Laserfiche WebLink
RECORDING REQUESTED BY <br />AND WHEN RECORDED, MAIL TO: <br />Cite of Santa Ana <br />Attention: Housing Loan Officer <br />Property Rehabilitation Loan Program M-27 <br />500 W. Santa Ana Boulevard, Suite 400 <br />P. 0. Box 1988 <br />Santa Ana, California 92702 <br />AGREEMENT BETWEEN THE CITY OF SANTA ANA <br />AND DEVELOPER FOR THE USE OF <br />COMMUNITY DEVELOPER BLOCK GRANT FUNDS <br />2/5/91 <br />THIS AGREEMENT,made and entered into this -- day of <br />LLA r Y 199'�, by and between the City of Santa Ana, <br />a municipal corporation of the State of California ("CITY") and <br />( "DEVELOPER") , <br />W I T N E S S. E T H <br />Recitals: <br />1. CITY is the recipient of funds from the United <br />States Department of Housing and Urban Development ("HUD") pursuant <br />to Title I of the Housing and Community Development Act of 1974, as <br />amended ("ACT"). <br />2. CITY desire to commit a supplemental loan to <br />Developer to develop property. as an affordable housing project <br />(hereinafter the "project") and DEVELOPER desires to enter into an <br />agreement with CITY in regard to the Project of the form set forth <br />in Exhibit 1, attached hereto and by this reference incorporated <br />herein. <br />WHEREFORE, for and in consideration of the respective and <br />mutual covenants hereinafter contained and made, and subject to all <br />the terms and conditions hereof, the parties hereto do hereby agree <br />as follows: <br />I. DEVELOPER OBLIGATIONS <br />A. DEVELOPER agrees to enter into a "Development. <br />Agreement" which is the subject of this.agreement with CITY to use <br />all federal funds provided by CITY to bEVELOPER.pursuant to this <br />agreement and the Development Agreement for the.Project as set <br />forth in -"Exhibit I," attached hereto and by this reference - <br />incorporated herein. •DEVELOPER's failure to perform as required <br />may, in addltion td otber. remedies . eat forth in this agreement, <br />Page 1 of 11 Pages <br />