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RECORDING REQUESTED BY <br />North American Title Company <br />54605 -1588367 -SHS <br />RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: <br />City Of Redwood City <br />1017 Middlefield Road <br />Redwood City, Ca 94063 <br />Attn: City Clerk <br />EXEMPT FROM RECORDING FEES PER <br />GOVERNMENT CODE §27383 <br />APN: 053-271-490-4 <br />*This document is signed in counterpart <br />2019-047032 <br />9:45 am 06/19/19 AT AP MT R6 Fee: NO FEE <br />Count of Pages 12 <br />Recorded in Official Records <br />County of San Mateo <br />Mark Church <br />Assessor -County Clerk -Recorder <br />11111111111111111111111111111111111111111111111111111 II <br />*$ R 0 0 0 2 7 1 5 1 1 3$* <br />(SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE) <br />ASSIGNMENT, ASSUMPTION, LOAN MODIFICATION AGREEMENT <br />Exempt from fee per GC 27388.1(a)(2); recorded AND RELEASE OF ESTOPPEL <br />concurrently "in connection with" a transfer <br />subject to the imposition of documentary (Redwood Oaks) <br />transfer tax (DTT).' <br />This Assignment, Assumption, Loan Modification Agreement and Release of Estoppel (this <br />"Agreement"), dated as of May 1, 2019, is executed by and between Redwood Oaks Associates, a <br />California limited partnership ("Assignor") (as successor in interest to HIP Housing Development <br />Corporation, a California nonprofit public benefit corporation formerly known as Housing <br />Association for the Needy and Dispossessed, Inc. ("HHDC")), Redwood Oaks Associates II LP, a <br />California limited partnership ("Assignee"), and the City of Redwood City, a charter city and <br />municipal corporation ("City"), with reference to the following facts: <br />A. For the purpose of financing the rehabilitation of an affordable housing development <br />located at 330 - 340 Redwood Avenue, Redwood City, California (as more particularly described in <br />Exhibit A attached hereto and incorporated herein, the "Property"), the City made a loan to HHDC <br />in the principal amount of $241,400.22 (the "Original HOME Loan") pursuant to the following <br />documents: <br />(i) that certain unrecorded Agreement with Housing Association for the Needy and <br />Dispossessed, hie., (HAND) A Non -Profit CHDO for Funding to Rehabilitate Redwood Oaks <br />Apartments at 330-340 Redwood Avenue, dated as of September 12, 2000, and executed by <br />and between HDDC and City (the "Year 2000 HOME Loan Agreement'), as amended by <br />that certain unrecorded Amended Agreement with Housing Association for the Needy and <br />Dispossessed, Inc., (HAND) to Rehabilitate Redwood Oaks Apartments at 330-340 Redwood <br />Avenue, dated as of January 15, 2002 and executed by and between HHDC and City (as so <br />amended, the "Original HOME Loan Agreement"); <br />(ii) that certain unrecorded Promissory Note dated January 14, 2002, executed by <br />HHDC for the benefit of City (the "Original Note'); and <br />(iii) a Short Form Deed of Trust and Assignment of Rents executed by HHDC as <br />trustor for the benefit of City, dated January 14, 2002, and recorded on February 7, 2002 as <br />Insumnent No. 2002-023686 in the Official Records of San Mateo County ("Original Deed <br />Page 1 of 12 <br />ATTY/AGR/2019.152 REDWOOD OAKS ASSOCIATES II LP — ASSIGNMENT AND LOAN MODIFICATION AGREEMENT <br />REV: 05-30-19 VR <br />