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* ~ <br />2. It intentionally and uncond itionally waives, relinquishes, and <br />subordinates the charge of its Agreement in favor of the Deed of Trust (to the <br />extent that the proceeds of any loan secured by such Deed of Trust is used (i ) <br />for costs incurred to develop a project on all or part of the Property, <br />including engineering and processing costs, or (ii) refinancing .of any of the <br />foregoing costs) and understands that in reliance upon, and in consideration of <br />this waiver, relinquishment and subordination, specific loans, extensions and <br />advances are being and will be made and, as a part and parcel thereof,. specific <br />monetary and other obligations: are being and will be .entered into which would <br />not be incurred or entered into but for Lender's reliance upon this waiver, <br />relinquishment and subordination. Without limiting the generality of the <br />foregoing, the .parties hereby acknowledge and agree that the lien of any <br />assessment .district hereafter lawfully imposed by the City or any other <br />governmental entity having jurisdiction over the Property shall not, without <br />further written agreement between the parties and/or such other governmental <br />entity,. be subordinate to the Deed of Trust. <br />3. .Lender is an intended beneficiary of this Subordination Agreement <br />and shall be entitled to enforce the terms, covenants and conditions contained <br />herein as a third-party beneficiary to the extent that such terms, covenants and <br />conditions are consistent with the terms and conditions of the Agreement. <br />NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS. A PROVISION WHICH <br />ALLOWS THE PERSON OBLIGATED PURSUANT TO YOUR AGREEMENT TO OBTAIN A <br />LOAN SECURED BY A DEED OF TRUST SENIOR AND SUPERIOR TO THE AGREEMENT. <br />CITY: <br />City of Pleasanton, <br />a municipal corporation <br />a r <br />ATTEST: <br />City r <br />APPROVED AS TO FORM: <br />~,f ~~ <br />,ty ttorney <br />STATE OF CALIFORNIA <br />COUNTY OF ALAMEDA <br />ss. <br />OWNER: <br />CROW-SPIEKER-SINGLETON #112, <br />a Texas limited partnership <br />By: ~ <br />Man?ging~ <br />On ~u N~ ~ 19~, before me the undersigned <br />Tl.'ll 1 V 5,'i Y1V1~'~Yer~ VL~7~TLTL~TTT T ~rr~r. .~..-.~ _ <br />