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Should the undersigned agree to or actually sell, convey, transfer, or <br /> dispose of, or encumber the Property, or any part or portion of it, or any <br /> interest in it, without first obtaining the written consent of the Payee, at the <br /> option of Payee, the entire amount of .the loan. shall bec.o, me due and <br /> payable. Consent t.o one transaction of this type wi. II not const;.tute a waiver <br /> of the right to requ~rs consent to future or successive transact,ons. <br /> <br /> This Note or any portion of it may not be prepaid unless agreed upon, at <br /> Payee's sole and entire discretion, in writing by Payee. <br /> <br /> This Note shall also be. due a. nd paya. ble, at Paye. e's o.ption, in full upon the <br /> sale or transfer of a majority interest ~n Payor or ,t ass,gnee. <br /> <br /> Principal is payable in lawful money of the United States of Amedca. In event of <br /> default, Payor agrees to pay such sum as a Court of competent jurisdiction may <br /> fix as costs and attorney's fees. <br /> <br /> Upon maturity of this Note under its terms or due to acceleration of this Note <br /> upon sale or default, the City shall be paid back its principal balance. <br /> <br /> Payor acknowledges that units within the Property wili not be converted to <br /> condominiums within the first ten years after rehabilitation of the Property by <br /> Payor. In the event of a conversion of the Property, or any part thereof, to <br /> condominiums, the entire Note shall be due and payable. <br /> <br /> MP REDWOOD COURT ASSOCIATES <br /> By: Mid-Peninsula Coalition Monte Vista <br /> Terrace Corooration. its general partner <br /> <br /> DO NOT DESTROY THIS NOTE. WHEN THIS NOTE IS FULLY PAID, IT <br /> MUST BE SURRENDERED TO THE TRUSTEE ALONG WITH THE ORIGINAL <br /> DEED OF TRUST FOR CANCELLATION AND ISSUANCE OF A <br /> RECONVEYANCE. <br /> <br />F:Atty/Ag r/Ag r.083 <br />121002 19 <br /> <br /> <br />