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<br />, <br /> <br />" . <br /> <br />. . <br /> <br />. <br /> <br />. <br /> <br />Broadway Improvement Company, Inc. <br />Page 2. <br /> <br />------------------------------------------------------------ <br /> <br />writing: seventy cents ($0.70) per square foot. In <br />addition, prior to the funding of the Permanent Loan by the <br />Agency, leases of the property and improvement shall be in <br />place which are adequate to provide an aggregate rental <br />income of at least $5876.25 per month. <br /> <br />7. Prior to or concurrent with your acceptance of <br />this Permanent Loan Commitment, you must pay the following <br />amounts to the Agency, or execute and deliver to the Agency <br />the enclosed Promissory Note for the sum thereof: <br /> <br />Professional Services Cost: <br /> <br />Reimbursement per Section 12(b) <br />of the Participation Agreement... $ 8,476.00 <br /> <br />2% Fee per Section 15 of the <br />Participation Agreement ........ <br /> <br />10,100.00 <br /> <br />TOTAL <br /> <br />$18,576.00 <br /> <br />If and when escrow closes on the Permanent Loan, you will be <br />required to pay an additional 3% fee in the amount of <br />$15,150.00, in accordance with Section 15 of the <br />Participation Agreement. <br /> <br />8. <br /> <br />This commitment shall expire on August 23,1982. <br /> <br />In accordance with Section 13 of the Participation <br />Agreement, this Commitment is subject to the .Standard Terms <br />and Conditions, Permanent Loan Commitment,. set forth in <br />Exhibit C of the Participation Agreement, a copy of which is <br />enclosed herewith for your convenience. Nothing herein <br />changes or waives any of those terms and conditions to this <br />Commitment. <br /> <br />This Permanent Loan Commitment letter has been approved <br />by the Redevelopment Commission of the City of Santa Ana by <br />its Resolution No. 81- <br /> <br />Very truly yours, <br /> <br />Rex Swanson <br />Executive Director <br /> <br />RS:REL:adg <br /> <br />EXHIBIT A <br />p. óL of .,J r"} "'5 <br />31./ <br /> <br />7A <br />