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E. FINANCING <br />PARTICIPANTS agree to apply to the Housing <br />Authority of the City of Santa Ana for a home improvement <br />loan in the approximate amount of Forty Thousand Dollars <br />($40,000.00) to be evidenced by a promissory note and deed <br />of trust to be executed by PARTICIPANTS in the form shown in <br />"Exhibit D" attached 'hereto. The proceeds of said loan, to <br />the extent necessary, shall be used to pay MEAD for moving <br />and rehabilitating said dwelling pursuant to "Exhibit B" and <br />to defray, in part, PARTICIPANTS' further obligations <br />pursuant to this agreement. <br />PARTICIPANTS agree to execute a promissory note <br />and deed of trust in the form specified in "Exhibit Cu <br />attached hereto to secure the difference between the loan <br />secured in the foregoing paragraph and any cost to CITY in <br />effectuating this agreement not expressly herein assumed by <br />CITY. Said note and deed of trust shall be subordinate to <br />the promissory note and deed of trust referred to in the <br />preceding paragraph, and shall comply with California Civil <br />Code §§ 2953.1 et seq. <br />F. ESCROW <br />CITY shall open an escrow with an escrow agent <br />mutually satisfactory to CITY and PARTICIPANTS as soon as <br />possible after the effective date of this agreement. This <br />agreement constitutes the joint escrow instructions of CITY <br />and PARTICIPANT. CITY and PARTICIPANT shall provide such <br />additional escrow instructions as shall be necessary and <br />consistent with this agreement. <br />CITY shall deposit all escrow fees, charges and <br />costs within ten (10) days of close of escrow. Such escrow <br />fees, charges and costs shall be charged to PARTICIPANT as <br />part of the debt evidenced by the promissory note and trust <br />deed in favor of CITY as provided in Section F hereinabove. <br />3. <br />