Laserfiche WebLink
October 5, 1999 <br />North American Title Company <br />1190 Russell Way <br />Hayward, California 94541 <br />Attention: Suzanne Hooten Smith, Escrow Officer <br />39i46'd <br />Re: Escrow Instructions <br />Escrow No. 982209683 <br />Property: Ridge View Commons <br />Pleasanton, CA <br />Borrower: Ridge View Commons Associates <br />Dear Ms. Smith: <br />The following constitutes the escrow instructions by the <br />City of Pleasanton ( "City "), in connection with the City's <br />$2,250,000.00 loan ( "Loan ") to Ridge View Commons Associates, a <br />California Limited Partnership ( "Borrower "). The Loan is being <br />made in connection with the Borrower's modification of the <br />California Housing Finance Agency ( "CHFA ") loan secured by the <br />first deed of trust on the property identified above and more <br />particularly described in your preliminary report no. 98220683 <br />dated as of August 30, 1999 Update (the "Preliminary Report "). <br />These instructions are submitted to you as agent for the <br />City for (i) delivery of a policy of title insurance to the City <br />and (ii) delivery to the Borrower, or to its order, of certain <br />monies to be deposited with you as agent. <br />A. Documents and Funds to be Deposited into Escrow. <br />1. The following have been or will be delivered by the <br />City to you in trust pending the close of escrow: <br />a. Subordination Agreement to subordinate the City's <br />existing Deed of Trust to CHFA's Loan Modification Agreement; <br />b. Subordination Agreement to subordinate the <br />California Tax Credit Allocation Committee's ( "CTCAC ") recorded <br />Regulatory Agreement to the City's new Deed of Trust; and <br />c. The sum of $2,250,000.00 will be wired into escrow <br />representing the full disbursement of the City's Loan. <br />2. The Borrower is to deposit the following into escrow: <br />1100 91:21 6661 -S0-100 <br />