80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J

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acceptance of a deed ~t~ lieu of fa~'eclasrtre, ar assig~~n]ent of the First Lien to the Secretary of the Depar'tn]er]t of ~o~~sir] and ~rbar] De~elapmer]t, this Agx'eemet~t at~d tl~e Agency Deed of Trust shall be automatically ter~]~inated and sl]all 1]a~e na fur'tl]er effect as to the Fraper'ty ar ar]y transferee tl]er'ea~er, Ho~~ever•, in na e~e~~t slaall this Ag~'ee~]~ent, the Agency Deed afTr'ust, ar]d tl~e Affardable ~oltsing Resale Restr'rctran, be subat'dir]ate to any First Lren or] the Property securRir] a laat] v~ith p~'avisio~]s ti~hich alla~~ negative ar]~ortizatiar], ar to re~r]ancing of the First Lief for a laat~ amaur~t in excess of the s~tr]] of tl]e then c~~rr'etrt load balatrce seeur;eel b~ tl~e First Lie~r at~d lawn closing costs. 1~,1 ~~•~~i~ of ~ecordiii~~ Tl]e Homebuyea~ agt'ees it shall instruct the ~scro~v Ae~]t far tl~e ac~ttisitia~] of tl]e Pr'aperty by tl~e ~oi]]ebuyer drat. tl]e ar'der of recar'dir]g irr tl]e escra~~ ~`or the put'chase of tl]e Property by Ha~neh~~ye~~ shall occ~rr as fallo~~s: ~l~ the grant Deed the Flr'st Lier]; atl]er affordable l~o~~sing ioan~s} as described in ectia~] 3,1~ as per~rr~tted ley the Executr~~e I~rrectot'~ the Affordable Hatzsit] Resale Restttcttor]; Notice of Affordability Rest~~~ct~at~s and the Agency Deed of Trust. Tl~e Agency shall cause a Req~~est far' Notice of Default to be ~'ecarded an tl]e Property subsequent to tl~e r~ecardatian of tl]e First L]er] deed of trust ar` r~]ar'tgage r'e~uestrr]g a statlltory r]Ottce of defa~~lt as set fo~•tl] tl]e ~alifor+n~a r~rl fade Sectror~ ~9~4b, grid sl]all ca~~se a request for' Notice of l~elir]~uer]cy to be recorded a~a tl]e ~'~'opez~ty subsequet]t to tl~e recordation of tl~e First Lier~ deed of trust ar' rnor•tgage~ I5i Ilidemliifica~io~~, Tl]e Hon~eb~~yer sl]ll pay for'} defet]d, it~detnt]ify, and 1]old l~arn]less the Agency and fhe lty and their respective oflicers, agents, errtployees, represer]tati~es ar]d ~alunteer•s fiat]] and against any loss, liability, clairrr ar` judgment relatir]g in at]y tnat]r]er to the P~'opet+ty o~4 t~]is Agt~eemet~t~ T~]e Hotriebrtyer shall retrain frilly obligated for the payrner]t of property taxes, liens, at~d assestrrer]ts relyted #o tl]e Pr'apet'ty. There sl]all lie too rieduction lr] taxes far tl]e ~arnebuyer', r]or ar]y transfer' of responsibili#y to tl]e Aget]cy to make s~tclr payn]ents, by ~i~•tue aftl~e Homebuyer Assistance Laat~. 1~, ~iYSIIx•l~ce, Tl]e ~amebuyet• shall t]~aintain, during the tertrr of the Hamebuyer Assistance Loan, at] all-risk property insurance policy it]sut'it] the Propet'ty in an at]~out]t ecl~tal to the full replacement value afthe structrtres or] the Property, Tl]e policy sl]all natrre the Agency ar]d tl]e pity as bass payees and shall contain a staten]ent of obligation an belralf of the carrier to trotify tl]e Agency of any n~atex~ia~ cl~at]ge, cat]cellatian or tert]~it]ation of ca~er+age at least thirty ~~D} days in advance of tl]e date of such n]aterial charge, cancellation or' ter't]~ir]ation, Tl]e Hor]]ebuyer shall transr~]it a copy of tl]e cer'tr~cte of rr~s~rrar]ce at]d lass payee endorsernet]t to tl~e Aget]cy ~~itl]it] tlaii~ty ~~a~ days of the effective date of this Agt'eet]]et~t, and upon request by the Agency, the Harr]eb~?yer' shall transrr]it to tl~e Agency further copies of the certificate of insurance and a lass payee endorsetnerrt, Tl]e copy of the certificate of it~s~trance and loss payee endat•set]~ent shall be transt]]itted to the Agency at tl~e address set forth rn ~ectrar] . Tile form, contet]t, issuer of at]y certificate of its€tt'ance must be tieasot]ably acceptable to #1]e Agency. ~7~ Defa~ilts, Failure ar delay by either party to perform any term or pro~rsror] oftl]t Areen~et]t ~~hich is rat crt~'ed ~vithin thirty ~3a~ days after receipt of notice fr'am the other' party constitutes a default ur]der this Ar'eetnen#; pr'a~rided, 1]o~~e~er', that if sucl] defa~zlt is of the t~atur'e r'equirrng r]]ore than thirty ~3a} days to cur's, the defaulting patty sl]all avoid default ~]et'e~tt]der by cornn]encing to cure ~~ttl~tt~ such tl]lrty ~30~ day per'iad, ar]d thereaer diligently ATTA~HNIENT N0,11-1 Fot'n~ of Hamehuyer Lawn Agreement ~ O~J 1 ~ ~~G~3v 1 12~0~72-~~0 l