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<br />'fills A~~1~1~~ ~~ entered into this dad of- ~ X09 among the it ~#` <br />Santa Aria, ~ eharte~~ city dui. organised and existing x~nder the constitution ~ laws of the <br />State of alifo~~ia~ ~k~e~einaer ~~ita~~a the on~munit ed~volopn~ent Agenc~r ofthe pity of <br />Santa ~aa, ~ public hods} co~~pot~ate and ~alitic~ and Dawntown Incnr~or•ated, aiifo~~nia non <br />~ro~it corpo~~ation, iereinafre~ "~ow~town~ Inc.'. <br />R~C~~TAT~ <br />~n I~ecen~be~r ~~ ~DO~ the it o~.ncil ofthe i of Santa Ana. established tae <br />)downtown ~on~nuni l~Ianagemer~t I~is#rict ~t~e ~~~~~ to pt•omote econon~c <br />~~evitali~ation ~ physical maintenance of downtown Santa Ana through ~ levy, <br />collec~.on and ependlture of funds. <br />~. Pursuant to state laws governmental agencies such ~.~~ pity and Agency which own <br />pi~pe~•ty within an assessment district must he assessed fog special hene~ confer~~ed <br />upon ~~~~ gove~'nrnental propet~ties. <br />Tl~.e first assessments for the 1I~ will not ~~ ~~ceived and ~~ available fo~• use in <br />tl~e cllstrict urrtll .Iar~uar4y ~ ~ and is in the interest of the ~ro~ei~t owne~~s in the <br />dtst~~ict that some of .e progra.~ns called for under tlae 1a.~a.gotnent district ~la~n <br />begin in the ~~t half ~~ Fiscal ea~i ~~09-~ l ~. <br />~. ~`~~ board of di~~ctors afthe III, including the pity and Agency have been <br />~'e~uested to lawn an arnaunt equal to the cstirnated ~~•st year assessment to <br />I~owntown~ Inc., who shall be the anagernent entity for the dist~'ict ur~de~~ agreement <br />with. the City {the "~anaen~ent A.g~•ee.ent'~~. <br />. 'l~he Ioans shall be repaid by I~owntcwn~ Inc in accordance witlx this Agreement a~~d a <br />pron~isso~~y note. <br />l~~w '~`~~I~'~1, fog load and val~aa~le consideration. the ~a~~ties agree as follows; <br />I. it~r and ~blx~atia~. pity ar~d Age~acy shall loan to I~owntown~ Y~ac. the <br />sums of ~ the ~`it~r Loan"} and the <br />"Agency Loan' ~collectively~ the `Loan proceeds"~ secured by Downtown, <br />Inc,'s execution o~ the ~~*~misso~~y ote~ attached herete as ~l~ibit 1 and <br />incorporated he~~ein ~y this refe~~ence. <br />Use of Funds, epan~ent, Accele~~atio~. the Loan proceeds shall be used by <br />Downtown, Inc. fa~~ purposes consistent with the anage~.ent Agreement. <br />I~o~vntawn, Inc. shall ~•epay pity Loan and Agenc~r Loan on o~' before ~u~ne ~, <br />~ 14. ~I~twithstanding the foregoing} in the event the aual assessments for the <br />Page 1 <br />