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EXHIBIT 3
<br />Avenue, Suite 200, Irvine, CA 92614, Attn: President, with copies to JPMorgan Chase
<br />Bank, N.A., Community Development Banking, 300 Grand Avenue, Lo Angeles,
<br />California 90071, Attention_ Dun , Lcczcr, 1PMorgan Chasc Bank, N.A, Legal
<br />Deparunctu, Mail Code: NY 1-RC166, 4 New York Plaza, 2 t st Floor
<br />Mail Code: NY1-F089, New York, New York 10004 ^413, and Red Stone Equity— 2020
<br />CA Regional Fund, T._P., 1100 Superior Boulevard, Suite 1640, Cleveland, OH 44114,
<br />Attention: General Counsel, (b) any notice to the Beneficiary will be Uivcn by certified
<br />mail, rettutt receipt requested, to the Beneficiary at 20 Civic Center Plaza, P.O. Box 1988,
<br />Santa Ana, California 92702, Attention: Housing Division Manager, or at such other address
<br />as the Beneficiary may designate by notice to Trusnrr as provided above, and (c) to Trustee
<br />at 8121 F. Florence Avenue, Downey, California 90240_ Notice shall he effective as of
<br />the date received as shown on the rettun receipt.
<br />15. Governing II aw. This City Deed ofT ust shall be governed by the laws of
<br />the Slate of Cal i forma.
<br />16. Severability. In the oven[ that any provision or clause of this City Deed of
<br />Trust or the City Loan Note conflicts with applicable law, such conflict will not affect otter
<br />provisions of this City Deed of Trust or the City Loan Note which can be given effect
<br />without the conflicting pr0visi0 n, and to this end the provisions of the City Deed of Trust
<br />and the City Loan Note are declared to be severable_
<br />17. Captions. The captions and headings in this City Deed of Trust are tier
<br />convenience only and are not to be used to interpret ordefine the provisions hereof.
<br />is. Default in Foreclosure; Remedies. Upon Trustor's breach of any covenant or
<br />agrernent of TfUSlOr in this City Deed of Trust or the City Loan Note secured by this City
<br />Deed of Trust, including, but not limited to, the covenants to pav, when due, any sums
<br />secured by this City Deed of Trust, the Beneficiary may declare all SUMS secured by thi,
<br />City Deed of I rust immediately due and payable by delivering to 1 17LStpr notice lh ereo f
<br />specifying: ( t) The breach: (2) the action required to cure such breach; (3) a date not less
<br />than 30 day, from the date the notice is received by Trustn as shown oil the return receipt,
<br />by which such breach is to be cured provided, howcvcr, that if such default is not reasonable
<br />susceptible to being cured within 30 days, Trustor shall have a reasonable period to cure the
<br />defect so long as Trn5tor is diligently prosa:utinv the cure to connplclion; and (4) that faihue
<br />to etue such breach on or Before thee date specified in rhe notice may result in acceleration of
<br />the sums secured by this City Deed of Trust and sale of the Security. The notice will also
<br />inform Trustor ofTrustor's right to reinstate after acceleration and the rif�ht to bring a count
<br />action to assert the non-existence of default or any other defense of I Iustor to acceleration
<br />and sale.
<br />'the City Note contains additional cure periods granted to Trustor's limited
<br />partner and no event of del lull shall have occurred unlil and unless the'I ruslor's limiled
<br />partner fails to cure such breach during such cure period_
<br />City Council 5 21 — 67 4/20/2021
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