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~ ~ <br />IX. RECORDATION. <br />This agreement shall be recorded in the office of the County <br />Recorder of Alameda County. <br />X. SUBORDINATION OF AGREEMENT. <br />Except to the extent assessment or benefit districts are <br />imposed upon the Property in accordance with California law, <br />this agreement shall be subordinate to any deed of trust or <br />other security .instrument in favor of a third party lender if <br />the proceeds of such loan are used {i) for costs incurred to <br />develop the Project, (ii) to provide construction, interim or <br />permanent financing for improvement of all or a portion of the <br />Property, or (iii)- refinancing of any of the foregoing. The <br />City shall execute such subordination agreement or other <br />comparable document as such lender may require to confirm the <br />senior status of the lender's security. - <br />THIS AGREEMENT is entered into as of the day and year first <br />above written. <br />DEVELOPER:. HOLIDAY NNS, INC. <br />B ~' ~;~_ <br />Y <br />e for Vice President, H tel Group~\ <br />CITY: Y OF PLEASANTON ~\, <br />By <br />Robert E. Butler, Mayor <br />ATT ST: <br />ames R. Walker, City Clerk <br />A ROVED AS TO FORM: <br />Peter ac nal City At rney <br />125h <br />-7- <br />