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FREE RECORDING REQUESTED PURSUANT <br />TO GOVERNMENT CODE SECTION 27383 <br />When Recorded Mail to: <br />City of Santa Ana <br />20 Civic Center Plaza, M -26 <br />P.O. Box 1988 <br />Santa Ana, California 92702 -1988 <br />Attention: Housing Programs Coordinator <br />REHABILITATION LOAN PROGRAM <br />LOAN AGREEMENT OF CDBG FUNDS AND CAL HOME FUNDS <br />CONTAINING AFFORDABLE HOUSING RESTRICTION <br />(Owner Occupied Property — 601 E. 20TH ST., Santa Ana, CAI <br />THIS AGREEMENT is made and entered into this 18th day of October, 2010 by and <br />between the City of Santa Ana, a charter city and municipal corporation of the State of California <br />("City") and IRENE M. AND UBALDO MAYORGA ( "Borrower "). <br />RECITALS <br />A. City is a recipient of Community Development Block Grant ( "CDBG ") funds from the <br />United States Department of Housing and Urban Development ( "HUD ") pursuant to Tile I of the <br />Housing and Community Development Act of 1974, as amended ( "Act ") and 24 C.F.R. 570. <br />B. Borrower owns a single - family home located at 601 E. 20TH ST., Santa Ana, California, <br />as more particularly described in Exhibit "A" attached hereto and incorporated herein (the <br />"Property "). Borrower desires to rehabilitate or make improvements to the existing single family <br />home on the Property to habitable condition and to inhabit such single - family home as Borrower's <br />principal residence. <br />C. City desires to loan CDBG funds to Borrower and Borrower desires to borrow such <br />funds from City in order to fund all or part of the costs of rehabilitating the Property for use as <br />affordable housing. <br />D. Borrower has provided the City with Borrower's plans for rehabilitation of the Property, <br />and an analysis of the cost of rehabilitating the Property indicates that Borrower needs to borrow <br />CDBG funds in the amount of $75,000.00 as well as $60,000.00 in CalHome funds. <br />E. The $60,000 CalHome Loan is subject to the terms, conditions, and restrictions of the <br />State of California CalHome Program as set forth in Health and Safety Code section 50650 et seq. <br />and implementing guidelines or regulations adopted by the California Department of Housing and <br />Community Development ( "HCD' ), all of which are hereby incorporated by reference. <br />Page 1 of 15 EXHIBIT 2 <br />20A -5 <br />