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EXIT 'T" PROGRAM DISCLOSURE STATEMENT I/we -- om buy r understand and agree that the provision of financial assistance from the Community Redevelopment Agent of the City of Santa Ana ("'Agency"') under Agency's Affordable Housing ]Implementation Program "Pr xain" is conditional on a number of factors, including, but not limited to: I/we are buying a single family borne within the City of Santa Ana, which is available to melus at Affordable Dousing Cost pursuant to Health & Safety Code Section 50052. a I/we must qualify as a Moderate Income Household pursuant to and as defined in t he Cal if mia Health & S afety Code S a c tions 50093. 0 I/we must qualify for a first mortgage home loan from an institutional len der acceptable to Developer and Agency. 0 I/we must pay at least three percent a of the home purchase price from my/our own funds, except as otherwise p nmi t ted by the Lender. 0 I/we must qualify for assistance under t h guidelines of the Program. 1fWe further understand and agree that: I/we will be responsible for repaying the finance assistance provided by gent . If I/we comply with all of the requirements of the Program, gill owe no interest on Homeh u er Assistance Loan and the principal amount that we owe to the Agency pursuant to the Program w i l i be forgiven upon the forty -fifth 4th anniversary of the date of the Promissory Mote executed pursuant to the Program. The Homebuyer Assistance Loan Amount and the Contingent Equity Participation Amount will be immediately due and payable upon sale or transfer of the Property or if I/we refinance our first mortgage hone loan without the Agent } s written approval or if I/we no longer oc eu p the Property as my/our principal residence or I/we are in default of any obligation under the Loan Agreement hieh is a part of the Program. I/we understand that the Contingent Equity Participation Amount is interest on the Homehu er Assistance Loan, which will provide the Agency a share of the appreciation in the value of the Property if I/we sell, t ra o f r, or refinance the Property. 11 we acknowledge that a Contingent Equity Participation Amount will he payable h melus upon the occurrence of each and every event as described in Section 1.2(f) of the Loan Agreement. I/we may prevent the Contingent Equity Participation Amount and the. principal amount of the Note from becoming due and payable by retaining the Property, or EXHIBIT D-1 TO ATTACHMENT N. I I To Affordable Hornebuyer Loan Agreement Program Disclosure Statement DO0 1400673 v 14120027 - 000 1