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APN:052-112-120
<br />SHORT FORM DEED OF TRUST AND ASSIGNMENT OF RENTS
<br />THIS DEED OF TRUST, made this eg'71�7 of T"'�11 .2017 between HIP HOUSINr;
<br />DEVELOPMENT CORPORATION, A CALIFORNIA NON PROFIT PUBLIC BENEFIT
<br />CORPORATION, herein called TRUSTOR, whose address is 800 South Claremont Street, #210, San
<br />Mateo, CA 94402, North American Title Company, A CALIFORNIA CORPORATION, herein called
<br />TRUSTEE, and CITY OF REDWOOD CITY, A MUNICIPAL CORPORATION, herein called
<br />BENEFICIARY, WITNESSETH: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND
<br />ASSIGNS to TRUSTEE IN TRUST, WITH POWER OF SALE, that property (the "Property") in San
<br />Mateo County, California, described as:
<br />SHORT FORM DEED OF TRUST EXHIBIT "A"
<br />TOGETHER W ITH the rents, issues and profits thereof, SUBJECT, HOWEVER, to the right, power and
<br />authority given to and conferred upon Beneficiary by paragraph (10) of the provisions incorporated
<br />herein by reference to collect and apply such rents, issues and profits.
<br />For the Purpose of Securing: 1. Performance of all of the terms of the Agreement with HIP Housing
<br />Development Corporation for Funds to Acquire 1512 Stafford Avenue, by and between Trustor and
<br />Beneficiary, and each agreement of Trustor incorporated by reference or contained therein (the
<br />"Agreement"). 2. Payment of the indebtedness evidenced by one promissory note of even date
<br />herewith, and any extension or renewal thereof, in the principal sum of $1,577,750.00 executed by
<br />Trustor in favor of Beneficiary or order. 3. Payment of such further sums as the then record owner of
<br />said property hereafter may borrow from Beneficiary, when evidenced by another note (or notes)
<br />reciting it is so secured.
<br />INITIALS )V
<br />ATTY/AGR/2017.14S.3/ STAFFORD FUNDING AGREEMENT -SHORT TERM DEED OF TRUST & ASSIGNM ENT OF RENTS
<br />REV: 06-21-1715
<br />Page 1 of 7
<br />The undersigned Title Company hereby certifies that the
<br />within instrument is a true and complete copy of the original
<br />thereof, which was recorded in the official records of the
<br />County of Son h'1R4--�o on ju e_ Z712017 under
<br />Recorders Series No:
<br />RECORDING REQUESTED BY.,
<br />CITY OF REDWOOD CITY
<br />North American Title Corn panY
<br />When Recorded Mail To:
<br />BY- c wt
<br />CITY OF REDWOOD CITY
<br />City Clerk
<br />Annette Ross
<br />1017 Middlefield Road
<br />Redwood City, CA 94063
<br />Mg80GE IS L NE FOR RECORDER'S USE Exempt from Recording Fees under Govt Code Section 27383
<br />APN:052-112-120
<br />SHORT FORM DEED OF TRUST AND ASSIGNMENT OF RENTS
<br />THIS DEED OF TRUST, made this eg'71�7 of T"'�11 .2017 between HIP HOUSINr;
<br />DEVELOPMENT CORPORATION, A CALIFORNIA NON PROFIT PUBLIC BENEFIT
<br />CORPORATION, herein called TRUSTOR, whose address is 800 South Claremont Street, #210, San
<br />Mateo, CA 94402, North American Title Company, A CALIFORNIA CORPORATION, herein called
<br />TRUSTEE, and CITY OF REDWOOD CITY, A MUNICIPAL CORPORATION, herein called
<br />BENEFICIARY, WITNESSETH: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND
<br />ASSIGNS to TRUSTEE IN TRUST, WITH POWER OF SALE, that property (the "Property") in San
<br />Mateo County, California, described as:
<br />SHORT FORM DEED OF TRUST EXHIBIT "A"
<br />TOGETHER W ITH the rents, issues and profits thereof, SUBJECT, HOWEVER, to the right, power and
<br />authority given to and conferred upon Beneficiary by paragraph (10) of the provisions incorporated
<br />herein by reference to collect and apply such rents, issues and profits.
<br />For the Purpose of Securing: 1. Performance of all of the terms of the Agreement with HIP Housing
<br />Development Corporation for Funds to Acquire 1512 Stafford Avenue, by and between Trustor and
<br />Beneficiary, and each agreement of Trustor incorporated by reference or contained therein (the
<br />"Agreement"). 2. Payment of the indebtedness evidenced by one promissory note of even date
<br />herewith, and any extension or renewal thereof, in the principal sum of $1,577,750.00 executed by
<br />Trustor in favor of Beneficiary or order. 3. Payment of such further sums as the then record owner of
<br />said property hereafter may borrow from Beneficiary, when evidenced by another note (or notes)
<br />reciting it is so secured.
<br />INITIALS )V
<br />ATTY/AGR/2017.14S.3/ STAFFORD FUNDING AGREEMENT -SHORT TERM DEED OF TRUST & ASSIGNM ENT OF RENTS
<br />REV: 06-21-1715
<br />Page 1 of 7
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