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HOME LOAN AGREEMENT CITY OF SAN LEANDRO HOME INVESTMENT PARTNERSHIPS ( "HOME") PROGRAM This HOME Loan Agreement (this "Agreement ") is made as of the day of , 2012 by and between the City of San Leandro, a California municipal corporation ( "City "), and Alameda Housing Associates, L.P., a California limited partnership ( "Borrower "). RECITALS A. Borrower has acquired or has the right to acquire certain real property located at in San Leandro, California and identified as Alameda County Assessor's Parcel No. 075 -0039- 007-05, as more particularly described in Exhibit A attached hereto and incorporated herein (the "Property "), on which Borrower will construct a two hundred (200) unit multifamily housing project (the "Project ") which Borrower will operate as an affordable housing development in accordance with that certain Regulatory Agreement dated as of the date hereof and executed by and between City and Borrower substantially in the form attached hereto as Exhibit A (the "Regulatory Agreement "). Capitalized terms not defined herein shall have the meanings ascribed to them in the Regulatory Agreement. B. The City is a participating jurisdiction in the Alameda County HOME Consortium ( "Consortium ") and is a recipient of funds pursuant to the HOME Investment Partnership Act, established by the National Affordable Housing Act of 1990 (42 USCA §12471 et seq.) ( "HOME Program ") that are subject to certain restrictions established by the United States Department of Housing and Urban Development ( "HUD ") under 24 CFR 92. C. Borrower has applied to the City for, and City has agreed to provide, a loan (the "Loan ") to Borrower in the amount of Six Hundred Fifty Thousand Dollars ($650,000) (the "HOME Funds ") in accordance with the terms and conditions of this Agreement. D. Borrower and the City acknowledge and agree that the commitment of HOME Funds by the City shall be solely and exclusively paid from and contingent upon receipt of HOME funding by the City pursuant to that certain Agreement between the City and the County of Alameda dated September 13, 2011 ( "Consortium Agreement ") and that certain Contract Designating the City of San Leandro as a Subrecipient of HOME Funds between the City and the County of Alameda dated ( "Subrecipient Agreement "). . E. The Loan will be provided by the City in accordance with federal and state regulations governing the HOME Program as set forth in 42 U.S.C. 12741 et seq., 24 CFR Part 92, California Health and Safety Code Section 50896, and Title 25 of the California Code of Regulations, Sections 8200 through 8220, all as amended and in effect from time to time (all of the foregoing, collectively, the ( "HOME Program Regulations "). 1908324.5