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CALIFORNIA HOME FINANCE AUTHORITY AMENDED AND RESTATED <br /> JOINT EXERCISE OF POWERS AGREEMENT <br /> (Original date July 1, 1993 and as last amended and restated December 10, 2014) <br /> THIS AMENDED AND RESTATED JOINT EXERCISE OF POWERS <br /> AGREEMENT("Agreement")is entered into by and among the counties listed on <br /> Attachment 1 hereof and incorporated herein by reference.All such counties are referred <br /> to herein as "Members" with the respective powers,privileges and restrictions provided <br /> herein. <br /> RECITALS <br /> A. WHEREAS,the California Rural Home Mortgage Finance Authority <br /> ("CRHMFA")was created by a Joint Exercise of Powers Agreement dated July 1, 1993 <br /> pursuant to the Joint Exercise of Powers Act(commencing with Article 1 of Chapter 5 of <br /> Division 7 of Title 1 of the Government Code of the State of California(the"Act"). By <br /> Resolution 2003-02, adopted on January 15, 2003,the name of the authority was changed <br /> to CRHMFA Homebuyers Fund. The most recent amendment to the Joint Exercise of <br /> Powers Agreement was on January 28, 2004. <br /> B. WHEREAS,the Members of CRHMFA Homebuyers Fund desire to update, <br /> reaffirm, clarify and revise certain provisions of the joint powers agreement, including <br /> the renaming of the joint powers authority, as set forth herein. <br /> C. WHEREAS,the Members are each empowered by law to finance the <br /> construction, acquisition, improvement and rehabilitation of real property. <br /> D. WHEREAS,by this Agreement,the Members desire to create and establish a <br /> joint powers authority to exercise their respective powers for the purpose of financing the <br /> construction, acquisition, improvement and rehabilitation of real property within the <br /> jurisdiction of the Authority as authorized by the Act. <br /> NOW, THEREFORE, in consideration of the mutual covenants contained herein, <br /> the Members individually and collectively agree as follows: <br /> 1. Definitions <br /> Unless the context otherwise requires,the following terms shall for purposes of <br /> this Agreement have the meanings specified below: <br /> "Act" means the Joint Exercise of Powers Act, commencing with Article 1 of <br /> Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California, <br /> including the Marks-Roos Local Bond Pooling Act of 1985, as amended. <br /> "Agreement" means this Joint Exercise of Powers Agreement, as the same now <br /> exists or as it may from time to time be amended as provided herein. <br />