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Inst 97277997
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Inst 97277997
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Last modified
12/12/2006 10:15:20 AM
Creation date
5/1/2006 5:21:52 PM
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CM City Clerk-City Council
Document Date (6)
9/2/1997
Recorded Document Type
Deed of Trust
Retention
PERM
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Recorded in Official Records Alameda County <br />Patrick O'Conne;;, Clerk-Recorder <br />No Fee <br />97277997 12:38pm 10/22/91 <br />038 126367 31 16 0:0~:00.00 0.00 2.00 <br />A02 13 7.00 36.00 . <br /> <br />Recording Requested by and <br />After Recording Return To: <br /> <br />Redevelopment Agency of <br />City of San Leandro <br />835 East 14th Street <br />San Leandro, CA 94577 <br /> <br />DEED OF TRUST <br /> <br />THIS DEED OF TRUST ("Security Instrument") is made on September 2, 1997. <br />The grantor is Mission Bell Apartments & Stores, Inc. ("Borrower") whose address is 112 <br />Garcia Avenue, San Leandro, California. The Trustee is the City of San Leandro, a <br />Municipal Corporation ("Trustee"). The beneficiary is the Redevelopment Agency of the <br />City of San Leandro, a public agency, organized and existing under the laws of the State <br />of California, and whose address is 835 E. 14th Street, San Leandro, California <br />("Agency" or "Lender"). Borrower owes Lender the principal sum of ONE HUNDRED <br />AND EIGHTEEN THOUSAND FIVE HUNDRED DOLLARS ($118,500.00). This <br />debt is evidenced by Borrower's Promissory Note ("Note") dated the same date as this <br />Security Instrument, which provides that Borrower shall make monthly payments of <br />interest and principal as required by the City of San Leandro finance Director, or his or <br />her designee, pursuant to the terms of the Promissory Note, for two hundred and forty <br />(240) months from the date of recordation of a Certificate of Completion for the retrofit <br />and rehabilitation project. <br /> <br />The Note provides that the full debt shall be due and payable upon sale, transfer, <br />conveyance or assignment to any other party(ies) of any interest or right of Borrower in <br />the property without prior written notice to the Lender and prior written consent of the <br />Lender which shall be granted upon written acknowledgment and assumption by buyer, <br />transferee, recipient or assignee that s/he shall be bound by the covenants and conditions <br />of the Note, Security Instrument, Owner Participation Agreement and Regulatory <br />Agreement; or on the date Borrower, after reasonable opportunity to cure, is declared by <br />Lender to be in default of any provision of this Security Instrument, the Note, Owner <br />Participation Agreement, or Regulatory Agreement. <br /> <br />The loan evidenced by the Note and secured by this Security Instrument (the <br />"Loan") is being made pursuant to the Redevelopment Agency of the City of San <br />Leandro Mfordable Housing Program. <br /> <br />Mission Bell Retrofit <br />Deed of Trust <br />July 24, 1997 <br /> <br />Page 1 of 10 <br />
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