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LOAN AGREEMENT <br />HOMEPROGRAM <br />THIS LOAN AGREEMENT (the "Agreement") dated, for identification purposes only, <br />as of September 27, 2017, is made and entered into by and between the City of Santa <br />Ana, a charter city and municipal corporation (referred to herein as "City") and Wakeham <br />— Grant Apartments, L.P., a California limited partnership, with reference to the following: <br />RECITALS: <br />A. City has received an allocation of funds from the United States Department of <br />Housing and Urban Development ("HUD") under the HOME Investment Partnership <br />Program (the "HOME Program") (42 U.S.C. §12701, et seq.,) to be used in accordance <br />with applicable statutory requirements and regulations (the "HOME Regulations") (24 <br />CFR Part 92); <br />B. A portion of City's allocation of HOME Program funds is reserved for <br />Community Housing Development Organizations (the "HOME Program/CHDO funds"), <br />and Jamboree Housing Corporation, the managing general partner for Wakeham —Grant <br />Apartments, L.P. has qualified and is in good standing as a Community Housing <br />Development Organization; <br />C. Among the purposes of the HOME Program are (1) to expand the supply <br />of decent, safe, sanitary, and affordable housing, with primary attention to rental housing, <br />for very low-income and low-income Americans; and (2) to provide participating <br />jurisdictions, on a coordinated basis, with the various forms of federal housing assistance, <br />including capital investment, mortgage insurance, rental assistance, and other federal <br />assistance, needed (a) to promote the development of partnerships among the federal <br />government, states and units of general local government, private industry, and nonprofit <br />organizations able to utilize all available resources to provide more of such housing, and <br />(b) to expand the capacity of nonprofit Community Housing Development Organizations <br />to develop and manage decent, safe, sanitary and affordable housing; <br />D. Developer is the owner of that certain property commonly Irnown as the <br />Wakeham — Grant Apartments, within the City of Santa Ana, California, and legally <br />described in Exhibit A attached hereto (the "Property"). The loans referenced herein shall <br />assist in the acquisition, new construction and/or rehabilitation of said Property that is <br />improved for a multifamily or single-family residential housing development. <br />E. Developer is on the City Approved List of Community Housing <br />Development Organizations and has been certified and approved to utilize HOME <br />Program/CFIDO funds. <br />F. In furtherance of the HOME Program, Developer has applied to City for a <br />loan with which to: <br />