Draft_October 2025_West Orange_HEFSP_with Appendices

will be fifteen (15) years, and will be enforced through a Developer's Written Agreement, Loan Agreement, Mortgage Agreement, Mortgage Note and Deed Restriction that runs with the land to be executed by the Borrower. The Affordability Period will not commence untit a Certificate of Occupancy (C of QO) and a project completion report has been submitted to Lender. and the Project has met the requirements for Project Completions outlined in 24 CFR 82.2, which wilt require that construction be complete; alt HOME funds have been disbursed by the County and drawn from the U.S. Treasury, the project site is fully leased up, and required compietion data has been entered in HUD's Integrated Disbursement Information System (IDIS). Borrower will notify the County when the Borrower has satisfied the requirements for completion, and submit the necessary support documentation. Upon its approval, the County will notify Borrower of the actual date of completion and the exact date of the expiration of the affordability period, which shall be calculated based on the date of completion. The Borrower shall execute an amendment to the deed or execute a corrective deed 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. Two units will be HOME-assisted and will be designated as Low HOME Rent Fixed Units throughout the affordability period. The provisions thereof may be enforced by the County of Essex by an action under the mortgage in foreclosure, Mortgage Note, Developer's Written Agreement or a period of Fifteen (15) years after the commencement of the Affordability Period, the incomes of the tenant of each unit assisted with HOME Program Funds (‘HOME Funds") shall meet the requirements of 24 CFR 92.252 and 24 CFR 92.203. Repayment of the funds will be required if the housing does not meet the affordability period, requirement. Two units will be HOME-assisted and will be designated as Low HOME Rent Fixed United throughout | the affordability period. 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 a& to grantor's acts”

cts 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 a& to grantor's acts” (N.J.S.A. 46:4-6). Thig promise means that the Grantor has not allowed anyone ‘else to obtain any legal rights which affecq the property (such as by making a morgage ot allowitig a judgment to be entered against the Grantor). Signatures. The Grantor signs this Beed as of the date at the top of the first page “4 “ “ Witnessed by: Lae JEAMNETTE WHALEY ROGER A. SERRUTO MARK WHALEY STATE OF New Jersey, COUNTY OF Essex SS.: | CERTIFY that on dug. i g , 2013 Jeannette Whaley and Mark Whaley, personally came before me and stated to my satisfaction that this person (or if more than one, each person): (a) was the maker of the attached deed; (b}) executed this deed as his or her own act; and