Res98 RD-98-09 - Laserfiche WebLink

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June j~, 1~8 Union Bank of California, N.A. Community Development Finance Department 200 Pdngle Avenue, Suite 200 Walnut Creek, CA 945°~6 Attention: Mr. Jim Francis Re: Developer Note dated as of June 18, 1996, executed by Mazes Court Associates, a California limited partnership, in favor of the Redevelopment Agency of the City of Redwood City Disposition and Development Agreement by and among Mazes Court Associates, a California limited partnership, the Redevelopment Agency of the City of Redwood City and J.H.R. Trust. u/tM Octob~' 2, 1969 Deed of Trust, executed by Mazes Court Associates, a California Limited Partnership, fo~ the benefit of the Redevelopment Agency of the City of Redwood City Affon:lable H .ou$ing Covenant dated June 18, 199~ executed by Mez, es Cou~ Associates for the benefit of the Redevelopment _Aqen~ of the City of Redv~od .C~y Ladies and Gentlemen: The undemigned, The Redevelopment Agency of the Cit7 of Redwood City (the "Governmental Body") and Mezes Court Associates. a California Limited Partnership ("Borrowe~). have heretofore entered into that certain (a) Disposition and Development Agreement (the "DDA") relating to the acquisition and development of the Property and the construction of the Improvements; in a~.,u~dance with the te~ms and corlclitions of the DDA, Borrower pu~;hased the Pmpe~'y from Governmental Body and Governmental Body made to Borrower a $1,445,000 loan ("Governmental Body Loan") to cove~ the pu~'chase price payable by Borrower in connection with Borrower's acquisition of the Property, which Governmental Body Loan is evidenced by that certain $1,445.000 Oevelope¢ Note dated June 18, 1996, made payable by Borrower tO the order of Governmental Body, and secured by, among other things, that certain Deed of Trust. Assignment of Rents. Secudty Agreemenll and Fixture Filing (the "Governmental Body Deed of Trust") dated June 18. 1996, executed by Bon-owef' for the benefit of Governmental