This document was prepared by, and after recording, return to: John M. Mulherin Mulherin, Rehfeldt & Varchetto, P.C. 211 S. Wheaton Avenue, #200 Wheaton, IL 60187

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RELEASE OF RIGHT OF REVERSION

This Release of Right of Reversion (the “Release”) is made as of the 23rd day of February, 2016 by the County of DuPage, a body politic of the State of Illinois (the “Grantor”), for the benefit of Community Housing Advocacy and Development (f/k/a Community Housing Association of DuPage), an Illinois not-for-profit charitable corporation (the “Grantee”).

RECITALS:

A. Grantee is engaged in the business of providing affordable housing to income qualified individuals and families and in conjunction with its operations from time to time acquires residential properties at times with the assistance of various governmental entities, including Grantor;

B. On or about September 18, 1986, with the assistance of Grantor, Grantee acquired two multi-family properties (the “Quincy Avenue Properties”) commonly known as 216 and 222 Quincy Avenue, Westmont, Illinois, the legal description of each parcel is set forth on Exhibit “A” attached to this Release;

C. Concurrent with and in consideration of the assistance provided by

Grantor, Grantee incorporated certain covenants (the “Affordable Housing Covenants”) into the deeds of conveyance under the terms of which it committed to maintain the Quincy Avenue Properties for use as Affordable Housing for an indefinite period of time;

D. The Affordable Housing Covenants included the reversion (the “Right of Reversion”) of title to either or both of the Quincy Avenue Properties to Grantor, free of any and all liens and encumbrances, in the event of Grantee’s default of any of the Affordable Housing Covenants;

E. On or about July 26, 2011 Grantor, through its Community

Development Commission (the “CDC”), as an agent of the U.S. Department of Housing and Urban Development (“HUD”), awarded a grant (the “HUD Grant”) to Grantee for the rehabilitation of certain of its properties, including the Quincy Avenue Properties;

F. As a condition of the award of the HUD Grant, Grantee committed

to the utilization of the Quincy Avenue Properties as Affordable Housing in the manner as prescribed in the Grant Agreement for the period of ten (10) years (the “Affordability Period”);

G. In order to secure the performance by Grantor of its obligations

under the HUD Grant, Grantee executed and delivered to Grantor its Forgivable Note and Forgivable Mortgage conveying a lien on the Quincy Avenue Properties, recorded with the DuPage Recorder of Deeds on September 7, 2011 as document number R2011-105313, a copy of which is attached hereto as Exhibit “B;”

H. Accordingly, Grantee has committed to the utilization of the Quincy

Avenue Properties as Affordable Housing for a defined period of time;

I. Prior to the grant of this Release by Grantor, Grantee conveyed a

mortgage (the “First Merit Bank Mortgage”) on various properties, including the Quincy Avenue Properties, to secure a loan from First Merit Bank (the “First Merit Loan”) the proceeds of which were used to refinance Grantee’s existing indebtedness;

J. As a condition for the grant of the First Merit Loan, Grantee

committed to secure Grantor’s release of the Right of Reversion and Grantor has determined that Grantee has, since the date of the acquisition of the Quincy Avenue Properties, fulfilled its obligations under the Affordable Housing Covenants and is further obligated to do so under the terms of the HUD Grant; and,

K. Grantor further concludes that it is Grantee’s best interests that it is

relieved of the commitment of Right of Reversion on the title to the Quincy Avenue Properties and that to that end Grantor has agreed and by this document will Release and Discharge Grantee of the Right of Reversion in the Quincy Avenue Properties.

NOW, THEREFORE in consideration of the payment of the sum of one dollar ($1) and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged and by the authority of the governing body of the County of DuPage does hereby forever Release and Discharge Community Housing Advocacy and Development, it successors and assigns, from the Right of Reversion as set forth in those deeds of conveyance recorded on September 18, 1986 as documents numbered R86-113524 and R86-113522, copies of which are attached hereto and marked as Exhibits “C” and “D” respectively. This release relates solely to the Right of Reversion and does not release or discharge Grantee of any of its other obligations or undertakings to Grantee in regard to the its use of the Quincy Avenue Properties. This Release of Right of Reversion is executed at Wheaton, Illinois on this 23rd day of February, 2016. County of DuPage, a body politic By: ______________________ County Board Chairman State of Illinois ) ) ss County of DuPage ) I, the undersigned, do hereby certify that Daniel Cronin, personally known to me to be the County Board Chairman of DuPage County, appeared before me this day and acknowledged that he executed the foregoing Release of Right of Reversion as his free and voluntary act as President and personally pursuant to the authority vested in him as President of the DuPage County Board. Dated this 23rd day of February, 2016. __________________________ Notary Public

EXHIBIT A

TO RELEASE OF RIGHT OF REVERSION

Legal Description of the Quincy Avenue Properties:

Lot 5 in Westmont-Quincy Resubdivision of that part of West half of the Northeast Quarter of Section 9, Township 38 North, Range 11, East of the Third Principal Meridian, which lies South of the South line of the right of way of the Chicago, Burlington and Quincy Railroad and of Lots E, F, G, H, and K in Westmont, a Subdivision by Arthur T. McIntosh and Company of the Southeast Quarter and part of the Northeast Quarter of Section 9, Township 39 North, Range 11, East of the Third Principal Meridian according to the plat of said resubdivision thereof recorded September 25, 1964 as Document R64-36060 in DuPage County, Illinois.

Permanent Parcel Number: 09-09-225-001 Commonly known as: 216 Quincy Street, Westmont, Illinois

Lot 4 in Westmont-Quincy Resubdivision of that part of West half of the Northeast Quarter of Section 9, Township 38 North, Range 11, East of the Third Principal Meridian, which lies South of the South line of the right of way of the Chicago, Burlington and Quincy Railroad and of Lots E, F, G, H, and K in Westmont, a Subdivision by Arthur T. McIntosh and Company of the Southeast Quarter and part of the Northeast Quarter of Section 9, Township 39 North, Range 11, East of the Third Principal Meridian according to the plat of said resubdivision thereof recorded September 25, 1964 as Document R64-36060 in DuPage County, Illinois.

Permanent Parcel Number: 09-09-224-002 Commonly known as: 222 Quincy Street, Westmont, Illinois

EXHIBIT B TO

RELEASE OF RIGHT OF REVERSION

Copy of Forgivable Mortgage recorded as Document No. R2011-105313 follows.