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the Community Redevelopment Law of the State of California, as amended including, without
<br />limitation, by Parts 1.8 (commencing with Section 34161) and 1.85 (commencing with Section
<br />34170) (the "Law"), and pursuant to the provisions of the Indenture of Trust, dated as of
<br />[DATED DATE], by and between the Agency and The Bank of New York Mellon Trust
<br />Company, N.A., as trustee (the "Indenture").
<br />[Simultaneously with the issuance of the Bonds, the Agency is issuing its Successor
<br />Agency to the former Community Redevelopment Agency of the City of Santa Ana Tax
<br />Allocation Refunding Bonds, Series 2018B (Federally Taxable) (the "Series 2018B Bonds"), in
<br />the aggregate principal amount of $YY,000,000]. The Bonds are on a parity with the Series
<br />2018B Bonds.] Pursuant to and as more particularly provided in the Indenture, Additional Bonds
<br />may be issued by the Agency payable from Tax Revenues as provided in the Indenture.
<br />All Bonds are equally and ratably secured in accordance with the terms and conditions of
<br />the Indenture, and reference. is hereby made to the Indenture, to any resolutions supplemental
<br />thereto and to the Law for a description of the terms on which the Bonds are issued, for the
<br />provisions with regard to the nature and extent of the security provided for the Bonds and of the
<br />nature, extent and manner of enforcement of such security, and for a statement of the rights of
<br />the registered owners of the Bonds; and all the terms of the Indenture and the Law are hereby
<br />incorporated herein and constitute a contract between the Agency and the registered owner from
<br />time to time of this Bond, and to all the provisions thereof the registered owner of this Bond, by
<br />his acceptance hereof, consents and agrees. Each registered owner hereof shall have recourse to
<br />all the provisions of the Law and the Indenture and shall be bound by all the terms and
<br />conditions thereof.
<br />The Bonds are issued to provide funds to aid in refunding outstanding bonds of the
<br />Agency as more particularly described in the Indenture. The Bonds are special obligations of the
<br />Agency and are payable, as to interest thereon, principal thereof and any premiums upon the
<br />redemption thereof, exclusively from the Tax Revenues (as that term is defined in the Indenture
<br />and herein called the "Tax Revenues"), and the Agency is not obligated to pay them except from
<br />the Tax Revenues. The Bonds are equally secured by a pledge of, and charge and lien upon, the
<br />Tax Revenues, and the Tax Revenues constitute a trust fund for the security and payment of the
<br />principal of, premium, if any, and the interest on the Bonds.
<br />The Agency hereby covenants and warrants that, for the payment of the principal of,
<br />premium, if any, and the interest on this Bond and all other Bonds issued under the Indenture
<br />when due, there has been created and will be maintained by the Trustee a special fund into which
<br />Tax Revenues shall be deposited, as provided in the Indenture, and as an irrevocable charge the
<br />Agency has allocated the Tax Revenues solely to the payment of the principal of, premium, if
<br />any, and the interest on the Bonds to the extent set forth in the Indenture, and the Agency will
<br />pay promptly when due the principal of, premium, if any, and the interest on this Bond and all
<br />other Bonds of this issue out of said special fund, all in accordance with the terms and provisions
<br />set forth in the Indenture.
<br />The Bond shall be subject to redemption on the dates, in the amounts and in the manner
<br />provided therefor in the Indenture. [The Series 2018B Bonds are not subject to optional
<br />redemption.]
<br />4150-2542-5420.3 A-2
<br />40990-25
<br />SA -3-85
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