ORD 2309 - Laserfiche WebLink

C. The secondary unit rental restrictions set forth in this Deed of Trust and in the Secondary Unit Regulatory Agreement are intended to effectuate the requirements of the Program. D. Among other provisions, the Secondary Unit Regulatory Agreement provides that (i) if rented, the restricted secondary unit must be rented at or below the Qualifying Rent to Eligible Households, (ii)Trustor is subject to certain recording requirements; and (iii) there are limitations on the sale of the Property. E. Capitalized terms used and not defined in this Deed of Trust have the meaning ascribed to them in the Secondary Unit Regulatory Agreement. NOW THEREFORE, to secure full and timely performance by Trustor of the Secured Obligation, it is agreed as follows: 1. Grant in Trust. Trustor, in consideration of the promises herein recited and the trust herein created, hereby irrevocably and unconditionally grants, transfers, conveys and assigns to Trustee, in trust for the benefit of Beneficiary, with power of sale and right of entry and possession, all of Trustor's right, title and interest now held or hereafter acquired in and to the following: (a) all of that certain real property located at [Property address] in Pleasanton, California 94566, which is more particularly described in Exhibit A, attached hereto and incorporated herein by this reference (the "Land"); (b) all buildings, improvements and fixtures now or hereafter erected on the Property and all replacements and additions thereto ("Improvements"); (c) all easements, rights of way, appurtenances and other rights used in connection with the Property or as a means of access thereto ("Appurtenances"); (d) all fixtures now or hereafter attached to or used in and about the Property or the Improvements or hereafter located or constructed on the Property, and all renewals or replacements thereof or articles in substitution therefor, whether or not the same are, or shall be attached to the Improvements in any manner ("Fixtures and Equipment"); and (e) all leases, subleases, licenses and other agreements relating to use or occupancy of the Property ("Leases") and all rents or other payments which may now or hereafter accrue or otherwise become payable to or for the benefit of Trustor ("Rents") (whether or not such Leases and Rents are permitted pursuant to the Secondary Unit Regulatory Agreement). All of the above-referenced Property, Improvements, Appurtenances, Fixtures and Equipment, Leases and Rents are herein referred to collectively as the"Security." 2. Obligations Secured. This Deed of Trust is given for the purpose of securing performance of all of the following (the "Secured Obligations"): (i) all present and future obligations of Truster set forth in this Deed of Trust or in the Secondary Unit Regulatory Agreement; (ii) all additional present and future obligations of Trustor to Beneficiary under 16