the Property,
• Agency cannot ensure that irrforrnatiorr provided by or on mylaur behalf ~~Till be
Dept cord
idential,
Agency shall rrot be respol~ible far the selection of a borne, the selection of a
leader providing funds assisting in the purchase of the borne, providing
infor•rnation carrcetrrirr other p~~blic or' pr;ivate sources of loa~~s, or the
competitiveness of the terms of rile Program. ~~~ve assume all ~+eponsrbilrty for
deter't~rrning whether Il4~e ~~ill infor•n~ myself~our+selves as to the availability and
terms of other public or private loans.
EHIB~T D-~ TO ATTA~.I~ENT N~,11
To Affordable Homebuyer~ Loan Agreement
Pr~or+am ~isclasure tternent
~0 ~DC11 ~~~G73 ~t 1312D~~72-DDD ~
• .enc~ st~al~ not be e1~at•ed ~~ith the ~no~v~ede of the contents ofthe daca~met~ts
of ~r~~lo~~~i primary lender,
• ~~eney has caused o~~~• purchase of tine Property fo be at an Affordable ousi~~g
Cost for a N~oderate ~t~come household, and thereby prodded ~nat~cia~ assistance
to melds ~~~1der tl~e P~•ogran~, ~~hicl~ tnay lie considered to he income for pu~•poses
of federal or state ~ncotne taxes and ~.eney shall not be l~eld responsible for fhe
pay~r~e~~t of at~~ taxes which ~l~e tray incur ley ~i~•tue of the receipt of sr~ch
financial assistance.
• fur ~Io~~tl~ly ~o~isii~ Costs n~a~t not exceed per tnontl~ i~~
ot•d~1• to ol~ta~n aslsta~lee fra~rl the Agency.
~~1RAl.J~ 1 a'~~4
~1?'~nted Natr~e~
B~,
Ptii rated Name;
PIIBIT D- ATTAC~NT NC,11
To Affordable l~o~~leb~x~er Loan Agree~ne~~t
Program Disclosure tatemet~t
Do C s0 Cl~ ~~~6?3 ~f ~ 3I20~~7~~~~D l
ATTA~HM~~IT ~i~,1~
oT~~ ~r ~~~~~~~L~T~ ~T~~T~o~v
ox~n~un~ty ~edo~elo~n~ent A~n~Y }
of tine i~ of Santa Ana ~
20 ivi~ eater{ ia~a ~
Santa Ana, aiifar~,nia 9~70~ }
At~n; E~e~~~~~ ~ir~ector~ }
T~~s doc~~aaent i e~en~p~ fr;ors
~a~ment of a tie~ordin fee
ur~uant o~ernnaent bode
Sections ~78~ and
N~TI~ ~F A~`~`ORDAB~LITY ~L~TITXN
TRA~`I~;R P~~P~I~T'~
Ti~is notice ofA.~`~or~dabiiit~ .estz{~ctions on ~'r#ansfer• ofrop~r~t~ {or• "~o~i~
of Aff~rda~ili~y Rstr~ic~ion"~ t eel~~d and reot~d~d urs~ant to
Section ~33~,~{{3}{B~ of the alifornia Health Safety bode as an~nded ~
AB 987, ~a~ter 690, Statutes of X007 {~~ereln, `~hpter X90"}, and affects
.
cet~tain real proper~t~ ener~ali~ ioe~ted ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ . ~ ~ ~ in tie it
of Santa Ana, ai~forn.~a a ieaiiy described in ~hibit A iaereto
{"~roer•~y"}, ornnaunit~ ede~eiopraaent Agency of file its of Santa Ana,
~~ixc bod cor• opiate and of rtrc enc , and ~ ~ : ~ ~ ~
~ ~ ~ ~ { ~
{~~~oraaeb~er4"~ iaave erater+ed into tiaat cer~ta~n ora~e~~~er Loan Agreement dated
as of ~ , ~ ~ ~ {"Hon~ebu~er Loan Agr~eerrrent"}.
I , Tine Honaeb~yer Loan Agreetrrent ~r~~ides for affordability
r~e~~r#iction anal r•o~tr~ict~on on fhe tria~nfer~ of fro ~ropor, a~ n~ar~e ~Oar~icuiarir~ yet
for~tla in tine Honaebuyer Loan Agreement. A copy of the Homebuyer Loan
A.remen.t i on file ~tb Agency as a ~ublie record and is deemed ineor~orated
herein, Reference is made to the Horebv~er• Loan Ar~eenaent v~itla regard to the
complete test of the provisions of sncb areera~ent and all defined terns therein,
laicia provides for affordability restrictions anal r~s~r;fiction on too tr{ansfor of too
proper,
ATTAHE~~~O. 1
~~~~~~Y~
The omebuyer Loan ~green~ent generally provides for• enc to
lend to Homeu~er and for or~ebuer to bor~ro~r fr~rrr ~genc~ loan in order
assist I~a~aebu~er{'s ~u~~~as~ ~f tie ProiO~r~y uruant ~o tie F~ia~~~r~ and pub
j~~t
to the terms and conditions set forth herein, For period or~r~encing upon the
date on which Hon~ebu~er~ acquires fee title to the Properly and terminating on the
for~tyM~ifth {~Sth} anniversary thereof, the Prope~~ty mad oni~ be transferred to
another eiig~ble, qualified Moderate Income Household at an Affordable Housing
host; such restrictions a~;e set forth t neater Irrth i~ a docu~e~t entitled
Affordable Housing resale Restriction {conditions, covenants, and restrictions
Affecting .eal Property and the Resale, ner~ship, occupancy, Maintenance, and
ether ~atter~s belated to Deal P~~ope~~t~}, st~~~tt~a~ly ~n #~e farFrrr of Exhibit "I"
to the Ho~~~ebuyer~ loan Areerrrent {{`Affordable ~ouir~ Resale Restrictions'},
~rhich has been entered into and between Agency and on~ebuyer, and which is
expected to be ~;eco~4ded substat~tiall~ cor~eur~~ienti~ hetieith~ ao~ the ~~"ic~al
~.ecords of ~ra.nge ount~, alifornia~ The Affordable Housing resale
restriction and the Hotnebuyer Doan Agree.ent are deemed to be incorporated
herein by r~eferience~
Section ~ of the ~4ffordble dousing Resale Restriction provides as
follows
Pe~•ml~~ed Sales of the Propcrt~, Agency hereby permits sales
of the Ptiopet; to ~~;o~osed Transferees mho ~r;e Moderate Zn.conae ousehalds,
and are approved in accordance with this Section prodded the Sales price does
not exceed an Affordable dousing host to such propased Transferee {"i'er{x~aitted
~'r*ar~sfers"~~ Ire the event that ~or~eb~r~e~~ desir{es to T~~~rrs~'er~ the F~~oper~ d~r~i~
the Affordability Period, prior to the Transfer the owner shall notify Agency by
delivering a Notice of Intent to Transfer to Agency, which shall indicate the
identity of the proposed Transferee mho desires to purichase the Property, whether
the purchaser is Moderate Income Household, and whether}the sales price is at ~n
Affordable Housing host. Zn addition to Hon~ebuyer's and the proposed
Transferee's deliver{~ of tl~e Notice of Intent to Transfer, the following procedure
shall apply:
notice to Agency. Hamebuyer shall send the Notice of Xntent
to Transfer to A.enc at the adalr{ess set ~'orh in Section 4~
l~~lf~ca~io~r of P~•opose~ Trnsfc~•ee. The proposed
Transferee shall provide Agency vrith sufficient information in the form provided
by Aenc~r including without litnitation, a certification as to the income and fancily
size of the proposed Transferee, for Agency to deterimine if the proposed
A'~TAH~ENT N~. 2»~
DoCoCf ~ ~~~673v131~~0~"~~-0~~ 1
l ~
T~•ansfe~;ee is N~oderate .come Household, and the pu~~•chae pt•ice is at an
Affordable Mousing host,
c, rtifica#es from taxi#ies, Homehuyez• and p~ioposed
T~•ansfe~•ee each shill ce~•tify in z•iting, in a ~a~;m ~ceptable ~o ~.enc, the t~~
T~•a~fer shall be closed in aeeot~dance with, and only with, the texin~s of the sales
cont~iact and other documents subn~ztted to aid app~•o~ed Agency and that all
consideration deli~e~~ed by the p~•opased Tr~nsfe~•ee to one~• has been full
disclosed to Agency The ritte~ ce~~ti~cate shall also include a pra~ision that in
the event a Transfe~• is nude in violation of the terms o~'this Restriction or false o~i
misleading statements are wade in an docu~ents or cc~•tificate subn~it~ed to
y
Agency fo~• tts approval of the T~~ansfer, Agency sha11 have the ~~iht to file a~.
aetian at lam ot• in, equity to ~~al~e the pa~•ties terminate andlor ~•escind the sales
contract andlor decla~;e the sale void n~tithtanding the fact that the Transfer many
have closed and heco~ne final as between ~o~.ehuyer and Trar~sfe~•ee,
d, ~~~##en orrse~~# of Agency ea~~ii~•ed ~c~`a~c T~+ansfe~~,
During tl~e Affoz~dability Pe~{iod, the p~ioperty, and any interest therein, shall not be
conveyed by ar~y Transfer except v~ith the expz~ess written consent of Agenc ,
y
which consent shall be given only if the T~•ansfer is accorda~.ce with the
provisions ofthis Restrictian• This p~•a~ision shall not prohibit the e~cumherin of
title for the sale purpose of securing financing of the pu~4chase price o the
F~ioperty,
e~ No#ice of Prohi~~~ed T~#ansfer, Within tv~e~ty days aver
~}ecei~ring natlfic~tion of ~ praasecl T~i~.~s~'e~# i~ acco~id~nee ~lt~i eetla~ 4a,,
Agency shall determine and give notice to ~Io~nebuyeti as to whether the p~iaposed
Tz~ansfer is a permitted Transfer or P~*ohihited T~{~ns~`e~~, ar hethe~• the T~i~sfe~i
mould cause are acceleration under the dote unde~• ection~ I .f. of the Ag~•eement, in
which case, upo~~ Ha~r~ebuyer's py~~ent of the ontinge~at Eq~~ity pa~~ticipation
Amount as set forth in ectian of the Ag~;eement such Transfez~ mould be deemed
a perrrlitted Transfe~~. In the event that the proposed Tra~~sfe~• is P~•ohibited
Transfer, such notice to Homebuye~• shall specify the nature of the Prohibited
T~•ansfer. the violation is not cor~•ected to the satis~'action of Agency within ten
~ 1 a~ days a~e~• the date of the native, or within such fu~~ther tlnae as Agenc
dete~•mines is necesa~~y to car~•ect the violation, Agency nay declare a default
under this estrictto~• Hpan the decla~•ation of . Default, Agency nay appl to a
Y
court of competent ~u~•isdiction for specific perforn~a~ce of this Restriction, fa~i an
injunction ~~;ohibitin a ~ropased sale a~• Tt•ansfe~; in violation a` t~.is Restrtetion,
foz~ a dcla~•ation that the prohibited T~•ansfer is void, or fo~• any such othe~* relief as
may be appropriate,
ATTACH~~T ~a~ ~ ~-3
D~s~Cll ~OO~i7~4t~31~~~~7~-~00~ F
I
~lelr~e~ of Doc~~nents, ~J~an the close of the p~~o~osed.
T~"nsf~t*, Hon~e~u~e~~ end T~"ansf~~"~, ~pli~~.~~e, ~h~l p~"o~icl~ ~h~ ~en~~ i~h
eop~ of the final sales c~nt~`aet, settlement statement, esc~•o ~n~x"uctlons, all
eertifietes recul~"e~ b~ this ~ectian ~ ~.n and other alocuments Rene n~~
~•egest~"
4, The rest~`ictions can.ta~ne ~n the Af~`o~`dabi ~a~sin l~es~le
Restriction corr~mence ~~an the date an hieh Hon~eb~~~er aqui~*~ fie tl~i o the
Pra~et~y and tern~lnate on the fo~~~~fi~h ~~Sth} ~nni~ersa~~~ thereof,
..........The . ca~moni~ . ~no~v~ d~~~esses for the ~~io~ert~ is
.
,
, The ~.sessor's ~a~~cel nu~nbers fir tl~e ~z"ope~~~ is
7. The legal ese~"iption of the l~~"operty i~ fi~aehe~ he~~e~o a~ ~~~.ehn~n
a, I and. is ineo~`porated he~•eln b~ ~"eference,
The ffo~"l~ ~o~in l~eale ~e~ri~ion, Bch Includes the
ffo~~dahillt~ ~•e~~;l~~io~ ~`~fe~i~nee~ ab~~e, is ep~~~e~ ~o be ~uhmit~ed far
~"~~or~ion ln~ the ~f~ce of the ~t~.n~ oun ~.ecor"der con~~n~po~"neou~~ ~l#~~
this notice of
Afforolabili 1~~~;iion~,
This Notice of Af~~~"~~.~iii est~~~c~ior~ l ln~ende~ n~~iei~ ~o ~i~
the re~ui~"ements of chapter 9~ of the l'~, The ~Iomeb~er Loan ~reement
and the 1~f~'a~#dah~e dousing Rasale Re~~"i~~i~n bath ~•emaln in foil fo~•c n~ e~'~'ec~
and t;e not amended oz~ alter"ed in and ~nanner hatsoe~e~~ b~ this Notice of
A~f~'araiabilit Rest~`ictions,
i capitalized te~;zx~s shall have the n~eanln established sunder the
Iomebu~er Loan teeme~t ~incl~~din all Attachments they"etas excepting only to
the extent as otherwise e~pressl~ ~~"ovided un~e~i phis notice ~f Affoz~alablli
~~5~~"I~1~~~.
~ ~ , Pe~`sons haying questions regarding this notice of Affardabilit
~es~x{ie~lon, the I~~n~eh~e~~ Haan ~.~ieen~n~ ot~ the ~ch~ens the~~eta
~inciuding the Affordable dousing ~.esale ett"fiction} houl~ contact ~eney ~t its
offices i~ic tenter l~la~a, .nta Any,, alifo~"nia ~7a1, or uel~ other adaiz"ess
mad be designated b Agency ft"otr~ ti~r~ to tine}.
~TT~~H~I~NT N~,12-4
D~CDCIi ~0~6?~tif~ 31~~~~72-DDO ~
~ig~at~~r~ block be~~a~ o~ follow page,
ATT~~HNT N~, l -5
D~COC~~~~~~73v1~12~~27~-~0~1
V 1
~'~tl~~~ ~~~l~r
AEA:
~~VI~xT EDE~EL~~ET
AEI~~ T~~ QTY OE SANTA
AAA, pl~~ ~oa~y, corp~~~~.fe ~d ol~~ic
~n~~~ ,T, Nelson
E~e~~~~e I~~~~e~a~+
ATTEST;
Iat1~a ui~a~•, ~tik off' ~~e ouncit
APPI~~' AS T~ F~RNI:
S~~~dlir~ Rocca ~~~so~ l~u~~,
en~~ ec~al ounsol
ATTACE~T ~ w
a
EXHIBIT A
LEGAL DESCRIPTION
~~O ~0 tElS61"~CC~~
EXHIBIT A TO ATTACHMENT NO. 12
DOCS4C/144Q673v13/200272-0Ofl l
80A-332
ATTA~E~T ~t
LIST D~~L~PI~R' ~l~C~LTAT
~LIILI~~ T~ BE I~ILI~D~D Y TI31~~ THIRD ~~~T~ CASTS}
1 ~ LAS Haldl~~, LLC
lty ~~~~~~~~•e~
~ ~ ~an~ Hez~al~~a~ch As~ociaes, ~nc~
5, Fl~scae ~nir~eer`ir~g, InC,
iI`~~n ~t1~aSallt'
7. ~~+el~et~a Assaciates
~oca~~~~y ~mdet~ a~van Ismail A~'nd~, LLP
9. Cor~card C~~a~~p
Tire ~ s~~ far~l~ in fhi~ A~tacl~r~~et~f may be ex~~~t~~~d ~a add additianal canst~l~ants pra~icled
~~ec~~~i~ I~irec~a~~ afAge~~~y app~•o~~e~ its ~~~~iti~ De~~lap~~#~ p~+apased ne~~ ~ansultant,
A'I~`~~~H~~T ~~.1 ~
DD~S~~II ~~~~73~t13~~~~272-~~~ ~
f
i
I
f~
E
i