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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 become due and <br />payable. Consent to one transaction of this type will not constitute a waiver <br />of the right to require consent to future or successive transactions. <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 and payable, at Payee's option, in full upon the <br />sale or transfer of a majority interest in Payor or it assignee. <br /> <br />Principal is payable in lawful money of the United States of America. 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 will 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 Cor~ra~s general partner <br /> <br /> Title: F~' ,-~/~t,~ C f c~ <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/Agr/Agr.083 <br />121002 19 <br /> <br /> <br />