Deed - 2420-2424 Merced St - File 1356, 2002

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200214: 7 03/29/2002 03;21 PM OFFICIAL RECONUS ur RECORDING FEE: 0.00 RECORDING REQL'-STED BY: Redevelopment Agency City of San Leandro 835 East 14' Street San Leandro, CA 94577 WHEN RECORDED MAIL TO: City Clerk City of San Leandro 835 East 141' Street San Leandro, CA 94577 ALAMEDA COUNTY PATRICK O'CONNELL I'i I III I' 12 PG5 S(IRR 9�eSo . v I a-o-Oj CITY OF SAN LEANDRO APR 1 8 2002 D APN 77A-0647-001-27,E77A 0647- 01 34, 77A-0647-001-35, CITY CLERK'S OFFICE 77A-0647-001-36, 77A-0647-001-37 & 77A-0647.001-38 THIS DEED OF TRUST is made this 1st day of February, 2002 (the "Effective Date") among the MERCED STREET PROPERTY, LLC, a California corporation ("Trustor"), THE CITY OF SAN LEANDRO, a California municipal corporation ("Trustee"), and THE REDEVELOPMENT AGENCY OF 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, California 94577 ("Beneficiary"). TRUSTOR, in consideration of the indebtedness herein recited, the trust herein created and the terms and conditions of the Owner Participation Agreement by and between the Beneficiary and the Trustor dated December 17, 2001 (the "Owner Participation Agreement"), irrevocably grants and conveys to Trustee, in trust, with power of sale, that approximately 2.1 acres of real property located in the County of Alameda, State of California, as more fully described herein as Exhibit 1, and which is located at 2420-2424 Merced Street, 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 indebtedness, should such payment be enforced by Beneficiary, as evidenced by a promissory note, dated as of the Effective Date, and extensions and renewals thereof ("Note"), in the principal sum of One Hundred Fifty Thousand Dollars and No Cents ($150,000.00) plus interest and any additional sums and interest 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.