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ATTACHMENT INTO. 11 FORM OF HOMWBUYER LOAN AGREEMENT THIS H 11 B YER LOAN AGREEMENT the ""Agreement") is made as of by and between (the ' }Hom b u er" ) and the COAINDUMTY REDEVELOPMENT AGENCY F THE CITY F SANTA ANA, a public body Corp orate and pot i ti the � � Agency"). E C 1TAL S. A. The Agency is a community red velo pmen t agency duly organized and existing under the California Community Redevelopment Later, Health & Safety Code Section 33000, t seq. , ` C RU and has been authorized to transact business and exercise the poorer of a community redevelopment agent pursuant to action of the City Council "City Council"') of the City of Santa Aria " it �' - B B. The Homebu er has entered into a purchase and .gale agreement (the "Purchase Agreement") with - - - - - -- - -- --------------- - - - - -- -th"Seller" or "Devloper'* to purchase certain real property improved with a single family house thereon. Such real property is commonly known a s Santa Dina, California, and more particularly described in Exhibit "'A" attached hereto and incorporated herein ( "Property"'). C. The Agency is engaged in activities n c ar d appropriate to carry out the Redevelopment development Plan the "Redevelopment Plan }' for the Merged Redevelopment Project (the "Project Area") which was adopted by the City Council by Ordinance Nos. 2662 -2667 adopted by the Ci ty Council of the City of S ants Ana (the "City') on September 3 0, 2004. D . Pu rsu an t to S cc tion 3 3 3 3 4.2 } e t seq. of t he C RL, t he Agen cy h as depo si ted fu nd s into its Lour and Moderate Income Dousing Fund (the "Housing Fund}) for the purpose of providing subsidies to, or for the benefit f, persons and fannies of Lour and Moderate Income i n order to as s i st therm in o htaining hou sing Sri thin the commu ni t . E. The Property has been constructed pursuant to a "Disposition and Development Agreement" between th Agency and: - - -- - - - . - - -- - ----- -. dated a of ,201 0. Developer has assumed the obligations under the Disposition and Development Agreement with respect to the Phase F (single family homes), as defined therein, pursuant to an Assignment and Assumption Tigre ement with The Disposition and Development Tigre m n t requires the Developer to sell the Property to a "Moderate Income Household" at an "Affordable Dousing Cost," as those terms are defined in California Health Safety Code Sections 50052.5 and 50093 and the implementing regulations thereto in Title 25, al i fo rn i a Co de of Reg u lation } S cc tion 69 10, et seq. F. The Disposition and Development gr m n t requires the Agency to enter into this Agreement to establish a subordinate loan secured b a second trust deed to the Homeb u erg .TT , RMENT NO. 11 -1 Form of Homehu er Loan Agreement I O O 1400673 v 14 /20027 -000 f