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9r""7416 <br />also subject to and subordinate to advances heretofore made or which may hereafter <br />be made pursuant to the Deed of Trust for the purpose of protecting or further <br />securing the lien of the Senior Deed of Trust, or curing defaults by the Borrower <br />under the Senior Deed of Trust. <br />Provided that Borrower is not then in default under the Note, this Deed of <br />Trust, or the Senior Deed of Trust, Lender agrees, upon the written request of <br />Borrower and Borrower's construction lender (the "Construction Lender"), to <br />execute, acknowledge and record a subordination agreement (in a form reasonably <br />acceptable to Construction Lender), subordinating the lien of this Deed of Trust to <br />the lien of the deed of trust (the "Construction Deed of Trust") securing a <br />construction loan (the "Construction Loan")from Construction Lender to Borrower, <br />provided that Lender shall only agree to such subordination upon all of the following <br />requirements being met: <br />A. The Construction Loan shall be evidenced by a promissory note <br />(the "Construction Promissory Note"), a California deed of trust, (the "Construction <br />Deed of Trust"), and a building or construction loan agreement (the "Construction <br />Loan Agreement.") All such documents (collectively referred to herein as the <br />"Construction Loan Documents") shall be in the standard forms customarily used by <br />Construction Lender in making construction loans for the construction of such <br />commercial projects; and <br />B. The original principal amount of the Construction Loan shall in <br />no event exceed One Million Two Hundred Five Thousand Four Hundred and Sixty <br />Nine Dollars and Ninety -Eight Cents ($1,205,469.98.); and <br />C. The Senior Deed of Trust shall, either prior to, or <br />contemporaneously with, the recordation of the subordination agreement <br />subordinating this Deed of Trust, be reconveyed or otherwise removed as a lien <br />against the Property; and <br />D. The Construction Loan Documents shall not be modified or <br />amended in any respect without the prior written consent of Lender. <br />18. Reconvevance. Upon payment of all sums secured by this Deed of <br />Trust, Lender shall request Trustee to reconvey the Property and shall surrender this <br />Deed of Trust and all notes evidencing indebtedness secured by this Deed of Trust to <br />Trustee. Trustee shall reconvey the Property without warranty and without charge to <br />Economic Development Agency Page 8 of 10 <br />Subordinate Deed of Trust <br />