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Recon ling requested by: <br />North American Title <br />FRErI�+.Cdit3 B G 1 bUESTED <br />PURSUANT TO GOVERNMENT <br />CODE SECTION 27383 <br />when recorded return to: <br />CALIFORNIA HOUSING FINANCE <br />AGENCY <br />Office of General Counsel <br />1121 L Street, 3rd Floor <br />Sacramento, CA 95814 <br />CHFA 71.RIDGEVIEW SUBA <br />9/29/99. RKO.SAON34ZV.emp <br />(Space above this line for Recorder's use) <br />CALIFORNIA HOUSING FINANCE AGENCY <br />SUBORDINATION AGREEMENT <br />(Option) <br />WF HERBY Cr -Utz/ TWAT THIS IS A t ; • <br />T ;W r;(p, CC <br />'POS. <br />NORTH An1:RICAN TILE CO., INC <br />u <br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN <br />THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE <br />LIEN(S) OF SOME OTHER OR LATER SECURITY INTEREST(S). <br />THIS AGREEMENT is entered into by and between Eden Housing Corporation, a California nonprofit <br />public benefit corporation ( "Eden "), Ridgeview Commons Associates, a California limited partnership <br />( "Borrower "), and the California Housing Finance Agency, a public instrumentality and a political subdivision <br />of the State of California ( "CHFA ") in connection with a loan to finance a multifamily residentiill rental <br />housing project on real property located in Pleasanton, California and more particularly described on <br />Exhibit A attached hereto and incorporated herein by this reference ( "Project "). <br />RECITALS <br />A. WHEREAS, CHFA has committed to modify a permanent first mortgage loan to Borrower in <br />the amount of Nine Million Three Hundred Sixty Thousand and No /100 Dollars ($9,360,000.00) ( "Loan <br />Modification Agreement "). The loan is evidenced by a promissory note and secured by a deed of trust <br />recorded on the Project. Such deed of trust is entitled the "California Housing Finance Agency, Permanent <br />Deed of Trust With Assignment of Rents, Security Agreement and Fixture Filing, CHFA Development No. <br />87 -007 -N (Permanent Financing Loan) ", recorded January 12, 1990 as Instrument No. 90009860, (hereinafter <br />"CHFA Deed of Trust "); and <br />B. WHEREAS, CHFA has restricted the Project pursuant to a regulatory agreement entitled, the <br />"California Housing Finance Agency Regulatory Agreement, CHFA Development No. 87- 007 -N," recorded <br />January PA, 1990 as Instrument No. ij0 hereinafter referred to as the "CHFA Regulatory Agreement." <br />12, 90009858 <br />-1- <br />