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D. The Loan Modification Agreement amends that certain unrecorded Agreement
<br />with Housing Association for the Needy and Dispossessed, Inc. (HAND) A Non -Profit CHDO
<br />for Funding to Rehabilitate Redwood Oaks Apartments at 330-340 Redwood Avenue, dated as of
<br />September 12, 2000, and executed by and between HIP and City, as amended by that certain
<br />unrecorded Amended Agreement with Housing Association for the Needy and Dispossessed,
<br />Inc., (HAND) to Rehabilitate Redwood Oaks Apartments at 330-340 Redwood Avenue, dated as
<br />of January 15, 2002 and executed by and between HIP and City (as so amended, the "Original
<br />HOME Loan Agreement"). The Original HOME Loan Agreement as modified by the Loan
<br />Modification Agreement is referred to herein as the "Loan Agreement".
<br />E. Trustor and Beneficiary have also executed an Affordable Housing Regulatory
<br />Agreement and Declaration of Restrictive Covenants (the "Regulatory Agreement') dated as of
<br />the date hereof, and which will be recorded in the Official Records substantially concurrently
<br />herewith. Among other provisions, the Regulatory Agreement requires the residential units in
<br />the Project to be rented to Eligible Households at Affordable Rents (as defined in the Regulatory
<br />Agreement).
<br />F. As a condition precedent to Beneficiary's agreement to modify certain terms of
<br />the original financing, Beneficiary has required that Trustor enter into this Deed of Trust and
<br />grant to Trustee for the benefit of Beneficiary, a lien and security interest in the Property
<br />(defined below) to secure repayment of the Note and performance of Trustor's obligations under
<br />the Loan Documents (defined below).
<br />NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of
<br />which are hereby acknowledged, it is agreed as follows.
<br />1. Grant in Trust. Inconsideration of the foregoing and for the purpose of securing payment
<br />and performance of the Secured Obligations defined and described in Section 2, Trustor hereby
<br />irrevocably and unconditionally grants, conveys, transfers and assigns to Trustee, in trust for the
<br />benefit of Beneficiary, with power of sale and right of entry and possession, all estate, right, title
<br />and interest which Trustor now has or may later acquire in and to the Land, and all of the
<br />following, whether presently owned or hereafter acquired:
<br />a. All buildings, structures, and improvements, now or hereafter located or
<br />constructed on the Land ("Improvements");
<br />b. All appurtenances, easements, rights of way, pipes, transmission lines or wires
<br />and other rights used in connection with the Land or the Improvements or as a means of access
<br />thereto, whether now or hereafter owned or constructed or placed upon or in the Land or
<br />Improvements and all existing and future privileges, rights, franchises and tenements of the
<br />Land, including all minerals, oils, gas and other commercially valuable substances which may be
<br />in, under or produced from any part of the Land, and all water rights, rights of way, gores or
<br />strips of land, and any land lying in the streets, ways, and alleys, open or proposed, in front of or
<br />adjoining the Land and Improvements (collectively, "Appurtenances");
<br />Page 2 of 25
<br />REV: 05-29-19 VR
<br />ATTY/AGR.2019.151 /Redwood Oaks Associates 11 LP - A&R Deed of Trust
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