SANTA ANA ARTS COLLECTIVE, L.P. (META HOUSING PROJECT)

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"Business Day" means any Monday, Tuesday, Wednesday, Thursday or Friday on which Santa Ana City Hall is open to the public for the conduct of City affairs. "Calendar Year" means each consecutive twelve (12) month period from January 1 to December 31. "CDBG Deed of Trust" means the deed of trust encumbering the Property, in the form attached hereto as Exhibit E, to be executed by Developer pursuant to Section 5.13.2 in order to secure the CDBG Promissory Note. "CDBG Loan" means the CDBG funds that will be awarded to the Developer under this agreement that must be repaid through residual receipts. "CDBG Promissory Note" means that certain Promissory Note in the original principal amount of $500,000 in the form attached hereto as Exhibit F, and to be executed by Developer in favor of City to evidence the obligation of Developer to repay the City Loan through residual receipts as further described in the CDBG Promissory Note. "Certificate of Completion" has the meaning set forth in Article 17. "City" means the City of Santa Ana, California, a charter city and municipal corporation. "City Loan" means, collectively, the CDBG Loan and the Inclusionary Loan. "City Project Manager" shall mean the City Manager and/or his/her designee. "Close of Escrow" shall mean the date upon which the Loan Agreement and City Deed of Trust is recorded in the Official Records of the County. "Closing Statement" means the final statement of Developer's Escrow account for the purchase of the Property pursuant to the purchase contract. "Community Development Block Grant" or "CDBG" has the meaning set forth in Recital "A" above. "County" means the County of Orange, California. "Developer" means Santa Ana Arts Collective, L.P., a California limited partnership. "Developer's Representative" shall mean an officer of the General Partner of Developer or his/her designee.