NEIGHBORHOOD STABILIZATION PROGRAM 2

EXHIBIT A ALAMEDA COUNTY NSP WORK PROGRAM BETWEEN HOUSING AND COMMUNITY DEVELOPMENT DEPARTMENT AND CONTRACTOR DATE THROUGH DATE CONTRACTOR shall use the NSP funds under this contract to acquire and rehabilitate approved, vacant or blighted housing units that are foreclosed and in need of renovation, located in qualifying neighborhoods within the County of Alameda, and then sell these units to Eligible Purchasers and Eligible Non Profits. The goal of this program is to remove vacant and blighted properties from the community, returning these properties to useful life. A Activities Over the term of this contract, it is expected that CONTRACTOR shall purchase, rehabilitate and resell or transfer between 20 and 30 Qualifying Properties in Qualifying Neighborhoods, but shall complete no less than 20 Qualifying Properties. It is further expected that CONTRACTOR shall spend a minimum of $531,732 of this contract on properties to be rented to low- income households as required by the NSP regulations. CONTRACTOR is fully responsible for all aspects of the Program, as outlined under below. 1. Property Selection. CONTRACTOR will search for Qualifying Properties for inclusion in the Program. a. Negotiations with Seller. CONTRACTOR may make purchase offers and negotiate terms for Qualifying Properties, as long as any such purchase offer includes the following contingencies: i. Contractor's receipt of evidence that the property is Foreclosed, and that the foreclosing entity owns the property. ii. Contractor's receipt of evidence that the Appraised Value of the property supports the inclusion of the property in the Program. iii. Contractor's receipt of an environmental study that concludes that the property meets NEPA standards. iv. Contractor's receipt of a wood destroying pest report acceptable to Contractor. v. Contractor's receipt of a flood plain report acceptable to Contractor. vi. Contractor's receipt of a home inspection report acceptable to Contractor.