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~LYATI~~ AlE~NT <br /> This A~IFNT is enured rota this ~ day of ~une~ ~aa~ between the or.~rnuni - <br /> Redeve~op.ent Ageney of the pity of Santa Ana, a pubic body, corporate and o~itic <br /> . thereinafter "Agency"~, and tis . ~~son, an individual ~"~~son"}, <br /> l~T~iLS <br /> Skyline Associates, ~eaare Iirnited liabi~ty earn an is the <br /> ~ ~ <br /> owner and developer afPhase I ofthe o .h-rise luxury eondon3inium towers ~n <br /> MacArthur Pace the "Lake Towers PrQject~'~, vacated gener~y on the east side of <br /> Mutton centre I~ve between MacArthur au~evard and Sandpointe .venue ~ the i <br /> tY <br /> <br /> _ of Santa Ana ~.ereinafter "the Property"}. - <br /> ND ~ singe member ~in~ited liability company ov~ned ~ aa~/~ h P~ As~aciate~, <br /> Y <br /> LLB, a De~aare limited liability company, which is a singe rrieber ~i,n~.ted liability . <br /> company awned ~ aaa~~ by P2 Assvc~atcs Ha~dings, LLB, a De~arare ~irnited <br /> ~iabi~ity eon~pany af~rhioh ~~son omens a ~~.75°I~ interest. <br /> . The Agency is ~ redevelopment agency organised under a~ifornia ~e.th Safety . <br /> bode section 3aaa seq. chose purpose is to elin~nate blight, ~ _ <br /> 4 <br /> The Lake Tov~ers Project is looate athir~ a portion ofthe Agency's merged pro~e~t <br /> area for~ner~y known as the South Main Pra~ect Area. The Agency retains the pov~er <br /> to incur debt this Area. <br /> ~~son his represented to Agency that he has assumed a portion of Pest Fee . <br /> Obligation has herein def~ned~ ofND. <br /> F. rn. order to assist the rede~re~opment of the Property and the resu~ti~g elimination of <br /> blight, the Agency has agreed to undertake the abliatian of ND to a certain <br /> building permit, mechanical ermit and lun~bin errnit fees to the ~i of Santa <br /> P ~ gP <br /> Ana in connection-.th the Lake Tourers Project tthe "Permit Fee Obli atian" , u an . <br /> g ~ ~ <br /> the terms and condions set forth herein, praded that Olson agrees to reimburse the <br /> Agency far the Permit Fee obligation plus interest thereon until paid fall.. - <br /> '~I3E~F~~, for goad rid valuable consideration the parties agree as ~'ollav~s: <br /> ~ . A enc Obli at~an. Agency shall undertake the Perna Fee ~bligat~on as of <br /> Olson's execution o the Promissory Note attached hereto a. exhibit ~ and <br /> incorporated herein by this reference. <br /> s <br /> ~lsan Obligation. Olson shall repay Agency pursuant to the Prornissa Nate the _ <br /> ry <br /> amount of $~~a,a~a which amount includes interest at the rate of .~GS~/o per <br /> ar~nuna from the date Qf the Promissory Note to the third a~nivers of the date of <br /> Page 1 <br /> <br />