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5.Modification of Loan Term. The term of the Loan shall be extended to the date which is 55 <br /> years from the date of recordation of this Agreement(the "Maturity Date"). <br /> 6. Modification of Affordability Requirements in the Regulatory Agreement. In addition to <br /> the 5 Restricted Units for Very Low Income under the Regulatory Agreement, Assignee agrees to <br /> operate 13 of the current market rate units for households at 60% of Area Median Income as such <br /> units are vacated by the over income tenants. <br /> 6. Consent to Assignment. The City hereby consents to the assignment of the Loan <br /> Documents from Assignor to Assignee and hereby releases Assignor from all obligations <br /> imposed under the Loan Documents. <br /> 7. Assignor Representations. Assignor represents and warrants to City that: (i)Assignor has <br /> the power and authority to execute, deliver and perform its obligations under this Agreement; (ii) <br /> the execution, delivery and performance of this Agreement do not violate any rule, regulation, <br /> statute, law, order, decree,judgment or the like, or any agreement or instrument to which <br /> Assignor is a party, and Assignor is not in breach or default under the Loan Documents; (iii) <br /> Assignor has no defenses, setoffs, claims, counterclaims or causes of action of any kind or nature <br /> against City relative to the Loan Documents or this Agreement; and (iv) Assignor has not <br /> received any notice from any governmental agency relating to any alleged violation of law, <br /> ordinance,rule or regulation. <br /> 8. Assignee Representations. Assignee represents and warrants to City that: (i)Assignee is <br /> a duly organized, validly existing limited partnership in good standing under the laws of the State <br /> of California; (ii)Assignee has the power and authority to execute, deliver and perform its <br /> obligations under the Loan Documents and this Agreement; (iii)the execution, delivery and <br /> performance of the Loan Documents and this Agreement do not violate any rule, regulation, <br /> statute, law, order, decree,judgment or the like, or any agreement or instrument to which <br /> Assignee is a party, and Assignee is not in breach or default under any lease or other agreement <br /> to which it is a party; (iv)Assignee has no defenses, setoffs, claims, counterclaims or causes of <br /> action of any kind or nature against City; (v)Assignee has not received any notice from any <br /> governmental agency relating to any alleged violation of law, ordinance, rule or regulation; (vi) <br /> Assignee shall comply with all of the terms and provisions of the Loan Documents; and <br /> (vii)Assignee has not filed, and currently has no intention to file, for any bankruptcy or debtor <br /> relief, and Assignee is not insolvent. <br /> 9. Reaffirmation of Loan Documents. Assignee hereby affirms and agrees that(i)the Loan <br /> Documents constitute the valid, legally binding obligation of Assignee as of the date of this <br /> Agreement, enforceable against Assignee in accordance with their terms, and(ii) City shall have <br /> the right to exercise any and all remedies against Assignee, including actions to realize or collect <br /> upon the security, that City would have had against Assignor but for this Agreement. Assignor <br /> and Assignee shall not take any action of any kind, directly or indirectly,to oppose, impede, <br /> obstruct, enjoin or otherwise interfere with the exercise by City of any of its rights and remedies <br /> under the Loan Documents. <br /> 3 <br /> Assignment and Modification—50k AH <br />