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. " <br /> RECORDING REQUESTED BY: <br /> Chicago Title Company 01/26/2018 1211 PM <br /> Order No.: FWAC-TO17002041 <br /> OFIjcik, RECORDS OF COUNTY <br /> STEVE MANNING <br /> 0.00 <br /> When Recorded Mail Document To: RECORDING FEE� <br /> City of San Leandro 4 F001'0' <br /> 835 E. 14th St. <br /> San Leandro, CA 94577 5 PGIS <br /> Attn: City Clerk <br /> No fee for recording pursuant t <br /> Government Code Section 27383 <br /> APN: 080G-1287-047-00 <br /> SPACE ABOVE THIS LINE FOR RECORDER'S USE <br /> SUBORDINATION AGREEMENT <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 OTHER OR LATER <br /> SECURITY INSTRUMENT. <br /> THIS AGREEMENT(this"Subordination Agreemnent"\,dated asof December 20, 2017, isentered into bvand between <br /> Gloria J. Ruiz, the owner ("Owner") and the City of San Leandro as Housing Successor to the Redevelopment Agency <br /> of the City of San Leandro ("City"). Owner and City are collectively referred to herein as the"Parties." <br /> RECITALS <br /> WHEREAS, Owner is the owner ufcertain real property located at in the City, known as Assessor's <br /> Parcel Number (the "Property") as more particularly described in ExIKlKA attached hereto and <br /> incorporated herein by this reference. <br /> WHEREAS, Owner entered into that certain loan agreement (the "Loan Agmeennent"\ with the City in the amount of <br /> $30L{X}0 /the"Loan"), which is evidenced by a promissory note /the"Note") in the amount of the Loan, both of which <br /> are dated May 21^_2{08. <br /> WHEREAS, to secure the Loan to the City, Owner executed a deed of trust (the"City Dead of Trust") dated May 21, <br /> 2008, in favor nf [the l [Cityl which was recorded as instrument <br /> no. 2008177738 on June 4, 2008 in the ()0icia[ Records of Alameda County; and <br /> WHEREAS, Owner has executed, or is about to execute, a deed of trust (the"Lender Deed of Trust") and note (the <br /> "Lender Loan") in the amount of$118,500 dated January 22 2018 , infavor of Best Capital Funding, (the <br /> "Lender") upon the terms and conditions described in the Lender Loan, which Lender Deed ofTrust isto be recorded <br /> concurrently herewith; and <br /> WHEREAS, it is a condition precedent to obtaining the Lender Loan that the Lender Deed nfTrust shall unconditionally <br /> be and remain at all times o lien or charge upon the Property prior and superior to the lien or charge of the City Deed <br /> ofTrust; 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 Deed of <br /> Trust to the lien or charge of the Lender Deed of Trust in favor of Lender; and <br />