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A.P.N.: 08OG-1287-075 Subordination Agreement - continued File No.: 13707-429648 (IA )
<br />Date: 12/17/2020
<br />IN THE DEDARATION OF RESTRICTIONS RECORDED FEBRUARY 28, 2007; SERIES N0, 2007-88505, OFFICIAL
<br />RECORDS, LYING WITHIN LOT 1, TRACT 7791, FILED FEBRUARY 28,2007, IN MAP BOOK 295; PAGES 54 AND
<br />55, ALAMEDA COUNTY RECORDS.
<br />EXCEPTING AND RESERVING FROM PARCEL TWO:
<br />I. UNITS 720-1 THROUGH 720-14 INCLUSIVE, ES SHOWN ON SAID CONDOMINIUM PLAN, REFERRED TO
<br />ABOVE.
<br />2. THE EXCLUSIVE RIGHT TO USE ALL THOSE AREAS DESIGNATED AS PATIO ON SAID CONDOMINIUM PLAN
<br />REFERRED TO ABOVE.
<br />PARCEL THREE:
<br />THE EXCLUSIVE RIGHT TO USE THAT PORTION OF LOT 1, DESCRIBED IN PARCEL TWO, ABOVE, DESIGNATED
<br />AS PATIO "PT-720-12" AND PARKING CAR LIFT "CL -18", ON THE CONDOMINIUM PLAN, ATTACHED AS
<br />EXHIBIT "A" TO THE DECLARATION OF RESTRICTIONS, RECORDED, FEBRUARY 28, 2007, SERIES NO.
<br />200748505, OFFICIAL RECORDS, AS AN APPURTENANCE TO. PARCELS ONE AND TWO, ABOVE.
<br />to secure a Note in the sum of $, dated December 21, 2007, in favor of CITY OF SAN LEANDRO, which Deed of
<br />Trust was recorded December 21, 2007 in Book NA, Page NA, or Instrument No. 2007428193, of said
<br />County; and
<br />WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and Note in the sum not to
<br />exceed $323,000.00, in favor of Bank of the West, hereinafter referred to as "Lender", payable with interest and
<br />upon the terms and conditions described therein, which Deed of Trust is to be recorded concurrently herewith;
<br />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, shall
<br />unconditionally be and remain at all times a lien or charge on the property therein described, prior and
<br />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 or
<br />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 subordination
<br />including, but not limited to, those provisions, if any, contained in the Deed of Trust first above mentioned,
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