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Inst 94326079
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Inst 94326079
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Last modified
3/10/2025 6:03:04 PM
Creation date
6/29/2016 3:29:58 PM
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CM City Clerk-City Council
Document Date (6)
10/6/1994
Recorded Document Type
Deed of Trust
Assignment of Rents
Retention
PERM
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r • 94326079 <br />property before transfer of title, refinancing, judicial <br />sale on execution or other legal process of foreclosure of <br />Trustee's sale. <br />C. The above grant, transfer, and assignments are for the <br />purposes of securing payment of the indebtedness evidenced by the <br />Promissory Note executed herewith and any and all amendments, <br />modifications, extensions or renewals of such Promissory Note. <br />D. Trustor agrees to pay the City of San Leandro the <br />indebtedness hereunder upon the occurrence of any of the <br />following: <br />(1) Trustor sells, conveys, alienates or otherwise <br />transfers any interest in the property including any <br />improvements thereto or thereon, provided that this <br />Promissory Note shall not be due and payable if DEAF <br />COUNSELING, ADVOCACY AND REFERRAL AGENCY (DCARA), encumbers <br />its interest in the property as security for any Capital <br />Improvement loan where such proceeds are used solely to <br />improve the DEAF COUNSELING, ADVOCACY AND REFERRAL AGENCY <br />(DCARA) facilities herein described in Exhibit A and where <br />such facilities are used in part to benefit low- and <br />moderate -income residents of San Leandro; or <br />(2) Trustor ceases to provide services at the property <br />which benefit low- and moderate -income residents; or <br />(3) Trustor leases any or all portions of the property <br />herein, provided that the Promissory Note shall not be due <br />and payable solely because Trustor leases portions of the <br />property to any governmental entity or to any non-profit <br />association, as defined by United States Internal Revenue <br />Code § 501(c)(3), and such entity or association uses the <br />property for services which benefit low- and moderate -income <br />residents. <br />E. This Deed of Trust is subordinate to the primary Deed <br />of Trust held by the first mortgagee. Unless the Trustee, at its <br />sole discretion, agrees in writing to have this Deed of Trust <br />subordinated to any other Deed of Trust, this Deed of Trust shall <br />only be subordinate to the primary Deed of Trust held by the <br />first mortgagee. <br />F. To protect the security of this Deed of Trust, Trustor <br />covenants and agrees: <br />(1) To keep said property in good condition and <br />repair, not to remove or demolish any building thereon; to <br />complete or restore promptly and in good and workmanlike <br />manner any building which may be constructed, damaged, or <br />destroyed thereon and to pay when due all claims for labor <br />2 <br />
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