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RecDoc 2017-031307
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RecDoc 2017-031307
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5/3/2017 10:16:42 AM
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5/3/2017 10:16:20 AM
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Recorded Docs
Recorded Docs - Type
Agreement
Subject
Redwood City CDBG Loan Mental Health Assoc
Doc Num
2017-031307
Rec Date
4/11/2017
APN
060-265-050, 060-265-060, 060-265-070
Address
Waverly Place Apts
Parties
Mental Health Association of San Mateo Co.
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a. The payment deferral period set forth in Section 3(a) of the First Promissory Note <br />is hereby amended from thirty (30) years to fifty-five (55) years from Project <br />Completion; <br />b. The term set forth in Section 4 of the First Promissory Note is hereby amended <br />from thirty (30) to fifty-five (55) years from Project Completion; <br />c. The payment deferral period set forth in Section 3(a) of the Second Promissory <br />Note is hereby amended from thirty (30) years to fifty-five (55) years from Project <br />Completion; <br />d. The term set forth in Section 4 of the Second Promissory Note is hereby amended <br />from thirty (30) to fifty-five (55) years from Project Completion; <br />e. The term set forth in the Affordability Covenant is hereby amended from fifteen <br />(15) years to (5 5) years from Project Completion; <br />(ii) the Deed of Trust is hereby amended to state that the Deed of Trust is for the purpose <br />of securing 1. Performance of all the terms of that certain Funding Agreement by and between <br />Trustor and City, dated July 26, 2013, as amended from time to time, and each agreement of <br />Trustor incorporated by reference or contained therein. 2. Payment of the indebtedness evidenced <br />by that certain Promissory Note, dated August 28, 2013, and any extension or renewal thereof, in <br />the principal sum of $400,000 executed by Trustor in favor of Beneficiary or order. 3. Payment of <br />the indebtedness evidenced by that certain Additional Promissory Note, dated October 30, 2015, <br />and any extension or renewal thereof, in the principal sum of $200,000, executed by Trustor in <br />favor of Beneficiary or order. 4. Payment of such further sums as the then record owner of said <br />property hereafter may borrow from Beneficiary, when evidenced by another note (or notes) <br />reciting it is so secured.; <br />(iii) copies of all notices to the Borrower under the City Loan Documents shall also be sent <br />to the Borrower's limited partner at "Wincopin Circle LLLP, c/o Enterprise Community Asset <br />Management, Inc., 70 Corporate Center, 11000 Broken Land Parkway, Suite 700, Columbia, <br />Maryland 21044, Attention: Asset Management"; <br />ATTY/AGR/2017.075/MHA WAVERLY PLACE — ASSIGNMENT AGREEMENT <br />REV: 04-07-1715 <br />Page 4 of 8 <br />
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