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37. AMENDMENT TO THE DEVELOPER AGREEMENT BETWEEN MARICOPA COUNTY AND MADISON HEIGHTS PHASE II, LLC Approve a non-financial Amendment No. 1 to the Madison Heights Phase I Developer Agreement to address the following: 1. Clarify the Parties to the Agreement; 2. State the loan is non-recourse, but subject to the remedies set forth in the Declaration of Affirmative Land Use Restrictive Covenants, which is exhibit B to the Agreement; and 3. Amend the program income provisions to comport with federal regulations. 4. Clarifying the parties to the Declaration of Covenants, Conditions, and Restrictions. Any term of the original Agreement not amended hereby remains in full force and effect. Request authorization for the Chairman to sign Subordination Agreement (Construction Loan), Deed of Trust, and any subsequent legal agreement or document required for the completion of the project addressed in the Agreement. (C-22-15-061-3-01)

Attachments (4)

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40. AMENDMENT TO THE DEVELOPER AGREEMENT WITH MADISON HEIGHTS PHASE II, LLC Approve a non-financial Amendment No. 2 to the Madison Heights Phase II Developer Agreement (C-22-15-061-3) to address the following: 1. Delete all references to “Phase I” and substitute with “Phase II.” Replace the first recital of the Contract Agreement. 2. Delete and substitute “ninety-five” percent in Paragraph 6.2. page 4 of the original agreement; 3. Delete reference to AHP Housing Fund 106 in paragraph 49 and substitute AHP Housing Fund 107 Any term of the original Agreement not amended hereby remains in full force and effect. (C-22-15-061-3-02)

Vote — approved

Steve Gallardo	abstain
Bill Gates	abstain
Clint Hickman	abstain
Gallardo Medical Examiner	yes
and Clint Hickman	yes
Denny Barney	abstain
Steve Chucri	yes

41.SUBORDINATION AGREEMENT BETWEEN MARICOPA COUNTY AND MADISON HEIGHTS PHASE II, LLCApprove a non-financial subordination agreement to the Madison Heights Phase II Developer Agreement to address the following:1. Subordinate $200,000 in HOME funds to Senior Lender to secure permanent financing. 2. Maricopa County will remain in 3rd lien position, junior to the permanent loan and the Arizona Department of Housing Trust Fund loans. (C-22-15-061-3-03) Motion to approve by Supervisor Gates, seconded 

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41. SUBORDINATION AGREEMENT BETWEEN MARICOPA COUNTY AND MADISON HEIGHTS PHASE II, LLC Approve a non-financial subordination agreement to the Madison Heights Phase II Developer Agreement to address the following: 1. Subordinate $200,000 in HOME funds to Senior Lender to secure permanent financing. 2. Maricopa County will remain in 3rd lien position, junior to the permanent loan and the Arizona Department of Housing Trust Fund loans. (C-22-15-061-3-03)

Attachments (1)

Vote — approved

Steve Gallardo	abstain
Bill Gates	abstain
Clint Hickman	abstain
Gallardo School Superintendent	yes
and Clint Hickman	yes
Denny Barney	abstain
Steve Chucri	yes

71.SUBORDINATION AGREEMENT BETWEEN MARICOPA COUNTY AND MADISON HEIGHTS PHASE II, LLCApprove a non-financial subordination agreement to the Madison Heights Phase II Developer Agreement to address the following:1. Subordinate deed restrictions (Land Use Restrictive Agreement-LURA) to the Arizona Department of Housing. The LURA secures the twenty year period of affordability;2. Maricopa County’s lien position will not change; it will remain junior to the permanent loan and the Arizona Department of

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71. SUBORDINATION AGREEMENT BETWEEN MARICOPA COUNTY AND MADISON HEIGHTS PHASE II, LLC Approve a non-financial subordination agreement to the Madison Heights Phase II Developer Agreement to address the following: 1. Subordinate deed restrictions (Land Use Restrictive Agreement-LURA) to the Arizona Department of Housing. The LURA secures the twenty year period of affordability; 2. Maricopa County’s lien position will not change; it will remain junior to the permanent loan and the Arizona Department of Housing Trust Fund loans. Supervisor District: 5. (C-22-15-061-3-04)

Attachments (1)