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CITY HOME LOAN NOTE SECURED BY SUBORDINATED DEED OF TRUST TO THE CITY OF SANTA ANA, CALIFORNIA (2530 & 2534 Westminster Avenue, Santa Ana, California) $2,003,705 1. PRINCIPAL AMOUNT OF LOAN. May 26, 2022 Santa Ana, California For value received, WESTVIEW HOUSE LP, a California limited partnership ("Borrower") promises to pay to the order of THE CITY OF SANTA ANA ("City"), at 20 Civic Center Plaza, 66' Floor, Santa Ana, California 92701, or at such other place as the City may from time to time designate in writing, or to the assignee of the City, the principal surn of TWO MILLION, THREE THOUSAND, SEVEN HUNDRED AND FIVE DOLLARS AND NO CENTS ($2,003,705.00) or so much thereof as shall be disbursed hereunder, with three percent (3%) simple interest per antrum and commencing from the date of issuance of the Certificate of Completion. City and Borrower have heretofore entered into that certain Loan Agreement dated concurrently herewith (the "Loan Agreement"), pertaining to the acquisition, rehabilitation and/or construction of certain real property described in the Loan Agreement as the "Property," connnornly known as 2530 and 2534 Westminster Avenue, Santa Ana, California, and the operation of the Property as affordable housing for Extremely -Low and Low Income households. This City HOME Loan Note (the "Note") is made pursuant to, entitled to the benefits of and referred to as the City/HOME Loan Note in the Loan Agreement; that certain "Affordability Restrictions on Transfer of Property" between Borrower and City, dated on or about the date hereof; and that certain Subordinated City/HOME Deed of Trust and Assignment of Rents by Borrower for the benefit of City, dated on or about the date hereof (the "City Deed of Trust"). This Note, the Loan Agreement, the City Deed of Trust and the Affordability Restrictions on Transfer of Property are sometimes collectively referred to herein as the "Loan Documents." The Loan Documents and the rights and responsibilities thereto inure to the benefit of the City. Any capitalized term that is not otherwise defined herein shall have the meaning ascribed to such term in the Loan Agreement. 2. DEFINITIONS. For the purpose of calculating the payments to be made by Borrower to City pursuant to this Note, the following terms shall have the following respective meanings: "City Loan" shall mean the loan evidenced by this Note. "City's Percentage" with reference to the Residual Receipts, shall mean 50% [or the prorated percentage of the total amount of funds contributed after Borrower retains fifty I Westview House City HOME Loan Note