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and for the Homebuyer to agree that the Property may only be marketed and sold and re-sold or otherwise transferred in whole or in part) to other qu al i fred Moderate Income Households at an Affordable Housing Cost for a forty-five 4 year period conform ng to � ie al th & Safety Code Section 33000, e t seq., in particular Section 3 3 3 34.2} et seq. (the "Program" ). The Agency has elected, pursuant to Health and Safety Code Section 4. 1 to permit sales of the Property prior to the expiration of the forty-five year period for a price in excess of an Affordable Housing Cost pursuant to an adopted program which protects the Agency's investment o f moneys from the Low and Moderate Income Housing Fund, through a schedule of equity sharing that p rrni i s retention by the Home b uy r of a portion of those s s proceeds. G. The Hornebu firer requires financial assistance to purchase the Property and would not be able to purchase the Property without such assistance. The Homeb u er is a person or family whose income is less than Moderate Income, as such terra is defined by California Health Safety Code Section 50093. H. The Homebu er represents and warrants to the Agency that the Horne b u y r and the H o m b u is immediate family/household members intend to reside in the Property as their principal re sidence at all tim s durin g the pe rind of t he Ho me b is oarn rship of the Property. I. The Agency wishes to lend and the Ho meh u yer wishes to borrow from the Agency funds in the form of a forty-five 4 year loan (the "Homeb u er Assistance Loan" secured b a subordinate 1 i n deed of trust to assist the Hor nebu er to pay a portion of the purchase price, dowry payment, and/or closing costs necessary to buy the Property pursuant to the Program and subject to the terms and conditions set forth herein. The principal baJance of the H m b uy r Assistance Doan will be forgiven in the evert that the Homeb u er (including its permitted assignees and transferees has complied with all of the terms and conditions of this Agreement during the Affordability Period. J. For a period (the "'Affordability Period") commencing upon the date on which t h Hornebuyer acquires fee title to the Property (the ; `Homebu er Assistance Loan Date") and terminating n the forty -fifth 4th anniversary thereof the "Affordability Period Terri nation Date"), the Property may only be transferred to another eligible, qualified Moderate Income Household at are Affordable Housing Cost ("'Eligible Persons and Families"). Hom b u er may, in H meh u er" s sole discretion, opt to transfer the Property at a price in excess of an Affordable Housing Cost during the Affordability Period pursuant to Section 11 hereof} upon payment of are equity sharing ono u n t to the g n h ereu nd r. NOW, W, TH REFORE, in consideration of the mutual promises and covenants set forth herein, the Parties hereto agree as follows: 1. flomebuyer Assistance Loan; Promissory Note. 101 Homebuyer Assistance Loan. The Agency loans to the Hornebu firer and the Homebu er borrows from the Agency the amount of Dollars (the "H mebuyer Assistance Loan Amount"), subject to the conditions and restrictions set forth herein and those set forth in the Promissory Note, Agency Deed of Trust, Notice of Affordable Restrictions, Affordable Housing Resale Restriction, and Disclosure ATTACHMENT X10. 11- Form of Homeb u firer Lo an Agrc ernent DO 1 40067 3 v 1 41200272 - 1