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Note and performance of Trustor's obligations under the Loan Agreement and the other
<br /> City Documents (defined below).
<br /> D. Pursuant to that certain HOME Investments Partnership Program (HOME)
<br /> Agreement (the "City HOME Loan Agreement") dated as of October 24, 2014 and
<br /> executed by and between City and MidPeninsula Housing Corporation, a California
<br /> nonprofit public benefit corporation ("MidPen"), the City made a loan to MidPen in the
<br /> amount of Four Hundred Fifty Thousand Dollars ($450,000) (the "City HOME Loan").
<br /> The obligation to repay the City HOME Loan is evidenced by that certain Promissory
<br /> Note dated as of October 24, 2014 which was executed by MidPen for the benefit of
<br /> City (the "City HOME Note"). Pursuant to an [Assignment, Assumption and
<br /> Modification Agreement], Trustor has assumed MidPen's rights and obligations under
<br /> the City HOME Loan Agreement and the City HOME Note. The obligation to repay the
<br /> City HOME Note is secured by a Leasehold Deed of Trust, Assignment of Rents,
<br /> Security Agreement and Fixture Filing dated as of the date hereof and executed by
<br /> Trustor for the benefit of Beneficiary (the "City HOME Deed of Trust"). The City
<br /> HOME Deed of Trust will be recorded junior to this Deed of Trust substantially
<br /> concurrently herewith.
<br /> NOW THEREFORE, for good and valuable consideration, the receipt and
<br /> sufficiency of which are hereby acknowledged, it is agreed as follows.
<br /> 1. Grant in Trust. In consideration of the foregoing and for the purpose of securing
<br /> payment and performance of the Secured Obligations defined and described in Section
<br /> 2, Trustor hereby irrevocably and unconditionally grants, conveys, transfers and assigns
<br /> to Trustee, in trust for the benefit of Beneficiary, with power of sale and right of entry
<br /> and possession, all estate, right, title and interest which Trustor now has or may later
<br /> acquire in and to the Land, and all of the following, whether presently owned or
<br /> hereafter acquired:
<br /> a. All buildings, structures, and improvements, now or hereafter located or
<br /> constructed on the Land ("Improvements");
<br /> b. All appurtenances, easements, rights of way, pipes, transmission lines or
<br /> wires and other rights used in connection with the Land or the Improvements or as a
<br /> means of access thereto, whether now or hereafter owned or constructed or placed
<br /> upon or in the Land or Improvements and all existing and future privileges, rights,
<br /> franchises and tenements of the Land, including all minerals, oils, gas and other
<br /> commercially valuable substances which may be in, under or produced from any part of
<br /> the Land, and all water rights, rights of way, gores or strips of land, and any land lying in
<br /> the streets, ways, and alleys, open or proposed, in front of or adjoining the Land and
<br /> Improvements (collectively, "Appurtenances");
<br /> c. All machinery, equipment, fixtures, goods and other personal property of
<br /> the Trustor, whether moveable or not, now owned or hereafter acquired by the Trustor
<br /> and now or hereafter located at or used in connection with the Land, the Improvements
<br /> 2
<br /> OAK 44847-7399-4286 v3
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