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Deed of Trust Simas Trust
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Deed of Trust Simas Trust
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Last modified
7/9/2024 8:35:34 AM
Creation date
9/22/2020 9:41:22 AM
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CM City Clerk-City Council
Document Date (6)
7/18/2019
Recorded Document Type
Deed of Trust
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PERM
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. I <br />RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: <br />( <br />., <br />· City of San Leandro <br />835 East 141h Street <br />San Leandro, CA 94577 <br />Attn: City Clerk 111~1111111H1111H1111111111f 111f 1111m11m 22 <br />PGS <br />EXEMPT FROM RECORDING FEES PER <br />GOVERNMENT CODE §§6103, 27383 <br />FORM OF DEED OF TRUST <br />DEED OF TRUST WITH ASSIGNMENT OF RENTS, <br />SECURITY AGREEMENT AND FIXTURE FILING <br />CITY OF SAN LEAN ORO <br />THIS DEED OF TRUST WITH ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND <br />FIXTURE FILING ("Deed of Trust") is made as of November 5, 2018, by The Rick Anthony <br />Simas Revocable Trust and The Rodney M. Simas Trust (collectively hereinafter, <br />"Trustor") to City of San Leandro, as trustee ("Trustee"), for the benefit of the City of San <br />Leandro, a public body corporate and politic ("Beneficiary"). <br />RECITALS <br />A. Trustor owns fee simple title to the land described in Exhibit A attached hereto <br />and incorporated herein by this reference (the "Land"). <br />B. Beneficiary and Trustor have entered into an Owner Participation and Loan <br />Agreement dated as of the date hereof (the "Loan Agreement") pursuant to which <br />Beneficiary will loan to Trustor a sum of up to Forty Five Thousand ($45,000) (the "Loan") <br />for the purpose of partially financing the rehabilitation of the building located on the Land. <br />Trustor has issued to Beneficiary a secured promissory note dated as of the date hereof <br />(the "Note") to evidence Trustor's obligation to repay the Loan. Capitalized terms used <br />herein without definition shall have the meaning ascribed to such terms in the Loan <br />Agreement. <br />C. As a condition precedent to the making of the Loan, Beneficiary has required <br />that Trustor enter into this Deed of Trust and grant to Trustee for the benefit of Beneficiary, <br />a lien and security interest in the Property (as hereafter defined) to secure repayment of the <br />Note. <br />NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency <br />of which are hereby acknowledged, it is agreed as follows.
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