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<br />,Recording Requested By <br />First Am~r~can Tlt~3i ) ~ (""'j <br />Escrow No. q,olf. ou J b <br /> <br />FREE RECORDING REQUESTED <br />PURSUANT TO GOVERNMENT CODE <br />SECTION 27383 <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 />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br />) <br /> <br />2009-169714 <br /> <br />FIRST AMERICAN TITLE COMPANY <br />08:00am 12131/09 SA Fee: NO FEE <br />Count of pages 8 <br />Recorded in Official Records <br />County of San Mateo <br />Warren Slocum <br />Assessor-County Clerk-Recorder <br /> <br />1III ~lllli II ~i III ~lllilllll"l ~I~ 11111111111111 <br />* 2 009 0 1 6 9 7 1 4 A R * <br /> <br />~f <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 INSTRUMENT. <br /> <br />THIS AGREEMENT dated as of June 1, 2009 for infonnational pwposes, is entered into by and <br />between the City of Redwood City, California, a public body, corporate and politic (the t1Locality"), <br />Redwood Oaks Associates, a Califonna limited partnership ("Borrower"), and the California Housing <br />Finance Agency ("CalHF A") 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 of San Mateo, California and more <br />particularly described on Exhibit A attached hereto and incorporated herein by this reference <br />(tlproject"). Unless othclWise noted, references to instrunlents recorded in "Official Records" refer to <br />instruments recorded in the Office of the County Recorder of the County of San Mateo. <br /> <br />BE~!!~1~ <br /> <br />A. WHEREAS, Borrower and the Locality have or will encumber the Project with the <br />. following documents . related. to the.-finanoing .and/orhdevelopmentofthe Development: <br /> <br />1. A Deed of Trust dated as of January 14,2002 (the "City Deed of Trust ") 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 Janumy 15, 2002 (the "City Rehabilitation AgreeInent") 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 NUlnber 2002-180877; <br /> <br />CaIHFA.SUBORDINATION-B (Redwood City).Locality. - 1 _ <br />Redwood Oaks Apts., 99-019-N <br />6/11/2009.MJV.CLC-#176627v2 - FINAL <br />