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ATTACHMENT NO. 5 <br />Promissory Note <br />The Redevelopment Agency of the City of Redwood City (the <br />"Agency") hereby promises to pay to the Sequoia Station <br />Developers, Inc., a California corporation (the "Developer") the <br />total amount of the several sums advanced to the Agency on the <br />dates shown on Exhibit "A" attached hereto and made a part <br />hereof, in accordance with and subject to each and all of the <br />terms and conditions of that certain Disposition and Development <br />Agreement for Sequoia Station Project between the Agency and the <br />Developer executed , 1990 (the "Agreement"). <br />Each of such sums and the total amount of this Promissory <br />Note are secured by the Deed of Trust or Deeds of Trust executed <br />by the Agency in favor of the Developer as beneficiary, pursuant <br />to the Agreement. <br />This Promissory Note shall not bear interest except in the <br />situations and from the sources specified in subsections B and C <br />of Section 1009 of the Agreement. <br />This Promissory Note is not negotiable except in accordance <br />with Section 305 of the Agreement, or as an incident of an <br />assignment of the Agreement approved in writing by the Agency in <br />accordance with the terms of the Agreement. <br />Dated: 1990. Redevelopment Agency of the <br />City of Redwood City <br />By: <br />Attest: <br />Secretary <br />Executive Director <br />