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<br />INSURANCE ON F1l.E <br />~,r~EXPlRES A-2007-143 <br /> <br />7-/-0g <br /> <br />~1~;?\J~~\L GRANT AGREEMENT FOR ACQUISITION OF AN 8 BEDROOM HOME <br />O'.COA (2) (HOUSING OPPORTUNITIES FOR PERSONS WITH AIDS) <br />(.Jc>l-w' Malooey) (24 cm Part 574) <br /> <br />THE CITY OF SANTA ANA, CALIFORNIA, a charter city and municipal <br />corporation, duly organized and existing under the Constitution <br />and laws of the State of California ("City"), and STRAIGHT TALK, <br />INC., a California non-profit public benefit corporation <br />("Developer"), in furtherance of the regulations issued by the <br />U.S. Department of Housing and Urban Development set forth in 24 <br />CFR Part 574 (the "HOPWA Regulations"), hereby agree as follows: <br /> <br />A. City is responsible <br />funds (" HOP~JA Funds" ) <br />Department of Housing <br />Housing Opportunities <br />Program"); and <br /> <br />for administration of the use of certain <br />made available by the United States <br />and Urban Development ("HUD") under the <br />for Persons With AIDS Program (the "HOPWA <br /> <br />B. Developer intends to acquire the property at 13441 Golden West <br />Street in the City of Westminister (the "Property") and use the <br />Property to provide housing for persons with acquired <br />immunodeficiency syndrome ("AIDS") and related diseases; and <br /> <br />C. City has determined that Developer and the Property are <br />eligible to receive funds made available by HUD pursuant to the <br />HOPWA Program for the purpose of purchasing the home; and <br /> <br />D. The parties mutually desire to comply with all applicable HOPWA <br />Regulations. <br /> <br />NOW, THEREFORE, City agrees to make a grant of HOPWA Funds to <br />Developer in the amount of $ 535,000 (the "Grant"), subject to the <br />following terms and conditions: <br /> <br />1. Use of Grant. 24 cm 574.300Cbl (3). <br /> <br />The Grant shall be used exclusively for the payment of a portion <br />of the acquisition costs associated with the purchase of the home. <br />Grant funds shall be used as follows: <br /> <br />a. Acquisition of Property. The HOPWA grant shall be used <br />for the acquisition of the Property (see Legal Description of <br />Property attached hereto as Attachment No.1). Funds shall be <br />disbursed in the amounts approved by City. All disbursements <br />shall be made subsequent to Developer taking title to the <br />Property. These approved expenses are attached in the estimated <br />Escrow Closing Statement (Attachment No.2). <br /> <br />b. Schedule. Developer shall close escrow' on the Property <br />not later than 60 days after execution of this Agreement. This <br />schedule may be modified with the consent of the Deputy City <br /> <br />Straight Talk Development Agreemant <br />7/18/2007 <br /> <br />1 <br />