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Form of Deed of Trust Pranam LLC 06232022
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Form of Deed of Trust Pranam LLC 06232022
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Last modified
6/26/2024 5:27:46 PM
Creation date
7/18/2022 3:47:53 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
6/23/2022
Recorded Document Type
Deed of Trust
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CITY OF SAN LEANDRO <br />RECORDING REQUESTED <br />AND WHEN RECORDED M <br />City of San Leandro <br />835 East 14'h Street <br />San Leandro, CA 94577 <br />Attn: City Clerk <br />EXEMPT FROM RECORDING FEES PER <br />GOVERNMENT CODE §§6103, 27383 <br />JUL 18 2022 <br />22116076 06/23/2022 11:08 AM 22 PG5 <br />OFFICIAL RECORDS OF ALAMEDA COUNTY <br />Qro„qq MELISSA WILK, CLERK -RECORDER <br />9n RECORDING FEES: $0.00 <br />�9'�Ens cow <br />III1III1II1III I1111111 1111111 <br />FORM OF DEED OF TRUST <br />Space above this line for Recorder's use. <br />DEED OF TRUST WITH ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND <br />FIXTURE FILING <br />THIS DEED OF TRUST WITH ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND <br />FIXTURE FILING ("Deed of Trust") is made as of pN ( I , 2022, by PRANAM, LLC <br />(collectively hereinafter, "Trustor") to City of San Leandro, as trustee ("Trustee"), for the <br />benefit of the City of San 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 Thirty Five Thousand Dollars ($35,000) <br />(the "Loan") for the purpose of partially financing the rehabilitation of the building located on <br />the Land. Trustor has issued to Beneficiary a secured promissory note dated as of the date <br />hereof (the "Note") to evidence Trustor's obligation to repay the Loan. Capitalized terms <br />used 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. <br />Grant in Trust <br />
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