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~ . RECORDING REQUESTED BY: Chicago Title Company 2010015832 01/26/2018 12:21 PM Order No.: FWAC-TD17002041 OFFICIAL mEcumoa OF W-Wnsow coumTv STEVE nAwmzwo nsconozm: pss: m mm When Recorded Mail Document To: City ofSan Leandro 835 E. 14th SL. San Leandro, C494577 o PGS Attn: City Clerk No fee for recording pursuant to Government Code Section 27383 APN: SPACE ABOVE THIS LINE FOR RECORDER'S USE 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(this"Subordination Agreemment"), dated asuf December 20, 2017, isentered into bvand between Gloria J. Ruiz, the owner ("Owner") and the City of San Leandro as Housing Successor to the Redevelopment Agency of the City of San Leandro ("City"). Owner and City are collectively referred to herein as the"Parties." RECITALS WHEREAS, Owner is the owner of certain real property located at in the City, known as Assessor's Parcel Number (the "Property") as more particularly described in Exhibit 4aitached hereto and incorporated herein by this reference. WHEREAS, Owner entered into that certain loan agreement (the "Loan Agreement") with the City in the amount of $0 (the "Loan"), which is evidenced by a promissory note (the "Note") in the amount of the Loan, both of which are dated May L21,_2[08.' WHEREAS, to secure the Loan to the City, Owner executed o decd of trust (the "City Deed of Trust") dated May 21, 2008, in favor of [the ,l [{i�tty,l which was recorded as instrument no. 2{X081[77740 on June-4^_2008-in the Official Records of Alameda County; and WHEREAS, Owner has executed, or is about to execute, a deed of trust (the"Lender Deed ofTrust") and note (the "Lender Loan") inthe amount of$118,500dated January 22 2018 , infavor of Best Capital Funding, (the "Lender") upon the terms and conditions described in the Lender Loan, which Lender Deed of Trust is to be recorded concurrently herewith; and WHEREAS, it is a condition precedent to obtaining the Lender Loan that the Lender Deed ofTrust shall unconditionally 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 of Trust; and WHEREAS, Lender is willing to make the Lender Loan provided the Lender Deed of Trust is prior and superior to City Deed of Trust, and the City agrees specifically and unconditionally subordinate the lien or charge of the City Deed of Trust to the lien or charge of the Lender Deed of Trust in favor of Lender; and Page No. 1uf3