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A.P.N.: Subordination Agreement -continued File No.: 0104-2686609 (K]) <br />Date: July 26, 2007 <br />to secure a Note in the sum of $ 37, 500.00 ,dated August 11, 1992, in favor of The City of San <br />Leandro, a Municipal Corporation, which Deed of Trust was recorded 1-21-1993 in Book NA, Page NA, <br />or Instrument No. 93019876, of said County; and <br />WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and Note in the sum of $925,000.00, <br />dated TBD , in favor of <br />California Health Facilities Financing Anth~rity <br />,hereinafter referred to as "Lender", payable with interest and upon the terms and <br />conditions described therein, which Deed of Trust is to be recorded concurrently herewith; and <br />WHEREAS, it is a condition precedent to obtaining said loan that said Deed of Trust last above mentioned shall <br />unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior and <br />superior to the lien or charge of the Deed of Trust first above mentioned; and <br />WHEREAS, Lender is willing to make said loan provided the Deed of Trust securing the same is a lien or charge <br />upon the above described property prior and superior to the lien or charge of the Deed of Trust first above <br />mentioned and provided that Beneficiary will specifically and unconditionally subordinate the lien or charge of the <br />Deed of Trust first above mentioned to the lien or charge of the Deed of Trust in favor of Lender; and <br />WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner; and Beneficiary <br />is willing that the Deed of Trust securing the same shall, when recorded, constitute a lien or charge upon said <br />land which is unconditionally prior and superior to the lien or charge of the Deed of Trust first above mentioned. <br />NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other valuable <br />consideration, the receipt and sufficiency of which consideration is hereby acknowledged, and in order to induce <br />Lender to make the loan above referred to, it is hereby declared, understood and agreed as follows: <br />(1) That said Deed of Trust securing said Note in favor of Lender, and any renewals or extensions thereof, <br />shall unconditionally be and remain at all times a lien or charge on the property therein described, prior <br />and superior to the lien or charge of the Deed of Trust first above mentioned. <br />(2) That Lender would not make its loan above described without this subordination agreement. <br />(3) That this agreement shall be the whole and only agreement with regard to the subordination of the lien <br />or charge of the Deed of Trust first above mentioned to the lien or charge of the Deed of Trust in favor of <br />Lender above referred to and shall supersede and cancel, but only insofar as would affect the priority <br />between the Deeds of Trust hereinbefore specifically described, any prior agreement as to such <br />subordination including, but not limited to, those provisions, if any, contained in the Deed of Trust first <br />above mentioned, which provide for the subordination of the lien or charge thereof to another Deed or <br />Deeds of Trust or to another Mortgage or Mortgages. <br />Beneficiary declares, agrees and acknowledges that <br />(a) He consents to and approves (i) all provisions of the Note and Deed of Trust in favor of Lender above <br />referred to, and (ii) all agreements, including but not limited to any loan or escrow agreements, between <br />Owner and Lender for the disbursement of the proceeds of Lender's loan; <br />(b) Lender in making disbursements pursuant to any such agreement is under no obligation or duty to, nor <br />has Lender represented that it will see to the application of such proceeds by the person or persons to <br />whom Lender disburses such proceeds and any application or use of such proceeds for purposes other <br />Page 2 of 5 <br />