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StITA CLARA LAND TITLE COMPANY
<br />ff66116%G BY:
<br />Californie Housing Finance Agency
<br />WHEN RECORDED MAIL TO:
<br />California Housing Finance Agency
<br />Office of the General Counsel
<br />1121 L Street, 7th Floor
<br />Sacramento, California 95814
<br />SUBORDINATION AGREEMENT
<br />SANTA CLARA LAND TITLE COMPANY
<br />HEREBY CERTIFIES THIS IS A TRUE AND
<br />CORRECT COPY OF THE ORIGINAL
<br />RECORDED_4fLZANDER RECORDERS
<br />SERIES NO.
<br />AUTHORIZ D SIGN M ATURE
<br />SPACE ABOVE THIS LINE FOR RECORDER'S USE
<br />•
<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY BE—
<br />COMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY
<br />INSTRUMENT.
<br />THIS AGREEMENT, made this qyth da of January . 19 90 • by
<br />RIDGE VIEW COMMONS ASSOCIATES, a California Limited Partnership
<br />owner of the land hereinafter described and hereinafter referred to as "Owner,' and
<br />CITY OF PLEASANTON, CALIFORNIA, a municipal corporation
<br />present owner and holder of the deed of trust and note first hereinafter described and hereinafter referred to as "Beneficiary ";
<br />WITNESSETH
<br />THAT WHEREAS, Eden Housing, Inc., a California nonprofit corporation
<br />did execute a deed of trust, dated June 27, 1988 ,to Santa Clara Land Title Company, a
<br />California torporati on , as trustee, covering:
<br />All that certain real property situate in the City of Pleasanton, County of Alameda, State
<br />of California, described as follows:
<br />Parcel 2, as shown on Parcel Map No. 5231, recorded April 22, 1988 under Recorder's Series
<br />No. 88- 096708, in Book 176 of Maps at Pages 40 and 41, Alameda County Records,
<br />to secure a note in the stun of $4,000,000.00, dated June 27, 1988, in favor of City of
<br />Pleasanton, California, which deed of trust was recorded June 29, 1988, as Instrument No.
<br />88- 154983, which note and deed of trust were assigned by Eden Housing, Inc., to Ridge View
<br />Commons Associates by that Assumption and Assignment Agreement dated October 31, 1989,
<br />recorded November 14 , 1989, as Instrument No. 89- 308002 , Official Records of
<br />said county; and
<br />WHEREAS, Owner has executed, or is about to execute, a deed of trust and note In the sum f S 9, 360, 000.00
<br />sA
<br />dated Jan 1990 infavorof California Housing Finance A gency and Municipal Bond
<br />Investors Assurance* , hereinafter referred to as "Lender," payable with interest and upon the terms and conditions de-
<br />scribed therein, which deed of trust is to be recorded concurrently herewith; and
<br />*Corporation
<br />WHEREAS, It is a condition precedent to obtaining said loan that said deed of trust last above mentioned shall unconditionally be and
<br />remain at all times a Ilen or charge upon the land hereinbefore described, prior and superior to the lien or charge of the deed of trust
<br />first above mentioned; and
<br />WHEREAS, lender is willing to make said loan provided the deed of trust securing the same is a lien or charge upon the above described
<br />property prior and superior to the lien or charge of the deed of trust first above mentioned and provided that Beneficiary will specili•
<br />tally and unconditionally subordinate the lien or charge of the deed of trust first above mentioned to the lien or charge of the deed of
<br />trust in favor of Lender; and
<br />WHEREAS, It is to the mutual benefit of the parties hereto that Lender make such loan to Owner; and Beneficiary is willing that the
<br />deed of trust securing the same shall, when recorded, constitute a Tien or charge upon said land which Is unconditionally prior and
<br />superior to the lien or charge of the deed of trust first above mentioned.
<br />NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other valuable consideration, the re-
<br />ceipt and sufficiency of which consideration is hereby acknowledged, and In order to Induce Lender to make the loan above referred
<br />to, it is hereby declared, understood and agreed as follows:
<br />Form A
<br />'
<br />(1) That said deed of trust securing said note in favor of Lender, and any renewals or extensions thereof, shall unconditionally
<br />be and remain at all times a lien or charge on the property therein described, prior and superior to the lien or charge of the
<br />deed of trust first above mentioned.
<br />(2) That Lender would not make its loan above described without this subordination agreement.
<br />$9,360,000.00
<br />
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