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t ~ <br />XII. RECORDATION <br />This agreement shall be recorded in the office of the <br />County Recorder of Alameda County. Upon Developer's completion <br />of its obligations described herein, the City shall execute <br />a recordable instrument to eliminate this agreement as an <br />exception to title of the project site. <br />XIII. SUBORDINATION OF AGREEMENT <br />Except to the extent assessment or benefit districts <br />are imposed upon the project site in accordance with California <br />law, this agreement shall be subordinate to any deed of <br />trust or other security instrument in favor of a third party <br />lender if the proceeds of such loan are used only to develop <br />the project site. The City shall execute such subordination <br />agreement or other comparable document as such lender may <br />require to confirm the senior status of the lender's security. <br />THIS AGREEMENT is entered into as of the day and year- <br />first above written. <br />DEVELOPER: VORELCO OF CALIFORNIA, INC. <br />y <br />A. H. Behrens, Vice President <br />CITY: CITY OF PLEASANTON <br />BY <br />o ert E: Butler, Hiayor <br />ATTEST: <br />/C. G-/~ <br />mes R. Walker, City Clerk . <br />AP ROVED AS TO FORM: ~ _ <br />J ~ . <br />e er Mac ona ity torney <br />~/ (ATTACH ACKNOj~TLEDGEr1ENTS) - S- <br />