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Kittitas County Amendment to: ILA, AGS, InterDept. MOU ( 8/28/25) <br />Page 2 of 3 <br /> <br /> <br />a. No less than five (5) units shall be reserved for households who are homeless at the <br />time of occupancy as defined by the Department of Housing and Urban Development <br />(“HUD”) at 24 C.F.R. 578.3 for a period of no less than forty (40) years. <br /> <br />b. One (1) of the five (5) units set aside for households who are homeless at the time of <br />occupancy shall be restricted to a household with an annual household income of no <br />more than fifty percent (50%) of the Area Median Income for Kittitas County as <br />determined by HUD for no less than forty (40) years. <br /> <br />4. HopeSource shall cause an aƯordable housing covenant evidencing the Use Restriction to <br />be recorded against the Property for the benefit of the County and in a form approved by the <br />County (“Covenant”). <br /> <br />5. HopeSource shall market and rent the five (5) homeless-designated units through <br />Coordinated Entry referrals, supplemented as needed by direct referrals from local agencies <br />and shelters. <br /> <br />6. The County funding is conditioned on HopeSource complying with the Covenant and this <br />Grant Agreement. If HopeSource fails to comply, HopeSource shall be required to repay the <br />County the total amount of the award pursuant to the terms of a promissory note. <br /> <br />7. HopeSource shall reloan the proceeds of the County funds to Teanaway Court Associates <br />LLLP, the tax credit partnership who owns the fee simple interest in the Property and of which <br />HopeSource is the managing general partner (“HopeSource Loan”). The HopeSource Loan <br />will be evidenced by a promissory note and deed of trust, which HopeSource will assign to <br />the County as security for the County funds. <br /> <br />8. Except as specifically set forth herein, the Amended Grant Agreement is and remains in full <br />force and eƯect and binding on the parties. <br /> <br />9. HopeSource acknowledges that it has the authority to enter into and perform its obligations <br />under this Fourth Amendment. <br /> <br />10. This Fourth Amendment may be executed in one or more facsimile or pdf counterparts, each <br />of which shall be deemed the original, but which together shall constitute one and the same <br />instrument. <br /> <br />11. All other terms of the Initial Grant Agreement remain unchanged and in full force and eƯect. <br /> <br />IN WITNESS WHEREOF, the parties have executed this Fourth Amendment as of the latest date <br />written below. <br />