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<br />PONY: DOH 209
<br />SUBORDINATION AGREEMENT
<br />(City of Redwood City)
<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY
<br />BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER
<br />SECURITY INSTRUMENT.
<br />THIS SUBORDINATION AGREEMENT (`Agreement") is dated as ofc AAO- 1-� 2017, by SERVICE LEAGUE OF SAN
<br />MATEO COUNTY, a California nonprofit public benefit corporation ("Owner") and THE CITY OF REDWOOD CITY,
<br />CALIFORNIA ("Subordinate Lender"), in favor of COUNTY OF SAN MATEO DEPARTMENT OF HOUSING ("Coun ),
<br />its successors, transferees and assigns ("Lender'').
<br />RECITALS
<br />A. Owner is the owner of the real property interests described on Exhibit A, attached hereto and incorporated herein
<br />by reference: 3789 Hoover Street, Redwood City, CA 94063 ("Proaertv").
<br />B. Subordinate Lender has made or agreed to make certain loans to Owner in the original principal amount of Fifty
<br />Five Thousand Dollars ($55,000) (the "Subordinate Loan"), evidenced by (i) that certain Agreement with the
<br />County of San Mateo and the Service League of San Mateo County to Provide Funds to Upgrade and Expand
<br />Hope House ("Subordinate Loan Acireement") dated August 23, 1994, (ii) that certain Promissory Note Secured
<br />by a Deed of Trust dated as of August 5, 1994 executed by Owner to the order of the County of San Mateo and
<br />Subordinate Lender in the principal amount of $55,000 ("Subordinate Note"), and (iii) that certain Short Form
<br />Deed of Trust and Assignment of Rents dated as of August 5, 1994, executed by Owner for the benefit of the
<br />County of San Mateo and Subordinate Lender recorded in the Official Records of San Mateo County, California
<br />("Official Records") on October 27, 1994 as Document No. 94-166182 ("Subordinate Deed of Trust"). The
<br />County of San Mateo (which provided $30,000 of the Subordinate Loan) and Subordinate Lender (which provided
<br />$25,000 of the Subordinate Loan) are joint beneficiaries of the Subordinate Note and the Subordinate Deed of
<br />Trust, as further specified in such documents. The Subordinate Loan Agreement, Subordinate Note, Subordinate
<br />Deed of Trust and all other documents or instruments executed in connection with the Subordinate Loan are
<br />hereinafter collectively referred to as the "Subordinate Loan Documents."
<br />C. Lender has made or agreed to make a loan to Owner in the aggregate principal amount of One Hundred Thirty
<br />Three Thousand Seven Hundred Thirty Six Dollars ($133,736) (the "Senior Loan") to be evidenced by (i) that
<br />certain Agreement by and between Lender and Owner ("Senior Loan Agreement"), (ii) that certain Promissory
<br />Note to be made by Owner to the order of Lender ("Senior Note"), (iii) that certain Deed of Trust ("Senior Deed
<br />of Trust") to be recorded in the Official Records of San Mateo County, California ("Official Records"), and (iv)
<br />that certain Declaration of Affordability Covenants to be recorded in the Official Records ("Senior Restrictions").
<br />The Senior Loan Agreement, Senior Note, Senior Deed of Trust, Senior Restrictions, and all other documents or
<br />instruments executed in connection with the Senior Loan are hereinafter collectively referred to as the "Senior
<br />Loan Documents".
<br />Page 1 of 8
<br />REV: 06-08-17 PR
<br />ATTYIAGR.2017.136/Service League - 3789 Hoover Loan Subordination
<br />P'A
<br />2017-055375
<br />ANY
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<br />BY:
<br />CHICAGO amTLE INSURANCE 06129 17 SA Fee: 42.00
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<br />Count of Pages
<br />COUNTY OF SAN MATEO DEPARTMENT OF HOUSING
<br />Recorded in Official Records
<br />County of San Mateo
<br />AND WHEN RECORDED MAIL TO:
<br />Mark Church
<br />Assessor-Co``unlIty Clerk
<br />COUNTY OF SAN MATEO DEPARTMENT OF HOUSING
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<br />Attn: Tracy Choi
<br />PONY: DOH 209
<br />SUBORDINATION AGREEMENT
<br />(City of Redwood City)
<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY
<br />BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER
<br />SECURITY INSTRUMENT.
<br />THIS SUBORDINATION AGREEMENT (`Agreement") is dated as ofc AAO- 1-� 2017, by SERVICE LEAGUE OF SAN
<br />MATEO COUNTY, a California nonprofit public benefit corporation ("Owner") and THE CITY OF REDWOOD CITY,
<br />CALIFORNIA ("Subordinate Lender"), in favor of COUNTY OF SAN MATEO DEPARTMENT OF HOUSING ("Coun ),
<br />its successors, transferees and assigns ("Lender'').
<br />RECITALS
<br />A. Owner is the owner of the real property interests described on Exhibit A, attached hereto and incorporated herein
<br />by reference: 3789 Hoover Street, Redwood City, CA 94063 ("Proaertv").
<br />B. Subordinate Lender has made or agreed to make certain loans to Owner in the original principal amount of Fifty
<br />Five Thousand Dollars ($55,000) (the "Subordinate Loan"), evidenced by (i) that certain Agreement with the
<br />County of San Mateo and the Service League of San Mateo County to Provide Funds to Upgrade and Expand
<br />Hope House ("Subordinate Loan Acireement") dated August 23, 1994, (ii) that certain Promissory Note Secured
<br />by a Deed of Trust dated as of August 5, 1994 executed by Owner to the order of the County of San Mateo and
<br />Subordinate Lender in the principal amount of $55,000 ("Subordinate Note"), and (iii) that certain Short Form
<br />Deed of Trust and Assignment of Rents dated as of August 5, 1994, executed by Owner for the benefit of the
<br />County of San Mateo and Subordinate Lender recorded in the Official Records of San Mateo County, California
<br />("Official Records") on October 27, 1994 as Document No. 94-166182 ("Subordinate Deed of Trust"). The
<br />County of San Mateo (which provided $30,000 of the Subordinate Loan) and Subordinate Lender (which provided
<br />$25,000 of the Subordinate Loan) are joint beneficiaries of the Subordinate Note and the Subordinate Deed of
<br />Trust, as further specified in such documents. The Subordinate Loan Agreement, Subordinate Note, Subordinate
<br />Deed of Trust and all other documents or instruments executed in connection with the Subordinate Loan are
<br />hereinafter collectively referred to as the "Subordinate Loan Documents."
<br />C. Lender has made or agreed to make a loan to Owner in the aggregate principal amount of One Hundred Thirty
<br />Three Thousand Seven Hundred Thirty Six Dollars ($133,736) (the "Senior Loan") to be evidenced by (i) that
<br />certain Agreement by and between Lender and Owner ("Senior Loan Agreement"), (ii) that certain Promissory
<br />Note to be made by Owner to the order of Lender ("Senior Note"), (iii) that certain Deed of Trust ("Senior Deed
<br />of Trust") to be recorded in the Official Records of San Mateo County, California ("Official Records"), and (iv)
<br />that certain Declaration of Affordability Covenants to be recorded in the Official Records ("Senior Restrictions").
<br />The Senior Loan Agreement, Senior Note, Senior Deed of Trust, Senior Restrictions, and all other documents or
<br />instruments executed in connection with the Senior Loan are hereinafter collectively referred to as the "Senior
<br />Loan Documents".
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<br />ATTYIAGR.2017.136/Service League - 3789 Hoover Loan Subordination
<br />P'A
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