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<br />. . <br /> <br />REL:adg <br />11/4/80 <br /> <br />RECORDING REQUESTED BY: <br /> <br />. <br /> <br />The Community Redevelopment Agency <br />of the City of Santa Ana <br /> <br />WHEN RECORDED, MAIL TO: <br /> <br />Community Redevelopment Agency <br />of the City of Santa Ana <br />20 Civic Center Plaza <br />Santa,Ana, CA 92701 <br /> <br />FIRST AMENDMENT TO PARTICIPATION AGREEMENT <br /> <br />THIS AGREEMENT, made and entered into this 17th <br /> <br />day of <br /> <br />November <br /> <br />,1980, by and between the <br /> <br />COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, a <br /> <br />public body, corporate and politic (hereinafter referred to <br /> <br />as "Agency"), and JONES DEVELOPMENT CORPORATION, a <br /> <br />. <br /> <br />corporation organized under the laws of the State of <br /> <br />California (hereinafter referred to as "Participant"), <br /> <br />W-I-T-N-E-S-S-E-T-H <br /> <br />Recitals: <br /> <br />A. <br /> <br />Agency entered into a Participation <br /> <br />Agreement, dated September 17,1979, with Participant by <br /> <br />which Participant undertook to develop a site therein <br /> <br />specified pursuant to the Redevelopment Plan of the Santa <br /> <br />Ana Redevelopment Project. <br /> <br />Said agreement is recorded in <br /> <br />Book 13331, Page 338, of the Official Records of Orange <br /> <br />. <br /> <br />County, and is hereinafter referred to as the "Participation <br /> <br />Agreement." <br /> <br />B. <br /> <br />In accordance with the terms of the <br /> <br />Participation Agreement, Agency has proceeded with the <br /> <br />acquisition of the parcels identified in Section VII.D. of <br /> <br />the said agreement and has m~de calls for advances of funds <br /> <br />as therein provided, in the total amount of six Hundred <br /> <br />Sixty Five Thousand Dollars (665,000.00). <br /> <br />C. <br /> <br />As a result of high interest rates beyond <br /> <br />"pro forma" limits, Participant has failed to provide Agency <br /> <br />with the advances of funds thus called for by Agency, in <br /> <br />. <br /> <br />t~q <br /> <br />411 <br />