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Recording requested by and when recorded mail <br />to: <br />City of San Leandro <br />835 East 14" Street <br />San Leandro, CA 94577 <br />Attn: City Clerk <br />EXEMPT FROM RECORDING FEES PER <br />GOVERNMENT CODE §§6103, 27383 <br />Space above this line for Recorder's use. <br />DEED OF TRUST, ASSIGNMENT OF RENTS, <br />SECURITY AGREEMENT AND FIXTURE FILING <br />(15101 Washington — Housing Asset Fund Loan) <br />THIS DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND <br />FIXTURE FILING (this "Deed of Trust") is made as of , by <br />WASHINGTON AVENUE, L.P., a California limited partnership ("Trustor") to <br />Title Insurance Company as trustee ("Trustee"), for the benefit of the City <br />of San Leandro, a municipal corporation (`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"). Trustor intends to construct a 72-unit <br />multifamily residential development on the Land and related improvements (the "Project"). <br />B. Beneficiary and Trustor have entered into an Loan Agreement dated as of <br />(the "Loan Agreement") pursuant to which Beneficiary will provide a loan to <br />Trustor in the amount of up to One Million Six Hundred Thirty Five Thousand Forty Dollars <br />($1,635,040) ("Loan") for the purpose of partially financing the Project. Trustor has issued to <br />Beneficiary a secured promissory note dated as of the date hereof (the "Note") to evidence <br />Trustor's obligation to repay the Loan. This Deed of Trust, the Loan Agreement, the Note and <br />the Regulatory Agreement (defined below) are collectively referred to herein as the "City <br />Documents." <br />C. As a condition precedent to the making of the Loan, Beneficiary has required that <br />Trustor enter into this Deed of Trust and grant to Trustee for the benefit of Beneficiary, a lien <br />and security interest in the Project and in Trustor's fee simple interest in the Land to secure <br />repayment of the Note and performance of Trustor's obligations under the Loan Agreement and <br />the other City Documents. <br />NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of <br />which are hereby acknowledged, it is agreed as follows. <br />1. Grant in Trust. In consideration of the foregoing and for the purpose of securing payment <br />and performance of the Secured Obligations defined and described in Section 2, Trustor hereby <br />irrevocably and unconditionally grants, conveys, transfers and assigns to Trustee, in trust for the <br />