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01 <br />02 <br />03 <br />04 <br />05 <br />06 <br />07 <br />08 <br />09 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />2B <br />29 <br />30 <br />31 <br />32 <br />Recipient: City of Santa Ana, California Grant Number: B-84-AA-06-0615(p) <br />Continuation Sheet --Exhibit C Amendment #1 <br />(c) invest not less than $35,898 in cash equity and land valued at $37,055 in <br />the development of Project Element D; <br />(d) borrow from Recipient not more than $11,000 of Grant Funds for financing <br />the development of Project Element D; and <br />(a) unconditionally and irrevocably guarantee the repayment of the aforesaid <br />UDAG Loan and the completion of Project Element D within the timeframe hereinafter <br />set forth in Exhibit F to this Grant Agreement. <br />V <br />Fainbarg shall complete Project Element E on Project Site E at a total cost of <br />not less than $681,520 of which not less than $40,800 shall be private loan funds <br />from Developer and $20,720 shall be Fainbarg's cash equity, and land valued at <br />$620,000. <br />VI <br />Agency shall: <br />(a) lend to Ceballos not less than $96,647 of funds from the Direct <br />Commercial Rehabilitation Loan Program which shall be used for financing the <br />development of Project Element C;, and <br />(b) lend to Escalante not less than $99,457 of funds from the Direct <br />Commercial Rehabilitation Loan Program which shall be used for financing the <br />development of Project Element D. <br />V11 <br />Underwriters shall purchase from Recipient not less than $6,000,000 of <br />Industrial Revenue Bonds which Underwriters shall lend to Developer for the <br />development of the Project Elements. <br />VIII <br />Guarantor shall guarantee to Recipient the completion of Project Elements A. B <br />and C within the timeframe bereinafter set forth in Exhibit F to this Grant <br />Agreement. <br />Mil BIT C <br />Page 3 of 3 <br />