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ARTICLES <br />1. Grant in Trust. Truster, In consideration of the promises herein recited <br />and the trust herein created, hereby irrevocably and unconditionally grants, <br />transfers, conveys and assigns to Trustee, in trust for the benefit of Beneficiary, <br />with power of sale, all estate, right title and interest which Truster now has or may <br />later acquire the Property together with all of the following: all improvements now <br />or hereafter located or constructed on the Property and all replacements and <br />additions thereto; all easements, rights of way, appurtenances and other rights <br />used in connection with the Property or as a means of access thereto; all fixtures <br />now or hereafter attached to or used in and about the Property or the <br />Improvements located thereon or hereafter located or constructed on the <br />Property, and all renewals or replacements thereof or articles in substitution <br />therefor, whether or not the same are, or shaii be attached to the improvements in <br />any manner; and all leases, subleases, licenses and other agreements relating to <br />use or occupancy of the Property, and all rents or other payments that may new <br />or hereafter accrue or otherwise become payable to or for the benefit of Truster <br />(whether or not such Leases and Bents are permitted by the Inclusionary Housing <br />Covenants Declaration). All of the above- referenced Property, improvements, <br />appurtenance, fixtures and equipment, teases and rents are herein referred to <br />collectively as the "Security" <br />2. Secured !Obligations. Truster makes the grant, conveyance, transfer and <br />assignment herein for the purpose of securing payment and performance of the <br />following: (a) the City Share of Excess Proceeds in the event of an <br />Extraordinary Sale or a foreclosure sale; and (b) Trustors obligations under the <br />term of the Inclusionary Housing Covenants Declaration, <br />3. Maintenance and Repair. Truster shall (a) keep the Property in good <br />condition and repair and not remove or demolish any building; (b) complete or <br />restore promptly and in good and workmanlike manner any building which may <br />be constructed, damaged or destroyed; (c) pay when due all claims for labor <br />performed and materials furnished; (d) comply with ail laws affecting the <br />Property or requiring any alterations or improvements to be made; (a) not <br />commit or permit waste; and (f) cultivate, irrigate, fertilize, fumigate, prune and <br />do all other acts which from the character or use of the Property may be <br />reasonably necessary. <br />IndwWwrtry Housing Covenants Lodfafatiorr Page 6 <br />Assuwrnpti©n Agreement January 24'15 <br />25G -96 <br />