CARIBOU INDUSTRIES (13) - Laserfiche WebLink

Home Browse Search

(b) "Budget" means the budget agreed upon by the City and Borrower for the City Funded Improvements required by the City as conditions of regulatory agreement for the Project, as shown in the Public Improvement Scope of Work attached hereto as Exhibit "C" and incorporated herein by this reference. (c) "City" means the City of Santa Ana, a California charter city in the County of Orange of the State of California. (d) "City Funded hnprovements" means: (i) demolition of the existing three (3) level parking structure located on the Property; (ii) preparation of the Project site for construction to a rough grade condition; (iii) construction of the Public Parking Parcel; and, (iv) construction of the private street recormecting Sycamore Street between 3rd Street and 4th Street. (e) "Deed of Trust" is the Deed of Trust, Assignment of Rents, Security Agreement, and Fixture Filing executed by Caribou as security for repayment of the Public Improvement Loan pursuant to the terms of the Promissory Note. The form of the Deed of Trust is attached hereto as Exhibit "E" and incorporated herein by this reference. (0 "Event of Default" has the meaning set forth in Section 5.1. (g) "Indemnified Parties" means the City and its council, commissions, agents, attorneys, officers, employees and authorized representatives. (h) "Loan Documents" means this Agreement, the Promissory Note and the Deed of Trust. (i) "Personal Guarantee" Michael Harrah has agreed to personally guarantee the City's loan of Thirteen Million Dollars ($13,000,000.00) to Borrower. The Personal Guarantee will be in the form attached hereto as Exhibit "F". 0) "Promissory Note" means the promissory note that will evidence the terms under which Borrower is required to repay the Public Improvement Loan. The Promissory Note will be in the form attached hereto as Exhibit "D". (lc) "Project" means the Mixed Use Project including 171 residential apartment units, commercial (including retail and food/beverage establishments), a seventy-five (75) room Hotel Project and rooftop amenities ancillary to the residential and hotel uses, and a Parking Structure which will contain 444 total parking spaces including 211 public parking spaces in accordance with the City Approvals and all related and subsequent City Approvals, (1) "Public Iunprovement Loan" means that certain loan made by City in the amount not to exceed Thirteen Million Dollars ($13,000,000.00) to Borrower to be used solely for the constriction and installation of the City Funded Improvements, which loan is made pursuant to the terms and conditions of this Agreement. Section 1.2 Exhibits. The following exhibits are attached to this Agreement and incorporated into this Agreement by this reference: Exhibit A: Legal Description of the Property. 55394.00049W 0884 [70.6