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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 />Recipient: City of Santa Ana, California Grant Number: B-84-AA-06-0615(P) <br />Amendment #1 <br />Continuation Sheet ---Exhibit E <br />(dd) Sale/Refinancing: The entire balance of the outstanding <br />principal of the UDAG Loan, and all accrued unpaid interest thereon, shall become <br />immediately due and payable either upon the bankruptcy, reorganization, <br />syndication, dissolution or liquidation of Ceballos, or upon the sale, partial <br />sale, refinancing, exchange, transfer, sale under foreclosure, or other disposition <br />of Project Site C, improvements and/or capital equipment situated thereon. <br />(ee) Guarantee: The repayment of the UDAG Loan to Ceballos shall <br />be unconditionally and irrevocably guaranteed by Ceballos and the completion of the <br />Non -Recipient Activities pertaining to Ceballos shall be unconditionally and <br />irrevocably guaranteed by Ceballos and the Guarantors. <br />(ff) Prepayment: No prepayment may occur without prior written <br />approval of the Recipient. <br />(gg) Reduction of UDAG Loan: In the event that the cost of <br />Project Element C is less than $570,485 the UDAG Loan shall be reduced by 804 for <br />each $1.00 of such shortfall and such Grant Funds shall not be drawn down under the <br />Lettgr of Credit. <br />(4) All applicable terms and conditions of this Grant Agreement, <br />including Article IX provisions and job assurances specified in Sections 5.03 <br />and 9.06 shall be set forth in the agreement. <br />(5) The agreement shall specify a timeframe for performance <br />consistent with Exhibit F to this Grant Agreement. <br />(6) During the term of this Grant Agreement, Ceballos shall agree to <br />provide necessary data and information as to private investment and jobs relating <br />to this Grant Agreement. <br />(b) Evidence of this commitment shall be in accordance with Section <br />10.04 of this Grant Agreement together with copies of the forms of all UDAG <br />Loan documents to be used at closing. <br />29 (a) Recipient and Escalante shall enter into an agreement which shall contain <br />30 provisions consistent with the following: <br />31 (1) Recipient shall agra^ *o cxtrry out tb- Rec'n'.ent Activities set <br />32 forth in subparagraph (g) of Exhibit B to this Grant Agreement. <br />1i <br />EXHIBIT E Page 15 of 22 <br />