HABITAT FOR HUMANITY OF ORANGE COUNTY (4)

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PROMISSORY NOTE SECURED BY DEED OF TRUST $ Santa Ana, California Date: Property Address: Street, Santa Ana, CA 9270 FOR VALUE RECEIVED, the undersigned (the "Maker" or "Homebuyer") promises to pay to the CITY OF SANTA ANA, a public body, corporate and politic (the "Holder") at 20 Civic Center Plaza, Santa Ana, California 92701, or at such other address as the Holder may direct from time to time in writing, the sums specified in the terms and provisions of this Promissory Note as the "Note Amount". 1. Loan Agreement. This Promissory Note Secured by Deed of Trust (this "Note") is made and delivered pursuant to and in implementation of the Homebuyer Loan. Agreement entered into by and between the Holder and the Maker dated concurrently herewith ("Agreement'), a copy of which is on file as a public record with the Holder. The Agreement is incorporated herein by this reference. The Maker acknowledges that but for the execution of this Note, the Holder would not enter into the Agreement or make the loan contemplated therein. Unless definitions of terms have been expressly set out at length herein, each term shall have the same definition as set forth in the Agreement. 2. Term. The term of the Note shall be forty-five (45) years from the Homebuyer Loan Date ("Term"), 3. Note Amount. The sums due and payable pursuant to the terms and provisions of this Note consists of the Homebuyer Loan Amount (the "Note Amount"). Maker shall pay to the City the principal amount of Dollars ($.) (the "Homebuyer Loan Amount"), with zero percent (0%) interest thereon. [The Homebuyer Loan Amount shall be determined as the difference between the Affordable Sates Price and the fair market value of the Property, as determined in. accordance with the Homebuyer Loan Agreement and the Regulatory Agreement Imposing Affordable Housing Covenants and Restrictions (Density Bonus), which restricts the sale and resale of Affordable Units.] 4. Homebuyer Loan Amount; Interest Deferred Until Acceleration. The Homebuyer Assistance Loan Amount shall accrue zero percent (0%) interest unless and until an event of acceleration occurs as set forth in Section 6. 5. Homebuyer Loan Amount; Time of Payment. In the event that the Homebuyer Loan Amount does not become due and payable prior to the forty-fifth (45`11) Anniversary ("Maturity Date") as set forth below in Section 6, the full amount of the Promissory Note shall be considered mature and the obligation to pay shall be extinguished as of the Maturity Date. 6. Acceleration. The whole of the Note Amount and all other payments due hereunder and under the Agreement shall become due and be immediately payable to the Holder by the Maker upon the occurrence of any one of the following events of acceleration: Exhibit D