Laserfiche WebLink
<br />. <br />. <br /> <br />. <br />. <br /> <br />. <br /> <br />. <br /> <br />EXHIBIT A <br /> <br />COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA <br />SECURED PROMISSORY NOTE <br />(PHILLIPS BLOCK) <br /> <br />$ <br /> <br />Santa Ana, California <br />December I, 1981 <br /> <br />COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, a public body <br />c.orporate and politic, duly organized and existing under and pursuant to Part <br />1 (commencing with Section 33000) of Division 24 of the Health and Safety Code <br />of the State of California (the "Agency"), for value received, hereby promises <br />to pay to the order of Wells Fargo Bank, National Association (the "Bank"), or <br />its registered assigns (Bank and such registered assigns are hereinafter <br />sometimes referred to as "holder" or "holders"), at 2323 North Broadway, Santa <br />Ana, California, .or at such .other place as Bank or its registered assigns <br />shall designate, and at the times hereinafter provided, the principal sum <br />of Do 11 ars <br />($ J, together wlth 1 nterest computed on the bas lS of a 360-day <br />year and 30-day month, on the unpaid principal balance hereof from the date <br />hereof until due, at a rate ("Basi c Rate") per annum .one-half percent greater <br />than sixty-five hundredths (.65) times the Base Rate (.5%) (as hereinafter <br />defined and determined). "Base Rent" shall mean that rate of interest charged <br />by Bank on colTIßercial real estate loans, interest on which is subject to <br />federal income taxation, on properties similar in use to those described in <br />the Project Agreements referenced below. The Base Rate for the period from <br />December I, 1981 to December I, 1986 shall be determined as of December I, <br />1981 and the Base Rate from and after December I, 1986 shall be determined as <br />of December I, 1986. Interest only shall be due and payable on the fi rst day <br />of each calendar month c.ommencing January I, 1982 and continuing through <br />December I, 1982. Thereafter, installments of principal and interest shall be <br />due and payable on the first day of each calendar month commencin9 January I, <br />1983 and continuing through December I, 1991, whereupon the entire principal <br />balance of this Note, together with interest thereon, shall be due and <br />payable. Installment of principal and interest due from January I, 1983 to <br />Decerrber I, 1991 shall be in equal amounts sufficient, after the payment of <br />accrued interest to amortize the principal amount of this Note based upon saie <br />amount as of December I, 1982, in 360 equal monthly installments; provided <br />that the amount of such installments shall be subject t.o adjustment, as <br />necessary, on Decerrber I, 1986 to reflect any change in the Base Rate. Bank <br />shall determine the initial am.ount of such installments and give Agency notice <br />thereof between December I, 1982 and December 20, 1982. Bank shall determine <br />the amount of such installments for the period c.ommencing December I, 1986 and <br />