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Recipient: City of Santa Ana, California Grant Number: B-84-AA-06-0615(P) EXHIBIT C 1 DESCRIPTION OF NON -RECIPIENT ACTIVITIES 2 Rider to Section 1.03(11). The "Non -Recipient Activities" shall consist of: 3 I 4 Developer shall: 5 (a) acquire Project Site A from Recipient at a nominal cost of $1.00; 6 (b) complete Project Element A on Project Site A at a total cost of not less 7 than $72016,172 of which not less than $4,980,000 shall be private loan funds, 8 $1,484,172 shall be Developer's equity funds and up to $552,000 shall be a loan of 9 Grant Funds; 0 (c) borrow from Underwriters at least $6,000,000 of which $4,980.000 shall be used by Developer for financing the development of Project Element A and the 2 balance of $1,020,000 shall be loaned by Developer as follows-- 3 (1) $754,800 to Rangel for the development of Project Element B; 4 (2) $224,400 to Ceballos for the development of Project Element C; and 5 (3) $40,600 to Fainbarg for the development of Project Element D; 6 (d) invest not less than $1,484.172 cash equity in the development of Project 7 Element A; 8 _ (e) pay to Recipient $300,000 to reimburse Recipient cost of improving 9 Parking Areas; 10 (f) borrow from Recipient not more than $552,000 of Grant Funds for financing A the development of Project Element A; and 2 (g) unconditionally and irrevocably guarantee the completion of Project 13 Element A within the timeframe hereinafter set forth in Exhibit F to this Grant 4 Agreement. .5 II f '6 Rangel shall: . 7 (a) complete Project Element B on Project Site B at a total cost of not less 8 than $1,277,744 of which not less than $754,800 shall be private loan funds, $432,944 shall be Rangel's equity funds and not more than $90,000 shall be a loan 0 of Grant Funds; (b) borrow from Developer $754,800 for financing the development of Project 2 Element B; Page 1 of 3 EXHIBIT C