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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 l\ tU day of cr6atTLI , 2014 by and between the City of San Leandro, a California charter city ("City"). an -lello Housing, a California nonprofit public benefit Corporation ("Borrower"). R.EC ITALS A. Borrower acquired certain real property located at 324 Lille Avenue in San Leandro, California and identified as Alameda County Assessor's Parcel No. 75-0167-010-00, as more particularly described in Exhibit A attached hereto and incorporated herein (the "Property"). B Borrower intends to rehabilitate one existing single family home located on the Property(the"Project"),and following such rehabilitation,the Borrower intends to transfer its fee interest in the Property to Housing Consortium of the East Bay,a California nonprofit public benefit corporation, or any other entity under the direct control of Housing Consortium of the East Bay ("HCEB"),and assign its rights,duties and obligations under the Loan Documents to HCEB. "Loan Documents" means this Agreement, the Note, the Regulatory Agreement, and the Deed of Trust. Upon such transfer, HCEB intends to assume the rights, duties, and obligations under the Loan Documents from the Borrower,and,thereafter,to lease the residential units within the Improvements to income-eligible households in accordance with that certain Regulatory Agreement to be entered into by and between City and Borrower substantially in the form attached hereto as Exhibit B (the "Regulatory Agreement"). C. 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. D. Borrower has applied to the City for, and City has agreed to provide, a loan (the "Loan") to Borrower in the amount of One Hundred Thousand Dollars ($100.000) (the "HOME Funds") in accordance with the terms and conditions of this Agreement. E. 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 July 1. 2013 ("Subrecipient Agreement"). F. The Loan will be provided by the City in accordance with federal regulations governing the HOME Program as set forth in 42 U.S.C. 12741 et seq., and 24 CFR Part 92, all as 2220130.1 Page 1