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"Official Records"). The Junior Lienholder has made a loan to the Borrower in the principal sum <br />of Two Million Two Hundred Nineteen Thousand Seven Hundred Sixty and no/100 Dollars <br />($2,627,631.00) in HOME funds (the "Junior Lienholder Loan #2"). The Junior Lienholder Loan <br />is evidenced. by a certain promissory note (the "Junior Lienholder Note #2"), secured by a certain <br />deed of trust (the "Junior Lienholder Deed of Trust #2") recorded on July 26, 2017, as Instrument <br />No. 2017000308364 in the Official Records. The Junior Lienholder has made a loan to the <br />Borrower in the principal sum of Five Hundred Thousand and no/100 Dollars ($500,000.00) in <br />CDBG funds (the "Junior Lienholder Loan #3"). The Junior Lienholder Loan is evidenced by a <br />certain promissory note (the "Junior Lienholder Note #3"), secured by a certain deed of trust <br />(the "Junior Lienholder Deed of Trust #3") recorded on July 26, 2017, as Instrument No. <br />2017000308365 in the Official Records. <br />In connection with these loans, the Junior Lienholder and Borrower have entered into the <br />following documents: <br />a. Home Loan Agreement by and between the City of Santa Ana and Santa Ana <br />Arts Collective, L.P., affecting the use of the Development, recorded on July 26, <br />2017, as Instrument No. 2017000308368 in the Official Records, as amended by <br />that First Amendment to Home Loan Agreement by and between the City of Santa <br />Ana and Santa Ana Arts Collective, L.P., recorded on September 10, 2018, as <br />Instrument No. 2018000331459 in the Official Records (the "Junior Lienholder <br />HOME Loan Agreement"); <br />b. Affordability Restrictions on Transfer of Property, recorded on July 26, 2017, as <br />Instrument 2017000308360 in the Official Records (the "Junior Lienholder HOME <br />Loan Covenant"); <br />c. First Amended and Restated Loan Agreement by and between the City of Santa <br />Ana and Santa Ana Arts Collective, L.P., affecting the use of the Development, <br />recorded on July 26, 2017, as Instrument No. 2017000308369 in the Official <br />Records (the "Junior Lienholder CDBG/Inclusionary Agreement"); and <br />d. First Amended and Restated Affordability Restrictions on Transfer of Real <br />Property, affecting the use of the Development, recorded on July 26, 2017, as <br />Instrument No. 2017000308361 in the Official Records (the "Junior Lienholder <br />CDBG/Inclusionary Covenant"). <br />The Junior Lienholder Deed of Trust #1, the Junior Lienholder Deed of Trust #2, the Junior <br />Lienholder Deed of Trust #3, the Junior Lienholder HOME Loan Agreement, the Junior <br />Lienholder HOME Loan Covenant, the Junior Lienholder CDBG/Inclusionary Agreement, the <br />Junior Lienholder CDBG/Inclusionary Covenant, and all other documents evidencing or <br />securing the Junior Lienholder Loan #1, Junior Lienholder Loan #2, and Junior Lienholder Loan <br />#3 are collectively referred to herein as the "Junior Lienholder Documents.") <br />C. In order to finance the development of the Improvements, the Senior Lender has <br />agreed to loan the Borrower a sum not to exceed Four Million Nine Hundred Forty -Four <br />AHSC Subord. Agrnnt. Page 2 of 9 <br />(NOFA— 01 /29116) <br />Rev: 11108/2018 <br />Prep: 08/03/2021 (City of Santa Ana Loans) <br />Dev: Santa Ana Arts Collective <br />Loan No.: 16-AHSC-11199 <br />