Fill - Free fillable U. S. Department of Housing and Urban Development (Web Master Pulic Affair) PDF form

Unsubsidized Bid Kit

U. S. Department of Housing and Urban Development

Multifamily Property Disposition

307 W. 7th Street, Suite 1000

Fort Worth, TX 76102

FORECLOSURE SALE

The following property is offered for sale at foreclosure in the

manner specified below:

Name:

Address:

No. of Units/Type:

Subsidized/Unsubsidized:

Use Restrictions:

Special Conditions/Announcements:

Written bids will be accepted no later than two (2) business days prior to the date of the Foreclosure

Sale. Mail bids to

20 , at

(local time).

Oral Bids will be accepted on the day of the foreclosure. The Foreclosure Sale will commence promptly

at (local time) on

20 , at

Purchaser to determine future use

N/A

Linkon PLLC, 611 97th PL SE, Bellevue, WA 98004

March 29,

11:00 am

March 31,

the Ventura County Government Center, at the main

janet.k.osterloh@HUD.gov (preferred contact)

Warwick House

1077 Warwick Avenue, Thousand Oaks, CA 91360-3605

6 Unit Former Group Home

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entrance to the Government Center Hall of Justice, 800 S. Victoria Avenue, Ventura, CA 93009 (to the right

of the main entrance, near the exit doors and pay telephones of the Government Center Hall of Justice)

Realty Specialist Contact Information:

Ms. Janet Osterloh

Multifamily Property Disposition, 6AHMLAT

307 W. 7th Street, Suite 1000

Fort Worth, Texas 76102

817-978-5656

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INVITATION TO BID

Consistent with and subject to the terms and conditions herein, there is an opportunity to make an

offer to purchase the Project, more particularly described below. This document, titled Invitation

to Bid, sometimes referred to herein as the “Invitation,” and commonly known as the “Bid Kit,”

sets forth the terms and conditions for the submission of a bid to acquire the Project at the

foreclosure sale of the Project. This Invitation also includes information concerning Previous

Participation Certification requirements, terms, conditions, and a list of the forms necessary to

submit a complete, responsive bid.

DEFINITIONS

1. Act: The Multifamily Mortgage Foreclosure Act, 12 U.S.C. §3701-17, as amended.

2. Acknowledgment: The contract executed at the Foreclosure Sale by the High Bidder,

obligation the High Bidder to the terms and conditions of the Foreclosure Sale. The form

is attached to this Invitation as Attachment B.

3. Affiliate: An individual or entity as defined in 2 C.F.R. §180.905 - Affiliate. An individual

or entity is an affiliate of each other if, directly or indirectly, when either one controls or

has the power to control the other or a third person controls or has the power to control

both. The ways HUD may determine control include, but are not limited to, (a) interlocking

management or ownership; (b) identity of interests among family members; (c) shared

facilities and equipment; (d) common use of employees; or (e) a business entity which has

been organized following the exclusion of a person which has the same or similar

management, ownership, or principal employees as the excluded person. Affiliates of the

defaulting borrower are prohibited from being the High Bidder.

4. Approved High Bidder: The High Bidder who, after the Foreclosure Sale, submits the Post-

Bid Documents, demonstrates its eligibility to purchase the Property, and is approved by

HUD to proceed to Closing.

5. Balance: The amount of money the High Bidder must pay at Closing. Balance is calculated

by taking the High Bid amount less the Earnest Money Deposit plus all initial deposits to

escrows and/or reserve accounts HUD may require as a condition of sale, less the proration

of any Extension Fees and any outstanding encumbrance that survived the Foreclosure.

Funds shall be paid only in the form of certified funds or cashier’s check made payable to:

THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.

6. Bidder: An individual or entity that meets the eligibility requirement of this Invitation and

registers with the Foreclosure Commissioner.

7. Bid: A legal offer from a Bidder of a certain amount to purchase the Property, submitted to

the Foreclosure Commissioner either; (1) in writing two business days prior to the sale, or

(2) orally during the Foreclosure Sale. No offers submitted via email, facsimile, orally to

HUD staff prior to, during, or after the Foreclosure Sale will be considered valid bids.

8. Closing: The date where the obligations of HUD and High Bidder in the Acknowledgment

are completed, including the transfer of title to the Property and the personal property to

the High Bidder, which shall take place at a time specified by HUD.

9. Controlling Participants: Any individual and entity HUD determines to exercise financial or

operational control over the owner, operator, borrower, management agent, landlord,

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construction manager, and general contractor. See 24 CFR §200.212 and §200.216.

10. Earnest Money Deposit: The amount identified in Section III, Subsection 4, that a Bidder

must provide during the Foreclosure Sale to be eligible to submit a Bid.

11. Electronic Registration: Electronic Registration refers to the Business Partner

Registration system HUD uses to register all new partners we do business with. Through

this system, a partner can register to do business with HUD, submit their Form HUD

2530, and obtain a WASS User ID to enable the processing and receipt of subsidies,

including Section 8 vouchers for relocations. Please refer to Section II (4), Section IV

(1)(a) & (b), and Section V (5).

12. Extension Fees: A fee HUD assesses when the High Bidder requests an Extension Period

for Closing. If authorized, the Approved High Bidder must pay for the entire Extension

Period, the amount of which HUD determines, consistent with current policies and

procedures.

13. Extension Period: An additional thirty (30) calendar day period that HUD may give for the

Closing to occur.

14. Foreclosure Commissioner: An individual or entity HUD designates to conduct the

Foreclosure Sale, pursuant to 12 U.S.C. §3704 and 24 C.F.R. §27.10. A Foreclosure

Commissioner is designated for each sale due to varying circumstances.

15. Foreclosure Deed: A no warranty deed that gives the High Bidder title to the Property.

Form of the deed must comply with the Act.

16. Foreclosure Sale: Sale of the Property pursuant to 12 U.S.C. §3710.

17. High Bid: The highest responsive bid amount received by the Foreclosure Commissioner

at the Foreclosure Sale.

18. High Bidder: The bidder at Foreclosure Sale that submits the highest responsive bid amount

to the Foreclosure Commissioner.

19. Invitation: This Invitation to Bid including all the accompanying exhibits, which sets forth

he terms and conditions of the sale of the Property at the Foreclosure Sale and includes

information about the documents and actions necessary to submit a complete and

responsive bid and for HUD to approve a bidder as qualified.

20. Owner: The individual or entity that owns the Property after Closing. The terms Owner,

High Bidder, and Approved High Bidder often refer to the same individual or entity, but

are used separately to designate the point of the Foreclosure Sale.

21. Previous Participation Certification: This Certification is often referred to its form number,

Form HUD-2530 or e-2530, as required pursuant to HUD Notice H 2016-15 Processing

Guide for Previous Participation Reviews of Prospective Multifamily Housing and

Healthcare Programs’ Participants. Any Controlling Participant who is engaged to do

business with HUD is required to submit this form either electronically or a paper copy,

and receive an approval prior to conducting business with HUD. The Previous Participation

Certification form is part of an application used to disclose current and previous property

ownership and management experience to HUD.

22. Post-Bid Documents: All documents, statements, and forms listed in the Invitation that must

be submitted by the High Bidder and its principals and management company, if any, in

order to be considered for HUD-approval.

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23. Post-Closing Repairs: All HUD-required repair and/or rehabilitation work that the

Approved High Bidder/Owner must perform after Closing in a workmanlike manner, and

compliant with state and local codes, laws, ordinances, regulations, and HUD’s Physical

Condition Standards found in 24 C.F.R. § 5.703. If Post-Closing Repairs are required, this

information will be disclosed in the attachments to this Invitation, with a list of HUD-

required repairs on Form HUD-9552. HUD has estimated the cost of these repairs. Actual

costs ultimately incurred by the Approved High Bidder/Owner may be more or less than

the estimates.

24. Principal: (a) an officer, director, owner, partner, principal investigator, or other person

within an entity with management or supervisory responsibilities related to a covered

transaction; or (b) a consultant or other person, whether or not employed by the participant

or paid with Federal funds, who (1) is in a position to handle Federal funds; (2) is in a

position to influence or control the use of those funds; or, (3) occupies a technical or

professional position capable of substantially influencing the development or outcome of

an activity required to perform the covered transaction; or (c) a person who has a critical

influence on, or substantive control over, a covered transaction, whether or not employed

by the participant. For a complete definition, see 2 C.F.R. §180.995 – Principal, as

supplemented by 2 C.F.R. §2424.995.

25. Property (aka Project): The multifamily housing property for sale in this Invitation and all

real and personal property appurtenant thereto.

26. Property Summary: Attachment A to the Invitation that contains summarized

information about the Property and contact information for the Realty Specialist.

The information contained therein is intended to help Bidders perform due diligence

and is the extent of information that HUD will give about the Property

27. Realty Specialist: HUD staff member, identified on the cover page and the Property

Summary, who can be contacted concerning the Property or the Foreclosure Sale.

28. Second High Bidder: The responsive Bidder with the second highest Bid at the

Foreclosure Sale. If sale to the High Bidder is not completed, HUD may contact the

Second High Bidder to accept its Bid.

29. Use Agreement: The Foreclosure Sale Use Agreement, if applicable, will be attached to

this Invitation. The Approved High Bidder will execute at Closing, and which will run

with the land to bind the Owner and any permitted successors and assigns, to purchase

and/or manage the Property. This may be an addition to any Deed restrictions.

SECTION I: INTRODUCTIONS AND GENERAL INFORMATION

1. All Cash, As-Is Sale: The Foreclosure Sale is an “All Cash, As-Is” sale. All Bidders are

expected to perform their own due diligence to reach their own conclusions as to physical

condition, number and occupancy of revenue producing units, estimates of operating costs,

repair costs (where applicable), and any other factors bearing on the valuation of the

Property. While HUD has exercised care to provide accurate information, all information

provided herein is solely for interested Bidders to determine whether or not the Property is

of such type and general character to purchase. HUD makes no warranty as to the accuracy

of this information. A Bidder’s failure to be fully informed as to the conditions of the

Property, including its value, or any conditions of the Foreclosure Sale do not constitute

ground for any claim or demand against HUD or the adjustment or withdrawal of any Bid,

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including the High Bid. HUD shall consider all Bids to have been made with full knowledge

of the terms, conditions, and requirements contained in this Invitation.

2. Contingencies: HUD will not consider Bids that are contingent upon a Bidder obtaining

financing to purchase the Property or any other contingency. By signing the

Acknowledgement, the High Bidder represents that its High Bid is assured.

3. Modification to the Invitation: Any oral modification by any HUD representative that

changes or supplements this Invitation, or any conditions hereof, is unauthorized,

unenforceable, and shall confer no right upon a Bidder, including the Approved High

Bidder. All modifications to the Invitation will be in writing.

4. Bid Acceptance or Rejection: At any time prior to Closing and upon its sole discretion, HUD

reserves the right to reject any and all Bids, to waive any informality in any received Bid,

and to reject the Bid of any Bidder HUD determines is ineligible, lacks the experience,

ability, or financial responsibility necessary to own and manage the Property in a manner

acceptable to HUD.

5. Cancellation of Sale: HUD reserves the unconditional right to cancel this Invitation and

reject any and all Bids at any time prior to Closing without recourse to HUD. HUD is not

liable for any expenses incurred by a Bidder or its related parties.

SECTION II: PRIOR TO THE FORECLOSURE SALE

1. General: In accordance with the intent of the National Housing Act, participants of HUD's

housing programs must be responsible individuals and organizations who honor their legal,

financial, and contractual obligations. HUD will review and approve the Previous

Participation Certification of High Bidder’s Controlling Participants before Closing.

2. Due Diligence: Interested parties, their agents, and advisors should carefully review the

information in this Invitation and any additional information HUD makes available prior to the

Foreclosure Sale. As a general policy, HUD will not release the most current financial

information for the Property other than what has been disclosed in this Invitation and the

Property Summary. Bidders should undertake their own investigation to evaluate the Property

and independently assess the benefits and risks associated with the Property. Bidders should

be confident in their Bid amount and be prepared to follow through Closing. HUD will not

negotiate to reduce any Bid amount after accepted at the Foreclosure Sale.

3. Bidders Pre-Foreclosure Sale Conference Call: HUD may decide to hold a conference call

for all interested parties prior to the Foreclosure Sale. If a call is scheduled, information will

be found on the Property Disposition website. On the call, HUD will discuss the Invitation,

review the rules of the Foreclosure Sale, provide updates on the Property, and answer any

questions interest parties may have. Following the conference call, all questions and

answers will be posted to the same website to ensure that all interested parties receive the

same information.

4. Site Visit: To give interested parties additional information and view portions of the Property,

HUD may choose to conduct an Open House or a Virtual Tour. If a tour is available,

information will be found on the Property Disposition website. HUD is not always in a

position to provide a tour prior to a Foreclosure Sale. If an in-person tour is scheduled, a

HUD representative will be present to walk through the Property. HUD will establish the

scope of the site visit. Not all areas of the Property may be available for viewing. HUD will

not accept Bids, nor provide information outside of this bid kit, during a Site Visit.

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5. Electronic Registration: Registration in HUD’s Business Partner Registration prior to the

Foreclosure Sale is not mandatory to submit a Bid. However, a Bidder may complete this

step prior to the Foreclosure Sale to reduce the amount of time between the Foreclosure

Sale and Closing. HUD can take up to two (2) weeks to process registration requests. While

the High Bidder is the only Bidder required to complete the Previous Participation

Certification (e-2530), every Bidder may register in the event they become the High Bidder.

a. If a Bidder has not previously conducted business with HUD, the Bidder must

first register with HUD’s Secure Systems before submitting a Previous

Participation Certification (e-2530) application. The Bidder should follow these

steps:

i. A Bidder accesses HUD’s Business Partner Registration to register a new

entity with HUD. Wait twenty-four (24) hours to access the Secure Systems

Coordinator or User Registration link to complete the registration for the

individual that will have access to Secure Systems. The applicant will

receive a Coordinator/User ID within two (2) weeks. With these credentials, a

Bidder can complete the required Previous Participation Certification (e-2530)

in the next step.

ii. A Bidder then completes a Previous Participation Certification (e-2530)

application in HUD’s single sign-on page then select

Active Partners Performance System (APPS).

b. Bidders that have previously conducted business with HUD can complete

the Previous Participation Certification (e-2530) application prior to the

Foreclosure Sale by accessing Active Partners Performance System (APPS).

6. Questions: Please direct questions related to this Invitation and the Foreclosure Sale

to the Realty Specialist identified in the Property Summary, after you have read

this packet in its entirety. The Realty Specialist cannot provide information other than

information in this Bid Kit or information posted on the Property Disposition Website.

SECTION III: DURING THE FORECLOSURE SALE – REGISTERING AS A BIDDER

AND SUBMITTING BIDS

1. General: The Foreclosure Sale is an oral, open bid sale that takes place at the date, time,

and place as shown on the cover of this Invitation. HUD designated a Foreclosure

Commissioner to conduct the Foreclosure Sale. The Foreclosure Commissioner is

empowered with the authority to conduct the Foreclosure Sale in an appropriate manner,

using the rules and guidelines herein as the framework for the Foreclosure Sale.

2. Bidder Eligibility: Pursuant to 24 CFR §27.20, the defaulting mortgagor or any Principal,

successor, Affiliate, or assignee thereof on the multifamily mortgage being foreclosed is not

eligible to Bid or otherwise acquire the Property. Additionally, the FHA-lender or any

Principal, successor, affiliate, or assignee thereof on the multifamily mortgage being

foreclosed is not eligible to Bid or otherwise acquire the Property.

3. Bidder Enrollment: At the Foreclosure Sale and prior to the commencement of bidding, a

Bidder must enroll with the Foreclosure Commissioner. The Foreclosure Commissioner will

ask for the name of the Bidder, the name of the individual representing the Bidder, and the

Bidder’s address and contact information. The Foreclosure Commissioner will also collect

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the Bidder’s Earnest Money Deposit and assign each enrolling Bidder a unique number. The

unique number will be used to be used to identify each Bidder during the Foreclosure Sale.

The Foreclosure Commissioner will commence the Foreclosure Sale when all Bidders in

attendance are enrolled. Enrollment as a Bidder does not mean that Bidder is qualified to

purchase the Property.

4. Earnest Money Deposit: The Foreclosure Commissioner must receive the Earnest Money

Deposit before the Foreclosure Sale commences. The Earnest Money Deposit shall be paid

only in the form of certified funds or cashier’s check made payable to: THE U.S.

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. If a Bidder is a

financial institution, the Earnest Money Deposit must be drawn from a different financial

institution. Deposits will generally be set according to the following schedule:

5. Bid Requirements: A responsive Bid must meet all the terms of the Foreclosure Sale. Each

Bid shall be firm, unconditional, fixed in an amount certain, and not in the alternative.

Special conditions, alterations, or deletions will render a Bid non-responsive. A Bidder must

submit a Bid in one of two ways:

a. Written Bids: HUD will only accept a written Bid if received in a sealed envelope

and accompanied with the Earnest Money Deposit. The Foreclosure Commissioner

must receive a written Bid at least two (2) business days prior to the Foreclosure

Sale; the date is stated on the cover page of this Invitation. There is no guaranty

written Bids received by the Foreclosure Commissioner less than two (2) business

days before the Foreclosure Sale will be accepted, even if the bid has the

appropriate postmark. No delay will warrant an exception. If a Bidder desires to

modify or alter a written bid after the Foreclosure Commissioner accepts, the

Bidder must do so in writing at least twelve (12) hours prior to the time the

Foreclosure Sale commences.

b. Oral Bids: At the Foreclosure Sale and using the assigned number provided, a

Bidder orally states a Bid. Oral Bids can be modified orally up until the

Foreclosure declares the High Bid.

c. Electronic Bids: HUD will reject and will cause the Foreclosure Commissioner to

reject Bids and Bid modifications received through e-mail, facsimile, or other

electronic means. Electronic Bids are not valid Bids. All Bids must be submitted in

accordance with this Invitation.

6. Minimum Bid: If HUD has a minimum Bid amount, HUD will disclose it in the Property

Summary. If no minimum Bid is listed, HUD does not have a minimum Bid to purchase the

Property.

7. High Bidder at the Foreclosure Sale: After reviewing all Bids, the Foreclosure Commissioner

concludes the Foreclosure Sale and orally notifies the High Bidder and Second High Bidder of

their respective bidding positions. The Property will be sold to the High Bidder. The

Project Size

Earnest Money Deposit

200 units or

$100,000

100 to 199 units

$75,000

99 units

$50,000

49 units

$25,000

24 units

$10,000

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Foreclosure Commissioner will retain the Earnest Money Deposit for the High Bidder and

immediately cause the High Bidder to execute the Acknowledgment. All collected Earnest

Money Deposits from the other Bidders will be returned before the Bidder leaves the

Foreclosure Sale. The Foreclosure Commissioner will return the Earnest Money Deposits

received for written Bids within seven (7) business days.

8. Continuance of Offers: Even though the Earnest Money Deposit is returned to unsuccessful

Bidders, HUD considers all received Bids at the Foreclosure Sale as continuing offers

until Closing. HUD will keep the contact information of the Second High Bidder in the

event that Closing with the High Bidder does not occur. HUD may contact the Second

High Bidder to accept the previously submitted Bid.

SECTION IV: AFTER FORECLOSURE SALE AND LEADING UP TO CLOSING

1. Post-Bid Documents: The High Bidder must submit the following items (“Post-Bid

Documents”) to the Realty Specialist within five (5) business days of the Foreclosure Sale

so HUD can timely complete its review and approval. The Post-Bid Documents must show

the High Bidder’s capacity to own and operate the Property. Based on the required

information and documents set forth below, as well as any additional information

independently obtained and verified by HUD, in its sole discretion, HUD will determine

whether the High Bidder is eligible, has the requisite experience, qualification, and

financial capacity to purchase the Property.

FAILURE TO SUBMIT THE REQUIRED DOCUMENTS WITHIN THE

INDICATED TIME FRAME MAY BE GROUNDS FOR HUD TO REJECT THE

HIGH BID AND RETAIN THE HIGH BIDDER’S EARNEST MONEY DEPOSIT.

a. Previous Participation Certification (HUD 2530): Submit a Previous Participation

Certification for the High Bidder and, if applicable, the intended Management

Agent.

i. Electronic Submission: If the High Bidder already has access to Secure

Systems, it can submit an electronic Previous Participation Form (e-2530)

through APPS and provide proof of the electronic submission to the Realty

Specialist. The High Bidder can print the signature page showing all

participants listed, the required certifications, and electronic signatures. If

the High Bidder has not previously registered, since there will be

insufficient time to file electronically, the High Bidder must submit a paper

Previous Participation Certification (HUD 2530).

ii. Paper Submission: The High Bidder will provide a completed paper

Previous Participation Certification (HUD 2530) with original signatures

for the High Bidder and its controlling participants. The intended ownership

entity must have established a tax identification number (TIN) and each

individual must list their social security number (SSN). Paper submissions

must include:

1. Organizational chart: a visual chart for the

ownership entity that shows each ownership tier, the roles of each

controlling participant within the organization who retain more

than 25% ownership interest.

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2. Organizational documents including the following as applicable:

Articles of Incorporation, Certificate of Incorporation, Operating

Agreement, Partnership Agreement, Charter, By-Laws, Agent

Certification, proof of TIN.

b. Certification of Substantial Compliance: The High Bidder must submit a complete

and original Certification of Substantial Compliance, located in the attachments to

this Invitation. If HUD determines that properties disclosed by the High Bidder are

not in substantial compliance with federal regulations and state and local codes,

HUD may reject the High Bidder as not qualified to purchase the Property. The High

Bidder may forfeit the Earnest Money Deposit as a result of such determination by

HUD.

c. Written Statement of Experience: The High Bidder must submit a written Statement

of Experience that demonstrates at least five (5) years of experience successfully

owning and managing properties similar to the Property. Please do not exceed five (5)

pages per property and provide the following information for all properties owned by

the High Bidder:

i. The location of other owned multifamily properties.

ii. The number of units and construction type (garden, walk-up, hi-rise, etc.)

for each property.

iii. The type of management for each property.

iv. Whether the properties have government assistance (I.e., project-based or

tenant-based assistance, tax-credit, municipal grants, etc.)

v. The physical, economic, and social needs of each property and how the

High Bidder has addressed them.

The High Bidder’s plan to satisfy the conditions of the Foreclosure Sale;

implement a sound financial and physical management program for the

property; respond to the needs of the tenants; work cooperatively with

resident organizations; provide organizational staff and financial resources;

provide services, maintenance, and utilities to the Property.

d. Personal Financial and Credit Statement: The High Bidder must submit

Form HUD-92417 for each proposed Principal of the High Bidder.

2. Acceptance of High Bid: HUD does not fully accept the High Bid until the High Bidder all

submits Post-Bid Documents, HUD reviews the Post-Bid Documents, and HUD, in its sole

discretion, determines the eligibility of the High Bidder. HUD will notify the High Bidder

of its determination in writing. Upon HUD’s determination that the High Bidder is qualified,

the High Bidder will be confirmed as the Approved High Bidder.

3. Rejection of High Bid: After review of the Post-Bid Documents, HUD may determine that

the High Bidder is not qualified to purchase the Property. HUD may reject the bid due to

High Bidder’s ineligibility, lack of qualifications, or failure to comply with the Invitation.

HUD will notify the High Bidder of this determination in writing, as promptly as possible

and generally, within thirty (30) days after the Foreclosure Sale. HUD may then contact the

Second High Bidder.

4. Impact on Earnest Money Deposit:

a. If HUD accepts the High Bid, the Approved High Bidder’s Earnest Money Deposit

will be credited toward the Purchase Price.

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b. If HUD rejects the High Bid because the amount is unacceptable, HUD will refund

Earnest Money Deposit will be refunded.

c. If HUD determines the High Bidder is not qualified to purchase the Property and the

High Bidder has complied with the requirements of this Invitation, HUD will refund

the Earnest Money Deposit.

d. If HUD finds that the High Bidder made misrepresentations or material omissions

in its submission, or failed to comply with the Invitation, HUD will keep the Earnest

Money Deposit.

5. Extensions: The Approved High Bidder may request an additional thirty (30) calendar day

period to allow more time for the Closing to occur. A written request clearly stating the

reason for the Approved High Bidder’s inability to close the sale, by the scheduled Closing

date or by the end of any Extension Period, must be received within ten (10) days prior to

the Closing date or the end of any extension period.

6. Post Bid Site Visit: HUD will not grant any High Bidder request to tour, visit, or otherwise

have access to the Property prior to closing. To this end, HUD encourages participation

in the site visit before the Foreclosure Sale, if available.

7. Closing Date: The time and place for the Closing will be determined by HUD. The Closing

date will occur within the time specified in the Acknowledgment. HUD reserves the right

to extend the Closing date or revise the location.

SECTION V: CLOSING

1. Conveyance: In accordance with the Act, HUD will convey the Property to the Approved High

Bidder through a Foreclosure Deed. The Foreclosure Deed will not contain any warranties of

title. The Foreclosure Deed is not subject to a redemption period by the defaulting owner of

the Property. When the Invitation indicates, the Approved High Bidder and HUD will execute

the Use Agreement and record as part of the Foreclosure Deed.

2. Amounts Due at Closing: The Foreclosure Sale is an all-cash sale. HUD is not offering

financing to purchase the Property. At Closing, the Approved High Bidder will pay the

Balance. HUD will not proceed with the Closing without acceptable receipt of the Balance,

which shall be paid only in the form of certified funds or cashier’s check made payable to:

THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

3. Closing Expenses: HUD will pay all recordation fees for the Foreclosure Deed, and if

applicable, the Use Agreement. Irrespective of local custom, the Approved High Bidder

shall pay all remaining expenses including, but not limited to, all documentary stamp taxes,

and any costs incurred in connection with a review of title or title insurance.

4. Prorations: Approved High Bidder is responsible for paying all taxes, assessments, liens, and

utility bills including, but not limited to, water, sewer, gas, electric, and any other

encumbrances not extinguished by the Foreclosure Sale. These amounts will not be prorated

from the High Bid or attributed to the Balance. If HUD received any rental payments from

tenants living in the Property on the day of Closing, those rental payments will not be prorated

nor credited toward the High Bid or attributed to the Balance.

5. Extension Fees: If Approved High Bidder paid Extension Fees and the Closing occurs prior

to the expiration of an Extension Period, the prorated amount of the Extension Fees for the

unused portion of the Extension Period will be credited toward the Balance at Closing. This

is the only amount HUD will prorate.

Exhibit A

LEGAL DESCRIPTION

LEGAL DESCRIPTIONS ARE PROVIDED AS INFORMATION ONLY. INTERESTED PARTIES MUST ASCERTAIN

LEGAL DESCRIPTIONS THROUGH THEIR OWN DUE DILIGENCE.

This EXHIBIT "A" is attached to and made a part of the Deed of Trust dated

June 1, 2005, by and between WARWICK HOUSING FOUNDATION, a California

nonprofit public benefit corporation ("Trustor"), COMMONWEALTH LAND TITLE

COMPANY, a California corporation ("Trustee") and THE SECRETARY OF

HOUSING AND URBAN DEVELOPMENT ("Beneficiary").

THE LAND REFERRED TO HEREIN IS SITUATED IN THE STATE OF CALIFORNIA,

COUNTY OF VENTURA, AND IS DESCRIBED AS FOLLOWS:

LOT 124 OF TRACT NO. 1525-1, IN THE CITY OF THOUSAND OAKS, COUNTY

OF VENTURA, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 38

PAGES 86 TO 89 INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY

RECORDER OF SAID COUNTY.

Property Photos

Front view

Property Photos

Front door

Side view Front view of chimney

Property Photos

Sidewalk on side of house and air conditionaing unit

Backyard patio area

Property Photos

Entrances and exits

Hallways

Property Photos

Sample Common Spaces

Property Photos

Sample Closet space

Property Photos

Kitchen

Property Photos

Samples of the 3 Bathroom Spaces

Property Photos

Samples of the 3 Bathroom Spaces

PROPERTY SUMMARY

Property Name

Address

City State Zip

County

Resident Type

Rentable Square Footage

Total Residential Units

Subsidized

No. Commercial Spaces

Revenue

Unsubsidized

Commercial Rentable Sqft

Non-Revenue

Total Rentable Sqft

Building Site

No. of buildings

Approx. Site Acreage

Stories per building

Foundation

Type

Roof Type/Age

Elevator(s) per building

Exterior

Year built

Flooring

Rehabilitation Year

Type of Rehabilitation

Mechanical Systems Utilities Parking

Heating

Water

Assigned Self Park

Air Conditioning

Sewer

Covered Off-site

Hot Water

Garbage

Garage Total

Apartment

Features

Owner

Expense

Resident

Expense

Community

Features

Air Conditioning

Laundry Room

Dishwasher

Parking Type

Microwave

Exercise Room

Garbage Disposal

Picnic Area

Range/Oven

Playground Equipment

Refrigerator

Swimming Pool

Blinds/Drapes

Jacuzzi/Comm Whirlpool

Patio/Balcony

Dog Park

Washer/Dryer (in unit)

Business Center

W/D Connection

Community Space

Fireplace

Gated Entry/Security System

Other:

Warwick House

1077 Warwick Avenue

Ventura

Group Home

2386

Residential

1962

2005

.283

Slab

Asphalt

Siding/Stucco

Unknown

gas

central

gas

city

✔

91360

Yes

Historical Occupancy (if available)

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg

Historical Rents

Type

No. of Units

Unit Sqft

Unit $ Rent

(per/mo)

Market Rent/Comps

Historical Expenses

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg

Use Restrictions (if applicable)

Subsidy Contract Information (if applicable)

Contact Information:

HUD Realty Specialist Foreclosure Commissioner (for written bids only)

Name:

Address:

City/State/Zip:

Phone:

Email:

N/A

Janet Osterloh

307 West 7th Street, Suite 1000

Fort Worth, TX 76102

(817) 978-5656

janet.k.osterloh@hud.gov

Steven K. Linkon

611 97th PL SE

Bellevue, WA 98004

949-697-8889

stevelinkon@msn.com

ATTACHMENT B

TERMS AND REQUIREMENTS OF FORECLOSURE SALE

ACKNOWLEDGEMENT BY BIDDER

I. TERMS OF BID

A. The undersigned, __________________________________, (the “High Bidder”)

submitted a bid of ______________________ dollars ($ ___________ )(the “Bid)

at the Foreclosure Sale to purchase _________________ (the “Property”) held at

__________________________on_____________ 20___ at ________(AM/PM).

The legal description for the Property is included as Exhibit A. The Bid shall be

calculated as follows:

1. EARNEST MONEY: $_______ in the form of a money order, certified

funds, or cashier’s check (the “Earnest Money Deposit”) has been collected

at the Foreclosure Sale by the Foreclosure Commissioner, and which shall

not earn interest, and

2. BALANCE OF THE BID: The High Bidder will pay the difference

between the Bid and the Earnest Money Deposit, a sum of

$_________________, (the “Balance”) at Closing (as defined below), in

the form of a money order, certified funds, or cashier’s check as provided

in the Acknowledgement.

II. HIGH BIDDER REPRESENTATIONS AND WARRANTIES: The High Bidder

hereby represents and warrants to HUD, that as of the execution date of this

Acknowledgement and as of the date of the Closing, the following:

A. High Bidder has full knowledge of all the terms, conditions, and requirements of

the Foreclosure Sale contained herein. High Bidder affirms that they are required

to follow the terms of the Invitation, including by reference, which are incorporated

by reference from the Invitation.

B. High Bidder has the power and authority to execute, deliver and perform this

Acknowledgement and all transactions contemplated herein. High Bidder has taken

or will take all actions necessary to perform its obligations under this

Acknowledgment and to consummate the Foreclosure Sale. This

Acknowledgement and all of the other instruments and agreements executed and

delivered by High Bidder in connection with the Foreclosure Sale prior to the

Closing Date have been or will be duly executed and delivered by High Bidder to

HUD and constitute or will constitute legal, valid and binding obligations of High

Bidder. These terms are enforceable against High Bidder, except as such

enforcement may be limited law and by general principles of equity (whether

considered in a proceeding at law or in equity). The execution, delivery and

performance of this Acknowledgement by High Bidder does not violate any

provisions of any existing federal, state, or local law or regulation applicable to

High Bidder, or violate or contravene any judgment, injunction or decree binding

upon High Bidder, or violate, contravene or constitute a default under any provision

of the organizational documents, if any, governing High Bidder, or of any

agreement, contract or other instrument binding upon High Bidder.

C. High Bidder will accept the Property “AS IS” and understands HUD makes no

representations or warranties concerning the physical condition of the Property.

Warwick House

10,000.00

High Bidder acknowledges and agrees that, while HUD provided some information

concerning the Property to all bidders for review prior to the Foreclosure Sale, such

information may have been inaccurate or incomplete.

D. High Bidder understands that the Foreclosure Sale of the Property is not contingent

upon the High Bidder securing favorable financing terms. High Bidder

acknowledges that, prior to Closing, HUD will not allow access to the Property for

appraisal or any other reason.

E. High Bidder’s Bid is based on its own evaluation of the Property and not upon any

representations by HUD. High Bidder’s inability or failure to inspect or otherwise

be fully informed as to any factor bearing upon the valuation of the Property shall

not be a basis for termination of this Foreclosure Sale nor affect High Bidder’s or

HUD’s liability, obligations, or duties.

F. BIDDER RESTRICTIONS AND ELIGIBILITY:

1. No member of or delegate to Congress, resident commissioner of the

Property, or any local elected official (a “Restricted Party”) will share in any

part of this Foreclosure Sale, or to any benefit arising from owning the

Property. This provision does not apply to the extent that the High Bidder is

a corporation, and a Restricted Party is a shareholder of the corporation and

the purchase of the Property is for the corporation’s general benefit.

2. The High Bidder is not suspended, debarred, or temporarily denied from

participating in HUD programs. If the High Bidder becomes suspended,

debarred, or temporarily denied participation prior to Closing, the Foreclosure

Sale will be terminated, and HUD will retain as liquidated damages the

Earnest Money Deposit and any Extension Fees paid.

3. The High Bidder is not the defaulting mortgagor, or any Principal, successor,

Affiliate, or assignee thereof, on the multifamily mortgage that is the subject

of the Foreclosure Sale. The High Bidder will also ensure that the defaulting

mortgage or any Principal, successor, Affiliate, or assignee thereof will not

acquire the Property or any interest in the High Bidder.

4. The High Bidder is not the FHA Lender or an affiliate thereof that benefited

from the FHA insurance claim associated with the mortgage HUD foreclosed

upon as part of the Foreclosure Sale.

G. ANTI-COLLUSION: High Bidder confirms it arrived at the Bid independently and

without any consultation, communication, or agreement with any other bidder at

the Foreclosure Sale relating to the Bid, the intention to submit the Bid, or the

methods and factors used in calculating the Bid. Further, the Bid was not knowingly

disclosed, directly or indirectly, to any other bidder before or during the Foreclosure

Sale, unless otherwise required by law. High Bidder did not induce or attempt to

induce any other Foreclosure Sale Bidder to submit or not to submit a bid for any

purpose of restricting competition,

H. REMEDIES FOR BREACH: In the event of a breach by High Bidder of any

representation or warranty, HUD has at its election, the right to terminate this

Acknowledgement and all further obligations of HUD hereunder and, in the event

of such termination, the provisions of Section VIII of this Acknowledgment shall

be applicable. If any representation or warranty set forth in this Acknowledgement

is not true and accurate as of the Closing Date, High Bidder shall so advise HUD.

III. HUD REPRESENTATIONS AND WARRANTIES: HUD makes no representations

and warranties concerning the physical condition of the Property. HUD does not

represent or warrant the occupancy of revenue producing units or any other factor

bearing upon the value of the Property.

IV. HIGH BIDDER OBLIGATIONS BEFORE CLOSING:

A. Post Bid Document Submission within Five (5) Days of Foreclosure Sale: The

High Bidder must submit the following items to HUD within the listed business

days of the Foreclosure Sale in order for HUD to begin its review process. The

following documents must illustrate the High Bidder’s capacity to own and operate

the Property.

1. Previous Participation Certification (HUD 2530). Submit one (1) HUD

2530 for the High Bidder and one (1) separate HUD 2530 for any

Management Agent.

i. Electronic Filers: If the High Bidder has prior access to HUD’s

Secure Systems, after previously registering through HUD’s

Business Partner Registration as described in the Invitation, it

should submit an electronic Previous Participation Form using the

Active Partners System (APPS) and provide proof of the electronic

submission to HUD.

ii. Paper Filers: If the High Bidder has not previously registered in

APPS, the High Bidder should provide a completed paper HUD

2530 with original signatures. The High Bidder entity must have an

established tax identification number (TIN) and each individual

must list their social security number (SSN). High Bidder should

transmit to HUD using an encrypted file. Additionally, High Bidder

should include (1) an organizational chart for the ownership entity

that shows each ownership tier, the roles of each controlling

participant and each member with more than 25% ownership

interest; and, (2) the ownership entity’s organizational documents,

include Articles of Incorporation, Certificate of Incorporation,

Operating Agreement, Partnership Agreement, Charter, Bylaws,

Agent Certification, and proof of TIN, as applicable.

2. Certification of Substantial Compliance. The High Bidder must submit a

complete and original Certification of Substantial Compliance, located in

attachments to this Invitation. If HUD determines that properties disclosed

by the High Bidder are not in substantial compliance with federal

regulations and/or state and local codes, HUD may reject the High Bidder

as not qualified to purchase the Property. The High Bidder may forfeit the

Earnest Money Deposit as a result of such determination.

3. Written Statement of Experience. The High Bidder must submit a written

State of Experience (“Statement”). The Statement must demonstrate

approximately five (5) years of experience successfully owning and

managing properties similar to the Property and must address future

management of the Property. High Bidder shall not exceed five (5) pages

per property when providing the following information for each property:

i. The location of other owned multifamily properties.

ii. The number of units and construction type (garden, walk-up, high-

rise, etc.) for each property.

iii. Identify type of management for each property.

iv. Identify properties that have government assistance and type of

assistance, i.e., project-based, tenant-based, etc.

v. Identify the initial physical needs of each property and how they

were addressed.

vi. Identify the social needs of each property and how they were

addressed.

vii. Identify the economic needs of each property and how they were

addressed.

viii. How, based on its experience, the High Bidder will satisfy

conditions of the sale, i.e., Post-Closing Repairs, income and rent

restrictions, etc.

ix. How High Bidder will implement a sound financial and physical

management program for the Property.

x. How High Bidder plans to respond to the needs of the tenants and

work cooperatively with resident organizations.

xi. How High Bidder will provide adequate organizational staff and

financial resources to the Property.

xii. How High Bidder will provide serves, maintenance and utilities to

the Property.

4. Personal Financial and Credit Statement. The High Bidder must submit

Form HUD-92417 for each of its controlling Principal(s).

5. Previous Participation Certification for Management Agent, if applicable.

6. Additional Documents Required for HUD Subsidized Properties:

i. Management Agent Resume

ii. Affirmative Fair Housing Marketing Plan (Form HUD-935.2A)

iii. Management Entity Profile (Form HUD-9832)

iv. Project Owner's/Management Agent's Certification Form HUD

9839-A, 9839-B or 9839-C. Must choose applicable version.

B. Changes within five (5) Days to the High Bidder or Management Agent. If the High

Bidder, the Management Agent, or any controlling participant thereof changes, the

individual or entity shall resubmit a corrected Previous Participation Certification

within five (5) days of any such change.

C. The High Bidder shall ensure compliance with submissions as required herein.

Failure to comply with all requirements may result in High Bidder declared

ineligible to purchase the Property. In such case, the High Bidder shall forfeit the

Earnest Money Deposit and Extension Fees paid.

V. HUD’S REVIEW OF POST-BID SUBMISSION

A. Before HUD can schedule the Closing, HUD must complete the review of the

submitted documents and approve the High Bidder.

B. HUD will provide a response to the High Bidder, and Management Agent if

applicable, within fifteen (15) days of receipt.

C. Acceptance of High Bid. HUD does not fully accept the High Bid until the High

Bidder submits all Post-Bid Documents, HUD reviews the Post-Bid Documents,

and HUD, in its sole discretion, determines the eligibility of the High Bidder. HUD

will notify the High Bidder of its determination in writing. Upon HUD’s

determination that the High Bidder is qualified, the High Bidder will be confirmed

as the Approved High Bidder.

D. Rejection of High Bid. After review of the Post-Bid Documents, HUD may

determine that the High Bidder is not qualified to purchase the Property. HUD may

reject the bid due to High Bidder’s ineligibility, lack of qualifications, or failure to

comply with the Invitation. HUD will notify the High Bidder of this determination

in writing, as promptly as possible and generally within thirty (30) days after the

Foreclosure Sale. HUD may then contact the Second High Bidder.

VI. CLOSING

A. Time is of the essence.

B. If HUD confirms the High Bidder is qualified to purchase the Property, HUD will

notify the High Bidder in writing. The transfer of title to the Property (the

“Closing”) shall be within thirty (30) calendar days of approval unless the High

Bidder requests and HUD grants an Extension Period.

C. The Closing date and place will be determined by the Foreclosure Commissioner

and/or HUD and will occur within thirty (30) days of HUD approval of the High

Bidder. HUD and/or the Foreclosure Commissioner will notify the High Bidder of

the Closing.

D. At Closing, the High Bidder will shall assume all responsibilities and obligations

as owner of the Property arising on or after the Closing. After the Closing, HUD

shall have no further responsibilities or obligations with respect to the Property.

E. High Bidder shall pay the Balance at Closing in the form of a money order, certified

funds, or cashier’s check made payable to: THE U.S. DEPARTMENT OF

HOUSING AND URBAN DEVLEOPMENT.

F. CLOSING COSTS, DEPOSITS, REPAIR ESCROW: In addition to the Balance,

the High Bidder will be required to pay all Closing costs, regardless of local custom,

and, where applicable, fund deposits to reserve accounts and obtain any Letter(s)

of Credit for the Repair Escrow. However, HUD will pay fees for recording the

Foreclosure Deed and Use Agreement, if any.

G. EXECUTION OF USE AGREEMENT: Without limiting the foregoing, at Closing,

High Bidder will execute the Use Agreement and required exhibits as contained in

the Invitation. The Use Agreement will control the use of the Property for the

specified period, be recorded as part of the Foreclosure Deed, and will run with the

land.

H. EXTENSION OF CLOSING DATE:

1. High Bidder may request an additional thirty (30) calendar day period (the

“Extension Period”) for the Closing to occur. High Bidder must submit a

written request, which clearly states the reason for the High Bidder’s

inability to close the sale on or before the Closing date, or within any

Extension Period. HUD must receive any extension request no less than ten

(10) days prior to the Closing date. The request must be accompanied by

the payment of the required Extension Fees and sent to the following

address:

a. Multifamily Property Disposition

b. ATTN: Jovanna M. Morales, Director

c. 307 W. 7

Street, Suite 1000

d. Fort Worth, TX 76102

2. All payments for an Extension Period must be in the form or a cashier’s

check or certified check made payable to: The U.S. Department of

Housing and Urban Development

3. HUD will notify the High Bidder in writing of all approved Extension

Periods. HUD will grant an Extension in accordance with the following

conditions:

i. Extension Fees shall be equal to $______ per unit in the Project per

calendar day, or one and one-half percent (1.5%) of the Bid, which

even amount is greater.

ii. Extension Fees will not be credited against the Balance. However,

if the Closing is held prior to the end of the Extension Period, the

prorated amount of the Extension Fees for the unused portion of the

Extension Period shall be credited toward the Balance.

iii. HUD shall not be obligated to grant any additional Extension Period

because it has previously granted one or more Extension Period.

iv. If High Bidder does not submit any HUD-required for within

sufficient time for HUD’s review, and such delay necessitates an

Extension Period, Extension Fees shall be paid for this time.

VII. PRORATIONS:

A. TAXES AND FEES: High Bidder is responsible for paying all taxes, assessments,

liens, and utility bills including, but not limited to, water, sewer, gas, electric, and

any other encumbrances not extinguished by the Foreclosure Sale. Any amounts

paid will not be prorated to the Balance or used to offset the Bid amount in any

way. HUD is responsible for payment of taxes before the closing date.

B. PROPERTY RENTS: Regardless of the Closing Date, rent collected by HUD, if

any, will not be prorated toward the Balance.

C. EXTENSION FEE: In the event High Bidder pays Extension Fees, and the Closing

occurs before the expiration of the Extension Period, a prorated amount of the

unused portion of the Extension Fees shall be credited toward the Balance.

VIII. BREACH

A. The High Bidder agrees that any breach of these terms shall result in the forfeiture

of the Earnest Money Deposit, and the payment of any expenses incurred HUD by

in managing the property, including taxes, and utilities, until transfer of ownership

in a Closing, as liquidated damages, not a penalty.

1. Failure to pay these funds shall result in a debt to the federal government.

2. Failure to pay these funds may result in the High Bidder being prevented

from participation in future HUD foreclosure sales.

B. Breach by the High Bidder includes withdrawing their bid after signing this

document, and any other actions or inactions by the High Bidder that result in

failure to close on the sale.

32.00

C. If actions by HUD result in failure to close on the sale, High Bidder’s sole remedy

shall be the return of any amounts paid by High Bidder pursuant to this Agreement.

Without limiting the generality of the foregoing, High Bidder hereby waives any

claim for damages (other than amounts paid by High Bidder pursuant to this

Agreement) and any right to seek specific performance or other equitable relief.

D. Upon the failure or refusal of the High Bidder to comply with any of the

requirements in this Acknowledgement, HUD may declare the High Bidder

ineligible to purchase the Property, in which case the High Bidder shall forfeit the

Earnest Money Deposit and any Extension Fees paid.

IX. MISCELLANEOUS

A. RISK OF LOSS AND RIGHTS OF RECISSION: In the event of any substantial

damage to the Property prior to Closing by any cause, including but not limited to

fire, flood, hurricane, earthquake, tornado, or significant vandalism, HUD, in its

sole discretion, may renegotiate with the High Bidder for a reduction in the Bid

corresponding to the estimated amount of damages. Such amount shall be added to

the Post-Closing Repair amount, if applicable. If the Bid reduction cannot be

negotiated or if the High Bidder and HUD are unable to agree on the amount by

which the Bid should be reduced, or on the amendment to any Post-Closing Repair

requirements, High Bidder may withdraw the Bid. In such case, HUD will retain

the Earnest Money Deposit and any Extension Fees paid.

B. EXISTING SECURITY DEPOSITS: Any security deposits collected from tenants

and paid to HUD or in HUD’s control prior to Closing shall be assigned to High

Bidder within fifteen (15) business days of Closing. In no event shall HUD deliver

security deposits forfeited by a tenant in accordance with the terms of the tenant’s

lease. Notwithstanding state and local law, HUD will not transfer any other security

deposit collected from tenants. HUD has no other liability under state and local law

with respect to security deposits. High Bidder agrees to assume all responsibility

and liability under state and local law with respect to the collection, application,

and return of tenant’s security deposits.

C. SEVERABILITY: If, for any reason, one or more of the provisions contained in

the Invitation, including this Acknowledgment, the Use Agreement, or any other

attachments or exhibits thereto, shall be held to be invalid, illegal, or unenforceable

in any respect, such invalidity, illegality, or unenforceability shall not affect any

other provision(s) of the Invitation, but the Invitation shall be construed as if such

invalid, illegal, or unenforceable provision(s) had never been included therein.

D. LIMITATION OF LIABILITY: In no event shall HUD’s liability exceed the

Earnest Money Deposit and any Extension Fees paid.

E. ASSIGNMENT: High Bidder may not assign its rights and responsibilities under

this Acknowledgment without the prior written consent of HUD.

F. CONFLICTING TERMS: If there are terms or conditions herein that conflict with

the terms or conditions contained in the Invitation incorporated herein by reference,

the terms or conditions of this Acknowledgment shall control.

G. REQUIRED FORMS: The High Bidder acknowledge the receipt of the Use

Agreement as a term and condition of the Foreclosure Sale and the inclusion of the

riders attached to the Use Agreement in the Invitation.

Witness:______________________________

WARNING: It is a crime to knowingly make false statements to the United States in this document

or any other document related to this Foreclosure Sale. Penalties upon conviction can include a

fine or imprisonment. See 18 U.S.C. 1001 and 1010.

Executed by the High Bidder on the ____ day of ___________________, 20____.

Witness:________________________ By:________________________________

Printed Name:__________________ Printed Name:_______________________

Address:____________________________

City, ST ZIP: ________________________

Phone: (______) ______-_______________

Email:______________________________

By signature below, High Bidder acknowledges and agrees to the terms and condition of this

Foreclosure Sale. In the case where an agent or representative of the High Bidder submitted the

Bid, the signatory attests to be duly authorized to submit the bid on behalf of the High Bidder and

to execute this Acknowledgment.

Attachment G

CERTIFICATE OF SUBSTANTIAL COMPLIANCE

TO: The United States Department of Housing and Urban Development

FROM:

I certify to HUD that any and all project(s) that are owned by _________________ , or its affiliates, and located in

_______________________ (City or Town where project being purchased is located) is/are in substantial compliance with

applicable state and/or local housing statutes, regulations, ordinances and codes and are listed on Schedule A

attached hereto.

WARNING: It is a crime to knowingly make false statements to the United States in this document or any other

document related to this sale. Penalties upon conviction can include a fine or imprisonment. For details see: Title 18

U.S. Code, Section 1001 and Section 1010.

By:

Signature

Grantee Name

Title

Address

Telephone Number

Date

STATE OF:

)

Came before me this _____ day of _______ , 20___. Notary Seal.

Schedule A

All projects owned by _____________________ or affiliates.

List each project name

List name of

principal or affiliate

with ownership of project.

List project address

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