ECHO HOUSING HBE CONTRACT AMENDMENT

might would be especially relevant when leveraged with additional subsidies and applied to moderate priced BMRs that would otherwise eliminate lower income households from the market. The services discussed below would only be incorporated into BAAHA's administrative contract if the above studies render a viable outcome to incorporate City funding towards the PDALP. Intake and Data Management System BAAHA will coordinate with the City to conduct a lottery for prospective first time homebuyers applying for a maximum $100,000 PDALP loan. The City funding is for three $100,000 subsidies. BAAHA will handle all activities associated with the lottery, including: All follow up notifications to the Lottery applicants regarding requirements, key dates, and outcomes associate with the lottery. Follow up to address questions, concerns,and disputes that lottery applicants may have regarding their lottery draw and ranking determinations. PDALP Outreach, Intake, Processing and Underwriting System and Administrative Fee BAAHA will apply its internal management systems to work through each element of the PDALP administrative process. BAAHA would send out program notifications to local Pleasanton real estate lenders. The notifications will include: General description of the PDALP, including guidelines and parameters. Next steps the Lender will need to take to initiate the PDALP screening process with BAAHA. Hard copy and electronic links to gain access to the PDALP Program application. Detailed instructions on how to submit a complete PDALP application for their client to BAAHA. Lenders will be required to submit completed DAP application packages for their clients directly to BAAHA. The completed packages will include: The signed BAAHA/City PDALP application An approval letter and supporting underwriting documentation, such as an Automated Underwriting System (AUS) finding. All requisite supporting documents required for BAAHA's PDALP underwriting and Program approval review. BAAHA will conduct their preliminary review and PDALP approval underwriting process. Upon completing this process, BAAHA will direct an approval or disapproval recommendation to the City. If approved by the City, BAAHA will issue a 90 day reservation to the PDALP applicant. This reservation could be further extended for 30 days if a)the applicant has entered into a real estate purchase contract; or b)the applicant delivers proof of substantive efforts to purchase a home. 101 Page Docusign Envelope ID: F53F1E05-ADA3-465D-BE20-156E055217E3