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APN: 080G-1287-078-00 Of 44 I '4 2019266128 1212612019 11;16 Am RECORDING REQUESTED BY: OFFICIAL RECORDS OF ALAMEDA COUNTY Chicago Title Companyc l FopNp MELISSA ILK Order No.: 5991901534 IFEE: 0.00 When Recorded Mail Document To: 11111 Jill 11111111111111111111111111111PGSCity of San Leandro 835 E. 14th St. San Leandro, CA 94577 A L Z —""`= Attn: City Clerk �'� No fee for recording pursuant to ,r �F Government Code Section 27383 '' Z�.. �^"`- APN: 080G-1287-078-00 SPACE ABOVE THIS LINE FOR RECORDER'S USE 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 (this "Subordination Agreement', dated as of December 18, 2019, is entered into by and between Junda Chen and Ka Ki Ng, Husband and Wife, as Joint Tenants, the owner ("Owner") and the City of San Leandro as Housing Successor to the Redevelopment Agency of the City of San Leandro C'City'�. Owner and City are collectively referred to herein as the "Parties." RECITALS WHEREAS, Owner is the owner of certain real property located at 730 Fargo Avenue #1,_in the City, known as Assessor's Parcel Number 080G-1287-078-00, (the "Property's as more particularly described in Exhibit A attached hereto and incorporated herein by this reference. WHEREAS, The City and the Owner entered into that certain Resale Agreement and Option to Purchase Agreement (the "Agreement's recorded as document number 2017148466, on July 3, 2017 in the official records of Alameda County; and WHEREAS, Owner entered into that certain loan agreement (the "Loan Agreement's with the City in the amount of $00 (the "Loan', which is evidenced by a promissory note (the "Note's in the amount of the Loan, both of which are dated June 251h, 2017. WHEREAS, to secure the Loan to the City, Owner executed a deed of trust (the "City Deed of Trust") dated June 25, 2017, in favor of The City of San Leandro, which was recorded as instrument no. 2017148467 on July 7, 2017 in the Official Records of Alameda County; and WHEREAS, Owner has executed, or is about to execute a deed of trust (the "Lender Deed of Trust") and note (the "Lender Loan's in the amount of $247,000 dated � '-��; 2_&Ij in favor of California Consumer Lending, (the "Lender") upon the terms and conditions described in the Lender Loan, which Lender Deed of Trust is to be recorded concurrently herewith; and WHEREAS, it is a condition precedent to obtaining the Lender Loan that the Lender Deed of Trust shall unconditionally be and remain at all times a lien or charge upon the Property prior and superior to the lien or charge of the City Deed of Trust; and Page No. 1 of 3 Exempt from fee per GC 27381.1 (a)(2); Document is executed or recorded by the state or any county, municipality, or other political subdivision of the state