80A - JT PH VISTA DEL RIO HOUSING

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EXHIBIT D CITY/HOME PROMISSORY NOTE PROMISSORY NOTE (secured by Deed of Trust) [City/HOME Loan] Santa Ana, California $500,000.00 1. FOR VALUE RECEIVED, the undersigned, VISTA DEL RIO, a California limited partnership (the "Owner") promises to pay to the CITY OF SANTA ANA, a charter city and municipal corporation duly organized and existing under the Constitution and laws of the State of California ("City"), at 20 Civic Center Plaza, Santa Ana, California, 92701, or such other location as the holder hereof may designate, the principal sum of Five Hundred Thousand Dollars and No Cents ($500,000.00) plus accrued interest at three percent (3%) per annum, in accordance with the terms of that certain HOME Loan recorded with the County of Orange as Document No. for the property located at 1600 Memory Lane, and DDA, This Note is secured by a Deed of Trust of even date herewith ("Trust Deed"). 2. This Note shall accrue interest at the rate of three percent (3%) per annum on the initial principal balance only from the recordation of the HOME Loan Agreement until forgiven or repaid. No payments will be required prior to the Conditional Loan coming due as provided above. If a Certificate of Compliance is not issued within the time provided for in the HOME Loan Agreement, this Note, together with accrued interest, shall immediately become due and payable in full. 3. The Owner waives presentment for payment, demand, protest, and notices of dishonor and of protest; the benefits of all waivable exemptions; and all defenses and pleas on the ground of any extension or extensions of the time of payment or of any due date under this Note, in whole or in part, whether before or after maturity and with or without notice. The Owner hereby agrees to pay all costs and expenses, including reasonable attorney's fees, which may be incurred by the holder hereof in the 20 53 80A-129