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99386164 <br /> above referred to, it is hereby declared, understood and agreed <br /> as follows: <br /> 1. (a) That the Deed of Trust, and any renewals or <br /> extensions thereof, shall unconditionally be and remain at all <br /> times a lien on the Property, prior and superior to the lien of <br /> the Memorandum of Lease. <br /> (b) That Lender would not make the loan above <br /> described without this subordination agreement. <br /> (c) That this agreement shall be the whole and only <br /> agreement with regard to the subordination of the lien of the <br /> Memorandum of Lease to the lien of the Deed of Trust. <br /> 2. Web declares, agrees and acknowledges that it consents <br /> to the Note and Deed of Trust referred to above and Lender in <br /> making disbursements pursuant to the loan documents is under no <br /> obligation to see to the application of such proceeds by the <br /> persons to whom Lender disburse such proceeds, and any <br /> application or use of such proceeds for purposes other than those <br /> provided for in the loan documents shall not defeat this <br /> subordination. <br /> 3. This Agreement, which may be signed in counterparts, <br /> shall be binding on and inure to the benefit of the legal <br /> representatives, heirs, successors and assigns of the parties. <br /> 4. This Agreement shall be governed by and construed in <br /> accordance with the laws of the State of California. <br /> Executed as of the date first written above. <br /> Web Service Co., Inc. Ridge View Commons, a <br /> California Limited Partnership <br /> By: RVC Investments, Inc., its <br /> general partner <br /> Its: David G. Kent, Assist. Secretary <br /> By: <br /> Catherine A. Merschel <br /> Executive Director <br /> sa\Option.RVC(1) <br />