Laserfiche WebLink
<br />,.J <br />I\i <br /> <br />) <br />~ <br /> <br />'.;" <br />'"\ <br />J <br />if> <br /> <br />Recording Requested By <br />First American Title Company <br /> <br />WHEN RECORDED MAlL TO: <br /> <br />DOC a 2002-01439& <br />01/09/2002 08:00A F..:3S,00 <br />Page 1 of 11 <br />Recorded in Official Records <br />County of Riverside <br />Gory ~, Orso <br />Assessor, County Clerk & Recorder <br /> <br /> <br />1111111 1111111111 11111111111 111111 11111 11111111 11111111 <br /> <br />City Clerk <br />City of Riverside <br />City Hall, 3900 Main Street <br />Riverside, California 92522 <br /> <br /> <br />Mis I u <br />-I:T- <br /> <br />I <br />..;-r;T~ <br /> <br />~A_ ~COR NO~OR t SMF~_MISC <br /> <br />Project: Riverside Park Apartments <br /> <br />NCHG EXAM <br /> <br />FOR RECORDER'S USE ONLY <br /> <br />-(.. <br /> <br />ASSUMPTION RIDER TO THE EXISTING DEEDS OF TRUST <br /> <br />frl <br />L MGJ <br /> <br />AND ASSIGNMENT AGREEMENT <br /> <br />THIS AGREEMENT is made and entered into this 18th day of December ,2001, <br />by and between the REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, a political <br />subdivision ofthe State of California ("Agency"), HAMPSHIRE CAPITAL, LP ("Transferee") and <br />RP APARTMENTS, L TD" a California limited partnership ("Owner"), and is made with reference <br />to the following facts: <br /> <br />A, On or about July 13, 1992, Agency and Owner executed a Rental Rehabilitation <br />Agreement ("1992 Agreement"), Promissory Note for six hundred fifty thousand dollars ($650,000), <br />Declaration of Covenants, Conditions and Restrictions Affecting Real Property, Deed of Trust and <br />Subordination Agreement (collectively the "1992 Loan Documents"), previously recorded with the <br />Riverside County Recorder under instrument numbers 271570, 271571 and 271572, wherein the <br />Agency provided financial assistance to Owner for the rehabilitation of that certain property <br />commonly known as RP Apartments, 1812 -1892 Eleventh Street and 1804-1891 Twelfth Street, <br />Riverside California (the "Property") in consideration for forty-three (43) affordable units for persons <br />and families of moderate income and twenty-nine (29) affordable units for persons and families of <br />low income. <br /> <br />B. On or about March 17, 1998 Agency and Owner executed an Affordability Subsidy <br />Agreement, Promissory Note for four hundred thousand dollars ($400,000) ("1998 Promissory <br />Note"), Declaration of Covenants, Conditions and Restrictions Affecting Real Property, Deed of <br />Trust, Subordination Agreement and Certificate of Continuing Program Compliance (collectively <br />the "] 998 Loan Documents"), previously recorded with the Riverside County Recorder under <br />instrument numbers 183194, 183197 and 183199, wherein Agency provided financial assistance to <br />Owner in order to allow Owner to refinance and modify the first mortgage loan secured by a deed <br />of trust against the Property in favor of Coast Federal Bank, Federal Savings Bank and Owner <br />