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Recording requested by: <br />North American Title Company <br />Escrow No 98220683SHS <br />FREE RECORDING REQUESTED ) <br />PURSUANT TO GOVERNMENT CODE ) <br />SECTION 27383 ) <br />) <br />) <br />when recorded return to: ) <br />) <br />CALIFORNIA HOUSING FINANCE ) <br />AGENCY ) <br />Office of General Counsel ) <br />1121 L Street, Suite 300 ) <br />Sacramento, CA 95814 ) <br />CHFA 71.SUBA.WEB /RIDGE VIEW COMMONS <br />9 /20/99. RKO. SAON2 V 08. a mp <br />(Space above this line for Recorder's use) <br />SUBORDINATION AGREEMENT (LEASE) <br />RECITALS <br />WE HERESY crpTIFY T'-i1T ";." <br />D ..,_ <br />r<:r2 G,r <br />IN f C: CI: '. <br />AT PAGE - - - -- t -. <br />NOnTii A,i.1•RIC,N 111:L. INC. <br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR INTEREST IN THE <br />PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE <br />LIEN(S) OF SOME OTHER OR LATER SECURITY INTEREST(S). <br />THIS AGREEMENT is entered into by and between Web Service Company, Inc., a California <br />corporation ( "Web "), Ridge View Commons Associates, a California limited partnership ( "Borrower "), and <br />the California Housing Finance Agency ( "CHFA ") in connection with a loan to Borrower to finance a <br />multifamily residential rental housing project on real property located in Pleasanton, California and more <br />particularly described on Exhibit A attached hereto and incorporated herein by this reference ( "Project "). <br />A. WHEREAS, CHFA has committed to modify a permanent first mortgage loan to Borrower <br />in the amount of Nine Million Three Hundred Sixty Thousand and No /100 Dollars ($9,360,000.00) <br />( "Permanent Financing Loan "). Such Permanent Financing Loan is evidenced by a promissory note and <br />secured by a deed of trust on the Project Such deed of trust is entitled "California Housing Finance Agency <br />and Municipal Bond Investors Assurance Corporation Permanent Deed of Trust With Assignment of Rents, <br />Security Agreement and Fixture Filing, Development No. 87 -007 -N (Permanent Financing Loan)" recorded <br />on June 12, 1990 as Instrument No. 90009860 in the Official Records County of Alameda (hereinafter referred <br />to as the "CHFA Deed of Trust "); and <br />B. WHEREAS, CHFA restricts the uses and occupancy of the Project pursuant to a regulatory <br />agreement entitled "California Housing Finance Agency Regulatory Agreement, CHFA Development <br />No. 87- 007 -N," recorded on June 12, 1990 as Instrument No. 90009858 hereinafter referred to as the "CHFA <br />Regulatory Agreement "; and <br />7 <br />