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53ub 1 bpi <br /> 1. (a) That the Deed of Trust, and any renewals or <br /> extensions thereof, shall unconditionally be and remain at all <br /> times a lien on the Property, prior and superior to the lien of <br /> the Memorandum of Option. <br /> (b) That Lender would not make the loan above <br /> described without this subordination agreement. <br /> (c) That this agreement shall be the whole and only <br /> agreement with regard to the subordination of the lien of the <br /> Memorandum of Option to the lien of the Deed of Trust. <br /> 2. Eden declares, agrees and acknowledges that <br /> (a) Eden consents to and approves all provisions of <br /> the Note and Deed of Trust referred to above; <br /> (b) Lender in making disbursements, if any, pursuant <br /> to the loan documents is under no obligation or duty to, nor has <br /> Lender represented that it will see to the application of such <br /> proceeds by the person or persons to whom Lender disburse such <br /> proceeds, and any application or use of such proceeds for <br /> purposes other than those provided for in the loan documents <br /> shall not defeat the subordination herein made in whole or in <br /> part; and <br /> (c) Eden and Owner intentionally subordinate the lien <br /> of the Memorandum of Option in favor of the lien upon said land <br /> of the Deed of Trust and understand that in reliance upon, and in <br /> consideration of, this subordination the loan is being and will <br /> be made and, as part and parcel thereof, specific monetary and <br /> other obligations are being and will be entered into which would <br /> not be made or entered into but for said reliance upon this <br /> subordination. <br /> 3. This Agreement shall be binding on and inure to the <br /> benefit of the legal representatives, heirs, successors and <br /> assigns of the parties. <br /> 4. This Agreement shall be governed by and construed in <br /> accordance with the laws of the State of California. <br /> sa \Option.RVC <br />