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Recording Requested By o 4 2011048331 02/03/2011 01:21 PM • PLACER TITLE COMPANY /' � PRTRICKLORECO RDSLOF RLRr1EDR COUNTY e +a„ RECORDING FEE: 24.00 mail to And when recorded 835 E. 1 4TH STREET REET SAN LEANDRO II I I III II I II III II I I II 4 PCS 835 14TH SAN LEANDRO, CA 94577 Escrow no 801- 12953 -TJP fa (Space above this line for Recorder's use) Placer Title SUBORDINATION AGREEMENT 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 AGREEMENT, made January 12, 2011, by THE DAVIS STREET COMMUNITY CENTER INCORPORATED, owner of the land hereinafter described and hereinafter referred to as "Owner," and CITY OF SAN LEANDRO present owner and holder of the Deed of Trust and note first hereinafter described and hereinafter referred to as "Beneficiary"; WITNESSETH: THAT, WHEREAS, DAVIS STREET FAMILY RESOURCE CENTER, did execute a Deed of Trust dated July 1 2009, to THE CITY OF SAN LEANDRO, as trustee, covering: PARCEL 1 PARCEL MAP 1057 FILED JANUARY 17, 1973 IN BOOK 76 PAGE 88 OF MAPS ALAMEDA COUNTY RECORDS. APN 07713- 1201- 027 -15 to secure a note in the sum of $500,000.00, dated July 1 2009, in favor of CITY OF SAN LEANDRO, which Deed of Trust was recorded June 30 2010 as 2010 - 181819, Official Records of said County; and WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and Note in the sum of $500,000.00, dated January 24 , 2011, in favor of ADAM S. KORBAS AND MICHELLE D. KORBAS, HUSBAND AND WIFE, hereinafter referred to as "Lender ", payable with interest and upon the terms and conditions described therein, which Deed of Trust is to be recorded concurrently herewith; and WHEREAS, it is a condition precedent to obtaining said loan that said Deed of Trust last above - mentioned shall unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior and superior to the ken or charge of the Deed of Trust first above - mentioned; and WHEREAS, Lender is willing to make said loan provided the Deed of Trust securing the same is a hen or charge upon the above - described property prior and superior to the lien or charge of the Deed of Trust first above - mentioned and provided that Beneficiary will specifically and unconditionally subordinate the lien or charge of the Deed of Trust first above - mentioned to the lien or charge of the Deed of Trust in favor of Lender; and Subordination Agreement "Form A" SuSga doe