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SANTA ANA ARTS COLLECTIVE, L.P. (META HOUSING PROJECT) - 2017
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SANTA ANA ARTS COLLECTIVE, L.P. (META HOUSING PROJECT) - 2017
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Last modified
9/21/2017 9:20:39 AM
Creation date
8/24/2017 4:37:58 PM
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Contracts
Company Name
SANTA ANA ARTS COLLECTIVE, L.P. (META HOUSING PROJECT)
Contract #
A-2017-174
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
7/5/2017
Expiration Date
7/5/2047
Destruction Year
0
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1.2 Sineular and Plural Terms. Any defined term used in the plural in this <br />Agreement or any other Loan Document shall refer to all members of the relevant class and any <br />defined term used in the singular shall refer to any number of the members of the relevant class. <br />1.3 References and Other Terms. Any reference to this Agreement or any Loan <br />Document shall include such document both as originally executed and as it may from time to <br />time be modified. References herein to Articles, Sections and Exhibits shall be construed as <br />references to this Agreement unless a different document is named. References to subparagraphs <br />shall be construed as references to the same Section in which the reference appears. The term <br />"document" is used in its broadest sense and encompasses agreements, certificates, opinions, <br />consents, instruments and other written material of every kind. The terms "including" and <br />"include" mean "including (include) without limitation." <br />1.4 Exhibits Incorporated. All attachments and exhibits to this Agreement, as now <br />existing and as the same may from time to time be modified, are incorporated herein by this <br />reference. <br />2. [RESERVED] <br />SCOPE OF WORK/ PROJECT BUDGET <br />A Scope of Work and Budget for the Project is attached hereto as Exhibit F. Any <br />material change to the Scope of Work/Budget requested by the Developer shall be subject to the <br />prior written approval of the Executive Director. <br />A line -item budget for the Project, including a summary statement of sources and uses of <br />funds, is incorporated into Exhibit E (the "Project Budget"). Any material change to the Project <br />Budget requested by Developer shall be subject to the prior written approval of the Executive <br />Director. <br />Notwithstanding the foregoing, the City's approval of a change order shall not be <br />required unless the approval of the Senior Lender is required with respect to such change order. <br />4. COMPLIANCE WITH REHABILITATION ACT OF 1973 <br />The design and construction of the Project shall at all times comply with Section 504. <br />HOME LOAN: <br />A. Amount and Purpose. Subject to the terms and conditions of this Agreement, <br />City agrees to make a loan of HOME funds to Developer in the principal amount of up to TWO <br />MILLION, TWO HUNDRED AND NINETEEN THOUSAND, SEVEN HUNDRED AND <br />SIXTY DOLLARS ($2,219,760.00) (the "HOME Loan") for the acquisition, rehabilitation, <br />construction, and soft costs of said Project. <br />
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