Agmt00 Habitat for Humanity purchase of Rolison and Haven

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F. The City and Habitat desire to amend the Construction Exhibit, Funding Exhibit, and Grant Deed Addendum to reflect Habitat's current affordable housing program requirements by changing the income eligibility requirement to a household that does not exceed sixty percent (60%) of the area median income and deleting the requirement that a household must have a minimum of five (5)members. AGREEMENT NOW, THEREFORE,the Parties agree as follows: 1. Amendment to Construction Exhibit. Section 7(1) of the Construction Exhibit is hereby deleted in its entirety and replaced as follows: (1) Have a household income at or below sixty percent (60%) of the area median income established by HUD for San Mateo County. 2. Amendment to Fundin� Exhibit. Section 8 of the Funding Exhibit is hereby deleted in its entirety and replaced as follows: 8. HOME PROGRAM REQUIREMENT: HABITAT shall comply with the requirements and standards of the HOME Investment Partnership Regulations relating to: Income targeting to HOME limits of sixty percent (60%) and below median income; affordability term of no less than thirty (30) years; recarded deed restrictions at the time of sale to a HOME eligible buyer which provides for the recapture of HOME funds and first right of refusal in the event of sale prior to the completion of the required affordability period; maximum sales price not to exceed ninety-five percent (95%) of area median sale prices of Two Hundred Fifty-Two Thousand Seven Hundred Dollars ($252,700), whichever is less; and requirement for the dwelling to be the primary residence of a low income owner with monthly housing costs of principal, interest, taxes and insurance utilities and homeowner association fees at no more than thirty percent(30%) of the household's gross income. 3. Amendment to Grant Deed Addendum. (a) Section 3(c)(2) is hereby deleted in its entirety and replaced as follows: (2) has a household income not to exceed sixty percent (60%) of the area median income for San Mateo County established by the U.S. Department of Housing and Urban Development, and ATTY/AGR/2013/AMENDMENTS/AMENDMENT TO RESTRICTIONS HABITAT FOR HUMANITY REV:01-14-13 VR Page 2 of 4