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,;+ °F 444 2017112205 05/23/2017 08:30 AM RECORDING REQUESTED BY lit/4A C1FFTCIpL RECORDS OF ��LACfE:P COUNTY and SEND COPY TO: 1±/' �rRECORDNNG F ../ RECORDING FEE: 46.00 C4tIFOO\ City Clerk's Office I /iIlf llt/tili' ll City of San Leandro II 1 I �� 4 's 835 East 14th Street 111.111111111111111111 San Leandro, CA 94577 F ••r�c- q 7 17f" t 'A 404 1 r4 APN 080H-1515-002-03 RECONVEYANCE OF DEED OF TRUST AND RELEASE OF REGULATORY AGREEMENT WHEREAS, the Redevelopment Agency of the City of San Leandro, is the beneficiary ("Beneficiary"), under that certain Deed of Trust and Security Agreement ("Deed of Trust") dated July 1, 2004, executed by Sara Bagwell ("Borrower" or"Owner"), to City of San Leandro, a California charter city, as trustee ("Trustee"), recorded on September 16, 2004 as Document No. 2004420154 in the official records of Alameda County and affecting the real property described therein("Property"); and WHEREAS, the Deed of Trust secures the performance of the covenants and agreements of Borrower contained in that certain Regulatory Agreement ("Regulatory Agreement") executed by and between Beneficiary and Owner, dated October 20, 2004 and recorded on January 6, 2005 as Instrument No. 2005007913 in the Official Records of Alameda County and the repayment of debt evidenced by that Promissory Note ("Note") executed by and between Beneficiary and Owner, dated July 1, 2004; and WHEREAS, the Regulatory Agreement imposes, among other requirements, the use of the Property only for leasing for residential purposes to qualifying low-income residents; and WHEREAS, Owner intends to sell the Property; and WHEREAS, Trustor has requested, and Beneficiary wishes to release and reconvey all rights and interests of the Owner in the Property concurrently with Trustor's sale of the Property. NOW, THEREFORE, (i) the City of San Leandro, as Housing Successor to the Redevelopment Agency of the City of San Leandro, pursuant to the terms of Regulatory Agreement, hereby releases all of its rights and interest, including restrictions on Owner's ability to lease the Property; and (ii) in accordance with the Deed of Trust, the City of San Leandro, as Housing Successor to the Redevelopment Agency of the City of San Leandro, as Beneficiary, and the City of San Leandro, as Trustee, does hereby RELEASE AND RECONVEY, without warranty, to THE PERSON OR PERSONS LEGALLY ENTITLED THERETO, all estates now held by it thereunder in and to that property situated in said county, State of California, more fully described in Exhibit A and authorizes the recordation of this instrument in the Official Records of Alameda County.