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4918-5821-5178.6 011249.016
<br />CalHFA Standstill Agreement (Density Bonus – Locality)
<br />______________– CalHFA No. ______________
<br />12/05/2024.OGC.ogc.HFMF-478357159-19
<br />REV: 05-28-25 LF
<br />restrictions including those imposed by the Density Bonus Laws;
<br />
<br />B. WHEREAS, Sections 2.2(f), 2.4(a) and (b), 2.7, 3.1-3.4, 4.2, 4.3(b), 4.4, 5.1-5.3,
<br />6.2-6.3, 6.5-6.7 of the Density Bonus Agreement shall be referred to herein as the “Standstill
<br />Provisions”;
<br />
<br />C. WHEREAS, CalHFA is making, contemporaneously with the making of this
<br />Agreement, a first mortgage loan to Borrower [(the “CalHFA Permanent Loan”) and a second
<br />mortgage subsidy loan (the “CalHFA Subsidy Loan”)] ([collectively the CalHFA Permanent Loan
<br />and the CalHFA Subsidy Loan shall be referred to herein as ]the “CalHFA Loan”).
<br />
<br />D. WHEREAS, the CalHFA Permanent Loan is evidenced by a promissory note from
<br />the Borrower to CalHFA in the face amount of _____________ and NO/100s Dollars
<br />($__________.00) (the “CalHFA Permanent Note”) secured by a deed of trust. The deed of trust
<br />was executed by Borrower, as trustor, to ______________, as trustee, in favor of CalHFA, as
<br />beneficiary, and is entitled “California Housing Finance Agency Permanent Deed of Trust with
<br />Assignment of Rents, Security Agreement and Fixture Filing, CalHFA Development No.
<br />______________ (______________)” dated ___________ 1, 202_ (the “CalHFA Permanent
<br />Deed of Trust”) to be recorded in the Official Records contemporaneously with this Agreement.
<br />The Development shall also be regulated and encumbered by a regulatory agreement executed by
<br />Borrower and CalHFA entitled “California Housing Finance Agency, Regulatory Agreement,
<br />CalHFA Development No. ______________ (______________)” dated as of ___________ 1,
<br />202_ (the “CalHFA Permanent Regulatory Agreement”) to be recorded in the Official Records
<br />contemporaneously with this Agreement;
<br />
<br />E. WHEREAS, the CalHFA Subsidy Loan is evidenced by a promissory note from
<br />the Borrower to CalHFA in the face amount of ________________ and NO/100s Dollars
<br />($___________.00) (the “CalHFA Subsidy Note”) secured by a deed of trust. The deed of trust
<br />was executed by Borrower, as trustor, to ______________, as trustee, in favor of CalHFA, as
<br />beneficiary, and is entitled “California Housing Finance Agency Subsidy Deed of Trust with
<br />Assignment of Rents, Security Agreement and Fixture Filing, CalHFA Development No.
<br />______________ (______________)” dated ___________ 1, 202_ (the “CalHFA Subsidy Deed
<br />of Trust”) to be recorded in the Official Records contemporaneously with this Agreement. The
<br />Development shall also be regulated and encumbered by a regulatory agreement executed by
<br />Borrower and CalHFA entitled “California Housing Finance Agency, Regulatory Agreement,
<br />CalHFA Development No. ______________ (______________)” dated as of ___________ 1,
<br />202_ (the “CalHFA Subsidy Regulatory Agreement”) to be recorded in the Official Records
<br />contemporaneously with this Agreement.
<br />
<br />F. In addition, CalHFA has or will be filing a UCC Financing Statement with the
<br />Secretary of State evidencing Borrower's granting a security interest in the Development (“UCC
<br />Statement”). The CalHFA Permanent Regulatory Agreement, CalHFA Permanent Deed of Trust,
<br />CalHFA Permanent Note, CalHFA Subsidy Regulatory Agreement, CalHFA Subsidy Deed of
<br />Trust, CalHFA Subsidy Note] and related documents, and the UCC Statement shall hereafter be
<br />collectively referred to herein as the “CalHFA Documents”, the CalHFA Permanent Regulatory
<br />ATTY/AGR.2025.127/California Housing Finance Agency (CalHFA) (Page 2 of 11)
<br />6.K. - Page 6 of 15
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