RecDoc 95-058926 - Laserfiche WebLink

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COMPLIMENTARY RECORDING REQUIRED PURSUANT TO GOVERNMENT CODE SECTION 27383 When Recorded Mail To: City of Redwood City Housing and Redevelopment Division P.0 Box 391 Redwood City, CA 94064 7202 I1111111111111111IIIIIIIIIIIIIIIIIIIIIIIIIIIIII /IIIIIIII /III OFFICIAL RECORDS OF SAN MATEO COUNTY ASSESSOR -COUNTY CLERK -RECORDER WARREN SLOCUM Recorded at Request of FIDELITY NATIONAL TITLE 95-058926 Recording Fee: 06/09/95 53 e14 PFALLS V V vl SPACE ABOVE THIS LINE FOR RECORDER'S USE SUBORDINATE DEED OF TRUST WITH POWER OF SALE r (� THIS SUBORDINATE DEED OF TRUST ("Security Instrument") is made on JUNE 5, 1995. The grantor is CARLOS RODAS AND CARMEN RODAS, HUSBAND AND WIFE, (31 ("Borrower"). The trustee is THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY, CD A REDEVELOPMENT AGENCY OF THE STATE OF CALIFORNIA, ("Trustee"). The beneficiary is 00 the Redevelopment Agency of the City of Redwood City, organized and existing under the State co of California, and whose address is 2010 Broadway, Suite 200, Redwood City, CA 94064, the ("Lender"T. Borrower owes Lender the principal sum of ELEVEN THOUSAND NINETY ONE AND NO/100THS - Dollars (U.S. Dollars $ 11,091.00) This debt is evidenced by Borrower's promissory note dated the same date as this Security Instrument ("Note"). The Note provides for monthly payment of the principal amount of the Note, until the entire principal amount is paid in full. The Note provides that the Principal, if not paid earlier, shall be due and payable on JULY 1, 2025, the "Maturity Date" of the Note The loan evidenced by the Note and secured by this Security Instrument (collectively sometimes referred to as the "Loan") is being made pursuant to a Disposition and Development Agreement between the Redevelopment Agency of the City of Redwood City and Butler Stellar Corporation, dated January 10, 1994 (the "Development Agreement"). The Borrower obtained a deed of trust loan (the 'First Deed of Trust Loan") from NORTH AMERICAN MORTGAGE COMPANY, the "Senior Lien Holder"), which loan is secured by a first deed of trust lien on the Property (the "First Deed of Trust"). The documents evidencing or securing the First Deed of Trust Loan are collectively referred to herein as the First Deed of Trust Loan Documents. 'The respective interests in the deed of trust are set forth in Addendum "A", attached hereto are incorporated by this reference.