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<br />'/' <br /> <br />. <br /> <br />I <br /> <br />. <br /> <br />I <br /> <br />BEL:adg <br />4/9/80 <br />Bev.5/7/80 <br /> <br />REVOLVING LOAN AGREEMENT <br /> <br />THIS AGREEMENT, made and entered into this <br /> <br />day of <br /> <br />, 1980, by and between the <br /> <br />Community Redevelopment Agency of the City of Sant6 Ana, a <br /> <br />public body, corporate and politic ("AGENCY"), and <br /> <br />Sylvia Jackman, James A. Jackman, Karen Jackman, Richard <br /> <br />Jackman, Nadine Jackman, Andrew Jackman, Joann Jackman, and <br /> <br />Robert Jackman ("PARTICIPANT"), <br /> <br />W-I-T-N-E-S-S-E-T-H <br /> <br />Recitals: <br /> <br />A. <br /> <br />AGENCY and PARTICIPANT have previously <br /> <br />entered into that certain agreement entitled "Commercial <br /> <br />Rehabilitation Participation Agreement," dated <br /> <br />, 19 -' hereinafter referred to as "said <br /> <br />agreement," the purpose of which is to cause the <br /> <br />rehabilitation of the improvements on PARTICIPANT'S real <br /> <br />property as therein described. <br /> <br />B. <br /> <br />In accordance with said agreement, <br /> <br />PARTICIPANT is obligated to seek financing for said <br /> <br />rehabilitation work, and, if approved, PARTICIP~NT will <br />thereafter become obligated for certain costs and will <br /> <br />experience certain income losses prior to permanent <br /> <br />financing. <br /> <br />C. <br /> <br />The parties hereto desire to provide for a <br /> <br />noninterest bearing loan from AGENCY to PARTICIPANT on the <br /> <br />. terms and conditions herein stated to defray the costs and <br /> <br />losses as aforesaid and for the method of repayment of said <br /> <br />loan. <br /> <br />13 <br /> <br />58 <br />