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recorded against the Property on September 26, 1996, in the Official Records of the County of Orange, as Document No. 19960490978, as amended by that certain Amended Agreement Between the City of Santa Ana and Developer for Use of Community Development Block Grant Funds For Rental Housing, which was dated March 1, 2001, and recorded against the Property on May 21, 2001, in the Official Records of the County of Orange, as Document No. 20010326934 (together, as amended, the "Loan Agreement"). C. Pursuant to the Loan Agreement, the Successor Agency committed to provide a loan to Developer in the aggregate principal amount of $912,265 to assist with the predevelopment budget for an affordable housing project to be developed on the Property. D. Pursuant to the terms of an Amended Promissory Note Secured by Deed of Trust entered into in connection with the Loan Agreement (the "Note"), Developer promised to pay the Successor Agency the sum of $916,265, unless forgiven by the Successor Agency. E. The Loan was forgiven by the Successor Agency on January 31, 2023, as evidenced by a letter from the Loan servicer to Developer dated February 1, 2023. F. Accordingly, the Successor Agency and Developer now mutually desire to release and terminate the Loan Agreement and Note. RELEASE AND TERMINATION NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein and made a part hereof, and the covenants and promises hereinafter contained, and other good and valuable consideration, the receipt and sufficiency of which is acknowledged by the Successor Agency and the Developer, the Parties hereto agree as follows: The Loan Agreement and the Note are hereby terminated and released. 2. Notwithstanding the foregoing, nothing herein is intended to or does release or terminate any covenants, conditions, or restrictions contained in any other instrument recorded against the Property, all of which shall survive the recordation of this Release and Termination.