Agmt13 Kainos Home and Training Center funds to acquire 1033 Redwood Ave

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Exhibit A (Program and Project Description) PROGRAM/PROJECT DESCRIPTION & REQUIREMENTS 1. Proiect Description and Eliqible Costs: Funds hereunder are provided pursuant to 24 CFR 92, regulations covering the use of HOME funds. HOME funds of $450,000.00 provided under this Agreement shall be used to assist in the acquisition of a single family dwelling located at 1033 Redwood Avenue, Redwood City, California ("ProjecY' or "Property").to be used as permanent supportive rental housing for adults with developmental disabilities. Kainos shall use the funds provided hereunder for the advancement of programs that provide affordable housing to very low-income special needs residents of the City. The HOME-assisted rental housing acquired with the HOME funds provided under this Agreement will meet all applicable state and local codes, ordinances and housing standards. Contractor must maintain Property in accordance with property standards throughout the affordability period in addition to all other applicable laws, ordinances, rules and regulations of federal, state, county or municipal governments or agencies now in force or that may be enacted hereafter that govern the Project. The Project is a single family home with a totaf of four (4) bedrooms and is considered one HOME assisted unit subject to the HOME requirements. The table below is the estimated Project budget. Funds for this Project in addition to the City HOME assistance are provided by the Contractor and changes to the budget are subject to approval by the City: Total Acquisition Cost: $750,000 Sources: Redwood Cit - HOME $450,000 Kainos $300,000 2. Use: Contractor shall use the Property exclusively for permanent supportive rental housing for adults with developmental disabilities. If contractor discontinues this stated use at the subject Property, or uses the Property or any portion thereof, for purposes other than what has been described in the this Paragraph without first obtaining the prior written consent of the City, Contractor shall be in default of this Agreement and agrees to pay the City, upon demand, the full amount of the HOME funds provided to assist in the acquisition of the property, provided however Contractor shall have thirty (30) days to cure the default after receipt of a notice of default is provided in writing by the City. The restrictions imposed upon the Property as set forth in this paragraph shall remain in full force and effect for the term of the Loan regardless of whether the loan the is paid off before its maturity date 3. Form of HOME Subsidv: The HOME financial assistance from the City as provided under this Agreement shall be evidenced by a Promissory Note in favor of the City, in the form attached hereto as Exhibit "C" (the "Promissory Note") and secured by a deed of trust on the Property (the "Deed of Trust"), in the form attached hereto as Exhibit "D". A1T(/AGR/2013.043/KAINOS-1033 REDWOOD AVE REV:03-28-13 VR Page 16 of 34