1-List of RFP Documents Provided.pdf

260302-RFP-PO-PV EV DEBT

List of Documents Provided:

1. Transaction Overview Memo

2. Eagle Village Property Overview

3. Parrot Village Property Overview

4. EV PV Financials

5. AHA/AAHC Consolidated Audits. Please see https://www.alamedahsg.org/resource-library/agency-documents/ for the most recent audits.

6. Current Preliminary Title reports

7. Photos

8. AHA Developer Qualifications https://www.alamedahsg.org/resource-library/agency-documents/ https://www.alamedahsg.org/resource-library/agency-documents/

Memorandum

Dated: March 2, 2026

Re: Transaction Overview - Eagle Village and Parrot Village Refinance

1. Current mortgage – The current mortgage term on the two properties as a scattered site is due to expire on 8/1/2026. The balance due is estimated at $8,400,000 (3/2/2026)

2. Ownership – Both properties are currently owned by the Alameda Affordable Housing Corporation (“AAHC”), a wholly owned and controlled 501(c)3 nonprofit corporation of the Housing Authority of the City of Alameda (“AHA”). AAHC is considered an affiliated consolidated entity and blended component of AHA. As a government agency, AHA utilizes a cost-recovery system for all its activities, including operation of affordable rental housing. Thus, property operations include onsite and cost-recovery expenses.

3. 2021 Transaction – AHA originally developed both properties. In 2021, in response to HUD regulations, AHA transferred ownership of each parcel to AAHC and took back a seller note for the entire property (land and improvements). In addition, AHA and AAHC signed an option to ground lease, and an option to purchase in case AHA wished to obtain ownership of the land, or of the entire property in the future.

4. Property management – Both properties are currently managed by Asset Living (FPI Management, Inc.) aka FPI.

a. Eagle Village - The property is currently managed from the adjacent Rosefield Village office and Rosefield Village’s onsite manager’s unit, and costs are allocated between the two sites.

b. Parrot Village – The property is currently managed from the adjacent Parrot Gardens office and Parrot Gardens’ and there is cost sharing between the Parrot Village and Parrot Gardens for this office and. the onsite manager’s unit which is located at Parrot Village.

5. Uses of potential cash out for EV/PV

a. Eagle Village – AHA is interested in a small partial repayment of its seller carryback loan

(20% of total proceeds) and approximately $1 million to invest in the property.

b. Parrot Village – AHA is interested in a partial payment of its seller carryback loan (20% of total proceeds) and approximately $2-3 million to invest in the property.

6. Rents – Rents are generally set at the 80% TCAC rent unless a higher payment standard is available.

Income restrictions are at 80% AMI.

7. Voucher contracts

a. Eagle Village – Eagle has no project-based vouchers and historically has approximately

18-20 tenant-based vouchers.

b. Parrot Village – Parrot has a Housing Assistance Contract of 28 project-based vouchers from AHA with a term until 8/31/2039.

8. Welfare and property tax exemptions – Both projects receive a government exemption from property taxes, due to AAHC’s relationship to the AHA. Pursuant to CA AB 1528, property held by a nonprofit public benefit corporation that is controlled by a housing authority is exempt from taxation. The property may have to pay for special assessments. No welfare exemption needs to be filed for these two properties. Please note that the County of Alameda’s system is pending update. A letter from the Office of Assessor of the County of Alameda presenting the Exemption is provided in this RFP package. As part of the County’s process, they have initiated the process to reduce the assessed values of all properties owned by AAHC (including Eagle Village and Parrot Village) to zero.

9. Regulatory Agreement – The AHA regulatory agreement already exists on both properties and is expected to remain in senior position post-refinance. It may be slightly updated to AHA’s current legal standards.

10. Existing option to purchase and ground lease – These agreements are meant to remain and may be subordinate to the new lien.

11. Existing seller carryback loan documents (between the projects and AHA) – These agreements are meant to remain and may be subordinate to the new lien. The current balances of the seller carryback loans are:

a. Eagle Village - $ 10,221,046

b. Parrot Village - $ 3,258,587

12. Current Value: Please use the following conservative estimates for values.

a. Eagle Village - $9,200,000

b. Parrot Village – $20,800,000

c. Together - $30,000,000

13. Fiscal Year: Like AHA, AAHC is on the fiscal year from July 1 to June 30. Financials have been presented on the calendar year for ease of review only. AHA and AAHC are audited annually based on the fiscal year ending June 30. Audited financial statements can be found on the website www.alamedahsg.org. The June 30, 2025 Audited financial statements will be available by March 31, 2026.

http://www.alamedahsg.org/

Eagle Village Property Overview

STREET ADDRESS

700 Block of Eagle Avenue, Alameda, California

COMMUNITY OVERVIEW

Constructed in 1982, Eagle Village is a 36-unit community in the City of Alameda consisting of one -two-, three-bedroom apartment homes. Apartment features and community amenities include large townhouse style floor plans with large patios, washer and dryer hookups, plank flooring, onsite playground, garden setting, ample on-site parking, and resident services. Turnover has been relatively stable but has increased due to relocation out of the immediate area and legal proceedings for non-payment of rent resulting in a decrease of average occupancy year-end 2024 of 98% to 94% in 2025 impacting the 5% decrease in overall revenue year over year. The community does compete with private owners and market rate conventional communities (there are no project-based vouchers at the community) for the larger floorplans and rates are reviewed and adjusted accordingly to remain competitive.

UNIT TYPE SUMMARY

• 1-bedroom, 1 bath (596 square feet) – 4 total units

• Average market rent $2,267

• Average occupied rent $2,088

• 2-bedroom, 1 bath (836 - 957 square feet) – 17 total units

• Average market rent $2,539

• Average occupied rent $2,504

• 3-bedroom, 1.5 bath (1,144 square feet) – 15 total units

• Average market rent $2,862

• Average occupied rent $3,411

CAPITAL PROJECTS COMPLETED (2023 – 2025)

• Exterior Siding- $195,865 (2024)

• Exterior Paint- $68,000 (2024)

• Concrete Wall at Wilma Chan- $25,764 (2023)

• Signage- $2,500 (2023)

Parrot Village Property Overview

STREET ADDRESS

1800 Blocks of St. Charles Street, Chapin Street, Wood Street

COMMUNITY OVERVIEW

Constructed in 1980, Parrot Village is a 50-unit community in the City of Alameda consisting of two-, three-and four-bedroom apartment homes. Apartment features and community amenities include large townhouse style floor plans with large patios, washer and dryer hookups, plank flooring, onsite playground, garden setting, ample on-site parking, and resident services.

Turnover has been impacted by residents in legal from COVID in both 2024 and 2025 with 25% of the turnover due to legal proceedings during this two-year period. Average occupancy for 2024 and 2025 was 90% and 86% respectively with the units not designated under the project-based voucher program making up most of the availability. In addition, the Housing Authority of the City of Alameda wait list was closed mid-Q4 2024 through mid-year 2025 impacting referrals to the community during this time.

Due to the large floor plans and general size of the units the community competes with private owners and market rate conventional communities (there are twenty-seven project-based vouchers at the community), and rates are reviewed and adjusted accordingly to remain competitive. In Q4 of 2025 we implemented target pricing and move in specials to remain competitive in the market and are trending at 92% occupancy through the first quarter of 2026.

UNIT TYPE SUMMARY

• 2-bedroom, 1 bath (774 square feet) – 10 total units

• Average market rent $2,533

• Average occupied rent $2,955

• 3-bedroom, 1.5 bath (1,147 square feet) – 21 total units (16 PBV designated)

• Average market rent $3,693

• Average occupied rent $3,690

• 4-bedroom, 1.5 bath (1,312 square feet) – 19 total units (11 PBV designated)

• Average market rent $3,355

• Average occupied rent $4,187

CAPITAL PROJECTS COMPLETED (2023 – 2025)

• Exterior Siding- $45,162 (2024)

• Exterior Paint- $123,000 (2024)

• Signage- $4,000 (2023)

• Parking Lot Asphalt and Striping-

$84,000 (2025)

2/25/2026 11:00 PM

EOY EOY

Dec 2024 Dec 2025

6999990 INCOME

7000000 REVENUE

7020000 TENANT REVENUE

7030000 Tenant Rental Revenue 283,549 370,911 7030040 Late Charges 1,250 1,675 7030100 Tenant HAP Subsidy 888,555 842,525 7030110 Vacancy Loss -23,570 -78,642 7030120 Rent Free Unit -27,592 -30,468 7040000 Other Tenant Revenue 460 11,000

7050000 TOTAL TENANT REVENUE 1,122,652 1,117,001

7150030 Miscellaneous Other Revenue 35 0

7159000 TOTAL OTHER INCOME 35 0

8999000 TOTAL REVENUE 1,122,687 1,117,001

9000000 EXPENSES

9000900 OPERATING EXPENSES

9100000 ADMINISTRATIVE

9110010 Administrative Salaries 226,251 229,495 9110020 Temporary Help - Administrative 10,003 8,688 9120000 Auditing Fees 2,103 2,723 9130000 Outside Management Fees 18,670 14,573 9150010 Admin Employee Benefits - Medical/Dental 32,273 36,449 9150020 Admin Employee Benefits - PERS/PARS 32,185 19,601 9150030 Admin Employee Benefits - FICA 3,225 3,265 9150040 Admin Employee Benefits - SUI 310 450 9150060 Admin Employee Benefits - Life/LTD 1,154 1,115 9150090 Admin Employee Benefit - WC 3,764 4,132 9160010 Office Supplies/Equipment 1,317 3,014 9160020 Expendable Administrative Equipment 4 0 9160030 Dues & Subscriptions Publications 70 300 9160040 Postage 667 575 9160050 Telephone 980 506 9160060 Bank Charges and Check Supplies 128 373 9160070 Commissioners Meeting Expense 173 146 9160080 Stationery Envelopes and Business Cards 78 78 9160090 Forms and Copies/Printing 0 14 9160100 Classified Ads and Public Notices/outreach material 3,157 7,604 9160110 Legal Expense 9,796 40,349 9160111 Payroll charge 255 394 9160113 Office Rent 3,134 2,818 9160114 Administrative Support 435 824 9160115 Organization Cost 0 0 9160120 Training/Conferences and Travel 2,555 2,934 9160130 Membership Dues and Fees 595 508 9160131 Taxes & Government Fees 1,743 1,747 9160170 Contracts - Administrative Services/Consultant 14,363 5,522 9160180 Contracts - Application Service Provider - Yardi 1,985 3,414 9160190 Contracts - Computer/Telephone Maintenance/Email 30,787 29,129 9160220 Contracts - Human Resource Services 588 58 9160230 Contracts - Housing Inspection Services 7 585 9160260 Contracts - Office Machine Lease 893 699 9160270 Contracts - Web Hosting/Maintenance/Web Ads 153 15 9160290 Contracts - HR Recruitment 3,091 531

9169000 TOTAL ADMINISTRATIVE 406,887 422,629

9200000 TENANT/SOCIAL SERVICES/POLICE

9210030 Police Services 123 0 9210090 Tenant Services Salaries - 3rd Party (Property Managers) 47,792 22,170

9219000 TOTAL TENANT/SOCIAL SERVICES/POLICE 47,915 22,170

9230005 TENANT SERVICES EMPLOYEE BENEFITS AND INSURANCE

Eagle Village Apartments (affeva)

Annual Statement Period = Jan 2024-Dec 2025

Book = Accrual

Dec 2024 Dec 2025

Eagle Village Apartments (affeva)

Annual Statement Period = Jan 2024-Dec 2025

Book = Accrual

9230030 Tenant Svcs Employee Benefits - FICA 0 1,944 9230080 Tenant Svcs Employee Benefits - Other 114 97

9239000 TOTAL TENANT SERVICES EMPLOYEE BENEFITS AND INSURANCE 114 2,042

9240005 TENANT SERVICES

9240020 Tenant Service Activities - Contracts and O/S Services 39,294 35,209 9240040 Tenant/Social Sevices - Other Programs 116 106 9240050 Tenant/Social Sevices - Other 0 664

9249000 TOTAL TENANT SERVICES 39,410 35,979

9300000 UTILITIES

9310000 Water 38,912 38,636 9320000 Electricity 1,809 3,311 9330000 Gas 18 53 9380010 Sewer 12,974 21,128 9380020 Garbage 50,421 57,377

9399000 TOTAL UTILITIES 104,134 120,504

9399990 MAINTENANCE

9400000 MAINTENANCE SALARIES

9410010 Maintenance - Salaries 6,658 0 9410090 Maintenance Salaries - 3rd Party 20,992 16,188

9419000 TOTAL MAINTENANCE SALARIES 27,650 16,188

9420005 MAINTENANCE MATERIALS

9420010 Maintenance Materials 9,861 9,783 9420020 Vehicle - gasoline 157 13 9420030 Janitorials Supplies 291 673

9429000 TOTAL MAINTENANCE MATERIALS 10,310 10,469

9429005 MAINTENANCE CONTRACTS

9429100 Maintenance Contracts - Services 268 1,397 9430010 Maintenance Contracts - Painting 355 7,246 9430020 Maintenance Contracts - Plumbing 29,001 12,759 9430030 Maintenance Contracts - Landscape, Pool, Pond Maintenance 17,861 18,727 9430040 Maintenance Contracts - HVAC Maintenance 5,481 1,341 9430060 Maintenance Contracts - Elevator Maintenance 622 256 9430070 Maintenance Contracts - Extermination 9,353 10,746 9430080 Maintenance Contracts - Electrical Maintenance 345 715 9430090 Maintenance Contracts - Security and Nurse Call Systems 896 774 9430130 Maintenance Contracts - Other 70,450 39,346 9430140 Maintenance Contracts - Vehicle Maintenance 149 190 9430150 Maintenance Contracts - Janitorial 12,538 7,382

9439000 TOTAL MAINTENANCE CONTRACTS 147,319 100,878

9450005 MAINTENANCE EMPLOYEE BENEFITS

9450010 Maint Employee Benefits - Medical/Dental 826 0 9450020 Maint Employee Benefits - PERS/PARS 662 0 9450050 Maint Employee Benefits - Life/LTD 29 0 9450090 Maint Employer Benefits - Other 5,575 3,996 9450091 Maint Employee Benefit - WC 654 0

9459000 TOTAL MAINTENANCE EMPLOYEE BENEFITS 7,746 3,996

9499000 TOTAL MAINTENANCE 193,025 131,530

9500000 GENERAL EXPENSES

9500100 Interest Expense 96,360 93,703 9500200 Other Expense -2,604 0 9520000 Protective Services - Contract Costs 765 0 9610010 Insurance - Workers Compensation 1,812 1,614 9610020 Insurance - Liability 33,581 36,295 9610030 Insurance - Property 373 332 9610040 Insurance - Vehicle 109 98 9610060 Insurance - Other 3,740 1,178 9620010 Other General Expenses 0 19 9640010 Bad Debt - Tenant A/R -16,811 40,979

Dec 2024 Dec 2025

Eagle Village Apartments (affeva)

Annual Statement Period = Jan 2024-Dec 2025

Book = Accrual

9698000 TOTAL GENERAL EXPENSES 117,325 174,219

9699000 TOTAL OPERATING EXPENSES 908,810 909,072

9710000 EXTRAORDINARY EXPENSES

9739500 OTHER EXPENSES

9740000 Depreciation Expense 37,492 33,677

9859999 TOTAL OTHER EXPENSES 37,492 33,677

9990000 OTHER FINANCING

9991000 Operating Transfers In 0 -24,681

9993000 TOTAL OTHER FINANCING 0 24,681

9996000 TOTAL EXPENSES 946,301 942,750

9998000 NET INCOME 176,386 198,932

2/25/2026 11:01 PM

Dec 2024 Dec 2025

6999990 INCOME

7000000 REVENUE

7020000 TENANT REVENUE

7030000 Tenant Rental Revenue 562,989 700,973 7030040 Late Charges 3,496 2,420 7030100 Tenant HAP Subsidy 1,580,078 1,464,134 7030110 Vacancy Loss -199,867 -273,206 7030120 Rent Free Unit -43,128 -50,726 7040000 Other Tenant Revenue -30,918 7,406

7050000 TOTAL TENANT REVENUE 1,872,651 1,851,002

7150030 Miscellaneous Other Revenue 54 0

7159000 TOTAL OTHER INCOME 54 0

8999000 TOTAL REVENUE 1,872,705 1,851,002

9000000 EXPENSES

9000900 OPERATING EXPENSES

9100000 ADMINISTRATIVE

9110010 Administrative Salaries 341,326 335,358 9110020 Temporary Help - Administrative 15,333 12,862 9120000 Auditing Fees 3,231 4,069 9130000 Outside Management Fees 27,737 28,953 9150010 Admin Employee Benefits - Medical/Dental 47,914 52,140 9150020 Admin Employee Benefits - PERS/PARS 48,926 28,054 9150030 Admin Employee Benefits - FICA 4,864 4,769 9150040 Admin Employee Benefits - SUI 478 658 9150060 Admin Employee Benefits - Life/LTD 1,749 1,631 9150090 Admin Employee Benefit - WC 5,779 6,036 9160010 Office Supplies/Equipment 8,701 6,734 9160020 Expendable Administrative Equipment 6 0 9160030 Dues & Subscriptions Publications 106 419 9160040 Postage 1,206 969 9160050 Telephone 1,487 762 9160060 Bank Charges and Check Supplies 295 440 9160070 Commissioners Meeting Expense 291 216 9160080 Stationery Envelopes and Business Cards 116 121 9160090 Forms and Copies/Printing 87 20 9160100 Classified Ads and Public Notices/outreach material -12,801 11,370 9160110 Legal Expense 35,742 56,960 9160111 Payroll charge 818 544 9160113 Office Rent 4,738 4,180 9160114 Administrative Support 670 1,241 9160115 Organization Cost 0 0 9160120 Training/Conferences and Travel 3,806 4,041 9160130 Membership Dues and Fees 915 758 9160131 Taxes & Government Fees 81 69 9160170 Contracts - Administrative Services/Consultant 13,763 8,516 9160180 Contracts - Application Service Provider - Yardi 1,955 4,076 9160190 Contracts - Computer/Telephone Maintenance/Email 47,436 45,769 9160220 Contracts - Human Resource Services 954 88 9160230 Contracts - Housing Inspection Services 10 1,763 9160260 Contracts - Office Machine Lease 1,364 1,037 9160270 Contracts - Web Hosting/Maintenance/Web Ads 244 23 9160290 Contracts - HR Recruitment 4,974 791

9169000 TOTAL ADMINISTRATIVE 614,302 625,436

9200000 TENANT/SOCIAL SERVICES/POLICE

9210030 Police Services 185 0 9210090 Tenant Services Salaries - 3rd Party 77,647 60,113

9219000 TOTAL TENANT/SOCIAL SERVICES/POLICE 77,832 60,113

9219990 RELOCATION

Parrot Village Apartments (affpva)

Annual Statement Period = Jan 2024-Dec 2025

Book = Accrual

Dec 2024 Dec 2025

Parrot Village Apartments (affpva)

Annual Statement Period = Jan 2024-Dec 2025

Book = Accrual

9220000 Tenant-Relocation Costs 68,189 0

9229000 TOTAL RELOCATION 68,189 0

9230005 TENANT SERVICES EMPLOYEE BENEFITS AND INSURANCE

9230030 Tenant Svcs Employee Benefits - FICA 0 4,021 9230080 Tenant Svcs Employee Benefits - Other 173 143

9239000 TOTAL TENANT SERVICES EMPLOYEE BENEFITS AND INSURANCE 173 4,164

9240005 TENANT SERVICES

9240020 Tenant Service Activities - Contracts and O/S Services 29,636 30,300 9240040 Tenant/Social Sevices - Other Programs 161 0 9240050 Tenant/Social Sevices - Other 674 2,789

9249000 TOTAL TENANT SERVICES 30,471 33,089

9300000 UTILITIES

9310000 Water 29,708 53,933 9320000 Electricity 24,228 20,074 9330000 Gas 6,818 10,477 9380010 Sewer 12,242 31,979 9380020 Garbage 105,740 102,454

9399000 TOTAL UTILITIES 178,735 218,917

9399990 MAINTENANCE

9400000 MAINTENANCE SALARIES

9410010 Maintenance - Salaries 11,119 0 9410090 Maintenance Salaries - 3rd Party 88,615 49,614

9419000 TOTAL MAINTENANCE SALARIES 99,734 49,614

9420005 MAINTENANCE MATERIALS

9420010 Maintenance Materials 16,395 20,177 9420020 Vehicle - gasoline 241 19 9420030 Janitorials Supplies 2,437 3,576

9429000 TOTAL MAINTENANCE MATERIALS 19,073 23,771

9429005 MAINTENANCE CONTRACTS

9429040 Maintenance Contracts - Cycle Painting 0 32,750 9429100 Maintenance Contracts - Services 527 2,177 9430010 Maintenance Contracts - Painting 11,845 16,862 9430020 Maintenance Contracts - Plumbing 18,811 55,699 9430030 Maintenance Contracts - Landscape, Pool, Pond Maintenance 16,695 27,672 9430040 Maintenance Contracts - HVAC Maintenance 14,167 2,735 9430060 Maintenance Contracts - Elevator Maintenance 940 382 9430070 Maintenance Contracts - Extermination 7,600 8,388 9430080 Maintenance Contracts - Electrical Maintenance 2,072 4,474 9430090 Maintenance Contracts - Security and Nurse Call Systems 3,407 5,625 9430120 Maintenance Contracts - Flooring Replmt/Cleaning Srvc 0 485 9430130 Maintenance Contracts - Other 98,222 128,688 9430140 Maintenance Contracts - Vehicle Maintenance 238 282 9430150 Maintenance Contracts - Janitorial 13,985 8,028

9439000 TOTAL MAINTENANCE CONTRACTS 188,510 294,246

9450005 MAINTENANCE EMPLOYEE BENEFITS

9450010 Maint Employee Benefits - Medical/Dental 1,379 0 9450020 Maint Employee Benefits - PERS/PARS 1,106 0 9450050 Maint Employee Benefits - Life/LTD 49 0 9450090 Maint Employer Benefits - Other 19,290 9,106 9450091 Maint Employee Benefit - WC 1,092 0

9459000 TOTAL MAINTENANCE EMPLOYEE BENEFITS 22,916 9,106

9499000 TOTAL MAINTENANCE 330,234 376,737

9500000 GENERAL EXPENSES

9500100 Interest Expense 133,147 129,400 9500200 Other Expense -3,748 0 9500300 Claim's Settlement Cost 12,947 0 9520000 Protective Services - Contract Costs 378 0 9610010 Insurance - Workers Compensation 4,699 3,018

Dec 2024 Dec 2025

Parrot Village Apartments (affpva)

Annual Statement Period = Jan 2024-Dec 2025

Book = Accrual

9610020 Insurance - Liability 54,075 58,437 9610030 Insurance - Property 1,120 492 9610040 Insurance - Vehicle 175 146 9610060 Insurance - Other 5,210 1,750 9620010 Other General Expenses 0 27 9640010 Bad Debt - Tenant A/R 72,463 0

9698000 TOTAL GENERAL EXPENSES 280,466 193,270

9699000 TOTAL OPERATING EXPENSES 1,580,402 1,511,727

9710000 EXTRAORDINARY EXPENSES

9739500 OTHER EXPENSES

9740000 Depreciation Expense 39,464 40,245

9859999 TOTAL OTHER EXPENSES (DEPRECIATION NON-CASH) 39,464 40,245

9990000 OTHER FINANCING

9992000 Operating Transfers Out 0 -6,825

9993000 TOTAL OTHER FINANCING 0 -6,825

9996000 TOTAL EXPENSES 1,619,866 1,551,971

9998000 TOTAL NET INCOME 252,839 292,206

February 28, 2025

OFFICE OF ASSESSOR

COUNTY OF ALAMEDA

1221 Oak St., County Administration Building Oakland, CaUCotnla 94612-4288

(510) 272-3787 / FAX (St0) 272-3803

PHONG LA

ASSESSOR

Alameda Affordable Housing Corporation Attn: Vanessa Cooper 70 I Atlantic A venue Alameda, CA 94501

Re: Exemption Approval Confirmation

Dear Claimant, Please note that the nonprofit corporation listed below is under the control of a public housing authority, as specified in Health & Safety Code 34400. As a result, it qualifies for the exemption applicable to local government entities for the listed parcel/accounts.

Nonprofit Corporation (Owner) Alameda Affordable Housing Corporation Public Housing Authority Alameda Housing Authority Location Various

1. 73-425-2 12. 74-1380-29

2. 73-426-16 13. 74-1380-35

3. 74-1379-45 14. 74-1380-38

4. 74-1379-46 15. 74-1380-42

5. 74-1379-69 16. 74-1380-46

Possessory Interest Accounts 6. 74-1380-104 17. 74-1380-62

7. 74-1380-114 18. 74-1380-75

8. 74-1380-125 19. 74-1380-85

9. 74-1380-22 20. 74-1380-98

10. 74-1380-23 21. 74-906-57

11. 74-1380-26 22 74-475-1-8

Effective Date 01/01/2024 Public Housing Authority Alameda Housing Authority

As part of this process, we have initiated the necessary corrections to reduce the assessed value to zero.

Once completed, you will receive either a refund or a corrected tax bill, whichever is applicable.

If you have any questions or need further assistance, please do not hesitate to contact our office. We appreciate your patience and cooperation as we finalize these adjustments.

Sincerely, Phong La Alameda County Assessor

OLD REPUBLIC TITLE COMPANY

For Exceptions Shown or Referred to, See Attached

Page 1 of 11 Pages

ORT 3158-A (Rev. 08/07/08)

555 12th Street, Suite 2000 Oakland, CA 94607

(510) 272-1121 Fax: (510) 208-5045

PRELIMINARY REPORT

Our Order Number 1117031036-JM

Customer Reference 1117031036

When Replying Please Contact:

Julie Massey JMassey@ortc.com

(510) 272-1121

HOUSING AUTHORITY OF THE CITY OF

ALAMEDA

701 Atlantic Avenue Alameda, CA 94501

Attention: SYLVIA MARTINEZ

Property Address:

737 Eagle Avenue, Alameda, CA 94501

In response to the above referenced application for a policy of title insurance, OLD REPUBLIC TITLE COMPANY, as issuing Agent of Old Republic National Title Insurance Company, hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof, a Policy or Policies of Title Insurance describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any defect, lien or encumbrance not shown or referred to as an Exception below or not excluded from coverage pursuant to the printed Schedules, Conditions and Stipulations of said policy forms.

The printed Exceptions and Exclusions from the coverage and Limitations on Covered Risks of said Policy or Policies are set forth in Exhibit I attached. The policy to be issued may contain an arbitration clause. When the Amount of Insurance is less than that set forth in the arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. Limitations on Covered Risks applicable to the Homeowner’s Policy of Title Insurance which establish a Deductible Amount and a Maximum Dollar Limit of Liability for certain coverages are also set forth in Exhibit I. Copies of the Policy forms should be read. They are available from the office which issued this report.

Please read the exceptions shown or referred to below and the exceptions and exclusions set forth in Exhibit I of this report carefully. The exceptions and exclusions are meant to provide you with notice of matters which are not covered under the terms of the title insurance policy and should be carefully considered.

It is important to note that this preliminary report is not a written representation as to the condition of title and may not list all liens, defects, and encumbrances affecting title to the land.

This report (and any supplements or amendments hereto) is issued solely for the purpose of facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If it is desired that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment should be requested.

Dated as of February 17, 2026, at 7:30 AM mailto:JMassey@ortc.com

ORDER NO. 1117031036-JM

Page 2 of 11 Pages

ORT 3158-B

The form of policy of title insurance contemplated by this report is:

ALTA Loan Policy of Title Insurance - 2021. A specific request should be made if another form or additional coverage is desired.

The estate or interest in the land hereinafter described or referred or covered by this Report is:

Fee

Title to said estate or interest at the date hereof is vested in:

Alameda Affordable Housing Corporation, a California nonprofit public benefit corporation

The land referred to in this Report is situated in the County of Alameda, City of Alameda, State of California, and is described as follows:

Parcel 3, Parcel Map 3430, filed April 6, 1981, Map Book 125, Page 68, Alameda County Records.

APN:73-426-16

At the date hereof exceptions to coverage in addition to the Exceptions and Exclusions in said policy form would be as follows:

1. Taxes and assessments, general and special, for the fiscal year 2026 - 2027, a lien, but not yet due or payable.

2. Taxes and assessments, general and special, are currently not assessed because of a statutory exemption. Should the statutory exemption change, taxes may be levied against the land.

http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=00B1682B-8EFF-4DF5-B193-9D01068D1A6A http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=00B1682B-8EFF-4DF5-B193-9D01068D1A6A http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=FFAFA1CF-C201-47F3-9863-A40B73FC0EB5

Page 3 of 11 Pages

3. Said property having been declared tax defaulted for non-payment of delinquent taxes for the fiscal year 2023 - 2024, and subsequent delinquencies

Amount to redeem by February 28, 2026, for the above stated year (and subsequent years, if any) is $299,019.68.

and by March 31, 2026 : is $302,619.13 and by April 30, 2026 : is $306,218.59

Assessor’s Parcel No. : 73-426-16 Bill No. : 822007

HIGH LIABILITY DEFAULT EXAM OF COUNTY RECORDS IS REQUIRED

4. The lien of supplemental taxes, if any, assessed pursuant to the provisions of Section 75, et seq., of the Revenue and Taxation Code of the State of California.

5. The herein described property lying within the proposed boundaries of a Community Facilities District, as follows:

District No : 2014-1 For : Clean Energy Disclosed By : Assessment Map Book 18 Page 65 Recorded : August 24, 2015 in Official Records under Recorder's Serial Number

2015235594

Further information may be obtained by contacting:

Ygrene Fund Energy Inc www.gsfahome.org http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=8541CA81-8977-43CC-800B-1E854ACE775F http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=8541CA81-8977-43CC-800B-1E854ACE775F

Page 4 of 11 Pages

6. Any special tax which is now a lien and that may be levied within the CFD A/C - 03, a notice of which was recorded as follows:

Instrument Entitled : Notice of Special Tax Lien By : East Bay Regional Park Recorded : January 31, 2019 in Official Records under Recorder's Serial

Number 2019015593

NOTE: Among other things, there are provisions in said Notice for a special tax to be levied annually, the amounts of which are to be added to and collected with the property taxes.

NOTE: The current annual amount levied against this land is $0.00.

Further information may be obtained by contacting:

Name : East Bay Regional Park District Address : 2950 Peralta Oak Ct, Oakland, CA 94605 Phone : (888)327-2757

7. An easement affecting that portion of said land and for the purposes stated herein and incidental purposes as provided in the following

Granted To : City of Alameda, a municipal corporation For : Transmitting electricity Recorded : January 19, 1933 in Book 2902 of Official Records, Page 254 Affects : a portion of the premises

8. An easement affecting that portion of said land and for the purposes stated herein and incidental purposes as provided in the following

Granted To : Pacific Telephone and Telegraph Company, For : Public utilities Recorded : January 15, 1976 in Book 4227 of Official Records, Page 438 under

Recorder's Serial Number 76-6289 Affects : The exact location of said easement is not defined of record

The present ownership of said easement and other matters affecting the interests thereto, if any, are not shown herein.

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Page 5 of 11 Pages

9. An easement affecting that portion of said land and for the purposes stated herein and incidental purposes as provided in the following

Granted To : Pacific Telephone and Telegraph Company For : Underground communication facilities Recorded : September 29, 1982 in Official Records under Recorder's Serial

Number 82-147229 Affects : The exact location is not disclosed of record

The present ownership of said easement and other matters affecting the interests thereto, if any, are not shown herein.

10. An easement affecting that portion of said land and for the purposes stated herein and incidental purposes as provided in the following

Granted To : Pacific Gas and Electric Company, a California corporation For : Conveyance of gas Recorded : April 19, 1983 in Official Records under Recorder's Serial Number 83-

64072 Affects : Strips of land 10 feet in width as shown on diagram attached to said

Document

The present ownership of said easement and other matters affecting the interests thereto, if any, are not shown herein.

11. An easement affecting that portion of said land and for the purposes stated herein and incidental purposes as provided in the following

Instrument : Grant of Easement Granted To : Comcast of Alameda, Inc.

For : Right of way to construct, use maintain, operate, alter, add to, repair, replace, reconstruct, inspect and remove at any time and from time to time broadband communictions systems

Dated : June 12, 2009 Recorded : June 21, 2010 in Official Records under Recorder's Serial Number

2010171861 Affects : The exact location of said easement is not defined of record http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=CFC7DF24-8A22-4830-9FFB-1CA98BE859EA http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=CFC7DF24-8A22-4830-9FFB-1CA98BE859EA http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=F39A5F46-5A49-446C-BEAF-BA79CDC0646D http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=F39A5F46-5A49-446C-BEAF-BA79CDC0646D http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=951756A1-0AF9-421D-8AC7-CA53A269DBCC http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=951756A1-0AF9-421D-8AC7-CA53A269DBCC

Page 6 of 11 Pages

12. Redevelopment Plan, as follows:

Entitled : Community Improvement Plan for the Business and Waterfront Improvement Project

Executed By : City of Alameda Dated : June 20, 1991 Recorded : June 21, 1991 in Official Records under Recorder's Serial Number 91-

161219

And as modified by an instrument, executed by City of Alameda, recorded July 3, 2000 in Official Records under Recorder's Serial Number 2000199587.

And any amendments thereto.

13. Agreement for : Regulatory Agreement and Declaration of Restrictive Covenants Executed By : Alameda Public Financing Authority and Between : U.S. Bank National Association and Housing Authority of the City of

Alameda

On the terms, covenants and conditions contained therein, Recorded : May 13, 2005 in Official Records under Recorder's Serial Number 2005200457

The right of the Regulatory Agreement and Declaration of Restrictive Covenants of Alameda Public Financing Authoirty to regulate and control the sale and occupancy of said land as part of said authority’s low and moderate income housing program, pursuant to Ordinance No.

Not Shown of said Regulatory Agreement and Declaration of Restrictive Covenants, as disclosed by the declaration of restrictions last above referred to.

Assignment, Assumption, Consent and Modification Agreement, pertaining to said Regulatory Agreement executed by Housing Authority of the City of Alameda, a public body corporate and politic and existing under the laws of the State of California, Alameda Affordable Housing Corporation, a California nonprofit public benefit corporation and Alameda Public Financing Authority, a joint exercise of powers authority.

Recorded : July 15, 2021 in Official Records under Recorder's Serial Number 2021247821 http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=A3885583-9607-4DC0-B418-20DDFB3AB9D1 http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=A3885583-9607-4DC0-B418-20DDFB3AB9D1 http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=E16EE249-C5C7-4E45-80E4-4839A80ACAD9 http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=E16EE249-C5C7-4E45-80E4-4839A80ACAD9 http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=4105549C-5220-4F1A-B141-EB631F8BAF16 http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=4105549C-5220-4F1A-B141-EB631F8BAF16 http://webdocs.ortc.com/RD/GetTripinDocs.aspx?PTH=lnkupload&DocName=471EBC85-939E-4441-B522-4C8D922F4321&ON=1117017761 http://webdocs.ortc.com/RD/GetTripinDocs.aspx?PTH=lnkupload&DocName=471EBC85-939E-4441-B522-4C8D922F4321&ON=1117017761

Page 7 of 11 Pages

14. Multifamily Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing to secure the indebtedness shown below:

Amount : $9,300,000.00 Borrower : Alameda Affordable Housing Corporation, a California nonprofit public benefit corporation Trustee : Old Republic Title Company Beneficiary : PNC Bank, National Association Dated : July 15, 2021 Recorded : July 15, 2021, Instrument Number 2021247825

Assignment of Deed of Trust

From : PNC Bank, National Association To : Fannie Mae, a corporation Recorded : July 15, 2021, Instrument No. 2021247826

15. Terms and provisions as contained in an instrument, Entitled : Affordable Housing Regulatory Agreement Executed By : Housing Authority of the City of Alameda and Alameda Affordable

Housing Corporation Dated : July 15, 2021 Recorded : July 15, 2021 in Official Records under Recorder's Serial Number

2021247827

NOTE: Said Regulatory Agreement by the provisions of an agreement

Recorded : July 15, 2021 in Official Records under Recorder's Serial Number 2021247831 was made subordinate to the PNC/Fannie Mae Deed of Trust referred to herein as Instrument No. 2021247825.

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Page 8 of 11 Pages

16. Deed of Trust to secure an indebtedness of the amount stated below and any other amounts payable under the terms thereof, Amount : $12,650,000.00 Trustor/Borrower : Alameda Affordable Housing Corporation, a California nonprofit public benefit corporation Trustee : Old Republic Title Company Beneficiary/Lender : Housing Authority of the City of Alameda, a public body corporate and politic and existing under the laws of the State of California Dated : July 15, 2021 Recorded : July 15, 2021 in Official Records under Recorder's Serial Number

2021247829

NOTE: Said Deed of Trust by the provisions of an agreement

Recorded : July 15, 2021 in Official Records under Recorder's Serial Number 2021247831 was made subordinate to the PNC/Fannie Mae Deed of Trust referred to herein as Instrument No. 2021247825.

17. Option to Ground Lease, Optionee: Alameda Affordable Housing Corporation, a California nonprofit public benefit corporation Optionor: Housing Authority of the City of Alameda, a public body corporate and politic and existing under the laws of the State of California Recorded: July 15, 2021 in Official Records under Recorder's Serial Number 2021247835

NOTE: Said Option by the provisions of an agreement

Recorded : July 15, 2021 in Official Records under Recorder's Serial Number 2021247831 was made subordinate to the PNC/Fannie Mae Deed of Trust referred to herein as Instrument No. 2021241825.

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Page 9 of 11 Pages

18. Option to Purchase, Dated : July 15, 2021 Optionor : Alameda Affordable Housing Corporation, a California nonprofit public benefit corporation

Optionee : Housing Authority of the City of Alameda, a public body corporate and politic and existing under the laws of the State of California

Disclosed by : Option to Purchase Agreement

Recorded : July 15, 2021 in Official Records under Recorder's Serial Number 2021247833

NOTE: Said Option by the provisions of an agreement

Recorded : July 15, 2021 in Official Records under Recorder's Serial Number 2021247831 was made subordinate to the PNC/Fannie Mae Deed of Trust referred to herein as Instrument No. 2021247825.

19. Satisfactory evidence furnished to this Company:

(a) as to the due formation and continued existence of Alameda Affordable Housing Corporation, as a legal entity under the laws of California; and

(b) documents from its board of directors authorizing this transaction and specifying the officers to execute on behalf of the corporation.

20. Any facts, rights, interests, or claims that are not shown by the Public Records at Date of Policy but that could be (a) ascertained by an inspection of the Land, or (b) asserted by persons or parties in possession of the Land.

21. Any unrecorded and subsisting leases.

22. The requirement that this Company be provided with an opportunity to inspect the land (the Company reserves the right to make additional exceptions and/or requirements upon completion of its inspection).

23. Water rights, claims or title to water, whether or not shown by the public records.

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Page 10 of 11 Pages

-------------------- Informational Notes -------------------

A. The above numbered report (including any supplements or amendments thereto) is hereby modified and/or supplemented to reflect the following additional items relating to the issuance of an American Land Title Association loan form policy:

NONE

NOTE: Our investigation has been completed and there is located on said land multi-family residences known as 737 Eagle Avenue, Alameda, CA 94501.

The ALTA loan policy, when issued, will contain the CLTA 100 Endorsement and 116 series Endorsement.

Unless shown elsewhere in the body of this report, there appear of record no transfers or agreements to transfer the land described herein within the last three years prior to the date hereof, except as follows:

NONE

B. NOTE: The last recorded transfer or agreement to transfer the land described herein is as follows:

Instrument Entitled : Grant Deed By/From : Housing Authority of the City of Alameda, a public body corporate and politic and existing under the laws of the State of California To : Alameda Affordable Housing Corporation, a California nonprofit public benefit corporation Recorded : July 15, 2021 in Official Records under Recorder's Serial Number

2021247823

C. NOTE: The last recorded transfer or agreement to transfer the land described herein is as follows:

Instrument Entitled : Quitclaim Deed By/From : United States of America, acting through the Housing and Home

Finance Agency To : Housing Authority of the City of Alameda Recorded : March 31, 1955 in Book 7616 of Official Records, Page 3

(Tract Two) http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=4DB27B93-2DCA-43A7-8B61-15BAB7493ADD http://webdocs.ortc.com/RD/GetDTreeDocs.aspx?DocId=4DB27B93-2DCA-43A7-8B61-15BAB7493ADD http://webdocs.ortc.com/RD/GetTripinDocs.aspx?PTH=lnkupload&DocName=9555DA49-75D4-4C91-9CC2-21B009CDEB4D&ON=1117017778 http://webdocs.ortc.com/RD/GetTripinDocs.aspx?PTH=lnkupload&DocName=9555DA49-75D4-4C91-9CC2-21B009CDEB4D&ON=1117017778

Page 11 of 11 Pages

NOTE:

The following statement is deemed attached as a coversheet to any declaration, governing document, or deed identified in the above exceptions:

If this document contains any restriction based on age, race, color, religion, sex, gender, gender identity, gender expression, sexual orientation, familial status, marital status, disability, veteran or military status, genetic information, national origin, source of income as defined in subdivision (p) of Section 12955, or ancestry, that restriction violates state and federal fair housing laws and is void, and may be removed pursuant to Section 12956.2 of the Government

Code by submitting a “Restrictive Covenant Modification” form, together with a copy of the attached document with the unlawful provision redacted to the county recorder’s office. The “Restrictive Covenant Modification” form can be obtained from the county recorder’s office and may be available on its internet website. The form may also be available from the party that provided you with this document. Lawful restrictions under state and federal law on the age of occupants in senior housing or housing for older persons shall not be construed as restrictions based on familial status.

Information for processing a “Restrictive Covenant Modification” form:

1. Print a complete copy of the document in question. Strike out what you believe to be unlawful restrictive language in the document.

2. Print and complete the “Restrictive Covenant Modification” (“RCM”) form. Note that the signature on the form must be acknowledged by a notary public or other qualified officer.

3. Submit the completed RCM form and the document with your strike-outs to the County Clerk-Recorder’s Office for the county where the property is located. No fee is required for this service.

4. The County Clerk-Recorder’s Office will forward the RCM form and the document with your strike-outs to the Office of the County Counsel, who will determine whether the document contains any unlawful restrictions.

5. The Office of the County Counsel will return the RCM form and the document with your strike-outs to the County Clerk-Recorder’s Office along with its determination. If approved, a Deputy County Counsel will sign the RCM, and the County Clerk-Recorder’s Office will record, image and index it. If the Office of the County Counsel determines that the document does not contain an unlawful restriction, the County Clerk-Recorder’s Office will not record the RCM.

6. The approved RCM will be returned to the submitter by mail.

The “Restrictive Covenant Modification” form is linked below:

Restrictive Covenant Modification form https://webdocs.ortc.com/RD/GetTripinDocs.aspx?PTH=lnkupload&DocName=9410C617-DF78-4965-B684-2F5CBBC43FEA&ON=RESCOVMODFOR

ORDER NO. : 1117031036

EXHIBIT A

The land referred to is situated in the County of Alameda, City of Alameda, State of California, and is described as follows:

Parcel 3, Parcel Map 3430, filed April 6, 1981, Map Book 125, Page 68, Alameda County Records.

APN:73-426-16

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Exhibit I

AMERICAN LAND TITLE ASSOCIATION

LOAN POLICY OF TITLE INSURANCE – 2021

EXCLUSIONS FROM COVERAGE

The following matters are excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys’ fees, or expenses that arise by reason of:

1. a. any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) that restricts, regulates, prohibits, or relates to:

i. the occupancy, use, or enjoyment of the Land;

ii. the character, dimensions, or location of any improvement on the Land;

iii. the subdivision of land; or

iv. environmental remediation or protection.

b. any governmental forfeiture, police, regulatory, or national security power.

c. the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b.

Exclusion 1 does not modify or limit the coverage provided under Covered Risk 5 or 6.

2. Any power of eminent domain. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 7.

3. Any defect, lien, encumbrance, adverse claim, or other matter:

a. created, suffered, assumed, or agreed to by the Insured Claimant;

b. not Known to the Company, not recorded in the Public Records at the Date of Policy, but Known to the Insured

Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;

c. resulting in no loss or damage to the Insured Claimant;

d. attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 11, 13, or 14); or

e. resulting in loss or damage that would not have been sustained if consideration sufficient to qualify the Insured named in Schedule A as a bona fide purchaser or encumbrancer had been given for the Insured Mortgage at the Date of Policy.

4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing-business law.

5. Invalidity or unenforceability of the lien of the Insured Mortgage that arises out of the transaction evidenced by the Insured Mortgage and is based upon usury law or Consumer Protection Law.

6. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights law, that the transaction creating the lien of the Insured Mortgage is a:

a. fraudulent conveyance or fraudulent transfer;

b. voidable transfer under the Uniform Voidable Transactions Act; or

c. preferential transfer:

i. to the extent the Insured Mortgage is not a transfer made as a contemporaneous exchange for new value; or

ii. for any other reason not stated in Covered Risk 13.b.

7. Any claim of a PACA-PSA Trust. Exclusion 7 does not modify or limit the coverage provided under Covered Risk 8.

8. Any lien on the Title for real estate taxes or assessments imposed by a governmental authority and created or attaching between the Date of Policy and the date of recording of the Insured Mortgage in the Public Records. Exclusion 8 does not modify or limit the coverage provided under Covered Risk 2.b. or 11.b.

9. Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land.

Exhibit I

AMERICAN LAND TITLE ASSOCIATION

LOAN POLICY OF TITLE INSURANCE – 2021

(Continued)

EXCEPTIONS FROM COVERAGE

Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This policy treats any Discriminatory Covenant in a document referenced in Schedule B as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated. Only the remaining provisions of the document are excepted from coverage.

This policy does not insure against loss or damage and the Company will not pay costs, attorneys’ fees, or expenses resulting from the terms and conditions of any lease or easement identified in Schedule A, and the following matters:

NOTE: The 2021 ALTA Loan Policy may be issued…