Deed of Trust Shoreline Single Family Element

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Note and all its terms are incorporated herein by reference, and this conveyance shall secure any and all extensions thereof, however evidenced; (b) Payment of any sums advanced by Beneficiary to protect the Security pursuant to the terms and provisions of this Deed of Trust following a breach of Trustor's obligation to advance said sums and the expiration of any applicable cure period, with interest thereon as provided herein; (c) Performance of every obligation, covenant or agreement of Trustor contained herein and in the Loan Documents; and (d) All modifications, extensions and renewals of any of the Secured Obligations (including without limitation, (i) modifications, extensions or renewals at a different rate of interest, or (ii) deferrals or accelerations of the required principal payment dates or interest payment dates or both, in whole or in part), however evidenced, whether or not any such modification, extension or renewal is evidenced by a new or additional promissory note or notes. AND TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES: ARTICLE 1 DEFINITIONS In addition to the terms defined elsewhere in this Deed of Trust, the following terms shall have the following meanings in this Deed of Trust: Section 1.1 The term "Loan Agreement" means that certain Third Amendment to Purchase and Sale Agreement and Disposition and Development Agreement between Cal Coast Companies LLC, Inc., a Delaware corporation, and Beneficiary, dated December 19, 2022, providing for the Beneficiary to loan to Trustor Twenty -Four Million Eight Hundred Eighty -Two Thousand Nine Hundred Fifty -Eight Dollars ($24,882,958). Cal Coast Companies LLC, Inc. has assigned to Trustor its interest in the Single Family Element (as defined in the Loan Documents). Section 1.2 The term "Loan Documents" means this Deed of Trust, the Note, the Loan Agreement, the Single Family PSA and the DDA (as defined in the Loan Agreement), and any other debt, loan or security instruments between Trustor and the Beneficiary relating to the Property. Section 1.3 The term "Note" means the Promissory Note in the principal amount of Twenty -Four Million Eight Hundred Eighty -Two Thousand Nine Hundred Fifty -Eight Dollars ($24,882,958), of even date herewith, executed by Trustor in favor of Beneficiary, as it may be amended or restated, the payment of which is secured by this Deed of Trust. (A copy of the Note is on file with the Beneficiary and terms and provisions of the Note are incorporated herein by reference.)