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