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ttecuruiriy reyuesteu Dy <br />North American Title Company <br />Escrow R ECORDING S RE QUESTED ) <br />PURSUANT TO GOVERNMENT CODE ) <br />SECTION 27383 ) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />when recorded return to: <br />CALIFORNIA HOUSING FINANCE <br />City <br />Office of General Counsel <br />1121 L Street, Suite 300 <br />Sacramento, CA 95814 <br />(Space above this line for Recorder's use) <br />•V'E HEREBY CFP1Ipy• Ti 'i F IS A. 71.,P.1_, <br />T`IU; AtL) L ^ <br />l <br />(AtI'..t!vlA =o <br />IN q;_ ;OS <br />AT PAGE'.-------- - <br />NORTH AMEW,CAN 1l`iLL CO.. INC. <br />LOAN SUBORDINATION AGREEMENT <br />AFFIRMATION AND MODIFICATION (City) <br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST <br />IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN <br />THE LIEN(S) OR ENCUMBRANCE(S) OF SOME OTHER OR LATER <br />ENCUMBRANCE(S). <br />THIS AGREEMENT is entered into by and among Ridgeview Commons Associates, a California <br />limited partnership ( "Borrower "), the City of Pleasanton ( "City "), and the California Housing Finance <br />Agency ( "CHFA ") in connection with a loan by CHFA to Borrower to finance a multifamily residential <br />rental housing project on real property located in Pleasanton, Alameda County, California and more <br />particularly described on Exhibit "A" attached hereto and incorporated herein by this reference ( "Project "). <br />RECITALS <br />A. WHEREAS, CHFA has made loans to the Borrower, pursuant to that certain "Regulatory <br />Agreement, CHFA Development No. 87- 007 -N" ( "Regulatory Agreement), executed among Borrower and <br />CHFA, dated January 1, 1990 and recorded on January 12, 1990 as Instrument No. 90009858 in the <br />Official Records of the Alameda County Recorder ( "Official Records "); and <br />B. WHEREAS, CHFA's loan is evidenced by that certain promissory note (the "CHFA Note ") in <br />the amount of Nine Million Three Hundred Sixty Thousand and No /100 Dollars ($9,360,000.00), which is <br />secured by a deed of trust ( "CHFA Deed of Trust "), executed by Borrower, as trustor, to Santa Clara Land <br />Title Company, as trustee, in favor of CHFA, as beneficiary, and recorded on January 12, 1990 as <br />Instrument No. 90009860; and <br />CHFA 71.LN.SUB.AGMT.RIDGEVIEW COMMONS(AFFIRM /MOD)(CITY) <br />9/29/99.RK0 -1 <br />-1- <br />SAON2T7B.emp <br />