AgdaPkt 2015-05-18 Closed and Joint SA and PFA

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9.A. - Page 42 ATTACHMENT B PROMISSORY NOTE City of Redwood City Fire Safety First Pilot Program NOTICE TO BORROWER: THIS DOCUMENT IS SECURED BY A DEED OF TRUST. Date: XXX Loan Amount: $ XXX Loan Number: XXX For Property Located at XXX FOR VALUE RECEIVED, the undersigned ("Borrower"), promises and agrees to pay to the order of the City of Redwood City, or holder ("Lender"), at 1017 Middlefield Road, Redwood City, CA 94063, or such other place as Lender may from time to time designate by written notice to Borrower, in lawful money of the United States of America, the principal sum of Dollars ($ ), with interest at the rate of percent ( %) per year from , 2015 (calculated on the basis of a 360-day year) as set forth in this Note. 1. Repayment. Unless this Loan is a Rent Stabilization Program Loan, in which case Borrower's repayment obligations under this Note shall be governed by the Rent Stabilization Program Loan Provisions of Section 3 of the Loan Agreement, Borrower will pay to Lender the principal amount of this Note, and accrued interest, as follows: Borrower will make an initial payment of interest only on the first day of the first month after the date of this Note, covering interest accrued on this Note from the date of this Note to the end of the month. After that, Borrower will make sixty (60) equal monthly installments of principal and interest, which will be in the amount of $ each, and will be due on the first day of the second month after the date hereof and the first day of each succeeding month after that. The final payment of this Note, which will be in an amount equal to the entire outstanding principal balance of this Note, together with all accrued and unpaid interest, will be due on ("Maturity Date"). 2. Loan Agreement. This Loan is evidenced by this Note and that certain Loan Agreement(the "Loan Agreement") of even date, executed by Borrower and Lender. This Note is secured by that certain Deed of Trust (the "Deed of Trust") of even date, executed by Borrower and recorded against the Property (defined below) in the Official Records of San Mateo County. In addition to securing Borrower's obligation to repay this Note, the Deed of Trust secures Borrower's obligations set forth in the Deed of Trust and in the Loan Agreement. 3. Purpose of Loan. Lender has provided a loan in the principal amount of this Note (the "Loan") to Borrower pursuant to Borrower's participation in Lender's Fire Safety First Pilot ATTY/RESO.3085/CC RESO-RWC FIRE SAFETY FIRST PILOT PROGRAM ATTACHMENT B PROMISSORY NOTE REV:05-11-15 VR Page 1 of 4