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RECORDING REQUESTED BY: 2011-163652 Fremont Bank FIRST AMERICAN TITLE COMPANY 39150 Fremont Boulevard 8:00 am 12/30/11 SA Fee: 27.00 Count of Pages 5 Fremont, CA 94538 Recorded in Official Records County of San Mateo AND WHEN RECORDED MAIL TO: Mark Church Assessor -County Clark -Recorder • City of Redwood City I ,. Planningusing i I II Attn Cindy Avila i 1017 Middlefield Road * R 0 O p 1`3 2 3 4 7 5 Redwood City, CA 94063 SPACE ABOVE THIS LINE FOR RECORDER'S USE APN: 113-330-060 SUBORDINATION AGREEMENT NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT. This AGREEMENT, MADE this 8►h day of DECEMBER 2011 by STEVEN K. CHANG, AN UNMARRIED MAN owners of the land hereinafter described and hereinafter referred to as "Owner", and CITY OF REDWOOD CITY present owner and holder of the Deed of Trust and Note first hereinafter described and hereinafter referred to as "Beneficiary': WITNESSETH THAT WHEREAS STEVEN K. CHANG SR, AN UNMARRIED MAN AS HIS SOLE AND SEPARATE PROPERTY did execute a deed of trust, dated FEBRUARY 09, 2004 to CITY OF REDWOOD CITY, A MUNICIPAL CORPORATION, AND THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOODCITY, A REDEVELOPMENT AGENCY OF THE STATE OF CALIFORNIA, as trustee covering: SEE EXHIBIT "A", ATTACHED HERETO AND MADE A PART HEREOF to secure a Note in the sum of $50,000 dated FEBRUARY 09, 2004 in favor of CITY OF REDWOOD CITY which Deed of Trust was recorded as Instrument No 2004-027054 Book/Reel NIA Page/Image NIA recorded on DECEMBER 13, 2004 in the County of San Mateo Official Records of said county, WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of $151,000 or less on or about DECEMBER 22, 2011 , in favor of Fremont Bank, series No. , recorded on hereinafter referred to as "Lender", payable with interest and upon the terms and conditions described therein, which deed of trust is to be recorded concurrently herewith; and WHEREAS, it is a condition precedent to obtaining said loan that said deed of trust last above mentioned shall unconditionally be and remain at all times a lien or charge upon the land herein before described, prior and superior to the lien or charge of the deed of trust first above mentioned; and WHEREAS, Lender is willing to make said loan provided the deed of trust securing the same is a lien or charge upon the above described property prior and superior to the lien or charge of the deed of trust first above mentioned and provided that Beneficiary will specifically and unconditionally subordinate the lien or charge of the deed of trust first above mentioned to the lien or charge of the deed of trust in favor of Lender; and CLTA SUBORDINATION "A" INITIALS: Z UD-64A9REV.4/94) (EXISTING DEED OF TRUST TO NEW DEED OF TRUST) �