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AMENDED AGREEMENT WITH HOUSING ASSOCIATION FOR THE NEEDY AND DISPOSSESSED, INC. (HAND) TO REHABILITATE REDWOOD OAKS APARTMENTS AT 330-340 REDWOOD A VENUE THIS AMENDED AGREEMENT, made and entered into this 1.5~ day of ~, 2002, by and between the CITY OF REDWOOD CITY, a ~i~ipal ~~ration of the State of California, ("City") and HOUSING ASSOCIATION FOR THE NEEDY AND DISPOSSESSED, INC., A NON-PROFIT COMMUNITY DEVELOPMENT HOUSING ORGANIZATION, ("Contractor"). WITNESSETH: WHEREAS, pursuant to Section 24 of the Code of Federal Regulations, Part 92 for the HOME Investment Partnership Program (HOME), funding assistance may be used to fund eligible activities to be carried out by private non-profit entities or public agencies which are duly organized to undertake affordable ownership housing development; and WHEREAS, the City Council of City has previously approved an agreement entitled, "Agreement with Housing Association for the Needy and Dispossessed, Inc. (HAND), a Non-Profit CHDO for Funding to Rehabilitate Redwood Oaks Apartments at 330-340 Redwood Avenue" providing Contractor with a loan in the amount of One Hundred Fifty Three Thousand One Hundred Forty-Four and NO/100 Dollars ($153,144.00) to rehabilitate the Building. Approval by City is evidenced by Resolution No. 14036, adopted September 11, 2000; and WHEREAS, the City's Consolidated Plan and Housing Element goals include expanding the supply of affordable ownership housing for Redwood City households; and WHEREAS, Contractor has applied for additional funding assistance under the HOME Program to rehabilitate Redwood Oaks Apartments at 330-340 Redwood Avenue in the City of Redwood City (the "Property"); and WHEREAS, the following exhibits are attached hereto and incorporated by reference herein: Exhibit A: Exhibit B: Exhibit C: Program Services Promissory Note Deed of Trust 12/17/01 - 1 -