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five (55) years commencing upon Owner's acquisition of the Property (the "General <br />Affordability Restriction Period"). In addition, for the first fifteen (15) years of the General <br />Affordability Restriction Period (the "HOME Affordability Restriction Period"), one (1) two- <br />bedroom unit in the Project (the "HOME Unit") is required to be occupied, or available for <br />occupancy, by Very Low -Income Households at Affordable Rent. Following the HOME <br />Affordability Restriction Period, the HOME Unit is required to be occupied or available for <br />occupancy by Low -Income Households at Affordable Rent for the remaining 40 years of the <br />General Affordability Restriction Period. <br />E. The Parties desire to amend certain terms as set forth in this Second Addendum. <br />NOW THEREFORE, in consideration of the foregoing, and other valuable <br />consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby <br />agree as follows. <br />1. The definition of the "HOME Affordability Restriction Period" in Section 1.2 of the First <br />Addendum is hereby replaced with the following definition: <br />"HOME Affordability Restriction Period" means the first fifteen (15) years of the General <br />Affordability Restriction Period. <br />2. Section 3. 1.1 of the of the First Addendum is hereby amended by the following additions <br />(indicated by double underlining) and deletions (indicated by double strikethroughs): <br />3.1.1 HOME Unit. Throughout the (15) fifteen -year HOME <br />Affordability Restriction Period, one (1) two-bedroom unit in the Project shall be a <br />HOME Unit and shall be subject to the affordability and occupancy requirements of the <br />HOME Program. The HOME Unit shall be a ["fixed unit."] The HOME Unit shall be <br />restricted for occupancy by Eligible Households who qualify, as Very Low -Income <br />Households, and rent for the HOME Unit shall be restricted to Low HOME Rent. For <br />purposes of calculating allowable rents for the HOME Unit, imputed household size shall <br />be 1.5 persons per bedroom. Following the HOME Affordability Restriction Period, the <br />HOME Unit is required to be occupied or available for occupancy, by Low -Income <br />Households at Affordable Rent for the remaining 4=5 40 years of the General <br />Affordability Restriction Period. <br />3. Conflicts: Ratification. The terms of this Second Addendum shall govern and control <br />over any conflicting provisions in the First Addendum. Except in the case of such conflicts and <br />as expressly amended by the Second Addendum, the terms and provisions of the First Addendum <br />remain unchanged and in full force and effect. <br />4. Counterparts. This Second Addendum may be executed in counterparts, each of which <br />shall be an original, and all of which together shall constitute one original of this Second <br />Addendum. <br />5. Entire Agxeemegt. The Loan Agreement and First Addendum, including all exhibits <br />attached thereto, and this Second Addendum, constitute the entire agreement concerning the <br />REV: 12-08-2021 SK <br />