Deed of Trust 15101 Washington Ave 04152024

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Commonwealth Land Title Comoany f Recording requested by and when recorded mail to: City of San Leandro 835 East 14t' Street San Leandro, CA 94577 Attn: City Clerk EXEMPT FROM RECORDING FEES PER GOVERNMENT CODE §§6103, 27383 2024104041 08/26/2024 10:06 AM OFFICIAL RECORDS OF ALAMEDACOUNTY MELISSAWILK, CLERK -RECORDER a RECORDING FEES: $0.00 3 s a ELECTRONICALLY RECORDED This instrument filed for record by Commonwealth Land Tltle Company as an accommodation only. It has not been examined as to its execution or as to its effect upon the title. DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING (15101 Washington — PLHA Loan) THIS DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING (this "Deed of Trust") is made as of April 15, 2024, by Washington Avenue, L.P., a California limited partnership ("Trustor") to Doma Title Company of California, Inc. as trustee ("Trustee"), for the benefit of the City of San Leandro, a municipal corporation ("Beneficiary"). RECITALS A. Trustor owns fee simple title to the land described in Exhibit A attached hereto and incorporated herein by this reference (the "Land"). Trustor intends to construct a 72-unit multifamily residential development on the Land and related improvements (the "Project"). B. Beneficiary and Trustor have entered into an Loan Agreement dated as of April 15, 2024 (the "Loan Agreement") pursuant to which Beneficiary will provide a loan to Trustor in the amount of up to Three Hundred Forty Nine Thousand Nine Hundred Sixty Dollars ($349,960) ("Loan") for the purpose of partially financing the Project. Trustor has issued to Beneficiary a secured promissory note dated as of the date hereof (the "Note") to evidence Trustor's obligation to repay the Loan. This Deed of Trust, the Loan Agreement, the Note and the Regulatory Agreement (defined below) are collectively referred to herein as the "City Documents." C. As a condition precedent to the making of the Loan, Beneficiary has required that Trustor enter into this Deed of Trust and grant to Trustee for the benefit of Beneficiary, a lien and security interest in the Project and in Trustor's fee simple interest in the Land to secure repayment of the Note and performance of Trustor's obligations under the Loan Agreement and the other City Documents. NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is agreed as follows. 1. Grant in Trust. In consideration of the foregoing and for the purpose of securing payment and performance of the Secured Obligations defined and described in Section 2, Trustor hereby irrevocably and unconditionally grants, conveys, transfers and assigns to Trustee, in trust for the 23 PGS