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DEPOSIT AGREEMENT FOR CHFA BOND FEE REQUIREMENT This Agreement is made as of this 15th day of June 1988, by and between the City of Pleasanton, California, a municipal corporation (the "Depositor "), and the Bank of Pleasanton (the "Depository "), located at 555 Peters Avenue, Pleasanton, California 94566. Whereas, the Depositor has or will enter into a Building Loan Agreement with Eden Housing, Inc., a California nonprofit corporation (the "Developer "), for the construction of a 200 -unit rental housing project for elderly low and lower income persons; and Whereas, the Developer has or will obtain a permanent financing commitment from the California Housing Finance Agency ( "CHFA ") to take out the construction loan made_by the Depository; and Whereas, CHFA requires the Developer, or a party on behalf of the Developer, to pay to CHFA a Bond Financing Fee in the amount of 5327,600.00 or 3.5% of the principal amount of CHFA's permanent mortgage loan, whichever is greater. The Bond Financing Fee is to be applied as of the date of permanent loan closng or the date of expiration of CHFA's permanent loan commitment in the following priority: a. To CHFA in the event the permanent loan closing does not occur on or before two (2) years from the date of CHFA's bond closing; or b. To CHFA in the amount of any Affirmative Action penalties assessed against the Developer by CHFA; or c. To the Depositor in the amount of any construction costs incurred in excess of the original principal amount of the construction loan; or d. To CHFA in the amount of any construction completion escrow not otherwise funded by the Developer; or e. To the Depositor to the extent not applied pursuant to subparagraphs (a) through (d) above. Whereas, the construction of the 200 rental units in the City of Pleasanton will benefit the community, the Depositor has agreed to provide the funds for the Bond Financing Fee on behalf of the Developer; and Now, therefore, in order to induce CHFA to proceed with the issuance of its bonds to fund the permanent mortgage loan for the project, and in consideration of the mutual covenants set forth herein, and for other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. The sum of Three hundred twenty -seven thousand six hundred and no /100th Dollars (5327,600.00), in the form of cash, is or has been deposited, and the Depository acknowledges receipt of the.same.