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Recorded at the Request of <br />Old Republic Title Company - <br />Oakland <br />11 doll, -6-3 <br />RECORDING REQUESTED BY <br />AND WHEN RECORDED, RETURN TO: <br />City of Pleasanton <br />123 Main Street <br />Pleasanton, CA 94566 <br />Attention: City Manager <br />EXEMPT FROM RECORDING FEES PER <br />GOVERNMENT CODE §§6103,27383 <br />O(4<q�� 2017269544 12/07/2017 12;38 PM <br />a OFFICIAL RECORDS OF ALAMEDA COUNTY <br />' STEVE MANNING <br />RECORDING FEE: 0 00 <br />cq(ippPH�4 <br />!I fill <br />I I II II l I I I I I 10 PGS <br />II I <br />�I I I I I ���� I �► l i i i <br />to <br />THIS SPACE ABOVE FOR RECORDER'S USE <br />SUBORDINATION AGREEMENT <br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY <br />INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF <br />LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER <br />SECURITY INSTRUMENT. <br />THIS SUBORDINATION AGREEMENT (this "Agreement") is made as of December 1, <br />2017, by and among Kottinger Gardens Phase 2 Associates, L.P., a California limited <br />partnership ("Borrower"), the County of Alameda, a political subdivision of the State of <br />California ("County"), and the City of Pleasanton, a municipal corporation ("City"). <br />City, County, and Borrower are collectively referred to herein as the "Parties". <br />RECITALS <br />A. Borrower holds a leasehold interest in the real property described in <br />Exhibit A attached hereto and incorporated herein by reference (the "Property") <br />pursuant to a Ground Lease dated as of the date hereof and executed by and between <br />City as Lessor and Borrower as Lessee (the "Ground Lease"). A memorandum of the <br />Ground Lease will be recorded in the Official Records of Alameda County, California <br />("Official Records") substantially concurrently herewith.. <br />B. County will make a loan to Borrower in the principal amount of Four <br />Million, Six Hundred Thousand Dollars ($4,600,000) (the "County Loan"). In <br />connection with the County Loan, the following documents will be recorded against <br />Borrower's leasehold interest in the Property substantially concurrently herewith: (i) a <br />Leasehold Deed of Trust with Assignment of Rents, Security Agreement and Fixture <br />Filing (the "County Deed of Trust") dated as of the date hereof and executed by <br />Borrower as Trustor for the benefit of County to secure repayment of the County Loan, <br />and (ii) a Regulatory Agreement and Declaration of Restrictive Covenants dated as of <br />the date hereof and executed by Borrower and County (the "County Regulatory <br />Agreement"). The County Deed of Trust and the County Regulatory Agreement are <br />herein referred to collectively as the "County Documents." <br />executed in counterpart <br />535\60\2253378.2 <br />