JOHNSON, LATRICE N. - Laserfiche WebLink

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RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE 3900 Main Street, 5th Floor Riverside, California 92522 Attn: Housing Manager Project: Down Payment Assistance Program APN: 207-230-003 00, 0 11~1 (SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE) AFFORDABLE LOAN AGREEMENT FOR THE CITY OF RIVERSIDE DOWN PAYMENT ASSISTANCE PROGRAM THIS LOAN AGREEMENT ("Loan Agreement" or "Agreement") is entered into as of this 6th day of April, 2010, between the Redevelopment Agency of the City of Riverside, a public body corporate and politic ("Agency"), and Latrice N. Johnson, a single woman. ("Borrower"). RECITALS A. The Agency has established its Down Payment Assistance Program, under which the Agency will provide a subsidy to Eligible Persons and Families towards the purchase of a residence. The Agency intends that the subsidy provided by the Program will assist first time homebuyers who are Eligible Persons and Families to purchase residential property for owner-occupancy at affordable housing cost; and B. The Borrower is interested in participating in the Agency's Down Payment Assistance Program ("Program"), and will comply with all program rules and requirements; and C. Borrower will use the proceeds of the Program loan for the acquisition of the real property with the street address of 1641 Julia Way, Riverside, California, 92501 more particularly described in Exhibit A attached and incorporated by this reference ("Property"), and other costs as provided in this Loan Agreement; and D. As further consideration for the loan and to further the interests of Agency, Borrower has agreed to enter into and record this Agreement; and E. Borrower has represented to the Agency that Borrower intends to reside in the Property, as his, her or their principal place of residence at all times throughout the term of this Agreement.