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RECORDING REQUESTED BY ��t� or 4Cq� 2016039304 02/17/2016 12:15u! <br /> North Amerioan Title Comp b �, OFFICIAL RECORDS <br /> 94( 05- fZ j(y '? JTIS STEVE MANNING OF ALAMEDA CO <br /> c • RECORDING FEE: 0,00 <br /> Recording Requested by and , ,Fop,,,. <br /> when recorded mail to: <br /> 1111111 1111111111111111111111111111 <br /> City of San Leandro 13 PGS <br /> 835 East 14`h Street <br /> San Leandro, CA 94577 <br /> Attn: City Manager <br /> IA <br /> A fr cl <br /> Exempt from Recording Fees <br /> 3 <br /> Pursuant to Government <br /> Code Sections 6103 and 27383 <br /> APN: 412-0006-006-01 and 412-0006-006-02 <br /> ASSIGNMENT,ASSUMPTION <br /> AND MODIFICATION AGREEMENT <br /> (AFFORDABLE HOUSING LOAN) <br /> This Assignment, Assumption and Modification Agreement (the "Agreement") is entered <br /> into as of February 01 , 2016, by and among Las Palmas Development Partners, L.P., a <br /> California limited partnership ("Assignor"), LPSL, L.P., a California limited partnership <br /> ("Assignee") and the City of San Leandro, a California charter city (the "City"), as successor in <br /> interest to the Redevelopment Agency of the City of San Leandro (the "Former Agency") with <br /> reference to the following facts: <br /> A. The Former Agency made a loan in the original amount of$50,000 (such amount, <br /> together with accrued interest thereon, the"Loan")to Assignor pursuant to a Loan Agreement dated <br /> as of February 7, 2011 (the "Loan Agreement")to be used in connection with Assignor's residential <br /> housing project for low income persons known as Las Palmas located at 15370-15375 Tropic <br /> Court, San Leandro, California and more particularly described in the attached Exhibit A (the <br /> "Property"). <br /> B. Assembly Bill 26 ("ABx1 26") was enacted by the State Legislature and signed by <br /> the Governor as of June 29, 2011. <br /> C. On December 29, 2011 the California Supreme Court delivered its decision in <br /> California Redevelopment Association v. Matasantos, finding ABx1 26 (together with AB 1484 <br /> and SB 107, the "Dissolution Law"), largely constitutional and resulting in the dissolution of all <br /> California redevelopment agencies, including the Former Agency, on February 1,2012. <br /> D. Pursuant to the Dissolution Law,the Successor Agency is the successor in interest to <br /> the Former Agency. <br /> E. The Loan is also evidenced by that certain Promissory Note (the "Note") dated <br /> February 7, 2011, and secured by a Deed of Trust dated February 7, 2011 recorded in the Official <br /> 1 <br /> Assignment and Modification—50k AH <br />