FRIENDS OF THE LACY HISTORIC NEIGHBORHOOD-2011

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EXHIBIT "D" PROGRAM DISCLOSURE STATEMENT Uwe (Homebuyer) understand and agree that the provision of financial assistance from the Community Redevelopment Agency of the City of Santa Ana ("Agency") under Agency's Affordable Housing Implementation Program ("Program") is conditional on a number of factors, including, but not limited to: • Uwe are buying a single family home within the City of Santa Ana, which is available to me/us at Affordable Housing Cost pursuant to Health & Safety Code Section 50052.5 • I/we must qualify as a Moderate Income Household pursuant to and as defined in the California Health & Safety Code Sections 50093. • Uwe must qualify for a first mortgage home loan from an institutional lender acceptable to Developer and Agency. • Uwe must pay at least three percent (3%) of the home purchase price from my/our own funds, except as otherwise permitted by the Lender. • I/we must qualify for assistance under the guidelines of the Program. I[We further understand and agree that: Uwe will be responsible for repaying the finance assistance provided by Agency. If I/we comply with all of the requirements of the Program, I/we will owe no interest on Homebuyer Assistance Loan and the principal amount that Itwe owe to the Agency pursuant to the Program will be forgiven upon the forty-fifth (45th) anniversary of the date of the Promissory Note executed pursuant to the Program. The Homebuyer Assistance Loan Amount and the Contingent Equity Participation Amount will be immediately due and payable upon sale or transfer of the Property or if Uwe refinance our first mortgage home loan without the Agency's written approval or if I/we no longer occupy the Property as my/our principal residence or Uwe are in default of any obligation under the Loan Agreement which is a part of the Program. I/we understand that the Contingent Equity Participation Amount is interest on the Homebuyer Assistance Loan, which will provide the Agency a share of the appreciation in the value of the Property if Uwe sell, transfer, or refinance the Property. I/we acknowledge that a Contingent Equity Participation Amount will be payable by me/us upon the occurrence of each and every event as described in Section I.2(f) of the Loan Agreement. • I/we may prevent the Contingent Equity Participation Amount and the principal amount of the Note from becoming due and payable by retaining the Property, or EXHIBIT D-1 TO ATTACHMENT NO. I1 To Affordable Homebuyer Loan Agreement Program Disclosure Statement DOCSOC/1400673v 14!200272-0001