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1718 -HN -003 <br />SECOND AMENDMENT TO LOAN ACREEMENT <br />HOME PROGRAM <br />THIS SECOND AMENDMENT TO LOAN AGREEMENT is made and entered into this I Orh <br />day of May, 2018, by and between the City of Santa Ana, a charter city and municipal <br />corporation (referred to herein as "City") and Guest House LP, a California limited partnership <br />(referred to herein as "Developer"). <br />RECITALS <br />A. City and Developer executed a Home Program Loan Agreement on July 22, 2016, <br />to assist in the acquisition and rehabilitation of 2.151 E. First Street, Santa Ana, <br />California. Thereafter, City and Developer executed a First Amended and <br />Restated Loan Agreement pertaining to the same property. <br />B. The parties desire to amend said First Amended and Restated Loan Agreement to <br />correct the bedroom unit and affordability mix. <br />NOW THEREFORE, in consideration of the mutual and respective promises, and subject to the <br />terms and conditions of the First Amended and Restated Loan Agreement, except as herein <br />modified, the parties agree as follows: <br />Ill <br />Section 7.1, Paragraph B, shall be amended to correct the number of studio units <br />from fifty-eight (58) to sixty (60), and the number of one -bedroom units #corn <br />fourteen (14) to twelve (12). The table specifying the affordability mix shall be <br />amended to correct the number of studio units at 60% Area Median Income <br />(AMI) from zero (0) to two (2), and the number of one -bedroom units at 60% <br />AMI from nine (9) to seven (7). <br />2. Exhibit G, Affordability Restrictions on Transfer of Property, Section 3.1, <br />Paragraph B, shall be amended to correct the number of studio units from fifty- <br />eight (58) to sixty (60), and the number of one -bedroom units from fourteen (14) <br />to twelve (12). The table specifying the affordability mix shall be amended to <br />correct the number of studio units at 60% Area Median Income (AMI) from zero <br />(0) to two (2), and the number of one -bedroom units at 60% AMI from nine (9) to <br />seven (7). <br />Except as hereinabove modified, all terms and conditions of the First Amended <br />and Restated Loan Agreement shall remain in full force and effect. <br />Page 2 of 4 <br />