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D. The Program is implemented in accordance with the City of Santa Ana <br />Housing Opportunity Ordinance, and will be modified whenever necessary to insure <br />compliance with regulations and continued Program feasibility. <br />E. The City agrees to loan down payment funds to Borrower and Borrower <br />agrees to borrow from the City $ (the "City Loan") <br />pursuant to the Program, subject to the terms and conditions set forth herein.. Borrower <br />must contribute a minimum of three percent (3%) of the purchase price, towards down <br />payment. This minimum contribution cannot be from gift funds. <br />F. The Purchase Price for the Property is to be paid,,by.,Borrower by a• <br />combination of funds, including: <br />a. Borrower's down payment in the amount of $ <br />b. A loan to be made by <br />secured by a first deed of trust, in the principal amount of $ <br />Mortgage Loan"); and; <br />1 <br />c. The City Loan, secured by a deed of trust, in t <br />of $ <br />G. Borrower has provided the City with written <br />lender making the First Mortgage Loan stating that the <br />requested by Borrower is the minimum amount of additional <br />Borrower to qualify for the,First Mortgage Loan. <br />(the "First <br />principal amount <br />documentation from the <br />amount of the City Loan <br />financing necessary for <br />H. The Loan Agieement and all of its attachments shall be enforceable by <br />City in accordance with the terms thereof. Each of the Loan Agreement, the Income And <br />Owner -Occupancy Covenants and Resale Restrictions/Affordability Covenants, the City <br />Promissory Note and the City Deed of Trust provide a means of enforcement by the City <br />if Developer is in b'reach-of its obligations hereunder and thereunder, including liens on <br />the. Property, use and deed restrictions and covenants running with the land [24 CFR <br />92.504 (c)(13)1: <br />NOW, THEREFORE, for good and valuable consideration, the parties agree as <br />follows:' ` <br />Definitions: Unless otherwise defined, the following capitalized terms shall be defined <br />,in this Agreement as follows: <br />"City Deed of Trust" means the deed of trust securing the City Loan, in the form <br />attached herewith as Exhibit B and incorporated herein by reference. <br />2 <br />25C-8 <br />