HomeMy WebLinkAboutORANGE HOUSING DEVELOPMENT CORPORATION - 2009b
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MODIFICATION OF TERMS OF NEIGHBORHOOD
STABILIZATION PROGRAM
RENTAL HOUSING DEVELOPMENT AGREEMENT
THIS MODIFICATION, effective as of the 1st day of February, 2014, by and between Orange Housing
Development Corporation, a non - profit 501 (c) 3 organization and C &C Development Co., a Limited
Liability Company (collectively "Developer ") and the City of Santa Ana, a charter city and municipal
corporation duly organized and existing under the Constitution and laws of the State of California ( "City"}
RECITALS
A. The City and Developer entered into that certain Neighborhood Stabilization Program Rental
Housing Development Agreement (Agreement A# 2009 -036), hereinafter referred to as "said
Agreement ".
B. The parties hereto now desire to modify the Termination clause of said Agreement.
WHEREFORE, in consideration of the mutual and respective covenants and promises hereinafter
contained and made, and subject to all of the terms and conditions of said Agreement as hereby modified,
the parties hereto do hereby agree as follows:
I. Section 806. "Termination" is hereby removed completely and replaced with the following
wording: "This Agreement shall terminate upon mutual agreement of the parties, failure to cure a
material breach after notice and time to cure, or expenditure of all NSP related funds"
2. Except as hereinabove modified, the terms and conditions of said Agreement remain unchanged
and, in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Modification effective as of the date
and year first above written.
APPROVED AS TO FORM:
BY:6 ..
Lisa E. Storck
Assistant City Attorney
DEVELOPER CONSENT:
Orange Housing Development Corp.
Eunice Hobert, CEO
CITY OF SANTA ANA
BY.
David Ca azos
City Manager
ATTEST:
Maria Huizar, Clerk of the uncil