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CITYHOME LOAN PRONTISSORY NOTE <br />S1:CURED BY SUBORDlNATE13 f FED OF TRUST <br />TO THE CITY Ole SANTA ANA, CALIVORNIA <br />(815 N. Harbor Boulevard) <br />S3s01000 00 <br />I. Principal rAniou t of Loftin <br />March 2015 <br />Santa Ante, California <br />FOIi VALUE REXEIVED, 815 N. harbor, LP, a linrit4d partnership comprised of OHDC 815 N <br />ELtrbor, LLC, ( "'01lDC" ), a California Limited Liability Company, and C &C 815 N l L;arbor, LLC =,'ai <br />California LitTiled Liability Company ('Borrower "), hereby nornises as pay to the CITY OF SANTA <br />ANA, a chador city acid municipal corporation ( "Citj ), or order, a principal amount not to exceed <br />THREE HUNDRED Eim iw DOLLARS ($380,000,00) or so much lira not <as may be advanced by the <br />City to the Borrower, due; aatd payable with 0% interest by residual receipts over the dilly -five (SS) year <br />term, pursuant to the I,oan Agrcement between Borrower and the City dated concurrently herowith. The <br />obligation of Burrower to City hereunder is subject to the terms ofsaid the Loan Agreement, <br />Affordability Restrictions on Transfer of Property, Deed of Trust kind this Note, Said documents are <br />public records on file in the offices of the City, and the provisions oI`said documerats are incorporated <br />herein by this reference, <br />This Note, the Loan Agreement and Affordability ftegtrictions on Transfer of Property, and the <br />Deed of Trust are sometiiucs collectively referred to herein as the "HC]ME loan Doetanents." `Tire <br />HOME Loan Doeuments and the rights and responsihihties Inure to the benefit of the City, of Santa Arad: <br />Any capitalized term which is not otherwise defined herein shall have the meaning aseribed to such term <br />in the Agreement. <br />21 Definitions. <br />For the purpose of calculating the payments to be made by Borrower to City pursuant to this <br />Note, the following terms shall have the following respective meanings: <br />"Agreement" means the HOME Loan Agrectuent between the City and the Developer dated <br />concurrently herewith, and any attachments or amendments thereto, <br />"applicable Law" shall tucan those Federal, state and local Laws, ordinances, regulations, policies <br />mid proceelurcS Rpplickible to She 110M r-, Funds (the "HOME Regulations ") (24 CFI( Part 92). <br />"Area Median Income" means the median income figures for Orange County as published by the <br />U.S. Dupartment of 1lousirag and Urbatt Development (I I,UD). Also duty be referred to as "A`.vll" herein, <br />"Borrower" means 815 N. Harbor, LP, a California limited partnership comprisotl of 0l-1DC 815 <br />N Harbor, LLC, a California limited liability company as managing general partner and C&C 815 N <br />Harbor, LLC, a California limited liability company ns developer general patiner; <br />"C;alundayr Year" means each consecutive twelve (12) month period from January 1 to December <br />31. <br />I 0653AR9384. r <br />25B -66 <br />