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i J <br />�A-6, 7�o Zono2-313 <br />RECORDING REQUESTED BY: <br />Chicago Title Company <br />Order No.: FWPN-36520000929 <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 />2020341317 12/08/202Q 12:45 PM 5 Pis <br />OFFICIAL RECORDS OF ALAMEDACOUNTY <br />of a�a� MELISSA WILK, CLERK -RECORDER <br />Fy RECORDING FEES: $0.00 <br />CITY OF SAN ILEANDRO <br />-ELECTRONICALLY RECORDEE 1 JAN 13 2021 <br />CITY IC�.�RK 3 OFF- IC _ <br />APN: 075-0209-014 SPACE ABOVE THIS LINE FOR RECORDER'S USE <br />6�-3 6/X co S'ramr' SUBORDINATION AGREEMENT <br />-4*N l,r-A ill >P_0 <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 OTHEROR LATER <br />SECURITY INSTRUMENT. <br />THIS AGREEMENT (this "Subordination Agreement'), dated as of October 20, 2020, is entered into by and <br />between Yolanda Lai Chuen Lo and Vincent Kwong the owner ("Owner") and the City of San Leandro as <br />Housing Successor to the Redevelopment Agency of the City of San Leandro (" City''. Owner and City are collectively <br />referred to herein as the "Parties." <br />RECITALS <br />WHEREAS, Owner is the owner of certain real property located at 623 Bixco Street, San Leandro, CA 94577 in <br />the City, known as Assessor's Parcel Number 075-0209-014 (the "Property'o as more particularly described in <br />Exhibit A attached 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'o recorded as document number 2004039582 on January 30, 2004 in the official records of <br />Alameda County; and <br />WHEREAS, to secure the Agreement to the City, Owner did execute a deed of trust (the "Performance Deed of <br />Trust's dated January 22, 2004, in favor of The City of San Leandro; and <br />WHEREAS, Owner has executed, or is about to execute, a` deed of trust (the "Lender Deed of Trust's and note (the <br />"Lender Loan D in the amount of $253,000 dated NDVEMi" ; l A 22020 in favor of Best Capital <br />Funding (the "Lender") upon the terms and conditions described in the Lender Loan, which Lender Deed of Trust 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 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 or charge of the City heed of <br />Trust to the lien or charge of the Lender Deed of Trust in favor of Lender; and <br />