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RECORDING REQUESTED BY:
<br />County of San Mateo Department of Housing
<br />The undersigned Title Company !hereby certifies that the
<br />within instrument is a true and complete copy of theoriginal
<br />thereof, which was recorded in the official records of the
<br />County of -'�Ctn I'1'lc,4-e,0 on J uhf 2`i, 7v17 under
<br />Recorders series No: -�'() 17
<br />_ U SSZ7'�
<br />This Deed of Trust, made this 2---4' day 2017 between
<br />HIP Housing Development Corporation herein called "Trustor," whose mailing address is
<br />Human Investment Project
<br />800 S Claremont Street, #210
<br />San Mateo, CA 94402
<br />And AMERINATIONAL Community Services, Inc herein called "Trustee", and
<br />County of San Mateo Department of Housing herein called "Beneficiary,"
<br />Witnesseth: That Trustor IRREVOCABLY GRANTS,TRANSFERS, AND ASSIGNS TO TRUSTEE INTRUST, WITH POWER OF SALE, that
<br />property in County of San Mateo, State of California, described in "Exhibit A" attached hereto (the "Property").
<br />This Deed of Trust shall only be subordinate to the Deed or Deeds of Trust(s) in connection with the Permanent
<br />Loans) anticipated for the Property.
<br />Except for leases to tenants and except as otherwise provided in the Agreement (as defined below), in the
<br />event the Property or any part thereof, or any interest therein is sold, agreed to be sold, conveyed or alienated
<br />by the Trustor, or by the operation of law or otherwise, all obligations secured by this instrument, Irrespective
<br />of the maturity date expressed therein, at the option of the holder hereof, and without demand or notice shall
<br />became due and payable.
<br />TOGETHER with the rents, issues and profits thereof, SUBJECT HOWEVER, to the right, power and authority given to
<br />and conferred upon Beneficiary by paragraph 10 of the provisions incorporated herein by reference to collect
<br />and apply such rents, issues and profits, for the purpose of securing 1) Performance of each agreement of
<br />Trustor incorporated by reference or contained herein; 2) Payment of the indebtedness evidenced by one
<br />Promissory Note of even date herewith, and any extension or renewal thereof, in the principal amount of
<br />$600,000 (Affordable Rental Acquisition and Preservation Program) executed by HIP Housing Development
<br />Corporation in favor of Beneficiary; 3) Payment of such further sums as the then record owner of said
<br />property hereinafter may borrow from Beneficiary, when evidenced by another Note (or Notes) reciting it so
<br />1512 Stafford Street, Redwood City, CA
<br />ARAPP:$600p00
<br />Page 1
<br />North American Title Company
<br />WHEN RECORDED, MAIL TO:
<br />a
<br />County of San Mateo Department of Housing
<br />BY:
<br />264 Harbor Blvd., Bldg. A
<br />Annette Ross
<br />Belmont, Ca. 94002
<br />Attn: Raymond Hodges
<br />PONY DOH 209
<br />Exemptfrom Recording Fees pursuant to
<br />Section 27383 of the Government Code
<br />zt�-j
<br />(This Space for Recorder's Use Only)
<br />DEED OF TRUST AND ASSIGNMENT OF RENTS
<br />This Deed of Trust, made this 2---4' day 2017 between
<br />HIP Housing Development Corporation herein called "Trustor," whose mailing address is
<br />Human Investment Project
<br />800 S Claremont Street, #210
<br />San Mateo, CA 94402
<br />And AMERINATIONAL Community Services, Inc herein called "Trustee", and
<br />County of San Mateo Department of Housing herein called "Beneficiary,"
<br />Witnesseth: That Trustor IRREVOCABLY GRANTS,TRANSFERS, AND ASSIGNS TO TRUSTEE INTRUST, WITH POWER OF SALE, that
<br />property in County of San Mateo, State of California, described in "Exhibit A" attached hereto (the "Property").
<br />This Deed of Trust shall only be subordinate to the Deed or Deeds of Trust(s) in connection with the Permanent
<br />Loans) anticipated for the Property.
<br />Except for leases to tenants and except as otherwise provided in the Agreement (as defined below), in the
<br />event the Property or any part thereof, or any interest therein is sold, agreed to be sold, conveyed or alienated
<br />by the Trustor, or by the operation of law or otherwise, all obligations secured by this instrument, Irrespective
<br />of the maturity date expressed therein, at the option of the holder hereof, and without demand or notice shall
<br />became due and payable.
<br />TOGETHER with the rents, issues and profits thereof, SUBJECT HOWEVER, to the right, power and authority given to
<br />and conferred upon Beneficiary by paragraph 10 of the provisions incorporated herein by reference to collect
<br />and apply such rents, issues and profits, for the purpose of securing 1) Performance of each agreement of
<br />Trustor incorporated by reference or contained herein; 2) Payment of the indebtedness evidenced by one
<br />Promissory Note of even date herewith, and any extension or renewal thereof, in the principal amount of
<br />$600,000 (Affordable Rental Acquisition and Preservation Program) executed by HIP Housing Development
<br />Corporation in favor of Beneficiary; 3) Payment of such further sums as the then record owner of said
<br />property hereinafter may borrow from Beneficiary, when evidenced by another Note (or Notes) reciting it so
<br />1512 Stafford Street, Redwood City, CA
<br />ARAPP:$600p00
<br />Page 1
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