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Recorded at the Request of <br />Old Republic Title Company - <br />Oakland <br />I ( -4611 (P<) <br />Recording requested by and when recorded <br />mail to: <br />City of San Leandro <br />835 East 141 Street <br />San Leandro, CA 94577 <br />Attn: Executive Director <br />EXEMPT FROM RECORDING FEES PER <br />GOVERNMENT CODE §§6103,27383 <br />2017141889 06/29/2017 11;09 AM <br />OFFICIAL RECORDS OF ALAMEDA COUNTY <br />..- a <br />STEVE MANNING <br />• �9�,iOpN�� • RECORDING FEE: 0.00 <br />IIIIIII I III IN 111111111 21 PGS <br />Space <br />Recorder's use. <br />LEASEHOLD DEED OF TRUST, ASSIGNMENT OF RENTS, <br />SECURITY AGREEMENT AND FIXTURE FILING <br />THIS LEASEHOLD DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY <br />AGREEMENT AND FIXTURE FILING (this "Leasehold Deed of Trust") is made as of <br />May 1, 2017, by San Leandro Senior Associates, L.P., a California limited partnership <br />("Trustor") to Old Republic Title Company, a California corporation, as trustee ("Trustee"), <br />for the benefit of the City of San Leandro, a California charter city ("Beneficiary"). <br />RECITALS <br />A. Trustor has a lease for the possession of certain real property located at 528 <br />West Juana Ave, San Leandro, CA 94577 in the City of San Leandro, California, known as <br />Alameda County Assessor's Parcel Number Parcel 1 Of Parcel Map 10213, and more <br />particularly described in Exhibit A attached hereto and incorporated herein (the "Land"). The <br />person or entity with fee title simple to the Property has provided Trustor with permission to <br />build upon the Property. Trustor intends to construct an 85 -unit senior rental housing <br />development on the Land and related improvements (the "Project"). <br />B. City is a participating jurisdiction in the Alameda County HOME Consortium <br />("Consortium") and is a recipient of funds pursuant to the HOME investment Partnership <br />Act, established by the National Affordable Housing Act of 1990 (42 U.S.C. § 12471 et seq., <br />("HOME Program") that are subject to certain restrictions established by the United States <br />Department of Housing and Urban Development ("HUD") under 24 CFR 92. <br />C. Beneficiary and Trustor have entered into a Loan Agreement dated as of <br />May 1, 2017 (the "Loan Agreement") pursuant to which Beneficiary will provide a loan to <br />Trustor in the amount of up to Two Hundred Fifty -Six Thousand Seven Hundred Sixty -One <br />Dollars ($256,761) from HOME Program Funds ("HOME Loan") for the purpose of <br />partially financing the Project. Trustor has issued to Beneficiary a secured promissory note <br />dated as of the date hereof (the "HOME Note") to evidence Trustor's obligation to repay the <br />HOME Loan. Pursuant to the Loan Agreement Beneficiary will alsoprovidea loan to Trustor <br />in the amount of up to Seven Hundred Forty -Three Thousand Two Hundred Thirty -Nine <br />Dollars ($743,239) from the City of San Leandro's General Fund ("City Loan") for the <br />purpose of partially financing the Project. Trustor has issued to Beneficiary a secured <br />promissory note dated as of the date hereof (the "City Note") to evidence Truster's obligation <br />to repay the City Loan. <br />144\259\1892893.2 <br />N <br />