OPA: Grimshaw House - City of Anaheim

C. In accordance with Section of the DDA, Agency has caused to be recorded
against the Site that certain Declaration of Covenants, Conditions, and Restrictions (i)
dated as of and (ii) recorded as Instrument No.
in the Official Records of the County of Orange, State of California on
, (the “Declaration”).
D. As referenced in Section of the DDA, Agency is required to furnish
Developer or its successor or assigns with this Release to be recorded against each
Housing Parcel concurrently with the closing of the “Initial Sale” for such parcel (as such
term is defined in the DDA). This Release is required to be in recordable form and serve
as conclusive determination of the satisfactory completion of Initial Sale of each Housing
Unit required under the DDA. Upon recordation of this Memorandum, any party then
owning or thereafter purchasing, leasing or otherwise acquiring any interest in the
Housing Parcel against which this Release has been recorded shall not (because of such
ownership, purchase, lease or acquisition) incur any obligation or liability under the DDA
except for those continuing covenants and restrictions which have been memorialized in
the Declaration.
E. Agency has conclusively determined that the construction of the Developer
Improvements and the conduct of the pertinent Initial Sale have been satisfactorily
completed.
NOW, THEREFORE, AGENCY HEREBY CERTIFIES AS FOLLOWS:
Section 1. Initial Sale Completed. The Initial Sale of the Housing Parcel by Developer
have been fully and satisfactorily completed in conformance with the DDA.
Section 2. Release of Memorandum. The Memorandum is hereby terminated and released
from the Property. Upon recordation of this Release, any party then owning or thereafter
purchasing, leasing or otherwise acquiring any interest in the Property shall not (because of such
ownership, purchase, lease or acquisition) incur any obligation or liability under the DDA except
for those continuing covenants and restrictions as set forth in the Declaration, which shall remain
in full force and effect, enforceable according to their terms.
Section 3. Release not a Notice of Completion. This Release does not constitute evidence
of compliance with or satisfaction of any obligation of the Developer to any holder of a mortgage
or any insurer of a mortgage securing money loaned to finance the work of construction of the
improvements and development of the Site, or any part thereof. This Release is not a notice of
completion as referred to in California Civil Code Section 3093.
IN WITNESS WHEREOF, AGENCY HAS EXECUTED THIS RELEASE AS OF THE
DATE SET FORTH BELOW.
Attachment No. 11 B - Page 2