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Santa Clara Land Title Co.
<br />49 -905
<br />RECORDING REQUESTED BY:
<br />Eden Housing, Inc.
<br />WHEN RECORDED MAIL TO:
<br />Eden Housing, Inc.
<br />22941 Atherton Street, Suite D
<br />Hayward, California 94541
<br />Attention: Executive Director
<br />to secure a note in the sum of $ 4, 000, 000.00
<br />City of Pleasanton, California.
<br />recorded recorded
<br />Form A
<br />T P, ei Liccumeni ♦ e corded
<br />CS I.O.
<br />Has not be cen ,l,,-red tvilh trig 1
<br />SPACE ABOVE THIS LINE FOR RECORDER'S USE
<br />SUBORDINATION AGREEMENT
<br />NOTICE: COMING SUBORDINATION
<br />UBJJECT TO AND OF ( LOWER PRIORITY THAN THE LIEN OTHER OR LATEER SECURITY
<br />INSTRUMENT.
<br />THIS AGREEMENT, made this 27th day of June . 19 88 • b y
<br />Eden Housing, Inc., a California nonprofit corporation
<br />owner of the land hereinafter described and hereinafter referred to as "Owner,' and
<br />City of Pleasanton, California
<br />present owner and holder of the deed of trust and note first hereinafter described and hereinafter referred to as "Beneficiary";
<br />WITNESSETH
<br />THATWHEREAS,Eden Housing, Inc., a California nonprofit corporation
<br />did executeadeedoftrust,datd June 27, 1988, to Santa Clara Land Title Company
<br />, as trustee, covering:
<br />See Exhibit A attached hereto and incorporated by this reference herein.
<br />, dated June 27, 1988 , in favor of th
<br />♦
<br />, which deed o trust was
<br />page , Official Records of said county; and
<br />WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of $ 0 360, 000.00
<br />dated June 27, 1988 , in favor of the City of Pleasanton,
<br />, hereinafter referred to as - Lender, - payable with interest and upon the terms and conditions de-
<br />scribed therein, which deed of trust is to be recorded concurrently herewith; and
<br />WHEREAS, it is a condition precedent to obtaining said loan that said deed of trust last above mentioned shall unconditionally be and
<br />remain at all times a lien or charge upon the land hereinbefore described, prior and superior to the lien or charge of the deed of trust
<br />first above mentioned; and
<br />WHEREAS, lender is willing to make said loan provided the deed of trust securing the same is a lien or charge upon the above described
<br />property prior and superior to the lien or charge of the deed of trust first above mentioned and provided that Beneficiary will specifi-
<br />cally and unconditionally subordinate the lien or charge of the deed of trust first above mentioned to the lien or charge of the deed of
<br />trust in favor of Lender; and
<br />WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner; and Beneficiary is willing that the
<br />deed of trust securing the same shall, when recorded, constitute a lien or charge upon said land which is unconditionally prior and
<br />superior to the lien or charge of the deed of trust first above mentioned.
<br />NOW, THER EFORE, in consideration of the mutual benefits accruing todthe order tohnduoe Lender and h other valuable consideration, ration, the re-
<br />ceipt and sufficiency of which consideration is hereby acknowledged, a
<br />to, it is hereby declared, understood and agreed as follows:
<br />Ill be and said remains at f all times a ore harge the property therein described, de crib d, p extensions
<br />for toothedel unconditionally
<br />lien or charge of the
<br />deed of trust first above mentioned.
<br />(2) That Lender would not make its loan above described without this subordination agreement.
<br />
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