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<br />6.11 <br />Page 5 <br /> <br />FREE RECORDING REQUESTED <br />PURSUANT TO GOVERNMENT CODE <br />SECTION 27383 <br /> <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br /> <br />ATTACHMEIT~ <br /> <br />Recording requested by and <br />when recorded return to: <br /> <br />CALIFORNIA HOUSING FINANCE <br />AGENCY <br />Office of General Counsel <br />P.O. Box 4034 <br />Sacramento, CA 95812-4034 <br /> <br />(space above this line for Recorder's use) <br /> <br />SUBORDINATION AGREEMENT <br /> <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 INSTRUl\.fENT. <br /> <br />THIS AGREEMENT dated as of June 1, 2009 for infomlational pwposes, is entered into by and <br />between the City of Redwood City, California, a public body, corporate and politic (the "Locality"), <br />Redwood Oaks Associates, a California limited partnership ("Borrower"), and the C'.-a1ifomia Housing <br />Finance Agency ("CalHF At') a public instrumentality and a political subdivision of the State of California <br />in connection with a loan by CalHF A to Borrower to fmance a multifamily residential rental housing <br />project on real property located in the City of Redwood City, County orSan Mateo, California and more <br />particularly described on Exhibit A attached hereto and incorporated herein by this reference <br />C'Project"). Unless othelWise noted, references to instruments recorded in "Official Records" refer to fJ) <br />instruments recorded in the Office of the County Recorder oftbe County of San Mateo. <br /> <br />RE~!IAL~ <br /> <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 Development: <br /> <br />1. A Deed of Trust dated as of January 14,2002 (the llCity Deed ofTrust'j by and between <br />the Locality, as beneficiary, and the Borrower and recorded in the Official Records on February 7, 2002 <br />as Serial No. 2002-023686; <br /> <br />2. An agreement entitled "Amended Agreement with Housing Association for the Needy <br />and Dispossessed, Inc. (HAND) to Rehabilitate Redwood Oaks Apartments at 330-340 Redwood <br />Avenue," dated as of January 15, 2002 (the "City Rehabilitation Agreement") by and between the <br />Locality and the Borrower as successor in interest, recorded in the Official Records on September 12, <br />2002 as Serial Number 2002-180877; <br /> <br />CalHFA SUBORDINATION.n (Redwood City).Locality - 1 - <br />Redwood Ol1ks Apts., 99-019-N <br />6/11/2009 MJV.CLC."176627v2. FlNAL <br />