RIDGE VIEW REFINANCING - Laserfiche WebLink

1. (a) That the Deed of Trust, and any renewals or extensions thereof, shall unconditionally be and remain at all times a lien on the Property, prior and superior to the lien of the Memorandum of Option. (b) That Lender would not make the loan above described without this subordination agreement. (c) That this agreement shall be the whole and only agreement with regard to the subordination of the lien of the Memorandum of Option to the lien of the Deed of Trust. 2. Eden declares, agrees and acknowledges that (a) Eden consents to and approves all provisions of the Note and Deed of Trust referred to above; (b) Lender in making disbursements, if any, pursuant to the loan documents is under no obligation or duty to, nor has Lender represented that it will see to the application of such proceeds by the person or persons to whom Lender disburse such proceeds, and any application or use of such proceeds for purposes other than those provided for in the loan documents shall not defeat the subordination herein made in whole or in part; and (c) Eden and Owner intentionally subordinate the lien of the Memorandum of Option in favor of the lien upon said land of the Deed of Trust and understand that in reliance upon, and in consideration of, this subordination the loan is being and will be made and, as part and parcel thereof, specific monetary and other obligations are being and will be entered into which would not be made or entered into but for said reliance upon this subordination. 3. This Agreement shall be binding on and inure to the benefit of the legal representatives, heirs, successors and assigns of the parties. 4. This Agreement shall be governed by and construed in accordance with the laws of the State of California. sa\Option.RVC