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ASSUMPTION AND ASSIGNMENT AGREEMENT This Agreement is entered into and made effective as of October 31, 1989, by and among Eden Housing Inc., a California nonprofit public benefit corporation ( "Transferor "), Ridge View Commons Associates, a California Limited Partnership ( "Transferee "), and California Housing Finance Agency, a public instrumentality and political subdivision of the State of California ( "Lender "). RECITALS A. The City of Pleasanton owns all that real property in the City of Pleasanton, County of Alameda, California, more particularly described as follows (the "Property "): Parcel 2 as shown on Parcel Map No. 5231, Recorded April 22, 1988 under Recorder's Series No. 88- 096708, in Book 176 of Maps at Pages 40 and 41, Alameda County Records. B. The Property is subject to a Ground Lease between the City of Pleasanton, as lessor, and Transferor, as lessee, disclosed by a Short Form Ground Lease pertaining thereto, recorded June 9, 1988, as Instrument No. 88- 138518 of Official Records and amended by an Instrument recorded June 30, 1988, as Instrument No. 88- 157652, of Official Records of the County of Alameda. C. Transferor has constructed a 200 -unit rental housing development (the "Improvements ") on the Property. D. In connection with Transferor's construction and ownership of the Improvements, Lender issued to Transferor a Firm Commitment dated November 2, 1988 (the "Firm Commitment "), to provide a $9,360,000.00 permanent loan and a $1,000,000.00 State /Local Construction Loan. E. Pursuant to the Firm Commitment, Lender has advanced to Transferor the full amount of the State /Local Construction Loan, which advance is evidenced by a Promissory Note dated December 1, 1988 (the "Note "), and secured by a cash deposit of $1,100,000.00 made by the City of Pleasanton and held by the Bank of Pleasanton pursuant to that certain Deposit Agreement for CHFA's Advance of State /Local Loan Fund dated November 9, 1988, among Transferor, Lender, the City of Pleasanton and Bank of Pleasanton (the "Depository Agreement "). 20b:CHFAasmp.RVC 1 (10/26/89)