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6.D. - Page 4 of 19 <br />FREE RECORDING REQUESTED <br />PURSUANT TO GOVERNMENT CODE <br />SECTION 27383 <br />Recording requested by and <br />when recorded return to: <br />CALIFORNIA HOUSING FINANCE AGENCY <br />Office of General Counsel <br />P.O. Box 4034 <br />Sacramento, CA 95812-4034 <br />(space above this line for Recorder's use) <br />SUBORDINATION AGREEMENT <br />MRSA <br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR <br />SECURITY INTEREST IN THE PROPERTY BECOMING SUBJECT TO <br />AND OF LOWER PRIORITY THAN THE LIEN(S) OF SOME OTHER <br />OR LATER SECURITY INSTRUMENT. <br />THIS AGREEMENT dated as of March _, 2019 for informational purposes, is entered into by <br />and between the City of Redwood City, a municipal corporation (the "Locality"), Waverly Place <br />Apartments, LLC, a California limited liability company ("Borrower"), and the California Housing <br />Finance Agency ("Agency") a public instrumentality and political subdivision of the State of California <br />in connection with a loan by the Agency on behalf of the California Department of Health Care Services <br />to Borrower to finance a multifamily residential rental housing project on real property located in the <br />City of Redwood City, County of San Mateo, California and more particularly described on Exhibit A <br />attached hereto and incorporated herein by this reference ("Project"). Unless otherwise noted, <br />references to instruments recorded in "Official Records" refer to instruments recorded in the Office of <br />the County Recorder of the County of San Mateo. <br />RECITALS <br />A. WHEREAS, Borrower and the Locality have or will encumber the Project with the <br />following documents related to the financing and/or development of the Project: <br />1. An undated Declaration of Affordability Covenants executed by the Mental Health <br />Association of San Mateo County, a California non-profit corporation, as Borrower's predecessor in <br />interest, recorded on August 29, 2013 in the Official Records as Instrument No. 2013-127350, and <br />assumed by the Borrower in the Assignment and Assumption and Modification Agreement (Redwood <br />City CDBG Loan) dated as of April 7, 2017, and recorded April 11, 2017 in the Official Records as <br />Instrument No. 2017-031307 (the "Locality Regulatory Agreement") <br />2. A Deed of Trust and Assignment of Rents dated as of August 28, 2013 (the "Locality <br />Deed of Trust") by and between the Locality, as beneficiary, and the Mental Health Association of San <br />Mateo County, a California non-profit corporation, as Borrower's predecessor in interest, recorded on <br />ATTY/AGR/2019.056/MHA WAVERLY PLACE_SHMHP SUBORDINATION AGREEMENT <br />REV: 03-14-19 VR <br />Page 1 of 7 <br />109 <br />