CORNERSTONE HOUSING PARTNERS LP (3)

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AMENDED AND RESTATED HOUSING SUCCESSOR AGENCY LOAN AGREEMENT THIS AMENDED AND RESTATED LOAN AGREEMENT (this "Agreement") dated, for identification purposes only, as of September 17, 2019, is made and entered into by and between the Housing Authority of the City of Santa Ana serving as the Housing Successor Agency to the former Community Redevelopment Agency, a public body, corporate and politic ("Housing Successor Agency" or "Agency") and CORNERSTONE HOUSING PARTNERS LP, a California limited partnership, with reference to the following: RECITALS: A. Developer is the owner of that certain real property located at 805, 810, 815, 816, 825, 828, 835, and 904 S. Minnie Street, Santa Ana, California and commonly referred to as the Cornerstone Apartments, and legally described in Exhibit A attached hereto and incorporated herein by reference ("Property"). B. The Community Redevelopment Agency of the City of Santa Ana ("CRA") and Wakeham-Grant Apartments, L.P. (the "Original Developer") previously entered into the Tax Increment Loan Agreements recorded in Official Records of Orange County and the Owner Participation Agreements (collectively, "Housing Successor Agency Loan Agreements") described in Exhibit G. C. The purpose of said Housing Successor Agency Loan Agreements was to assist with the rehabilitation of a 126-unit residential housing development on the Property ("Project'). D. The CRA was established as a redevelopment agency that was previously organized and existing under the California Community Redevelopment Law, Health and Safety Code sections 33000, et seq., and previously authorized to transact business and exercise powers of a redevelopment agency pursuant to action of the City Council of the City of Santa Ana ("Agency"). E. Assembly Bill xl 26 added Parts 1.8 and 1.85 to Division 24 of the Health and Safety Code ("Dissolution Act'), which laws caused the dissolution and wind down of all redevelopment agencies as of and on February 1, 2012. F. The CRA is now a dissolved redevelopment agency pursuant to the Dissolution Act. G. By a resolution considered and approved by the City Council at an open public meeting, the Agency chose to become and serve as the successor agency to the dissolved CRA under the Dissolution Act, as of February 1, 2012. H. By another resolution considered and approved by the City Council at an open public meeting on January 9, 2012, pursuant to section 34176 of the Dissolution Act, the Housing Authority of the City of Santa Ana (CA093) ("Housing Authority") accepted 2