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Trustor, and all condemnation awards or payments now or later made in connection
<br /> with any condemnation or eminent domain proceeding ("Proceeds"),
<br /> f All revenues, income, rents, royalties, payments and profits produced by
<br /> the Land, Improvements, Appurtenances and Equipment, whether now owned or
<br /> hereafter acquired by Trustor ("Gross Revenues"),
<br /> g All architectural, structural and mechanical plans, specifications, design
<br /> documents and studies produced in connection with development of the Land and
<br /> construction of the Improvements (collectively, "Plans"), and
<br /> h All interests and rights in any private or governmental grants, subsidies,
<br /> loans or other financing provided in connection with development of the Land and
<br /> construction of the Improvements (collectively, "Financing")
<br /> All of the above-referenced interests of Trustor in the Land, Improvements,
<br /> Appurtenances, Equipment, Leases, Rents, Proceeds, Gross Revenues, Plans and
<br /> Financing as hereby conveyed to Trustee or made subject to the security interest herein
<br /> described are collectively referred to herein as the "Property."
<br /> 2. Obligations Secured This Deed of Trust is given for the purpose of securing
<br /> payment and performance of the following (collectively, the "Secured Obligations") (i)
<br /> all present and future indebtedness evidenced by the Note and any amendment thereof,
<br /> including principal, interest and all other amounts payable under the terms of the Note,
<br /> (ii) all present and future obligations of Trustor to Beneficiary under the City Documents
<br /> (defined below), (iii) all additional present and future obligations of Trustor to Beneficiary
<br /> under any other agreement or instrument acknowledged by Trustor (whether existing
<br /> now or in the future) which states that it is or such obligations are, secured by this Deed
<br /> of Trust, (iv) all obligations of Trustor to Beneficiary under all modifications,
<br /> supplements, amendments, renewals, or extensions of any of the foregoing, whether
<br /> evidenced by new or additional documents, and (v) reimbursement of all amounts
<br /> advanced by or on behalf of Beneficiary to protect Beneficiary's interests under this
<br /> Deed of Trust or any other City Document. The Loan Agreement, the Note, the
<br /> Affordable Housing Regulatory Agreement and Declaration of Restrictive Covenants
<br /> dated as of the date hereof, executed by and between Trustor and Beneficiary and
<br /> recorded substantially concurrently herewith, and this Deed of Trust, as any of the
<br /> foregoing instruments may be modified, supplemented, amended, renewed, or
<br /> extended, are herein after collectively referred to as the "City Documents "
<br /> 3 Assignment of Rents, Issues, and Profits Trustor hereby irrevocably, absolutely,
<br /> presently and unconditionally assigns to Beneficiary the Rents, royalties, issues, profits,
<br /> revenue, income and proceeds of the Property This is an absolute assignment and not
<br /> an assignment for security only. Beneficiary hereby confers upon Trustor a license to
<br /> collect and retain such Rents, royalties, issues, profits, revenue, income and proceeds
<br /> as they become due and payable prior to any Event of Default hereunder Upon the
<br /> occurrence of any such Event of Default, Beneficiary may terminate such license
<br /> without notice to or demand upon Trustor and without regard to the adequacy of any
<br /> 3
<br /> OAK #4847-7399-4286 v5
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