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EXHIBIT C <br />COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA <br />TAX ALLOCATION BONDS (MERGED PROJECT AREA) <br />2011 SERIES A <br />DATED FEBRUARY 4, 2011 <br />NOTICE OF DEFEASANCE <br />To holders or owners of the Community Redevelopment Agency of the City of Santa Ana Tax <br />Allocation Bonds (Merged Project Area), 2011 Series A, of which $64,840,000.00 aggregate principal <br />amount is currently outstanding (the "Defeased Bonds"): <br />Maturity Date <br />September 1, <br />Principal <br />Amount <br />Interest <br />Rate <br />Defeased <br />CUSIP No. CUSIP No. <br />2019 <br />$ 2,735,000 <br />5.25% <br />801095LA6 <br />2020 <br />2,125,000 <br />5.50 <br />801095LB4 <br />2020 <br />3,350,000 <br />6.00 <br />801095LC2 <br />2022 <br />12,915,000 <br />6.00 <br />801095LDO <br />2024 <br />1,900,000 <br />6.50 <br />801095LG3 <br />2024 <br />14,005,000 <br />6.25 <br />801095LF5 <br />2028 <br />27,810,000 <br />6.75 <br />801095LK4 <br />The Successor Agency to the former Community Redevelopment Agency of the City of Santa Ana <br />(the "Successor Agency") has defeased the Defeased Bonds pursuant to [Article X] of its Indenture of Trust <br />dated as of February 1, 2011 (the "Indenture") providing for the issuance of the Defeased Bonds, by <br />depositing [federal securities] with The Bank of New York Mellon Trust Company, N.A., as escrow agent <br />(the "Escrow Agent'), sufficient to secure and accomplish the payment of principal of and interest on the <br />Defeased Bonds until March 1, 2021 (the "Redemption Date"), and on that date to redeem all the Defeased <br />Bonds maturing on and after September 1, 2022. Any capitalized term used but not otherwise defined in <br />this Notice of Defeasance shall have the meaning assigned to such term in the Indenture. <br />With the deposit of such federal securities with the Escrow Agent, the Owners of the Defeased <br />Bonds cease to be entitled to the pledge of the Tax Revenues (as defined in the Indenture) and the other <br />assets as provided under the Indenture, and all agreements, covenants and other obligations of the Agency <br />to the Owners of the Defeased Bonds under the Indenture have ceased, terminated and become void, <br />discharged and satisfied. <br />The Defeased Bonds maturing on or after September 1, 2022 will be redeemed, after the mailing <br />of a notice of to the Owners of the Defeased Bonds for the redemption of such bonds on the Redemption <br />Date, at the principal amount thereof without premium. <br />C-1 <br />4142-5877-7620.1 <br />SA -3-140 <br />