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EXHIBIT "B" <br />PROMISSORY NOTE SECURED BY DEED Off" TRUST <br />ST <br />NOTICE TO MAYM R; CONTINGENT NT EQUITY PARTICIPATION AMOUNT <br />SMALL BE DUE AND PAYABLE IF CERTAIN EVENTS <br />OCCUR <br />FOR VALUE RE, CEIV D, the undersigned (the "Maker" or " omebu er" promises to <br />Pay to the COMMUNITY RE DEVELOPME T AGENCY OF THE CITY OF SANTA <br />ANA, a public body, corporate and politic (tire "Holder" or "Agency" ) at 20 Civic Center Plaza, <br />Santa Ana, Callfomia 9270 1, or at such other address as the Holder may direct from time to titre <br />in writing, the sums specified is the terms and provisions of this Promissory Note as the "Note <br />Ar ounV'. <br />1, Loan Agreement. This Promissory Note Secured by Deed of Trust (this "Note") <br />is made and delivered pursuant to and its implementation of the mebu er Loan Agrees e t <br />..... . . . .. ... .... .. . ....... <br />entered into by and between the Holder and the Haber dated ::..::: .2 <br />("Agreenient"), a copy of which is on file as a public record wit h the Holder. The Agreement is <br />incorporated herein by this reference. The Maker acluiowledges that but for the execution of this <br />Note, the Holder would not enter into the Agreement or make the loan contemplated therein. <br />Unless definitions of ter ns have been expressly set out at length bey +ei , each term shall have the <br />sable definition as set forth in the Agreement. <br />Tei -ni. The terra of the Note shall be fort -five years from the Hornebuyer <br />Assistance Loan Date "Ter *tai" . <br />3, Note Amount. The sums due and payable pursuant to the terms and provisions of <br />this Note consist of both the Homebu er Assistance Loan Amount and the Contingent t quit <br />Participation Aniount, as both terms are hereinafter defined (collectively, the `Note Amount"). <br />As one component of the Note Amount, Make' shall pay to the Agency the principal amount of <br />Dt llat• (the ` Hoinebuyer Lan <br />Am utif' , with zero percent % interest thereon, subject to subsection a below. <br />(a) Contingent quit Pai- fleipa ton Amount. As a second component of <br />the Note Amount, the Maker shall pay to the. Agency, together with the whole of the Ho ebu er <br />Assistance Loan Amount., the Contingent Equity Partieip tiou Amount as set forth in Section 7. <br />EXHIBIT B -1 TO ATTACHMENT N. l l <br />Promissory ' Note <br />D OCSOC/ 1 400673 0 31200272 -0001 <br />