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OWNER/GRANTEE AGREEMENT This Owner /Grantee Agreement is made this 27th day of June , 19 88 between the City of Pleasanton , hereinafter referred to as the "grantee ", and Eden Housing, Inc. , a corporation under the laws of the State of California , hereinafter referred to as the "Owner." Witnesseth WHEREAS, the Grantee has applied for and been selected to receive a Housing Development Grant (HDG) from the United States Department of Housing and Urban Development (HUD) pursuant to Section 17 of the U.S. Housing Act of 1937 and the HDG .regulations promulgated thereunder and contained in 24 CFR Part 850 for the purpose of assisting the development of the Project; and WHEREAS, the Grantee and HUD have entered into a Grant Agreement dated September 30, 1987* , for Project Number CA031 HG701 , setting forth the terms of the HDG which terms include the execution of this Agreement by the Owner and the Grantee, said Grant Agreement is incorporated herein by reference; and *Preliminary Approval Date WHEREAS, the Owner proposes to construct the Project in accordance with the Grant Agreement, including Exhibits A, C, D and E thereto; and WHEREAS, the Owner agrees to reserve a number of the multifamily rental units for lower- income persons as specified in section 1.01(e)2 of the Grant Agreement and in section 1.1 of this Agreement; and WHEREAS, the Grantee agrees to provide a grant or a loan (as specified in Exhibit B of the Grant Agreement) and the Owner agrees to accept a grant or a loan in an amount not to exceed $4,000,000,00 NOW, THEREFORE, in consideration of the foregoing premises and the mutual promises hereinafter set forth, the parties hereto, intending to be legally bound, agree as follows: Article l Project Description Section 1.1. Project - Specific Provisions (A) Maximum HDG Amount: $ 4,000,000.00 (B) Project Leveraging Ratio: 2.95