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Recording requested by: <br />North American Title Company <br />Escrow No. 98220683SHS <br />sa \Option.RVC(1) <br />WHEN RECORDED MAIL TO: <br />City of Pleasanton <br />123 Main Street <br />Pleasanton, CA 94566 <br />Attn: Scott Erickson <br />Ridge View Commons <br />5200 Case Avenue <br />Pleasanton, CA <br />SUBORDINATION AGREEMENT <br />(Memorandum of Option) <br />WE HEREBY CERTIFY THAT THIS IS A FUTA, <br />;i EXACT c ry Cif r ti z. -I PI AI <br />TRUE !t`. A I '� <br />El lZ[ , C <br />n, <br />OFF ` l Y 'n COUNTY - . ` <br />CAL 0 ..,._ r - 1; :, I c__ 1 � L <br />IN i c W.COITOS <br />Al PAGE < 110. .1___ d45 <br />NORTH ANC: RICAN Ti N± CO., INC. <br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY <br />INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER <br />PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT <br />THIS SUBORDINATION AGREEMENT is made as of September 16, <br />1999, by Ridge View Commons Associates, a California Limited <br />Partnership ( "Owner") and Eden Housing, Inc., a California <br />nonprofit public benefit corporation ( "Eden "). <br />RECITALS: <br />Owner has executed or is about to execute that Promissory <br />Note and Deed of Trust dated as of September 1, 1999, in the <br />principal amount not to exceed $2,250,000.00 in favor of the City <br />of Pleasanton ( "Lender "), which Deed of Trust is being recorded <br />concurrently herewith; <br />WHEREAS, the Owner, as the optionor, and Eden, as the <br />optionee, have executed a Memorandum of Option recorded March 14, <br />1990 as series no. 90070679 in Alameda County; and <br />WHEREAS, it is a condition precedent to obtaining the loan <br />from the Lender that the Deed of Trust shall unconditionally be <br />and remain at all times a lien upon the Property described in <br />Exhibit A, prior and superior to the lien of the Memorandum of <br />Option; and <br />WHEREAS, Lender is willing to make the loan provided the <br />Deed of Trust is a lien upon the Property prior and superior to <br />the lien of the Memorandum of Option and provided that Owner and <br />Eden will specifically and unconditionally subordinate the lien <br />of the Memorandum of Option to the lien of the Deed of Trust; and <br />NOW, THEREFORE, in consideration of the mutual benefits <br />accruing to the parties hereto and other valuable consideration, <br />the receipt and sufficiency of which consideration is hereby <br />acknowledged, and in order to induce Lender to make the loan <br />