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EXHIBIT F <br />AGENCY LOAN NOTE <br />SECURED BY SUBORDINATED DEED OF TRUST TO THE <br />COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA <br />$469,000.00 , 2011 <br />Santa Ana, California <br />1. Principal Amount of A~ency Loan <br />For value received, Vista Del Rio Housing Partners, L.P., a California limited partnership <br />("Borrower"), promises to pay to the order of the Community Redevelopment Agency of the City of <br />Santa Ana ("Agency"), at 20 Civic Center Plaza, Santa Ana, California 92702, or at such other place <br />as the Agency may from time to time designate in writing, or to the assignee of the Agency, the <br />principal sum of FOUR HUNDRED THOUSAND SIXTY-NINE DOLLARS ($469,000.00) or so <br />much thereof as shall be disbursed hereunder, with three percent interest (3.0%). <br />In implementation of the acquisition and development of that certain real property in the City <br />of Santa Ana ("City"), described in the Loan Agreement as the "Property," commonly known as <br />1600 Memory Lane, Santa Ana, California, and operation of the Property as affordable rental <br />housing for Extremely Low Income and Very Low Income households, (a) Agency, the Santa Ana <br />Housing Authority ("Authority"), and Borrower have heretofore entered into that certain Disposition <br />and Development Agreement (as amended, the "DDA"), (b) City, Agency and Borrower have <br />entered into that certain "Loan Agreement" dated concurrently herewith and recorded against the <br />Property (the Loan Agreement and DDA are collectively referred to herein as the "Agreement"), and <br />(c) City, Agency and Borrower have entered into those certain Affordability Restrictions on Transfer <br />of Property, dated concurrently herewith and recorded against the Property ("Affordability <br />Restrictions"). This Note is made pursuant to, entitled to the benefits of and referred to as the <br />Agency Loan Note in the Loan Agreement. This Note is secured by that certain Agency Loan Deed <br />of Trust and Assignment of Rents between Borrower and Agency, dated concurrently herewith (the <br />"Agency Loan Deed of Trust"). This Note, the Loan Agreement, the Affordability Restrictions, and <br />the Agency Loan Deed of Trust are sometimes collectively referred to herein as the "Loan <br />Documents." The Loan Documents and the rights and responsibilities of Borrower thereunder inure <br />to the benefit of the City, Agency and Authority. Any capitalized term which is not otherwise <br />defined herein shall have the meaning ascribed to such term in the Loan Agreement. <br />2. Definitions. <br />For the purpose of calculating the payments to be made by Borrower to Agency pursuant to <br />this Note, the following terms shall have the following respective meanings: <br />"Agency Loan" shall mean the loan evidenced by this Note. <br />"Calendar Year" means each consecutive twelve (12) month period from January 1 to <br />December 30. <br />"Closing Costs" shall mean: <br />F-1 <br />DOCSOC/ 1475221v5/200272-0004 <br />