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CALIFORNIA HOME FINANCE AUTHORITY <br />AMENDED AND RESTATED JOINT EIMRCISE OF POWERS AGREEMENT <br />(Original date,july 1, 1993 and as last amended and restated December 10, 201.1) <br />THIS AMENDED AND RESTATED JOINT EXERCISE OF POWERS AGREEMENT <br />( "Agreement ") is entered into by and among the counties listed on Attachment 1 hereof std <br />incorporated herein by referehice. All such counties are referred to herein as "Members" with the <br />respective powers, privileges and restrictions procdded herein. <br />RECITAIS <br />A. WHERIAS, the California Rural Home Mortgage Fuaauce Authority ( "CRHMFA ") was <br />created by a Joint Exercise of Powers Agreement dated July 1, 1993 pursuant to the Joint Excrcise <br />of Powers Act (conmiencing with Article t of Chapter 5 of Division 7 of Title 1 of the <br />Government Code of the State of Cadilornia (the "Act "). By Resolutiou 2003 -02, adopted ou <br />January 15, 2003, the naiuc of the authority was changed to CRHMFA Homebuyers Fund. The <br />most receut amendment to the Joint Exercise of Powers Agreement was on January 28, 200h. <br />B. WHEREAS, die Members of CRHMFA Homebuyers Fund desire to update, reaffirm, <br />clarify and revise ccrt in provisions of the joint powers agreement, including die renauuing of die <br />joint powers authority, as set forth herein. <br />C. WHEREAS, die Members are each empowered by law to finance the construction, <br />acquisition, improvemcut and relhabilitatiou of real property. <br />D. WHEREAS, by this Agrreement, die Members desire to create and establish ajoint powers <br />authority to exercise their respective powers for die purpose of financing the constructiou, <br />acquisition, improvement and rehabilitation of read property widint the jurisdiction of die Authority <br />as authorved by the Act. <br />NOW,'FHERF.FORE, in consideration of the mutual covenants contained herein, the Members <br />individually and collectively agree as follows: <br />1. Dcfuhitions <br />Unless die context otu noise requires, die follm6ug terms shall for purposes of this <br />Agreement liavc die mcaniugs specified below: <br />"Act" means the,Joint Exercise of Powers Act, commencing with Article l of Chapter 5 of <br />Division 7 of Title 1 of de Government Code of de State of California, including die Marks -Roos <br />Local Bond Pooling Act of 1985, as anuuded. <br />"Agreement" means this joint Exercise of Powers .Agreement, as (lie same now exists or as it <br />may from time to tune be amended as provided herein. <br />Exhibit 3 <br />55E -13 <br />