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accordance with 24 CrR p Sections. 370 et seq. , `€+r rehatbil itation <br />:cans with the purroaea of awarding rehabilitation loans to <br />property carers within the Santa Ana Neighb&rhood r'ollsinq <br />SrrT: icc-ss tarc;et area, said area beino rycsignatne in the man <br />attachne.l hcret(' as "FXhibit A," and incor.orated racrcin t,> <br />rz� r•r�--ncf:. <br />B. ror such reh;,:�t?i i itat i or. .urns srs , C nr* ^^,,L ^t+ <br />d'7rr,Qs to establish a Revolving T,oan Fund (""f LF') [pursuant <br />to t),C T^rovisiors of 24 CFI' 570.51.3, and Cllt TPAC^OR agrees <br />to ICT(Isit therein all funds received, inciudina but not key <br />way of limitation, CFP% funds pursuant -to this Agreement, <br />designated gifts frcn they Neighborhood Peinvestment Corporation, <br />anr: yfif'ts Oesignated to the ' froze lending institutions, <br />resiOer.ts or other sourc c?s. <br />C. Any funds rIepc sited in the RL.P shall br.. €zrrc, <br />for the sole purpose stateri in Paragraph I.A. above. <br />D. Interest earned on any deposits In the PIT, on <br />rT,F 1ocr�ns or any Other income is to be arld€d to the PLF to <br />h; usn , to provVie additional loans. <br />E7. ThTILF is to be used only for the purpose of <br />l:ro.itiny lour interest loans to the following classes of <br />propfrt4 owners-, <br />1. Property owners Who 00 not meet underwriting <br />critrria rcquired by the conventional lending market, using <br />standa,re industry practice:, for horse improvement leans. / <br />2. rroperty owners who do not qualify for ✓ <br />CITY Community r-vcicpn.Pnt Programs or other goverrmen.tal <br />pro,rErs. / <br />3. Property owners who meet the loan rolicics ✓ <br />and procedural requirements Establishers by the snnta rna <br />P?Ci,Cjbbort.00dE ricusinR Services Loan Committee, attacl`Po hereto <br />as rxhUit "fl° and incorperat4d herein by reference. <br />It is turthcr agreed that at its sole discrcticn <br />CONTr AC IO'n ,;aiy fund' partial loans to property owners eligible <br />-2- <br />