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ATTACHMENT NO. 11 FORM OF HOMEBUYER LOAN AGREEMENT THIS HOMEBUYER LOAN AGREEMENT (this "Agreement ") is made as of 20_ by and between (the "Homebuyer ") and the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, a public body, corporate and politic (the "Agency "). RECITALS A. The Agency is a community redevelopment agency duly organized and existing under the California Community Redevelopment Law, Health & Safety Code Section 33000, et seq., ( "CRL") and has been authorized to transact business and exercise the power of a community redevelopment agency pursuant to action of the City Council ( "City Council") of the City of Santa Ana ( "City "). B. The Homebuyer has entered into a purchase and sale agreement (the "Purchase Agreement ") with (the "Seller" or "Developer ") to purchase certain real property improved with a single family house thereon. Such real property is cornmonly known as ', Santa Ana, California, and more particularly described in Exhibit "A" attached hereto and incorporated herein (the "Property "). C. The Agency is engaged in activities necessary and appropriate to carry out the Redevelopment 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 City Council of the City of Santa Ana (the "City ") on September 30, 2004. D. Pursuant to Section 33334.2, et seq. of the CRL, the Agency has deposited funds into its Low and Moderate Income Housing Fund (the "Housing Fund ") for the purpose of providing subsidies to, or for the benefit of, persons and families of Low and Moderate Income in order to assist them in obtaining housing within the community. E. The Property has been con_s_truct_ed pursuant to a "Disposition and Development Agreement" between the Agency and 1 dated as of 2010. Developer has assumed the obligations under the Disposition and Development Agreement with respect to the Phase FS (single family homes), as defined therein, pursuant to an Assignment and Assumption Agreement with The Disposition and Development Agreement requires the Developer to sell the Property to a "Moderate Income Household" at an "Affordable Housing Cost," as those terms are defined in California Health & Safety Code Sections 50052.5 and 50093 and the implementing regulations thereto in Title 25, California Code of Regulations, Section 6910, et seq. F. The Disposition and Development Agreement requires the Agency to enter into this Agreement to establish a subordinate loan secured by a second trust deed to the Homebuyer, ATTACHMENT NO. 11 -1 Form of Homebuyer Loan Agreement DOCSOG 14006M 14200272 -0001