SR 05:119 - Laserfiche WebLink

RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: WELLS FARGO BANK, NATIONAL ASSOCIATION 100 N. Wiget Lane, Suite ~,~201 Walnut Creek, CA 94598 Attn: Rosana Laxa, Loan Administrator MODIFICATION OF DEED OF TRUST, PROMISSORY NOTE AND LOAN DOCUMENTS This Modification of Deed of Trust, Promissory Note and Loan Documents (the "Modification") is executed as of April 15, 2005 by CIVIC SQUARE, LLC, a Callfomia limited liability company (the "Bor'--r~wer"), the CITY OF PLEASANTON, a municipal corporation o~ganized and existing under the laws of the State of California (the "Issuer'), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (the "Trustee''). Pumuant to that certain Indenture of Trust executed by the Issuer and Fimt Trust of Califomia, National Association, as trustee (the "OHginal Trustee") and dated as of December 15, 1994 (the "OHginal Indenture''), Issuer issued its $15,000,000 City of Pleasanton Muitifamily Housing Revenue Refunding Bonds (Civfc Square Apartments), 1994 issue A (the "Bonds"). Pumuant to that certain Loan Agreement executed by the Issuer, the Original Trustee and the Borrower and dated as of December 15, 1994 (the "Loan Agreement"), the Issuer mede a loan to the Borrower (the "Loan") funded with proceeds of the Bonds. The obligations of the Borrower for repayment of the Loan ara evidenced by that certain Promissory Note made by the Borrower to the order of the Issuer, dated as of December 15, 1994 (the "Note"), in the original principal amount of $15,000,000.00. The Issuer assigned certain of its rights in the Loan Agreement and the Note to the Original Trustee.. The obligations of the Borrower under the Loan Agreement and the Note are secured by, among other things, (a) that certain Deed of Trust, Fixture Fi)ing and Assignment of Rents executed by the Borrower as trustor, naming Fimt Intemtate Bank of California as trustee and the Issuer as beneficiary, dated as of December 15, 1994 and recorded December 21, 1994 as instrument No. 94390070, Official Records, Alameda County, Catifomia (the "Deed of Trust''), (b) that certain Assignment of Lessor's Interest in Rents, Leases, Income and Profits executed by the Borrower in favor of the Issuer, dated as of December 15, 1994 and recorded December 21, 1994, as Instrument Number 94390071, Official Records, Alameda County, Califumia (the "Assignment of Rents"), and (c)that certain Secudty Agreement executed by the Borrower in favor of the Issuer, dated as of December 15, 1994 (the "Security Agreement"). The interest of the Issuer in and to the Deed of Trust and the Assignment of Rents was assigned to the Original Trustee pursuant to that certain Assignment of (1) Deed of Trust and (2) Assignment of Leesor's Interest in Rents, Leases, Income and Profits executed by the Issuer and recorded December 21, 1994, as Instrument No. 94390072, Official Records, Alameda County, California. The Deed of Trust, the Assignment of Rents, the Security Agreement, and all other documents that secure the obligations of the Borrower under the Note and the Loan Agreement are collectively referred to in this Modification as the "Security Documents." The Trustee is the successor to the Original Trustee as trustee under the Indenture. Pursuant to the Odginal indenture, December 1, 2004 was designated as a Remarketing Date, upon which the Bonds would be remarketad, a new fixed interest rate would be established in connection with the Bonds, and a schedule of mandatory redemptions would be established so as to effect amortization of principal of the Bonds. Under the Loan Agreement and the Note, the Borrower ~ obligated to make payments of principal of the Loan in amounts sufficient to effect such sci~eduled mandatory redemptions. Pursuant to that certain First Supplemental Indenture of Trust dated as of even data herewith and executed by and between the Issuer and the Trustee, and consented to by the Borrower and Wells Fargo Bank, National Association, the Remarketing Date has been changed from December 1, 2004 to December 1, 2009,.subject to further extension upon conditions set forth in the Original Indenture. Accordingly the date for remarkeflng of the Bonds, establishment of a fixed interest rate with respect to the Bonds and the Note, and commencement of scheduled mandatory redemptions of the Bonds and corresponding principal payments on the Note has been deferred from December 1, 2004 to December 1, 2009, subject to further extension upon conditions set forth in the Original Indenture.