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C. Beneficiary and Trustor entered into that certain Affordable Housing Restrictive <br />Covenants Agreement, dated as of the Effective Date and recorded in the Official <br />Records of San Mateo County substantially concurrently herewith (the "Regulatory <br />Agreement"). <br />D. Pursuant to the Regulatory Agreement, Trustor is obligated to, among other things, <br />make the Affordable Units available to households earning no more than 80% of <br />Area Median Income ("AMI") for San Mateo County ("County"). <br />E. The Regulatory Agreement also provides (among other provisions) that: (i) Trustor <br />is obligated to notify Beneficiary of Trustor's intent to sell the Property and (ii) <br />Beneficiary has an option to purchase the Property under the Regulatory <br />Agreement. <br />NOW, THEREFORE, to secure the full and timely performance by Trustor of Secured <br />Obligations (defined in Section 2.3 below), it is agreed as follows: <br />ARTICLE 1 <br />DEFINITIONS <br />Section 1.1 Definitions. In addition to the terms defined elsewhere in this Deed of Trust, <br />the following terms have the following meanings in this Deed of Trust: <br />(a) "City Documents" means this Deed of Trust, the Regulatory Agreement, the <br />Irrevocable Offer to Dedicate, the Land Donation Agreement, and any other debt, loan or security <br />instruments between Trustor and the Beneficiary relating to the Property. <br />(b) "Irrevocable Offer to Dedicate" means that certain Irrevocable Offer to Dedicate <br />between Trustor and Beneficiary, recorded in the Official Records against the Developer's fee <br />interest of the Property as Document No. , recorded on <br />(c) "Regulatory Agreement" means that certain Regulatory Agreement and <br />Declaration of Restrictive Covenants that will be recorded in the Official Records against the <br />Developer's fee interest of the Property upon the Close of Escrow. <br />ARTICLE 2 <br />AGREEMENT AND SECURITY <br />Section 2.1 Incorporation by Reference. The recitals and the Regulatory Agreement are <br />incorporated herein by this reference. <br />Section 2.2 Grant In Trust. Trustor, in consideration of the promises herein recited and <br />the trust herein created, hereby irrevocably and unconditionally grants, transfers, conveys and <br />assigns to Trustee, in trust for the benefit of Beneficiary, with power of sale, all estate, right title <br />and interest which Trustor now has or may later acquire in and to the Property, described in the <br />attached Exhibit A, together with all of the following: <br />ATTY/AGR/2025.084/920 SHASTA AFFORDABLE HOUSING LAND DONATION AGREEMENT <br />REV: 10-16-25 VR <br />Exhibit H - 2 <br />