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SUBORDINATION AGREEMENT
<br />(City of Redwood City)
<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY
<br />BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER
<br />SECURITY INSTRUMENT.
<br />THIS SUBORDINATION AGREEMENT ("agreement') is dated as of Jtlfiflyl '2017, by SERVICE LEAGUE OF SAN
<br />MATEO COUNTY, a California nonprofit public benefit corporation ("Owner") and THE CITY OF REDWOOD CITY,
<br />CALIFORNIA ("Subordinate Lender'), in favor of COUNTY OF SAN MATEO DEPARTMENT OF HOUSING ("Conn "),
<br />its successors, transferees and assigns ("`Lender").
<br />RECITALS
<br />A. Owner is the owner of the real property interests described on_xhi it A, attached hereto and incorporated herein
<br />by reference: 2820 Huntington Avenue, Redwood City, CA 94063 ("Property").
<br />B. Subordinate Lender has made or agreed to make certain loans to Owner in the original principal amount of Two
<br />Hundred Thousand Dollars ($200,000.00) (the "Subordinate Loan"), evidenced by (1) that certain Agreement with
<br />Service League of San Mateo County for Funding to Acquire Property at 2820 Huntington Avenue ("Subordinate
<br />Loan Agreement") dated August 31, 2009, and (ii) that certain Declaration of Affordability Covenants dated as of
<br />August 31, 2009, executed by Owner for the benefit of Subordinate Lender, recorded in the Oficial Records on
<br />September 28, 2009 as Document No. 2009-129204 ("Affordability Covenants"). The Subordinate Loan
<br />Agreement, Affordability Covenants and all other documents or instrutnents executed in connection with the
<br />Subordinate Loan are hereinafter collectively referred to as the "Subordinate Loan Documents."
<br />of o exc e tli oudn
<br />C, Lender has made or agreed to make a loan to Owner in the aggregate princrpaltamount�ofdOne eFluanraighty
<br />Thousand Three Hundred Ninety Seven Dollars ($180,397) (the "Senior Loan") to be evidenced by (I) that certain
<br />Agreement by and between Lender and Owner ("Senior Loan Aareement"), (ii) that certain Promissory Note to
<br />be made by Owner to the order of Lender ("Senior Note), (iii) that certain Deed of Trust ("Senior Deed of
<br />Trust") to be recorded In the Official Records of San Mateo County, California ("Official Records"), and (iv) that
<br />certain Declaration of Affordability Covenants to be recorded in the Official Records ("Senior Restrictions"), The
<br />Senior Loan Agreement, Senior Note, Senior Deed of Trust, Senior Restrictions, and all other documents or
<br />instruments executed in connection with the Senior Loan are hereinafter collectively referred to as the "Senior
<br />Loan Documents".
<br />D. Lender requires that the Senior Deed of Trust be unconditionally and at all times remain a lien or charge upon the
<br />Property, prior and superior to all the rights of the Subordinate Lender secured by the Subordinate Loan
<br />Documents, the repayment of the Subordinate Loan and the Subordinate Lender's rights under any other
<br />Subordinate Loan Documents and that the Subordinate Lender specifically and unconditionally subordinates the
<br />Subordinate Loan Documents, the repayment of the Subordinate Loan and the Subordinate Lender's rights under
<br />any other Subordinate Loan Documents to the lien or charge of the Senior Deed of Trust, the repayment of the
<br />Senior Loan and the other Senior Loan Documents_
<br />Page 1 of 7
<br />REV: 06.08-17 PR
<br />ATTYIAGR.2017.135lService League - 2820 Huntington Loan Subordination
<br />2017-061512
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<br />CORDI G REQUESTED BY:
<br />Recorded in Official Records
<br />COUNTY OF SAN MATEO DEPARTMENT OF HOUSING
<br />County of San Mateo
<br />Mark Church
<br />AND WHEN RECORDED MAIL TO:
<br />Assessor-Coujjnt Clerk-Recorder
<br />COUNTY OF SAN MATEO DEPARTMENT OF HOUSING
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<br />Attn: Tracy Choi
<br />PONY: DOH 209
<br />SUBORDINATION AGREEMENT
<br />(City of Redwood City)
<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY
<br />BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER
<br />SECURITY INSTRUMENT.
<br />THIS SUBORDINATION AGREEMENT ("agreement') is dated as of Jtlfiflyl '2017, by SERVICE LEAGUE OF SAN
<br />MATEO COUNTY, a California nonprofit public benefit corporation ("Owner") and THE CITY OF REDWOOD CITY,
<br />CALIFORNIA ("Subordinate Lender'), in favor of COUNTY OF SAN MATEO DEPARTMENT OF HOUSING ("Conn "),
<br />its successors, transferees and assigns ("`Lender").
<br />RECITALS
<br />A. Owner is the owner of the real property interests described on_xhi it A, attached hereto and incorporated herein
<br />by reference: 2820 Huntington Avenue, Redwood City, CA 94063 ("Property").
<br />B. Subordinate Lender has made or agreed to make certain loans to Owner in the original principal amount of Two
<br />Hundred Thousand Dollars ($200,000.00) (the "Subordinate Loan"), evidenced by (1) that certain Agreement with
<br />Service League of San Mateo County for Funding to Acquire Property at 2820 Huntington Avenue ("Subordinate
<br />Loan Agreement") dated August 31, 2009, and (ii) that certain Declaration of Affordability Covenants dated as of
<br />August 31, 2009, executed by Owner for the benefit of Subordinate Lender, recorded in the Oficial Records on
<br />September 28, 2009 as Document No. 2009-129204 ("Affordability Covenants"). The Subordinate Loan
<br />Agreement, Affordability Covenants and all other documents or instrutnents executed in connection with the
<br />Subordinate Loan are hereinafter collectively referred to as the "Subordinate Loan Documents."
<br />of o exc e tli oudn
<br />C, Lender has made or agreed to make a loan to Owner in the aggregate princrpaltamount�ofdOne eFluanraighty
<br />Thousand Three Hundred Ninety Seven Dollars ($180,397) (the "Senior Loan") to be evidenced by (I) that certain
<br />Agreement by and between Lender and Owner ("Senior Loan Aareement"), (ii) that certain Promissory Note to
<br />be made by Owner to the order of Lender ("Senior Note), (iii) that certain Deed of Trust ("Senior Deed of
<br />Trust") to be recorded In the Official Records of San Mateo County, California ("Official Records"), and (iv) that
<br />certain Declaration of Affordability Covenants to be recorded in the Official Records ("Senior Restrictions"), The
<br />Senior Loan Agreement, Senior Note, Senior Deed of Trust, Senior Restrictions, and all other documents or
<br />instruments executed in connection with the Senior Loan are hereinafter collectively referred to as the "Senior
<br />Loan Documents".
<br />D. Lender requires that the Senior Deed of Trust be unconditionally and at all times remain a lien or charge upon the
<br />Property, prior and superior to all the rights of the Subordinate Lender secured by the Subordinate Loan
<br />Documents, the repayment of the Subordinate Loan and the Subordinate Lender's rights under any other
<br />Subordinate Loan Documents and that the Subordinate Lender specifically and unconditionally subordinates the
<br />Subordinate Loan Documents, the repayment of the Subordinate Loan and the Subordinate Lender's rights under
<br />any other Subordinate Loan Documents to the lien or charge of the Senior Deed of Trust, the repayment of the
<br />Senior Loan and the other Senior Loan Documents_
<br />Page 1 of 7
<br />REV: 06.08-17 PR
<br />ATTYIAGR.2017.135lService League - 2820 Huntington Loan Subordination
<br />
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