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secured; 4) Performance of the terms and conditions of that certain "Agreement between the County of San
<br />Mateo Department of Housing and HIP Housing Development Corporation to Assist with 1512 Stafford Street,
<br />Redwood City, CA for the Period May 1, 2017 —June 30, 2019 (the "Agreement"), dated J WV1 ,2_1 2017,,
<br />approved by the County Board of Supervisors Resolution No. 075191, May 16, 2017. Any violation of said
<br />Agreement after notice and failure to cure within applicable cure periods, shall be grounds for a Declaration of
<br />Default, and Beneficiary may, at its option, demand full payment of any outstanding principal and interest due
<br />Beneficiary, under the Note secured by this Deed of Trust, and said Agreement.
<br />To protect the security of this Deed of Trust, Trustor agrees:
<br />(1) To keep said Property in good condition and repair; not to remove or demolish any building thereon; to
<br />complete or restore promptly and in good workmanlike manner any building which may be constructed,
<br />damaged or destroyed thereon and to pay when due all claims for labor performed and materials furnished
<br />therefor, to comply with all laws affecting said property or requiring any alterations or improvements to be
<br />made thereon; not to commit or permit waste thereof; not to commit, suffer or permit any act upon said
<br />property in violation of law; to cultivate, irrigate, fertilize, fumigate, prune and do all other acts which from the
<br />character of the Property may be reasonably necessary, the specific enumerations herein not excluding the
<br />general.
<br />(2) To provide, maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to
<br />Beneficiary. Notwithstanding anything contained in any of the documents evidencing the loan from Beneficiary
<br />to Trustor, unless Beneficiary and Trustor otherwise agree in writing, insurance proceeds shall be applied to
<br />restoration or repair of the Property damages, provided Beneficiary determines that such restoration or repair
<br />is economically feasible and there is no default continuing beyond the expiration of all applicable cure periods.
<br />If Beneficiary determines that such restoration or repair is not economically feasible or if a default exists after
<br />expiration of all applicable cure periods, the insurance proceeds, subject to the rights of senior lenders, shall be
<br />applied to the sums secured by this Deed of Trust, with the excess, if any, paid to Trustor. In the event funds for
<br />such work are insufficient, Beneficiary may, at its option, advance such additional funds as may be necessary to
<br />allow the Property to be repaired or restored, and may add the amount thereof to the principal balance of the
<br />Note hereby secured.
<br />(3) To appear in and defend any action or proceeding purporting to affect the security hereof or the rights
<br />or powers of Beneficiary or Trustee; and to pay all costs and expenses, including costs of evidence of title and
<br />attorney's fees in a reasonable sum. In any such action or proceeding in which Beneficiary or Trustee may
<br />appear, and in any suit brought by Beneficiary to foreclose this Deed.
<br />(4) To pay at least ten days before delinquency all taxes and assessments affecting said Property, including
<br />assessments on appurtenant water stock; when due, all encumbrances, charges and liens, with interest, on said
<br />Property or any part hereof, which appear to be prior or superior hereto; all costs, fees and expenses of this
<br />Trust.
<br />Should Trustor fail to make any payment or to do any act as herein provided, then Beneficiary or Trustee,
<br />but without obligation to do so and without notice to or demand upon Trustor and without releasing Trustor
<br />from any obligation hereof, may: make or do the same in such manner and to such extent as either may deem
<br />necessary to protect the security hereof, Beneficiary or Trustee being authorized to enter upon said Property
<br />for such purposes; appear in and defend any action or proceeding purporting to affect the security hereof or
<br />the rights or powers of Beneficiary or Trustee; pay purchase, contest or compromise any encumbrance charge
<br />or lien which in the judgment of either appears to be prior or superior hereto; and in exercising any such
<br />powers, pay necessary expenses, employ counsel and pay his reasonable fees.
<br />1512 Stafford Street, Redwood City, CA
<br />ARAPP: $600,000
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