RecDoc2025-059266 CDBG Loand Documents- David H. Menche

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PROMISSORY NOTE Secured By Deed of Trust City of Redwood City Home Rehabilitation Loan (CDBG Funds) Principal Amount: $74,586 Borrower: David H. Menche Maturity Date: October 24, 2030 Rehabilitation Loan. Date of Note: October 24, 2025 Lender: City of Redwood City, a charter city and municipal corporation of the State of California Interest Rate: Zero Percent (0%) FOR VALUE RECEIVED, the undersigned David H. Menche ("Borrower"), promises to pay to the City of Redwood City, a charter city and municipal corporation of the State of California (the "City" or "Lender") at 1017 Middlefield Road, Redwood City, California 94063 or such place as the Lender may, from time to time, designate by written notice to the Borrower, the principal sum of Seventy- Four Thousand Five Hundred Eighty -Six Dollars ($74,586) (the "Loan"), together with any accrued interest, if applicable, as set forth in this Promissory Note. This Promissory Note (the "Promissory Note") is made and given pursuant to that certain Home Rehabilitation Loan Agreement between the City and Borrower, dated October , 2025 (the "Rehabilitation Loan Agreement"). The Rehabilitation Loan Agreement is incorporated herein by this reference. All initially capitalized terms used but not defined herein shall have the meanings given to them in the Rehabilitation Loan Agreement. 2. Purpose of Loan. Borrower is the owner of the Property located at 2757 Bristol Way Redwood City, California (the "Property"), which is improved with a single-family home that serves as Borrower's principal residence. The purpose of the Loan is to provide financial assistance to Borrower, as a low or moderate income household, to finance the rehabilitation of the home on the Property. 3. Securily. Payment of this Promissory Note is secured by that certain Deed of Trust and Security Agreement with Assignment of Rents (the "Deed of Trust") executed by Borrower as Trustor in favor of Lender as Beneficiary on even date with this Promissory Note and recorded against the Property in the Official Records of the County of San Mateo. REV: 10-01-25 LF ATTY/AGR.2025.253/Habitat for Humanity (Client: David Menche) (2757 Bristol Way - Habitat Promissory Note) (Page 1 of 3)