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The CDBG program of Santa Ana Neighborhood Housing Services <br />consists of using the grant funds to finance the rehabilitation of <br />residences of eligible persons and/or families. The grant funds <br />will be drawn down in progressive amounts to pay for the <br />rehabilitation work as completed, for which the home owner/tenant <br />will sign a promissory note and execute a Deed of Trust with SANHS <br />named as beneficiary to secure repayment of the grant funds used, <br />i.e. the person/family in effect borrows the funds used for the <br />rehabilitation. <br />SANHS will establish a fund in an account with a financial <br />institution where borrowers will make%.repayments. The repayments <br />will be used to fund more CDBG eligible residential rehabilitation <br />projects. <br />Exhibit B <br />