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1819-H-001 <br />FIRST AMENDMENT TO HOME LOAN AGREEMENT <br />THIS FIRST AMENDMENT TO HOME LOAN AGREEMENT dated, for <br />identification purposes only, as of August 21, 2018, is made and entered into by and between the <br />CITY OF SANTA ANA, a charter city and municipal corporation ("City") and SANTA ANA <br />ARTS COLLECTIVE, L.P., a California limited partnership ("Developer"), with reference to <br />the following: <br />RECITALS: <br />A. The City and Developer entered into a HOME Loan Agreement dated July 5, 2017, <br />and recorded in Official Records, Orange County, with filing number <br />2017000308368 on July 26, 2017 ("said HOME Loan Agreement'). <br />B. The purpose of said HOME Loan Agreement is to assist with the development of <br />an adaptive reuse project consisting of a fifty-eight (58) unit multi -family <br />residential housing development, with live/work units and a possible commercial <br />art studio, as well as a community room located at 1666 N. Main Street, Santa Ana, <br />California ("Project'). <br />C. In accordance with the terms and conditions of said HOME Loan Agreement, the <br />parties desire to amend said HOME Loan Agreement, including the Affordability <br />Restrictions on Transfer of Property, HOME Deed of Trust, HOME Promissory <br />Note, and Project Budget attached as exhibits to said HOME Loan Agreement, to <br />increase the amount of HOME funding provided by the City to Developer for the <br />Project, and to update the unit mix and requirements for the HOME assisted units, <br />as necessary. <br />NOW, THEREFORE, for and in consideration of the mutual covenants and agreements <br />herein contained, and subject to the terms and conditions of said HOME Loan Agreement, except <br />as herein modified, City and Developer agree as follows: <br />Section 1.1, Defined Terms, of said HOME Loan Agreement shall be amended to <br />increase the amount of HOME funds in the definitions of "HOME Loan" and <br />"HOME Loan Promissory Note" from "TWO MILLION, TWO HUNDRED AND <br />NINETEEN THOUSAND, SEVEN HUNDRED AND SIXTY DOLLARS <br />($2,219,760.00)" to "TWO MILLION, SIX HUNDRED AND TWENTY SEVEN <br />THOUSAND, SIX HUNDRED AND THIRTY ONE DOLLARS <br />($2,627,631.00)." <br />2. Section 3, Scope of Work/Project Budget, of said HOME Loan Agreement shall be <br />amended to replace the "Project Budget' attached to said HOME Loan Agreement <br />as Exhibit E with the "Project Budget' attached herewith as Exhibit 1. <br />Section 5, HOME Loan, of Said HOME Loan Agreement shall be amended to <br />increase the amount of HOME funds by FOUR HUNDRED AND SEVEN <br />