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above referred to, it is hereby declared, understood and agreed <br />as follows: <br />1. (a) That the Deed of Trust, and any renewals or <br />extensions thereof, shall unconditionally be and remain at all <br />times a lien on the Property, prior and superior to the lien of <br />the Memorandum of Lease. <br />(b) That Lender would not make the loan above <br />described without this subordination agreement. <br />(c) That this agreement shall be the whole and only <br />agreement with regard to the subordination of the lien of the <br />Memorandum of Lease to the lien of the Deed of Trust. <br />2. Web declares, agrees and acknowledges that it consents <br />to the Note and Deed of Trust referred to above and Lender in <br />making disbursements pursuant to the loan documents is under no <br />obligation to see to the application of such proceeds by the <br />persons to whom Lender disburse such proceeds, and any <br />application or use of such proceeds for purposes other than those <br />provided for in the loan documents shall not defeat this <br />subordination. <br />3. This Agreement, which may be signed in counterparts, <br />shall be binding on and inure to the benefit of the legal <br />representatives, heirs, successors and assigns of the parties. <br />4. This Agreement shall be governed by and construed in <br />accordance with the laws of the State of California. <br />By: <br />sa \Option.RVC(1) <br />Executed as of the date first written above. <br />Web Service Co., Inc. Ridge View Commons, a <br />California Limited Partnership <br />c <br />Its: David G. Kent, Assist. Secretary <br />By: RVC Investments, Inc., its <br />general partner <br />By: <br />Catherine A. Merschel <br />Executive Director <br />