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IN WITNESS WHEREOF, the parties hereto have executed this Subordination Agreement <br />as of the date first above written. <br />I:iW."Ia I <br />HOUSING ENDOWMENT AND <br />REGIONAL TRUST OF SAN MATEO <br />COUNTY, a joint powers authority existing <br />under the laws of the State of California <br />SI"0'NED IN COUNTERPART <br />BY: <br />Name: Armando F. Sanchez <br />Title: Executive Director <br />CITY: <br />CITY OF REDWOOD CITY, a California charter <br />city and municipal corporation <br />By: <br />Name: Melissa Stevenson Diaz <br />Title: City Manager <br />REV: 05-22-25 LF <br />BORROWER: <br />HEART -SV, a joint powers authority <br />existing under the laws of the State of <br />California <br />SIGNED IN COUNTERPART <br />Bv: <br />Name: Armando F. Sanchez <br />Title: Executive Director <br />See Attached <br />Certificate <br />ATTY/AGR.2025.114/HEART-SV (Subordination Agreement - HEART Trust Funds to RWC) (Page 5 of 8) <br />