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Inst 2009195594
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Inst 2009195594
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Last modified
7/17/2009 10:51:44 AM
Creation date
7/17/2009 10:51:43 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
4/1/2009
Recorded Document Type
Deed of Trust
Retention
PERM
Document Relationships
Inst 2007334383
(Amended)
Path:
\City Clerk\City Council\Recorded Documents\2007
Inst 2007334384
(Amended)
Path:
\City Clerk\City Council\Recorded Documents\2007
Inst 2007334385
(Amended)
Path:
\City Clerk\City Council\Recorded Documents\2007
Inst 2007334387
(Amended)
Path:
\City Clerk\City Council\Recorded Documents\2007
Inst 2009067181
(Amended)
Path:
\City Clerk\City Council\Recorded Documents\2009
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10, 2007 in the original principal amount of $1,978,000 ("Agency Note"); <br />and <br />(iv) Deed of Trust by Borrower for the benefit of the City dated as <br />of September 10, 2007, and recorded on September 18, 2007, as <br />Instrument No. 2007-334387 ("City Deed of Trust") securing a Secured <br />Promissory Note in favor of the City dated as of September 10, 2007 in <br />the original principal amount of $2,022,000 ("City Note"). <br />C. Pursuant to that certain Amendment to City and Agency Loan Documents <br />dated as of January 1, 2009 and executed by and among City, Agency and <br />Borrower and recorded in the Official Records of Alameda County on March 6, <br />2009 as Instrument No. 2009067181 ("First Amendment"), the City and Agency <br />Loan Documents were amended to, among other provisions, incorporate aHUD- <br />Required Provisions Rider (the "Original HUD Rider"). <br />D. The City, Agency and Borrower wish to further amend the City Deed of Trust, <br />the Agency Deed of Trust, the City and Agency Regulatory Agreement, and the <br />Owner Participation Agreement in order to append the updated HUD-Required <br />Provisions Rider attached hereto as Exhibit B ("Revised HUD Rider"). <br />E. The Agency Note, as amended by the First Amendment, has been amended <br />and restated by that certain Amended and Restated Secured Promissory Note, <br />executed by Borrower for the benefit of Agency and dated as of the date hereof <br />(the "Amended and Restated Agency Note"). The Revised HUD Rider has <br />been incorporated into the Amended and Restated Agency Note and is attached <br />thereto. <br />F. The City Note, as amended by the First Amendment, has been amended and <br />restated by that certain Amended and Restated Secured Promissory Note, <br />executed by Borrower for the benefit of City and dated as of the date hereof (the <br />"Amended and Restated City Note"). The Revised HUD Rider has been <br />incorporated into the Amended and Restated City Note and has been attached <br />thereto. <br />NOW, THEREFORE, for valuable consideration, the receipt and <br />sufficiency of which are hereby acknowledged, the City, Agency and Borrower <br />agree as follows: <br />1. Amendment of City and Agency Loan Documents. The City and Agency <br />Loan Documents are hereby amended as follows: <br />a. The Revised HUD Rider attached hereto as Exhibit B is incorporated <br />by this reference into the City Deed of Trust, the Agency Deed of Trust, the City <br />and Agency Regulatory Agreement and the Owner Participation and Loan <br />1219529-1 2 <br />
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