NEIGHBORHOOD STABILIZATION PROGRAM 2

CONSORTIUM FUNDING AGREEMENT NEIGHBORHOOD STABILIZATION PROGRAM 2 COUNTY OF ALAMEDA AND CITY OF PLEASANTON THIS CONSORTIUM FUNDING AGREEMENT "Agreement is effective as of December 1, 2009, and is between the County of Alameda, a political subdivision of the State of California in its capacity as Lead Member pursuant to the Consortium Agreement, as defined below (the "County and the City of Pleasanton, a municipal corporation (the "City RECITALS A. The American Reinvestment and Recovery Act of 2009 "ARRA includes an allocation of funds for additional activities under Division B, Title III of the Housing and Economic Recovery Act of 2008 "HERA The additional funds are referred to as the Neighborhood Stabilization Program 2 "NSP2 The purpose of NSP2 is to assist in the redevelopment and rehabilitation of abandoned and foreclosed properties. NSP2 is a component of the federal Community Development Block Grant Program under Title I of the Housing and Community Development Act of 1974, as amended "CDBG B. On May 4, 2009, the United States Department of Housing and Urban Development "HUD issued a Notice of Fund Availability and on June 11, 2009, issued a correction to that Notice of Fund Availability (together, the two notices are the "NOFA The NOFA sought applications for grants of NSP2 funds for the purpose of carrying out neighborhood stabilization programs. The NOFA permits a consortium of nonprofit entities (which may include governmental entities, local governments, and private nonprofit organizations) to apply for NSP2 funds. C. The County of Alameda (the "County and the Cities of Dublin, Emeryville, Fremont, Hayward, Livermore, Newark, Pleasanton, San Leandro and Union City are all members "Members of a consortium (the "Consortium pursuant to a Consortium Agreement dated July 14, 2009 (the "Consortium Agreement In addition to being a Member, in accordance with the Consortium Agreement, the County is the Lead Member of the Consortium. The Lead Member is responsible for administering the activities of the Consortium. D. On July 15, 2009, the Lead Member, on behalf of the Consortium, applied to HUD for a grant of $11 million of NSP2 funds (the "Grant Application to conduct an NSP2 program in Alameda County that is in compliance with NSP2 requirements (the "NSP2 Program and covers the Member jurisdictions. E. Implementation of the NSP2 Program is governed by all the applicable laws and regulations governing the use of NSP2 funds, as set forth in ARRA, HERA, the NOFA, Alameda County and City of Pleasanton