Deed of Trust Simas Trust - Laserfiche WebLink

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. I RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: ( ., · City of San Leandro 835 East 141h Street San Leandro, CA 94577 Attn: City Clerk 111~1111111H1111H1111111111f 111f 1111m11m 22 PGS EXEMPT FROM RECORDING FEES PER GOVERNMENT CODE §§6103, 27383 FORM OF DEED OF TRUST DEED OF TRUST WITH ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING CITY OF SAN LEAN ORO THIS DEED OF TRUST WITH ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING ("Deed of Trust") is made as of November 5, 2018, by The Rick Anthony Simas Revocable Trust and The Rodney M. Simas Trust (collectively hereinafter, "Trustor") to City of San Leandro, 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 (the "Land"). B. Beneficiary and Trustor have entered into an Owner Participation and Loan Agreement dated as of the date hereof (the "Loan Agreement") pursuant to which Beneficiary will loan to Trustor a sum of up to Forty Five Thousand ($45,000) (the "Loan") for the purpose of partially financing the rehabilitation of the building located on the Land. 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. Capitalized terms used herein without definition shall have the meaning ascribed to such terms in the Loan Agreement. 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 Property (as hereafter defined) to secure repayment of the Note. NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is agreed as follows.