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Recorded in Official Records, Alameda County Patrick O'Connell, Clerk-Recorder No Fee 97277995 12:38 pm 10/22/97 038 126358 31 16 000340 A02 14 7.00 39.00 0.00 0.00 0.00 2.00 Recording Requested by and After Recording Return To: Redevelopment Agency of City of San Leandro 835 East 14th Street San Leandro, CA 94577 DEED OF TRUST THIS DEED OF TRUST ("Security Instrument") is made on September 2, 1997. The grantor is Mission Bell Apartments & Stores, Inc. ("Borrower") whose address is 112 Garcia Avenue, San Leandro, California. The Trustee is the City of San Leandro, a Municipal Corporation ("Trustee"). The beneficiary is the Redevelopment Agency of the City of San Leandro, a public agency, organized and existing under the laws of the State of California, and whose address is 835 E. 14th Street, San Leandro, California ("Agency" or "Lender"). Borrower owes Lender the principal sum of SIX HUNDRED AND EIGHTY-SIX THOUSAND FIVE HUNDRED DOLLARS ($686,500.00.). This debt is evidenced by Borrower's Promissory Note ("Note") dated the same date as this Security Instrument, which provides that Borrower shall not be required to make interest or principal payments so long as Borrower complies with the terms of the Note, Security Instrument, Owner Participation Agreement, and the Regulatory Agreement for four hundred and forty- four (444) months from the date of recording of the Certificate of Completion for the retrofit and rehabilitation project at 112 Garcia Avenue. The Note provides that the full debt shall be due and payable upon sale, transfer, conveyance or assignment to any other party(ies) of any interest or right of Borrower in the property without prior written notice to the Lender and prior written consent of the Lender which shall be granted upon written acknowledgment and assumption by buyer, transferee, recipient or assignee that s/he shall be bound by the covenants and conditions of the Note, Security Instrument, Owner Participation Agreement and Regulatory Agreement; or on the date Borrower, after reasonable opportunity to cure, is declared by Lender to be in default of any provision of this Security Instrument, the Note, Owner Participation Agreement, or Regulatory Agreement. The loan evidenced by the Note and secured by this Security Instrument (the "Loan") is being made pursuant to the Redevelopment Agency of the City of San Leandro Mfordable Housing Program. Mission Bell Retrofit Deed of Trust July 24, 1997 Page 1 of II