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RECORDING REQUESTED BY: <br />Chicago 1itle Company <br />Order No.: FWAC-5851901450 <br />When Recorded Mail Document To: <br />City of San Leandro <br />835 E. 14th St. <br />San· Leandro, CA 94577 <br />Attn: City Clerk <br />No fee for recording pursuant to <br />Government Code Section 27383 <br />APN: 080G-1287-051-00· <br />U Ulllll llll llll II I II • PGS <br />SPACE ABOVE THIS LINE FOR RECORDER'S USE <br />SUBORDINATION AGREEMENT <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 AGREEMENT (this "Subordination Agreement"), dated as of September 9. 2019, is entered into by and <br />between Alvin J. Bashful, Jr. and Trusha R. Harrison, husband and wife, as joint tenants,_ the owner ("Owner") <br />and the City of San Leandro as Housing Successor to the Redevelopment Agency of the City of San Leandro (''City''). <br />Owner and City are collectively referred to herein as the "Parties." <br />RECITALS <br />WHEREAS, Owner is the owner of certain real property located at 680 Fargo Avenue #1 O in the City, known as <br />Assessor's Parcel Number 080G-1287-051-00 (the "Property'') as more particularly described in Exhibit A attached <br />hereto and incorporated herein by this reference. <br />WHEREAS, The City and the Owner entered into that certain Resale Agreement and Option to Purchase Agreement <br />(the "Agreement'') recorded as document number 017148471 on July 7, 2017 in the official records of Alameda <br />County; and · <br />WHEREAS, to secure the Agreement to the City, Owner did execute a deed of trust (the "Performance Deed of <br />Trust'') dated June 25. 2017, recorded as document number 2017148472 in favor of The City of San Leandro; and <br />WHEREAS, Owner has executed, or is about to executm.eed of trust (the "Lender Deed of Trust'') and note (the <br />"Lender Loan'') in the amount of $199,000 dated S · I <=1 1 .;lQI ~ · , in favor of Best Capital Funding (the <br />"Lender") upon the terms and conditions described in the Lender Loan, which Lender Deed of Trust is to be recorded <br />concurrently herewith; and <br />WHEREAS, it is a condition precedent to obtaining the Lender Loan that the Lender Deed of Trust shall unconditionally <br />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 <br />of Trust; and <br />WHEREAS, Lender is willing to make the Lender Loan provided the Lender Deed of Trust is prior and superior to City <br />Deed of Trust, and the City agrees specifically and unconditionally subordinate the lien o_r charge of the City Deed of <br />Trust to the lien or charge of the Lender Deed of Trust in favor of Lender; and <br />Page No. 1 of 3