RecDoc 2021-134902 612 Jefferson Ave. Performance Deed of Trust

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TO HAVE AND TO HOLD the Security, together with acquittances, to the Trustee, its successors and assigns forever; TO SECURE to the City the payment of the sums, and the performance of the covenants and agreements of the Trustor evidenced by (i) that certain unrecorded Affordable Housing Loan Agreement executed by and between Trustor and City, dated as of the date hereof (the "Loan Agreement") pursuant to which City agreed to provide funds to Trustor in the amount of Eight Hundred Ninety -Eight Thousand Five Hundred and Three Dollars ($898,503) (the "Loan"), (ii) that certain unrecorded promissory note dated as of the date hereof (the "Note"); and (iii) that certain HOME Program Affordable Housing Regulatory Agreement and Declaration of Restrictive Covenants ("HOME Program Regulatory Agreement") dated as of the date hereof, executed by and between Trustor and City, and recorded substantially concurrently herewith, pursuant to which Developer agreed to sell no less than six (6) and no more than eleven (11) of the residential units developed on the Property to Eligible Households at Affordable Price (as defined in the Regulatory Agreement). The Loan Agreement, the Note, and the Regulatory Agreement are incorporated herein by this reference; and TO SECURE the payment of all other sums, with interest thereon, including, without limitation, repayment of the Loan balance, pursuant to 24 CFR 92.252, advanced in accordance herewith to protect the security of this Deed of Trust and the performance of the covenants and agreements of Trustor herein contained. NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is agreed as follows: 1. Trustor's Estate. Trustor represents and warrants that Trustor is lawfully seized of the estate hereby conveyed, has the right to grant and convey the Security, and that other than this Deed of Trust, the Security is encumbered only by such prior liens and encumbrances as approved by City. Trustor agrees to warrant and defend generally the title to the Security against all claims and demands, subject to any declarations, easements or restrictions listed in a schedule of exceptions to coverage in any title insurance policy insuring the City's interest in the Security, and Trustor shall pay all costs and expenses, including cost of evidence of title and attorneys' fees in a reasonable sum, in any such action or proceeding in which City or Trustee may appear, and in any suit brought by City to foreclose this Deed of Trust. 2. Loam Aereement, Note, and HOME Proa ram Resdatory Agreement. Trustor will perform all of Trustor's covenants and obligations under the Loan Agreement, the Note, the HOME Program Regulatory Agreement, and this Deed of Trust. 3. Charges and Liens. Trustor will promptly pay when due, the interest, principal, and all other charges accruing under any deed of trust, mortgage, or other instrument encumbering the Property, and will pay when due directly to the payee thereof all taxes, assessments and other charges, fines and impositions affecting the Property. Upon request by the City, Trustor will promptly furnish to the City copies of all notices of amounts due described in this Section and evidence of payment of such amounts. Trustor shall pay when due each obligation secured by or reducible to a lien, charge or encumbrance which now does or later may encumber or appear to Deed of Trust Securing Performance 1619\0119026818.1 SF #4828-5596-4108 v3 REV: 05-19-2021 SK