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Promissory Note in favor of the City dated as of September 10, 2007 in <br />the original principal amount of $2,022,000 ("City Note"). <br />C. Borrower, City and Agency desire to amend the City and Agency Loan <br />Documents as set forth below. <br />NOW, THEREFORE, for valuable consideration, the receipt and <br />sufficiency of which are hereby acknowledged, the City, Agency and Borrower <br />agree as follows: <br />1. Amendment of City and Agency Loan Documents. The City and Agency <br />Loan Documents are hereby amended as follows: <br />a. The HUD-Required Provisions Rider attached hereto as Exhibit A is <br />incorporated by this reference in each of the City and Agency Loan Documents; <br />and <br />b. The Loan Rider (Borrower's Limited Partner) attached hereto as Exhibit <br />B is incorporated by this reference in each of the City and Agency Loan <br />Documents. <br />2. Amendment of Aaency Note. The Agency Note is hereby amended to <br />reduce the interest rate as follows: Interest shall accrue on the outstanding <br />principal balance of the Agency Note at a rate equal to three quarters of one <br />percent (0.75%) simple interest per annum. The following sentence is hereby <br />added to Section 1.1 of the Agency Note: "In no event shall the Maturity Date be <br />later than December 31, 2066." All other provisions of the Agency Note shall <br />remain unchanged and in full force and effect. All references to the Agency Note <br />in the City and Agency Loan Documents shall mean the Agency Note as amended <br />hereby. <br />3. Amendment of City Note. The City Note is hereby amended as to add the <br />following sentence to Section 1.1 of the City Note: "In no event shall the Maturity <br />Date be later than December 31, 2066." All other provisions of the City Note shall <br />remain unchanged and in full force and effect. All references to the City Note in <br />the City and Agency Loan Documents shall mean the City Note as amended <br />hereby. <br />4. Effective Date. This Amendment shall be effective upon the recording of this <br />Amendment in the Official Records of Alameda County ("Effective Date"). <br />Except as amended by this Amendment, the City and Agency Loan Documents <br />remain unchanged and in full force and effect. <br />5. Confirmation of Security Interest. Nothing in this Amendment shall affect or <br />be construed to affect the validity of the lien created by any of the City and <br />Agency Loan Documents. <br />1194386-5 2 <br />