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Recording requested by: <br />North American Title Company <br />Escrow No. 98220683 SHS <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 />sa \Option.RVC(1) <br />'e I1F.REBY <br />7.,e7 4 "D <br />L. <br />C <br />1 � <br />t. <br />R c;c - <br />SUBORDINATION AGREEMENT <br />(Memorandum of Lease) <br />RECITALS: <br />CERTIFY THAT THIS IS A FULL, <br />CT co : -Y Cr THY QRi■31`!Al <br />7 . <br />r <br />1 .!ATE OF <br />586 <br />LL <br />AT PACE - -- r <br />I � OR {YI t i�rin ICU: Co., <br />a C <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 Web Service Co., Inc. ( "Web "). <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 and Web have executed a Memorandum of <br />Lease dated March 1, 1996, and recorded June 3, 1996 as series <br />no. 96132826 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 />Lease; 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 Lease and provided that Owner and <br />Web will specifically and unconditionally subordinate the lien of <br />the Memorandum of Lease 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 />