FULL AGENDA_2018-01-16 - Laserfiche WebLink

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3 20 Civic Center Plaza, Santa Ana, California 92702. “Agency” shall also refer to the City where the context dictates, to the effect that City shall have all rights granted to the Agency hereunder. "Agency Deed of Trust" means the deed of trust encumbering the Property, in the form attached as Exhibit C to the Agency Loan Agreement, to be executed by Developer pursuant to Section 5.B.1 in order to secure the Agency Loan Note. "Agency Loan" means a loan in the original principal amount of up to eight million five hundred twenty-two thousand seven hundred forty dollars ($8,522,740) to be made to Developer by the Agency to be funded exclusively from the Low and Moderate Income Housing Asset Fund held by the Agency. "Agency Loan Agreement" means the Loan Agreement regarding the loan of LMIHAF funds between the Agency and the Developer, and any attachments thereto. "Agency Loan Documents" means, collectively, the Agency Loan Agreement, Agency Promissory Note, Agency Deed of Trust and this Agreement, and any other agreement, document, or instrument that the Agency requires in connection with the execution of this Agreement or from time to time to effectuate the purposes of this Agreement. "Agency Promissory Note" means that certain promissory note for Agency Loan funds in the original principal amount of $8,522,740 in the form attached as Exhibit D to the Agency Loan Agreement, and to be executed by Developer in favor of Agency to evidence the obligation of Developer to repay the Agency Loan through residual receipts as further described in the Agency Promissory Note. "Agreement” means this Affordability Restrictions on Transfer of Property between the Agency and the Owner affecting real property. "Applicable Law" shall mean those federal, state and local laws, ordinances, regulations, policies and procedures applicable to the Agency Funds. "Building Permit" means the building permit(s) issued by the City and required for the construction. "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. "Certificate of Completion" has the meaning set forth in Article 17 of the Agency Loan Agreement. "City" means the City of Santa Ana, California, a charter city and municipal corporation. “City” shall also refer to the Agency where the context dictates, to the effect that the Agency shall have all the rights granted to the City hereunder. EXHIBIT 3 3-64