Deed - 15320 Tropic Ct - File 1357, 2002

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RECORDING REQUL.., � �.L BY AMERICAN TITLE COMPANY Recording Requested by and After Recording Return To: THE CITY OF SAN LEANDRO City Clerk's Office 835 East 14th Street San Leandro, CA 94577 QI, V DEED OF TRUST 2002261092 06/13/2002 08;30 AM OFFICIAL RECORDS OF RECORDING FEE: 0.00 ALAMEDA COUNTY PATRICK O'CONNELL � 9 PGS CM Of SA" LfAt M as-o�-az JUL 0 8 2002 CITY CLERK'S OFFICE THIS DEED OF TRUST is made this 6th day of May , 2002 among the Trustor, Citizens' Housing Corporation, a California nonprofit public benefit corporation, (herein "Trustor"), THE CITY OF SAN LEANDRO (herein "Trustee"), and the Beneficiary, THE CITY OF SAN LEANDRO, a public agency organized and existing under the laws of the State of California whose address is 835 East 14th Street, San Leandro, CA 94577(herein "Beneficiary"). TRUSTOR, in consideration of the indebtedness herein recited and the trust herein created, irrevocably grants and conveys to Trustee, in trust, with power of sale, that real property located in the County of Alameda, State of California, more fully described in Exhibit A, which has the address of 15320 Tropic Court, San Leandro, California; TOGETHER with all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances and rents (subject however to the rights and authorities given herein to Beneficiary to collect and apply such rents), all of which shall be deemed to be and remain a part of the property covered by this Deed of Trust; and all of the foregoing, together with said property are hereinafter referred to as the "Property"; TO SECURE to Beneficiary payment of the indebtedness evidenced by a promissory note, of even date herewith, and extensions and renewals thereof (herein "Note"), in the principal sum of SEVEN HUNDRED THOUSAND ($700,000.00), any additional sums and interest thereon hereafter loaned by Beneficiary to Trustor, which loans are evidenced by a promissory note or notes, containing a recitation that this Deed of Trust secures the payment thereof, and the performance of each agreement herein contained. Trustor covenants that it is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property, and that, to the best of Trustor's knowledge, the Property is unencumbered except for encumbrances of record. Trustor warrants and will defend generally the title to the Property against all claims and demands, subject to encumbrances of record. A. To protect the security of this Deed of Trust, Trustor agrees as follows: Preservation and Maintenance of Property. Trustor agrees to keep the Property in good condition and repair; not to remove or demolish any building thereon; to complete or restore promptly and in good and workmanlike manner any building which may be constructed, damaged, or destroyed thereon and to pay when due all claims for labor performed and materials furnished therefor; to comply with all laws affecting the Property