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EXIT T " PRONUSSORY NOTE SECURED BY DEED OF TRUST NOTICE TO MAKER: CONTINGENT EQUITY PARTICIPATION AMOUNT HALL BE DUE AI PAYABLE IF CERTAIN EVENTS OCCUR S F Fug' - - -- - - - -- � - -• -� , Property Address:. city State Zip Code Santa Ana, Califomia FOR VALUE RECEIVED, the undersigned (the "Maker" or ; `Homebu ef' ) promises to pay to the COND4UNITY REDEVELOPMENT AGENCY THE CITY OF SANTA ABTA, a public body, corporate and politic the "Holder" or "Agency") at 20 Civic Center Plaza, S an t a Ana, C alifomi a 9 2701, or at s u eh other ad d re ss. a s t he Hol der may dire et from time to time in writing, the sums specified in the terms and provisions of this Promissory Note as the "Note Amount'. i. Loan Agreement, This Promissory Mote Secured b Deed of Trust this "Note" is made and delivered pursuant to and in implementation of the Homebu er Loan Agreement entered into b and between the Holder and the Maker dated - - - - - * 20 C'Agrev,ment"), a copy of which is on file as a public record with the Holder. The Agreement is incorporated herein by this reference. The Maker acknowledges that but for the execution of this Note, the Holder would not enter into the Agreement or make the loan contemplated therein. Unless definitions of terms have been expressly set out at length herein} each term shall bave the same definition as set forth in the Agreement. Term. The terra of the Note shall be forty -five years from the Ho meb u firer Assistance Loan Date ("Term"). 3. Note Amount. The Burns due and payable pursuant to the ternns and provisions of this Dote consist of both the Homehuyer Assistance Loan Amount and the Contingent Equity Participation Amount, as both terms are hereinafter defined (collectively, the "Note Amount"). As one component of the Dote Amount, Maker shall pa to the Agency the principal amount of Dollars (the "Homehu er Loan Amount"), with zero percent o % interest thereon, subject to subsection a below. (a) Equity Participation Amount. As a second component of the Dote Amount, the Maker shall pay to the ency, tocrether with the whole of the H meb u firer ID A s s l s t a nc a Loan Amou n t, the Con ti n g n t Equ ity Particip ation Amou ra t a s se t forth in S cc Lion 7. EXHIBIT B- f TO ATTACHMENT NO. 11 Promissory Note DOCS OCI 14 0067 3 v1 4120027 2 -0001