GOOD, EMERY LEE - Laserfiche WebLink

20. Transfer. "Transfer" means any sale, assignment or transfer, voluntary or involuntary, of any interest in the Property, including, but not limited to, a fee simple interest, a joint tenancy interest, a life estate, a leasehold interest, an interest evidenced by a land contract by which possession of the Property is transferred and the Borrower retains title, or a deed of trust. The following transfers ("Permitted Transfers") of title to the Property, or of any estate or interest therein, shall not be subject to restrictions on assumption listed in Section 10 of this Note: (i) a good-faith transfer by gift, devise or inheritance to the Borrower's spouse, domestic partner, child, or other legal heir; (ii) a taking of title by a surviving joint tenant; (c) a court-ordered transfer of title to a spouse as part of a divorce or dissolution proceeding; (d) a transfer by the Borrower into an inter vivos trust in which the Borrower is a beneficiary and the Borrower continues to occupy the property as his/her/their principal residence; (e) an acquisition of title, or of any interest therein, in conjunction with marriage; or (f) any good faith transfer to a very low- to low-income household eligible to participate in the City's Housing Rehabilitation Program, provided the Note is assumed or its conditions are otherwise accepted by the eligible household as part of the transfer consistent with the Housing Rehabilitation Program. 21. Non-recourse; Assignment by City. Borrower shall have no personal liability for any deficiency on this Note and the only remedy available to the City or any holder in due course shall be foreclosure pursuant to law as provided in the Deed of Trust. The City may assign its right to receive the proceeds under this Note to any person and upon notice to Borrower by the City all payments shall be made to the assignee. 22. Joint and Several Obligations. This Note is the joint and several obligation of all makers, sureties, guarantors and endorsers, and shall be binding upon them and their successors and assigns. 23. Governing Law. This Note shall be construed in accordance with and be governed by the laws of the State of California. Date: 3 - EMERY LEE GOOD: Date: 37,1. /2P"3 W. DARLEEN GOOD: City of Pleasanton Rehabilitation Program Promissory Note Page 5