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Inst 2006181154
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Inst 2006181154
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Last modified
12/22/2010 5:05:58 PM
Creation date
12/22/2010 5:05:57 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
5/3/2006
Recorded Document Type
Subordination
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PERM
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• <br /> RECORDED AT THE REQUEST OF <br /> PLACERTITLECO.# 8 <<, 2006181154 05/05/2006 08 :30 Aft <br /> . '. OFF IC IqL RECORDS OF 9LPnEDR COUNTY <br /> PgTRICK O'CONNELL <br /> Recording requested by and when recorded mail to: ✓ RECORDING FEE: 0.80 <br /> Redevelopment Agency of the Agency of San Leandro ,; <br /> 335 East 14 Street <br /> San Leandro, CA 94577 !llI 'I �II' li'IIIYIi' I P :II Ih,I'll;l 14 acs <br /> I <br /> Attention: Executive Director <br /> EXEMPT FROM RECORDING FEES PER <br /> GOVERNMENT CODE § §6103, 27383 ►' CI i r OF SAN LEANDRO <br /> This document is signed in counterpart <br /> 11 SUBORDINATION AGREEMENT JUN 0 6 2006 <br /> ( AGENCY & CITY LOANS TO FREMONT BANK LOAN) <br /> CITY CLERK'S OFFICE <br /> NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR <br /> SECURITY INTEREST IN THE PROPERTY BECOMING SUBJECT TO <br /> AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR <br /> LATER SECURITY INSTRUMENT. <br /> THIS SUBORDINATION AGREEMENT is made as of the 3 day of <br /> ALA- 7" , 2006, by and among Alameda County Allied Housing Program, a <br /> California nonprofit public benefit corporation ( "Borrower "), the Redevelopment Agency of the <br /> Agency of San Leandro (the "Agency "), the City of San Leandro (the "City ", and together with <br /> the Agency, the "Subordinate Lienholder ") and Fremont Bank ( "Senior Lienholder "). <br /> RECITALS <br /> A. The Borrower has or will execute a deed of trust (the "Agency Deed of Trust ") in <br /> favor of the Agency which deed of trust will be recorded in the office of the County Recorder of <br /> Alameda County, California (the "Recorder ") concurrently herewith, and which will secure an <br /> indebtedness by the Borrower in favor of the Agency in the amount of Five Hundred Eight -Three <br /> Thousand Sixty -Seven and No /100 Dollars (5538,067) and which shall encumber the real <br /> property described in Exhibit A attached hereto and incorporated herein by this reference (the <br /> "Property "). <br /> B. The Borrower has or will execute a deed of trust (the "City Deed of Trust ") in <br /> favor of the City which deed of trust will be recorded in the office of the County Recorder of <br /> Alameda County, California (the "Recorder ") concurrently herewith, and which will secure an <br /> indebtedness by the Borrower in favor of the City in the amount of One Million One Hundred <br /> Thousand and 67/100 Dollars (S1,100,000.67) and which shall encumber the Property. The <br /> Borrower, the Agency and the City have or will also enter into a Regulatory Agreement <br /> containing covenants that affect the Property (the "Agency /City Regulatory Agreement "), will be <br /> recorded in the office of the Recorder concurrently herewith. <br /> C. The Agency Deed of Trust, the Agency /City Regulatory Agreement and the City <br /> Deed of Trust shall be referred to herein as the "Subordinate Lienholder Documents." <br /> C: \Documents and Settings \tliao\Local Settings \Temporary Internet Files\OLK49 \SLO - Mission Bell Final Subordination Agreement Fremont <br /> Bank.DOC <br />
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