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thereof, less an Underwriter's discount of $ and phis a net original issue premium of and (ii) $ aggregate principal amount of the Agency's Tax Allocation Refunding Bonds, (Merged Project Area), Series 2016E [Federally Taxable](the "Series 2016B Bonds" and, together with Series A Bonds,] the `Bonds" or, individually, a "Series of Bonds "), at a purchase price equal to $ (being the aggregate principal amount thereof less an Underwriter's discount of $ and less an original issue discount of $ ). [As an accommodation to the Agency, the Underwriter shall pay from the purchase price of the Bonds, by wire transfer, the amount of $ to the Insurer (as such term is defined herein) to pay the premium for the Policy (as such term is defined herein) and $ to the Insurer to pay the premium for the Reserve Policy (as such term is defined herein).] Such payment and the other actions contemplated hereby to take place at the time of such payment are herein sometimes called the "Closing." 2, The Bonds and Related Documents, Each Series of Bonds shall be substantially in the form described in, and shall be issued and secured under the provisions of an Indenture of Trust, dated as of February 1, 20t 1, (the "Original Indenture "), by and between the Agency and The Bank of New York Mellon Trust Company, N.A., as trustee (the "Trustee "), as amended and supplemented, including as supplemented by the First Supplemental Indenture, dated as of 1, 2016 (the "First Supplement" and, together with the Original Indenture as amended and supplemented, the "Indenture "), pursuant to Section 34177.5 of the California Health and Safety Code (the "Law ") and Article I1 of Chapter 3 of Part 1 of Division 2 of Title 5 of the California Government Code (the "Act ") and Resolution No, of the Agency adopted on , 2016 (the "Agency Resolution "). The issuance of each Series of Bonds was approved by the Oversight Board for the Successor Agency by a resolution adopted on , 2016 (the "Oversight Board Resolution "). The Bonds shall be as described in the Indenture and the Official Statement dated the date hereof relating to the Bonds (which, together with all exhibits and appendices included therein or attached thereto and such amendments or supplements thereto which shall be approved by the Underwriter, is hereinafter called the "Official Statement "). [The Bonds shall be insured under a municipal bond insurance policy (the "Policy ") from [INSURER] (the "Insurer "), A debt service reserve insurance policy (the "Reserve Policy ") shall also be purchased from the Insurer for the Bonds.] The net proceeds of the Bonds will be used to currently refund two series of outstanding bonds (collectively, the "Prior Bonds ") issued by the forner Community Redevelopment Agency of the City of Santa Ana (the "Former Agency "). The Agency will undertake pursuant to the provisions of a Continuing Disclosure Certificate, dated as of 1, 2016 (the "Disclosure Certificate ") and executed by the Agency, to provide certain annual information and notices of the occurrence of certain enumerated events. A description of the undertaking is set forth in the Preliminary Official Statement (as defined below) and will also be set forth in the Official Statement. The Indenture, the Continuing Disclosure Certificate, the two [irrevocable refunding escrow instructions] [Escrow Agreements, each dated as of 1, 2016, and each by and between the Agency and the Trustee, as escrow bank,] relating to the Prior Bonds (collectively, the "Escrow Agreements "), and this Purchase Agreement are sometimes collectively referred to herein as the "Agency Legal Documents." 3 -94