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LEASE AGREEMENT THIS LEASE AGREEMENT (this "Lease Agreement'), dated as of June 1, 2014, is by and between the SANTA ANA FINANCING AUTHORITY, a joint exercise of powers authority organized and existing under the laws of the State of California, as lessor (the "Authority "), and the CITY OF SANTA ANA, a municipal corporation and chartered city organized and existing under and by virtue of the laws of the State of California, as lessee (the "City "); WITNESSETH: WHEREAS, pursuant to that certain Site and Facility Lease, dated as of June 1, 2014 (the "Site and Facility Lease "), the City has leased those certain parcels of real property situated in Orange County, State of California, more particularly described in Exhibit A attached hereto and made a part hereof (the "Site "), and those certain improvements thereon, more particularly described in Exhibit B hereto (the "Facility" and, with the Site, the "Property "), to the Authority, all for the purpose of enabling the City to undertake (a) the defeasance of $33,550,000 (50 %) of the outstanding Santa Ana Financing Authority Police Administration and Holding Facility Lease Revenue Bonds, Series 1994A, issued to finance the costs of the construction and equipping of a police administration building and holding facility, and (b) the current refunding of the outstanding City of Santa Ana Certificates of Participation (1998 City Hall Expansion Project), delivered to finance the costs of the construction and equipping of an expansion of the Santa Ana City Hall; WHEREAS, the Authority proposes to lease the Property back to the City pursuant to this Lease Agreement and to assign all of its rights, title and interest in, to and under this Lease Agreement, including its right to receive lease payments under this Lease Agreement (the "Lease Payments "), its right to enforce payment of the Lease Payments and otherwise to enforce its interest and rights under this Lease Agreement in the event of a default hereunder by the City and its rights under the Site and Facility Lease, to Western Alliance Public Finance. e "Assignees "), pursuant to those certain assignment a$�ementg, each dated as by and between the Authority and the Assignees; and WHEREAS, the City and the Authority have agreed to enter into this Lease Agreement providing for Lease Payments with an aggregate principal component in the amount of $ for the purpose of implementing the financing transactions described above. AGREEMENT: NOW, THEREFORE, for and in consideration of the premises and the covenants hereinafter contained, the parties hereto hereby formally covenant, agree and bind themselves as follows: