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DEED OF TRUST
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<br />right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lenders right otherwise to demand
<br />strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing
<br />between Lender and Trustor, shall constitute a waiver of any of Lenders rights or of any of Trustor's obligations as to any future transactions.
<br />Whenever the consent of Lender is required under this Deed of Trust, the granting of such consent by Lender in any instance shall not
<br />constitute continuing consent to subsequent instances where such consent Is required and in all cases such consent may be granted or
<br />withheld in the sole discretion of Lender.
<br />Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any
<br />circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If feasible,
<br />the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so
<br />modified. it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceability
<br />of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest, this Deed of Trust shall be
<br />binding upon and Inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person
<br />other than Trustor, Lender, without notice to Trustor, may deal with Trustors successors with reference to this Deed of Trust and the
<br />Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of Trust or liability under the
<br />Indebtedness.
<br />Time Is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />Waive Jury. To the extent permitted by applicable law, all parties to this Deed of Trust hereby waive the right to any jury trial in any
<br />action, proceeding, or counterclaim brought by any party against any other party.
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Dead of Trust. Unless specifically
<br />stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and tens
<br />"ad in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words and terns not otherwise
<br />defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary" means Boston Private Bank & Trust Company, and its successors and assigns
<br />Borrower. The word "Borrower" means HIP Housing Development Corporation, a California Non-profit public benefit corporation and
<br />includes all co-signers and co -makers signing the Note and all their successors and assigns.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without limitation all
<br />assignment and secunty interest provisions relating to the Personal Property and Rents.
<br />Default The word "Default" means the Default set forth in this Deed of Trust in the section titled "Default".
<br />Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances
<br />relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response,
<br />Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, at seq. ("CERCLA"), the Superfund Amendments and
<br />Reauthorization Act of 1986, Pub. L. No. 99.499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, at seq., the
<br />Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, at seq., Chapters 6.5 through 7.7 of Division 20 of the California Health
<br />and Safety Code, Section 25100, at seq., or other applicable state or federal laws, miss, or regulations adopted pursuant thereto.
<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of default
<br />section of this Deed of Trust.
<br />Guarantor. The word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the Indebtedness.
<br />Guaranty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a guaranty of all or part of the
<br />Note.
<br />Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical,
<br />chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when improperly
<br />used, treated, stared, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are used
<br />in their very broadest sense and include without limitation any and all hazardous or toxic substances, materials or waste as defined by or
<br />listed under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum and petroleum by-
<br />products or any fraction thereof and asbestos.
<br />Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on the
<br />Real Property, facilities, additions, replacements and other construction on the Real Property.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, casts and expenses payable under the Note or
<br />Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related
<br />Documents and any amounts expended or advanced by Lender to discharge Trustor's obligations or expenses incurred by Trustee or Lender
<br />to enforce Trustor's obligations under this Deed of Trust, together with interest on such amounts as provided in this Deed of Trust.
<br />Lender. The word "Lender" means Boston Private Bank & Trust Company, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated June 27, 2017, In the original principal amount Of $1,000,000.00
<br />from Trustor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for
<br />the promissory note or agreement- NOTICE TO TRUSTOR: THE NOTE CONTAINS A VARIABLE INTEREST RATE.
<br />Personal Property. The words "Personal Property' mean all equipment, fixtures, and other articles of personal property now or hereafter
<br />owned by Trustor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and addhions to, all
<br />replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance
<br />Proceeds and refunds of premiums) from any sale or other disposition of the Property. However, should the Real Property be located In an
<br />area designated by the Administrator of the Federal Emergency Management Agency as a special flood hazard area, Personal Property is
<br />limited to only those items specifically covered (currently or hereafter) by Coverage A of the standard flood insurance policy issued in
<br />accordance with the National Flood Insurance Program or under equivalent coverage similarly issued by a private insurer to satisfy the
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