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s` <br /> ' +1!„,/y <br /> F 42014258957 10/24/2014 02:47 PM <br /> OFFICIALORECORDSL F ALAMEDA COUNTY <br /> r RECORDING FEE: 0.00 <br /> T6RECbRDING REQUESTED BY <br /> AND WHEN RECORDED MAIL TO: <br /> 01 I 01 I III 01111111 0 II 22 PGS <br /> City of San Leandro <br /> 835 East 14th Street <br /> San Leandro, CA 94577 <br /> Attn: City Clerk �- <br /> EXEMPT FROM RECORDING FEES PER <br /> GOVERNMENT CODE§§6103,27383 r1P <br /> Space above this line for Recorder's use. <br /> APN: 077E 1591 001 00 <br /> DEED OF TRUST WITH ASSIGNMENT OF RENTS, <br /> SECURITY AGREEMENT AND FIXTURE FILING <br /> THIS DEED OF TRUST WITH ASSIGNMENT OF RENTS, SECURITY AGREEMENT <br /> AND FIXTURE FILING ("Deed of Trust") is made as of May 1, 2014, by Sanford <br /> Investment Company (collectively hereinafter, "Trustor") to the City of San Leandro, as <br /> trustee ("Trustee"), for the benefit of the City of San Leandro, a California charter city <br /> ("Beneficiary"). <br /> RECITALS <br /> A. Trustor owns fee simple title to the land described in Exhibit A attached <br /> hereto and incorporated herein by this reference (the "Land"). The Land is located <br /> within the City of San Leandro. <br /> B. Beneficiary and Trustor have entered into an Owner Participation and <br /> Loan Agreement dated as of the date hereof (the "Loan Agreement") pursuant to which <br /> Beneficiary will loan to Trustor a sum of up to Thirty-Five Thousand Dollars ($35,000) <br /> (the "Loan") for the purpose of partially financing the rehabilitation of the building <br /> located on the Land. 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 <br /> Loan. Capitalized terms used herein without definition shall have the meaning ascribed <br /> to such terms in the Loan Agreement. <br /> C. As a condition precedent to the making of the 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 Property (as hereafter defined) to secure <br /> repayment of the Note. <br /> NOW THEREFORE, for good and valuable consideration, the receipt and <br /> sufficiency of which are hereby acknowledged, it is agreed as follows. <br /> 1. Grant in Trust <br /> In consideration of the foregoing and for the purpose of securing payment and <br /> performance of the Secured Obligations defined and described in Section 2, Trustor <br /> 1177360-2 1 <br />