NORTH HARBOR HOUSING PARTNERS, LP (CO JAMBOREE HOUSING CORPORATION)

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(g) The Completion Date is extended from January 30, 2023 to March 31, 2024. (h) Bond Purchaser has agreed to waive the condition to extension set forth in Section 4(c) of the Taxable Note and the Tax -Exempt Note, and the Construction Term Maturity Date is extended to the First Extended Maturity Date of April 1, 2024 pursuant to Section 4 of the Taxable Note and the Tax -Exempt Note. (i) The "Second Extended Maturity Date" in the Note is hereby amended to mean February 1, 2025. 0) Notwithstanding the extension of the Second Extended Maturity Date contained in Section 2(e) hereof, if the Conversion Date occurs later than October 1, 2024, Borrower shall commence payments of principal and interest due and payable pursuant to Section 3(c) of the Tax -Exempt Note with respect to the maximum Permanent Loan Commitment Amount set forth in the Tax -Exempt Note as though the Conversion Date had occurred on October 1, 2024, notwithstanding that the Outside Conversion Date may have been extended to the Second Extended Maturity Date, as extended herein. The unpaid Principal Balance in excess of the Permanent Loan Commitment Amount shall continue to bear interest at the interest rate application during the Construction Term pursuant to Section 2 of the Tax -Exempt Note and remain payable pursuant to the terms of Sections 3(a) and 3(b) of the Tax -Exempt Note. (k) Bond Purchaser and Borrower agree that Jamboree Housing Corporation, a California nonprofit public benefit corporation ("Sponsor"), in its capacity as Guarantor and as a subordinate lender, is making an unsecured loan to the Borrower in the amount of $13,504,333 pursuant to the Unsecured Promissory Note ("Sponsor Development Advance Note") made by Borrower in favor of Sponsor (the "Sponsor Development Advance"). Sponsor hereby agrees that it shall fund the proceeds of the Sponsor Development Advance to pay Project Costs in accordance with the Budget approved by Bond Purchaser, as it may be amended with Bond Purchaser consent pursuant to the terms of the Loan Agreement, in accordance with a disbursement schedule approved by Bond Purchaser or as otherwise directed by Bond Purchaser. (1) Bond Purchaser acknowledges that Borrower has applied for an additional subordinate loan from the Orange County Housing Finance Trust ("OCHFT") in the amount of $1,289,610 (the "MHSA Loan") and a grant to Sponsor from CalOptima in the amount of $4,721,241 (the "CalOptima Grant'). Bond Purchaser and Borrower agree that upon the execution of loan documents with the OCHFT evidencing the MHSA Loan and a subordination agreement between Bond Purchaser and OCHFT, all in form and substance acceptable to Bond Purchaser, the amount of the undisbursed maximum principal balance of the Sponsor Development Advance may be reduced by the amount of the MHSA Loan. (m) Bond Purchaser and Borrower further agree that upon the receipt of CalOptima Grant funds, Borrower shall cause Sponsor to disburse such funds into a bank - controlled account held by Bond Purchaser, to be funded for the payment of Project Costs pursuant to the terms of the Loan Agreement. 4 4877-2583-3588, v.8