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RECORDING REQUESTED By A 2016039305 @211712016 12:15 PM <br /> North American Title Com c -- OFFICIAL RECORDS OF ALAMEDA COUNTY <br /> LeC ? EVE 5 1 STRECORDINGMANNINFEE: <br /> 0.00 <br /> Recording Requested by and / <br /> C,L IcOPN�* <br /> when recorded mail to: <br /> 13 PGS <br /> City of San Leandro <br /> 835 East 14th Street <br /> San Leandro, CA 94577 <br /> Attn: City Manager , <br /> Exempt from Recording Fees <br /> 5 <br /> Pursuant to Government <br /> Code Sections 6103 and 27383 <br /> APN: 412-0006-006-01 and 412-0006-0006-02 <br /> ASSIGNMENT, ASSUMPTION <br /> AND MODIFICATION AGREEMENT <br /> (CITY HOME PROGRAM 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, a California <br /> limited partnership ("Assignor"), LPSL, L.P., a California limited partnership ("Assignee") and the <br /> City of San Leandro, a California charter city(the"City") with reference to the following facts: <br /> A. The City made a loan of HOME program funds in the original amount of$750,000 <br /> (such amount, together with accrued interest thereon, the "Loan")to Citizens Housing Corporation, <br /> predecessor in interest to the Assignor, pursuant to a Loan Agreement dated as of December 6, <br /> 1999 recorded in the Official Records of the County of Alameda (the "Official Records") on <br /> December 14, 1999, as Instrument No. 1999-444481, as amended by Amendment No. 1 to Loan <br /> Agreement dated as of November 17, 2003 recorded in the Official Records on January 12, 2004, as <br /> Instrument No. 2004-013704 and 2004-013705 (collectively, the "Loan Agreement") to be used in <br /> connection with Assignor's residential housing project for low income persons known as Las <br /> Palmas located at 15370-15375 Tropic Court, San Leandro, California and more particularly <br /> described in the attached Exhibit A(the"Property"). <br /> B. The Loan is also evidenced by that certain Secured Promissory Note (the "Note") <br /> dated December 9, 1999, and secured by a Deed of Trust dated December 9, 1999 recorded in the <br /> Official Records on December 14, 1999, as Instrument No. 1999-444481 (the "Deed of Trust") and <br /> a Regulatory Agreement dated December 9, 1999 recorded in the Official Records on December <br /> 14, 1999, as Instrument No. 1999-444481, as amended by Amendment No. 1 to Regulatory <br /> Agreement dated as of November 17, 2003 recorded in the Official Records on January 12, 2004, as <br /> Instrument No. 2004-013705 and by Second Amendment to Regulatory Agreement dated as of <br /> February 7, 2011 recorded in the Official Records on March 28, 2011 as Instrument No. 2011- <br /> 0925264 (collectively, the "Regulatory Agreement"), and a Regulatory Agreement dated as of <br /> December 31, 2000 recorded in the Official Records on October 31, 2002 as Instrument 2002- <br /> 1 <br /> Assignment and Modification—750k HOME <br />