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<br />RECORDATION REQUESTED BY:
<br />Boston Private Bank & Trust Company
<br />WHEN RECORDED MAIL TO;
<br />Boston Private Bank & Trust Company
<br />Attn: Credit Administration
<br />160 Bovet Road
<br />San Mateo, CA 94402-9955
<br />d-Wo1v5Z` l liZ— 17�
<br />The undersigned Title Company hereby certifies that the
<br />within instrument is a true and complete copy of the original
<br />thereof, which was recorded In the official records of the
<br />County ofonJul7e__ ;Z�,
<br />Z07under
<br />Recorders Series No: 2017— D SS `�4y Z
<br />North American Title Co pany
<br />BY:Sff
<br />Annette Ross
<br />ASSIGNMENT OF RENTS
<br />FOR RECORDER'S USE ONLY
<br />THIS ASSIGNMENT OF RENTS dated June 27, 2017, Is made and executed between HiP Housing
<br />Development Corporation, a California Non-profit public benefit corporation (referred to below as "Grantor")
<br />and Boston Private Bank & Trust Company, whose address Is 160 Bovet Road, San Mateo, CA 94402
<br />(referred to below as "Lender').
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security Interest in,
<br />and conveys to Lender all of Grantors right, title, and Interest in and to the Rents from the following
<br />described Property located in San Mateo County, State of California:
<br />Lot 8 In Block 7, as shown on that certain Map entitled "Lenolt, Redwood City, California;' which Map
<br />was filed in the Office of the Recorder of the County of San Mateo, State of California, on May 7, 1925, in
<br />Book 12 of Maps at Pages 30 and 31.
<br />The Property or Its address Is commonly known as 1512 Stafford Street, Redwood City, CA 94083, The
<br />Assessors Parcel Number for the Property is 052-112-120,
<br />This is an absolute assignment of Rents made in connection with an obligation secured by property pursuant
<br />to California Civil Code section 2938.
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL
<br />OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN
<br />AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided In this Assignment or any Related Documents, Grantor shall pay to Lender all
<br />amounis secured by this Assignment as they became due, and shall strictly perform all of Grantors obligations under this Assignment. Unless and
<br />unlit Leader exerclses Its right to collect the Rents as provided below and so long as there is no default under this Assignment, Grantor may remain
<br />in possession and control of and operate end manage the Property and collect the Rents, provided that the granting of the right to collect the Rents
<br />shall not constitute Lenders consent to the use of cash collateral In a bankruptcy proceeding.
<br />GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:
<br />Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and claims except as disclosed to
<br />and accepted by Lender in writing.
<br />Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and convey the Rents to Lender.
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now In face.
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights In the Rents except as provided
<br />in this Assignment.
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Upon the occurrence of an Event of Default (as defined below), and at any time
<br />thereafter, Lender shelf have the right 10 collect and met" the Rents. For this purpose, Lender Is hereby given and granted the following rights,
<br />powers and authority.
<br />Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this Assignment and directing all Rents
<br />to be paid directly to Lender or Lender's agent.
<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from the tenants or from any
<br />other persons liable therefor, all of the Rents; Institute and tarty on all legal proceedings necessary for the protection of the Property,
<br />Including such proceedings as may be necessary to recover possession of the Property; collect the Rents and remove any tenant or tenants
<br />or other persons from the Property.
<br />Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same In repair, to pay the costs thereof
<br />and of all services of all employees, Including their equipment, and of all continuing costs and expenses of maintaining the Property In proper
<br />repair and condition, and also to pay all taxes, assessments and water utilities, and the premiums an fire and other Insurance effected by
<br />Lender on the Property,
<br />Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the State of California and also all other
<br />laws, rules, orders, ordinances and requirements of all other govemmemal agencies affecting the Property.
<br />Lease the Property. Lender may rent or lease the whole or any part of the Property for such tenor terns and on such conditions as Lander
<br />may deem appropriate, provided, however, that Lender will not rent or lease the whole or any part of the Property on terms and conditions In
<br />contravention of any restrictions recorded against the Property, Including, without limitation, the Declaration of Affordability Covenants
<br />executed by Grantor for the benefit of the City of Redwood City and the Declaration of Affordability Covenants executed by Grantor for the
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