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1 <br />AGREEMENT <br />THIS AGREEMENT# entered into this �� � day of <br />1986, by and between the rommunity Redevelopment Agency of <br />the City of Santa Ana, a public body, corporate and polieic <br />("Agency"), the City of Santa Ana, a munic1pal corporation <br />REL:k -3 <br />04/17/86 <br />('City') and the Santa Ana Unified school District ("District*). <br />W -1 -T -N- E- S - S- E-T -# <br />Recitals <br />A. The District desires to acquire certain real property <br />located at 1818 South Bristol Street in the City of Santa Ana <br />(the "Property') to improve and maintain the Same as a public <br />elementary school. <br />Be District has entered into an escrow to purchase the <br />Property for a purchase price of $4,300,000, of which purchase <br />pricer the amount of $500,000 shall be paid in advance and the <br />balance pursuant to a promissory note in the principal amount <br />of 83,800,000 with interest at prime rate or no lees than nine <br />percent per annum and payment in equal annual installments <br />of $ltOOfl,000 beginning one year from close of escrow. <br />C. The City desires,ty provide financial assistance to <br />the District for the public purpose of promoting adequate <br />schools for the school -age population residing within the <br />jurisdictions of the City and th jt..._.r.r.._ <br />CO OI rC L Au"I'lON <br />Z VOZ2989M gZ99 09 ILL ; nn:gL ! KR- C7-n�! q ;IWT1 :1:V AlH(i 'lliM• I AMU <br />