Inst 2006181156 - Laserfiche WebLink

Home

RECORDED AT THE REQUEST OF or .< 2006181156 05/05/2006 08 :30 AM PLACER TITLE CO. #8 5 -9 90 o 14. OFFICIAL RECORDS OF ALAMEDA COUNTY PATRICK O'CONNELL RECORDING FEE: 0.00 Recording requested by and when recorded mail to: °.;, Redevelopment Agency of the Agency of San Leandro 1 835 East 14 Stree[ II I I 11' I II I I�I 11 ! I II I I6 PGS San Leandro, CA 94577 Attention: Executive Director EXEMPT FROM RECORDING FEES PER �" GOVERNMENT CODE § §6103, 27383 `V ( Cf i Y OF SAN LEANDRO Thi c Ann! mant iq si grind i n rnnntarrart 1 SUBORDINATION AGREEMENT JUN 0 6 2006 (AGENCY & CITY LOANS TO COUNTY LOAN) CITY CLERK'S OFFICE NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT. THIS SUBORDINATION AGREEMENT is made as of the 3 r � day of ACA 's , 2006, by and among Alameda County Allied Housing Program, a California nonprofit public benefit corporation ( "Borrower "), the Redevelopment Agency of the Agency of San Leandro (the "Agency "), the City of San Leandro (the "City ", and together with the Agency, the "Subordinate Lienholder ") and the County of Alameda ( "Senior Lienholder "). RECITALS A. The Borrower has or will execute a deed of trust (the "Agency Deed of Trust ") in favor of the Agency which deed of trust will be recorded in the office of the County Recorder of Alameda County, California (the "Recorder ") concurrently herewith, and which will secure an indebtedness by the Borrower in favor of the Agency in the amount of Five Hundred Eight -Three Thousand Sixty -Seven and No /100 Dollars (5538,067) and which shall encumber the real property described in Exhibit A attached hereto and incorporated herein by this reference (the "Property "). B. The Borrower has or will execute a deed of trust (the "City Deed of Trust ") in favor of the City which deed of trust will be recorded in the office of the County Recorder of Alameda County, California (the "Recorder ") concurrently herewith, and which will secure an indebtedness by the Borrower in favor of the City in the amount of One Million One Hundred Thousand and 67/100 Dollars (51,100,000.67) and which shall encumber the Property. The Borrower, the Agency and the City have or will also enter into a Regulatory Agreement containing covenants that affect the Property (the "Agency /City Regulatory Agreement "), will be recorded in the office of the Recorder concurrently herewith. C. The Agency Deed of Trust, the Agency /City Regulatory Agreement and the City Deed of Trust shall be referred to herein as the "Subordinate Lienholder Documents." C: \Documents and Settings \liao \Local Settings \Temporary Internet Files\OLK49\SLO - Mission Bell Final Subordination Agreement County.DOC