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<br />Recording Requested By, <br />And After Recording, Return <br />To: <br />WELLS FARGO BANK <br />NATIONAL ASSOCIATION <br />201 Third Street, 8th Floor <br />San Francisco, CA 94103 <br />Attn: Team 4/AU#02681 <br /> <br />SUBORDINATION AGREEMENT <br />(DEED OF TRUST) <br /> <br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY <br />INTEREST IN THE REAL PROPERTY DESCRIBED HEREIN BECOMING SUBJECT TO <br />AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY <br />INSTRUMENT. <br /> <br />THIS SUBORDINATION AGREEMENT (this "Agreement") is entered into <br />as of March 22, 1999, by and among Helen M. Raiser, Trustee of the <br />JHR Trust dated October 2, 1969, Amended and Restated on March 7, <br />1994, the owner of the real property described below ("Owner"), <br />Redevelopment Agency of the City of Redwood City, the present owner <br />and holder of the deed of trust and promissory note first identified <br />below ("Beneficiary"), and WELLS FARGO BANK, NATIONAL ASSOCIATION <br />("Bank") . <br /> <br />RECITALS <br /> <br />A. Helen M. Rasier, Trustee of the JHR Trust dated October 2, <br />1969, Amended and Restated on March 7, 1994 executed a deed of trust <br />dated as of June 18, 1996, to First American Title Company, as <br />Trustee, and for the benefit of Beneficiary (the "Subordinated Deed <br />of Trust"), to secure a promissory note dated as of June 18, 1996, in <br />the principal amount of $255,000.00 and payable to Beneficiary, or <br />order, which Subordinated Deed of Trust was recorded on June 28, <br />1996, as Instrument (Serial) No. 96079153 of the Official Records of <br />San Mateo County, California, and covers the real property described <br />on Exhibit A attached hereto and incorporated herein by this <br />reference (the "Property"). <br /> <br />B. Bank has made, or will hereafter make, a loan to Owner in <br />the principal amount of $1,375,000.00 (the "Bank Loan") which is or <br />will be evidenced by a promissory note dated as of March 22, 1999, <br />payable to the order of Bank with interest and upon the terms and <br />conditions described therein, and which is or will be secured by a <br />deed of trust covering the Property (the "Bank Deed of Trust"). <br /> <br />C. As a condition to Bank making, or continuing to extend <br />credit under, the Bank Loan, Bank requires that the security of the <br />Bank Deed of Trust therefor be unconditionally and at all times <br /> <br />C-530.CA <br /> <br />05/98 <br />