RIDGE VIEW REFINANCING - Laserfiche WebLink

Recording requested by: North American Title Company Escrow No. 98220683 SHS RECORDING REQUESTED BY & WHEN RECORDED RETURN TO: City of Pleasanton 123 Main Street Pleasanton, CA 94566 Attn: Scott Erickson VIE • SUBORDINATION AGREEMENT • NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTERESTS IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT - THIS SUBORDINATION AGREEMENT (this "Agreement ") is made as of September 16, 1999, by RIDGE VIEW COMMONS ASSOCIATES, A CALIFORNIA LIMITED PARTNERSHIP ('Borrower ") for the benefit of the CITY OF PLEASANTON, a municipal corporation( "Lender "), and is consented to by the CALIFORNIA TAX CREDIT ALLOCATION COMMITTEE, a public body ( "TCAC "). RECITALS: A. Borrower is the Owner of that certain real property located in the City of Pleasanton, County of Alameda, State of California, as more particularly described on Exhibit A attached hereto (the "Property"). B. Borrower is the owner of a multi - family housing development on the Property; the Property and the improvements constructed on it are referred to in this Agreement as the "Project". C. Borrower has received from TCAC, as the state housing credit agency for the State of California, a reservation of low- income housing tax credits ( "Tax Credits ") for the Project. D. Borrower and TCAC have entered into that certain Regulatory Agreement which sets forth certain use restrictions affecting the Project (the "Regulatory Agreement "), which Regulatory Agreement was recorded in the Alameda County Official Records ( "Official Records ") on February 25, 1991, as Document No. 91050998 as required by Section 42 of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (collectively, "Section 42 "). DC1 5967.2 0162.1 AGM'