Housing Hope HCS-15-42-1213-198(1) 7/25/2016

AMENDED HOME LOAN AGREEMENT This Amended HOME Loan Agreement ("Loan Agreement") is made by and between City of Everett, a municipal corporation of the State of Washington (the "City") and Housing Hope, a Washington non-profit corporation (hereinafter "the Agency"), to undertake the rehabilitation of that certain exising affordable housing project referred to as Kennedy Court Improvement Project (as more fully described in Exhibit A attached hereto and incorporated herein by this reference, the "Project"), and is dated as of , 2016 ("Execution Date"). WHEREAS, the federal government has enacted the National Affordable Housing Act, which created the HOME Investment Partnerships Program ("HOME Program") administered by the United States Department of Housing and Urban Development ("HUD") through regulations at 24 Code of Federal Regulations ("CFR") Part 92 ("HOME Regulations"); and WHEREAS, Snohomish County, a political subdivision of the State of Washington (the "County") is a participating jurisdiction and receives annual block grants of funds from HUD under the HOME Program; and WHEREAS, the affordable housing needs that guide the County's distribution of these funds are identified and assessed in the County's HUD-mandated and 2015-2019 Consolidated Plan for Housing and Community Development (the "County Consolidated Plans"), which Consolidated Plan identifies rental housing opportunities for households with incomes at or below 80% of the area median income ("Low-Income") as an important housing need; and WHEREAS, for those HOME Program purposes, the County and the City on September 9, 2011, executed an interlocal cooperation agreement to form a consortium for federal fiscal years 2012 - 2014, and renewed for 2015 — 2017; such agreement providing for automatic renewal every three years thereafter (as subsequently amended, the "Interlocal Agreement"); and WHEREAS, the Interlocal Agreement identifies the City as the subrecipient to administer the HOME Program within the City of Everett and specifies that the City shall receive twenty-one percent (21%) of the annual County HOME allocation for eligible projects selected by the City; and WHEREAS, the affordable housing needs that guide the City's distribution of these funds are identified and assessed in the City's HUD-mandated 2015-2019 Consolidated Plan for Housing and Community Development (the "City Consolidated Plan"), which City Consolidated Plan identifies rental housing opportunities for households with incomes at or below 80% of the area median income ("Low-Income") as an important housing need; and Amended HOME Loan Agreement Housing Hope's Kennedy Court Improvement Project Page 1 of 53