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RECORDED AT THE REQUEST OF PLACER TITLE CO.6`7-9 2006181158 05/05/2006 08:30 PM OFF iC IaL RECC +75 G aWnEOQ COUNT /a TR_CK O'COt:NELL V1 � RECORDING =EE 0 Recording requested by and when recorded „oa0 mail to: City of San Leandro ill. II I I I II I I li I ll I I I II - a • San Leandro, 14 Street San Leandro, CA 94577 Attention: Executive Director EXEMPT FROM RECORDING FEES I PERGOVERNMENT CODE § §6103, 27383 OO Space above this line for Recorder's use. CITY OF SAN LEANDRO JUN 0 6 2006 DEED OF TRUST WITH ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING CITY CLERK'S OFFICE THIS DEED OF TRUST WITH ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING ( "Deed of Trust ") is made as of APRunk 2006, by Alameda County Allied Housing Program, a California non -profit public benefit corporation, as trustor ( " Trustor ") to Placer Title Company as trustee ( "Trustee ") for the benefit of the City of San Leandro, a public body corporate and politic ( "Beneficiary "). RECITALS A. Trustor owns fee simple title to the land described in Exhibit A attached hereto and incorporated herein by this reference ( "Land "). The Land is located within the Alameda County -City of San Leandro (Joint) Redevelopment Project Area, and concurrently with the recordation of this instrument, Beneficiary, the Redevelopment Agency of the City of San Leandro ( "Agency ") and Trustor have entered into an Affordable Housing Regulatory Agreement and Declaration of Restrictive Covenants dated as of MAy 3 , 2006 and executed by and among Beneficiary and Trustor ( "Regulatory Agreement "). The Regulatory Agreement will be recorded in the Official Records of Alameda County as concurrently herewith. Capitalized terms used herein without definition shall have the meaning ascribed to such terms in the Regulatory Agreement. B. Beneficiary and Trustor have entered into a Loan Agreement dated as of MAy 3 , 2006 ( "City Loan Agreement ") pursuant to which Beneficiary will provide a loan to Trustor in the amount of up to One Million One Hundred Thousand Dollars and Sixty -seven Cents (S1,100,000.67) ( "City Loan ") for the purpose of partially financing the acquisition of a 25 -unit mixed residential and commercial development and related improvements on the Land. Trustor has issued to Beneficiary a secured promissory note dated as of the date hereof (the "City Note ") to evidence Trustor's obligation to repay the Loan. The City Loan Agreement, the City Note and the Regulatory Agreement are collectively referred to herein as the "City Documents." 818002-2 I