RIVERSIDE HOUSING DEVELO (2) - Laserfiche WebLink

Home

· u.a ?yers'Titl.e 0o. RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: Redevelopment Agency of the City of Riverside 3900 Main Street Riverside, CA 92522 Attn: Executive Director Project: Arlanza Apartments DOC # 2004--0545271 07/14/2004 08:00~ Fee:NC Page ! of 28 Recorded in Official Records County of Riverside Gary L. 0rso ~ssessor, County Clerk & Recorder A R L LONG R~FUND NCHG EXJ~M This document is exempt from thc payment of a recording fee pursuant to Govemment Code Section 6103. DEED OF TRUST, FIXTURE FILING AND ASSIGNMENT OF RENTS THIS DEED OF TRUST, FIXTURE FILING AND ASSIGNMENT OF RENTS ("Deed of Trust") is made as of June 3 , 2004, by RIVERSIDE HOUSING' DEVELOPMENT CORPORATION, a California nonprofit public benefit corporation ("Trustor"), whose address is 4250 Brockton Avenue, Suite 200, Riverside, California 92501, to Land America Lawyers Title Company, located at 325 W. Hospitality, Suite 100, San Bernardino, CA 92408 ("Trustee"), for the benefit of the REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, a public body, corporate and politic ("Beneficiary"). THIS DEED OF TRUST is given, inter alia, for the purpose of securing the obligation of Trustor to repay Beneficiary all principal and interest due under that certain loan in the amount of up to One Million Four Hundred Sixty Four Thousand One Hundred Eighty-Two Dollars ($1,464,182) made by Beneficiary for the benefit of Trustor (the"Agency Loan") evidenced by that certain Agency Promissory Note of even date herewith (the "Note") and made in accordance with that certain Affordable Housing Development Agreement dated for identification purposes only as of June 1, 2004 by and among the City of Riverside, Beneficiary and Trustor (the "Agreement") and the performance of Trustor's obligations thereunder and under this Deed of Trust and the Regulatory Agreement as hereinafter defined. The Agency Loan shall be made in connection with the acquisition and assembly of certain real property and predevelopment activities in preparation for construction of improvements thereon containing one hundred (100) to one hundred ten (110) Units and any improvements appurtenant thereto by the Trustor in accordance with the Agreement (the "Project"). The real property is located in the vicinity of Janet Avenue and Cypress Avenue, west of Montgomery Street in the Arlanza Neighborhood within the City of Riverside, State of California, as more particularly described in Attachment No. 1 attached hereto and by this reference incorporated herein (the "Property"). AHanza-Agcncy Deed of Trust 052404 Page 1