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1 <br />KITTITAS COUNTY NOTE <br />$750,000.00 Teanaway Court [___], 2026 <br /> <br />FOR VALUE RECEIVED, HOPESOURCE, a Washington nonprofit corporation ("Grantor"), <br />promises to pay to KITTITAS COUNTY, a political subdivision of Washington State ("County”) at its <br />offices at 205 W 5th Ave,, Ellensburg, Washington or at such other place as County may from time to time <br />designate in writing, (a) the principal sum of SEVEN HUNDRED FIFTY THOUSAND AND/NO/100 <br />DOLLARS ($750,000.00) ("County Grant"); and (b) all costs and expenses payable hereunder. <br /> <br />RECITALS <br /> <br />A. This Promissory Note ("County Note") is made pursuant to that certain unrecorded <br />Homeless Housing Program Grant Agreement, Contract HH-2021-001-HopeSource-CIP, dated July 15, <br />2021, between Grantor and County as amended by that certain Amendment No. 1 dated November 21, <br />2023, that certain Amendment No. 2 dated November 5, 2024, that certain Amendment No. 3 dated June <br />3, 2025, and that certain Amendment No. 4 dated April 21, 2026 (as amended, the "Contract") and that <br />certain Affordable Housing Covenant (“Covenant”) dated of even date hereof that restricts the use of the <br />Property for a forty (40) year period for the benefit of the County. The Contract, County Note and <br />Covenant are referred to herein as the “County Grant Documents”. <br /> <br />B. Capitalized terms used in this County Note shall have the meaning set forth in the Contract <br />or Covenant, unless expressly otherwise defined herein. <br /> <br />NOW, THEREFORE, for good valuable consideration, receipt of which is hereby <br />acknowledged, Grantor agrees as follows: <br /> <br />1. Agreement. The principal sums hereunder have been and are being conditionally granted <br />by County to Grantor in accordance with and pursuant to the Contract. The proceeds of the County Grant <br />shall be disbursed only to pay for the items and in accordance with the procedures set forth in the <br />Contract. The terms of the Contract are incorporated herein and made a part hereof to the same extent and <br />with the same force and effect as if fully set forth herein. In the event of any inconsistencies between the <br />terms of this County Note and the terms of the Contract or any other document related to the County <br />Grant, the terms of this County Note shall prevail. <br /> <br />A default by Grantor under any of the provisions of the Contract, the Covenant, this Note, or any <br />of the other County Grant Documents shall, after the expiration of any cure period under the respective <br />agreement, be a default hereunder, and a default hereunder after the expiration of any applicable cure <br />periods shall be a default under the County Grant Documents. <br /> <br />2. Interest. Zero percent simple interest (0%) per annum (based on a 360-day year and <br />charged on the basis of the actual number of days elapsed) shall accrue on the County Note amount and <br />all other amounts due under this County Note, except as set forth in Section 7 hereof. <br /> <br />3. Payment; Forgiveness. There are no regularly scheduled payments under this County <br />Note. Payment shall be due as provided in Section 7 hereof only upon a Default. December 31, 2068 <br />shall be the "Maturity Date" of this County Note. If, as of the Maturity Date, there are no uncured defaults <br />under the County Grant documents, including all attachments thereto, and there are no amounts which <br />have become payable pursuant to Section 7 hereof, all outstanding amounts on this County Note shall be <br />forgiven. <br /> <br />4. Form of Payments. All amounts due hereunder are payable in immediately available funds