SUBORDINATION AGREEMENT (3) - Laserfiche WebLink

Recording requested by: North American Title Company Escrow No. 98220683 SHS Recorded in Official Records, Alameda County RECORDING REQUESTED BY Patrick O'Connell, Clerk- Recorder 1111111111111111 37 WHEN RECORDED RETURN TO: 99386162 08 :30am 10/13/99 005 955217 20 12 000067 City of Pleasanton 0 L 00 11 7.00 30.00 0.00 0.00 0.00 0.00 0.00 123 Main Street Pleasanton, CA 94566 Attn: Scott Erickson 11 s SUBORDINATION AGREEMENT NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTERESTS IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT. THIS SUBORDINATION AGREEMENT (this "Agreement is made as of September 16, 1999, by RIDGE VIEW COMMONS ASSOCIATES, A CALIFORNIA LIMITED PARTNERSHIP ('Borrower for the benefit of the CITY OF PLEASANTON, a municipal corporation( "Lender and is consented to by the CALIFORNIA TAX CREDIT ALLOCATION COMMITTEE, a public body "TCAC RECITALS: A. Borrower is the Owner of that certain real property located in the City of Pleasanton, County of Alameda, State of California, as more particularly described on Exhibit A attached hereto (the "Property B. Borrower is the owner of a multi family housing development on the Property; the Property and the improvements constructed on it are referred to in this Agreement as the "Project". C. Borrower has received from TC AC, as the state housing credit agency for the State of California, a reservation of low- income housing tax credits "Tax Credits for the Project. D. Borrower and TCAC have entered into that certain Regulatory Agreement which sets forth certain use restrictions affecting the Project (the "Regulatory Agreement which Regulatory Agreement was recorded in the Alameda County Official Records "Official Records on February 25, 1991, as Document No. 91050998 as required by Section 42 of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (collectively, "Section 42 DC1 5967.2 018241 IGIT