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WHEREAS, the Agency and the City have previously determined by resolution that the Project is of benefit to the Project Area; NOW, THEREFORE, in consideration of the mutual covenants herein contained it is agreed by and between the parties hereto as follows: Section 1. Definitions. Unless the context otherwise requires, the terms defined in this Section 1 shall, for all purposes of this Reimbursement Agreement and of any amendment hereto, and of any certificate, opinion, estimate or other document herein mentioned, have the meanings herein specified. Any capitalized term not defined herein shall have the meaning given to such term in the Lease Agreement. "Agency" means the Community Redevelopment Agency of the City of Santa Ana, a redevelopment agency and public body, corporate and politic, duly organized and existing under and by virtue of the laws of the State of California. "Authority" means the Santa Ana Financing Authority, a joint exercise of powers authority, duly organized and existing under and by virtue of the laws of the State of California. "Business Day" means a day which is not a Saturday, Sunday or legal holiday on which banking institutions in the state in which the Assignee is located are closed or are required to close or a day on which the New York Stock Exchange is closed. "City" means the City of Santa Ana, a general law city and municipal corporation duly organized and existing under and by virtue of the Constitution and laws of the State of California. "Fiscal Year" means each twelve-month period beginning on July 1 of any year and ending on June 30 of the succeeding year, or any other twelve-month period hereafter adopted by the City as its official fiscal year period. "Law" means the Community Redevelopment Law of the State of California, constituting Part 1 of Division 24 of the California Health and Safety Code and the acts amendatory thereof and in supplement thereto. Whenever reference is made in this Reimbursement Agreement to the Law, reference is made to the Law as in force on the date of the execution of this Reimbursement Agreement, unless the context otherwise requires. "Lease Agreement" means that certain lease entitled "Lease Agreement" by and between the Authority, as lessor, and the City, as lessee, dated as of , 2005. "Lease Payments" means all amounts paid by the City as lease payments pursuant to Section 4.4 of the Lease Agreement. "Project Area" means the Central City Redevelopment Project of the Agency. -2- JT25S-60