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;3 DOC 1:1 ;--"")03-184581 F?"=CORDING REQUESTED BY: 07/03/200. J:29P SA Fee:16.00 STEWART flTLE OF CALIFORNIA Page 1 of 4 Recorded in Official Records WHEN RECORDED MAIL TO: County of San Mateo Warren Slocum Redevelopment Agency of the Assessor-County Clerk-Recorder City of Redwood City ·1~í~m'ilrlllìí~~~T,(} "Yí~i~it rn PO Box 391 Redwood City, CA 94064 ESCROW NO:01163631-CB SPAC_n___ JL JUL 3 1 2!Ift3 00 TITLE ORDER NO:39006749 , C~ REDEVELOPMENT, HOUSIN APN:111-120-280 AND ECONOMIC DEVELOPMEN / SUBORDINATION AGREEMENT }- NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY iJa BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER ~ SECURITY INSTRUMENT. v THIS AGREEMENT, made June 18, 2003, by MANUEL PABLO ORDONEZ and MARITZA TECH lOll .;:) \ owner of the land hereinafter described and hereinafter referred to as "Owner," and -0 8 THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY present owner and holder of the deed of trust and note first hereinafter described and hereinafter referred to as r'- "Beneficiary;" J WITNESSETH 9 THAT WHEREAS, MANUEL PABLO ORDONEZ AND MARITZA TECHIOLl , ("- did execute a deed of trust, dated APRIL 10,2002, to FIDELITY NATIONAL TITLE CO. \)' as trustee, covering: Ç) SEE EXHIBIT 'A' ATTACHED HERETO \ to secure a note in the sum of $100,000.00, dated APRIL 10,. 2002, C in favor of THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY which deed of trust was recorded as Instrument No. 2002-073766, on APRIL 16, 2002 , ~ in book N/A, page N/A , Official Records of said county; and -] WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of $ 218" 000. 00 , Dated ~VJ1g _ 2.J:=), 2.,nD"?J , in favor of H & R BLOCK MORTGAGE CORPORATION, hereina er referred to as "Lender," payable with interest and upon the terms and conditions described therein, which deed of trust is to be recorded concurrently herewith; and WHEREAS, it is a condition precedent to obtaining said loan that said deed of trust last above mentioned shall unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior and superior to the lien or charge of the deed of trust first above mentioned; and 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 property prior and superior to the lien or charge of the deed of trust first above mentioned and provided that Beneficiary will specifically and unconditionally subordinate the lien or charge of the deed of trust first above mentioned to the lien or charge of the deed of trust in favor of Lender; and CLTA SUBORDINATION "A" INITIALS: R _ Ml 163631Subor.doc (Rev. 4/94) (EXISTING DEED OF TRUST TO NEW DEED OF TRUST) Page No, 1 of 3