West Orange Township_Fourth Round HEFSP_Final Draft

Occupancy (C of O} and a project completion report have been submitted to Lender, and the Project has met the requirements for Project Completion outlined in 24 CFR 92.2, which will require that the property be acquired and construction be complete and property standards met: all HOME funds have been disbursed by the County and drawn from the US Treasury; and required completion data has been entered in HUD's IDIS system. The Borrower will notify the Lender when the Borrower has satisfied the requirements for completion, and submit the necessary support documentation, including a Certificate of Occupancy. Upon its approval, the County will notify the Borrower of the actual date of completion and the exact date of the expiration of the Affordability Period, which shail be calculated based on the date of completion. If necessary, the Borrower shali execute an amendment to the deed running with the land that extends the affordability restrictions of 24 CFR 92.252 to the exact date of expiration of the Affordability Period. The Affordability Period shall remain in force despite any prepayment of this Loan. The Borrower understands that the HOME assisted units must achieve initial occupancy within 18 months of the project completion daie. if a unit has no initial occupancy within 18 months of the project compieticn date, then the funds invested in that unit must be reimbursed to Lender. lf any HOME-Assisted Units are vacant six (6) months after Project Completion, the Borrower shall provide Lender with a report on current marketing effosts and, if requested by the Lender, a pian for enhanced marketing of the HOME- Assisted Units. The provisions thereof may be enforced by the County of Essex by an action under the mortgage in foreclosure, the Mortgage Note, the Amended and Restated Developer's Written Agreement, or the Amended and Restated Loan Agreement dated June 17, 2014 for acceleration of the loan as provided in paragraph 3 of the Loan Agreement. SUBJECT to easements and restrictions of record, if any, and such state of facts as an accurate survey may disclose. Promises by Grantor. The Grantor promises that the Grantor has done no act to encumber the property. This promise is called a “covenant as to grantor's acts” (N.J.S.A. 46:46). This promise means that the Grantor has not allowed anyone else to obtain any legal rights which affect the property {such as

This promise is called a “covenant as to grantor's acts” (N.J.S.A. 46:46). This promise means that the Grantor has not allowed anyone else to obtain any legal rights which affect the property {such as by making a mortgage or allowing a judgment to be entered against the Grantor} . N _ Signatures. The Grantor signs this Deed as of the date at the top of the first page. s ¢ , Witness/Attest: . THE ARC OF ESSEX COUNTY, INC. Linda Lucas, Chief Executive Officer Consent to Amendment to Deed Restriction. The County of Essex, Division of Housing and Community Development signed below io confirm its consent to the Amendment of the restrictions set forth in the Original Deed as recited in this Deed UNTY OF ESSEX Division of Housing and Community Cevelopment {F sfuectoxidocs/016974/00002/02979312: 2}