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Item 68 - Crossroads at Washington Affordable Housing Project at 1126, 1136, & 1146 East Washigton Ave.
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Item 68 - Crossroads at Washington Affordable Housing Project at 1126, 1136, & 1146 East Washigton Ave.
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City Clerk
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Agenda Packet
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Clerk of the Council
Item #
68
Date
6/21/2022
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<br />1 <br />The Crossroads at Washington <br />City HOME Deed of Trust <br />FREE RECORDING REQUESTED PURSUANT <br />TO GOVERNMENT CODE SECTION 27383 <br /> <br />When Recorded Mail to: <br /> <br />City of Santa Ana <br />Clerk of the Council <br />20 Civic Center Plaza (M-30) <br />P.O. Box 1988 <br />Santa Ana, California 92702 <br />Attention: Clerk of the Council <br />_________________________________________________________________ <br /> <br /> <br /> CITY HOME DEED OF TRUST <br /> AND ASSIGNMENT OF RENTS <br /> (1126, 1136 & 1146 East Washington Avenue, Santa Ana, California) <br /> <br />THIS DEED OF TRUST AND ASSIGNMENT OF RENTS (“Deed of Trust”) is made as of this <br />21st day of June, 2022, by Washington Santa Ana Housing Partners, L.P., a California limited <br />partnership, (“Trustor”), to [ ______ ], as trustee (“Trustee”), for the benefit of the City of Santa <br />Ana, a charter city and municipal corporation , as beneficiary (“Beneficiary”). <br /> FOR GOOD AND VALUABLE CONSIDERATION, including the indebtedness herein <br />recited and the trust herein created, the receipt of which is hereby acknowledged, Trustor hereby <br />irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF <br />SALE AND RIGHT OF ENTRY AND POSSESSION, for the benefit and security of <br />Beneficiary, under and subject to the terms and conditions hereinafter set forth, Trustor’s <br />leasehold interest in the property located in the City of Santa Ana, State of California, that is <br />described in Exhibit A, attached hereto and incorporated herein by this reference (the <br />“Property”), on which Trustor intended to construct and operate an apartment complex <br />commonly known as Crossroads at Washington. <br /> TOGETHER WITH all interest, estates or other claims, both in law and in equity which <br />Trustor now has or may hereafter acquire in the Property and the rents; <br /> TOGETHER WITH all easements, rights-of-way and rights used in connection therewith <br />or as a means of access thereto, including without limiting the generality of the foregoing, all <br />tenements, hereditament and appurtenances thereof and thereto; <br /> TOGETHER WITH any and all buildings, improvements and landscaping of every kind <br />and description now or hereafter erected thereon, and all property of the Trustor now or hereafter <br />affixed to or placed upon the Property (sometimes collectively referred to as the <br />“Improvements”); <br />EXHIBIT 5
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