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. \ <br />~ APN,: ,08~G-,1287-078-00 <br />RECORDING REQUESTED BY: <br />Chicago Title Company <br />Order No.: 5991901534 <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 -078-00 <br />SCANNEQ <br />APR 2 3 2DZO <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 December 18, 2019, is entered into by and <br />between Junda Chen and Ka Ki Ng, Husband and Wife, as Joint Tenants, the owner ("Owner") and the City of. <br />San L.eandro as Housing Successor to the Redevelopment Agency of the City of San Leandro ("City''). Owner and City <br />are collectively referred to herein as the "Parties." <br />RECITALS <br />WHEREAS, Owner is the owner of certain real property located at 730 Fargo Avenue #1,_in the City, known as <br />Assessor's Parcel Number 080G-1287-078-00, (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 2017148466, on July 3, 2017 in the official records of Alameda <br />County; and <br />WHEREAS, Owner entered into that certain loan agreement (the "Loan Agreement'') with the City in the amount of <br />1Q (the "Loan''), which is evidenced by a promissory note (the "Note'') in the amount of the Loan, both of which are <br />dated June 25th, 2017. <br />WHEREAS, to secure the Loan to the City, Owner executed a deed of trust (the "City Deed of Trust") dated ~ <br />2017, in favor of The City of San Leandro, which was recorded as instrument no. 2017148467 on July 7, 2017_in the <br />Official Records of Alameda County; and <br />WHEREAS, Owner has executed, or is about to e~ecut~~-deed of trust (the "Lender Deed of Trust") and note (the <br />"Lender Loan'') in the amount of $247,000 dated ~be-Ylt?'j 2et1 , in favor of California Co~um~ <br />Lending, (the "Lender") upon the terms and conditions described in the Lender Loan, which Lender Deed of -rrust is <br />to be recorded concurrently herewith; and <br />WHEREAS, it is a condition precedent to obtaining the Lender Loan that the Lender Deed of Trust shall unconditional!~ <br />be and remain at all times a lien or charge upon the Property prior and superior to the lien or charge of the Cit:Y Dee <br />of Trust; and <br />Exempt from fee per GC 27381.1 <br />(a)(2); Document is executed or <br />recorded by the state or any county, <br />-Pa_g_e_No-.-1-o-f 3---------------------municipality, or other political <br />subdivision of the state