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Recording requested by and when recorded mail to: <br />Redevelopment Agency of the City oCSan Leandro <br />835 East 14°i Street <br />San Leandro, CA 94577 <br />Attn: Executive Director <br />EXEMPT FROM RECORDING FEES PER <br />GOVERNMENT CODE ~§6103, 27383 <br />Space above this line for Recorder's use. <br />DEED OF TRUST, ASSIGNMENT OF RENTS, <br />SECURITY AGREEMENT AND FIXTURE FILING <br />THIS DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND <br />FIXTURE FILING (this "Deed of Trust") is made as of , 2007, by Estabrook <br />Senior Housing, L.P., a California limited partnership ("Trustor") to North American Title <br />Company as trustee ("Trustee"), for the benefit of the Redevelopment Agency of the City of San <br />Leandro, a public body corporate and politic ("Beneficiary"). <br />RECITALS <br />A. Trustor owns fee simple title to the land described in Exhibit A attached hereto <br />and incorporated herein by this reference (the "Land"). The Land is located within the Alameda <br />County-City of San Leandro (Joint) Redevelopment Project Area ("Project Area"). Trustor <br />intends to construct a 51-unit senior rental housing development on the Land and related <br />improvements (the "Project"). <br />B. Beneficiary, Trustor and City of San Leandro ("City") have entered into an <br />Owner Participation and Loan Agreement dated as of , 2007 (the "OPA") <br />pursuant to which Beneficiary will provide a loan to Trustor in the amount of up to One Million <br />Nine Hundred Seventy-Eight Thousand Dollars ($1,978,000) ("Agency Loan") for the purpose <br />of partially financing the Project. Trustor has issued to Beneficiary a secured promissory note <br />dated as of the date hereof (the "Note") to evidence Trustor's obligation to repay the Agency <br />Loan. A Memorandum of the OPA will be recorded in the Official Records of Alameda County <br />concurrently herewith. This Deed of Trust, the OPA, the Note and the Regulatory Agreement <br />(defined below) are collectively referred to herein as the "Agency Documents." <br />C. As a condition precedent to the making of the Agency Loan, Beneficiary has <br />required that Trustor enter into this Deed of Trust and grant to Trustee for the benefit of <br />Beneficiary, a lien and security interest in the Project and in Trustor's fee simple interest in the <br />Land to secure repayment of the Note and performance of Trustor's obligations under the OPA <br />and the other Agency Documents. <br />NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of <br />which are hereby acknowledged, it is agreed as follows. <br />1. Grant in Trust. In consideration of the foregoing and for the purpose of securing payment <br />and performance of the Secured Obligations defined and described in Section 2, Trustor hereby <br />956218-3 <br />