West Orange Fourth Round HEFSP_adopted 111025_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 until a Certificate of Occupancy (C of 0) and a project completion report has been submitted to Lender, and the Project has met the requirements for Project Completions outlined in 24 CFR 92.2, which will require that construction be complete; all HOME funds have been disbursed by the County and drawn from the} U.S. Treasury, the project site is fully leased up, and required completion 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 ma 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 commencemen ffordability Period, the incomes of the tenant of each unit assisted with HOME Progr. is GHOME Funds’) shal! meet the requirements of 24 CFR 92.252 and 24 CFR 92. aytnent of the funds will be required if the housing does not meet the affordability p ment. Two units will be HOME-assisted and will be designated as Low HOME Rent F throughout the affordability period. SUBJECT to easements and restrictions of record, if any, and state of facts as an accurate survey may disclose. antor has done no act to encumbe! antor’s acts” (N.J.S.A. 46:4-6). This e to obtain any legal rights which affec g a judgment to be entered against the Promises by Grantor. The Grantor promises tha the property. This

act to encumbe! antor’s acts” (N.J.S.A. 46:4-6). This e to obtain any legal rights which affec g a judgment to be entered against the Promises by Grantor. The Grantor promises tha the property. This promise is called a “covenant promise means that the Grantor has not allow the property (such as by making a mortga Grantor). Signatures. The Grantor sig ed as of the date at the top of the first page. Witnessed by: JEANETTE WHALEY QJ Wok Wa MARK WHALEY ROGER A. SERRUTO STATE OF New Jersey, COUNTY OF Essex SS:: CERTIFY that on_( Litg. ad 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