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04
City of Pleasanton
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CITY CLERK
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2008
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121608
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04
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12/10/2008 4:43:51 PM
Creation date
12/10/2008 4:43:50 PM
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CITY CLERK
CITY CLERK - TYPE
STAFF REPORTS
DOCUMENT DATE
12/16/2008
DESTRUCT DATE
15 Y
DOCUMENT NO
04
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Pleasanton, CA 94566-0802 <br />5.0 The indebtedness evidenced by this Note is secured by a Deed of Trust, dated <br />2009, and reference is made to the Deed of Trust for rights as to <br />acceleration of the indebtedness evidenced by this Note, including Section 19 of the Deed <br />of Trust which provides as follows: <br />Transfer of the Property. Subject to Section 22, if all or any of the <br />Property or an interest in it is sold or transferred by Borrower, <br />excluding permitted transfers to a spouse or other person signing <br />the Note in the manner described in Section 5 above, all the sums <br />secured by this Deed of Trust shall be immediately due and <br />payable. In the event of such an acceleration, Lender shall mail <br />Borrower notice of the acceleration in accordance with Section 16 <br />hereof. Such notice shall provide a period of not fewer than 30 <br />days from the date the notice is mailed within which Borrower <br />may pay the sums declared due. If Bon•ower fails to pay such <br />sums prior to the expiration of such period, Lender may, without <br />further notice of demand on Borrower, invoke any remedies <br />permitted by Section 20 hereof. <br />6.0 Nonrecourse. This Note constitutes a portion of the purchase price of the Residence. <br />Borrower shall have no personal liability for any deficiency on this Note and the only <br />remedy available to the City or any holder in due course shall be foreclosure pursuant to <br />law as provided in the Deed of Trust securing this Note. The City may assign its right to <br />receive the proceeds under this Note to any person and upon notice to Borrower by the <br />City all payments shall be made to the assignee. <br />7.0 Controlling Law. The provisions of this Note shall be interpreted under the laws of the <br />State of California. <br />BORROWER: <br />Housine Options Utilizine Supportive Environments <br />(HOUSE, Incl. a California Nonprofit Public Benefit <br />Corporation <br />By: <br />By: <br />
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