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<br />6.11 <br />Page 8 <br /> <br />5. Governing Law. This Agreement shall be construed in accordance with and be governed <br />by the laws of California. <br /> <br />6. Countemarts. This Agreement may be executed in several counterparts, each of which <br />shall be an original and all of which shall constitute one and the same instrument. <br /> <br />7. Severability. In the event any provision of this Agreement shall be held invalid or <br />unenforceable by any court of competent jurisdiction, it shall not invalidate or render unenforceable any <br />other part of this Agreement. <br /> <br />NOTICE: TIDS SUBORDINATION AGREEMENT CONTAINS A <br />PROVISION WHICH ALLOWS THE PERSON OBLIGATED ON YOUR REAL <br />PROPERTY SECURITY TO OBTAIN A LOAN, A PORTION OF WHICH MAY BE <br />EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND. <br /> <br />IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first <br />above written. <br /> <br />LOCALITY: <br /> <br />BORROWER: <br /> <br />CITY OF REDWOOD CITY, CALIFORNIA, a <br />public body, corporate and politic <br /> <br />RED\\'OOD OAKS <br />ASSOCIATES, a California limited <br />partnershi p <br /> <br />By: HIP Housing Development <br />Corporation, a California <br />non-profit public benefit <br />corporation, Its General <br />Partner <br /> <br />By: <br />Name <br />Title: <br /> <br />By: <br />Name: <br />Title: <br /> <br />CalHF A: <br /> <br />CALIFORNIA HOUSING FINANCE AGENCY, <br />a public instrumentality and political subdivision of the <br />State of California <br /> <br />By: <br />Name <br />Title: <br /> <br />ACKNOWLEDGEMENTS <br /> <br />CaIHFASUBORDINATION.B (Redwood City) Locality - 4 - <br />Redwood Oaks Apt&., 99.Q19.N <br />6/11/2009 M]V.CLC.#176627v2 . FINAL <br />