RIDGE VIEW COMMONS - CONSTRUCTION LOAN

RECORDING REQUESTED BY & WHEN RECORDED MAIL TO: City of Pleasanton P.O. Box 520 Pleasanton, CA 94566 -0802 Attn: City Attorney RECORDED at REQUEST OF, SANTA CLARA LAND TITLE CO. At 8:30 A.M. 'JUN 2 91988 OFFICIAL RECORDS OF ALAMEDA COUNTY, CALIFORNIA RENE C. DAVIDSON COUNTY RECORDER ASSIGNMENT OF RENTS AND LESSOR'S INTEREST IN LEASES M I54`A3 FOR VALUE RECEIVED, EDEN HOUSING, INC., a California nonprofit corporation ( "ASSIGNOR "), hereby assigns to the CITY OF PLEASANTON, a municipal corporation, ( "ASSIGNEE ") all of ASSIGNOR's right, title, and interest in and to all leases, rental agreements or the like (the "LEASES ") now or hereafter existing with respect to the premises hereafter described; except for that certain Ground Lease dated June 1, 1988, by and between EDEN HOUSING, INC. and the CITY OF PLEASANTON, a short form of which was recorded on June 9, 1988, as Instrument 88- 138518, Official Records, Alameda County Recorder's Office. ASSIGNOR also hereby assigns to ASSIGNEE all rents, income and profits arising from premises referred to below including, without limitation, the Leases and any renewals or extensions thereof, together with all of the right, power, and authority of ASSIGNOR to alter, modify or change the terms of the Leases or to surrender, cancel, or terminate the same without the prior written consent of ASSIGNEE. The premises affected by the Leases and this assignment are described in Exhibit A attached hereto and by this reference made a part hereof. This assignment is made for the purpose of securing the payment of the indebtedness evidenced by that certain Promissory Note in the principal sum of $10,360,000.00, including any extensions, modifications, or renewals thereof (hereinafter referred to herein as the "Note "), executed by ASSIGNOR of even date herewith, payable to the order of ASSIGNEE and secured by a Deed of Trust of even date herewith on the real property referred to above, as well as payment of all other sums becoming due to ASSIGNEE under the provisions of this assignment or of the Note and Deed of Trust, and to secure the performance and discharge of each and every obligation, covenant, and agreement of ASSIGNOR herein and in the Note and Deed of Trust, and to secure all other indebtedness of ASSIGNOR to ASSIGNEE now exiting or hereafter arising. ASSIGNOR covenants, warrants, and agrees as follows: 1. ASSIGNOR is the owner of the lessor's entire interest in each of the Leases covering each and every rental unit on the property respectively, said Leases may be more fully described in Schedule A attached hereto (if any); each of the Leases described in Schedule A is in full force and effect and is a valid and enforceable agreement in accordance with its terms; and none of the Leases described in Schedule A is in default.