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Ms. Katherine Merschel Executive Director Eden Housing, Inc. 22941 Atherton Street, Suite D Hayward, California Re: Ridge View Commons (formerly Willow Glen) CHFA #87 -007 -N 200 Units Pleasanton /Alameda Dear Ms. Merschel: CALIFORNIA HOUSING FINANCE AGENCY FINAL COMMITMENT LETTER FOR PERMANENT FINANCING November 2, 1988 In consideration of the covenants and representations contained in that certain Application for Mortgage Financing executed by Eden Housing, Inc., ( "Borrower /Developer ") and other supporting documentation of Borrower /Developer's application package ( "Application "), which Application is attached hereto as Appendix A and incorporated herein by this reference, and subject to the terms and conditions set forth herein and in the Application, the California Housing Finance Agency ( "Agency ") hereby agrees to make a bond financed permanent first mortgage loan ( "Permanent Mortgage Loan "), a State /Local Program construction loan ( "State /Local Construction Loan ") and a State /Local Program permanent second mortgage loan ( "State /Local Permanent Loan ") to Borrower /Developer for the financing of the above identified development ( "Development "). 1. Acceptance. This final commitment shall expire on December 31, 1988, unless by said date the Borrower /Developer accepts this final commitment by delivering to the Agency at any of its three offices the original copy of this letter, executed as provided on the last page. Any application fee previously paid shall be nonrefundable but shall be applied in partial satisfaction of the financing fee provided for in subparagraph 5.a. below. 2. Term of Commitment. This commitment shall expire on January 1, 1990, unless the Permanent Mortgage Loan has closed (deemed to occur on the date that the loan documents are duly recorded) on or before that date. Any further extension of this commitment will require Agency Board approval.