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ORIGINAL THIRD AMENDMENT TO AGREEMENT WITH HABITAT FOR HUMANITY GREATER SAN FRANCISCO FOR FUNDS TO ACQUIRE 612 JEFFERSON THIS THIRD AMENDMENT TO AGREEMENT ("Third Amendment') is made and entered into this 19'If" day of i�p m ! 2019, by and between the CITY OF REDWOOD CITY, a charter city and municipal corporation of the State of California ("City") and HABITAT FOR HUMANITY GREATER SAN FRANCISCO, a California nonprofit organization ("Contractor"; collectively the "Parties"). RECITALS: WHEREAS, the Parties are parties to that certain Agreement, dated February 24, 2015 (the "Original Agreement'), whereby the City agreed to provide Contractor One Hundred Fourteen Thousand Eight Hundred Ninety Five and no/100 dollars ($114,895) of financial assistance, in the form of federal Community Development Block Grant Program ("CDBG") funds, to assist Contractor in acquiring property located at 612 Jefferson Avenue in Redwood City to be used to construct up to twenty (20) units of affordable ownership housing for low income households, as more specifically described in the Original Agreement; and WHEREAS, on October 22, 2015, the Parties executed an Amendment to Agreement ("First Amendment') in order for City to provide Contractor with additional CBDG funds in the amount of $276,493 to assist Contractor in paying for certain pre -development costs of the Project, and the City agreed to do so, as provided in the First Amendment; and WHEREAS, on June 28, 2016, the Parties executed an Amendment No. 2 to Agreement ("Second Amendment') in order to extend the Period during which the $276,493 in funding may be used, from June 30, 2016 to June 30, 2017, and the City agreed to do so, as provided in the Second Amendment (the Original Agreement, First Amendment and Second Amendment are collectively referred to herein as the "Agreement'); and WHEREAS, on May 22, 2017, the City Council adopted Resolution 15588 approving the development of a twenty (20) unit affordable residential ownership project at 612 Jefferson (the "Project"); and WHEREAS, the conditions of approval require that the Project remain affordable to low- income households for a period of not less than fifty (50) years; and WHEREAS, the Parties now wish to revise the Agreement in order to implement the conditions of approval for the Project. NOW, THEREFORE, the Parties hereby agree as follows: 1. General. The Recitals, and defined terms therein, are incorporated herein by this reference as though fully set forth herein. Any capitalized term not otherwise defined in this Third Amendment shall have the meaning provided for that term in the Agreement. 2. First Amendment to Affordability Covenants. The First Amendment to Affordability Covenants is attached to this Third Amendment and incorporated by reference as Exhibit A. 3. Program and Project Description Revised. Exhibit B of the Original Agreement is hereby revised such that any reference to "thirty (30) years" or a "30 year term" shall be substituted with "fifty (50) years' or a "50 year term", respectively. In the event of any conflict between Exhibit A of ATTY/AGR/2019/AMENDMENTS/AMEND NO. 3 HABITAT FOR HUMANITY GREATER SAN FRANCISCO REV: 07-18-19 PR Page 1 of 13